Citywire AAA-rated David Walton talks to Citywire about why he’s backing Ipsos

Citywire AAA-rated David Walton, Manager of our European Special Situations fund, has talked to Citywire about the investment case for French market research company Ipsos, which is one of his top-ten positions.

David says he likes the culture of Ipsos, which has enabled the company to successfully integrate a series of acquired businesses, and he is impressed with its heavy investment in digital market research products, such as digital market research panels. This is to protect the company’s competitive position and help it to maintain an edge over new entrants to the industry.

Free cashflow generation has been consistently strong, he says. Even in 2020, when billions of people were restricted by COVID lockdowns, Ipsos still managed to generate €330m of free cashflow. David says he sees this as a sign of a robust and resilient business.

In addition, he believes Ipsos is making a positive contribution to society’s progress on two fronts. Firstly, the company produces a significant amount of research about the strength of public opinion on this topic and focusing on what organisations are doing to support sustainability. Secondly, Ipsos devotes considerable time and resources to living up to its own responsibilities on sustainability.

21/11/22

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