Evenlode Global Income fund disposes of Disney in favour of 2020 valuation opportunities

Structural issues compel managers to dump brand

James Baxter-Derrington
Ben Peters of Evenlode

Ben Peters of Evenlode

A combination of short- and long-term factors has led Evenlode Global Income to drop the world’s second largest media conglomerate, Disney, from its portfolio, along with Hugo Boss, Informa and Sabre.

Talking to Investment Week, the £822m fund's manager Ben Peters explained that the decision factored in the short-term damage caused by the closure of its parks and resorts business, "which made up 45% of operating profit last year", and long-term structural issues. "You really cannot argue with the strength of the Disney brand, of course. But thinking longer term, while they have had some good success with the rollout of their Disney+ service streaming video on demand, catalysed by the pandemic, we do wonder how much investment they are going to have to make in order to create the conte...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Global

William Morris of Weatherbys Private Bank

Past recessions are not a guide to the future

US unemployment still low

William Morris
clock 17 August 2022 • 4 min read
“Cannot shake that silly pre-Enron, pre-9/11, pre-WorldCom feeling,” he wrote in one tweet.

'Big Short' Burry sells all but a single stock on dead cat bounce fears

$3.3m position in private prison group

James Baxter-Derrington
clock 16 August 2022 • 1 min read
Market Blog: UK real wages fall to lowest point in two decades

Market Movers Blog: UK real pay falls at fastest rate in two decades

Latest news and analysis

Investment Week
clock 15 August 2022 • 1 min read