The TM Brickwood UK Value Fund marked its first anniversary on 24 February 2026. Co-managed by Ben Whitmore and Kevin Murphy it has reached £220 million1 in assets under management within its first year. Launched into an environment marked by macro and political uncertainty, the Fund has benefited from strong investor demand for a disciplined, […]
We are delighted to publish Brickwood’s first annual stewardship report, reflecting our stewardship policies, activities and outcomes during 2025. It is a great source of pride to us to report on our stewardship activities for the first time.
Global stock markets are riding high — not just in price terms, but in valuation. In many regions, equity markets are hovering near record levels, and in the third quarter, the US market even surpassed its pandemic-era valuation peak. While starting valuation is not a reliable predictor of exactly how long a bull market will […]
Sticking to a tried-and-tested investment philosophy doesn’t mean standing still. In our search for continual improvement, we outline the key reasons why Brickwood has adopted the cyclically adjusted price-to-earnings yield (‘CAPE Yield’) as our primary valuation measure. At Brickwood, we have the rare opportunity to build an asset management firm from scratch. Starting with a […]