In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, is joined by financial historian and market strategist Russell Napier, chairman of Mid Wynd International Investment Trust (MWY), in part one of their recent conversation (part two follows next week). Jonathan also speaks to Max King, former investment trust fund manager at Investec.
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.
If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers subscribers an opportunity to receive additional premium content, including interviews, investment trust performance data, market/portfolio reviews and regular extracts from the editor’s notebook. This week, as well as the regular features, the Circle features a profile of Abrdn Property Income Trust (API). A subscription costs £8 a month, or a modest £2 a week.
AI excitement drives up big tech share prices
01:05 – The markets this week
03:46 – Investment trusts news
11:21 – This week’s results
15:15 – Money Makers Circle
15:42 – Noteable interim results
17:14 – Q&A with Russell Napier (Part 1)
27:15 – The debt burden
29:40 – The 2% inflation target
36:37 – The attractiveness of bonds going forward
37:31 – Q&A with Max King
40:46 – The Bank of England’s response to inflation
42:22 – The UK market
44:52 – The investment trusts sector
45:31 – Infrastructure and renewables
49:05 – Commercial property
50:59 – Social housing
53:02 – Caledonia Investments (CLDN) and private equity
55:52 – Japanese trusts merger
57:24 – Twitter under Elon Musk
58:22 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Gresham House Energy Storage (GRID)
- CT Property Trust (CTPT) / LondonMetric (LMP)
- Momentum Multi-Asset Value Trust (MAVT)
- RM Infrastructure Income (RMII)
- M&G Credit Income (MGCI)
- Round Hill Music Royalty Fund (RHM)
- Capital Gearing Trust (CGT)
- HICL Infrastructure (HICL)
- JPMorgan Asia Growth and Income (JAGI)
- Schroder AsiaPacific (SDP)
- Henderson European Focus Trust (HEFT)
- Ediston Property Investment Company (EPIC)
- Shires Income (SHRS)
- Rockwood Strategic (RKW)
- Odyssean (OIT)
- 3i Infrastructure (3IN)
- BBGI Global Infrastructure (BBGI)
- Ashoka WhiteOak Emerging Markets Trust (AWEM)
- CT Property Trust (CTPT)
- Primary Health Properties (PHP)
- Assura (AGR)
- Derwent London (DLN)
- Great Portland Estates (GPOR)
- Shaftesbury Capital (SHC)
- Land Securities (LAND)
- TR Property (TRY)
- Home REIT (HOME)
- AEW UK REIT (AEWU)
- Civitas Social Housing (CSH)
- Caledonia Investments (CLDN)
- RIT Capital Partners (RCP)
- Scottish Mortgage (SMT)
- HG Capital Trust (HGT)
- 3i Group (III)
- Literacy Capital (BOOK)
- Nippon Active Value (NAVF) / Abrdn Japan (AJIT)
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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.