Royal London Asset Management
Royal London Global Equity Select Fund
Global
Sep 2025 → Dec 2025
Our archive holds 2 letters from this strategy, behind 4 investment theses and positions in 13 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year · follow all of Royal London Asset Management for every strategy.
What it bought and sold
Recent transactions included the purchase of Kinder Morgan, an energy infrastructure business, with a portfolio of irreplaceable transmission and gathering pipelines.
To help fund these trades, we sold our positions in Wolters Kluwer and Constellation Software.
To help fund these trades, we sold our positions in Wolters Kluwer and Constellation Software.
We also sold the position in US insurer Brown & Brown, as the soft pricing in the US insurance market has been broadly confirmed and a subdued hurricane season means this likely extends into next year.
We purchased Intel, which is a Turnaround opportunity.
Also held
Its investment theses
- Kinder Morgan, Inc.Dec 2025Kinder Morgan is a leading US energy infrastructure operator with irreplaceable pipelines, rising data center-driven demand, and a tripled project backlog.
- Intel CorporationDec 2025Intel is a turnaround backed by new management, strategic US government and Nvidia support, and a strengthened balance sheet to drive foundry adoption.
- Agnico EagleSep 2025Agnico Eagle is considered the highest quality gold miner in the world, driven by structural demand dynamics in the gold market.
- Banco SantanderSep 2025Banco Santander is an attractive investment due to its strong geographic diversification, digital innovation, and disciplined cost control, which position it well for consistent returns despite macroeconomic uncertainties.