In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, continues his conversation with Russell Napier, chairman of Mid Wynd International Investment Trust (MWY). Listeners can find the first half of this discussion in the podcast released on 27 May 2023. Jonathan then talks to Janette Rutterford, Emeritus Professor of Finance at the Open University, to talk about lessons that can be learnt from the history of investment trusts.
Jonathan remains on holiday this week, but Stuart Watson returns to provide the summary of the week’s announcements and results. Next week’s podcast will be released later than usual, on Tuesday 20 June 2023, after which the normal Saturday schedule will return.
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 HydrogenOne Capital Growth (HGEN). Next week’s profile will be of Pacific Horizon (PHI). A subscription costs £8 a month, or a modest £2 a week.
Another quiet week
00:29 – Coming up this week
01:44 – News and announcements with Stuart Watson
02:45 – Summary of the week’s results
10:42 – Money Makers Circle
11:14 – Q&A with Russell Napier (Part 2)
17:52 – Thoughts on the investment trusts sector
24:50 – Recommended literature
27:52 – The Library of Mistakes
29:10 – Q&A with Janette Rutterford
35:36 – The 1920s
41:17 – The 1990s and the Split Capital Crisis
46:23 – Split capital trusts
47:29 – Lessons for investors
49:33 – Knowledgeable investing
52:54 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Worldwide Healthcare Trust (WWH)
- Fidelity China Special Situations (FCSS)
- STS Global Income and Growth (STS)
- LXi REIT (LXI)
- Warehouse REIT (WHR)
- JZ Capital Partners (JZCP)
- JPMorgan European Growth and Income (JEGI)
- Abrdn Japan (AJIT)
- Schroder Real Estate (SREI)
- BlackRock Frontiers (BRFI)
- Edinburgh Worldwide (EWI)
- JPMorgan Indian (JII)
- Barings Emerging EMEA Opportunities (BEMO)
- Abrdn Diversified Income and Growth (ADIG)
- Residential Secure Income (RESI)
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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.