The Evenlode Podcast

As it is the summer holiday season, members of the Evenlode investment team have compiled a selection of books that we have read and found interesting over the first half of 2021.

Many of the books included are business biographies, or cover technology or history of some kind. Most (but not all) are recent. And I’m not sure all of these texts are obvious light-reading material for the beach!

But we hope you’ll find something of interest.

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Please note, these views represent the opinions of the Evenlode team as of August 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

Last month in our investment view we examined the move towards plant-based diets and how consumer goods companies are responding to the growing market opportunity.

In this investment view we examine how consumer and societal attitudes are evolving to the most ubiquitous social lubricant, alcohol.

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Please note, these views represent the opinions of the Evenlode team as of July 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

During July, the UK stock market has been range-bound with investors contemplating a mixed backdrop.

The coronavirus situation continues to improve in many regions, with vaccination programmes progressing well.

Disruption from the virus, however, has by no means ended: global case rates are high and rising in certain regions (the US, South East Asia etc.) and some restrictions have been re-imposed over recent weeks.

Listen to this episode to find out how some of the companies in the portfolio are managing in this current environment.

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Please note, these views represent the opinions of the Evenlode team as of July 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

The UK market started strongly in June but then erased most of its gains in the second half of the month. Covid cases are on the rise again in several regions, including Asia, and this has led to the reimposition of restrictions in several countries.

Thoughts are also now beginning to turn to the gradual withdrawal of crisis-induced fiscal stimulus programmes, such as furlough schemes, over coming months. Meanwhile, leading indicators are hinting that the rate of the global economic recovery may be slowing.

Listen to this episode to find out how some of the companies in the portfolio are managing in this current environment.

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Please note, these views represent the opinions of the Evenlode team as of June 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

At Evenlode we believe that it is vital for companies to adapt and change over time in order to stay relevant to their customers.

The consumer goods sector is an important one for the Evenlode Global Income portfolio, currently making up over a quarter of the fund across food, beverage, home and over-the-counter health care.

As such, we take a great interest in emerging trends in consumer tastes. One of these is the growing demand for plant-based foods, which we’ll examine in this investment view.

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Please note, these views represent the opinions of the Evenlode team as of June 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

There are lots of theories as to why equity market values might look high.

Chief among them are low interest rates pushing investors into equities to seek returns, and governmental stimulus putting cash in the pockets of people willing to have a punt on stocks (especially in the US).

We find this sort of question interesting, but as interesting a question as it is, it is not information we use to make decisions.

Listen to this episode to find out how we measure value.

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Please note, these views represent the opinions of the Evenlode team as of May 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

The Ship of Theseus is one of the oldest philosophical thought experiments.

Theseus, the great mythical hero of Athens, slayed the minotaur in Crete and returned to Athens where his ship was kept in the harbour as a memorial.

Over the years the planks, masts, sails etc. were gradually replaced as they decayed. Eventually, all the pieces had been replaced but the ship still stood there in the harbour. Which raises the question, is it still the same ship?

We're often reminded of this question when considering the long-term history of listed companies.

At Evenlode, we tend to invest in companies that operate in relatively stable industries where change is quite incremental from one year to the next.

Listen to this episode to find out more.

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Please note, these views represent the opinions of the Evenlode team as of May 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

Thomas Austin is infamous throughout Australia. Not an outlaw in the mould of Ned Kelly, nor a bodyline bowling cricketer under the visiting Douglas Jardine, instead Austin is remembered for one of the greatest ecological disasters to hit the antipodean continent, the introduction of rabbits.

In investment, exponential growth is referred to by another name, “compounding”. 

With the launch of our new fund, Evenlode Global Equity, we focused on attributes shared by serial outperformers and created a checklist of three key factors.

Listen to this episode to find out more.

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Please note, these views represent the opinions of the Evenlode team as of May 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

The world is by no means out of the coronavirus woods yet, but much of the global economy is now recovering from the worst of the pandemic.

Conversations with management teams have therefore turned, increasingly, to post-crisis opportunities and investment plans.
 
On this note, we think the Evenlode Income portfolio is well placed to benefit from several structural growth themes.
 
Listen to this episode to find out why.

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Please note, these views represent the opinions of the Evenlode team as of April 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com

Over the course of the last year, new variants of the damaging and novel coronavirus have evolved and are now being sequenced and detected.

Viruses do change rapidly by their nature, part of the biological mechanism that can make them successful in the battle for survival of the fittest.

The human race has of course been rapidly developing its defences in the form of vaccines, which have been successful so far, and lockdowns, as a more immediate attempt to reduce the spread of the virus.

The volatility induced in equity markets by this struggle has presented opportunities to buy new positions and reasons to sell existing ones within the Evenlode Global Income portfolios.

In this episode we give an overview of what we have bought, sold or added to.

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Please note, these views represent the opinions of the Evenlode team as of April 2021 and do not constitute investment advice.

Past performance is not a reliable indicator of future results. The value of investments can go down as well as up, and investors may not get back the money they invested. Current forecasts are provided for transparency purposes, are subject to change and are not guaranteed.

For more information visit evenlodeinvestment.com