Do not forget UK Smaller Companies with Paul Marriage, Tellworth Investments

The Art of Investment

This week we delve into the smaller end of the UK stock market with Paul Marriage, Fund Manager of the Tellworth UK Smaller Companies Fund and Co-Founder of Tellworth Investments. We begin by looking back to Paul’s early experiences as a young investor (1.25) and the building of his career at Cazenove surrounded by some other great managers of that era (4.46).

Paul explains why the UK smaller company market is so exciting (6.17) and I ask him how he managed to build such an impressive track record over the years (8.50). He describes ‘P3M investing’ (11.08) citing that famous fizzy mixer company he was an early investor in (11.22). Is there space in a portfolio for companies that do not quite meet the high standards of P3M businesses, i.e. ‘value’ investments (12.57)?

He explains the drivers behind setting up an investment boutique (16.23), how Tellworth think about responsible investment (19.10) and why UK smaller companies can perform well from an ESG perspective (21.35).

As we emerge from the pandemic and with a Brexit deal decided, what is the mood of corporate Britain (24.30) and what should we take from the elevated levels of UK mergers and acquisitions (27.36). He shares some advice for young investors (30.40) and, as we are in the middle of the Test Match Series with India, we finish with a cricket related question (33.39)!

https://www.tellworth.co.uk/about/paul-marriage/

https://vermeerllp.com/who-we-are/our-people/paul-dixey/