Investment Strategy

The video opens with an introductory clip of Steve speaking, with uplifting music in the background. Steve Clayton, Head of Equity Funds at HL, and Susannah Streeter, Head of Money and Markets at HL, are sat at a table speaking. Throughout the video, the camera switches between seeing both Susannah and Steve sat at the table, an individual shot of Steve speaking and an individual shot of Susannah speaking.

Steve: We live to find great businesses and to know that we are making good investment decisions for the long term. We know how important that is for people's lives, and that's an incredibly rewarding thing.

The music becomes louder and the introductory sequence begins. We see a series of shots of the exterior and interior of Hargreaves Lansdown’s flagship office. The shot changes to show Steve Clayton walking through the office, speaking with a male colleague. The music fades slightly as we see Steve and Susannah sat at the table again. During the question and answer that follows, Steve and Susannah’s full names and titles are shown on the screen:

Susannah Streeter - Head of Money and Markets, HL

Steve Clayton – Head of HL Select, Equity Funds

Susannah: Can you give me an overview of your background as a fund manager?

During Steve’s next answer, we see a series of shots of Steve in the office, working with a male colleague. They are speaking with each other while looking at a market overview on Steve’s colleague’s computer screen. Steve points at areas of the screen to draw his colleague’s attention to specific markets.

Steve: I've been working in the equity markets since 1987, so that's about 36 years. And in that time, I've been an investment analyst. I've been a stockbroker and I've also been a fund manager. I think the most important thing for any investor is to be in the market. Think about the last 25 years: we've had tech booms and busts, we've had pandemics, we've had wars in the Middle East, we've had political crises. And markets, historically, they've always gone up over the long run.

The music volume lifts momentarily.

Susannah: What qualities would you say are essential for a successful fund manager? And how do you embody those qualities in your work?

During Steve’s next answer, we see a series of shots of Steve in the office, having a small informal meeting with two colleagues: a man and a woman.

Steve: You've got to be curious. You have to want to know what makes things work. It's that thirst for understanding that delivers the knowledge which allows you to make the right decisions and know when to change things. We’ll look at reports and accounts, we’ll have regular meetings with the management of the companies that we're invested in. So that gives us a chance to ask our questions and try and probe. And make sure that we are happy that the business is as strongly positioned as we believed it was when we first invested.

The music fades and changes track as we see Steve walking around the office with a male colleague, speaking with him.

Susannah: What do you find the most rewarding about your job as a fund manager? And what's the most challenging aspect of your work?

During Steve’s next answer, we see him sat at his desk, looking at a computer screen showing market performance.

Steve: When you see your analysis turning into a successful investment, and you know that by spending all those hours sifting the information, you've ended up with a profitable investment that is going to enrich your clients’ lives in the years ahead. What's most challenging is when the future doesn't play out exactly as you thought it would. We're dealing with an uncertain future, we're always trying to make our best assessment of where things are going to go. And the best fund managers are those that can look in the mirror and go: “You got that wrong. Change it.”

The music volume lifts momentarily as we see Steve in a boardroom with colleagues. They are in a meeting and Steve is pointing to a diagram demonstrating the portfolio breakdown of one of the HL Select funds.

Throughout the rest of Steve’s answer, we continue to see a series of shots of Steve in the office: smiling during a team meeting in a boardroom and discussing something with a colleague who’s sat at a computer.

Steve: This isn't a job, it's a passion. And all my team, we live to find great businesses and to know that we are making good investment decisions for the long term. Because, we know how important that is for people's lives. And that's what gets us up out of bed every day to go and crunch those numbers.

The Hargreaves Lansdown logo appears on the screen with a blue background. The logo then fades and is replaced with a disclaimer screen containing the following important information:

This video is not personal advice. If you’re not sure what’s right for you, speak to a financial adviser. Investments can rise and fall in value so you could get back less than you invest. The Hargreaves Lansdown fund range is managed by our sister company Hargreaves Lansdown Fund Managers Ltd.