The Asset Allocator Podcast: Recent Episodes
Asset Allocator
Every week the Asset Allocator Podcast discusses the big issues in UK fund selection, the major investment trends of the moment, and exclusive data on how wealth managers are positioning their portfolios. They'll be joined by guests from across the profession to unpick some of these trends.
Asset Allocator is FT Specialist's newsletter for wealth managers, fund selectors and discretionary fund managers. To sign up to the free newsletter, click here.
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Many investors focus on the ups and downs of particular countries and regions, but in a globalised world themes are becoming an increasingly important factor in allocation.
This week, while David Thorpe enjoys himself in Portugal, Dave Baxter and Joseph Wilkins are joined by Natasha Ebtehadj who runs the Artemis Global Select fund, to discuss the themes which are driving her investment decisions.
In this edition of the Asset Allocator Podcast, which is sponsored by Artemis, they discuss the importance of scale, how she views the increasingly crucial semiconductor sector and why she has recently bought a Brazilian bank and what that says about the interest rate cycle.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
One of the challenges faced by investment managers lately has been the relative attractiveness of money market funds, given the current macro environment.
This week David Thorpe and Joseph Wilkins are joined by Peter Dalglish, Parmenion's chief investment officer, to discuss the pros and cons of these funds.
They also discuss how he is allocating through a year full of elections and political risk, and they discuss how his fixed income allocations have shifted.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
One of the long-running trends in the world of portfolio management has been the gradual fall in average allocations to UK equities.
In this week's edition of the podcast, which is sponsored by Artemis, Joseph Wilkins and David Thorpe are joined by Henry Cobbe, head of research at Elston Consulting, to discuss the outlook for UK equities. They also discuss the dominance US equities have over global equity funds and what alternatives there are.
They also discuss the challenges of building portfolios for retirement in light of the FCA's recent review.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
The pros and cons of paying an active manager to hunt down outperformance are often hotly debated, and this week we join in.
In the latest edition of the Asset Allocator Podcast, Dave Baxter, Joseph Wilkins and David Thorpe debate some recent comments by Sparrows Capital's chief investment officer that hunting down alpha is, ultimately, futile.
They also discuss the legacy of Neil Woodford on fund selection, the large US exposures in allocators' favourite global equity funds and they weigh up the pros and cons of a Chrysalis recovery play.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
Bonds have been a very eventful place to be over the past 12 months or so and on this week's podcast, which is supported by Artemis, we have a chat with David Ennett, manager of Artemis High Income and Artemis Strategic Bond, about high yield bonds.
He has a chat with David Thorpe, contributing editor on Asset Allocator, about why they are particularly attractive at the moment, how the make up of the high yield market has changed in recent years and the impact of looming monetary policy changes on high yield bonds.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
One of the latest entrants to the portfolio management market in the UK has been Soderberg & Partners, the Swedish wealth manager which has already bought up several firms. This week Joseph Wilkins and David Thorpe talk to the head of Soderberg & Partners Asset Management, Fredrik Borjesson, about his new portfolio proposition, home bias, Nordic equities and the next generation of portfolios.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
This week we catch up with Ben Seager-Scott, the newly-installed chief investment officer at Mazars. In this week's edition of the podcast, which is supported by Artemis, he has a chat with Joseph Wilkins and David Thorpe about how he's been reacting to shifting central bank rhetoric, why he's not worried about inflation proving sticky, what he's making of the equity rally and why he's sceptical about the growth of the active ETF market.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
On this week's podcast Dave Baxter, funds editor on the Investors Chronicle, and David Thorpe, contributing editor on Asset Allocator, discuss why DFMs are feeling more positive about equities amid the hope that a hard landing has been avoided.
They also discuss the rising average exposure to commodities among allocators in our database and the recent surge in the price of gold, plus they talk about growth's continued dominance over value among fund launches.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
UK equity funds have suffered their fair share of outflows in recent years - though the FTSE 100 recently hit an all time high and many describe UK equities as incredibly cheap.
