Host Stuart Fieldhouse chats with Jean Roche, manager of the Schroders UK Mid-Cap Investment Trust, to discuss what defines a mid-cap stock, the FTSE 250 outlook, share buybacks, and where she’s finding opportunity in UK defence and retail stocks.

If you’ve been wondering whether UK equities are undervalued or how mid-cap investing compares to large and small-cap strategies, this episode offers deep insight from one of the most experienced managers in the market.

Our thanks to Schroders for the use of their studio for this episode. You can find out more about Schroder UK Mid-Cap Fund here - https://www.schroders.com/en-gb/uk/individual/funds-and-strategies/investment-trusts/schroder-uk-mid-cap-fund-plc/

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00:00 What is a Mid Cap stock?

02:00 Jean's investment philosophy regarding Mid Caps

05:05 Why so many share buybacks right now?

08:13 Why Mid Caps and not Large Caps?

11:25 The wider UK economy and equity market

15:18 UK sectors and themes to watch

18:28 When a company makes it into the FTSE 100

22:20 How does Jean protect the downside risk?

25:00 Key contributors to the trust's performance

27:17 Looking ahead to UK market opportunites and risks