192. Why energy prices could remain high

Niall Gallagher, manager of GAM Star Continental European Equity fund, explains why European companies have such a global reach. He discusses the big trends of the growing middle classes in Asia and decarbonisation and explains how European equity investors can benefit. Niall also gives his view on why inflation could be here to stay and why Europe is in danger of locking in high energy prices. What's covered in this episode: Why investing in European equities isn’t just investing in EuropeHow you can get exposure to the growing Asian middle classesThe goods and services that middle class populations spend money onHow to invest for decarbonisation in EuropeWhy the manager believes inflation is here to stayWhy renewable energy is expensiveThe political risk of windfall taxes on energy companiesHow the manager looks at ESG risksWhy Europe should be careful not to lock itself into higher energy pricesMore about the fund: GAM Star Continental European Equity invests in large companies, with the team preferring those it believes will grow faster than the index. The team looks to buy stocks at the point where they are either out-of-favour or where growth prospects are believed not to be fully reflected in the share price. Manager Niall Gallagher has a pragmatic approach, exhibits excellent patience in his process and conviction in his decisions.Learn more on fundcalibre.comPlease remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.Learn more on fundcalibre.comPlease remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.