21. The luxury of Louis Vuitton to the discomfort of Ryanair

From the luxury of Louis Vuitton to the discomfort of Ryanair - voted the UK's worst brand for customer service – Niall Gallagher, manager of GAM Star Continental European Equity, talks us through his investments. Niall also tells us why he wouldn't want to be governor of the Bank of England, why talking to former employees gives to extra insight into the workings of a company, and why Asia matters more to European companies than Europe itself.
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Niall invests in three types of European companies: those disrupting industries; those dominating industries; and those with deluxe goods and services – but he tries to buy their shares at a point when the company is either out-of-favour or where growth prospects are not fully reflected in the share price. The result is a portfolio of 30-50, mainly large, companies.

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The views of the author and any people interviewed are their own and do not constitute financial advice. However the knowledge that professional analysts have analysed a fund or trust in depth before assigning them a rating can be a valuable additional filter for anyone looking to make their own decisions. Before you make any investment decision make sure you’re comfortable and fully understand the risks. If you invest in fund or trust make sure you know what specific risks they’re exposed to. Past performance is not a reliable guide to future returns. Remember all investments can fall in value as well as rise, so you could make a loss.

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