287. The ‘Cashflow Champions’ of Europe
The Liontrust European Dynamic fund is a concentrated portfolio with 30-40 holdings, emphasising robust cash flows as the primary driver of returns from European companies. Its exceptional long-term performance is attributed to a collaborative, rigorous process and a flexible investment style that can pivot between value and growth based on market opportunities.
What’s covered in this episode:
- What is the Cashflow Solutions process?
- Why the fund is tilting towards value
- Are there concerns about Europe’s gas supply this year?
- Will Germany bounce back from recession quickly?
- Does the team prefer one country over the other in Europe?
- The strong momentum of Inditex
- The investment case for private equity business Partners Group
- Outlook for European equities in 2024
- The importance of positive stock news, highlighting Novo Nordisk