In this edition of the podcast, which is supported by Artemis, David Thorpe and Joseph Wilkins talk to Ed Legget, who runs the Artemis UK Select fund, about the future prospects of UK equities.
They discuss why some UK equity active managers have struggled for performance, whether UK equities will continue to be this cheap, the impact of the looming general election and the low turnover in Legget's fund.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
This week Shanti Kelemen, chief investment officer at M&G Wealth, joins Joseph Wilkins and David Thorpe to discuss US equities and the extent to which she's worried about volatility caused by the looming presidential election.
They also discuss the state of the wider US economy and whether the divergence between inflation and interest rate expectations are causing her to shift her fixed income allocations.
Kelemen also explains whether she sees value in emerging markets due to shifting monetary policy.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
A lot of the talk relating to changes in monetary policy rotate around their effect on bonds and equities, but this week we have a chat with Bill Dinning, chief investment officer at Waverton, who is paying keen attention to the effect they will have on real assets.
We spoke to Dinning about why he is seeing an opportunity in real assets, how he's adjusting his fixed income allocations and why he's particularly keen on investment trusts at the moment.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
For some time the UK has been described as a bargain, but average exposures to the home market in the Asset Allocator database have not budged.
In this week's podcast, which is supported by Artemis, David Thorpe and Joseph Wilkins are joined by Darius McDermott, who advises the Chelsea Managed Funds range, to discuss the extent to which the UK is currently a bargain compared to the US.
They also discuss his use of fixed income in an era of peak rates and the wide range of alternative funds which he uses.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
To receive the Asset Allocator email in your inbox for free, sign up here.
Hosted on Acast. See acast.com/privacy for more information.
This week Asset Allocator acting editor Damian Fantato has a chat with funds correspondent Joseph Wilkins and contributing editor David Thorpe about Tam Asset Management's seed funding of future fund management talent.
They also discuss the British Isa, which was launched earlier this month at the Budget, and the use of UK equities by some portfolio managers. Then they discuss bonds, alternatives and whether the turbulent economic period we are in will give rise to changing demands from portfolio managers.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
Investing in emerging markets was once seen as a commodity play but on this week's podcast, which is supported by Artemis, we have a chat with Raheel Altaf, who runs the Artemis SmartGarp Global Emerging Market Equity fund to discuss how this has changed.
He joined David Thorpe, contributing editor on Asset Allocator, and Joseph Wilkins, funds correspondent on Asset Allocator, to talk about the changing face of emerging market investing, the role of China, and where he sees the next stage of emerging market growth coming from.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
When high profile fund managers leave big companies to set up on their own, it is often assumed the assets will follow them almost automatically.
But this week Joseph Wilkins and David Thorpe have a chat with Mark Preskett, portfolio manager at Morningstar, to discuss the challenges of operational due diligence on boutique fund houses which have been set up by one fund manager.
They also discuss why he is taking a "patient" exposure to China and whether US multiples are sustainable.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
The debate around China versus India has been a biggest party in town lately, as far as emerging markets are concerned.
This week Joseph Wilkins and David Thorpe are joined by Will Bartleet, chief investment officer at Pacific Asset Management, who has a higher exposure to emerging markets than his peers, to discuss his views on the region.
They also discuss his large exposure to global equity funds and how he uses alternatives.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
One of the topics of debate in recent months has been the long-term investment case for China versus India.
This week Dave Baxter, funds editor on the Investors Chronicle, Asset Allocator funds reporter Joseph Wilkins and contributing editor David Thorpe have a chat about the choices allocators are making in respect of India and China, and how this is reflected in the emerging market funds they are using.
They also discuss the issue of fund costs and the changing popularity of funds in the UK growth space.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
What with the strong performance of the US market driven by a handful of tech stocks and the looming presidential election, it might feel at times that the US is never far from the news.
So on this week's podcast, which is supported by Artemis, David Thorpe and Joseph Wilkins are joined by Cormac Weldon, head of US equities at Artemis, to dissect matters.
