Asset Allocator
Every week the Asset Allocator Podcast discusses the big issues in UK fund selection, the major investment trends of the moment, and exclusive data on how wealth managers are positioning their portfolios. They'll be joined by guests from across the profession to unpick some of these trends. Asset Allocator is a news and analysis service tailored to the needs of UK wealth managers, fund selectors and discretionary fund managers.
Episodes
Is Passive Investing still passive?
Why do professional investors increasingly avoid the phrase "passive investing"?Dan Caps, portfolio manager at Evelyn Partners, argues that modern index investing is anything but passive. From factor exposures and asset allocation to tactical implementation and disciplined rebalancing, today's portfolios are far more nuanced than many investors realise.In this episode of Asset Allocator, we explor
Two shocks, one boom, and an investment multiverse
AI boom or bubble? Emerging markets comeback? And what do geopolitical shocks mean for investors in 2026? In this episode of the Asset Allocator podcast, FT Adviser editor Simoney Kyriakou sits down with Joe Little, Chief Strategist at HSBC Asset Management, to unpack the forces reshaping global markets.From geopolitical tensions and commodity volatility to China's manufacturing resurgence and the
Lessons of history not always useful in active vs passive debate
Is passive investing making markets more concentrated? Will today's AI winners still exist in a decade? And why might cash be one of the most misunderstood assets in investing?In this episode of Asset Allocator, Nathan Sweeney, chief investment officer for multi-asset at Marlborough, joins Amina Zafar and David Thorpe to discuss how investing is changing in an era of artificial intelligence, socia
Currency hedging the key to protecting clients income
Financial advisers must hedge against currency risk if they want to truly protect their client’s income, explains Jason Da Silva, the director of global investment strategy at Arbuthnot Latham.Discussing the relevance of the dollar’s weakness for UK advisers and their clients, Da Silva highlighted the importance of currency management in both equity and fixed income portfolios.Also on this episode
Emerging and developed market government bonds have "swapped places"
Bond and equity markets are sending very different signals. While stocks continue to rally on optimism around earnings and AI-driven growth, bond investors are grappling with inflation risks, geopolitical tensions and mounting government debt.In this episode of the Asset Allocator Podcast, Aamina Zafar and David Thorpe are joined by Henry Cobbe, head of research at Elston Consulting, to discuss wh
Is 3% the new 2% when it comes to the UK’s inflation target?
On this week's Asset Allocator, Simoney Kyriakou is joined by Joe Little, chief strategist at HSBC Asset Management, to discuss the diverging opinion between economists and investors over the repercussions of the Iran conflict and what the closure and blockade of the Strait of Hormuz means for the global economy. Are investors simply ignoring the mood music?Alongside the Middle East conflict, Litt
Achieving diversification in an age of uncertainty
There is still a free lunch in diversification, but investors just need to look a bit harder for it and reframe what that means, says David Aujila, multi-asset fund manager at Invesco. Aujla discusses what true diversification looks like with funds reporter Aamina Zafar and contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealt
Why income portfolios remain relevant in 2026
James Mee, co‑head of multi‑asset and director at W1M, joins funds reporter Aamina Zafar and contributing editor David Thorpe to discuss the latest developments in markets, and why income portfolios remain key to his firm's offering. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted
Why active fund management still has a role to play in portfolios
Cranley Macfarlane, head of bespoke private clients and deputy chief investment officer at Church House Investment Management, discusses how client needs are shifting, the use of in-house funds, and whether active management still has a meaningful role to play as passive investing continues to gain momentum, with funds correspondent Aamina Zafar and contributing editor David Thorpe. The Asset Allo
Diversification is not a free lunch for investors
Industry veteran Dan Kemp, founder of Portfolio Thinking, discusses the challenges of diversification on the latest edition of the Asset Allocator podcast.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.
