5 Minutes With… BMO’s Jamie Jenkins

Jamie Jenkins, manager of the four-star rated BMO Responsible Global Equity fund, speaks about opportunities in healthcare technologies and his penchant for history

Annalisa Esposito 6 December, 2019 | 12:17AM

Jamie Jenkins has run the BMO Responsible Global Equity fund since 2013. He joined the firm in 2000 from Hill Samuel Asset Management, where he was a Japanese equities manager.

The fund invests in "responsible" businesses around the world with a focus on large-cap companies. Top holdings include tech giant Microsoft (MSFT) and the world’s largest industrial gas company Linde (LIN). The fund is up 27.6% year to date and has delivered annualised returns of 14.2% over three years. 

What does the fund do?

Invests in companies that make a positive contribution to society and the environment. This is not a “pick the best companies” type of fund, as it also holds ones that have the potential to improve, but it’s a fantastic vehicle to get global equity exposure,

What are the biggest challenges in running the fund? 

Not overpaying for stocks, which can be hard when you are looking for quality, growth and sustainability. 

Where are the biggest opportunities?

They are in the collision between the tech and healthcare sectors, and US stocks are very well positioned for this trend. For example, Apple (AAPL) is expanding into healthcare – many people have Apple Health on their phone and are getting more comfortable with giving away their data. Apple is also my best investment.

What's your worst investment ever?

I had the misfortune to invest in Japanese nuclear operator Tepco while I was running a Japanese portfolio in March 2011. The Fukushima earthquake disaster happened and the stock collapsed.

What is a stock you are currently excited about in the portfolio?

A Japanese company called Hoya (HOCPF), one of the largest manufacturers of spectacle lenses. That part of the business provides stable growth but it also has a tech arm that specialises in endoscopes and another that provides technologies for advanced photography.

What is a stock you wish you'd bought but you didn’t?

Adobe (ADBE). I couldn’t quite get comfortable with the share price valuation but its subscription model has been very successful and the shares have performed fantastically. 

Why did you become a fund manager?

I wanted to get a job in financial services and the role of a fund manager is great for people who are curious, which I am. I like asking questions and putting arguments together that support my view, assimilating a lot of information from a range of different sources and coming up with a conclusion.

If you weren’t a fund manager…

A real passion of mine is history, so I would have tried to be a writer in the field. Writing historical books, carrying historical analysis.

Who is the last person who has influenced your daily job?

My family. They keep me grounded, remind me that I should always apply a healthy dose of common sense in my daily job and not get carried away with the intensity of the job - to keep my feet on the ground to make good long-term decisions.

What’s your favourite book of all time?

The New Silk Roads by Oxford professor Peter Frankopan. It’s a new history of the world, written in 2015. It puts the geo-politics of today in a very broad historical context, for example, the influence China has on the world today is nothing new.

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Annalisa Esposito  is a data journalist for Morningstar.co.uk

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