They discuss the state of the US economy, whether the upcoming presidential election represents political risk, what has become of the American consumer and inevitably the Magnificent Seven.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
There has been a lot of talk about concentration risk and the rise of the Magnificent Seven stocks but this week we talk to Richard Philbin, chief investment officer for investment solutions at Hawksmoor, who takes a different view and argues in favour of US concentration risk.
He joins Joseph Wilkins and David Thorpe and they also discuss the challenges of the outsourced chief investment officer model and the recent restructuring of Hawksmoor's parent company Hurst Point.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
US equities did very well during 2023 which means valuations are now high. This raised the question of what the investment case might be for investing in stocks which might be overvalued.
In this edition of the Asset Allocator Podcast, which is sponsored by Artemis, Joseph Wilkins and David Thorpe are joined by Alex Harvey, senior portfolio manager at Momentum.
They discuss US equities, the outlook for the US economy, the dangers of style risk, the use of active and passive and the lure of cash in a higher rate environment.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
The start of the year sees the publication of the traditional letter from Terry Smith, manager of Fundsmith Equity - the biggest fund in the UK retail market and one of the most popular in the Asset Allocator database.
Fundsmith remains popular despite its three years of underperformance and this week David Thorpe, Joseph Wilkins and Dave Baxter get together to discuss why.
They also discuss the make-up of European equity funds including the rise of Novo Nordisk and the strong performance of the Italian stock market.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
The world of fixed income investing has been in flux for several years due to a succession of events including the 2022 "mini" Budget, rising interest rates to tackle spiralling inflation and wider political instability.
This week we are joined by Stephen Snowden, head of fixed income at Artemis and manager of the Artemis Corporate Bond fund - the most popular corporate bond fund in our database, to discuss how he's viewing the world going into 2024.
He touches on his views on duration, what opportunities there are in high yield and what the biggest risks facing bond investors are in the coming year.
The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
James Penny, chief investment officer at Tam Asset Management, talks to Asset Allocator funds correspondent Joe Wilkins and Investors Chronicle's Dave Baxter about market distortions over the past 12 months and where investors should allocate in 2024. While the so-called 'Magnificent Seven' are "priced for absolute perfection", according to Penney, some economists still think there will be a hard landing in the US which could be bad for risk assets "in total". They also discussed whether fund houses should have value funds "in their locker", springboarding from the news about the change of manager on Jupiter Special Situations - a fund aimed at discovering value.
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In this first edition of the Asset Allocator Podcast of 2024, which is supported by Artemis, David Thorpe and Joseph Wilkins are joined by Jason Day, senior investment manager at Abrdn.
They discuss how Jason is viewing fixed income as we enter the new year with yields having pushed higher over 2023 and why he thinks this represents a "major reset".
Jason then explains his thinking on UK equities given the recent falls in valuations and how he views the investment case for US large caps.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
As the year draws to a close, Dave Baxter, David Thorpe and Joseph Wilkins gather around a microphone with some mince pies to discuss a recent report into the fastest growing DFMs and the UK equity funds which have lost and gained popularity among allocators.
They also make some outlandish predictions for 2024 in what is Asset Allocator's final podcast of 2023.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
At the start of 2023 it seemed rising interest rates were putting an end to the golden era of tech stocks, but these companies have actually surged with the Nasdaq up 47 per cent so far this year fuelled by the explosion of interest in artificial intelligence.
This week David Thorpe and Joseph Wilkins are joined by David Coombs, head of multi-asset at Rathbones, to debate whether this AI-fuelled surge is here to stay.
They also discuss government bonds, where Coombs is decidedly overweight compared to his peers, and Coombs' approach of investing directly in stocks rather than funds.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week David Thorpe and Dave Baxter are joined by contributor Joseph Wilkins. They discuss the shifts in allocation seen in cautious portfolios in recent months, with equities down and fixed income remaining static.
They also discuss the fact DFMs have been finding it particularly hard to pick out-performing Japanese equity funds plus they consider the rising popularity of M&G Japan.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week David Thorpe is joined by Haig Bathgate, head of investments at Atomos, to discuss why he's so positive on China at the moment and the potential impacts of the geopolitical tensions between China and the West.
