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A look at developments from the technology sector and what they mean for investors. The Allianz Technology Trust investment team will offer their insight, as they discuss cutting edge companies and how they are changing our lives.
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A Value View is a series of topical podcasts from The Merchants Trust, focusing on developments affecting the UK market environment and how the trust navigates them. So what does this mean for investors? – join portfolio manager Simon Gergel as he offers his thoughts
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Our investment team covers the world. But, they also need to be connected to share their insights. Furthermore, it’s no longer enough to simply be a human investor – being digitally enhanced through machine learning and AI to be able to interpret massive amounts of data is a must. Our new podcast offers analysis and insights to help investors remain informed and connected.
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In this 30th episode of the A Value View podcast, Jon and Simon discuss dividends once again. With Merchants having reached its 42nd consecutive year of paying an increased dividend, just how has the trust managed this? And, what does the state of play look like for the future, not only for income, but for the UK equity market in general? Takeovers…
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Semiconductors are everywhere – not only in things where we would definitely expect them, but increasingly in everyday items as well as those products become more technologically advanced. That proliferation has spawned some very profitable companies – Cherry Reynard and Mike Seidenberg discuss the different types of companies in the ecosystem and …
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A multi-decade re-engineering of the entire global economy” – Julian Bishop, co-lead portfolio manager of Brunner debates the realities of the energy transition with host Joe Lynam. He argues that the production of nearly everything in the world relies on fossil fuels to some degree, something that will inevitably take time to change. The duo also …
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The ‘Magnificent 7’ have been much heralded as the drivers of stockmarket performance over the past year or so, but are they all performing strongly, and what might be some other ways of accessing technology sub-sector growth? Joe and Julian also discuss a couple of more traditional companies added to the portfolio earlier this year.…
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The Internet-of-Things can often conjure up images of smart home devices and either utopian or dystopian views of a fully connected life. However, there are many other use cases, for example in industrial applications, where the technology has wide ranging implications for efficiency and improvement. Mike Seidenberg and Cherry Reynard delve deeper …
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In this episode, Merchant’s portfolio manager, Simon Gergel is challenged around his ‘glass half full’ view of the UK market. Simon takes the challenge in hand explaining the factors behind his thinking and why, despite short term pain, the opportunity set for investors in the UK market remains pretty much unprecedented. We look at how Simon and hi…
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The technology sector that has emerged from the pandemic is different to the one that went before. And we are still seeing some of the ramifications. In this latest podcast we discuss how the sector has changed over the past two years, and how that is reflected in the portfolio. Which pandemic trends have endured, how has the higher interest rate e…
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In this latest episode we look deeper into some of the things that portfolio companies actually do. In particular, host Joe Lynam and co-lead portfolio manager Julian Bishop examine some of the extreme technology needed to create the world’s most powerful semiconductor chips. The term ‘cutting-edge’ may often be overused, but in this case the sheer…
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There have been many reasons over recent years for investors to be ‘out of love’ with the UK; Brexit, political uncertainty, pandemic, Ukraine, Trussonomics and the perception of worse inflation & economic performance for the UK to name a handful. But, has the depressed sentiment been overdone? In this podcast the team discuss that with many of the…
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As the trust gears up for the release of its latest interim results, many investors will have an eye on the upcoming dividend. As an AIC Dividend Hero, the trust is well known for maintaining a steady dividend payment throughout the many ups and downs in market conditions over the past several decades. Host Jon Cronin and Portfolio Manager Simon Ge…
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What just happened? – A look back at the year so far.
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In this latest podcast, we ask “what just happened” in the first half of 2023 and what did we learn as investors? Whilst there were quite benign returns in sterling terms, underneath the surface there was plenty of drama with a reversal of what happened in 2022 – tech roared back strongly from its lows and the 2022 winners like oil and gas resumed …
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ChatGPT has brought artificial intelligence (AI) firmly into investors’ sights in 2023. But, where are we today in terms of AI and its applications, and where are we going in the future? Cherry and Mike look at the implications and whether the initial euphoria from an investment perspective is warranted. There is no doubt that increasing use of dat…
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Cyber-crime-fighters – capes not required!
