Law Debenture launches financial education initiative WIN* - Widening Investor Networks

What was your first experience of investing?

I did not grow up in a household that spoke about investing. It wasn’t until I was on a trading floor of 600 in my early career that I became aware that I should be doing something with my money besides spending it. Being a 20-something man in that environment meant I made some pretty poor decisions early on. I put all of my savings into four companies, three of which made a significant loss and one of which just about broke even. After that I understood why a fund might be a more sensible option for me.

Has there been a person or resource you have found most helpful in your investment journey?

For me the fund managers themselves have been the most helpful. In my late 20s my university friend set up a hedge fund and from 1997 to 2014 this outperformed the market quite significantly. This was during some really challenging economic periods so watching his approach was a great way to better understand market dynamics. These days James Henderson and Laura Foll, Law Debenture’s own fund managers, are my go to. They are great at explaining their approach and their results speak for themselves. There are lots of platforms that really shine the spotlight on fund managers so it is well worth listening to what they have to say and, coupled with their performance, deciding which approach resonates for you.

What has been the riskiest investment you have made, or considered?

That early investment of all of my savings into four companies was the riskiest, and it didn’t pay off. Since I have moved to a fund-based approach the risk level has naturally reduced. However, I remain happy to take a bit of a risk and have a well-balanced portfolio that supports that. What I try to do is to understand the risks that I am taking, if I don’t understand it, I don’t invest in it. 

What’s next for your investing journey? 

I am always looking to the future. When it comes to investing that means following current market trends, listening to those experts I mentioned earlier and keeping a look out for things that really interest me. I am aligned with James and Laura’s confidence in the UK market and, given my role, am heavily invested in Law Debenture which is UK focused.

I have three children who are themselves starting to be interested in investing. It is interesting to hear what they are thinking of and the resources they use. I can’t see myself taking advice from TikTok but as many established, regulated brands are using social media to reach a new investor audience I think it is well worth keeping an eye on.

What would you tell your 20-something self about investing?

Find a good fund manager. I was fortunate to have had a very good experience in this regard. My advice would be to make sure you learn from each experience, particularly the losses.

Thanks Denis!

This interview is for information only and it is not investment advice. It is for use in the United Kingdom only. Investments and/or investment services may not be suitable for all investors. If you are not sure which investments are right for you, please seek advice from an independent financial adviser. If you choose to invest in financial instruments, you should remember that capital is at risk and that the value of investments can go down as well as up. This means that you could get back less than you put in. Some investments are less readily realisable than others and it may therefore be difficult to deal in or obtain reliable information about their value.

Capital is at risk and past performance is not an indicator of future performance. 

What was your first experience of investing?

I ended up as a Fund Manager because my dad invested in investment trusts throughout his working life – he didn’t work in finance, but he was passionate about investing. When I got a bit older he saw that I had the same interest and he would try and teach me the basics using the back pages of his Financial Times. So I effectively grew up with investing in the background and I saw the benefit it could bring to people.

Has there been a person or resource you have found most helpful in your investment journey?

One of the best pieces of advice I received at the start of my career was ‘be a sponge’, and I think the same applies to investing. I would say read and listen to anything you can – I like to listen to podcasts (one I particularly like is Merryn Talks Money), and the consumer platforms (eg Hargreaves Lansdown, AJ Bell) have great free information pages where you can learn about the likes of investment trusts versus open ended funds. Once you get a bit further along, fund manager websites often have interesting videos you can watch from fund managers about their approach, what they’re buying and selling etc. There is a huge amount of free resources available so I would say cast your net as widely as you can (although with a warning to stick to reputable sources, be wary of social media).

What has been the riskiest investment you have made, or considered?

With my own finances, I invest entirely in shares (I own the three trusts I manage alongside a handful of other trusts). This would, I suppose, be considered ‘risky’ because I haven’t diversified with other asset classes (such as bonds or alternatives), but I’d like to think I’m still young (just about) so volatility doesn’t matter as much, because I’m still earning and I have a long time horizon. So my personal investments would probably look ‘risky’ to an outsider, but its what works for me.

What’s next for your investing journey?  

I need to be more organised with using tax allowances fully, and in particular taking up the Child ISA each year.

What would you tell your 20-something self about investing?

The most important thing is time in the market, not timing the market. I used to try and be clever with market timing, nowadays I worry less and invest pretty much when I can (for example in ISA season).

Thanks Laura!

This interview is for information only and it is not investment advice. It is for use in the United Kingdom only. Investments and/or investment services may not be suitable for all investors. If you are not sure which investments are right for you, please seek advice from an independent financial adviser. If you choose to invest in financial instruments, you should remember that capital is at risk and that the value of investments can go down as well as up. This means that you could get back less than you put in. Some investments are less readily realisable than others and it may therefore be difficult to deal in or obtain reliable information about their value.

Capital is at risk and past performance is not an indicator of future performance. 

Getting engaged with your pensions early can make all the difference to your future. 

This will be a hybrid event, in person and streamed. More details will be shared in December. 

Register your interest here. 

Once you have made some investments it can be tempting to tinker. This practical session will explain what to consider when reviewing your portfolio and how to go about making changes. 

Register your interest here. 

On September 25th we hosted our inaugural event, Get investing – what you need to know to take your first steps. A panel of finance and investment industry experts offered independent, easy to follow insights into getting your finances in order and the basics of investing.

Our aim is for guests to leave the session feeling confident in what to ask and where to go to get started with their investment journey. 

Watch the recording here

Meet our speakers:

Alasdair Walker, CFP™ and Chartered Financial Planner – Handford Aitkenhead & Walker

Alasdair previously chaired the influential Expert Practitioner Panel at the Personal Finance Society, which supports and shares best practice across the sector and pushes for higher standards and better consumer outcomes. He is an award-winning CFP™ Professional and Chartered Financial Planner and holds the Certificate in Discretionary Investment Management, as well as being a qualified coach and mentor.

Emma Wall, Head of Investment Research & Analysis – Hargreaves Lansdown

Emma's responsible for developing and implementing the investment processes for Hargreaves Lansdown Asset Management, including the Wealth Shortlist. With over 15 years of experience in the financial sector, she provides market leading views and analysis to investors worldwide. Emma's team provides strategic asset allocation, ESG analysis, and research on equities, funds, ETFs and investment trusts, to HL's self-select, advised and workplace clients.

Laura Foll, CFA and Portfolio Manager – Janus Henderson Investors

Laura Foll co-manages the UK equity income portfolio of the Law Debenture Corporation plc with James Henderson. She is also a Portfolio Manager on the Global Equity Income Team at Janus Henderson Investors. She holds the Chartered Financial Analyst designation and has 15 years of financial industry experience.