Fund Manager Chat: Fiona Rowley, UK Commercial Property Fund Manager, M&G Investments

In this wide-ranging  #FundManagerChat, Rajiv Jain, CIO of GQG Partners and Manager of the GQG Partners Global Equity Fund, discusses how he finds the opportunities in global equities markets.

Rajiv explains what drove him to set up his own fund house after forging a successful career at Vontobel and outlines the key influences behind his unique and successful "quality growth" process.

Rajiv also provides a summary of global equities markets and explains how his considerable experience with previous bear markets is helping him navigate the difficulties presented by the current Covid-19 crisis.

Running Order

Rajiv Jain is chatting remotely with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, on May 5, 2020.

About Rajiv Jain

Rajiv is the Chairman and Chief Investment Officer of GQG Partners and also serves as the lead portfolio manager for all GQG Partners strategies.

Rajiv commenced investment operations at GQG Partners in June 2016 with over 25 years of investment experience. Previously, Rajiv served as a Co-Chief Executive Officer (from July 2014) and Chief Investment Officer and Head of Equities (from February 2002) at Vontobel Asset Management. He was the sole portfolio manager of the International Equities strategy (since 2002) and Emerging Markets Equities strategy (since 1997), and the lead portfolio manager for the Global Equities strategy (since 2002).

Rajiv helped build the business from less than US$400 million under management to just under US$50 billion in 2016. He joined Vontobel Asset Management as a co-portfolio manager of Emerging Markets Equities and International Equities in November 1994.

Prior to that, he was an International Equity Analyst at Swiss Bank Corporation.

Rajiv earned an MBA in Finance and International Business from the University of Miami. He also has a master’s degree from the University of Ajmer and an undergraduate degree in accounting with honors.

In this #FundManagerChat podcast, Ben Constable-Maxwell, head of sustainable and impact investing at M&G Investments, shares his views on the increasing prominence that ESG, impact and responsible investing is taking on for investors and fund managers.

Ben examines some of the challenges that fund managers face, particularly in quantifying and measuring criteria, and he outlines the key issues that groups should be prioritizing.

Ben also considers some of the myths around ESG investing, how the Covid-19 crisis is giving prominence to these factors and what success looks like for an ESG-conscious fund manager.

Running Order

Ben Constable-Maxwell is chatting remotely with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, on May 5, 2020.

About Ben Constable-Maxwell

Ben Constable-Maxwell Ben Constable Maxwell joined M&G Investments in 2003 as an investment specialist and is now Head of Sustainable and Impact Investing.

Ben leads on impact for the M&G Positive Impact Fund alongside fund manager John William Olsen. Ben has been central to the development of ESG integration within M&G’s investment processes and has supported the development of ESG solutions for clients across asset classes.

He is a founding member of M&G’s Responsible Investment Advisory Forum, overseeing ESG-related activities at M&G, and is a member of the Investment Association’s Sustainability & Responsible Investment Committee, chairing the working group on non-financial disclosures.

Previous to M&G, Ben spent four years with the Equities team at Invesco Perpetual. He graduated from the University of Newcastle-upon-Tyne with an Honours Degree in Classics.

In this wide-ranging #FundManagerChat podcast, Keith Skeoch, CEO of Standard Life Aberdeen Plc, [SLA.L] discusses the impacts of the unfolding Covid-19 crisis on investments, the economy, companies and society.

Keith considers the human elements of the crisis, and examines how it is driving changes to the way that investment firms and the industry, might operate in the future.

Keith also provides a market and economic overview, reviews the policy responses to the crisis and considers what opportunities might present themselves for investors and fund management companies as the crisis recedes.

Running Order

Keith Skeoch is chatting with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, remotely from Edinburgh on April 29, 2020.  

About Keith Skeoch

Keith Skeoch is Chief Executive of Standard Life Aberdeen plc,

Keith started his career in 1979 at the Government Economic Service. He moved into financial services in 1980 with James Capel (HSBC Securities from 1996), where he was latterly Managing Director of International Equities.

He joined Standard Life Investments in 1999 as Chief Investment Officer, before becoming Chief Executive of that division in 2004. In 2015 he was appointed Chief Executive of Standard Life plc, having been a board member since 2006, and led the merger with Aberdeen Asset Management in 2017. He was named as sole CEO of Standard Life Aberdeen in 2019.

Keith has held a number of key industry appointments. He is currently a board member of the Financial Reporting Council and Deputy Chair of the Investment Association.

In recognition of his wider contribution to the financial services industry – particularly his work in response to the global financial crisis – Keith has been awarded honorary doctorates from the University of Sussex and Teesside University. For his services to the economics profession, he has been named a Fellow of the Society of Business Economists.

Keith is also a Trustee of the Edinburgh International Festival.

