Money Makers

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Andrew McHattie, editor of the Investment Trust Newsletter, and Tom Poynton, a director at Baron & Grant. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:39 - Review of the week 01:38 - This week's guest 01:51 - Next week's podcast 03:26 - Money Makers Circle 04:10 - Q&A with Andrew McHattie and Tom Poynton 04:53 - The markets overall 08:55 - Positioning for lower interest rates in 2024 13:43 - Activist investors 16:36 - Renewable infrastructure trusts 26:28 - Hipgnosis Songs Fund 33:18 - Home REIT (HOME) 38:24 - Commercial property 44:17 - Looking back at the year 53:35 - Thank you and Merry Christmas 54:02 - Close Trusts mentioned this week (with tickers): Pershing Square Holdings (PSH), Brunner Investment Trust (BUT), Tritax Big Box (BBOX), Bluefield Solar Income (BSIF), Octo

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Anthony Leatham, head of investment trust research at Peel Hunt, and Will Fraser-Allen, managing partner of Albion Capital and chairman of the Venture Capital Association. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:39 - Review of the week 0:03:00 - This week's guests 0:03:40 - Money Makers Circle 0:04:11 - Corporate news and announcements 0:06:47 - Summary of results 0:09:13 - The Investment Trusts Handbook 2024 0:11:10 - Q&A with Anthony Leatham 0:11:44 - Looking at the week 0:16:41 - The cost disclosure issue 0:22:58 - Share buy backs 0:29:14 - Battery storage trusts 0:32:14 - Digital infrastructure 0:35:49 - Consolidation 0:39:23 - Q&A with Will Fraser-Allen 0:40:05 - A look at what VCTs do 0:43:36 - Regulations around VCTs 0:46:30 - The outlook for VCT fundraising 0

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to James Carthew, director of QuotedData, and Baroness Ros Altmann CBE about her recent Private Members Bill to address the cost disclosure issue in investment trusts. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:39 - This week's guests 01:21 - Money Makers Circle 02:10 - Review of the week 04:56 - Summary of results 06:08 - The Investment Trusts Handbook 2024 07:30 - Q&A with James Carthew 07:39 - Market developments 10:36 - Discussing individual trusts 27:40 - Selected results this week 32:49 - Prospects for a continuing Santa Rally 35:08 - Q&A with Baroness Altmann CBE 35:27 - The Private Members' Bill 39:32 - What happens next? 45:27 - Timescale for a resolution 47:53 - Views of the AIC 50:23 - Transparency and accuracy in disclosure 57:40 - Impact of cost disclosure on de

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Andrew McHattie, editor of the Investment Trusts Newsletter and Charles Luke, manager of the Murray Income Trust (MUT). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:01:02 - Money Makers Circle 0:01:35 - Investment Trusts Handbook 2024 0:02:41 - This week's guests 0:03:50 - Review of the week 0:06:03 - Q&A with Andrew McHattie 0:06:27 - The sector and the markets overall 0:12:12 - Proposed mergers 0:19:27 - Other trusts in the news 0:35:38 - Continuation votes 0:44:43 - The continuing theme of continuation votes, mergers, etc. 0:47:15 - Q&A with Charles Luke 0:47:56 - The UK equity market 0:50:01 - The catalyst for change in the UK market 0:51:51 - How Murray Income differs from others in the sector 0:54:50 - The impact of ESG on performance 0:57:42 - The portfolio 1:01:12

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Emma Bird, head of research at Winterflood Securities, John Evans, chairman at J.P.Morgan Mid-Cap (JMF), and Andrew Impey, chairman at J.P.Morgan UK Smaller Companies (JMI). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:39 - Review of the week 0:03:36 - This week's guests 0:04:26 - Money Makers Circle 0:05:13 - Corporate news and announcements 0:11:35 - Summary of results 0:16:14 - Q&A with Emma Bird 0:16:32 - A turning point in the investment trust cycle? 0:22:01 - The Autumn Statement 0:23:02 - Interesting trusts 0:26:51 - The property sector 0:32:43 - Trusts' performance 0:38:26 - The sector as a whole and yields 0:40:53 - Q&A with John Evans and Andrew Impey. 0:41:54 - Origins of the merger proposal 0:46:28 - Why have the small cap trust as the continuing vehicle 0:49:5