They also discuss the recession outlook for the West and whether we have reached peak rates in the US and UK.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week David Thorpe, contributing editor of Asset Allocator, and Dave Baxter, funds editor on the Investors' Chronicle, discuss the most popular funds held in income portfolios.
They look at the UK equity income funds which are attracting the most attention and then they look further afield at the use of emerging market funds for income and the role of China.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week David Thorpe, contributing editor at Asset Allocator, and Dave Baxter, funds editor on the Investors' Chronicle, are joined by Roger Aliaga-Diaz, global head of portfolio construction at Vanguard.
They discuss the challenges posed to products like Vanguard Lifestrategy by the breaking of the correlation between equities and fixed income, and whether this shift is likely to be permanent or not. They also discuss whether Vanguard would consider moving into the alternatives space and the challenges this poses for investor risk appetites.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
Asset Allocator has recently started gathering and analysing DFM sentiment to different asset classes. In this week's edition of the podcast David Thorpe, contributing editor of Asset Allocator, and Dave Baxter, funds editor on the Investors' Chronicle, have a chat about what we found.
They discuss the fact allocators are overwhelmingly positive towards Japanese equities and they debate whether this optimism will eventually trickly into portfolios. They also discuss why DFMs may be feeling particularly negative towards US equities.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
The Asset Allocator Podcast is back from its summer break, but two of its hosts are not: deputy editor Damian Fantato sits in while Dave Baxter and David Thorpe are away to have a chat with Alex Funk, chief investment officer at Schroder Investment Solutions.
They discuss the current state of fixed income and why Alex has been buying emerging market debt, they explore some of the equity market trends of 2023 so far including the strong start Japan had to the year and the AI-driven resurgence of US stocks. Finally they discuss the prospect of a bitcoin ETF which has been in the news recently, and whether this would have a role in portfolios.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
In this episode, Giles Parkinson, senior fund manager at Close Brothers Asset Management and David Baxter, funds editor at Investor's Chronicle, speak to Asset Allocator's contributing editor David Thorpe about the response to rising yields across the market in 2022. Investors' Chronicle readers have also felt the same concerns about fixed income in 2022. But what are the real safe haven plays? The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
Since we have passed the half way point of 2023, Asset Allocator contributing editor David Thorpe and Damian Fantato have a chat about how balanced portfolio allocations have changed over the course of the year to date and over the past 12 months.
They discuss the uptick in allocations to global funds and the changing balance between equities and bonds. They also discuss how allocators have been adjusting their income portfolios.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
Last week Simon Evan-Cook made his formal return to the multi-asset sector by launched the Downing Fox model portfolios.
Evan-Cook came to prominence as a senior member of Premier Miton's multi-asset team, which he was a member of for 14 years before leaving in 2021.
As he launches his new multi-asset proposition, Evan-Cook joins David Thorpe and Dave Baxter to discuss what he's trying to do differently with the Downing Fox range of portfolios.
They discuss why he prefers to invest in smaller funds, why it's a good thing for DFMs to use global equity funds and the unique approach he is taking to portfolio construction.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week, while David Thorpe is on holiday, Dave Baxter and Damian Fantato have a chat about China and the most popular Asia Pacific funds among DFMs.
They also discuss the strong start to 2023 which Japanese equities have had, and how allocators seem indifferent to this.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
The members of the Asset Allocator 100 Club 2023 have now been published and this week David Thorpe, contributing editor at Asset Allocator, and Dave Baxter, funds editor on the Investors' Chronicle, have a chat about the funds which have made the grade.
They discuss the success of smaller funds and firms this year and the fact investment trusts have had a more successful year in 2023 than in last year's edition of the 100 Club.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
UK equities have faced month after month of outflows going back years, but some funds have attracted interest from DFMs during that period and some funds have not.
In this episode, which was recorded live on LinkedIn, David Thorpe, contributing editor on Asset Allocator, and Dave Baxter, funds editor on the Investors' Chronicle, have a chat about the funds which fall into those categories.
