Why does Calpe invest only in British companies and not overseas ? A question I was asked this week and one that surprised me for we are major overseas investors but not directly. We invest in UK companies which have extensive interests in other countries – this way we benefit from the detailed knowledge of their management in operating in different markets, while at the same time being able to invest relatively cheaply at minimum risk in companies subject to English law and Stock Exchange financial controls.
Among our investment portfolio we have Intercontinental Hotels with some 4500 hotels in 50 countries, Compass group providing contract catering and services in over 50 countries, TaylorWimpey building houses in Spain, Aviva Insurance with major operations in Europe, Poland, Turkey, China and Asia. These holdings reflect the extent of different trading operations and currencies worldwide and what we consider to be sound long term investments.
To invest directly in foreign companies direct on foreign Stock Exchanges is best left to the large investment groups which have specialised funds.