Ben Byrom is joined by Kevin Boscher and Bob Tannahill to reflect on the key events of 2024 and provide insights into the global macroeconomic outlook for the year ahead.

Kevin offers a detailed macro update, considering the implications of Trump’s second term and his policies, while also discussing the long-term economic landscape before Ben and Bob focus in on the investment outlook, with Ben looking at the equity market and Bob covering fixed income strategies. Together, the three explore what is needed for a market broadening, the crucial factors needed to help drive equity performance, and why there is still the risk of volatility (and opportunity) for fixed income investors in 2025.

Pierre Paul, Holly Warburton and Alex Rich from our discretionary investment management team look back at 2024 and look forward at what 2025 may bring. 

In the latest episode of the Ravenscroft podcast, we dive into the global economic landscape and touch on the main themes from our recent round table discussion. 

Ben Byrom, Kevin Boscher and Bob Tannahill discuss the key points regarding the macroeconomic outlook and how this impacts our multi-manager and direct equity strategies.

Together the three try to unpack some of the big questions facing markets: Is the dominance of U.S. markets and the mega-cap stocks sustainable? Where does AI fit in the investment landscape and who stands to benefit? And with inflation shifts and interest rate cuts, what’s the 2024 outlook for investors?

Despite ongoing uncertainty, the overall outlook is largely optimistic. Ben, Kevin, and Bob discuss the opportunities this presents and how Ravenscroft is positioning portfolios to benefit from this.

Following a volatile first half of the year, there is much to discuss when it comes to the Ravenscroft fund range.

In our latest podcast, Shannon Lancaster sits down with Sam Dovey to discuss the Ravenscroft Global Solutions Fund, its bottom performer – Schroder Energy Transition – and top performer – Regnan Waste & Water – and the impact ongoing geopolitical uncertainty and stubborn inflation rates have had on these holdings.

Despite the challenging macro environment, there are many reasons to be positive, so to end the podcast Sam asks Shannon if there are still reasons to be cheerful when it comes to investments in the environmental solutions space. Spoiler alert – there are many!

In our latest podcast Jon Pope and Pierre Paul from our cash management team sit down for a brief discussion about all things cash.

Together the pair explain what the Ravenscroft cash management service is, how it works, who it’s for and what the changing interest rate environment means for investors.

Amidst this uncertainty, the team addresses common questions such as whether rates will remain high, start to fall, or ever reach the ultra-low 2% again. They also explain why they believe cash investments will continue to play an important role in client portfolios.

Pierre also introduces the newest offering from the team, the corporate cash account, explaining how it’s different to a low-interest bank account.

Artificial intelligence (AI) is a much talked about topic at the moment and formed the theme for our latest annual presentation, where Chris Ford, manager of the Sanlam AI Fund (held within the Ravenscroft Balanced and Growth strategies), was the guest speaker.

In this podcast, portfolio managers Sam Dovey and Ben Byrom sit down to talk about some of the key takeaways from the presentation.

During their discussion, Sam and Ben highlight the significant advancements in AI technology over the years and the increasing number of industries that are now utilising it. They also delve into how AI has the potential to improve efficiency, reduce costs, and enhance decision-making processes for businesses and look at the potential investment opportunities that AI presents for investors.

You can watch the full recording of the presentation here.

A recent study by Fidelity Investments found that 40% of women think they should be doing more with their money, while this year’s Pensions Policy Institute report shows that women will need to work an extra 19 years to retire with the same pension pot as men.

On International Women’s Day, portfolio managers Sophie Yabsley and Holly Warburton discuss some of the barriers for women in investing and share some simple, practical steps for anyone looking to start investing.

Together they discuss the difference between saving and investing, risk versus volatility and how to take the first steps to making your money work for you.

Sophie also shares two things she wishes everyone knew about investing.

Other podcasts you might be interested in:

Understanding saving vs investing

Understanding volatility as part of the investment process

Sources:

Fidelity investments study (2023)

The Gender Pensions Gap Report (2024)

In his first, information-packed update of the year, Ravenscroft CIO Kevin Boscher looks at some of the key questions facing investors and markets as a whole following the rollercoaster ride that was 2023.

The Covid-19 pandemic was a macroeconomic earthquake, with the reverberations being far-reaching. In this podcast, Kevin considers what is happening with inflation and discusses why the Fire vs Ice debate still rages for 2024. He also discusses the bond and equity rally that occurred towards the end of last year and examines whether this trend will continue.

Finally, he provides an outlook for major economies and highlights what we should keep an eye on over the next 12 months. Although the ‘easy money era’ is almost certainly over, and despite the enduring challenges, the long-term outlook remains broadly positive.

You can read more from Kevin in his latest Boscher’s Big Picture.

(00:39) Will the bond and equity rallies persist?

(02:03) How the pandemic was a macroeconomic earthquake

(07:25) Why the Fire vs Ice debate rages on for 2024

(10:47) The ‘easy money era’ is almost certainly over

(12:48) The global economic, inflation and interest rate outlook remains challenging but is improving

(13:51) The cyclical transition from disinflation to policy reflation (falling rates) is the key theme for this year

(16:01) The outlook for bonds and equities looks positive for 2024 and beyond

(20:07) Our long-term themes remain compelling but are evolving

(22:40) What we’re keeping a close eye on for 2024

(24:47) The macroeconomic environment remains uncertain, but we are hopeful that the market rally can continue and broaden out as the year develops

The Ravenscroft Discretionary Team:

The investment markets in 2023 have been influenced by many factors from the central banks’ monetary policies to volatility in energy prices and continuing pinch points in global supply chains. Against this backdrop there have been positives and negatives for our investment teams. 

In this podcast three of our multi-managers get together to discuss the notable events of the year; David Le Cornu who runs the Balanced Fund, Bob Tannahill manager for our income strategies and Shannon Lancaster who leads the Global Solutions strategy give their views on how these events have played out in the investment markets and what the opportunities could be for 2024. 

(00.23) – Introduction to the three managers

David Le Cornu 

(00.56) – Why have the Magnificent Seven attracted so much attention?

(05.00) – Active investing and the Magnificent Seven in 2023   

(06.45) – AI and technology as a long term investment theme -  looking ahead to opportunities in 2024

Bob Tannahill 

12.09 -  Bond markets in 2023

16.47 – The outlook for bond markets in 2024

19.23 – The strength of holding bonds in the longer term

Shannon Lancaster

(20.12) – How have our themes performed in 2023?

(22.40) – Environmental solutions and energy transition – what has happened in 2023?

(24.28) – What’s the outlook for these stocks in 2024?

(25.38) – Summary for each of the managers and looking forward to 2024

*Please note that Global Solutions is an offshore fund only available in the Channel Islands and Isle of Man. It is not available to UK investors.

Ben Byrom: 

Ben Byrom has managed the Ravenscroft Global Blue Chip fund for over a decade, in which time there have been market ups and downs, the emergence of new technologies and the rise of some mega, global companies. 

In this podcast he talks to Sam Dovey about what sets the Global Blue Chip Fund apart from its peers and what he and the Global Blue Chip team have learnt from the past 10 years of investing in the equity markets. 

Additionally he and Sam discuss what they look for in a stock and the advice Ben would give for anyone getting started in investing. 

(01.09) – What is the Global Blue Chip Fund and what sets it apart from its peers .

(03.22) – what have you learnt over the past decade of running the fund 

(05.20) – If you could own one stock for the rest of your life, what would it be? 

(06.45) – what advice would you give someone starting out in investing; what should they look out for?