Fund managers diary
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Martin Brown is investment manager, UK Equities at Ignis Asset Management. His diary runs from May 3-9.
Monday Spend the long weekend away with my wife on a short break by Loch Lomond. I should have been sea kayaking with some friends but I fractured my elbow playing football last week.
Catch up with some research and market commentary in the evening. Greece and southern European debt is again dominating our thoughts.
Tuesday Contagion risk from the crisis in Greece dominates the market. Spend a lot of today discussing the ramifications for equity markets, and more importantly for our funds.
In the afternoon, I prepare for our internal focus meeting tomorrow. A stock that has been on my watch list since I met the management in early February has fallen sharply.
Wednesday Much of my day had been set aside to read through the Prudential prospectus related to its rights issue and bid for AIA. It is rumoured to be 1,000 pages long - some guys have all the luck. However, a last minute FSA [Financial Services Authority] intervention means it has all been postponed.
”It is rumoured to be 1,000 pages long - some guys have all the luck”
A focus meeting provides us with an opportunity to run through the portfolios. It is a good way to get perspective by looking at recent performance and discussing potential ideas. I go over the new stock idea with the team.
In the evening I go for dinner with Chris Fellingham, our head of UK equities and chief investment officer. The subject range is broad but much of the evening focuses on how to take the business forward and how to raise awareness of some of our funds, which are turning out strong investment performance. (article continues below)
Thursday As the nation goes to the polls, global stockmarkets continue to fall sharply. During periods like this I tend to spend much of my time watching the market and assessing whether any movements provide us with ideas and opportunities to pick up quality stocks that are being caught up in the panic and indiscriminate sell-off. I stay up to the small hours to watch the election coverage but as it turns out, it is not really much of a spectator sport.
Friday The wild moves in the American market mean its an early start as we brace ourselves for a hung parliament and more bad news from credit markets.
“The afternoon is taken up with a conference call with John Major on the election”
Fortunately there is some good news though. The doctor tells me he will not have to operate on my arm. I spend the morning working on some propositions that we think might appeal to investors given the climate.
The afternoon is taken up with a conference call with John Major on the election and the implications for government action in a hung parliament. I also have to start on the preparation for several company meetings that are scheduled in for next week.
Saturday My wife has been abroad all week with work so we spend much of the day catching up with each other. We even manage to force ourselves to start packing some boxes ahead of moving house in a few weeks. Well she packs and I direct - my fractured arm is a ’man injury’ and does have some benefits!
Sunday Up early to climb Ben Lomond with a friend. We take on the Three Peaks Challenge in less than a month so some much needed training is required. I spend a quiet afternoon going through the Sunday papers and finishing off some of my meeting preparation. We then head out for something to eat with friends in the evening.