Inflation protection a major priority for Pictet’s multi-asset boss
Focused fixed income portfolios and European nominal bonds are important building blocks of Pictet’s investment strategy to beat inflation, says Shaniel Ramjee, co-head of multi-asset investments at Pictet Asset Management, who dives into the parts of the fixed income and equity markets he regards as attractive right now with Aamina Zafar, funds reporter, and David Thorpe, contributing editor at A
Quilter WealthSelect boss: What 20 years in the MPS market has taught me
Stuart Clark, who jointly runs the WealthSelect range of model portfolios at Quilter, discusses markets and the lessons he has learned along the way with funds reporter Aamina Zafar and contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See a
RBC Brewin Dolphin: We have moved away from the 60/40 portfolio
David Hood, head of investment solutions at RBC Brewin Dolphin, discusses the traditional asset allocation approach and how his firm tries to do it differently, with contributing editor David Thorpe, and funds correspondent Aamina Zafar. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hos
Why Isio have no government bonds in their MPS
At a time when most investors are chasing the next shiny thing, Isio portfolio manager Daniel Nielsen is dusting off an old classic and bringing asset-backed securities back into the conversation, with Asset Allocator's contributing editor David Thorpe, and editor of FT Adviser Simoney Kyriakou. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are p
Why there are no safe havens left
David Coombs, head of multi-asset at Rathbones, discusses the ongoing market turbulence and the search for safe havens with Asset Allocator contributing editor David Thorpe and FT Adviser chief reporter Tara O'Connor. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See ac
How Fidelity think about risk in their new MPS
Caroline Shaw, who jointly runs the new model portfolio range at Fidelity, discusses how she hopes to stand out in a crowded market, and how she thinks about risk management at a time of elevated volatility in markets, with FT Adviser editor Simoney Kyriakou and Asset Allocator contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth
Govt bonds ‘still the best safe haven and store of capital’
James Klempster, Liontrust's deputy head of multi-asset, discusses portfolio construction at a time of severe market strife with FT Adviser's Tara O'Connor and Asset Allocator's contributing editor David Thorpe. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.co
What 7IM means by rules-based investing
Shanti Kelemen, co-CIO of 7IM, discusses how her firm uses rules-based investing when creating portfolios and how those rules evolve in different market conditions.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.
Volatility means active management now increasingly attractive in US
Alex Harvey, senior portfolio manager at Momentum Global Investment Management, discusses the changing nature of allocations to US equities, his views on gold and alternative assets, and more, in the latest edition of the Asset Allocator podcast.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newslet
Why One Four Nine Group has cut its equity exposure by 5%
Bevan Blair, chief investment officer at One Four Nine Group discusses his recent decision to reduce the equity exposure across all client portfolios, why gold is not an investible asset class, and what he is looking for in an equity fund manager.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsle
Is active management making a comeback?
Andrew Spence, founder of Aspen Advisers, discusses the perils of concentration risk in equity portfolios and the options for achieving diversification, with chief reporter Joseph Wilkins and contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast.
How Canaccord Wealth are allocating to profit from dollar weakness
Richard Champion, co-chief investment officer at Canaccord Wealth, joins Asset Allocator contributing editor David Thorpe and chief reporter Joseph Wilkins to discuss the firm's exposure to assets that can protect in a world of currency debasement and dollar weakness.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios.
Assets to own to protect against a Trump-induced market shock
Peter McLean, head of multi-asset portfolio solutions at Stonehage Fleming, discusses the options for investors looking for diversification in an era of frequent market shocks, with Asset Allocator chief reporter Joseph Wilkins and contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sig
How to diversify US equity exposure in the age of Trump
The latest guest on the Asset Allocator podcast is Ben Yaearsley of Fairview Consulting, who joined Contributing editor David Thorpe and chief reporter Joseph Wilkins to discuss diversification within the US market, the outook for fixed income, and his views on the merits of alternative assets.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are pos
The biggest question impacting portfolios in 2026
Supply shocks from the adoption of AI and as a result of increasingly isolationist trade policies mean markets could be at risk from heightened inflation and volatility, and create uncertainty around the correlations between bonds and equities.That is the view of Sophie Huynh, portfolio manager and strategist at BNP Paribas Asset Management; our first guest of the new year on the Asset Allocator p
Resilience needed to attract clients to sustainable funds
EQ Investors' head of impact investing Damien Lardoux discusses the evolution of the sustainable investment market with Asset Allocator.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more information.
