In the inaugural episode of The Sharpe End, David, Will and Craig discuss the private equity battle for Morrisons and the broader picture for UK retail. Also, how might the UK’s inflationary future differ from the rest of the world, and what does Cristiano Ronaldo know about Coca-Cola’s water business?

Rathbones multi-asset investing team:

David Coombs, Head of Multi-Asset Investments.

Will McIntosh-Whyte, Fund Manager, Rathbone Greenbank Multi-Asset Portfolio funds and Rathbone Multi-Asset Portfolio funds.

Craig Brown, Senior Multi-Asset Investment Specialist.

About Rathbones:

Rathbones, a FTSE 250 listed company, provides individual investment and wealth management services for private clients, charities, trustees and professional partners. Rathbone Unit Trust Management (Rathbone Funds) is a UK fund manager, offering equity and bond unit trusts and a multi-asset fund range to meet your capital growth and income requirements. Rathbone Unit Trust Management Limited is a wholly-owned, London-based subsidiary of Rathbone Brothers plc.

This podcast is intended for professional investors, and must not be shared with a non-professional audience. Any views and opinions are those of the investment manager, and coverage of any assets held must be taken in context of the constitution of the fund and in no way reﬂect an investment recommendation. Past performance should not be seen as an indication of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. This podcast has been produced for information purposes only and isn’t intended to constitute financial advice. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording; Investments referred to may not be suitable for all recipients. Any mention of a specific security should not be interpreted as a solicitation to buy or sell a specific security. Rathbone Unit Trust Management Limited is authorised and regulated by the Financial Conduct Authority. A member of the Investment Association. A member of the Rathbone Group. Registered office: 8 Finsbury Circus, London, EC2M 7AZ. Registered in England No. 02376568.

Supermarket sweep

Are we in an AI bubble? That’s the question the team try to answer on this month’s episode. While there are definitely bubble-like signs popping up in the market, are there enough for the team to be worried? Next, some cracks are beginning to show in private credit. The team discuss recent bankruptcies that have hit the headlines, and whether these are isolated cases or indications of a wider risk to the global economy. Finally, the spotlight is on Lonza, a one-stop shop for drug development and manufacturing that the team has bought recently.

 

This podcast was recorded on 14 October 2025.

 

If during this podcast the team reference any terms you're unfamiliar with, please see our glossary www.rathbonesam.com/glossary-of-terms-and-faqs which will provide an explanation.

 

Rathbones multi-asset investing team:
David Coombs, Head of Multi-Asset Investments
Will McIntosh-Whyte, Fund Manager, Rathbone Greenbank Multi-Asset Portfolio funds and Rathbone Multi-Asset Portfolio funds
Hannah Kennedy, Portfolio Management Assistant – Multi Asset
Rahab Paracha, Sustainable Multi-Asset Investment Specialist
Emma Letheren, Multi-Asset Equity Research Analyst

 

 

About Rathbones:

Rathbones, a FTSE 250 listed company, provides individual investment and wealth management services for private clients, charities, trustees and professional partners. Rathbone Asset Management is a UK fund manager, offering equity and bond unit trusts and a multi-asset fund range to meet your capital growth and income requirements. Rathbone Asset Management Limited is a wholly-owned, London-based subsidiary of Rathbones Group plc.


This podcast is intended for retail and professional investors. Any views and opinions are those of the investment manager, and coverage of any assets held must be taken in context of the constitution of the fund and in no way reﬂect an investment recommendation. Past performance should not be seen as an indication of future performance. The value of investments and the income from them may go down as well as up and you may not get back your original investment. This podcast has been produced for information purposes only and isn’t intended to constitute financial advice. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording; Investments referred to may not be suitable for all recipients. Any mention of a specific security should not be interpreted as a solicitation to buy or sell a specific security. Rathbone Asset Management Limited is authorised and regulated by the Financial Conduct Authority. A member of the Investment Association. A member of the Rathbones Group. Registered office: 30 Gresham Street, London, EC2V 7QN. Registered in England No. 02376568.

Collateral Damage

We don’t have all the answers, but we have plenty of opinions. Discover the latest news and views from the Rathbone multi-asset investing team. The Sharpe End lets you be a fly on the wall for frank and informal conversations the team are having on the desk about recent events and how they impact their funds. Follow their other musings at https://info.rathbonefunds.com/rathbone-multi-asset-portfolios/p/1

Collateral Damage

The Sharpe End

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