Liontrust's Anthony Cross: Recessions tend to be more regional in their impact
Anthony Cross, co-manager of the popular Liontrust Special Situations fund, talks to Dave Baxter about the good and bad news coming out of his portfolio in this IC Interviews episode. This broad discussion covers the prospects of a variety of stocks and sectors, from challenges at Hargreaves Lansdown to the effect of recession worries on recruiters and property names, as well as an assessment of the slimmed-down GSK and a look at how rampant M&A activity has affected the fund.
00:00 - Intro
01:12 - Areas of resilience and areas of concern
04:38 - PageGroup and economic forecasting
07:34 - Holding investment platforms
09:56 - Hargreaves Lansdown
13:35 - Not owning 'neo-brokers'
14:44 - GSK (and Haleon)
18:32 - M&A/corporate activity
21:17 - Opportunity set in 2022
24:00 - Does the size of the fund effect cash deployment?
26:27 - Moving into the investment trust space
27:34 - Exposure to BP and Shell
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