Ability to pass on tariff costs becoming limited for US companies
US businesses have to date been able to protect their margins and pass on any costs as a result of tariffs, but data indicates this could be coming to an end, according to Peter Dalgliesh, chief investment officer at Parmenion. Speaking with Asset Allocator, Dalgliesh discusses his outlook for markets and inflation amid opaque data sources; his outlook for global equities and fixed income in the y
Why JM Finn expects muted bond market response to Budget
On the latest edition of the Asset Allocator podcast, Jon Cunliffe of JM Finn discusses the implications of the forthcoming UK Budget and how he sees wider markets, with Asset Allocator chief reporter Joseph Wilkins and contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the
US market is diversification target for EBI
Jonathan Griffiths, head of investment at EBI, joins the Asset Allocator podcast to discuss his firm's new fund-of-fund range, how he thinks about the role of gold in portfolios, diversification, and where he can find value in markets right now.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newslett
UK equity funds Evelyn Partners are sticking with
Despite Evelyn Partners generally reducing exposure to UK equities, fund manager James Burns said he retains his “highest conviction” positions and revealed which funds escaped the cut.Speaking with Asset Allocator chief reporter Joseph Wilkins and contributing editor David Thorpe, Burns explained the evolution of his UK equity allocation, and also discussed his exposure to emerging markets, the U
Diversification in an age of uncertainty
The level and nature of risk in markets means diversification must happen within asset classes, not just between them, according to Richard Philbin, an asset allocator at Hawksmoor.Speaking with Asset Allocator podcast hosts Joseph Wilkins and David Thorpe, Philbin says one of the ways he is responding to present market conditions is moving down the market cap scale.Find out more, listen to the fu
Why Tatton are underweight US equities and overweight Japan
Olivia Geldenhuys, head of investment specialists at Tatton, discusses the firm's equity exposure in the latest episode of the Asset Allocator podcast, hosted by chief reporter Jospeh Wilkins, with contributing editor David Thorpe.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on
Why reducing Japanese equity exposure now is sensible portfolio management
Premier Miton's Chris Robinson joined Asset Allocator chief reporter Joseph Wilkins and contributing editor David Thorpe to discuss equity markets, and revealed that he has recently taken profits on a number of markets. Robinson discussed his outlook on Japan and the US in particular. The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning
Resurgence of strategic bond funds "not surprising"
On the latest edition of the Asset Allocator podcast, chief reporter Joseph Wilkins and contributing editor David Thorpe are joined by David Aujla, multi-asset investor at Invesco, to discuss the latest market trends.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See aca
How the Schroders multi-asset team is reacting to dollar weakness
This week Tara Fitzpatrick, multi-asset portfolio manager at Schroders, joins funds correspondent Joseph Wilkins and contributing editor David Thorpe to discuss how her team have reacted to the relative weakness of the dollar in 2025.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted
Why earnings growth justifies US tech stock outperformance
Gene Salerno, chief investment officer for UBP UK, joins Asset Allocator's Joseph Wilkins and David Thorpe to discuss global markets, and in particular why US equities may deserve another look.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their portfolios. Sign up to the newsletter. Hosted on Acast. See acast.com/privacy for more
Which is the last cheap equity market in the world?