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Ewan Lovett-Turner, head of research at Deutsche Numis (formerly Numis Securities). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:39 - This week's guest 01:38 - Money Makers Circle 03:13 - Review of the week 04:56 - Corporate news and announcements 10:18 - Summary of results 12:26 - Q&A with Ewan Lovett-Turner 14:16 - Are buyers returning to the market? 15:44 - The economic and sector outlook 17:18 - Cost disclosure 23:43 - The alternatives sector 29:01 - Consolidation 33:13 - Continuation votes 35:51 - Capital Gearing Trust (CGT) 38:25 - Hedge Funds 40:50 - Close Trusts mentioned this week (with tickers): Baillie Gifford Japan (BGFD), BH Macro (BHMG), JPMorgan UK Smaller Companies (JMI), JPMorgan Mid Cap (JMF), European Opportunities Trust (EOT), BlackRock Smaller Companies (

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Ben Guest, manager of Gresham House Energy Storage (GRID), and Guy Anderson, manager of the Mercantile Investment Trust (MRC). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:39 - This week's guests 0:02:11 - Review of the week 0:04:53 - Corporate news and announcements 0:12:03 - Summary of results 0:17:23 - Money Makers Circle 0:17:50 - Q&A with Ben Guest 0:18:00 - Reasons behind share price declines 0:19:23 - Battery energy storage 0:23:18 - Setting prices 0:28:09 - The outlook for power prices and volatility 0:30:05 - The dividend 0:35:09 - The discount rate 0:36:50 - International diversification 0:43:32 - Changes from the original prospectus 0:45:17 - Q&A with Guy Anderson 0:45:29 - Improvements in the UK market 0:48:56 - Political risk 0:54:22 - How the trust fits i

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Nick Greenwood, manager of the MIGO Opportunities Trust (MIGO). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:39 - Review of the week 04:53 - This week's guest 05:44 - Corporate news and announcements 16:51 - Summary of results 19:44 - Money Makers Circle 21:02 - Q&A with Nick Greenwood 21:09 - The most recent developments in the markets 22:25 - The alternatives sector 29:13 - The property sector 30:34 - Private equity 34:31 - Early stage high risk investment trusts 38:18 - Looking at successes 44:23 - Future direction of MIGO 47:17 - Close Trusts mentioned this week (with tickers): Urban Logistics REIT (SHED), Chrysalis (CHRY), Target Healthcare REIT (THRL), Digital 9 Infrastructure (DGI9), Tritax Big Box (BBOX), TR Property (TRY), Seraphim Space Investment Trust (SSIT), RTW Bio

In this week's extended edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Andrew McHattie, editor of the Investment Trusts Newsletter. You can also hear the final five short interviews from this year's AIC Investment Trust Showcase event. The first four of this series of nine interviews were featured in last week's podcast and the bonus edition released last Tuesday. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:39 - This week's guests 0:01:53 - Review of the week 0:04:18 - Summary of results 0:06:56 - Money Makers Circle 0:07:26 - Q&A with Andrew McHattie 0:07:31 - Looking at the markets 0:12:13 - Hipgnosis Songs Fund (SONG) 0:19:09 - European Opportunities Trust (EOT) 0:25:50 - Digital 9 Infrastructure (DGI9) 0:31:28 - Greencoat UK Wind (UKW) 0:37:31 - Abrdn Diversified Income and Growth (ADIG) 0:41:57 - Pershing Square Holdings (PSH) 0:4

In this bonus edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Rhys Davis (Invesco Bond Income Plus; BIPS), Phil Kent (GCP Infrastructure; GCP), and Simon Gergel (Merchants Trust; MRCH), all of who were at the recent AIC Investment Trusts Showcase event in London. A further series of conversations will feature as part of the next regular edition of the podcast, due for release on Saturday 28 October. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:39 - Introducing three guests 02:07 - Rhys Davies (Invesco Bond Income Plus Trust; BIPS) 07:49 - Phil Kent (GCP Infrastructure; GCP) 14:16 - Simon Gergel (Merchants Trust; MRCH) 20:04 - 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 subscripti

