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Multi-Asset Value Investing

Investment Approach

Seneca Investment Managers is a fund management company specialising in multi-asset investing. This form of investing combines traditional securities, such as equities and bonds, with non-traditional approaches, such as specialist investments* to deliver specific outcomes.

Our investment approach differs in that we make decisions using a value investing ethos. We believe this approach makes it easier to achieve investor objectives and offers the prospect of superior long term returns and avoidance of permanent loss of capital.

The bible of value investing is Security Analysis, written by Benjamin Graham and David Dodd and published in 1934. They set out a framework for assessing the intrinsic value of stocks, then proposed that investors should only buy stocks below their intrinsic value.

At Seneca IM we use these principles to assess different asset classes, select stocks and when picking third party funds, to choose managers who employ value investing techniques. Our value investing approach means that our funds are actively managed and different, both from common benchmarks and from the competition.

Successful active management involves finding patterns in financial assets and taking advantage of them. Performing well for our investors is about finding value in multi-asset investing and making better decisions than other investors.

*Property, private equity, specialist financial and infrastructure.

Investment Team

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Peter Elston

Chief Investment Officer, Asset allocation research

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Peter Elston

Chief Investment Officer, Asset allocation research


Peter’s research responsibility for Seneca IM is asset allocation. Having joined the team as global investment strategist in November 2014, Peter was appointed chief investment officer in April 2015. Peter has previously worked in investment roles at Mercury and Aberdeen, largely based in Asia.

Peter graduated in Oriental Studies from Trinity College, Cambridge in 1988. He enjoys running, photography and science.

 


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Tom Delic

Overseas equity and bond fund research (emerging markets)

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Tom Delic

Overseas equity and bond fund research (emerging markets)


Tom is responsible for our third party fund selection alongside Gary Moglione. He has worked in the investment industry since 2009 after graduating from the University of Liverpool with a first class degree in Mathematics with Finance. After beginning his career as an investment analyst for Royal Liver Asset Managers, he later joined Seneca IM in October 2011.

During his spare time, Tom can be found spending time with his daughter, at the gym or attending Stoke City FC games.


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Gary Moglione

Overseas equity and bond fund research (developed markets)

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Gary Moglione

Overseas equity and bond fund research (developed markets)


Gary joined Seneca in April 2018 and is responsible for our third party fund selection alongside Tom Delic. He has worked in the investment industry since 1999 with a major portion of this specialising in fund selection both on a fund of funds and a multi-manager basis. He has previously worked as a fund manager for Royal Liver Asset Management where he managed two of their multi-manager funds (UK Equity and Global Equity). He then joined the multi-asset team at Pioneer Investment Management (later to be taken over by Amundi Asset Management) to manage equity assets in their funds of fund range.

Outside of the office, Gary enjoys travelling, spending time with his family and watching Liverpool FC.


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Richard Parfect

Specialist assets research

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Richard Parfect

Specialist assets research


Richard applies our value driven approach to his specific focus on specialist assets for Seneca IM.  Richard is a Fellow of the CISI and was a founder of Seneca IM in 2002. He previously worked as a UK equity analyst at Merseyside Pension Fund and started his career at Neilson Cobbold.

Richard holds a commercial pilot’s license and is a qualified instructor. He competes in triathlons and enjoys time with his family.


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Mark Wright

UK equity research

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Mark Wright

UK equity research


Mark is responsible for UK equity research across Seneca IM’s investment mandates. He began his career at Seneca IM after graduating from University of York with a BSc degree in Economics.

Mark is a CFA Charter holder and an accredited member of the CFA Institute. He likes to escape to the gym, regularly plays football and wishes he could be more frequently found in the Isles of Scilly or Jersey.


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Gabby Byron

Investment Services Executive

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Gabby Byron

Investment Services Executive


Gabby joined Seneca in October 2019 with over 4 years’ experience in the investment industry. Upon successful completion of a Business Administration Apprenticeship, she then studied towards and completed the CISI Investment Operations Certificate and Investment Advice Diploma. In her previous role at Quilter Cheviot, Gabby worked as a Trainee Investment Manager assisting in the management of portfolios for private clients, charities and trusts.

In her spare time, she enjoys reading, travelling and spending time with her friends and family.


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