The latest episode of the Asset Allocator podcast features hosts Jospeh Wilkins and David Thorpe discussing where value might be found in equity markets with Chelsea Financial Services managing director Darius McDermott, who reveals the market he thinks is the only cheap one left.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth managers are positioning their
Inside Quilter's passive alternatives strategy
Quilter portfolio manager Sacha Chorley sat down with Asset Allocator contributing editor David Thorpe to discuss the firm's relative unqiue way of gaining alternatives exposure, the role of derivatives in asset allocation and where they are finding opportunities during the present volatile market conditions.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth m
Why boutique fund managers represent a compelling opportunity
Rob Burdett, an industry veteran who is currently head of multi-manager investments UK at Nedgroup, joins Asset Allocator contributing editor David Thorpe to discuss why he prefers investing into mandates run by boutique fund houses, rather than with industry giants.He also discusses the changing nature of wealth management and the focus on pre-set rules, such as the requirements many investors ha
Why this allocator is 30% underweight to the US
Downing’s Simon Evan-Cook tells the latest edition of the Asset Allocator podcast that he has just 30 per cent of the capital he manages in US funds, and reveals the reasons why. That is less than half the weighting of the US market in the global benchmark, and he admits it leaves many "aghast".He also reveals the role cash and bonds play in his portfolios at a time of heightened market stres
What is the best way to buy an index fund?
Rob Starkey, multi-asset investor at PortfolioMetrix, joins the latest edition of the Asset Allocator podcast to give his take on the different elements to consider when choosing index funds, ranging from cost to tracking error. He also revealed what he looks for when choosing actively managed funds, and the sell discipline he deploys when a fund is not meeting expectations.The Asset Allocator Pod
Is active management reaching a turning point?
The market turbulence of this year could mean actively managed funds come back into fashion, says David Aujla, multi-asset portfolio manager at Invesco, on the latest edition of the Asset Allocator podcast. Aujla says that for many years an investor who simply owned a US equity tracker fund would have achieved good returns, but in his view the dominance of the magnificent seven group of stock
Why 7IM sold out of healthcare
This week Ben Kumar, head of equity strategy at 7IM, joins David Thorpe and Joseph Wilkins to explain why 7IM sold out their healthcare exposure and which themes they are backing now. They also discuss how he’s approaching dollar weakness and what UK banking stocks can tell us about crypto as an investment.The Asset Allocator Podcast discusses the big issues in UK fund selection and how wealth man
Can anything stop the S&P 500 from going up?
Despite what may seem like Donald Trump’s best attempts, the S&P 500 continues to rise ever upwards.This week Dave Baxter and Joseph Wilkins talk to Ernst Knacke, head of investment research at Shard Capital, about whether it’s continued rise is justified or whether the markets are missing something.The Asset Allocator Podcast is a weekly series aimed at discretionary fund managers, fund selec
Can a portfolio ride out every bump?
This week saw the launch of Shard Capital's 'permanent portfolios' which shun the traditional 60:40 model to create a proposition to protect against major drawdowns that could result from macroeconomic and geopolitical turmoil.Dave Baxter and Joseph Wilkins discuss these portfolios and whether it is possible to create a single solution which rides out every bump.They also discuss whether increased
Is American exceptionalism over?
Ever since Donald Trump announced he was "reforming" the US approach to trade, the question of whether the American equities and government bonds will continue to hold their pre-eminent position has been hotly debated.This week Joseph Wilkins, David Thorpe and Damian Fantato discuss the extent to which allocators are moving away from the US.They also discuss the state of the wealth management sect
What role does factor investing play?
A lot of focus recently has been on the pros and cons of equal-weight exposure but other factors are available, such as minimum volatility, momentum and value.This week David Thorpe and Joseph Wilkins are joined by William Marshall, chief investment officer of Hymans Robertson Investment Services, to discuss why he is keen on factor investing and how he uses it.They also discuss the recent volatil
How is the economic cycle affecting portfolios?
Typically, fiscal and monetary policy is counter cyclical but in recent years this appears to have changed, most prominently in the US fiscal policy. This is complicating monetary policy and the task of running portfolios.This week David Thorpe and Joseph Wilkins are joined by Peter Dalgliesh, chief investment officer at Parmenion, to discuss how this is affecting his portfolios and how it is affe
Should UK gilts do the twist?