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Gaurav Narain, investment advisor at India Capital Growth Trust (IGC) and John Baron, columnist for the Investors' Chronicle. Jonathan attended this year's AIC Investment Trust Showcase and had the opportunity to speak to a number of fund managers. A bonus podcast will be released next week featuring a number of these short chats. Make sure you're subscribed to be alerted when that is released! We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:44 - Review of the week 02:41 - This week's guest 03:51 - News and announcements 17:45 - Summary of results 18:52 - Money Makers Circle 19:36 - A nice story 20:48 - Q&A with Gaurav Narain 21:28 - The macro picture for India 28:46 - The trust's strategy and portfolio 34:58 - The outlook for the trust 40:12 - Q&A with John Baron 41:02 - Advice to priva

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to James Cook, fund manager at J.P. Morgan Global Growth and Income (JGGI) and Chris Clothier, co-CIO at CG Asset Management and a manager at Capital Gearing Trust (CGT). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:44 - Review of the week 0:03:57 - Money Makers Circle 0:04:29 - This week's guests 0:04:57 - Corporate news and announcements 0:10:17 - Summary of results 0:16:01 - Q&A with James Cook 0:17:38 - Sustaining outperformance 0:20:55 - Enhanced income approach 0:22:29 - The outlook for the global economy 0:27:22 - The valuation spread 0:29:29 - The US 'Super Seven' 0:33:01 - The UK market 0:35:39 - The outlook from here 0:37:41 - Q&A with Chris Clothier 0:37:50 - The bond market 0:40:44 - Holding US and UK index linked bonds 0:43:21 - Risk assets 0:44:34 - The impact

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Peter Hewitt, manager of the CT Global Managed Portfolio Trust (CMPI/CMPG), and Matt Hose, alternative assets analyst at Jeffries. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:44 - Review of the week 0:04:39 - This week's guest 0:05:09 - Money Makers Circle 0:05:43 - Corporate news and announcements 0:10:13 - Summary of results 0:16:23 - Q&A with Peter Hewitt 0:16:50 - General developments in the markets 0:20:07 - Is the bond market normally right? 0:23:25 - The portfolio and its themes 0:39:49 - The income class 0:40:37 - Consolidation 0:41:49 - Scotland in the Rugby World Cup 0:39:01 - Q&A with Matt Hose 0:39:09 - Bond market fallout 0:43:52 - Private equity sector 0:48:03 - Infrastructure trusts 0:50:09 - Renewables trusts 0:53:16 - Hipgnosis Songs Fund (SONG) 0:57:

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Joe Bauernfreund, manager of the AVI Global Trust (AGT), and Evy Hambro, manager of the BlackRock World Mining Trust (BRWM). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:44 - This week's guests 01:34 - Review of the week 03:27 - Money Makers Circle 04:03 - Corporate news and announcements 12:28 - Summary of results 21:20 - Q&A with Joe Bauernfreund 21:20 - Adding to holdings in the UK investment trust sector 26:03 - Enforced cost disclosures 26:47 - Reducing holdings in PSH and TPOU 30:17 - Increasing exposure to the investment trust universe 31:38 - AVI Global Trust (AGT) and discounts 34:54 - Q&A with Evy Hambro 34:54 - The commodities sector this year 38:42 - Industry changes over thirty years 40:45 - Valuations over the last year 44:02 - Incentives on commodity producers f

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, is away in Europe. So, Stuart Watson is stepping in to provide a summary of the week's news and results. Jonathan did get a chance over the last week however, to speak to Colette Ord, infrastructure analysis at Numis Securities, and to conclude his conversation with Ben Conway, head of fund management at Hawksmoor Investment Management. That conversation follows on from their discussion a couple of weeks ago. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:44 - This week's guests 0:01:39 - Review of the week 0:02:38 - Corporate news and announcements 0:04:35 - Summary of results 0:13:04 - Money Makers Circle 0:13:25 - Q&A with Colette Ord 0:13:32 - Stabilisation of interest rates and the effect on derating 0:17:53 - Will a revival reward some trusts more than others? 0:21:54 - The lack of new compet