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Picking up where the previous podcast episode left off, portfolio manager Mike Seidenberg and host Jon Cronin dive a little deeper on the topic of cybersecurity. Which companies are championing the fight-back, what should investors be thinking about in that sector, and how does cyber security stack up alongside other areas within tech?…
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In this latest podcast, portfolio manager Mike Seidenberg and stand-in host Jon Cronin focus in on the topic of cybersecurity. The team look at what the implications are to us all in our daily lives, but also how this impacts businesses, corporations, and governments. With huge criminal enterprises emerging and nation states weaponising cyber-attac…
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In this latest podcast the team look at the factors to consider when investing around the theme of decarbonisation and how companies with strong decarbonisation credentials, able to drive the energy transition, are considered within the investment universe. What elements shape the pathway to net zero and what will be required to get there? With tha…
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The housing market has long been seen as a key bellwether of the overall state of UK market. But the recent squeeze on the cost of living – namely, rising prices which have in turn driven interest rates higher – has been keenly felt in that sector. In the latest podcast episode, Jon and Simon debate the fortunes of the UK’s housebuilders as well as…
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In this latest podcast Joe and Christian discuss the factors that led to us seeing almost double-digit inflation last year. Are those drivers now retreating and, if so, are they falling quick enough? The pair also focus in on the undeniable fact that across the globe people are living longer and, hopefully, healthier and wealthier lives. They discu…
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In this latest podcast, portfolio manager Mike Seidenberg and host Cherry Reynard focus in on a single issue: geopolitics and how it’s affecting the technology sector. The geopolitical landscape has seen many issues over the past year, with war in Europe and a significant deterioration in US/China relations destabilising global trade. With technolo…
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In the latest episode of ‘A Value View’, host Jon Cronin gets Simon Gergel’s thoughts on the current outlook for the UK’s FTSE 100. On the one-hand, the FTSE hit an all-time high in February, on the back of bumper profits for several of its constituent stocks. But, on the other hand, there are questions around the future growth prospects of the Lon…
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Are we in an environment where investors can now see the proverbial light at the end of the tunnel? Some inflation pressures are abating and although rates are still going up, the fear that rates are going to go up faster, and to higher levels than expected, is probably over. This is already starting to be reflected in the stock market. However, th…
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Host Joe Lynam sits down with portfolio manager Christian Schneider for the first time in 2023 and asks if the turbulence seen in 2022 could be repeated. Inflation appears to be retreating to some extent due to diminishing increases in base factors such as the price of oil, however Christian and the team also see that inflation may be more persiste…
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At the sunset of 2022, Mike Seidenberg joined Cherry Reynard for the final time of the year to discuss how unprecedented macroeconomic factors (at least in recent memory) and nervous markets are combining to make managing a technology portfolio something like trying to find one’s sea legs on a ship being tossed about in rough seas. It wasn’t an eas…
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Host Joe Lynam asks – are we entering a ‘tech winter’ given the vicious sell-off this year? Portfolio manager Christian Schneider gives the background to what we’ve seen afflict the highest growth stocks over the past year (a large number of which reside in the tech sector) and what the outlook may be for the sector, but in particular how different…
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Inflation is rampant and central banks are reacting strongly with associated rate rises. At the same time some governments are looking at policies reflecting a very present need to try to buffer current hardships for people. Given Brunner’s focus on growth stocks that have been hit particularly hard by this high inflation and rising interest rate b…
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2022 has undoubtedly been a difficult year so far for the technology sector and for technology investors in turn. Portfolio manager Mike Seidenberg joins host Cherry Reynard to discuss how the current negative market sentiment and economic backdrop is balanced against the ongoing demand drivers for tech firms as we look to the future. With the roll…
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There are a number of serious challenges facing the UK economy – rising energy costs, the cost of living crisis, rising interest rates and mortgage costs and supply chain issues to name a few. However, while they may not be showing signs of abating, a number of factors are becoming ‘less bad’ or at least not getting worse. Also, the UK stockmarket …
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Against the force of rising inflation and interest rates, there has been indiscriminate pressure on tech stock valuations. Those valuations now look much more reasonable, and all eyes are on corporate earnings with a dispersion of results emerging. As economic growth continues to slow and central banks flex more muscle, investors in the technology …
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The US economy is the driver of much of the world’s growth. Is it on the ropes as inflation soars and interest rates are hiked, as is being suggested by many commentators? Or are investors selectively ignoring some more favourable signals? Plus, what is the wider global context, particularly diving below the macro-economic factors to the fortunes o…
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On the occasion of the Queen’s Platinum Jubilee, Simon and Jon reflect not only on that incredible achievement, but also on the highs and lows faced by The Merchants Trust over its 133 year history. Almost six months into a tumultuous 2022, it also falls due to look more currently and have a mid-point reflection and ponder what may be coming up for…
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Energy – where it comes from, what we pay for it, how secure the supply is and the impact on the environment, are factors in sharp focus for consumers and investors alike. In their latest podcast recorded at the end of April, Matthew Tillett and Joe Lynam discuss these factors in a global context, pondering how this might play out for investors in …
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The Russian invasion of Ukraine and subsequent concerns over fossil fuel supplies from Russia have combined in a perfect storm with already rising energy prices and wider cost of living inflation to push energy security and affordability into the spotlight as part of the ongoing energy transition debate. Portfolio manager Simon Gergel and host Jon …
