197. Why interest rates are likely to go higher in the UK

Job Curtis, manager of City of London Investment Trust, discusses the UK stock market and why it has outperformed other stock markets around the world this year.  He gives his thoughts on the windfall tax for oil companies and how their presence in the North Sea will impact how much of their profits are taxed. Job also discusses inflation and interest rates – their impact on the UK economy and on companies in different sectors. He ends with details of the sectors he likes and dislikes and tips from a 30-year career running money.What's covered in this episode: Why the UK stock market has been doing well this yearIf the UK stock market can continue to do wellHow much exposure the trust has to oil companiesIf the windfall tax could have an impact on oil company dividendsWhy the North Sea is important when it comes to this windfall taxHow much gearing the trust has at the momentHow inflation could impact UK equity investmentsWhy the manager thinks interest rates will rise furtherHow the trust has some inflation protection through its holdingsWhich area of the UK stock market the manager likes bestWhich area he likes leastWhat tips the manager has for investorsMore about the trust: City of London Investment Trust aims to provide growth in income and capital by investing predominantly in larger UK companies with international exposure. It has increased its dividend payment every year for the past 55 years. Manager Job Curtis has run the trust for more than three decades and his thorough research process and conservative approach to stock selection have generated steady returns over a long time. The trust is also very good value: it charges 0.325% per annum of net assets under management.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.