Fund Manager’s Diary

Monday The week starts with a hard session in the gym courtesy of my insane personal trainer. Afterwards it is a day of meetings in the office and a chance to talk numbers with our analysts. A few ideas for further research this week are identified so we know what we need to do this week. At the end of the day I drive to Gatwick for the night for a presentation tomorrow.

Tuesday The fourth date in our roadshows as part of the MultiManager: MultiChoice programme. This particular event is being filmed but, despite the camera crews, passes well. Some of the stories we hear from the audience about risks and problems with the asset allocation tools are frightening – this has the potential to be a source of extreme investor disappointment in years to come.

We drive to Exeter for dinner with John Husselbee and others from the roadshows. It may surprise some but the opportunity to talk funds of funds with other funds of funds managers is always fun. Groups take different approaches to how they do things and it would be naïve to think that any of us knew it all.

Wednesday More than 50 advisers turn up for what has been an encouraging series of presentations. Afterwards we face the long drive home, but as always the phone is buzzing all the way – thanks to legal hands-free systems! No end of callers with updates on matters. Also a number of advisers wanting to hear more about our new fund. We have been overwhelmed by the response so far.

Thursday Attend a conference in London about absolute return investing, an area about which I am keen to learn more. It is also an opportunity to meet other investors and get different views on matters. On the way home I hear about the latest game of musical chairs in the multi-manager industry. It comes as little surprise but only goes to show how important corporate stability and manager stability are in funds of funds. Richard Martin and I have been working together for eight years and this stability was one of the topics we talked about on the roadshows. It seems more pertinent than ever.

Friday A quiet day working, researching and thinking. I exchange a few emails with the underlying fund managers we use for the latest views of the markets as the news about Northern Rock starts to emerge.

Saturday The day starts early – children seem to wake earlier at weekends. After breakfast a trip to the gym where, while on the treadmill, I watch Sky News interviewing people live as they queue at Northern Rock to withdraw their money. This episode shows how the authorities have lost the public’s trust – one interviewee says the reason for her panic was simply because the government had said not to panic. I spend the rest of the day catching up on things around the house and play cricket with son Harry.

Sunday Each year Nottingham hosts a half marathon and T Bailey enters the corporate relay where the 13 miles is distributed between a team of five runners. This year I have the first (and flattest) leg.

The charities we are supporting are Headway (the brain injury association), the Fire Service National Benevolent Fund, CLIC Sargent (caring for children with cancer) and the Alzheimer’s Society (dementia care and research) If you are interested in donating then please contact me at jason.britton@tbailey.co.uk. This is an unashamedly blatant plug for money but as Smashie and Nicey would say “it’s all for charidee, mate”.

Jason Britton is a co-fund manager at T Bailey. His diary runs from September 10-16.