137. Obsessing about growth stocks and reappraising inequalities in society

Nick Clay, manager of TM RWC Global Equity Income fund, tells us about his new fund, the old favourites he’s invested in, and explains how he achieves a yield 25% greater than that of the market. He discusses reappraising the inequalities in society, interest rates, inflation and the market’s obsession with growth stocks. Finally, he tells us how the income opportunities in the US have grown and where he’s finding opportunities in the technology sector.
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While the TM RWC Global Equity Income fund itself may be new, the team – led by Nick Clay – is highly experienced, and the investment strategy is well-proven. It has a true contrarian nature backed up by a logical and disciplined philosophy. This leads to an attractively yielding income fund (every holding must yield at least 25% more than the broader market at the point of purchase) that also allows for capital return from a concentrated portfolio.

Read more about TM RWC Global Equity Income

What’s covered in this podcast:

  • The type of company the manager likes to invest in [0:16]
  • Why ‘buying the controversy and selling the consensus’ doesn’t make the fund risky [1:43]
  • Which old favourites the new fund invests in [3:41]
  • Whether it’s been easy to find income opportunities in the pandemic [4:41]
  • How the fund achieves a yield 25% greater than the market [6:02]
  • Why the fund is currently underweight energy and financials [7:03]
  • Why the manager thinks interest rates will remain low [8:13]
  • What the one lasting change from the pandemic will be [9:22]
  • Why the manager is finding more opportunities in the US, India and technology sector [11:53]
  • The outlook for the second half of the year [11:59]
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