217. Making money from an economy in structural decline

Alexander Darwall, manager of the European Opportunities Trust, tells us why the European economy is in structural decline, but also why you can still make money there as an investor. He discusses healthcare company Novo Nordisk – in particular, its diabetes drug and new use for weight-loss – tells us about investing too early in Deutsche Boerse, and reveals why his investment in Dark Trace is just a small position today. Alexander also gives his views on central banks: the mistakes they are making and how politicised he thinks they are.What’s covered in this episode: Why you don’t need to be excited about Europe as an economy, to still make money thereHow the right companies can do well, despite the risk of central bank mistakesThe characteristics of ‘special companies’ making up the portfolioWhy the manager invests in Novo NordiskHow a diabetes drug can also help patients lose weightHow Deutsche Boerse can do well in periods of stock market volatilityWhy the cyber security sector is at risk of disruptionMore about this fund:European Opportunities Trust offers investors access to a high conviction portfolio of European equities with a bias towards medium and larger companies. Manager Alexander Darwall generates his own ideas, primarily through company meetings. Firms benefiting from economic tailwinds and in strong positions within their industries are preferred. He particularly likes businesses with proprietary technology and companies that have a business plan that provides them with long-term sustainable growth. He has a record of success in different economic environments.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.