Clear thinking investment management
Lightman is an independent investment management company based in London. We are dedicated to European equities.
We combine a deep historical perspective of stock market returns with modern quantitative techniques. Our investment principles are rooted in empirical research. Rather than rely on theory, we focus on investment characteristics that have been proven to work with the highest consistency over the longest time frames.
We aim to provide high levels of customer service with a transparent charging structure and clear communication.
The Team
Rob Burnett
Fund Manager
Rob managed the Neptune European Opportunities Fund from 2005 to 2018. He was also head of analysis of the global financials sector, specialising in researching banks. Prior to running the European Opportunities Fund he managed the Neptune Japan Opportunities Fund. He studied Politics, Philosophy and Economics at Oxford.
Luis Barreiro
Investment Analyst
Luis began his professional career in 2005 working in the equities division of Credit Suisse in London. In 2008 he decided to return to his native Madrid where he continued to work in equities shifting his focus from fundamentals to quantitative analysis of markets. He has focused purely on quantitative analysis since 2012. Luis graduated with a degree in Business Administration with a specialisation in Finance at CUNEF University.
Sumit Mittal CFA, FRM
Investment Analyst and COO
Sumit worked at the Financial Conduct Authority from 2013 to 2017 as a Technical Specialist within Investment Management. Prior to his regulatory work he worked as an Investment Analyst for First Climate. He is a CFA charter holder, and has completed the Financial Risk Manager programme. Sumit also holds an MBA, completing his programme at the Saïd Business School, Oxford. He has a degree in Mechanical Engineering from the National Institute of Technology, Warangal.
Phil Horton
Sales Director
Phil spent 9 years working alongside Rob, managing a range of clients at Neptune Investment Management. He initially looked after nationals and networks, before moving into discretionary sales covering London and the South East, taking on the position of Head of Discretionary Sales. He holds the IMC and Certificate in Securities.
The Fund
The LF Lightman European Fund is a concentrated, high conviction portfolio of 40-50 European equities.
Our team implement a unique and disciplined investment philosophy and process that is backed by a century of historical perspective of the drivers of stock market returns.
We favour companies with the following characteristics:
- High free cash flow as a proportion of market value
- Low price to book and price to earnings ratios
- Positive operational momentum, where an acceleration in free cash flow is imminent
- Mature industries where incremental investment rates are low
Our investment philosophy and process leads to portfolios that tend to have a contrarian edge, providing differentiation from the peer group and the benchmark, supporting diversification
The fund launched on the 29th March 2019 with a two day offer period.