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Just one quarter into 2022 the world has already seen significant economic and geopolitical events. How might this impact the technology sector, both in the short- but also the longer-term? In this latest podcast, the team ponder the balance of short-term headwinds with continuing long-term growth themes. Produced remotely by the Lansons Content Te…
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In their first catch up of 2022, Joe and Matthew look at the issues that markets have faced in the early part of 2022 and how some of those factors may play out over the coming months. Recorded and Produced by Lansons.By AllianzGI Investment Trusts
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The UK market has been more resilient than global peers so far in 2022 and whilst highly valued growth stocks across the globe feel the impact of rising inflation and interest rates, many value stocks that were previously languishing have seen a welcome boost. International investors appear to be looking more closely at owning UK stocks, but how co…
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As 2021 fades in the memory, the spectre of inflation is firmly on investors’ minds and Simon Gergel gives his view on what that may mean for markets in 2022. After a year where finding genuinely under-priced good businesses – rather than those that are cheap for a reason – paid dividends, Simon explains how extreme pricing anomalies still appear p…
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Recorded in December, Joe Lynam and Matthew Tillett sum up 2021 from the perspective of global markets and look ahead for 2022. They look at some of the extremes of the markets and the economy. The size and dominance of some of the world-leading tech companies, the sheer amount of money entering the funds market supporting market growth and what mi…
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With a new year upon us, Walter Price and Mike Seidenberg joined host Cherry Reynard late in December to look at some of the defining moments for the tech sector in 2021 and to reflect on the future of the sector. Produced remotely by the Lansons Content Team.By AllianzGI Investment Trusts
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The Social Dilemma – Withstanding Regulation
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New regulation and increased taxation for technology companies are inevitable over the coming years, particularly as the biggest companies gain increasing power – Walter Price and Mike Seidenberg discuss the potential impact on the sector. Although the social media giants help us to communicate effectively and businesses to advertise efficiently, t…
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Supply issues have been in the spotlight of late. Where companies had got used to ‘just-in-time’ supply chains, they have now seen just how easily these can be disrupted. Whilst such factors mean we’re not out of the woods yet in terms of economic recovery, and wary of inflationary pressures building up, Simon Gergel describes how he’s trying to lo…
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For their latest discussion, Matthew and Joe ponder the issue of tightening regulatory factors in China – what will that mean for China itself, the fortunes of companies and markets there and ultimately for the global economy and markets? Also front-of-mind at the moment is energy, primarily because of short-term issues in the UK, but also generall…
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The world is entering a new phase. Most people agree there will be some kind of ‘new normal’ post-pandemic where remote working will mix with on-site working where possible. In this latest podcast episode, the team discuss how this will benefit businesses that can make this new hybrid workplace both effective and efficient. Furthermore, new generat…
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Five years have passed since the Brexit referendum and many different factors have made that a particularly extraordinary and challenging period for the UK market. However, the trick has been to look through the various market uncertainties and using that lens, many mispriced opportunities have presented themselves. Right now, the UK market still l…
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In the latest episode, Matthew and Joe discuss; the health of the global economy and the spectre of inflation, a deeper dive into Environmental, Social and Governance (ESG) factors, and a look at the UK now Brexit is bedding down and the vaccination programme is advancing. Recorded and Produced remotely by the Lansons Production team.…
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With continuing signs of economic recovery, Walter Price and Mike Seidenberg talk to Cherry Reynard about the cyclical and ‘value’ parts of the technology sector likely to benefit. Tailwinds still remain though for high growth companies that did so well in 2020 and the team describe how they will play their part in a new dynamic as people emerge fr…
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In the latest episode, a three-part discussion covers; recent developments in volatile markets, how a different approach from policy makers around the world is providing ongoing monetary and fiscal stimulus plus a focus on the healthcare industry, and a look at the Trusts recent results and the current dividend/income situation. Produced and record…
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As economic recovery feels the opposing forces of new Covid variants and vaccination programmes, Walter Price talks to Cherry Reynard about how he sees the technology sector is placed for the future, both in the shorter- and longer-term. The latest earnings season, US-China relations, key themes in the portfolio and trends likely to dominate the ne…
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The latest reporting season has highlighted the difference between resilient businesses and those hit very hard by the effects of the pandemic. Returning dividends across many sectors are an encouraging sign for income seekers and the vaccine rollout is giving hope that recovery is looming, though the lessons of the recent past should prompt cautio…
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In this episode, Simon Gergel discusses the potential for a renewed focus on individual companies and their prospects in 2021. While bigger picture themes such as Brexit, the US election, and the impacts of the pandemic dominated markets last year, the associated uncertainties are starting to fall away. Produced and recorded remotely by Lansons…
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The US election and a potential vaccine were dominating headlines as Matthew Tillett and Marcus Morris-Eyton sat down to record this podcast with co-host Joe Lynam. The team discusses these huge talking points before taking on a more perennial debate – growth vs value. As the team highlight, for them, it’s not about ‘versus’ at all. Produced and re…
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Recorded in a fairly momentous week news wise, with a new US President Elect and news of a potential COVID 19 vaccine, Walter Price and Mike Seidenberg chat to Cherry Reynard about how tech could be affected and cast an eye forward to 2021 and beyond. Produced, recorded and edited by Lansons - Lansons.com…
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