Money Makers

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Sebastian Lyon, manager of the Personal Assets Trust (PNL), and CEO of Troy Asset Management. During their discussion, Jonathan and Sebastian remember the former director of Personal Assets Trust, Robin Angus, who sadly died earlier this year, and they talk about the anthology of his quarterly summaries that have been released as a book, A Shared Journey. This book is available for free as a PDF download: https://www.patplc.co.uk/wp-content/uploads/sites/2/2022/12/1941-PAT-Quarterlies-Anthology-Book.pdf Section Timestamps: 00:24 - Introducing Sebastian Lyon 01:51 - The year in historical context 04:53 - Has the investment game changed? 08:32 - Locking in a loss of wealth 10:23 - Looking at the stock market 14:34 - The problems faced by central banks 17:38 - Could we return to a Goldilocks scenario? 21:27 - Personal Assets Trust (PNL) and other funds 23:50 - Would

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Peter Hewitt, manager of the CT Global Managed Portfolio Trust (CPMG/CPMI). Trusts mentioned this week (with tickers) include: Majadie Investment Trust (MAJE), JPMorgan Indian Investment Trust (JII), Ecofin Global Utilities and Infrastructure Trust (EGL), Aberdeen Diversified Income and Growth (ADIG), Chenavari Toro Income Fund (TORO), Artemis Alpha (ATS), MIGO Opportunities Trust (MIGO), Atlantis Japan Growth (AJGF), Civitas Social Housing (CSH), Triple Point Social Housing (SOHO), VPC Speciality Lending (VSL), NB Global Monthly Income (NBMI), TwentyFour Income Fund (TFIF), Biopharma Credit (BPCR), GCP Asset Backed Income (GABI), Home REIT (HOME), Scottish Mortgage Investment Trust (SMT), HG Capital Trust (HGT), Fidelity Special Values (FSV), Law Debenture (LWDB), Finsbury Growth and Income (FGT), BH Macro (BHMG), Ruffer Investment Company (RICA), Personal Assets

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Nick Greenwood, manager of MIGO Global Opportunities Trust (MIGO). Trusts mentioned this week (with tickers) include: Global Smaller Companies Trust (GSCT), JPMorgan Asia Growth and Income (JAGI), JPMorgan China Growth and Income (JCGI), JPMorgan Japanese (JFJ), JPMorgan European Discovery (JEDT), Polar Capital Technology (PCT), Polar Capital Global Healthcare (PCGH), GCP Infrastructure (GCP), Gore Street Energy Storage (GSF), Foresight Sustainable Forestry (FSF), Custodian Property Income REIT (CREI), Ediston Property (EPIC), Doric Nimrod Air One/Two/Three (DNA, DNA2, DNA3), Pantheon Infrastructure (PINT), Sequoia Economic Infrastructure Income (SEQI), Octopus Renewables Infrastructure (ORIT), Alpha Real (ARTL), Dunedin Enterprise (DNE), Artemis Alpha (ATS), Strategic Equity Capital (SEC), River and Mercantile Micro Cap (RMMC), Miton UK Micro Cap (MINI), Downing S

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Alastair Laing, co-manager of Capital Gearing Trust. Trusts mentioned this week (with tickers) include: Civitas Social Housing (CSH), Home REIT (HOME), LXI REIT (LXI), Value and Indexed Property (VIP), Hipgnosis Songs Fund (SONG), Schroder UK Mid Cap Investment Trust (SCP), Finsbury Growth and Income (FGT), Monks (MNKS), Securities Trust of Scotland (STS), Templeton Emerging Markets (TEM), Barings Emerging EMEA Opportunities (BEE), BlackRock Frontiers Investment Trust (BRFI). Section Timestamps: 00:39 - The Investment Trusts Handbook 02:23 - Capital Gearing Trust 03:33 - Q&A with Alastair Laing 04:36 - The thinking behind CGT's defensive stance 07:53 - Any significant changes at CGT? 10:48 - What would it take to start thinking about increasing equity and risk asset exposure? 14:04 - Could the US avoid a recession? 16:18 - Inflation cannot be won in one

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Max King, columnist for MoneyWeek, and former fund manager at Investec Asset Management; and also previews a discussion with Ben Rogoff, manager of Polar Capital Technology (PCT) - available in full for subscribers to the Money Makers Circle. Trusts mentioned this week (with tickers) include: Digital 9 Infrastructure Trust (DGI9), US Solar Fund (USF), Home REIT (HOME), Keystone Positive Change (KPC), Baillie Gifford UK Growth (BGUK), Baillie Gifford European (BGEU), JPMorgan Emerging Markets (JMG), Mobius Investment Trust (MMIT), Fidelity Emerging Markets (FEML), Chrysalis (CHRY), Schiehallion (MNTN), Literacy Capital (BOOK), Tritax Big Box (BBOX), TR Property (TRY), Odyssean Investment Trust (OIT), JPMorgan Global Core Real Assets (JARA), Life Science REIT (LABS). Section Timestamps: 00:32 - The Investment Trusts Handbook 2023 01:16 - Q&A with Max King 01:22 -

