The Ravenscroft Podcast: Recent Episodes
Ravenscroft
Covering all areas of investing; from the macro environment of inflation, exchange rates and global trade, to the detail of investment choices and how it all works.We’ll bring these conversations to you in a straightforward, friendly and jargon-free way.
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
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?
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.
Risk and volatility are two investment terms that are often used interchangeably, but in fact mean two very different things.
In this podcast, Sam Dovey and Holly Warburton define risk and volatility as part of the investment process and explain the differences between them. They also delve into the different levels of volatility across various asset classes, from cash to emerging market equities, and how they use this knowledge to build portfolios that offer the best possible risk-return profile for their clients.
Finally, Sam and Holly also discuss how recent market volatility has impacted returns and some of the key questions they encourage investors to consider before investing.
The Ravenscroft offshore fund range referred to within this podcast is only available offshore and is not suitable for UK investors.
Long-term Ravenscroft Global Blue Chip holding The Walt Disney Company is going through a period of significant change at a time of heightened industry disruption and mounting tension between creatives and their corporate masters. The market is somewhat sceptical Bob Iger’s restructuring plan will be successful let, alone what the long-term future may hold for one of America’s biggest and most successful entertainment businesses.
In this podcast, Ben Byrom and Sam Corbet discuss the challenges Disney faces and argue that its stock is undervalued, but not without its risks.
1:02 How and why we monitor earnings
2:22 Our journey with Disney
6:40 The shift from linear TV to a DTC service
8:05 The value of Disney
11:3 0 Q3 update & Chartered Communications agreement
15:13 Broadband opportunities & Comcast deal
22:05 Adding value for consumers
In the UK alone there are almost 11 million people aged 65 and over - 19% of the total population. In 10 years’ time, this figure is expected to reach almost 13 million people, or 22% of the population.
In our latest podcast, Bob Tannahill and Tom Craske look at retirement and how to plan for this milestone from an investment perspective. Together they outline potential income streams during retirement, explain the concept of compounding and how this can benefit savers as well as the different approaches to risk and how these might change as one nears retirement. They also summarise the three key stages people will go through ahead of retirement and the steps they should be taking in each to try and ensure sufficient funds in later life.
Tom’s article about compounding is featured in the June edition of Business Brief, which you can read here.
The history of gold is as long as it is interesting and its relationship with the US dollar equally so. Going all the way back to 1792, Matt Girard and Stewart Moyles from our precious metals team explore the history of gold and how (and why) this ‘safe haven’ asset has been used as a store of value for centuries.
Together the pair take us back in time to look at key moments such as the Gold Standard Act and the Nixon shock, before discussing central bank reserves and what makes this precious metal a safe and liquid asset, and, finally, the inverse relationship between gold and USD.
After 15 years of low interest rates, the Ravenscroft cash management team is having a turn in the spotlight.
Cash traditionally has been a low volatility investment option. Now, with higher interest rates, investors are starting to question whether the additional risk of bonds and equities is worth it.
In this podcast Ashleigh Morris talks to Jon Pope from the cash team to find out what impact rising interest rates and inflation have had on market sentiment and what the outlook is for cash portfolios.
Please note that the Ravenscroft cash management service is only suitable for UK professional investors or offshore investors.
When the launch of the Ravenscroft Global Solutions Fund* was planned for March 2022, nobody could have predicted that in the same month Russia would invade Ukraine. The ramifications of this have been felt far and wide, with inflation and interest rates reaching levels not seen since the 1970s.
In our latest podcast, Global Solutions strategy lead Shannon Lancaster chats to group head of fund research, Samantha Dovey, to discuss the fund’s inaugural year.
It has been a challenging 12-months, with plenty to reflect on. Together the pair discuss how the events of the past year have impacted the fund, review some of the underlying funds and their performance and explore what the future could look like for the fund.
*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.
Taking a more optimistic view on the current market conditions, portfolio managers Shaun McDade and Georgie Fletcher choose to focus on the positives, rather than the negatives as they discuss five potential opportunities for investors in 2023.
Together the pair look at challenges such as the ongoing war in Ukraine, China’s zero-covid policy and tensions with the US, deglobalisation, the inequality gap, and interest rates and inflation as they discuss the various opportunities these present.
While comparisons have been made between current market conditions and those of the 2008 financial crisis, in some ways 2022 has been worse.
Portfolio diversification is one way investment managers try and reduce risk to safeguard clients’ money. But what does portfolio diversification mean, is there an optimal level of diversification, and are there times when it simply doesn’t work?
David Le Cornu, Ravenscroft’s Head of Discretionary Investment in Jersey, and Senior Investment Manager Jamie Mourant discuss all this and more.
