By CNBC (World News) | Created at 2024-09-23 23:20:25 | Updated at 2024-09-30 07:28:25
6 days ago
CNBC's Silvia Amaro and Ranmore Fund Management's Sean Peche
After the U.S. Federal Reserve cut interest rates by a bumper 50 basis points, investors have been left wondering whether growth or value stocks are the best bet.
On CNBC's upcoming Pro Talks, Silvia Amaro will ask value investor Sean Peche where he sees opportunities in the current market.
Peche is portfolio manager at the U.K.-based Ranmore Fund Management and manages its $329 million Ranmore Global Equity Fund. Launched in 2008, the fund seeks to identify mispriced stocks — or those selling for less than their underlying value.
"An important part of our process is avoiding overvalued businesses. Investors often get caught up in the excitement of a rapidly growing business. Over time they begin to justify paying any price for this growth," he said. "This is something we are very happy to step away from, even if it means missing out on potential short-terms gains."
Peche will discuss which sectors and geographies investors should be watching right now, along with his favorite stocks. He'll also be quizzed on whether value investing is at a turning point, given the interest rate cuts by central banks around the world.
Ranmore Global Equity Fund's top sectors include consumer discretionary (24%), financials (22%), and industrials (10%). Only 3% of the fund is in tech, and 6% in communications. Its biggest holdings are in French supermarket chain Carrefour, petroleum company Petrobras, China tech giants Alibaba and Baidu, and Dutch bank ABN Amro.
As of Aug. 31, the Ranmore Global Equity Fund has returned 21.6% over the last year, underperforming its benchmark MSCI World Index's 24.4%. Since inception, the fund has gained 10.9% on an annualized basis, slightly more than the 10.6% posted by its MSCI benchmark.
Peche set up Ranmore Fund Management in 2008, prior to which he worked as a co-manager of a U.S./European hedge fund at the London-based Decillion Fund Management, and as an equity analyst at Orbis Investment Advisory.
CNBC Pro subscribers can watch Pro Talks live on Wednesday, Sept. 25, at 7 a.m. ET / 12 p.m. BST / 7 p.m. SGT.
Learn more from our previous Pro Talks:
- These 4 companies — including one backed by Warren Buffett — can leverage AI with their exclusive data, says fund manager
- Beyond Novo and Eli Lilly: Watch these biotech and weight loss drug names, fund manager says
- These 2 stocks and an ETF will gain whoever wins the U.S. election, says fund manager
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