An hour with Andy Brough – a piworld webinar

This video can be seen at: https://www.piworld.co.uk/2020/07/17/an-hour-with-andy-brough-a-piworld-webinar/

 

A very entertaining and informative hour with Andy Brough, Head of the UK & European Small & Mid Cap team at Schroders. Andy gives us his tips and insights on how to make money from equities, illustrated with many colourful anecdotes. A great watch for any equity investor.

Andy’s career & the funds - 00:50
What performance are you targeting? - 03:18
How do you manage money? - 07:09
Placings – Weatherspoon (JDW); Dart (DTG); Ted Baker (TED) - 12:52
Will institutional appetite for placings endure? - 14:12
How do you advise the retail investor to cope with volatility? - 15:20
Xaar (XAR) – 16:25
Has the story changed on any companies you hold with CV19 - 17:30
Where do you start with the annual report and accounts? - 19:00
Are we seeing more company failures? - 21:40
How valuable are broker notes to you? – 22:55
Does the macro picture play a part in your fund management? – 24:30
Has CV19 had any effect on your management of the funds? - 26:00
Tremor International (TRMR) - 27:54
What tricks to the trade can you hand on to us retail investors? - 28:31
What are your criteria for selling? - 30:30
What would you like to see happen to level the playing field for the retail investor? - 31:29
How do you see the future of fund management? – 32:37
Liquidity in small caps? – 33:31

Q&A

Sentiment and valuation disconnect with US market? - 35:49
Sectors to avoid? - 36:50 Do you use technical analysis? - 37:22
Games Workshop (GAW) - 37:45
What’s your primary quality metric when looking for companies? - 39:45
How is ESG affecting your investment selections? - 40:15
Which companies or sectors are you most positive about now? - 41:23
How much cash is held by the fund? - 42:05
Would you expect volatility to rise in August? - 42:50
Is lack of alternative choices for money driving the market? - 43:44
Dividends? - 44:53
What’s the short-term outlook on JD Wetherspoons (JDW)? - 45:50
Management incentives? - 46:34
Superdry (SDRY); Ted Baker (TED); Restaurant Group (RTN) - 47:44
How do you distinguish between good and bad management? – 49:08
Games Workshop (GAW) share sale - 49:50
Xaar (XAR) - 50:49
Spurs: buy, sell or hold?! – 52:44
Where to find Andy Brough & and the funds - 53:50

About Andy Brough:

• Head of the UK & European Small and Mid Cap team
• Manager of the Schroder Mid 250 Fund and the Schroder UK Smaller Companies Fund
• Co-Manager of the Schroder UK Mid Cap Fund plc and Co-manager of the Schroder Institutional UK Smaller Companies Fund
• Co-manager of Schroder ISF European Smaller Companies
• Investment career commenced on joining Schroders in 1987
• Chartered Accountant • BSc in Economics, Manchester University