UK shares as cheap as 2008, says Temple Bar manager: Investing Show

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INVESTING SHOW: The UK stock market is cheap and looks as interesting as in 2008, says Temple Bar manager Ian Lance

Doom and gloom are dominating the headlines but investors are being too pessimistic, says Temple Bar manager Ian Lance.

He says: ‘Today, we think is a really interesting environment. We go as far as saying it is as interesting as 2008 and 2000, which were the last two times we think we used to see bargains of this nature.’

‘At the moment we think the UK is a very cheap market.’

The value investor looks for shunned stocks that are trading at least 50 per cent below their intrinsic value and, taking a five-year view, looks at what they should be worth when they recover.

Lance, co-manager of Temple Bar investment trust alongside Nick Purves, says that while the UK stock market has fallen by less than its international peers this year, it still contains plenty of bargains for value investors.

He discusses his views on where value lies in the UK and elsewhere in the world on this episode of the Investing Show, with This is Money’s Simon Lambert and Interactive Investor’s Richard Hunter.

BP shares have more than doubled from their pandemic low but remain good value, says Lance

Ian explains why he sees Marks & Spencer as significantly undervalued and why even despite BP’s huge share price rise since its pandemic low, the energy giant also remains good value and underappreciated by investors.

Temple Bar sits within the Association of Investment Companies UK Equity Income sector and is the best performing trust in that sector over the past year, with a total return of 8.48 per cent. It yields 4.1 per cent and has an ongoing charges figure of 0.57 per cent.

Redwheel Capital, Lance’s firm, took over management of Temple Bar two years ago. Over five years the trust has returned 11 per cent, compared to a sector average of 20.5 per cent.



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