Company Size

‘Investments are never easy,’ says Smiley, Smith & Williamson’s head of institutional fund management. ‘Lots of people talk about easy money being made, but in my experience there’s never any easy money made,’ he says. ‘There’s always quite hard-earned yards on it.’ Nominated for Spear’s UHNW Asset Manager of the Year in 2014, the vivacious and friendly Scot continues to be ‘relatively positive’ on markets and returns during the next year. ‘There’s an awful lot of short-term crosscurrents… We believe it’s going to be a volatile year. But just based on the economic cycle, it continues to be quite favourable for equity markets,’ he says. ‘We don’t believe we’re at the end of an economic cycle which demands a jamming-on of monetary brakes and rapid rises in interest rates.’

Patrick Smiley