Money Makers

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Nick Train, manager of Finsbury Growth and Income Trust (FGT). This discussion was recorded on Wednesday 19 February 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you can read on a PC, tablet or smartphone. Available to order from

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Alan Gauld, lead manager at Patria Private Equity Trust (PPET). This discussion was recorded on 04 February 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you can read on a PC, tablet or smartphone. Available to order from Harriman

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Matt Hose, alternative assets analyst at Jeffries. This discussion was recorded on 06 February 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you can read on a PC, tablet or smartphone. Available to order from Harriman House (https

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Jonathan Simpson-Dent, chairman of Edinburgh Worldwide (EWI), one of the seven trusts targeted by Saba Capital. This discussion was recorded on 04 February 2025, edited on 05 February 2025, after all five of the seven trusts to hold meetings so far voted conclusively to reject Saba's propositions. The vote for EWI will be the last of the seven and is due to be held on 14 February. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plu

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Peter Hewitt, manager of the CT Global Managed Portfolio Trust (CMPI/CMPG). This discussion was recorded on 24 January 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you can read on a PC, tablet or smartphone. Available to order fr

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Boaz Weinstein, CIO and founder of Saba Capital. This discussion was recorded on 21 January 2025, the day before the first of the seven Saba-requisitioned meeting votes, the one at Herald Investment Trust (HRI), which Weinstein failed to win. There is plenty of interesting new detail on his campaign tactics and objectives in this near one hour long conversation. Subscribers to the Money Makers newsletter will see a transcript in due course. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with revie

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Andrew McHattie, editor of the Investment Trusts Newsletter, and Ewan Lovett-Turner, head of investment trust research at Deutsche Numis. This discussion was recorded on 17 January 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Sue Inglis, senior Independent director at Baillie Gifford US Growth (USA). This discussion was recorded on 13 January 2025, before Boaz Weinstein's Saba Capital webinar on 14 January. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you c

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Richard Stone, chief executive of The Association of Investment Companies (The AIC). This discussion was recorded on 10 January 2025, before Boaz Weinstein's Saba Capital webinar on 14 January. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book vers

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined first by Karen Brade, chair of Keystone Positive Change, and Ben Conway, head of fund management and chief investment officer at Hawksmoor Investment Management, to discuss the recent developments with Saba Capital. These discussions were recorded on 09 January 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone lo

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Gavin Lumsden, reporter on investment trusts at Citywire, who recently announced his intention to take a step back. This discussion was recorded on Monday 16 December 2024. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you can read on a

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Friday 13 December 2024. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. The Handbook is an indispensable companion for anyone looking to invest in investment trusts. There is also a free e-book version you can read on a PC, tablet or smartphone. Available to order from Harri

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Marcus Phayre-Mudge, manager of TR Property (TRY). This discussion was recorded on 06 December 2024. Section Timestamps: 0:00:24 - Introduction 0:00:39 - Recent results for TR Property 0:05:20 - Valuations 0:10:21 - M&A and corporate activity 0:27:40 - A short break 0:28:36 - Sustainability of discounts 0:33:28 - Physical exposure of TR Property 0:39:42 - The trust’s dividend 0:42:56 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. This week, as well as the usual features, the Ci

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Ryan Lightfoot-Aminoff, investment trust research analyst at Kepler Partners. This discussion was recorded on 03 December 2024. Section Timestamps: 0:00:24 - Introduction 0:00:33 - Enhanced dividend policies 0:07:27 - Cost disclosure 0:14:59 - A short break 0:15:54 - The result of the US election 0:23:21 - The impact of US tariffs on Asia 0:25:39 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. This week, as well as the usual features, the Circle features a profile of Baillie Gi

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Peter Hewitt, manager of the CT Global Managed Portfolio Trust (CMPI/CMPG). This discussion was recorded on 29 November 2024. Section Timestamps: 0:00:24 - Introduction 0:00:40 - Looking back over the past few weeks 0:10:42 - Cost disclosure reform 0:13:36 - Private equity trusts 0:18:14 - A short break 0:19:10 - Growth capital sector 0:22:32 - UK small cap 0:24:10 - UK equity sector 0:26:06 - Portfolio changes 0:28:16 - Outlook for 2025 0:34:30 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the edit