In 2011 the Federal Reserve stopped issuing 30-year bonds to "twist" the maturity profile and reduce the nominal value of US debt.This week we're joined by Henry Cobbe, the founder and head of research at Elston Consulting, who has recently written a white paper calling for a British version of what became known as "operation twist".David Thorpe and Joseph Wilkins discuss how he thinks retail inve
What's the case for increasing exposure to the US?
At times it might seem like Donald Trump's campaign slogan was actually "make markets volatile again". If so, he seems to have succeeded.This week David Thorpe and Joseph Wilkins are joined by Nathan Sweeney, chief investment officer of multi-asset solutions at Marlborough.They discuss navigating Donald Trump's role in the markets, why he's been adding to the US and Japan and the search for protec
The struggles of measuring MPS performance
Comparing the performance of model portfolio solutions can sometimes be a challenge, given the difference risk levels and approaches across the market.This week David Thorpe and Joseph Wilkins discuss the trials and tribulations of achieving this, given Arc's recent decision to launch a performance index.They also discuss SDR labelling regulations and the FCA's decision to pause these for portfoli
Do risk variable portfolios work?
There are many ways to skin a cat, and even more ways to run a model portfolio service.This week Ash Weston, head of MPS at 8AM Global, joined David Thorpe and Joseph Wilkins to offer his take on some of the issues facing MPS providers.They discuss the pros and cons of investment committees, risk-variable portfolios and the tight margins in the multi-manager space.The Asset Allocator Podcast is a
Can you diversify away from tariff volatility?
Markets have been in a tetchy state ever since Donald Trump announced he was launching a trade war with the entire planet (or maybe not as it later turned out).This week David Thorpe and Joseph Wilkins are joined by Julien Dauchez, head of portfolio consulting at Natixis, to discuss whether it's possible to diversify away from the noise during a particularly volatile period.They also discuss why m
Market turmoil reveals the perils of owning US tracker funds
Donald Trump's policy decisions continue to reverberate through markets as he decides whether or not to fire Fed chair Jerome Powell.This week David Thorpe and Joseph Wilkins are joined by Eleanor Ingilby, head of high net worth clients at Atomos, to discuss her thoughts on the US market, managing volatility and why she recently upped her exposure to the UK equity market. They also discu
How Donald Trump liberated the markets from going up
Earlier this month US president Donald Trump announced a series of 'reciprocal' tariffs on most countries in the world. This had the effect of tanking markets across the globe.This week Dave Baxter, Joseph Wilkins and David Thorpe have a chat about the fall out of 'liberation day' and which funds rode out the turmoil better than others.They also discuss whether consumer confidence is the real dang
What’s the role for high yield bonds?
Tacit Investment Management has one of the highest exposures to high-yield bonds of all the portfolio managers we cover.This week we are joined by Kypros Charalambous, investment director at Tacit, to find out they pivoted to high-yield bonds since 2022 and the role it plays in their portfolios.He also explains why Tacit prefers a smaller number of holdings and a more concentrated portfolio, and h
Can gold's growth be sustained?
The rising price of gold has been one of the stories of early 2025 so far and Stuart Clark, who runs Quilter's Wealthselect portfolios, is one of the allocators with a long-standing allocation to precious metals.This week he joins David Thorpe and Joseph Wilkins to discuss this thinking on this holding and whether gold's continued strong performance can continue.They also discuss the likelih
Has Europe's time come?
The year has started brightly for the European market, with the Euro Stoxx 50 up more than 10 per cent since the start of 2025. But is that a sign Europe has turned a corner?This week Ian Rees, head of multi-manager at Premier Miton, joins David Thorpe and Joseph Wilkins to discuss whether this is the case or not.They also discuss the challenges of US exceptionalism and the UK listed funds space.T
Is now the time to worry about the US economy?
