Afleveringen

  • Fund Selectors #3 - Ryan Hughes, Investments Director at AJ Bell

    Fund Selectors #3 - Ryan Hughes, Investments Director at AJ Bell

    · Fund Selectors

    In this episode of Fund Selectors, host Lucy Walker interviews Ryan Hughes, Investments Director at AJ Bell.

    The discussion covers Ryan’s 25-year career, from his early days in financial advice to building AJ Bell’s investment business from scratch.

    Ryan shares insights into understanding liquidity, team dynamics in fund selection, and the role of culture in investment performance.

    They also discuss the evolution of asset management and how firms must adapt to growing pressure on fees.

    0:03 - Introduction by Lucy Walker
    0:22 - Guest introduction: Ryan Hughes
    1:10 - Ryan’s career journey: from financial advice to fund research
    2:58 - Early lessons in financial advice and pensions
    4:16 - The tech bubble and crash’s impact on Ryan’s career
    5:53 - Continuous learning in the investment world
    6:53 - Building AJ Bell’s investment business from scratch
    10:14 - The challenge of starting with a blank slate at AJ Bell
    13:03 - Importance of using passive investments with active only when there’s a strong case
    14:45 - AJ Bell’s focus on passive and active allocations
    15:56 - How AJ Bell works with both DIY investors and advisors
    22:06 - Experience and track record as a key factor in selecting active managers
    25:05 - The evolving importance of liquidity in fund selection
    30:18 - Deep understanding of managers’ philosophy and processes
    34:03 - How team dynamics affect investment decisions
    37:00 - Red flags in fund management: cultural and organizational issues
    44:46 - How active management can remain competitive
    49:04 - The success of investment trusts in lowering fees
    53:03 - Ryan’s recommended book: The Hour Between Dog and Wolf by John Coates

  • Fund Selectors #2 - Carly Moorhouse, Fund Research Analyst at Quilter Cheviot

    Fund Selectors #2 - Carly Moorhouse, Fund Research Analyst at Quilter Cheviot

    · Fund Selectors

    In this episode of Fund Selectors, host Lucy Walker interviews Carly Moorhouse, an award-winning fund research analyst at Quilter Cheviot.

    The conversation explores Carly's approach to fund selection, highlighting her emphasis on trust, passion, and investment philosophy. Carly shares insights into the importance of meeting managers face-to-face, the unique strengths of boutique managers, and her experiences from global research trips.

    They also discuss the value of personal instincts in fund selection and Carly's sociology background's influence on her career.

    0:03 - Introduction by Lucy Walker

    0:21 - Guest introduction: Carly Moorhouse

    0:57 - Importance of trust in fund management

    1:48 - Carly’s human approach to fund research

    2:15 - Carly’s principles in fund selection

    4:21 - Sticking to a philosophy in tough times

    5:05 - Building and destroying trust

    6:40 - Importance of face-to-face meetings

    10:00 - Carly’s sociology background

    13:21 - Attraction to boutique managers

    15:27 - Insights from research trips

    17:04 - Macro versus micro focus in different regions

    20:57 - Recent trips to the US and Asia

    26:00 - Growing up in Asia and its impact on her career

    31:08 - Carly’s book recommendation

    32:06 - Trusting gut instincts in fund selection

    34:05 - Final question to next guest

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  • Fund Selectors #1 - Simon Evan-Cook, Fund Manager at Downing

    Fund Selectors #1 - Simon Evan-Cook, Fund Manager at Downing

    · Fund Selectors

    In this episode of Fund Selectors, host Lucy Walker interviews Simon Evan-Cook, an experienced fund manager at Downing.The discussion delves into Simon’s investment philosophy, the challenges and opportunities in fund management, and traits that distinguish great fund managers from average ones.Simon discusses the importance of active management, the role of boutiques, and the significance of being true to your investment philosophy.They also touch on industry trends, career risks, and founder fee structures.Timestamps:0:03 - Introduction by Lucy Walker0:34 - Guest introduction: Simon Evan-Cook2:16 - Simon’s investment philosophy3:08 - Belief in active fund management4:09 - Starting with a blank sheet at Downing5:03 - Challenges and opportunities in fund management6:21 - Identifying passionate fund managers7:49 - Traits of exceptional fund managers: “Belicious”10:54 - The importance of being true to one’s investment philosophy13:00 - Evaluating fund managers’ flexibility and decision-making17:03 - The impact of career risk on fund management decisions19:38 - Advice for asset managers on handling career risk23:30 - Simon’s approach to portfolio construction24:57 - The role of diversification in Downing Fox portfolios28:01 - The “Whiskey and Water” model30:45 - Time in the market vs. timing the market32:27 - Blending different investment styles34:30 - Importance of bottom-up stock picking36:09 - Understanding fund managers’ processes38:00 - Team dynamics in fund management41:03 - Curiosity in fund manager meetings42:25 - Advice for asset managers presenting to fund selectors44:50 - Fee structures and their impact48:27 - Founders fees and long-term incentives53:08 - Simon’s recommended book55:30 - Importance of systems thinking57:30 - Final question for the next guest