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by James Carthew of QuotedData; and also previews a discussion with Carlos Hardenberg, the lead manager of the Mobius Investment Trust (MMIT) - available in full for subscribers to the Money Makers Circle. Trusts mentioned this week (with tickers) include: Home REIT (HOME), Digital 9 Infrastructure (DGI9), AT85 Global Mid-Market Infrastructure Income, JPMorgan Russian Securities (JRS/JEMA), Chrysalis Investments (CHRY), The Renewables Infrastructure Trust (TRIG), Long Term Assets, Convicton Life Sciences, NB Monthly Income (NBMI). Section Timestamps: 00:45 - Review of the week 02:42 - Money Makers Circle 04:15 - James Carthew 06:15 - Fundraising 12:29 - Corporate news 31:35 - Windfall Profits Tax on renewable energy 39:19 - Q&A with Carlos Hardenberg 41:53 - Money Makers Circle 51:37 - Close If you enjoy the weekly podcast, you may also find value in joining

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Emma Bird and Shayan Ratnasingam of Winterflood Securities; and also previews a discussion with Paul and Richard Pindar of Literacy Capital, available in full for subscribers to the Money Makers Circle. Trusts mentioned this week (with tickers) include: ThomasLloyd Energy Impact (TLEI), Conviction Life Sciences, Troy Income and Growth (TIGT), Montanaro European Smaller Companies (MTE), Abrdn Japan (AJIT), Biotech Growth (BIOG), Syncona (SYNC), Schroder Real Estate Income (SREI), Seraphim Space Invementment Trust (SSIT). Section Timestamps: 01:10 - Reviewing the week 03:40 - Summary of the week's results 04:37 - Q&A with Emma Bird 04:49 - Reaction to the Autumn Statement 06:54 - Movements in the Investment Trusts sector 09:09 - Company expectations during a recession 11:38 - Distinguishing between sectors 13:22 - UK Equity Income sector 16:27 - Biotech

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Harry Nimmo, manager of the Abrdn UK Smaller Companies Growth Trust. Trusts mentioned this week (with tickers) include: Long Term Assets (LTA), ThomasLloyd Energy Impact (TLEP), Independent Investment Trust (IIT), Majedie Investments (MAJE), Biopharma Credit (BPCR), JPMorgan Russian Securities, AVI Global Trust (AGT), Abrdn Latin American Income Trust (ALAI), Scottish Mortgage Investment Trust (SMT), Capital Gearing Trust (CGT). Section Timestamps: 00:52 - Review of the week 07:51 - Results, NAV updates, and fundraising 09:25 - Corporate news 15:41 - The week's results 20:06 - Money Makers Circle 22:16 - Podcast format 22:50 - Q & A with Harry Nimmo 23:26 - How Harry got into managing investment trusts 28:16 - Differences in managing an investment trust vs open ended fund 30:37 - Message to investors during downturns 31:58 - How does the 2022 sell-off compare to o

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Ewan Lovett-Turner, head of investment trust research at Numis Securities. Trusts mentioned this week (with tickers) include: CQS Natural Resources Growth and Income (CYN), International Biotech (IBT), Fidelity Special Values (FSV), BlackRock Smaller Companies (BRSC), Princess Private Equity (PEY), International Public Partnerships (INPP), TwentyFour Income (TFIF), Independent Investment Trust (IIT), Starwood European Real Estate Finance (SWEF), Balanced Commercial Property Trust (BCPT). Section Timestamps: 00:36 - Review of the week and summary of results 04:55 - On the Money Makers Circle this week 05:29 - Q &A with Ewan Lovett-Turner - 05:44 - The overall market environment - 07:21 - Client sentiment - 09:12 - Discounts in the investment trusts sector - 12:37 - Understanding how different trusts are affected - 14:02 - The fundraising "desert" - 15:42 - Consolid

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis attends the AIC's inaugural Investment Company Showcase event, held on Friday 28 October 2022. He is joined for brief chats, first by the CEO of The Association of Investment Companies, Richard Stone, followed by a number of the fund managers also in attendance. Section Timestamps: 01:06 - Review of the week 03:30 - Corporate news and accouncements 09:13 - A summary of the week's results 12:29 - Money Makers Circle 12:44 - Fund manager chats 12:50 - Richard Stone, CEO of The AIC 15:08 - Nick Brind, manager of Polar Capital Global Financials Trust (PCFT) 20:05 - Kyle Caldwell, Interactive Investor 24:51 - Jason Baggaley, Abrdn Property Income (API) 31:40 - Bruce Stout, Murray International 37:11 - Paul Niven, F&C Investment Trust (FCIT) 43:17 - James Henderson, Janus Henderson 50:09 - Paulo Almeida, Tufton Oceanic Assets 56:12 - Job Curtis, City of London Investment Trust 1:02:35 - The Investment Trusts Handbook 2023 1:03:07 - Clo

