PA Adviser takes a walk in the life of John Husselbee, head of multi-asset at Liontrust, who diarises his week at work.
Monday
I arrive at the office on the Strand early morning after a quick Pret. I wonder what happened to the glorious weekend sunshine as the rain pours down.
The first meeting of the week is with the Marketing team to review upcoming communications and presentations and, as usual, there is lots to discuss to ensure we are providing the information that clients value.
This is followed by a quarterly Tactical Asset Allocation (TAA) and portfolio construction meeting with the rest of the multi-asset investment team. We discuss possible changes to the TAA having gone through the views of the whole team and external analysis. We are overweight equities, including the UK, Japan, Asia ex-Japan, emerging markets and US small caps.
At lunchtime, I head off to an event at the Royal Society of Arts – a talk and interview with the economist and author Daniel Susskind on his recent book ‘Growth: A Reckoning’. It’s a fascinating exploration of the history of how governments came to prioritise economic growth, the cost to the planet and society, and ideas for generating future growth.
Later in the afternoon, I catch up with the rest of my team again to discuss and review market returns and recent meetings with fund managers and clients.
Tuesday
On the way to the office, I chat to James Klempster, deputy head of the team, by phone as he is presenting at Defaqto events in Knutsford, Birmingham and Towcester over the next three days. I then head to Pret to grab a much needed coffee.
This morning, we have a quarterly update with one of our clients. The IFA’s investment committee is reviewing the rebalancing of portfolios over the last year since we implemented the new Strategic Asset Allocation (SAA).
After a quick lunch, I have an online meeting with fund manager Phil Milburn, co-head of the Liontrust Global Fixed Income team, to get his latest thoughts on the economy and when interest rate cuts might start in the UK and US.
I can now head off to Tottenham’s last home game of the season against Man City. Too much rests on the result of this game to enjoy it, although most Spurs fans like my son and I would have been delighted at the start of the season to end it in fifth place. I meet Adam Lewis [acting editor of PA Adviser] for a pre-match beer – Neck Oil that is brewed in the football ground – to try to relax. If only Son had scored with that great chance in the second half, the end of the season could have been so different!
Wednesday
I go to a presentation at M&G Investments – a well-deserved celebration of Richard Woolnough’s 20th anniversary of launching the M&G Strategic Bond fund.
Then it’s on to another presentation – over lunch this time at Hawksmoor in the City with Andrew Swan who manages the Man GLG Asia fund. Andrew is based in Australia and is a high conviction manager who is more bullish on China than many of his peers.
We have another in our series of quarterly updates with clients in the afternoon before heading home for a “Sherry & Tapas” night at a local restaurant with friends. It’s a lovely way to spend an evening and the sherry is delicious.
Thursday
The key event this morning is our quarterly TAA and portfolio construction oversight meeting with our independent external asset allocation strategist. This is a valuable addition to our internal debate about the TAA we held on Monday and helps to ensure the multi-asset team avoids groupthink.
For lunch, I take advantage of the appearance of the sun to walk down to the Embankment for a stroll. I buy lunch en route – not Pret this time! – and sit and read fund and market insights in the fresh air.
I travel home from Fenchurch Street to Thorpe Bay – it’s an hour-long journey which gives me an opportunity to listen to my favourite podcasts (financial and sports – sorry Adam and Jules, not Back of the NAV this week) as well as pre-recorded webinars on my iPad.
In the early evening, I attend an online quarterly investment committee meeting of a charity for which we manage their investments before switching off for the evening.
Friday
I work from home this morning to complete online training. This is followed by a co-ordination call with fellow panellists before the live SimplyBiz Advice Show next week. It should be an interesting event with speakers on a variety of subjects.
It’s a beautiful day so I take the dog for a walk along the seafront at lunch time – she enjoys it even more than I do.
In the afternoon, the multi-asset investment team discuss UK equities and the funds we hold. We still believe the UK is undervalued in aggregate and it feels like sentiment is beginning to head our way.
Saturday
This morning, I am out for coffee with my daughter and our first grandchild (Penelope), who is four months old. It’s a good way to start the weekend.
In the early afternoon, I make the most of the good weather with a round of golf in the Saturday Swindle at Thorndon Park GC.
Sunday
A lovely weekend is rounded off with a BBQ party at my son’s house with family friends to watch the final game of the season. And it’s a better day than Tuesday as we beat Sheffield United and net a place in the Europa League for next season! I can start next week with a smile.
