CT Global Portfolio Managed Trust’s portfolio manager, Peter Hewitt, has been managing funds since 1983. He’s had a busy career, full of thoughtful analysis, reading and writing reports, and meeting other portfolio managers. A lot of care and hard work goes into actively managing the fund, and every day is a long day.
Key takeaways:
- CT Global Portfolio Managed Trust’s portfolio manager is Peter Hewitt, who has decades of experience managing funds
- For Peter, a day in the office revolves around research into market movements and analysis of the performance of other investment trusts
- Meeting other portfolio managers is another important part of the day job, as Peter needs to be open to new ideas as well as staying on top of his existing holdings
Peter Hewitt is CT Global Portfolio Managed Trust’s portfolio manager. He has been managing funds since 1983, giving him decades of industry experience and expertise. Being a portfolio manager of an actively managed fund is a demanding job. Peter’s days are typically very busy as he grapples with the latest global economic trends, analyses his fund’s performance, and meets other portfolio managers to gain insights into their funds.
We thought it would be interesting and insightful to read about Peter’s typical day at work, to illustrate the expert care and attention given to running CT Global Portfolio Managed Trust.
A glimpse into daily life
Peter comes into the office every day to touch base with his team. It’s an early start as data has already been coming in from other markets (which open earlier than the UK due to time differences) for several hours.
Once at his desk with a strong coffee, Peter begins to review the markets and check on the latest performance of CT Global Managed Portfolio Trust. A quick scan of today’s headlines informs him of any important events which could influence global economics. Peter needs to understand exactly what markets are doing, and what the funds in his portfolio are doing so he can make changes as necessary. That’s the key to active management, even with very long-term time horizons. The portfolio manager must always keep a close eye on market activity and how it’s affecting the fund’s holdings.
Peter gathers his thoughts ahead of joining the regular team meeting on macro strategy. It looks like it’s going to be a busy day, with the annual report to write, plenty of analysis to read, and a couple of fund managers to meet in the afternoon.
Inflation, growth, and the path of interest rates have taken up a lot of research time over the past couple of years, as the team has tried to understand the impact these various elements have on markets, sectors, and investment trusts. Peter’s analysts take him through their latest research, along with some analysis of the fund’s performance, so they can ensure it remains in line with objectives.
Back of his desk, Peter’s research continues with a review of the UK, where the team currently sees some great opportunities. He also looks into private equity trusts, whose wide discounts may offer the potential for capital returns over the long term. There are rich resources online for Peter to use, including a trust’s annual reports and factsheets. He may then compile questions to pose to the managers of the funds which will help him decide whether to buy a fund, keep it, or sell it.
Peter then needs to think about CT Global Managed Portfolio Trust’s own annual report, which needs writing. It’s a very important document, as other managers refer to it when they are considering buying into CT Global Managed Portfolio Trust in the same way Peter refers to those of other funds.
The afternoon quickly comes around, and after some lunch, Peter will typically go and meet other fund managers. As an active manager, Peter is constantly looking for new opportunities, so he may meet the managers of trusts he doesn’t yet invest in to understand if they offer an attractive proposition. As well as being open to new ideas, he always needs to be on top of his existing holdings and tries to meet the managers of his existing holdings at least once per year. CT Global Managed Portfolio Trust has two share classes (income and growth), and each is comprised of roughly 40 funds, so there’s a lot to keep on top of.
For CT Global Managed Portfolio Trust’s growth fund, Peter favours a core of investment companies that invest in long-term growth as these tend to have the characteristics that offer the potential for multiple times your original investment. For the income fund, Peter is focusing undervalued and unloved asset classes which can generate a good level of income. The managers he meets in the afternoon tend to suit these investment requirements.
Evenings are busy meeting clients or attending networking events. These are great opportunities to meet industry contemporaries, including fund managers, analysts, and brokers. Peter may confer with colleagues on their views on markets, or the performance of other investment trusts. Networking events are always insightful.
It’s been a long day. Time for some fresh air on the walk home to collect thoughts after a day of useful conversations. A huge amount of care and thought goes into managing CT Global Managed Portfolio Trust, and Peter will have to do it all again tomorrow.
Issued by Columbia Threadneedle Management Limited and approved for distribution 07/10/24.
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