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John Husselbee: X factor auditions for Harker’s graduates

Fund manager interview #9: Stephen Harker

Age:
60  

Secondary Education:

Sir William Turner’s Grammar School, Redcar, North Yorkshire. A levels in Maths, Geography, Physics and General Studies.

Higher Education:
 Warwick University (1973 – 1976): BA in Mathematics & Economics
Sheffield University (1976 – 1977): MA in Economics of Finance
Career: Henly Centre for Forecasting (1977-1978), Nicholson Barber (1978-1983), Prudential Portfolio Managers (1983-1994), TCW (1994-2002), Societe Generale Asset Management (2002-2009), GLG Partners (2009-2015)

Professional Qualifications:
N/A



Despite being one of the best-respected managers in the industry – working in the notoriously difficult Japanese equities space – GLG’s Stephen Harker feels he only reached cruising altitude in career terms in his late 40s.

Stephen Bailey: The dividend yield trap to avoid in 2016

Looking forward to 2016, we view the prospects for different areas of the market as being more polarised than at any stage since the global financial crisis. We take a predominantly long-term view when researching relevant investment themes as this gives us the best chance of identifying social, economic, and political macro trends at an early stage, before they have been fully priced into share valuations. However, even when considering short to medium term trends, there seem to be several areas of the market which look substantially mispriced to us at the moment. 

Victoria Bates and Matt Tonge: Finding micro cap opportunities

Trade, cultural exchange and data bring business and people closer together, and this creates networks. Take Facebook – “The Social Network”. It has 1.5bn users, equivalent to 30% of the economically active population of Planet Earth. The network only functions because its members are willing to contribute; in return, members benefit from the contributions of others. As with the telephone, more users create greater utility for all. Social networks like Facebook allow cultural exchange on a scale never seen before.

Paul Kim: Using alternatives in volatile markets

The ending of extraordinarily easy monetary policy in the US will, for many investors and commentators, be the trigger for a period of increased market volatility as interest rates are hiked. For a number of years, money printing has effectively underwritten asset prices and suppressed treasury yields, fuelling an equity bull market and a chase for income. Many asset classes are now at or nearing expensive territory in terms of valuation. However, the expected inflationary pressures from a global economy awash with liquidity hasn't happened, and rates remain far below central bank inflation targets. This will change in time as unemployment continues to fall and wage pressures to start to rise. 

John Husselbee: Hearing fund management harmonies

Music and fund management are rare bedfellows. For Stewart Cowley however, a classical guitar bought on a childhood holiday started his path to a career as one of the UK’s most-respected bond managers.

If people have a stock image of a fixed income fund manager in mind, the versatile Cowley puts every cliché to the sword. How many city biographies encompass an apprenticeship at British Steel, friendship with members of Chumbawamba and an appearance on Masterchef?

Disclaimer

Any opinions expressed should not be construed as advice for investment in any [product or] security mentioned or which may form the underlying content of any topics discussed in this blog.  The information and opinions provided in this blog take no account of the investors’ individual circumstances and should not be taken as specific advice on the merits of any investment decision.   Any opinions or information provided has been based on sources we believe to be reliable at the time of this blog’s preparation: no representation or warranty, express or implied, is made as to the accuracy, reliability or completeness of such information.  Neither Liontrust, nor any of its partners, employees, representatives or agents accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of our research or its contents.

Liontrust, its partners and/or employees may have had, have or will have positions in the securities (or related financial instruments) which are those referred to, or those underlying the content discussed in this blog.

Any individual who chooses to invest in any securities should do so with caution. Investing in securities is speculative and carries a high degree of risk; you may lose some or all of the money that is invested.  Always research your own investments and consult with a regulated investment advisor or licensed stock broker before investing.

Shares in companies referred to may be relatively illiquid and hard to trade, therefore riskier than other investments and there could be a large bid/offer spread, so if you need to sell soon after you’ve bought, you might get less back than you paid. This can make them riskier than other investments.