Investment Uncut

In this Quick Take episode, Letty talks to LCP partners Steve Hodder and David Wrigley, to discuss how schemes in surplus can rethink their strategy, shifting from deficit management to deciding how best to use surplus. It will consider where trustee and sponsor priorities may differ, what this means for practical investment decisions, and how schemes can remain flexible if circumstances change or...

In this episode of Investment Uncut, Letty and Jacob are joined by Stephan Connelly (Managing Director) and Jason McGourty (Vice President) from Star Mountain Capital, to weigh smaller-business lending opportunities and return premiums against credit risk. Drawing on Star Mountain’s experience, they discuss how closer borrower relationships support credit assessment and downside protection, lesson...

What do we actually know so far about Burnhamnomics? In this Quick Take episode, Jacob, Letty and LCP Partner Anais Caldwell Jones, part of our Macro team, explore what Burnham is going to centre on in the upcoming budget. With some big ideas to tackle inequality and support growth, tight public finances would, however, favour targeted budget measures over sweeping reform. Any market reaction woul...

In this episode of Investment Uncut, Jacob and Aaron are joined by Alex Edmans. Alex discusses his recent book 'The Madness of Markets' where he explores the madness that can emerge in financial markets, from striking examples of investor behaviour to the potential for mispricing in today’s fast-moving, large language model race, between higher-cost US providers and Chinese competitors. We discuss...

Why are government bond yields rising, and what does this mean for investors? In this episode of The Quick Take , Jacob, Letty and Matt Gibson (LCP's Head of Research) explore why inflation is only part of the story, unpack the term 'premium' and discuss how changing demand from UK pension schemes could be affecting gilt yields. They also consider the legacy of the 2022 mini-budget, whether yields...

We kick off Season 8 of Investment Uncut by speaking to Timandra Harkness - writer, presenter and comedian - and the author of Risk & Responsibility. We discuss Timandra’s recent blog, Dare to Be Free, and explore why risk has become such a defining issue for society, institutions and the pensions industry.  Together, we explore the growing tension between protecting people from harm and giving th...

Healthcare is one of the UK's largest and fastest-evolving sectors, driven by an ageing population, technological innovation and growing demand for care. But beyond the headlines, where are the most compelling investment opportunities, and why has healthcare become such an attractive area for private equity? In this episode, Letty and Aaron are joined by Sam Gray, Portfolio Manager at Apposite Cap...

In this episode of The Quick Take, Aaron and Jacob sit down with LCP's Investment Partner Amlan Roy to unpack the surprising insights from his latest research on the 48 nations competing in the expanded FIFA World Cup. From demographics and education to migration, gender equality, and governance, they explore the hidden forces shaping economic growth — and where the world's next investment opportu...

India has been one of the world's fastest-growing major economies over the past two decades, but its representation in Emerging Market Indexes has significantly reduced as valuations have been lower and South East Asian countries have seen their markets surge due to their AI Technology Stocks. As global supply chains shift, demographics evolve and economic reforms continue to reshape the country,...

In this episode of The Quick Take, Aaron, Letty and Jacob discuss the launch of the Space X’s IPO. It just shattered records with the largest IPO in history, and the Investment Uncut podcast is breaking down what it means for your portfolio. In just 20 minutes, Aaron and Letty debate whether SpaceX's astronomical valuation is a generational opportunity or a dangerous Fear of Missing Out trap. They...

Most football clubs lose money, yet American investors continue to pour capital into the game. What are they seeing that others are missing? And can data and analytics help turn football clubs from passion projects into viable investment opportunities? In this episode, we’re joined by LCP’s football analytics experts Bart Huby and Jacques Foex to explore how football is becoming increasingly data-...

In this episode of The Quick Take, Aaron and Letty discuss new research into the gender and ethnicity pension gap and what women from ethnic minority backgrounds told researchers about retirement saving, financial confidence and pensions. The findings highlight clear barriers around trust, understanding and accessibility, but also point to reasons for optimism, particularly among younger generatio...

