October 12, 2018

Fund Manager Chat: UK Equity Income – Steve Magill, UBS Asset Management

by Jake Moeller.

Recorded on: October 10, 2018

In this podcast, Steve Magill, fund manager at UBS Asset Management provides an overview of the philosophy and process behind the UBS UK Equity Income Fund and provides a comprehensive overview of of the asset class in the current market.

Steve discusses recent performance of the fund, its current positioning and outlines some stock examples in his portfolio. He also considers some of the opportunities and challenges investors face in obtaining reasonably priced equity income today. He also explains why he believes that value-style managers may about to experience some beneficial tailwinds.

Running Order

Run Time Topic
00:17 Please outline your fund’s philosophy and objective
00:33 What expertise do you and your team bring to this competitive sector?
01:37 Where do you find value in UK equity income?
02:20 How durable is dividend income at the moment?
03:00 How is your portfolio currently positioned?
04:00 Outline a couple of stock examples (Barclays and BP)
05:00 What are some of the challenges you currently face in the market?
06:24 Where are we in the market cycle? How does this impact you?
07:08 Value investing has been out of favour for a while. How is this changing?
08:40 What arguments would you use to encourage investors into your asset class?

 

Steve is chatting with Jake Moeller, Head of Lipper UK and Ireland Research, on October 10, 2018.

About Steve Magill

Steve Magill, UBS Asset Management.

Steve Magill is Head of the European Value team, managing around £5 billion of UK Equities, and £2.4 billion of European equities.

Steve initially joined UBS Asset Management in 1986, before taking a career break to study. He re-joined after gaining a First Class degree in Accounting to UBS AM as a UK Equity Portfolio Manager.

Having successfully built a track record as a PM, Steve moved to a European healthcare role as a senior analyst, progressing rapidly to take on the role of Deputy Head of Pan-European Research in 2007 and leading the Global Healthcare team.

Steve re-joined the UK Equity Value team in 2009 as part of a managed succession plan, becoming head of the team in 2015. In 2017 his responsibilities were extended to managing the European Equity Value strategies

Steve is a Regular Member of the CFA Society of the UK and the CFA Institute.

 


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Disclaimer: 
This material is provided for as market commentary and for educational purposes only and does not constitute investment research or advice. Thomson Reuters cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided in this publication or from any other source mentioned. Please consult with a qualified professional for financial advice. The author does not own shares in this investment.

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