Director talk: Mark Bridgeman

In the boardroom

How would you explain your role to somebody who was new to investment trusts?

As a director, our role is to represent the shareholders of the company, be they large institutional shareholders or retail investors. The objectives of the company are set out at the time of the IPO and as directors we need to make sure it delivers those objectives. We work with the investment managers but importantly we do not work for them, we hold them to account as we identify what is in the best interest of shareholders.

What’s the number one skill you bring to the board?

Board meetings of listed companies involve a lot of different elements of corporate governance. The risk, as a company director, is getting caught up in the finer details. I see my most important skill as being able to step back and understand the big picture, and whether the company is delivering what it has promised. If not, why not? With listed investment trusts, there are normally two or three critical issues the board needs to focus on at any one time.

What is the proudest moment of your career?

In my time at Schroders, before I got involved in investment trusts, I was responsible for global equity research. I put in place global sector specialists to help improve the research capabilities of the firm. That structure has proved a success and is still being used today.

What’s the most challenging part of your job as a trust director?  

As an investment trust director, you spend a lot of time working with the investment managers. It is important that this is a constructive relationship, but at times you have to challenge them and make decisions that they may not like. Clarity in decision making and clear explanations are therefore crucial.

What advice would you offer to new directors?

It is very important that you understand the investment process of the investment team running the trust. It is normal for investment teams to go through periods of underperformance, as well as outperformance. It is critical to understand why performance is what it is, and to be able to identify when the manager is straying away from their stated process.

Away from work

What’s your number one desert island disc?

Coldplay greatest hits – I have just been to the Coldplay concert at Wembley, with my wife and children, and it was a fabulous feelgood experience. The most spectacular show I have ever been to.

Of all the places you have visited on your travels, which comes top of the list and why?

The Okavango Delta in Botswana – I have been lucky enough to spend a lot of time in Africa over many years, both for work and pleasure. I love being out in the bush, close to wildlife and away from human interference, and the Okavango is unique with its spectacular wildlife, birds and floodplains.

What food couldn’t you live without

Fresh bread with lots of butter – whether it is a fancy restaurant or a snack in the kitchen at home, with some marmite, when I am hungry.

What are you terrible at?  

I wish it wasn’t the case but I have always been hopeless at languages.

What is a hidden talent that few people know you have?

In my teens I spent a huge amount of time doing joinery and cabinet making. One day, when I retire and have more time, I would like to take it up again.

What do you do for fun?

I love lots of different sports and really enjoy playing with my family, whether it’s tennis, golf or skiing. I also get great pleasure walking with my dogs and enjoying the countryside at home.