The blue economy is rapidly emerging as a major long-term investment theme, spanning everything from offshore energy and shipping to marine infrastructure, aquaculture and coastal resilience. But beyond the sustainability narrative, what are the genuine opportunities for institutional investors? In this episode, Letty and Jacob are joined by Matt Lawton, Head of Impact Fixed Income at T. Rowe Pric...

Financial decisions are often presented as simple exercises in logic. Save more, plan earlier, make better choices. But in reality, our relationship with money is shaped just as much by emotion and what’s happening in our lives rather than spreadsheets and forecasts. In this episode of The Quick Take, Aaron and Letty are joined by Heidi Allan to explore why emotions, confidence and personal experi...

Like it or not, AI has the potential to significantly disrupt existing businesses. That’s great if you’re invested in the companies benefiting from that shift. But what if your portfolio is exposed to businesses that could be disrupted by it instead? What’s more, what if you had a portfolio that had a large exposure to that sector?! In this episode of The Quick Take, Jacob and Letty are joined by...

Private credit has come under increasing scrutiny in recent months, with headlines pointing to liquidity pressures, fraud cases, and questions around underwriting standards. High-profile situations such as the collapses of First Brands and Tricolor have unsettled markets and raised concerns around systemic risk. In this episode of the Quick Take, Jacob and Letty are joined by Max Pears, private cr...

Markets have remained resilient despite rising geopolitical tensions but are investors underestimating the risk of stagflation, or even a more prolonged period of “slugflation”? As the Iran conflict evolves, its impact on inflation and growth could create a more challenging backdrop than markets currently reflect. In this episode of Investment Uncut, we explore with Paul Gibney, LCP investment par...

Energy markets have taken centre stage in driving financial markets and the Iran conflict has been a key catalyst. From oil supply shocks to unexpected market reactions, investors are being forced to rethink how geopolitical risk feeds through into portfolios. In this episode of Investment Uncut, we speak to our energy expert Sam Hollister and investment partner, John Clements, to unpack what’s be...

Government says the UK is open for investment - pushing “productive finance”, launching reforms, and pointing to growing interest from overseas pension giants. But does the reality match the rhetoric? In this episode, we speak to Danny Latham, Partner and Head of Australia & New Zealand at Igneo Infrastructure Partners, to cut through the noise and ask the uncomfortable question: is the UK genuine...

The Eurozone bond market is often treated like a single pool of “Eurobonds”, but in reality, it is a vast and highly fragmented market where politics, fiscal credibility and energy exposure can move spreads just as much as interest rates. Not only that, it has the European Central Bank as a backstop for EU government debt and overarching monetary policy rules for each jurisdiction. So, how do you...

Every technological revolution produces both concentrated fortunes and quiet casualties. The critical question is not whether AI will reshape the economy, but who will capture the economic surplus it creates. Is this a modern gold rush, where the enduring winners are the suppliers of scarce inputs? Or is it a railway moment, where early capital providers overspend, competition intensifies, and ret...

industry look for new ways to deliver more sustainable and predictable retirement outcomes. In this episode of the Quick Take, Aaron and Letty are joined by Laun Middleton, Partner at LCP, to explore how CDC works in practice and what lessons can be learned from the Netherlands. We discuss how the UK has taken on board the lessons learned from CDC pensions internationally, in particular how UK CDC...

“If you look at the structure of the UK market, only around 10% of the venture fund capital comes from pension funds (compared with 70% in the US). Increasing pension fund participation creates a win-win-win: makes more capital available for companies; supports the creation of bigger vehicles for the venture community, and gives pension funds an opportunity to deploy long term capital that can be...

“In general, very few geopolitical shocks particularly, conflicts or regime changes, have a meaningful impact on markets over the long term. There are short term issues but from our perspective we think about the bigger picture. We make sure that we are taking a consistent level of risk which generate returns.” Ryan Boothroyd. In this episode, we explore how to see through the noise of today’s mar...

“When we’ve got situation where around £50bn a year is spent through [pension] tax reliefs ... Given that’s coming from general taxation, I think it’s entirely legitimate that actions are taken that are in line with the general direction of government. And most governments thankfully do want to address the climate and nature crisis.” Caroline Lucas In this episode, we explore how to navigate the e...