GDIM investment manager Tom Sparke explains why a recent Zoom meeting was such a hoot and reveals which Schroders fund is bouncing back from being one of his worst performers in 2020.
What have been your top and worst performing fund picks during the year?
The Allianz Strategic Bond fund was a really effective fund for us this year and we benefitted greatly from its unconventional approach. The Baillie Gifford Positive Change fund was also a big highlight and added considerable alpha. The worst, until recently, was the Schroder Global Recovery fund, which is held in our most aggressive portfolios – 2020 was not the right environment for this fund to thrive but the recent resurgence in value stocks has meant a rally of over 20% in the fund since the end of November.
What are your biggest over and underweights as vaccine news points towards a return to normality?
We’re overweight to Asia as China and India are really exciting stories right now. China, especially, has dealt with the virus and has activity levels that are comparable if not higher than they were at the start of the year, something that Western economies are nowhere near. We are also overweight clean energy stocks as the world looks to make the change to renewables.
Any asset manager you want to highlight for the best lockdown communications?
I would commend JP Morgan Asset Management for their regular economic webinars, hosted by Karen Ward, and insightful views on markets – they did an excellent job of keeping clients up-to-date in the most trying of times.
What parts of the lockdown have made your job easier? And what parts of the lockdown have made your job more challenging?
The ease of virtual communication has made it much easier to keep up with what our fund managers have been up to. Also, the schools remaining open during the second lockdown has meant that home-schooling did not return, which was a HUGE relief (for me AND my children!).
What has been your most memorable Zoom moment of the year?
Just this week a fund manager explained how, right before the broadcast, a large owl flew down his chimney and he had to chase it around his living room!
How are you expecting your office life to look in 2021?
A lot more virtual events and less face-to-face meetings. This year has highlighted how swift and easy meetings can be so I expect there will be more of these in place of some physical events.
Tom Sparke is an investment manager at GDIM
