Ranmore Global Equity (IE00B61ZVB30) is a value fund that has grown very quickly over the past 18 months. In June 2024, it had a $300mn portfolio, but by January 2026 this had hit $1.5bn.
The fund’s manager, Sean Peche, talks to Val Cipriani about how he finds underappreciated and undervalued stocks, why he doesn’t meet company CEOs, and why buying and holding ‘forever’, a strategy favoured by star managers Terry Smith and Nick Train, no longer works in today’s rapidly changing world.
Timestamps
00:00: Intro
03:17: Three ways to get returns in markets and from companies
07:05: Value investing
08:31: Why I don’t meet CEOs
10:57: ‘Buy and hold forever’ doesn’t work in a rapidy changing world
15:22: A ‘fresh sheet approach’ and Qualcomm
17:40: The Magnificent Seven
19:21: Investors are starting to turn away from the US
23:09: Alternatives to the US
24:35: Terry Smith and passives
26:15: Greggs
29:01: Diageo
31:31: EasyJet
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