Fund managers diary
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Daniel Tubbs co-manages the BlackRock Emerging Markets fund. His diary runs from January 18-24.
Monday My week starts at 6am, waiting at a cold bus stop for the number 43 to take me to the office. I use the 20-minute journey to check my emails and meeting schedule for the week. My first task every day is to catch up on market movements and news from the Asian markets. The day’s meetings kick off at 9am with two analysts discussing Chinese and Taiwanese banks. It is a fruitful discussion and after more analysis I put trades on to add to our Chinese bank exposure. I have two team meetings in the afternoon. One is to discuss general newsflow in global emerging markets and the other one is with my Asian specialist team reviewing stocks. I rush home to spend time with my newborn daughter.
Tuesday I spend most of the morning reading Asian equity research and talking on the phone with various brokers in London and Hong Kong, discussing the drivers of the Chinese economy. Before popping out for a sandwich I prepare a short presentation about China, which I make later that day during a video conference with other BlackRock offices around the world. The afternoon consists of the usual team meetings as well as beginning to plan my next quarterly business trip to a conference in Asia. Before I know it, it is time to head home and report for nappy duty.
Wednesday A busy day of meetings, starting with an interesting visit by a Chinese media company. Our daily meeting lasts longer than normal owing to two colleagues reporting back on their trips to Asia and some eastern European countries. We decide to add to our exposure in Poland and Hungary. I spend time analysing Korean banks to decide whether to trim our exposure before dashing out at 4pm to make a presentation to a potential client. Another busy but varied day.
Thursday Overnight, China reported impressive fourth-quarter GDP figures of 10.7% (quarter-on-quarter) showing the global recession barely touched the Chinese economy. Despite this seemingly positive news, the Chinese stockmarket corrects almost 3% owing to fears of tighter monetary policy. I spend an hour on a video conference with our team in Hong Kong sharing information and thoughts about China and the other Asian markets. (article continues below)
Friday I start the day with the usual early morning task of reviewing the overnight news in Asia. After my second cup of coffee, I discuss a few stock recommendations in Korea and Taiwan with my colleagues. We decide to switch out of one Taiwanese laptop design company into a smaller component manufacturer. After lunch with a stockbroker at a local Italian restaurant, I return to the office to focus on preparing for upcoming meetings early next week. It is 5.30pm and the end of another busy week.
Saturday After a rather disturbed night, thanks to my gorgeous little daughter’s insomnia, we jump in the car and head off to visit my parents in Kent. The weather holds up and we decide to go out for a pub lunch. My daughter shows off to her doting grandparents by sleeping peacefully throughout the whole lunch. I hope that does not mean she will struggle to sleep well tonight.
Sunday As usual, Sunday starts off with a jog around the park. After breakfast, we head out to a local art exhibition before meeting some friends for coffee. The weekend ends with my wife calling her parents while I read the papers. There is yet another article about the growing importance of China’s economy. It reminds me–I really must look into Mandarin lessons for my daughter.