In this #FundManagerChat, James Lynch, Manager of the Downing Monthly Income Fund, discusses how he finds the opportunities to source reliable dividend income from smaller companies stocks.

He outlines the process and philosophy he has adopted and examines his recent performance outcomes. He also outlines his current portfolio positioning and discusses some of the difficulties and opportunities that are presented in the unfolding Covid-19 drama.

Running Order

James Lynch is chatting remotely with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, on April 21, 2020.

About James Lynch 

James joined Downing in February 2012 as part of the Private Equity team, gaining transaction experience in the SME space across a range of industries before transferring to Downing Public Equity in 2013.

Prior to Downing, James worked within the asset management division of Ernst & Young after specialising in smaller companies at HW Fisher & Company.

James manages the MI Downing Monthly Income Fund and co-manages the Downing Strategic Micro-Cap Investment Trust.

James is a CFA Charterholder, Chartered Accountant (ACA) and holds the Investment Management Certificate.

In this #FundManagerChat, Matthew Beddall, CEO of UK-based fund boutique, Havelock London, and manager of the LF Havelock Global Select Fund discusses the challenges of managing money during the unfolding Covid-19 crisis.

Matthew outlines whether traditional style-biases and valuation metrics matter in the current volatility. He addresses recent performance and reveals the major considerations he is seeking in his stocks as the crisis continues.

This is the quarterly newsletter referred to in this podcast can be found via this link.

Running Order

Matthew is chatting with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, in London on April 7, 2020.

About Matthew Beddall 

[caption id="attachment_74982" align="alignleft" width="281"] Matthew Beddall, CEO - Havelock London.[/caption]

Matthew is the CEO and co-founder of Havelock London. He worked at Winton for 17 years, eight of which he served as Chief Investment Officer. As CIO, he had responsibility for overseeing all of the firm's investment activities, including for the flagship Winton Futures Fund.

During his tenure, Winton grew to have $32 billion in assets making it one of the largest hedge funds in Europe. He also sat on the Board as a Director, and on the Executive Committee.

Matthew previously graduated with a degree in Mathematics and Computer Science, and went on to earn a Master’s degree in Applied Statistics.

He combines a long-standing personal interest in value investing with extensive professional experience in systematic funds, leaving him with a firm set of views as to how best to manage savings and investments – all of which he has applied to his own money.

On March 26, 2020, BNY Mellon announced that Nick Clay, one of the UK's best known equity income fund managers will be leaving the organisation. He is leaving with a number of his team to join a competitor. Mr. Clay currently runs the £5.2 billion (as at March 26, 2020) BNY Mellon Global Income Fund.

In this podcast, Ilga Haubelt, recently appointed Head of Equity Income at Newton and Jon Bell, co-fund manager of the BNY Mellon Global Income Fund,  outline how they intend to mitigate the potential impact of these departures.

Running Order

Ilga and Jon are chatting with Jake Moeller, remotely on April 1, 2020.

About Ilga Haubelt

Ilga is the investment leader of the Newton Equity Income team. She joined Newton in 2019 to head up the firm’s equity opportunities team, becoming Head of Equity Income in March 2020. She is part of the management team for Newton’s global equity income strategy.

Prior to joining Newton, Ilga was head of Global Equities at Deka Investments, where she oversaw a team of more than 20 portfolio managers with €15bn of assets under management. She was also the lead manager of Deka’s global equity income fund.

Before joining Deka Investments, Ilga was a portfolio manager and research analyst at Union Investment, where she was lead manager of a North American generalist equities fund, a REIT, and a global listed real estate equities fund. Ilga began her asset management career with Munich Ergo Asset Management (MEAG) as a real estate specialist.

About Jon Bell

Jon is a portfolio manager in the BNY Mellon equity income team. Through his 24 years at Newton, Jon has led both the Global Equity and Multi-Asset teams and been responsible for a number of multi-asset and global equity portfolios. As well as his extensive investment roles at the firm, he has also spent time as a member of the commercial team involved in discussing client portfolios and tailoring strategies to client requirements.

Jon sits on Newton’s investment oversight and product and commercial committees and its investment risk oversight groups. He joins the Equity income team from March 2020, where he will focus on Newton’s global equity income strategy.

Jon joined Newton in 1995 and has a degree in natural sciences from Cambridge University.

In this podcast, Shamik Dhar, Chief Economist at BNY Mellon IM outlines the potential broad economic implications of the unfolding Coronavirus crisis.

Within the context of this unfolding "human tragedy", Shamik considers the buy- and sell-side effects of this shock, outlines the efficacy of policy responses and assesses the potential impact the crisis might have on long-established economic theories and relationships.

Running Order

Shamik is chatting with Jake Moeller, remotely on March 16, 2020.

