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Julian Lewis
The international view – where is the value?
Julian Lewis, Chief Investment Officer and Fund Manager for the Cavendish Worldwide Fund, discussed his views on global investment markets. His discussion focused on the future long term value evident in emerging economies as well as the outlook for more established markets as they recover from a period of prolonged volatility.
Most developed economies have now emerged from recession. At this point there are pockets of value in distressed economies as well as in distressed sectors. Loose monetary policies and fiscal easing are likely to continue well into 2010 as inflationary conditions remain benign. This should continue to give support to equity markets as investors worry over the low yields on cash deposits and government bonds.
In light of markets rebounding, Julian explained why the value proposition of a niche manager like Cavendish is well positioned to take advantage of the shift in market sentiment through an unconstrained investment policy. |
Julian outlined Cavendish’s uncomplicated investment philosophy which is grounded on not placing any restrictions on economic sectors of investment. He believes many have lost patience with complex financial processes which dilute the importance of stock selection and the evaluation of their enduring growth prospects.
Drawing on his experience of managing an international portfolio of investments for Cavendish since 1987 – which includes the Cavendish Worldwide Fund – Julian also explored the role of active management for long term capital preservation.
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Biography
Julian Lewis is Chief Investment Officer of Cavendish. He has significant experience in investment management, both in the UK and worldwide, as well as specific sector experience in the property, hotel and leisure industries. Julian was a founding member of the Cavendish management team.
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