US president Donald Trump has said there might be "a little disturbance" as he imposes tariffs he claims are necessary. But fears of a recession in the US are growing.This week Joseph Wilkins and David Thorpe are joined by Philip Chandler, chief investment officer of multi-asset at Schroders, to discuss whether investors should start worrying.They also discuss the pivot from the US to European equ
What to make of the US stock slide
Since the start of 2025, the S&P 500 is down nearly 5 per cent due in part to Donald Trump's 'will he, won't he' approach to tariffs. This week tariffs were on again (before they weren't) so the US bluechip index fell by more than 3 per cent.This comes after a period of several years when it seemed like the world revolved around US equities and the strong returns they provided.In this week's e
Mitigating 2024's rise in fund manager moves
Last year saw a spike in the number of fund manager departures, which were at their highest level since Covid.This week David Thorpe, Joseph Wilkins and Dave Baxter have a chat about why that might be and how portfolio managers mitigate this.They also discuss the latest Spot the Dog list of underperforming funds and Fidelity's success at moving into the passive space, with some of its tracker fund
Are we at an inflection point for political risk?
For better or worse, Donald Trump's first few weeks in the White House have involved a flurry of activity - which the markets have always appreciating some of the new US president's decisions.This week David Thorpe and Dave Baxter make up for Joseph Wilkins' decision to go on holiday by chatting with Gene Salerno, chief investment officer at Kleinwort Hambros, about how he is handling political ri
Are equal-weight indices all they’re cracked up to be?
If volatility has made a comeback, are equal-weight indices the solution to this problem? Or do they present different issues?This week David Thorpe, Dave Baxter and Joseph Wilkins have a chat about the pros and cons of these trackers.They also discuss the case for European equities and whether their time has finally come. And finally they explore DFMs’ preference for gilts over Treasuries.The Ass
Is volatility back for good?
With Donald Trump in the White House and China pursuing its AI ambitions, it seems like 2025 is going to be a volatile year.This week David Thorpe and Joseph Wilkins have a chat with Eren Osman, head of investment management at Arbuthnot Latham, to discuss how he is managing portfolios through this volatility.They also discuss whether the antics of the new Trump administration are changing the cal
Benchmarking for success
Selecting a benchmark can be a thorny issue for portfolio managers since it is what their performance is judged against.This week David Thorpe and Joseph Wilkins are joined by Shanti Kelemen, chief investment officer at M&G Wealth, to discuss this issue.They discuss the process she uses, the common pitfalls and what the main challenges are in comparing one range of portfolios against another.T
What to make of this week's AI rout?
This week's stock market rout following the emergence of China's DeepSeek has up-ended expectations that stocks like Nvidia would continue powering upwards uninterrupted.This week David Thorpe and Joseph Wilkins are joined by Paul Flood, head of mixed-asset investing at Newton, to discuss the turbulent past few days.They also discuss the challenges of investing for income and his thoughts on Saba'
Why Gam has such a large exposure to US equities
Gam allocates about a third of its portfolio to US equities which, even in a market where exposure to Wall Street is rising, is a punchy position.This week we are joined by Julian Howard, chief multi-asset investment strategist at Gam, to discuss why the company has taken such a position.He also chats with Joseph Wilkins and David Thorpe about volatility following the return of Donald Trump as US
Why is RSMR's Stewart Smith such a big fan of Japan?
Through the recent peaks and troughs, average exposure to Japanese equities in our database has been relatively unmoved at about 3.5 per cent.But Stewart Smith, head of MPS at RSMR, has the highest exposure in our database at more than 8 per cent.In this week's episode Joseph Wilkins and David Thorpe have a chat with him about why he's so keen on Japanese equities and why he's recently been cuttin
Which US equity funds outperformed in 2024?
The Asset Allocator Podcast is back for 2025 and this week David Thorpe, Joseph Wilkins and Dave Baxter kick off the new year by discussing the active US equity funds which managed to outperform the market in 2024 and they weigh up the investment case for China versus India.They also discuss how DFMs can compete in an increasingly crowded market.The Asset Allocator Podcast is a weekly series aimed
What does the future have in store for MPS?
In the final edition of the Asset Allocator Podcast of 2024, Joseph Wilkins is joined by Darren Ripton, head of investment at Abrdn, and Ben Hammond, managing director of consulting at the Lang Cat, to reflect on the past decade of model portfolio services and to ponder what the future might have in store.They discuss how the sector has changed, the pros and cons of MPS versus multi-asset, how the
What's the outlook for 2025?
