Fund manager


Jamie Clark

A unique opportunity to benefit from changes in life expectancy

How can declining improvements in life expectancy be a positive for Legal & General, a constituent of the Population Ageing Macro-Theme? In his latest blog, Jamie Clark explains. Read more
Jamie Clark

Ready for rising rates

In view of January’s leg higher in government bond yields, now seems like a good time to revisit our views on what we see as a fundamental shift in financial conditions. Read more
Jamie Clark

How we are playing the interest rate inflexion

Jamie Clark highlights three Macro-Themes which he believes are set to benefit from higher UK interest rates. Read more
Jamie Clark

Job gains mean higher rates are coming

Guess what? Interest rates can go up, as well as down. This was the strikingly clear and somewhat obvious import from the text accompanying the Bank of England’s unchanged rate decision yesterday. Read more
Jamie Clark

Is the FDA stubbing out tobacco stocks?

At the end of July the tobacco industry was dealt another blow, this time by the US Food and Drug Administration, which committed to cutting nicotine levels in a bid to reduce addiction to cigarettes. This intervention reinforces why we have long-avoided tobacco stocks within our Macro Equity Income and Macro UK Growth funds. Read more
Jamie Clark

Jackanory – the life insurers’ bears are reading the wrong story

The Liontrust Macro Equity Income Fund’s demographics theme is centered around the identification of corporate beneficiaries of ageing populations. Read more
Jamie Clark

Taking the edge off our pharma exposure

We are longstanding investors in the pharmaceutical sector, but think investors should be more critical in evaluating the chance of drug pipeline failure and risks to capital. Read more
Jamie Clark

Autumn Statement initial thoughts

Philip Hammond’s inaugural – and final – Autumn Statement confirms our view that fiscal activism has made an emphatic comeback. Read more
Jamie Clark

What ‘Trump-priming’ of US economy means for our Macro-Themes

This week’s US election outcome presents a timely opportunity to revisit and update our prior blog entry. Read more
Jamie Clark

Why Friedman is out and Keynes is back

Our Macro-Thematic investment process seeks to identify durable investment themes and associated opportunities to generate unit holder returns. Macro themes do not issue from a pre-populated Excel formula, or similarly linear process. Read more