In a special edition of the Weekly Investment Trust Podcast which was recorded before the latest seismic political developments in 10 Downing Street, Jonathan Davis, the editor of the Investment Trusts Handbook, talks to Sandy Nairn, the manager and executive director of the Global Opportunities Trust (GOT) and author of The End of the Everything Bubble. Section Timestamps: 00:17 - Introducing Sandy Nairn 03:01 - Money Makers Circle 03:33 - Next week 04:00 - Discussion with Sandy Nairn 04:06 - The End of the Everything Bubble 07:38 - How bad can things get? 09:33 - The increase in debt 11:06 - The Federal Reserve 13:16 - Government bond yields 14:24 - The impact of politic pressures 16:56 - Why change the portfolio mandate? 21:40 - What would Templeton do? 25:30 - Self-managed trusts 26:59 - Understanding financial history 29:35 - The Crypto Bubble 31:41 - An optimistic outlook? 34:41 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers cir

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by Richard Curling, manager of both the Jupiter Alternative Monthly Income Fund, and the Jupiter Fund of Investment Trusts. Trusts mentioned this week (with tickers) include: Fundsmith Emerging Equities (FEET), Sustainable Farmland Trust, Harmony Energy Income (HEIT), Hipgnosis Songs Fund (SONG), Taylor Maritime (TMI), LXI REIT (LXI), Biopharma Credit (BPCR), Supermarket REIT (SUPR), Digital 9 Infrastructure (DGI9), Gore Street Energy (GSF), Greencoat UK Wind (UKW). Section Timestamps: 00:18 - Review of the week 02:48 - Money Makers Circle 02:58 - Introducing Richard Curling 03:42 - Summary of this week's news and results 08:12 - Discussion with Richard Curling 47:56 - 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 m

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Duncan MacInnes, lead manager of the Ruffer Investment Company (RICA); and Peter Hewitt, manager of the CT Global Managed Portfolio (CMPG). Trusts mentioned this week (with tickers) include: Invesco Perpetual UK Smaller Companies (IPU), Strategic Equity Capital (SEC), Henderson EuroTrust (HNE), European Smaller Companies (ESCT), Ashoka India Equity (AIE), Baillie Gifford China Growth (BGCG), Vietnam Holding (VNH), Macau Property Opportunities (MPO), Hipgnosis Songs Fund (SONG), Monks / Independent Investment Trust (IIT), NB Private Equity (NBPE), SDCL Energy Efficiency Income (SDCL), Scottish Mortgage Trust (SMT), Finsbury Growth and Income (FGT), Worldwide Healthcare Trust (WWH), BH Macro (BHMG), Fidelity Emerging Markets (FEML), Mobius Investment Trust (MMIT). Section Timestamps: 01:06 - Review of the week 03:11 - Money Makers Circle 04:07 - Discussion with Dun

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by James Carthew, director of QuotedData; Colette Ord, Infrastructure and Renewable Energy analyst at Numis; and Justin Bell, Property Specialist at Numis. Trusts mentioned this week (with tickers) include: Digital 9 Infrastructure (DGI9), Cordiant Digital Infrastructure (CORD), HICL Infrastructure (HICL), Bluefield Solar Income (BSIF), Octopus Renewables Infrastructure (ORIT), Aquila European Renewables Income Fund (AERS), UK Commercial Property (UKCM), PRS REIT (PRSR). Section Timestamps: 00:13 - Reaction to the mini-budget 01:58 - Review of the week 05:39 - Money Makers Circle 06:05 - Discussion with James Carthew 19:52 - Discussion with Colette Ord 35:40 - Discussion with Justin Bell 51:39 - 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 opp

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by Nick Greenwood, manager of the MIGO Global Opportunities Trust and Matt Hose, alternative assets analyst at Jefferies. Next week, the podcast takes a break while Jonathan is on holiday but it will return on 01 October. We are aware of an issue that affected delivery of last week's podcasts to some listeners who subscribe via Apple Podcasts and we apologise for the inconvenience. Should you experience any difficulty accessing the podcast through your usual channel, the latest edition of the podcast is always available at the Money Makers website (money-makers.co/podcasts) Trusts mentioned this week (with tickers) include: The Sustainable Farmland Trust, Independent Living REIT, Pantheon Infrastructure (PINT), Third Point Investors (TPOU), Baker Steel Resources Trust (BSRT), Dunedin Enterprise (DNE), Chrysalis Investments (CHRY), Macau Property Opportunities Fund