They also have a chat about US Treasuries, ahead of the looming debt ceiling deadline and how DFMs are getting exposure to them - if at all.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
*NEWS* On May 25 at 11am we will be recording a live, interactive edition of the Asset Allocator Podcast on LinkedIn. Sign up here: https://www.linkedin.com/events/7056959728886673409/about/
There is an ongoing debate at the moment between those who are proofing against inflation, and those who are proofing against a recession. Can portfolio managers do both at the same time?
This week Dave Baxter, funds editor on the Investors Chronicle, and David Thorpe, investment editor on FTAdviser, are joined by Olivia Geldenhuys, investment director at Schroder Investment Solutions, to discuss this and whether the 60/40 portfolio is back (if indeed it ever went away).
They also discuss the thorny issue of timing an exit from a fund.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
This week Dave Baxter, funds editor on the Investors' Chronicle, and David Thorpe, investment editor on FTAdviser, have a chat about Asset Allocator's recent coverage of equity income funds and concentration risk.
They then move on to discuss the state of income portfolios more broadly and they discuss the continued outflows from UK equities, and whether the UK market is too focused on dividends over growth.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
*NEWS* On May 25 at 11am we will be recording a live, interactive edition of the Asset Allocator Podcast on LinkedIn. Sign up here: https://www.linkedin.com/events/7056959728886673409/about/
Hosted on Acast. See acast.com/privacy for more information.
Rising inflation has been one of the challenges facing investors over the past year or so. But as this appears to slow, where do we stand?
This week David Thorpe, contributing editor on FTAdviser, and Dave Baxter, funds editor on the Investors' Chronicle, have a chat with Dan James, head of asset management at Charles Stanley, about portfolio construction in inflationary times.
They discuss income, the apparent break down in the correlation between bonds and equities, and the challenges of diversification.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week Damian Fantato, deputy editor of Asset Allocator, sits in with Dave Baxter off sick. He and David Thorpe have a chat about cash levels in DFM portfolios and how that has changed recently.
They also discuss the fallout of the Silicon Valley Bank collapse, and how some of the most popular US equity funds among DFMs have large exposures to financial stocks.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
Speaking to David Thorpe, contributing editor of Asset Allocator, and Dave Baxter, funds editor for Asset Allocator's sister title Investors' Chronicle, Lowe said it was important to understand the terminology around sustainability and impact and how it is used. The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
This week David Thorpe, investment editor at FTAdviser, and Dave Baxter, funds editor on the Investors' Chronicle, have a chat about the trials and tribulations of the absolute return sector, including Abrdn's recent decision to launch a strategic review into the Gars fund.
They then move onto Abrdn's announcement this week to sell its DFM business to LGT and why they found it a bit of a perplexing move.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
This week David Thorpe, investment editor on FTAdviser, and Dave Baxter, funds editor on the Investors' Chronicle, are joined by Alena Kosava, head of research at AJ Bell, to discuss the challenges of investing for income in the current climate.
They discuss the relative attractiveness of different types of bonds, how Alena views the UK equity market at the moment and whether it is inevitable that taking income from capital gains will become the norm for income-seeking clients.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week David Thorpe, contributing editor at FTAdviser, and Dave Baxter, funds editor on the Investors' Chronicle, had a chat about how DFMs have been adjusting their portfolios as an uncertain 2023 gets under way.
They discuss the barbell approach which some DFMs appear to be taking towards fixed income duration, the use of infrastructure and the move away from more niche assets like music royalties.
On the equity side, they discuss the ever-growing popularity of Ninety One Global Environment which was only launched in late 2019 and how the equity income mix might change.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Investors haven't been able to ditch UK equities fast enough, with billions of outflows from these funds during 2022. But that stands in contrast to the recent performance of the FTSE 100, which has approached record highs.
So how can this circle be squared? To find out, we had a chat with Fahad Kamal, chief investment officer at Kleinwort Hambros, and Georgina Taylor, head of multi-asset at Invesco.
