James Wilson of The Huginn Fund

In the Company of Mavericks

This episode is made possible by Progressive Equity Research, providing freely available engaging research & opportunities to hear from a wide range of small & mid-cap UK-listed companies.

For today’s episode, David Seaman of Alpha Cygni Investment Management joins me for a conversation with James Wilson, fund manager of The Huginn Fund. The Huginn Fund applies the value investing principles of the wider Phoenix Asset Management team to international markets. However, James has his own very distinctive approach to investing.

David and I have attended the Phoenix Annual Investor Meetings together for the last couple of years and have been impressed by James’ presentations of his top picks, last year of French champagne house Laurent Perrier and this year's US onshore gas producer CNX.

James talks about his investment philosophy, why he seeks to invest in leaders rather than managers and the difference leaders can have on their organisations. He gives us insights into what he regards as the hidden value in three companies covering the French luxury goods industry, the US natural gas market, and the UK floor coverings market.

James dives into his holdings in Laurent Perrier, CNX and the UK’s Likewise Group.

James leaves few stones unturned in his approach to getting insight and understanding of the companies he invests in. He gives us a masterclass in value investing, the importance of doing the work, and the insights it can yield.

I learnt a lot from this conversation. I hope you do too.