Investors' Chronicle

We begin by discussing Diageo, a global leader in premium beverages, who released a profit warning last week. Sales are expected to fall in the new financial year with issues in Latin America and the Caribbean. The market reacted badly, understandably, with analysts also alarmed. But can strength in the US market buoy these negative prospects? We follow on with the results of two commercial Reits:...

In this episode of The IC Interviews, personal finance writer Val Cipriani sits down with James de Uphaugh and Imran Sattar of Edinburgh Investment Trust, managed by Liontrust. Boasting 50 years of investment experience between them, James and Imran have worked together in various firms since the 1990s, including BlackRock and Majedie.   In this conversation, they explore how the portfolio wi...

Companies editor Mark Robinson gives us the rundown on Associated British Foods’ (ABF) latest results, which shareholders warmly received. What tactics has management deployed to reach the latest share price high and where can we expect to see the company head in the future?  We’re then on to Apple (US:AAPL) , this week’s cover story by Arthur Sants, our new US-based reporter. The tech giant’...

Alex Newman hosts this week's episode which begins with a discussion about HSBC’s recently published trading update. From that huge share buyback to what we can understand about China’s economy and real estate market, Julian Hofmann takes listeners through all they need to know about the bank’s update. Next up is this week’s cover feature on megaprojects by deputy news editor Mike Fahy. Mike and A...

Dave Baxter welcomes back popular UK equity manager Nick Train to The IC Interviews. Best known for co-founding Lindsell Train Ltd and running its UK Equity, Global Equity funds and the Finsbury Growth and Income Trust, Nick is a household name when it comes to picking UK stocks. In this episode, Nick shares his thoughts on the state of the UK equity market, British luxury designer Burberry, the e...

This week’s episode begins with a discussion on insurer Lloyd’s of London, which is starting to attract investor attention again. Julian Hoffman, author of the story, and Mark ponder over the hopes for the market and use a near-40-year-old scandal as a guiding point of scepticism. Jemma Slingo joins the conversation to discuss two companies covered in the second part of our Aim 100 feature , trans...

In this episode, Alex and John begin with a dive into John’s largest, and most successful, holding, Treatt Plc . He delves into his history with the flavour and fragrance company and explains the appeal that led him to up his holding is for so long. This leads tidily onto a conversation on the art, and challenge, of selling, the downfalls he’s experienced and what he’s learned from his time as a D...

This week’s episode, like this week’s cover feature special, highlights the first part of our annual dive into the top 100 Aim companies. Having had a nightmarish 2022, companies traded on the alternative market don’t seem to have had an easier time in 2023 as the index underperformed the FTSE All-Share and the FTSE Small Cap Index.  Our journalists have analysed the top 100 Aim companies and...

Julian Hofmann kicks off today's conversation with a discussion of Britain’s beloved pub chain JD Wetherspoon (JDW) . Results showed that food sales are now a bigger driver, so does that show a change of strategy for the business? And is there still value there? It’s then on to our cover story this week, a topic that many listeners will be thinking about; how to ensure they’re saving enough for re...

With more than 30 years experience under her belt, Rosemary Banyard is no fledgling in the investment world. She developed her reputation as one of the leading UK female fund managers while at Schroders in the 1990s and has gone on to become lead manager on award-winning small and mid cap funds. She has worked at firms including Sanford DeLand, launching its Free Spirit Fund in 2016, and in 2020 s...

On today’s episode, we start with a look at the latest full-year results from underappreciated ventilation equipment group Volution, which has been under the cosh somewhat this summer. Michael Fahy, who covered the company's results for the Investors' Chronicle this week, talks about the growth drivers for the business. Is the price reaction confirmation that the shares' summer slump was unju...

ChatGPT has brought artificial intelligence (AI) firmly into investors’ sights in 2023. But, where are we today in terms of AI and its applications, and where are we going in the future? Cherry Reynard and Allianz Technology Trust portfolio manager Mike Seidenberg look at the implications and whether the initial euphoria from an investment perspective is warranted. There is no doubt that increasin...

