In the latest editions of the podcast released this week, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award is joined by Nick Brind, co-portfolio manager of Polar Capital Global Financials Trust (PCFT), and Chris Clothier, co-chief investment officer at CG Asset Management, the management company responsible for Capital Gearing Trust (CGT).
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280: Nick Brind
0:00:52 – Thoughts on the global financials sector
0:03:02 – Interest rates
0:07:37 – The weighting to banking
0:09:23 – Diversified financials and fintech
0:11:53 – Positives from the Trump administration and deregulation
0:16:14 – A short break
0:17:20 – Risks in the global financial system
0:21:25 – The price of the trust’s investments
0:24:33 – The proposition to shareholders
0:29:43 – The investment trust structure
0:31:46 – A lack of competitors
0:33:22 – Gearing
0:34:41 – Close
281: Chris Clothier
0:00:41 – The Trump 2.0 approach to policy management
0:05:06 – The erosion of trust in US stability
0:08:18 – The 3-3-3 Plan and inflation
0:10:05 – The problem of global debt build-up
0:13:56 – Reducing exposure to the US
0:18:02 – Brief thoughts on gold
0:19:43 – A short break
0:20:49 – Investment trust performance
0:23:19 – The investment trusts sector, discounts, and the reaction to threats
0:25:37 – The competitive threat to investment trusts
0:26:50 – Activism
0:30:46 – The trust’s potential for returns
0:36:35 – Close
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Disclosures about the editor’s holdings of investment trusts can be found here. Our podcasts are also available on the Association of Investment Companies website (www.theaic.co.uk). The producer of the podcasts is the brilliant Ben Gamblin – more details on him here.