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this bonus edition of the Money Makers Weekly Investment Trust podcast by Steven Tredget, a partner at Oakley Capital. 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. For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our over 120 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also availab

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by Alastair Laing, co-manager of Capital Gearing Trust. Jonathan also spoke to Steven Tredget of Oakley Capital Investments; their discussion will be released as a bonus podcast. Trusts mentioned this week (with tickers) include: SDCL Energy Efficiency Trust (SEIT), LXI REIT (LXI), Abrdn New Dawn (ABD), Trian Investors One (TI1), Triple Point Social Housing (SOHO), Abrdn UK Smaller Companies Growth Trust (AUSC), Abrdn Smaller Companies Income Trust (ASCI), BlackRock Latin America (BRLA), Rockwood Strategic (RKW), AVI Japan Opportunity Trust (AJOT), Castelnau Group (CGL), Vietnam Enterprise Investments (VEIL), International Public Partnerships (INPP), Thomaslloyd Energy Impact Trust (TLEI). Section Timestamps: 00:07 - Introduction 02:46 - Money Makers Circle 03:32 - Noteable results this week 04:51 - A discussion with Alastair Laing 41:16 - Summary of results 50:00 -

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week's edition of the Money Makers Weekly Investment Trust podcast by two guests - Max King, columnist at MoneyWeek and former fund manager at Investec; and Andrew Lister, head of closed-end fund strategies at Abrdn. Trusts mentioned this week (with tickers) include: F&C Investment Trust (FCIT), Chrysalis Investments (CHRY), SDCL Energy Efficiency Income (SEIT), Taylor Maritime Investments (TMI), Rights and Issues Investment Trust (RIII), BBGI Global Infrastructure (BBGI), Target Healthcare REIT (THR), Oakley Capital (OCI), HG Capital (HGT), 3i Group (III), Intermediate Capital Group (ICP). Section Timestamps: 00:45 - Review of the week with Max King 10:44 - This week's news and fundraising 17:47 - Max King's portfolio changes 22:25 - Jonathan's round-up of other news 25:34 - Latest investment trust results 27:33 - Latest Money Makers Circle content 28:22 - Private equity discussion with Andrew Lister 53:23 - Close If you enjoy

Jonathan Davis, editor of the Investment Trusts Handbook, is joined this week by two guests - Ian Lance, manager of the Temple Bar Investment Trust; and Emma Bird, commercial property analyst at Winterflood Securities - in the latest edition of the Money Makers Weekly Investment Trust podcast. Trusts mentioned this week (with tickers) include: Scottish Investment Trust (SCIN), TwentyFour Income Fund (TFIF), Rockwood Strategic (RKW), Digital9 Infrastructure (DGI9), Pershing Square Holdings (PSH), JPMorgan American Investment Trust (JAM), JPMorgan US Smaller Companies (JUSC), BlackRock World Mining (BRWM), CT Private Equity Trust (CTPE), Chrysalis Investments (CHRY), Bluefield Solar Income Fund (BSIF), Next Energy Solar Fund (NESF), Axiom European Financial Debt Fund (AXI), AEW UK REIT (AEWU), Abrdn Property Income Trust (API), Balanced Commercial Property Trust (BCPT), CT Property Trust (CTPT), UK Commercial Property REIT (UKCM), LXI REIT (LXI), Tritax Big Box (BBOX), Target Healthcare REIT (THRL), Impact Hea

Jonathan Davis, editor of the Investment Trusts Handbook, is joined this week by Ewan Lovett-Turner, head of investment trust research at Numis Securities, in the latest edition of the Money Makers Weekly Investment Trust podcast. Jonathan is also joined by Ben Rogoff, manager of the Polar Capital Technology Trust. Trusts mentioned this week (with tickers) include: RIT Capital Partners (RCP), Pantheon International (PIN), Smithson Investment Trust (SSON), Henderson Smaller Companies Trust (HSL), Fidelity European Trust (FEV), JPMorgan Claverhouse (JCH), NB Global Monthly Income (NBMI), Rights and Issues Investment Trust (RIII), Castelnau Group (CGL), Fidelity Japan Trust (FJV), Invesco Asia Trust (IAT), Vietnam Enterprise Investments (VEIL), Mobius Investment Trust (MMIT), Fundsmith Emerging Equities Trust (FEET), Impax Environmental Markets (IEM), BlackRock Energy and Resources Income Trust (BERI). Section Timestamps: 00:52 - Taking a break 01:12 - The week in the markets 02:29 - Money Makers Circle 03:4