They discuss whether valuations are particularly attractive at the moment, whether the cyclicality of the FTSE 100 is a positive and the pros and cons of equity income funds.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week David Thorpe, contributing editor on FTAdviser, and Dave Baxter, funds editor on the Investors' Chronicle, reflect on 2022 and look ahead to 2023.
They discuss how income investors fared better than others during 2022, the trend among DFMs away from using strategic bond funds, and they reflect on last year's rotation from growth to value investing, and how it might pan out in the coming year.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
After an eventful year, Alex Funk, chief investment officer at Schroders Investment Solutions, joins David Thorpe, contributing editor at FTAdviser, and Dave Baxter, funds editor at the Investors' Chronicle, to reflect on 2022.
They discuss where Alex looked to find protection during the year's market turmoil, the outlook for 2023 and the challenges of trying to time a "the most forecasted recession ever".
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
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This week David Thorpe, contributing editor of FTAdviser, and Dave Baxter, funds editor of the Investors' Chronicle, are joined by Fahad Hassan, chief investment officer of Albermarle Street Partners.
They discuss the ongoing risks within equities and why he has sold out of multi-asset style funds. Fahad also explains why he's considering high-yield bonds and he weighs up the pros and cons of these assets versus emerging market debt.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week Jason Day, senior investment manager at Abrdn, joins Dave Baxter, funds editor at the Investors' Chronicle, and David Thorpe, contributing editor at FTAdviser, to discuss his approach to currency hedging amid the recent volatility in markets.
They also discuss why he likes the "Jurassic Park" nature of UK equities, his use of trackers and how he has shaken up his alternatives holdings recently.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week David Thorpe, contributing editor of Asset Allocator is joined by Will Thompson, portfolio manager at Pacific Asset Management, while Dave Baxter is off on his holidays somewhere more exciting than the Asset Allocator podcast studio.
Thompson tells us why and how he's preparing for a hard landing, how he's thinking of adjusting his bond holdings as we reach an interest rate "tipping point" and whether fixed income will continue to play an important role as ballast in portfolios given its volatility.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week Eleanor Ingilby, deputy head of portfolio management at Atomos (which until recently was called Sanlam), joins David Thorpe, contributing editor of Asset Allocator, and Dave Baxter, funds editor of the Investors Chronicle, to discuss how she is using property to achieve diversification and whether any uncorrelated assets really exist anymore.
They also discuss how Atomos's split from the wider Sanlam Group is changing the way its portfolios are managed.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
Hosted on Acast. See acast.com/privacy for more information.
This week Jasper Thornton-Boelman, investment director at Parmenion, joins us to discuss how he has been using bonds in his portfolios recently amid the market turmoil and whether the recent volatility has changed their risk profile.
He also discusses Parmenion's historic preference for direct property over infrastructure and why that is changing. Jasper also explains his approach to equity income and why Parmenion is the only DFM in the Asset Allocator database to use passive funds for UK equity income.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
(NB - this podcast was recorded before the Bank of England launched its £65bn bond-buying programme which caused gilt markets to recover sharply)
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This week David Thorpe, contributing editor on FTAdviser, is joined by Matthew Yeates, deputy chief investment officer at 7IM, and Dave Baxter, funds editor on the Investors' Chronicle.
They discuss why a "changing tide" in manufacturing is the reason Matthew has moved underweight equities, and why he has been sceptical about US equities in particular for a while.
Matthew also explains why he's keen on market neutral funds amid the bond sell-off seen this year - even though he doesn't see them as a panacea.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
This week Dave Baxter, funds editor of the Investors' Chronicle, and David Thorpe, contributing editor of FTAdviser, are joined by James Burns, managing partner for investment management at Evelyn Partners.
They discuss the higher than average equity allocation within James's portfolios compared to other DFMs - 77 per cent in his balanced portfolio - and why he might start looking to cut his overweight. They also explore why James and his team are looking at government bonds after being underweight these for several years.
James also explains why he regrets not increasing his exposure to absolute return funds last year.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
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Many DFMs are launching ESG model portfolios and Charles Stanley has been one of those, having launched its responsible portfolios in April. They are managed by investment director Jane Bransgrove, who has joined us this week.
