2016 speed-dating event
On 10th August 2016, Chelsea co-hosted its inaugural fund manager speed-dating event. However, it wasn't romance on offer – it was a story! We got a number of trade and national journalists together with eight of our favourite fund managers, and gave them five minutes to get an investment scoop.
After the five minutes were up, which of the fund managers left them wanting more? And with whom did they want to have long-term and short-term investments?
The fund managers in question were:
Chris Bowie, manager of TwentyFour Corporate Bond
Rob Burdett, co-manager of F&C MM Navigator Distribution
Steve Davies, manager of Jupiter UK Growth
Alice Gaskell, co-manager of BlackRock Continental European Income
Gary Greenberg, manager of Hermes Global Emerging Markets
Alex Ross, manager of Premier Pan-European Property Securities
James Thomson, manager of Rathbone Global Opportunities
Hugh Yarrow, co-manager of Evenlode Income
1. With which of our fund managers would you most like to start a long-term investment with?
1st place: Rob Burdett, co-manager of F&C MM Navigator Distribution
Runner up: Hugh Yarrow, co-manager of Evenlode Income
Rob has been managing multi-asset funds with co-manager Gary Potter for twenty years now – longer than many marriages - so when it comes to long-term investment relationships, there are few people challenging for this spot. Key to the pair's success has been their grasp of the benefits of diversification and the power of compound interest.
Hugh is co-manager of Evenlode Income, which has been ideally positioned post-Brexit vote in the UK's most global companies. On this international theme, we found out that, if he wasn't a fund manager, Hugh would like to be a foreign diplomat and travel is a real passion. He's climbed Mont Blanc and Kilimanjaro, and has taught maths and science to an all-girls school in Fiji.
2. With which of our fund managers would you most like to start a short-term investment with?
1st place: Steve Davies, manager of Jupiter UK Growth
Runner up: Alice Gaskell, co-manager of BlackRock Continental European Income
If Steve wasn't a fund manager, he'd like to be a sports analyst – although apparently his children would prefer him to be a farmer. He says his worst investment was Vestas Wind Turbines – he invested too early, which isn't unusual for contrarian, value investors. His best investment has been Howden Joinery.
Like Hugh, Alice has climbed Mount Kilimanjaro, although her investments over the years prove that fund management isn't the most glamorous of jobs. Whilst her worst stock pick is BES, a wine and spirit company that went bust, her best is Geberit, of which she says: “They make the best toilets in the world. We invested when everyone else was investing in the internet and toilets weren't sexy.”
3. After the five minutes were up, which of the fund managers left you wanting more?
1st place: Gary Greenberg, manager of Hermes Emerging Markets
Runner up: James Thomson, manager of Rathbone Global Opportunities
Gary provided the journalists with a real scoop: his first job was serving ice cream! His favourite flavour is salted caramel and liquorice is his least favourite. When asked what he could offer that other fund managers don't, his answer was: “Stewardship. We take care of investors and engage with companies to make them better corporate citizens, environmental stewards and efficient users of capital.”
James's first job was a leaflet distributor in his home country of Bermuda. Coming from an island, it's perhaps not surprising that if he weren't a fund manager he'd like to be a fisherman. However, his worst investment was in a shipping company that sent a press release stating that they had “unquantifiable financial losses”! His best investment has much firmer foundations: Rightmove.
4. Which of our fund managers do you most want to interview again?
1st place: Chris Bowie, manager of TwentyFour Corporate Bond
Runner up: Alex Ross, manager of Premier Pan European Property Securities
Funnily enough, Chris's first job was an ice cream salesman, like Gary. He earned £1 a day in his friend's dad's pub. His favourite ice cream is mint choc chip and his least favourite is tutti fruitti. His worst investment was in Repsol, a Spanish oil company that lost 10% when the oil price dipped. His best investment is Nationwide, which he bought in February this year, with a yield of 12%.
Alex, in a similar vein to Steve, would like to be a cricket commentator if he wasn't a fund manager. His says his best achievement in life, outside of work and family, was to reach first-team-level sport, despite having a glass eye.