Mark Robinson kicks off today’s podcast with a discussion about used-car retailer Pendragon’s (PDG) results. The company’s rating has shifted in the past year since AutoNation Inc’s (US:AN) £447mn takeover proposal, but the industry is still facing headwinds after the pandemic. In a similar motoring vein, Julian Hofmann shares his thoughts on the EV market , which is set to heat up as Germany and...

Alex Newman is joined by Lord John Lee in the Financial Times studio, marking the first episode of a new series from the Investors’ Chronicle – Lee and the IC . With decades of experience as a ‘do-it-yourself’ investor, Lord Lee offers invaluable wisdom to investors of all experience levels. In this episode, the pair discuss the moment Lord Lee knew M&G (MNG) would be a worthwhile holding, the...

As Investment Manager at Smithson Investment Trust , a growth-focused fund run by the team behind Fundsmith Equity, Simon Barnard is a key player in companies that have “already won”. Dave Baxter and Barnard discuss various strategies that the trust has used since its inception , including bottom-up techniques and a three-step process of acquisition.  Acquisitions of strongly performing compa...

The episode begins with Jemma Slingo, who runs through the recent results from listed management consultant Elixirr. What can the interim figures tell us about future growth? It’s then on to Arthur Sants, who discusses Vodafone, a company that features in our most recent cover story on Income Majors. What could the merger with Three bring to the company? And what can we expect the new chief execut...

Our company experts Michael Fahy and Julian Hofmann begin by sharing their thoughts on recent results from Melrose and Dowlais. What effect has the RTX engine recall had on Melrose? And should Dowlais be concerned about the possibility of strikes in the US? Next up is our latest cover feature on the cost of capital, by James Norrington. He gives an overview of the feature and discusses the two sch...

This week’s episode begins with a discussion of housebuilder Barratt Developments’ results. What makes Barratt different from other housebuilders? And what can it tell us about the housing market as a whole?  Next on the roster is a dive into UK economics. The ONS has released the latest GDP figures, but what can they tell us about the country’s position amongst other G7 nations? And what upc...

In this episode of IC Interviews, Dave Baxter hosts Craig Baker. As the global chief investment officer of Willis Towers Watson, the firm that chairs the investment committee of Alliance Trust, Craig is closely involved in the company’s investment philosophy and process. The pair discuss the importance of spotting style drift in funds, the development of the trust in recent years, the benefit of t...

This week’s episode begins with a discussion on insurance company Prudential’s results. Is its new growth plan too ambitious? And what are the headwinds it faces given the current issues in China? Next up, it’s on to Germany, a country going through its second period of stagnation in two decades. Is Germany now the sick man of Europe (again)? And if so, is it simply at the mercy of growing economi...

This week’s episode covers a lot of ground, from smartphone chip designer Arm, to China’s current economic state, to resurgent retailer M&S. We begin with Arthur Sants on chip maker Arm's mooted $60bn valuation. Is this realistic, given where its rivals are trading?  Next up is Ali Al Enazi on his latest piece about China’s fall into deflation. What does this mean for UK companies and inv...

In the latest IC Interviews, Dan Jones welcomes Katie Potts, lead fund manager for tech- and small cap-focused Herald Investment Trust.  In this episode, Potts talks about how she values technology stocks, her take on the topic of the moment, AI, and her view on distinctly British attitudes to the state of the stock market. The pair go on to discuss the challenges the UK market has faced in r...

This episode of The Companies and Markets Show begins with a dive into this week’s results from big players in the insurance industry, Aviva and Legal & General. Our deputy companies editor, Julian Hofmann, explains the market reaction to the businesses’ figures and highlights areas where they may be limited. Alex Newman joins to discuss what stands out for him and offers his take on the state...

On today’s episode, we start with a look at the latest interim figures from auto parts maker TI Fluid Systems.  Next up is this week's cover story: How to be an income investor in a world of higher yields. Dave Baxter talks about what higher bond yields will mean for portfolios.  Lastly, Val Cipriani talks about the dos and dont's of managing a small portfolio – striking the right b...

On this week's episode, HSBC is first up on the docket. Julian Hofmann and Mark Robinson are on hand to make sense of their results.  Next up is a discussion of who will benefit most from the artificial intelligence (AI) boom. James Norrington is the writer of our long read on that topic this week and joins us in the studio to discuss areas of the AI market that may not be getting as much att...