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Elisabeth Stheeman, Chair of Edinburgh Investment Trust. This discussion was recorded on 07 November 2024. Section Timestamps: 0:00:24 - Introduction 0:01:00 - The route to becoming an investment trust director 0:02:28 - Impressions of investment trust boards 0:04:59 - The change of manager at Edinburgh Investment Trust 0:20:10 - A short break 0:21:05 - Edinburgh Investment Trust today 0:24:10 - The trust’s discount and share buy backs 0:28:56 - Gearing policies 0:32:09 - Feelings about the current position in the market cycle 0:34:38 - The UK equity income sector, consolidation, and differentiation 0:40:58 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest month

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Gaurav Narain, lead manager at India Capital Growth Fund (IGC). This discussion was recorded on Monday 18 November 2024. Section Timestamps: 0:00:24 - Introduction 0:00:44 - The Indian economy since Modi’s re-election 0:03:06 - Implications from the US election result 0:04:12 - The bigger picture in India 0:06:12 - The interplay between the Indian and Chinese equity markets 0:11:12 - A short break 0:12:07 - Discussing the trust 0:14:18 - Debt, the portfolio criteria, and gearing 0:16:34 - A threat from passive funds? 0:18:52 - Retail investor sensitivity to volatility 0:20:04 - The size of the trust 0:21:04 - The change of ownership 0:22:45 - Why choose India Capital Growth? 0:25:24 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme tha

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Friday 15 November 2024. Section Timestamps: 0:00:23 - Introduction 0:00:44 - Market reactions to big events of the past few weeks 0:05:22 - Scottish Mortgage Trust (SMT) 0:09:02 - Fidelity Special Values (FSV) 0:12:43 - 3i Infrastructure (3IN) 0:14:54 - Henderson Far East Income (HFEL) 0:18:19 - A short break 0:19:14 - Weiss Korea Opportunity Fund (WKOF) 0:20:51 - The collapse of HH2E, and the renewable energy sector 0:26:08 - J.P.Morgan Core Real Assets (JARA) 0:29:07 - GCP Asset Backed Income (GABI) / Blackstone Loan Financing (BGLF) 0:32:28 - Tritax Eurobox (EBOX) and consolidation in commercial property 0:34:29 - Baillie Gifford China Growth (BGCG) and the China trusts 0:39:37 - Close If you enjoy the weekly podcast,

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Jack Caffrey, co-portfolio manager at J.P.Morgan American Investment Trust (JAM). Section Timestamps: 0:00:24 - Introduction 0:00:54 - Reaction to the US election result 0:04:08 - The resilience of the US market 0:06:53 - Value as a style 0:09:03 - Tariffs 0:11:47 - The strength of the dollar 0:14:04 - A short break 0:15:00 - Risks from a changing Fed chairperson 0:16:45 - Thoughts on Tesla and Nvidia 0:20:52 - Berkshire Hathaway and Buffet’s decision to sell Apple 0:22:59 - The approach to portfolio management 0:24:45 - Sustainability of the annualised total return 0:26:30 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receiv

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Martin Gilbert, original founder of Aberdeen Asset Management, and current chairman of AssetCo. Section Timestamps: 0:00:24 - Introduction 0:00:41 - An end in sight to the tough period of the last few years? 0:02:21 - Discounts and share buy backs 0:03:55 - The use of gearing 0:04:53 - Will consolidation continue? 0:07:18 - Being an active fund manager today 0:09:30 - Does an Asian investment trust still make sense? 0:12:12 - A short break 0:13:07 - The experience so far with AssetCo 0:14:48 - Developing AssetCo 0:18:15 - Is private a better model? 0:20:41 - Attracting private investors 0:21:50 - A time for optimism or pessimism 0:23:18 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity,