FundCalibre - Investing on the go

After a difficult period for infrastructure assets, 2025 has marked a more supportive environment. Will Argent, manager of the TM Gravis UK Infrastructure Income fund , examines what’s driving the recovery, from interest rate cuts and M&A activity to government infrastructure plans and regulatory developments. We discuss the role of renewables, utilities, digital and social infrastructure, and...

Small-caps have historically outperformed over the long term, but recent years have been dominated by large-cap momentum and narrow market leadership. Nish Patel, manager of the Global Smaller Companies Trust , discusses why the backdrop may now be shifting. We cover how smaller companies can deliver faster earnings growth, the importance of focusing on quality to reduce fragility and why valuatio...

This special episode dives into the market reaction to the latest UK Budget with Carl Stick and Alan Dobbie, co-managers of Rathbone Income fund. They discuss initial relief, fiscal headroom, and the weeks of uncertainty that froze corporate decision-making. We explore whether the UK remains a compelling market, how overseas investors are responding and why large-cap and mid-cap valuations still l...

Emerging markets have rebounded strongly despite global uncertainty. John Citron, co-manager of JPMorgan Emerging Markets Trust , shares what’s behind that strength: from currency cycles and interest rate shifts to transformative themes like AI, semiconductors, and infrastructure. John shares insights into how disciplined, quality-focused investing and low portfolio turnover can unlock compounding...

With the appointment of Japan’s first female prime minister and inflation returning after decades of deflation, the country is entering a new era. Baillie Gifford’s Thomas Patchett joins us to discuss how corporate reform, automation, and AI are creating exciting long-term opportunities in Japan’s market. From tightening labour conditions and surging share buybacks, to the rise of companies like S...

We sit down with Stephen Snowden, manager of the Artemis Corporate Bond fund , to unpack the state of the bond market. He explores key concepts such as credit spreads, duration, and the relationship between corporate and government bonds, while examining how inflation and fiscal pressures are shaping yields today. The conversation also touches on how shorter bond maturities and improving corporate...

Discover the dynamic world of technology with Allianz Technology Trust’s lead manager, Mike Seidenberg. From navigating mega-cap dominance and tariff concerns to uncovering opportunities in AI and cybersecurity, he shares how his team balances risk, valuation, and long-term conviction. Listeners gain insights into the global nature of the tech sector, the evolving impact of artificial intelligence...

The UK stock market is often dismissed as stagnant, but as Simon Murphy, manager of the VT Tyndall Unconstrained UK Income fund explains, that perception doesn’t tell the full story. In conversation with Darius McDermott, Simon discusses the surprising strength of the FTSE, the undervalued potential of mid and small-cap companies, and why he believes the UK economy is far more resilient than many...

Vince Childers, manager of the Cohen & Steers Diversified Real Assets fund , joins us to discuss all things real assets and examines their strategic importance in modern portfolios. He explains the four key categories — global real estate, infrastructure, commodities, and resource equities — and how they respond to inflation shocks and market surprises. We discuss a range of topics from valuat...

Markets in 2025 have been anything but predictable, with geopolitical shifts, tariffs, and surprising regional performances keeping investors alert. In this quarterly market update, Darius and Juliet unpack the latest global investment trends and surprises from Q3. They discuss the shifting performance between regions, with Europe and Latin America outpacing the US, while China’s rally sparks deba...

In this episode, we explore how European companies are responding to global headwinds, from tariffs and political unrest to slowing demand. Despite headlines often painting a bleak picture, many niche businesses are thriving by tapping into structural growth drivers. David Walton, manager of the IFSL Marlborough European Special Situations fund , discusses the resilience of smaller and micro-cap c...

This episode unpacks how overlooked companies and unloved markets can offer attractive returns, why technical analysis and timing matter, and the risks of following the crowd into overcrowded trades. Sean Peche, manager of the Ranmore Global Equity fund , tells us how market cycles, crises, and hype—from the Magnificent 7 to artificial intelligence—can present both risks and opportunities for pati...