About Shamik Dhar

[caption id="attachment_78811" align="alignleft" width="225"] Shamik Dhar, BNY Mellon IM.[/caption]

Shamik Dhar is the Chief Economist at BNY Mellon IM and acts as the primary spokesperson for BNY Mellon IM on matters relating to global macroeconomics, geopolitics and capital markets.

Shamik most recently served as Chief Economist and Director for Economics for the United Kingdom’s Foreign and Commonwealth Office from 2014. He has 30 years of experience as an economist, advising investors and governments on market activity, trends and economic indicators.

He started in the UK Treasury in the late 1980s, moving on in the 1990s to Oxford Economic Forecasting and the Bank of England. In 2000, he moved to Morley Fund Management, then in 2004 co-founded Fathom Consulting, a leading economics consultancy, before moving back into asset management with Aviva Investors in 2009.

In this #FundManagerChat podcast, Juan Valenzuela, co-manager of the Artemis Target Return Bond Fund, introduces this recent launch from Artemis and outlines the case for fixed income securities.

Juan discusses the philosophy the fund, outlines the positioning of his portfolio and shares his views on the broader economic factors that are currently influencing fixed income markets.

Running Order

Juan Valenzuela is chatting with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, in London on February 12, 2020.

About Juan Valenzuela

Juan has degrees in both Law and Business from Carlos III University in Madrid. He began his career in 2003 at JP Morgan in Edinburgh. He joined SWIP in 2006 to manage several mandates, including its Absolute Return Bond Fund.

Juan went next to Alliance Trust, where from 2012 he helped launch and then co-managed the Dynamic Bond Fund. Before joining Artemis in February 2019, Juan worked from 2015 at Kames Capital, where he co-managed Kames’ Strategic (onshore and global) Bond Funds, LBPAM Kames Absolute Return Bond Fund and Core Plus Fund.

Juan is a CFA charterholder.

In this #FundManagerChat podcast, Maria Municchi, portfolio manager within the Multi-Asset team at M&G, shares her thoughts on the key drivers influencing her portfolio construction as we move into 2020.

Running Order

Maria Municchi is chatting with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, in London on December 17, 2019.

About Maria Municchi

Maria Municchi joined M&G in 2009 and is a member of the Multi Asset team and the Positive Impact team. She is the fund manager of the M&G Sustainable Multi Asset Fund and also deputy fund manager of the M&G Episode Income Fund.

Before joining M&G, Maria worked at Barings and UBS Asset Management. She has an MSc in international management and finance and is a CFA charterholder.

In this #FundManagerChat podcast, Justin Onuekwusi, Fund Manager and Head of Retail Multi-Asset Funds at LGIM and Darren Johnson, Chief Operating Officer – Listed Equites, Impax Asset Management outline the #Talkaboutblack initiative within the asset management industry and discuss where it fits within other diversity and inclusion initiatives.

Running Order

Darren Johnson and Justin Onuekwusi are chatting with Jake Moeller, Head of Lipper UK and Ireland Research at Refinitiv, in London on December 11, 2019.

About Darren Johnson

Darren’s mutual and hedge fund career began in 1999. Darren joined Impax Asset Management in 2007 to launch an Equity Long/Short Fund. Since then Darren has performed senior leadership roles within the firm and is currently Chief Operating Officer – Listed Equites.  In 2019 Darren was appoint Director of Impax Asset Management Irish subsidiary.

Before joining Impax in 2007, Darren was Head of Operations at Talisman Global Asset Management, a family office specialising in investing into Fund of Hedge Funds and Private Equity. Prior to that Darren work in various leadership roles in accounting and global operational at AXA IM, Legal & General, and RAB Capital.

About Justin Onuekwusi

Justin is Head of Retail Multi-Asset Funds at LGIM and a member of the Asset Allocation team which manages over £50 billion for pension schemes and savers throughout the world. He leads on the management of the team's retail and risk-profiled multi-asset funds managing the award-winning Multi-Index Funds.

Justin co-chairs the Legal & General Inclusion Team (LEGIT), which aims to create a culture that supports all of LGIM through networks and events across five key areas: leadership engagement, talent attraction and development, leadership development, marketing and communications and community engagement. Externally, Justin is an adviser to the board of City Hive Ltd, which focuses on driving diversity initiatives throughout the asset management industry.

In addition, he sits on the ethnicity workstream of the industry-wide Diversity Project forming part of the steering committee of the movement #talkaboutblack, which focuses on creating more black senior leaders in the asset management industry and beyond as well as addressing the taboo that surrounds conversations about ethnicity. Justin is a CFA charterholder, featured on the 2019 EMpower Senior Executive Leaders List and is finalist for the 2019 Black British Business Awards (Financial Services)