242. Wherever risk is mischaracterised, may well lead to an opportunity

<p><a href='https://www.fundcalibre.com/elite-funds/barings-europe-select-trust'>Barings Europe Select Trust</a> co-manager Will Cuss talks about all things Europe in this week’s podcast. He gives us a brief overview of inflation in the Eurozone and comments on some big moves in the commodities market. Will also discusses how the energy availability risk looks set to decrease with a combination of a new energy source – Middle East gas – coming onstream, alongside growing investment in renewable energy sources. He describes the USPs the team looks for in buying opportunities and tells us how corporate engagement informs and helps to identify companies that can do well in any sort of economic backdrop. Will concludes by highlighting why GTT, Gerresheimer and Accelleron have made it into the portfolio. <br/><br/><b>What’s covered in this episode:</b></p><ul><li>An overview of the European economy including commodity prices</li><li>How two new proposed energy supply sources will ease current pressures </li><li>How the team identifies companies that will do well in any economic environment</li><li>How risk is defined and buying opportunities in a volatile markets</li><li>The reasoning behind exiting holding Thule Group AB and why the team is sticking with Elis SA</li><li>The impact of near-shoring and/or fringe-shoring and reworking energy supply lines</li><li>How and why Gerresheimer AG is back in the portfolio</li><li>Why Accelleron Industries AG looks like being a long, strong hold</li></ul><p><br/><b>More about the fund:<br/></b><a href='https://www.fundcalibre.com/elite-funds/barings-europe-select-trust'>Barings Europe Select Trust</a> invests in small and medium-sized companies and is run on what is known as a GARP (Growth at a Reasonable Price) basis. The four-strong management team has a detailed and thorough process, looking at both the growth and quality aspects of a company before making a bespoke valuation for each holding based on a five year outlook.<br/><br/>Learn more on <a href='https://www.fundcalibr