Investing in direct equities for clients sits at the centre of our investment management service. Our general style is to hold a core portfolio of between 25 and 40 stocks – but the specific stocks actually held will clearly vary to suit the requirements of each individual client. In some cases, the required equity portfolio may be obtained in a tax-effective manner by holding one of the Taylor Young Funds.

An equity portfolio might be invested only in UK shares with exposure to overseas markets gained by using suitable collective investments. Our UK equity portfolios usually include some investments in medium and smaller-sized companies. This is an area where much of our own “primary research” is focussed and this includes regular meetings with the management of the companies in which we invest. In addition, investors should bear in mind that “smaller”, in stock market parlance, can often mean companies trading internationally, employing hundreds, if not thousands, of people and making hundreds of millions in sales annually.

Alternatively, for some clients we adopt a global approach, holding what we consider to be the most attractive companies on an international basis. One thing remains constant and that is that the stock selection reflects our thematic approach. Managing portfolios in this way is an increasingly credible strategy, given that first class information about overseas companies is now more readily available than ever, and cross-border corporate activity is commonplace.



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