Victoria Stevens, Partner And Fund Manager, Liontrust Asset Management, On The Untapped Potential Of The UK Stock Market

Hiten Patel meets Victoria Stevens, a partner and fund manager at Liontrust Asset Management. Victoria discusses her unique career journey from financial journalism to asset management, highlighting the value of seizing opportunities and learning from challenges. She shares insights about her role, investment philosophy, and the importance of mid-cap companies in driving economic growth. Victoria emphasizes the significance of supporting ambitious companies for overall economic development. She addresses the current state of the UK stock market, including its underperformance compared to global markets and the implications for investors. The conversation also touches on the characteristics of successful growth-stage companies and how corporate acquisitions in the public market impact the industry. 

Key topics include: 

• Philosophy of investment and economic growth: Victoria discusses how mid-cap companies are vital for driving innovation and economic development, as they create a ripple effect by investing in products and services. She also emphasises the importance of identifying intangible asset strengths in businesses to ensure long-term competitive advantages and strong returns. 
• UK stock market dynamics: The conversation dives into the UK market and how it has underperformed due to capital outflows and a lack of recognition of its potential, presenting opportunities for long-term investors. 
• Active versus passive investing: The discussion highlights the need for active management in public markets, especially in identifying long-term growth opportunities. 
• Corporate acquisitions: Victoria shares her view on the dual nature of acquisitions and how it could be both is a sign of success and a challenge for long-term investors due to valuation pressures. 

This episode is part of Innovators’ Exchange, a podcast series that explores the financial infrastructure and technology landscape. Tune in for an engaging discussion of key themes and opportunities for both professionals and retail investors, touching on the transformative potential of artificial intelligence (AI) in financial markets.