As we approach the end of the year, David Thorpe gathers a group of experts to look forward into 2025 in this bumper edition of the podcast which is supported by Artemis.He is joined by Natasha Ebtehadj, manager of the Artemis Global Select fund, Liam O'Donnell from Artemis's fixed income team, Fahad Hassan, the chief investment officer at Albemarle Street Partners, and Richard Carter, head of fix
Is the US fiscal deficit about to balloon - and does it even matter?
The result of the recent US presidential election has given many of us plenty to ponder.This week Dave Baxter, Joseph Wilkins and David Thorpe get together to discuss what the incoming Trump administration might mean for the heft US fiscal deficit and whether that matters from an investment perspective.They also discuss the role of US equities in income portfolios and where to get tech exposure ou
Budget changes to Aim markets was 'not woeful'
Unusually for the folk at City Asset Management, the team made a change to the Aim portfolios ahead of the first Budget by chancellor Rachel Reeves. In this podcast, supported by Artemis, Joseph Wilkins, chief reporter for Asset Allocator and James Calder, chief investment officer for City Asset Management, talk about changes made to the portfolios and what the expectations are for Aim portfolios.
Is there still value in US equities?
The S&P 500 has risen by 30 per cent over the past 12 months, with no event seemingly able to put a stop to this growth.On this week's podcast David Thorpe asks Cormac Weldon, manager of Artemis US Select, and Ben Yearsley of Fairview Investing, whether there's still value to be had in US equities.They also discuss the illusive US recession as well as the outlook following Donald Trump's re-el
What could a Trump presidency mean for portfolios?
This week Joseph Wilkins and Dave Baxter are joined by Stuart Clark, who runs the Quilter Wealthselect portfolios.They discuss what a Trump presidency might mean and what parallels can be drawn between gold's surge over the course of this year and the performance of cryptocurrencies.Clark also explains how he is allocating to fixed income in a world of falling rates and budget deficit concerns.The
What's the outlook for UK equities?
The outlook for the UK economy is a topic that has consumed endless column inches – particularly in the wake of last week's Budget.On this week's podcast, which is sponsored by Artemis, we are joined by Ed Legget, manager of the Artemis UK Select fund, and Chris Fleming, deputy chief investment officer at Square Mile, to consider the outlook. They discuss the ripple effects of Labour's first Budge
How Premier Miton's new MPS head runs his portfolios
Chris Robinson joined Premier Miton over the summer to run the company's new MPS.This week he catches up with David Thorpe and Joseph Wilkins to discuss this approach to picking funds, what he looks for and why he's so pleased with one of his Japanese equity picks.They also discuss China versus India, why he is underweight Europe and the outlook for the UK.The Asset Allocator Podcast is a weekly s
What to make of the China stimulus
The Chinese government's sudden U-turn on fiscal stimulus has got a lot of heads scratching recently - including among those who debate the future prospects of the country's economy.This week David Thorpe and Joseph Wilkins are joined by Nathan Sweeney, multi-asset chief investment officer at Marlborough, to discuss whether the stimulus will change his calculus on whether or not to allocate to Chi
Will cost disclosure rule changes spur interest in investment trusts?
News that the regulator will be changing cost disclosure rules has been welcomed as a lifeline by the investment trust sector.But will it be the silver bullet some claim? This week David Thorpe, Joseph Wilkins and Damian Fantato discuss whether it will boost investment trust ownership among portfolio managers.They also discuss the potential problem of "monocrop" portfolios and they wade into the M
How will China's stimulus affect the rest of the world?
This week David Thorpe and Joseph Wilkins are joined by Chris Metcalfe, chief investment officer at Iboss, to discuss the impact of China's economic stimulus on Europe and other regions.They also discuss whether property is still investable in light of Dynamic Planner's decision to remove it from its risk models. And they discuss how to manage concentration risk concerns from clients.The Asset All
