69: Why Heathrow is a better investment than Gatwick

“Successful investing is about managing risk and not being afraid to hold cash when you can’t find assets at the right price,” is the mantra of fund manager James Mahon. And it is very apt in today’s situation. Having been very cautiously positioned at the start of the year, as all assets were expensive, he spent March and April using cash to buy equities and bonds at much cheaper prices. James tells us about buying both the bonds and shares of Diageo (maker of Johnny Walker whisky) recently and why Heathrow airport is a better investment than Gatwick.
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SVS Church House Tenax Absolute Return Strategies invests in lots of different asset classes including fixed interest, equities, property, alternatives and cash. The managers look for low correlation of returns between assets where possible, and low volatility in the fund’s overall exposure. It is one of the few funds in its peer group that targets an absolute return from diversification and risk management alone. It does not short sell any securities or indices.

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