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 Ailsa Craig and Marek Poszepczynski, co-managers of the International Biotechnology Trust (IBT).
You can listen to this week’s podcast in full on the audio players below. Alternatively, you can subscribe and download it on most podcast channels including Soundcloud, Apple, Spotify, Stitcher and others.
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Another rate rise from the Bank of England
0:00:29 – This week’s guests
0:01:57 – The markets this week
0:04:05 – This week’s news
0:04:29 – Money Makers Circle
0:05:20 – Noteable results and announcements
0:08:12 – Q&A with Andrew McHattie
0:11:23 – Investment trust sector pe rformance
0:12:36 – Civitas Social Housing (CSH)
0:17:39 – Home REIT (HOME)
0:21:25 – US Solar Fund (USF)
0:23:23 – The renewables sector
0:25:31 – Private equity
0:29:13 – 3i Group (III)
0:31:20 – ICG Enterprise (ICGT)
0:35:00 – Q&A with Ailsa Craig and Marek Poszepczynski
0:36:09 – Why choose to invest in IBT
0:37:34 – The factors involved in declining returns for the sector
0:41:01 – The impact of a recession and high interest rates on the sector
0:42:26 – M&A activity
0:45:44 – The US Presidential election cycle
0:48:34 – The IBT portfolio
0:52:19 – Gearing on the trust
0:53:34 – The trust’s dividend
0:55:39 – Investments in unlisted private companies
0:59:03 – Sectors or companies with prospects for the next ‘big bang’
1:01:56 – Future fund manager arrangements
1:02:50 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Schiehallion Fund (MNTN)
- 3i Group (III)
- 3i Infrastructure Trust (3IN)
- Pacific Assets (PAC)
- Baillie Gifford European Growth (BGEU)
- BlackRock Greater Europe (BRGE)
- Polar Capital Global Healthcare (PCGH)
- Seraphim Space (SSIT)
- Chrysalis Investments (CHRY)
- Civitas Social Housing (CSH)
- Triple Point Social Housing (SOHO)
- Home REIT (HOME)
- US Solar Fund (USF)
- Next Energy Solar Fund (NESF)
- Bluefield Solar Fund (BSIF)
- Oakley Capital Investments (OCI)
- RTW Venture Fund (RTW)
- ICG Enterprise (ICGT)
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Disclosures about the editor’s personal holdings of investment trusts can be found here. Our podcasts are also available on the Association of Investment Companies website (www.theaic.co.uk) and Doceo (doceo.tv). The producer of the podcasts is the brilliant Ben Gamblin – more details on him here.