She has a chat with David Thorpe, contributing editor at FTAdviser, and Dave Baxter, funds editor on the Investors' Chronicle, to discuss the challenges of understanding what an ESG fund will do and the potential pitfalls of fund labelling.
They discuss the value of engagement versus divestment and the challenges of diversification - specifically the lack of alternative asset funds. Jane also explains why Charles Stanley is looking into creating portfolios with specific climate targets and how they are going about that.
The Asset Allocator Podcast will be taking a short summer break and will return in early September.
It is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week Dave Baxter, funds editor of the Investors' Chronicle, and David Thorpe, contributing editor of FTAdviser, are joined by John Husselbee, head of multi-asset at Liontrust.
They discuss the danger of fund managers "changing their spots" by adapting their investment style to fit the changing macroeconomic environment, John explains why the portfolios he runs have a higher exposure to European equities than other DFMs, and they explore why the argument for using active management in regions such as the US has been weakened in recent months.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week Dave Baxter, funds editor of the Investors' Chronicle, and David Thorpe, contributing editor of FTAdviser, are joined by James Penny, chief investment officer at TAM Asset Management.
They discuss the outlook for the rest of 2022 and why James is sceptical about the idea of a rotation to value, they explore how James has been keeping his portfolios afloat during the past six months and they weigh up the issues of being underweight both equities and fixed income and the use of alternatives.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
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One of the biggest questions on the minds of asset allocators at the moment is around the role of bonds in portfolios. It has been a rocky period but from an income perspective, yields have risen.
This week FTAdviser contributing editor David Thorpe and Investors' Chronicle funds editor Dave Baxter are joined by Ninety One's head of multi-asset income John Stopford to discuss the role of bonds in portfolios and whether the long period of tailwinds for bonds are behind us.
The also discuss the options for alternative diversification and the sectors where income can be found at the moment.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
On this week's edition of the Asset Allocator Podcast, Ben Gutteridge, director of Invesco's model portfolio service, joins us to discuss why he thinks we have reached peak inflation and why he is optimistic about growth investing.
He joins David Thorpe, contributing editor of FTAdviser, and Dave Baxter, funds editor on the Investors Chronicle, to discuss the areas he's looking to move into as a result of his positive outlook.
Gutteridge also explains why he is moving into government bonds despite his optimism and he weighs up the prospects of a recession and its impacts.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week David Thorpe, contributing editor of Asset Allocator, and Dave Baxter, funds editor of Investors Chronicle, are joined by M&G Wealth's chief investment officer Shanti Kelemen.
They discuss whether the considerable and persistent outflows seen from UK equities in recent years is a reaction to shorter-term market factors or a sign that investors are falling out of love with the idea of "home bias".
Overall, since the UK voted to leave the European Union in 2016 there have been outflows of more than £21bn from UK equity funds.
They also discuss whether bonds are cheap yet, and whether the way valuation is communicated is a help or a hinderence.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
This week Asset Allocator contributor David Thorpe is joined by James Mee, co-head of multi-asset strategies at Waverton.
They why James thinks commodity price rises may become "demand destructive", which could lead to inflation falling. They also discuss other reasons why James thinks there will be a decline in inflation.
James also explains why he is concerned about sterling appreciating in value, why his allocation to real assets is at the highest level it has ever been at and what he looks for when investing in commodities.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week Asset Allocator contributor David Thorpe is once again flying solo, as Dave Baxter finds something better to do, but he is joined by Stuart Clark, manager of Quilter's Wealthselect portfolio range.
Quilter's Wealthselect range has recently expanded to include an ESG version, so David and Stuart discuss the challenges of building an ESG portfolio, how to avoid over-exposed to growth and how he uses thematic funds.
They also discuss why Stuart was "right for the wrong reasons" when he recently dialled down the equity exposure and increased bond and alternatives exposure in the broader Wealthselect range, and why he is planning to "sit tight" for now rather than make any further changes.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week, while Dave Baxter is on holiday, Asset Allocator writer David Thorpe is joined by Chris Metcalfe, co-founder and chief investment officer at Iboss to discuss whether the US is now cheap enough to increase weightings, on the back of sell-offs at the start of 2022.
