Guy Anderson, fund manager of Mercantile Trust, joins Val Cipriani on the latest IC Interviews podcast. The trust is run by JP Morgan and is built on a bottom-up approach, focusing on quality UK mid-caps with strong cash flows that will accumulate dividends over time.
In this episode, the two discuss the drivers behind the trust’s success and investment process, opportunities in the UK stock market, M&A activity and more.
Timestamps
00:58 UK mid-caps
4:28 The UK stock market
8:13 Red flags for gearing
10:20 - The metrics that sound out when picking a stock
12:23 - Sectors that stand out and opportunities
15:20 - The risk of getting the recovery wrong
17:16 - 4imprint
20:44 Why exposure to housebuilders has gone up
28:24 AI
30:49 M&A activity
35:47 Dividends
38:02 The trust’s approach to discounts
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