Weekly Thoughts 04 May 2018

I had my Coronation consultant in the house yesterday. I enjoy meeting times with him the most of all my consultants. That might sound a bit unfair but maybe it’s because the shop talk is always pre-empted by conversations around our son’s school rugby and endurance sport in general. He is one of those people that rides his bicycle for too many hours a week and is about to ride the Sani to Sea mountain bike race. However, I still have the most academically interactive meetings with him of all consultants. This point excludes when I meet personally with a fund manager from any house.

Words that are thrown about in a typical, technical investment conversation include such terms as binary, carve out, equity, house view, speak to, centric, fixed return, drawdown, time horizons, expectations, short term, independence, mandate…. And others.

What is always just as important as the above business jargon, is that I need to be able to identify that an asset manager I use remains true to the reasons I selected them in the first place and that my identifying factors have not been changed by owners, partners, shareholders, etc. Coronation remains correct here.