Behind the Screens: Determining the winners
"I always say, it's the risk you do not see, that you cannot measure, that matters. It's not the one that everyone debates to the nth degree everyday because that usually means it's priced in."
For this week's episode we were joined by Aziz Hamzaogullari, Fund Manager of the A-Rated Loomis Sayles U.S. Equity Leaders Fund. Speaking with Jock Glover, Aziz shares the three components which he thinks prepares them well for different markets - quality, growth, and valuation. He goes on to discuss how these levers play out in the companies they have held over the 17-years of the strategy, and why it's not about what you own, but how you own it that really makes the difference to returns.
Don't have time to listen to the full episode, jump to your favourite part:
1:20 - What does the current market environment mean for you as an active manager?
04:55 - What is the average holding period for the portfolio?
10:45 - As a manager of a large cap in a tough rising inflationary environment, what opportunities do you see moving forward?
14:20 - How do you and the team split your day?
15:55 - In portfolio construction, do you run any themes in the portfolio?
20:20 - What keeps you up at night?
This was recorded on Friday 6th October 2023. This podcast is only aimed at professional advisers and regulated firms and should not be passed on to or relied upon by any other persons. It is not intended for retail investors, who should obtain professional or specialist advice before taking, or refraining from, any action on the basis of the podcast, remembering past performance is not an indication of future performance. It is published by, and remains the copyright of, Square Mile Investment Consulting and Research Ltd. Square Mile makes no warranties or representations regarding the accuracy or completeness of the information contained herein. This podcast represents the views and forecasts of SM at the date of issue and may be subject to change without reference or notification to you. Nothing in this podcast shall be deemed to constitute a regulated activity or an invitation or inducement to engage in investment activity and it is not a recommendation to buy or sell any funds or investments that are mentioned during this podcast.