The last year has been one unlike any other - rising interest rates and inflation have dominated headlines and, from an investment point of view, bonds and equities have had one of their worst years ever.
In our first podcast for the year, Ravenscroft’s chief investment officer Kevin Boscher talks to Ross Garrard from our advisory team about the impact rising inflation has had on global economy policy making and markets and what this means for investors.
Together the pair reflect on events which have led to the current conditions and what the outlook may be a year from now and longer-term (the good news is that it’s not as gloomy as one might think).
As parents, we often want to give our children the world, and while this might not literally be possible, financially planning for their future can be a good start.
Whether it’s putting away a lump sum or squirrelling away a portion of their pocket money each month, it’s never too early to start investing on their behalf.
In this podcast, which is based on the article ‘Grinch Mum’, Ashleigh Morris chats to Ravenscroft’s Head of Client Services, Sophie Yabsley, about Ravenscroft’s Investing for Children service.
Sophie has also written another article, ‘This Christmas, give the best gift that money can buy… time’, which you can read here.
Please note that the content discussed in this podcast only applies to Channel Island investors. If you are based in the UK or Isle of Man and have any questions about investing for your children, please contact us.
With markets in turmoil and investor uncertainty high, many are looking to gold to diversify portfolios. For those who may be considering precious metals, there are a few things worth knowing.
In our latest podcast Matt Girard and Stewart Moyles from the Ravenscroft Precious Metals team discuss five common misconceptions about gold. Together the pair explore everything from the price of gold to coins versus bars and product certificates.
In a recent weekly update, Matt Girard also discusses interesting trends in the silver market. You can read the full article HERE.
Guernsey is home to 300 captives, each playing a varying part in its group’s sustainability strategies and many of Robus clients have taken the extra step in choosing to follow the GIIA ESG Framework for insurers. In this jointly recorded podcast Robus invite Ravenscroft to set out how ESG considerations can be overlaid onto investment mandates for cash portfolios they manage. This podcast forms part of the Sustainable Finance Week 2022 fringe event programme.
Inflation is the most important issue for the global economy and financial markets right now, but we’re in unchartered territories – having never experience a global pandemic followed by war, nobody can be certain of the future path for inflation.
In this podcast Ravenscroft’s Chief Investment Officer Kevin Boscher looks at the possible outcomes of the current environment and what these could mean for our investment strategies.
Inflation is a hot topic at the moment and in our latest podcast we explore what inflation is, how it is measured and how current rates are impacting our investment decisions and portfolios.
Portfolio manager Georgie Fletcher is joined by Sam Corbet and Dario Milizia from the Global Blue Chip team who share their views on current market conditions and explain what causes inflation and why the reported levels might be different from the actual levels of inflation.
Cash, like equities and bonds, can be considered as a separate asset class, and in rising interest rate environments like we are currently seeing it can be a great way to diversify a portfolio.
In this podcast, Sophie Yabsley is joined by Jon Pope from our cash management team as they discuss all things cash. Together they explain what the Ravenscroft cash management service is, what to consider when investing cash and techniques for good cash management.
Please note that the Ravenscroft cash management service is only suitable for UK professional investors or off-shore investors.
In March we launched our newest product, the Ravenscroft Global Solutions Fund. Two months on, Sam Dovey and Shannon Lancaster, two of the driving forces behind the fund, catch up to provide an update on the fund and how it has performed since its inception.
For more information about Global Solutions, please click here.
It’s been a turbulent couple of months and a tricky time for markets. As we continue to navigate the ongoing uncertainty, Global Blue Chip Manager Ben Byrom chats with two of Blue Chip’s lead analysts, Sam Corbet and Oliver Tostevin.
Looking at the performance of some of the fund’s holdings, including Illumina, Etsy, Amazon, and Netflix, to name a few, they discuss what worked and what didn’t over this quarter’s earnings.
‘Saving’ and ‘investing’ are two phrases that are often used interchangeably, but in fact there are some important differences.
In this podcast, portfolio manager Holly Warburton explains exactly what each means and answers some common questions, including what’s the difference between saving and investing’ and ‘how much of my savings should I invest?’
Portfolio manager Ben Byrom sits down with Sam Corbet to discuss the best and the worst of the most recent quarter’s earnings from companies held within the Global Blue Chip portfolio.
After providing a brief market update, Ben takes a closer look at the earnings reports for Edward Lifesciences, L’Oréal, Amazon, Netflix, PayPal and Etsy.
As the world watches and the markets react to the Russia-Ukraine crisis, portfolio manager Bob Tannahill and Sam Dovey discuss what this means for our clients’ investments.