The Evenlode Podcast

The UK market started strongly in June but then erased most of its gains in the second half of the month. Covid cases are on the rise again in several regions, including Asia, and this has led to the reimposition of restrictions in several countries. Thoughts are also now beginning to turn to the gradual withdrawal of crisis-induced fiscal stimulus programmes, such as furlough schemes, over coming...

At Evenlode we believe that it is vital for companies to adapt and change over time in order to stay relevant to their customers. The consumer goods sector is an important one for the Evenlode Global Income portfolio, currently making up over a quarter of the fund across food, beverage, home and over-the-counter health care. As such, we take a great interest in emerging trends in consumer tastes....

There are lots of theories as to why equity market values might look high. Chief among them are low interest rates pushing investors into equities to seek returns, and governmental stimulus putting cash in the pockets of people willing to have a punt on stocks (especially in the US). We find this sort of question interesting, but as interesting a question as it is, it is not information we use to...

The Ship of Theseus is one of the oldest philosophical thought experiments. Theseus, the great mythical hero of Athens, slayed the minotaur in Crete and returned to Athens where his ship was kept in the harbour as a memorial. Over the years the planks, masts, sails etc. were gradually replaced as they decayed. Eventually, all the pieces had been replaced but the ship still stood there in the harbo...

Thomas Austin is infamous throughout Australia. Not an outlaw in the mould of Ned Kelly, nor a bodyline bowling cricketer under the visiting Douglas Jardine, instead Austin is remembered for one of the greatest ecological disasters to hit the antipodean continent, the introduction of rabbits. In investment, exponential growth is referred to by another name, “compounding”.  With the launch of our n...

The world is by no means out of the coronavirus woods yet, but much of the global economy is now recovering from the worst of the pandemic. Conversations with management teams have therefore turned, increasingly, to post-crisis opportunities and investment plans.   On this note, we think the Evenlode Income portfolio is well placed to benefit from several structural growth themes.   Listen to this...

Over the course of the last year, new variants of the damaging and novel coronavirus have evolved and are now being sequenced and detected. Viruses do change rapidly by their nature, part of the biological mechanism that can make them successful in the battle for survival of the fittest. The human race has of course been rapidly developing its defences in the form of vaccines, which have been succ...

Global stock markets have been a bit mixed during March, though both Evenlode Income and the UK market have posted a positive return.   Reopening optimism continues, somewhat tempered by the announcement of further lockdowns in Europe following a rise in cases, and a less positive trend in economic leading indicators versus expectations. Commodity and energy prices also fell in the second half of...

Corporate results season is here. In this episode we look at the performance of the companies within the Evenlode Global Dividend and Evenlode Global Income Funds. The charts referenced in this episode can be viewed at - https://evenlodeinvestment.com/news/corporate-results-season-no-tea --- Please note, these views represent the opinions of the Evenlode team as of March 2021 and do not constitute...

Global stock markets have resumed their climb higher in February, spurred by optimism that the worst of the Covid crisis may begin to pass over coming months. The pendulum of investor sentiment has swung a long way in the last 12 months. Last March, the presiding sentiment was fear , but in today’s stock market it is fear-of-missing-out . In this episode, we look at the performance of the Evenlode...

As eyes turn to the post-pandemic world, investors’ imaginations have been captured by tech giants across America and Asia, whilst in stark contrast, Europe’s corporate elite in more traditional industries have faced difficult questions over their ability to keep pace. In this episode, we consider the innovation prospects for three leading European companies operating in three different industries...

In this episode Ben Peters, investment manager at Evenlode, and Tom Weller, Evenlode's innovation analyst, have a conversation about the The Testing, Inspection and Certification (TIC) industry. They discus how this industry works, as well as the specific companies within this industry Evenlode invest in. --- Please note, these views represent the opinions of the Evenlode team as of February 2021...

As we all turn the page on the extraordinary year that was 2020, we will as usual use this investment view to review the year just passed and to share some thoughts on the outlook for the coming year and beyond. To view the table mentioned in this episode please click here. --- Please note, these views represent the opinions of the Evenlode team as of January 2021 and do not constitute investment...

Happy new year to all of our co-investors and readers. 2021 surely can’t turn out to be more dramatic than 2020 can it? In this episode we provide an overview of last years performance of the Evenlode Global Income Fund, as well as our thoughts going forward into 2021. To view the charts and tables mentioned in this episode visit https://evenlodeinvestment.com/news/evenlode-global-investment-view-...

This month, as holiday season is approaching, the Evenlode investment team have compiled a selection of books that we have read and found interesting over the second half of 2020.  We're not sure all of these texts are obvious light-reading material for Boxing Day. However, we hope you'll find something of interest. --- Please note, these views represent the opinions of the Evenlode team as of Dec...

During the first three weeks of November, the very positive news on coronavirus vaccines and the clarity provided by the US election led to a huge surge in investor’s animal spirits and a significant rally in global stock markets. Listen to our thoughts on these latest developments. The charts and tables referenced in this episode can be viewed here - https://evenlodeinvestment.com/news/evenlode-i...

The recent market move has been dubbed a ‘great rotation’, partly because so-called ‘value’ stocks have not just lagged in the pandemic, but have lagged equity markets ever since the financial crisis. Anything that acts as a positive catalyst for these out-of-favour companies has come to be referred to as a ‘value rotation’. Is this what we’re seeing now? Please note, these views represent the opi...

Periods of heightened uncertainty, such as we find ourselves in, are always accompanied by a shortening of investor time horizons and a pick-up in volatility. This can feel quite stomach-churning for the long-term saver but are, unfortunately, inevitable. Please note, these views represent the opinions of the Evenlode team as of October 2020 and do not constitute investment advice. For more inform...

The world approaches November 3rd with a mix of trepidation and excitement. The 59th Presidential election of the United States has been fought in an unprecedented time, with the global pandemic providing the temporal backdrop while discussions on race, equality, opportunity, and the threat of impending environmental calamity are all competing for airtime. The political vortex has created vast unc...

Equity markets appear to have got used to the new normal and are shrugging off the looming winter with its likely lockdowns and lack of Christmas parties, instead looking to the bright side. So how has the market managed to remain chipper in the face of a dismal-looking festive season? --- To read this article and view the charts and tables mentioned in the article visit https://evenlodeinvestment...

The recent crisis has thrown much at the companies in the Evenlode Income portfolio and no one knows, as usual, quite what the next few months will bring. Hugh Yarrow, fund manager of the Evenlode Income Fund, gives an overview of how companies are changing and adapting to this new environment. Please note, these views represent the opinions of Hugh Yarrow as at 23rd September 2020 and do not cons...