They also discuss why Chris has started using absolute return funds again for the first time in several years, the prospects for alternatives such as gold and property, and what the movement of bond yields is telling us about fixed income.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week Darius McDermott, adviser to the Chelsea Managed Fund range, has a chat with Asset Allocator writers Dave Baxter and David Thorpe about moving away from government bonds and why some bonds still retain their attraction.
They also discuss the pros and cons of investing in assets such as music royalties and shipping, and they discuss whether the value rally might last longer than some predict.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week David Coombs, head of multi-asset investments at Rathbones, has a chat with Asset Allocator writers Dave Baxter and David Thorpe about the larger-than-average cash holdings his portfolios have tended to have and how it is part of his approach to managing risk.
They also discuss his decision last year to reduce his exposure to technology, why he is investing in agriculture, and how inflation is making it a tricky time to enter the commodity market.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week Amy Lazenby, managing director of Close Brother's discretionary management service, has a chat with Asset Allocator writers David Thorpe and Dave Baxter about how she is managing risk in 2022.
They also discuss whether the rotation to value might last, the possibilities of a monetary policy error and why she is using alternative investments. They also chat about how to be defensive in 2022, given the problems fixed income has faced so far this year.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
This week Justin Onuekwusi, head of retail investments at Legal & General Investment Management, has a chat with Asset Allocator writers David Thorpe and Dave Baxter about why he's so concerned about concentration risk - in particular the growing influence of a handful of stocks within US equity indices and the growing influence of US equity indices themselves within global markets.
They also discuss the use of passives in more niche markets, whether he's expecting more volatility over the next few years and whether he thinks we are entering a period when asset allocators are going to have to be more nimble with their market positions, rather than taking a longer-term view of their allocations.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
This week Nathan Sweeney, deputy chief investment officer for multi-asset at Marlborough, has a chat with Asset Allocator writers David Thorpe and Dave Baxter about some of the issues facing investors in early 2022 - particularly the potential for a sustained style rotation. They discuss the recent outperformance of the value-heavy UK equity market, whether central bankers are going to get the big calls right as they attempt to tackle the inflation which has caused problems for growth stocks recently, and how the rise of Asia and China fits into Sweeney's asset allocation thinking.
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In the first edition of 2022 Dan Kemp, chief investment officer at Morningstar Investment Management, has a chat with Asset Allocator writers Dave Baxter and David Thorpe about bonds - why they have suddenly become so important, the prospect of correlated declines in equity and bond markets and what the large amount of buying means. They also discuss some of the options when it comes to diversifying a portfolio.
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Independent fund expert Simon Evan-Cook discusses the major fund capacity and liquidity issues of the moment, and gives his thoughts on the fluctuating fortunes of asset management boutiques.
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Punter Southall Wealth chief investment officer Tom Becket talks to Asset Allocator’s Dan Jones about all things alternatives – from hedge funds to real assets and beyond – and discusses the extent to which they can help truly diversify portfolios.
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Sophie Kennedy, joint chief executive of EQ Investors, talks to Asset Allocator about issues in ESG fund selection, established vs new asset managers, and the impact of minimum sustainability standards on passive funds.
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This week, Asset Allocator editor Dan Jones and deputy editor David Baxter use exclusive data to examine accusations of home bias in balanced portfolios, and look at some of the emerging quirks of ESG and thematic fund selection.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.
This week Ben Seager-Scott, head of multi-asset funds at Tilney, joins Dan and David to talk to Asset Allocator about inflationary risks and false dawns, regional equity allocations, and diversity in the fund management industry.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
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In the first ever Asset Allocator Podcast, Barclays investment manager Stephen Peters talks to the team about the big value versus growth debate, Mark Barnett's chances of success at his new home with Tellworth Investments, and the potential problems facing sustainable UK equity funds.
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
See acast.com/privacy for privacy and opt-out information.