In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, reviews the week in the markets and speaks to Paul ffolkes Davis, chairman of Rising Sun Management, the investment advisor to the Nippon Active Value Fund (NAVF), and Max King, the market and investment trust commentator and former Investec fund manager.
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, Google, and others, including now the Money Makers YouTube channel. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free.
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Signs of economic recovery
0:01:31 – Review of the week
0:04:38 – Summary of results
0:05:39 – Corporate news and announcements
0:06:08 – Money Makers Circle
0:06:48 – Q&A with Paul ffolkes Davis
0:08:43 – Rolling over of AJGF and AJIT
0:14:11 – Reflecting on the IPO
0:17:26 – Availability of potential partners
0:18:33 – The strategy
0:25:41 – The value of the yen
0:27:58 – Gearing
0:29:13 – Prospects for the year ahead
0:33:18 – Q&A with Max King
0:36:18 – The performance of gold
0:37:31 – The investment trust sector
0:38:35 – Cost disclosure, constraints, and the regulator
0:42:30 – Good investments
0:47:05 – Private equity
0:48:32 – Spotting the next target for consolidation
0:54:49 – Solving the housing market problem
0:57:58 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Nippon Active Value Fund (NAVF)
- Seraphim Space Investment Trust (SSIT)
- Hipgnosis Songs Fund (SONG)
- BlackRock World Mining (BRWM)
- Asian Energy Impact Trust (AEIT)
- Marble Point Loan Financing (MPLS)
- Mercantile Investment Trust (MRC)
- Impax Environmental Markets (IEM)
- Downing Renewables and Infrastructure (DORE)
- Global Opportunities Trust (GOT)
- Caledonia Investments (CLDN)
- Tritax Big Box (BBOX)
- UK Commercial Property (UKCM)
- Abrdn Diversified Income and Growth (ADIG)
- VPC Speciality Lending Investments (VSL)
- Chrysalis (CHRY)
- Atlantis Japan Growth Fund (AJGF)
- Abrdn Japan Investment Trust (AJIT)
- AVI Japan Opportunity Trust (AJOT)
- 3i Group (III)
- HgCapital Trust (HGT)
- Pershing Square Holdings (PSH)
- Temple Bar (TMPL)
- Edinburgh Investment Trust (EDIN)
- BlackRock Energy and Resources Trust (BERI)
- RIT Capital Partners (RCP)
- HgCapital Trust (HGT)
- Literacy Capital (BOOK)
- Intermediate Capital Group (ICP)
- Pantheon International (PIN)
- Smithson Investment Trust (SSON)
- Edinburgh Worldwide (EWI)
- Henderson Eurotrust (HNE)
- Henderson European Focus (HEFT)
About Money Makers
We are an editorially independent research and publishing venture committed to providing high-quality investment information and resources. You can sign up below to be notified about the latest podcasts by email as soon as they become available. Please note that the podcasts should not be regarded as personal financial advice, but are provided for information and background only. We are very grateful for your continued support and the enthusiastic response to our more than 200 podcasts in the almost four years since launch.
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.