Sue Norfolk, manager of the Schroder Income Growth Trust , shares how UK companies are adapting their capital distribution strategies with a shift towards share buybacks and stable dividend growth. We also cover the evolving landscape of domestic versus international opportunities, sector-specific insights into financials, consumer discretionary, and industrials, and how geopolitical tensions are...

In this episode, we delve into the strategy behind the Murray International Trust, which has achieved 20 consecutive years of dividend growth. Co-manager Sam Fitzpatrick explains the fund’s evolving geographic allocation, reduced UK exposure, and increasing opportunities in US and emerging markets. We discuss standout performers in technology, challenges in Latin America, and how currency movement...

The past quarter saw markets rattle and rebound in quick succession, sparked by dramatic tariff announcements and unexpected reactions from both equities and bonds. In our next quarterly instalment with Darius McDermott and Juliet Schooling Latter, we explore the causes and implications of this volatility, whether US exceptionalism is losing its shine, and how investors are reacting to shifting gl...

Explore the world of non-life insurance - an often overlooked but essential part of global markets - with Nick Martin, manager of the long-standing Polar Capital Global Insurance fund . This interview covers how the sector provides much-needed defensiveness in volatile times, its low correlation to broader equity markets, and why its fundamentals are improving. From AI and climate risk to the conc...

UK smaller companies have been unloved for years, but the tide might be turning. In this interview with Scott McKenzie, co-manager of the WS Amati UK Listed Smaller Companies fund , we discuss why the asset class has struggled, the early signs of improvement, and what could drive a long-term recovery. We explore volatility, valuations, the impact of government policies like the Mansion House Accor...

With mounting US debt and stretched valuations, investors are starting to look beyond American markets. This episode dives into the appeal of Asian equities, particularly in regions with strong balance sheets, growing consumer bases, and undervalued companies. Edmund Harriss, co-manager of the Guinness Asian Equity Income fund , explores the economic fundamentals underpinning Asia’s growth, from r...

Gold has broken out to new highs, but have investors truly taken notice? Jupiter Gold & Silver manager Ned Naylor-Leyland explores the evolving role of precious metals in modern portfolios, examining why central banks are buying gold while many investors remain on the sidelines. This episode covers the performance gap between physical assets and mining equities, the bullish case for silver, an...

With fixed income markets facing heightened volatility, this episode dives into how strategic bond fund managers are navigating uncertainty through flexibility and precision. Colin Finlayson, co-manager of the Aegon Strategic Bond fund , highlights the importance of managing duration risk, anticipating yield curve movements, and selecting corporate bonds based on bottom-up fundamentals. We also to...

We explore how valuation-driven investment strategies are navigating today’s turbulent global markets. Bertrand Cliquet, co-manager on the Lazard Global Equity Franchise fund, explains why the portfolio has a significant underweight to the US, the impact of geopolitical uncertainty, and how tariffs are reshaping global economic dynamics. The interview covers their disciplined approach to stock sel...

Ajay Tyagi, manager of the UTI India Dynamic Equity fund , takes a deep dive into the changing dynamics of the Indian economy and equity market. He discusses how India’s growing middle class is driving consumption, which sectors offer long-term potential, and how global trade tensions are influencing market positioning. We also cover the outlook for small and mid-cap stocks and what rising per-cap...

Commodities have always been cyclical, but today’s mining sector is facing a unique blend of macroeconomic volatility, geopolitical tension, and structural change. In this episode, we hear from Evy Hambro and Olivia Markham, co-managers of the BlackRock World Mining Trust , as they discuss current disruptions like tariffs and trade rerouting, the surprising disconnect between commodity and equity...

Dividend investing remains a popular strategy, but what makes a great dividend stock? Nick Clay, manager of the TM Redwheel Global Equity Income fund , explains the key characteristics of strong dividend-paying companies, the sectors offering the best opportunities, and the macroeconomic factors influencing global equity income investing. We also discuss the role of dividends in different market c...

In this quarterly market update, Darius McDermott and Juliet Schooling Latter analyse the latest investment trends shaping 2025. From the dominance of tech and US markets to the resurgence of China and the struggles of smaller companies, we cover the key themes impacting global investors. With valuations stretched in some regions and opportunities emerging in others, is it time to diversify? We de...