00:00What do you have specifically in mind in trying to kind of diversify?
00:03Well, I mean, the darling of global equity markets is the UK, of course, at the moment,
00:07enjoying some nice momentum and, you know, certainly isn't a tech play that has been
00:14a diversification source that hasn't been helpful up until about the last year or so.
00:20And of course, we know the UK economic story isn't particularly perky at the moment,
00:26but we see rate cuts coming through that could be supportive for the economy in the second half of the
00:30year.
00:31And in the meantime, we have some great businesses where valuations aren't so demanding.
00:35Now, I know there's a lot of eye rolling at valuation comparisons with the UK and the rest of the
00:39world.
00:39You know, some sectors it's unfair to compare, but there are like-for-like businesses sort of in the energy,
00:44in tobaccos, in mining that are trading on discounts to international peers,
00:48which just seems like an opportunity.
Comments