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An hour with Andy Brough – a piworld webinar

An hour with Andy Brough – a piworld webinar

17 July 2020

A very entertaining and informative hour with Andy Brough, Head of the UK & European Small & Mid Cap team at Schroders. Andy gives us his tips and insights on how to make money from equities, illustrated with many colourful anecdotes. A great watch for any equity investor.

Andy’s career & the funds – 00:50
What performance are you targeting? – 03:18
How do you manage money? – 07:09
Placings – Weatherspoon (JDW); Dart (DTG); Ted Baker (TED) – 12:52
Will institutional appetite for placings endure? – 14:12
How do you advise the retail investor to cope with volatility? – 15:20
Xaar (XAR) – 16:25
Has the story changed on any companies you hold with CV19 – 17:30
Where do you start with the annual report and accounts? – 19:00
Are we seeing more company failures? – 21:40
How valuable are broker notes to you? – 22:55
Does the macro picture play a part in your fund management? – 24:30
Has CV19 had any effect on your management of the funds? – 26:00
Tremor International (TRMR) – 27:54
What tricks to the trade can you hand on to us retail investors? – 28:31
What are your criteria for selling? – 30:30
What would you like to see happen to level the playing field for the retail investor? – 31:29
How do you see the future of fund management? – 32:37
Liquidity in small caps? – 33:31

Q&A

Sentiment and valuation disconnect with US market? – 35:49
Sectors to avoid? – 36:50 Do you use technical analysis? – 37:22
Games Workshop (GAW) – 37:45
What’s your primary quality metric when looking for companies? – 39:45
How is ESG affecting your investment selections? – 40:15
Which companies or sectors are you most positive about now? – 41:23
How much cash is held by the fund? – 42:05
Would you expect volatility to rise in August? – 42:50
Is lack of alternative choices for money driving the market? – 43:44
Dividends? – 44:53
What’s the short-term outlook on JD Wetherspoons (JDW)? – 45:50
Management incentives? – 46:34
Superdry (SDRY); Ted Baker (TED); Restaurant Group (RTN) – 47:44
How do you distinguish between good and bad management? – 49:08
Games Workshop (GAW) share sale – 49:50
Xaar (XAR) – 50:49
Spurs: buy, sell or hold?! – 52:44
Where to find Andy Brough & and the funds – 53:50

About Andy Brough:

• Head of the UK & European Small and Mid Cap team
• Manager of the Schroder Mid 250 Fund and the Schroder UK Smaller Companies Fund
• Co-Manager of the Schroder UK Mid Cap Fund plc and Co-manager of the Schroder Institutional UK Smaller Companies Fund
• Co-manager of Schroder ISF European Smaller Companies
• Investment career commenced on joining Schroders in 1987
• Chartered Accountant • BSc in Economics, Manchester University

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PIWORLD provides investors with the latest news and insight about listed companies and their management through either live or recorded investor presentations, management interviews, Capital Market Days and corporate overviews, together with interviews with leading fund managers or esteemed private investors in the small cap world.

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