MARGARET LAWSON IN FOCUS: LONDON STOCK EXCHANGE

The London Stock Exchange is worth buying right now. It has transformed itself every decade and is building up its use of data, which underpins the entire industry. It has bought the former Reuters business

Refinitiv, a financial data provider, which will make it a more global company and give it good growth over the next five years, although the deal still needs to be approved by different authorities.

One of my worst picks recently has been Indivior, a drugs company that helps people overcome drug addictions – a huge problem in America. It makes tablets and films, but these were becoming generic, so it developed once-a-month injections.

There has been a judgment against the company for mis-selling and it could be fined up to £3bn. It doesn’t have the money to pay the fine, but the court may be lenient or it could negotiate a new settlement.

The share price tanked from 400p to 30p. I’ve not sold it because the outcome is still unclear.

DO YOU INVEST IN THE FUND AND HOW ARE YOU PAID?

I have about £400,000 in the fund and all my family are invested too. I feel if I am not confident enough and can’t invest in my own fund, then no one else should be. I have shares in the management company and am paid a standard salary, although it is nowhere near what most other fund management companies pay.

WHAT WOULD YOU BE IF NOT A FUND MANAGER?

I took up piano lessons when I was 47 and am now at grade six. It is harder to learn when you are older. I would have loved to be a pianist.