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The Asset Allocator Podcast

Home comforts

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.

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  • The challenge of building portfolios for retirement

    19:51
    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.
  • Good alpha is so hard to find

    30:28
    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.
  • How the high yield bond market is changing

    26:05
    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.
  • How a Swedish wealth manager tailored its MPS to UK investors

    19:33
    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.
  • Is inflation's stickiness something to worry about?

    29:26
    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.
  • Has a new spring sprung for equities?

    16:11
    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.
  • Will UK equities continue to be this cheap?

    36:09
    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.
  • Priced for perfection?

    16:36
    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.
  • Bill Dinning sees an opportunity in real assets

    21:17
    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.