James Penny, chief investment officer at Tam Asset Management, talks to Asset Allocator funds correspondent Joe Wilkins and Investors Chronicle's Dave Baxter about market distortions over the past 12 months and where investors should allocate in 2024.
While the so-called 'Magnificent Seven' of S&P 500 tech giants are "priced for absolute perfection", according to Penney, some economists still think there will be a hard landing in the US which could be bad for risk assets "in total".
They also discussed whether fund houses should have value funds "in their locker", springboarding from the news about the change of manager on Jupiter Special Situations - a fund aimed at discovering value.
Penny also explained the way in which Tam Asset Management has created a Sharia-compliant MPS, aiming to serve what he called a "part of the UK which I think is under-serviced [in the investment industry], which is the Muslim community".
The Asset Allocator Podcast is a fortnightly series aimed at discretionary fund managers, fund selectors and wealth managers, providing insight into the issues that drive investment decisions.
You can listen to the podcast on Spotify, Apple Podcasts, Acast, Google Podcasts and most other major podcast platforms.
