Date office opened: Nov 2013
Assets under management: £100 million +
Number in team: 8
Average portfolio size: £300k
Office clients: 400
Top three fund picks:
Old Mutual UK Mid Cap
First Trust United Kingdom Alpha
Goldman Sachs Global Small Cap Core Equity
Q&A with Andrew Morgan, portfolio manager, Walker Cambria - Swansea:
What is your typical client demographic?
A typical client would be someone in their late 50s, who has accumulated more than £200,000 in a pension and is looking to see that grown prudently for the next few years until their retirement.
For this kind of client, we would likely offer our bespoke portfolio management service, where we can tailor the client’s portfolio specifically for their requirements and circumstances.
What differentiates your region?
IFAs have a particularly strong grip on the retail investment market in south Wales. As our business is dedicated to intermediaries, that works extremely well for us.
What challenges are facing your area?
Like many regions of Britain, economic growth substantially lags that of London and the South East. The steelworks in Port Talbot is a major local employer, and the threat of its closure has hit local economic confidence.
The challenge for central, devolved and local governments is to provide the infrastructure to make regions like South Wales an even more attractive place to invest for major companies and to encourage more entrepreneurship. The southern region has a lot going for it, not least a talented workforce, vibrant cities and good links to the rest of the UK.
What’s the best thing about living in your area?
The scenery is wonderful. Our office is on the doorstep of the Gower peninsula, Britain’s first designated area of Outstanding Natural Beauty. And the people are extremely friendly.
What’s a typical regional saying?
A typical saying would be ‘Ych y fi’, which is used both by Welsh speakers and plenty who otherwise can barely speak a word of the language. The closest English translation I can think of is ‘urgh’!
Bullish or bearish?
We are reasonably bullish. We think the recent market correction has been well overdue. However, global economic fundamentals remain strong. If handled correctly, we think central banks have the ability to normalise interest rates without duly hurting financial markets.
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