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to Tom Poynton, executive director at Baron & Grant, and Dale Nicholls, manager at Fidelity China Special Situations (FCSS). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:44 - Review of the week 02:45 - This week's guests 03:25 - Corporate news and announcements 07:57 - Money Makers Circle 08:31 - Summary of results 13:28 - Q&A with Tom Poynton 13:38 - Hipgnosis Songs Fund (SONG) 19:46 - Private equity announcements 25:15 - Early stage venture capital trusts 30:00 - The renewables sector 33:39 - Outlook for discounts 36:04 - Cricket! 40:35 - Q&A with Dale Nicholls 40:50 - Disappointment for Chinese investment returns 42:03 - The property crisis 43:59 - Lessons from regulatory interventions 45:12 - The impact of geopolitical tensions on investment flows 46:47 - The attractivenes

In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to Ben Rogoff, manager of the Polar Capital Technology Trust (PCT). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 01:00 - This week's guest 01:41 - Money Makers Circle 02:08 - Review of the week 06:16 - Corporate news and announcements 14:30 - Summary of results 16:21 - Q&A with Ben Rogoff 19:05 - What is generative AI? 23:49 - The expansion and use of AI capabilities 33:28 - Comparing to previous tech innovations 38:27 - What could derail AI? 41:28 - Fields that could be transformed 44:11 - A new lens by which to judge investments 47:27 - Close Trusts mentioned this week (with tickers): Round Hill Music Royalty Fund (RHM), Hipgnosis Songs Fund (SONG), Ecofin US Renewables (RNEW), US Solar Fund (USF), International Public Partnerships (INPP), GCP Infrastructure (GCP), RM Infrastructure In

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to Andrew McHattie, editor of the Investment Trusts Newsletter, and Ben Conway, Head of Fund Management at Hawksmoor Investment Management. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:44 - This week's guests 0:01:21 - Review of the week 0:03:19 - Corporate news 0:04:53 - Summary of results 0:07:10 - Summary of announcements 0:07:28 - Money Makers Circle 0:12:35 - Q&A with Andrew McHattie 0:12:44 - Happenings in the sector over the last couple of months 0:14:17 - Coping with the derating period 0:16:21 - Infrastructure and private equity rerating 0:18:40 - The danger of missing out in a derating cycle 0:20:33 - Potential direction of travel 0:22:45 - Literacy Capital (BOOK) and HG Capital (HGT) 0:27:04 - Biopharma Credit (BPCR) 0:29:17 - Other names of interest 0:32:13 - The ret

In this bonus edition of the Weekly Investment Trust Podcast, Jonathan Davis, talks to Rhys Davies, manager of the Invesco Bond Income Plus Investment Trust (BIPS). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:45 - The last eighteen months in the bond markets 02:45 - Has the interest rate and bond yield cycle peaked? 04:57 - Explaining a soft landing 07:05 - Portfolio yield and potential total return 09:38 - Assessing high yield bonds 14:07 - Managing a bond portfolio 19:24 - The regional split between the UK and Europe 22:48 - Investing in high yield through an investment trust 25:48 - Discount control policy 27:37 - The investment trust sector as a whole 30:43 - Biggest risks we face 32:42 - Close You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. O

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to Max King, the market and investment trust commentator and former Investec fund manager. Jonathan also talks to Rhys Davies, manager of the Invesco Bond Income Plus Investment Trust (BIPS); the first half of that discussion can be heard in the podcast, with the full interview available on the website or via podcast channels. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 00:44 - Review of the week 04:58 - This week's guest 05:38 - Money Makers Circle 06:24 - Corporate announcements and results 16:34 - Q&A with Max King 17:09 - The markets at the moment 19:01 - Abrdn mergers 20:29 - Global Absolute Return Strategies Fund (GARS) 21:20 - Regulation and trust reports 23:01 - Private equity sector 27:14 - Commercial property sector 30:19 - Alternatives sector 32:02 - Equity sector 34:20 -