This week, we have two guests from BlackRock Energy and Resources Income (BERI) joining the podcast: manager Tom Holl, and chairman Adrian Brown. We discuss the impact of conflict in the Middle East and the trust’s three-pronged approach ahead of its continuation vote next week. Hosted by Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025).
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324: Tom Holl and Adrian Brown
0:00:56 – The impact of the Iran War on the energy sector
0:03:53 – Vulnerabilities to the global economy
0:06:42 – The three investment “buckets”
0:13:50 – A short break
0:14:54 – The position of the trust as it approaches a continuation vote
0:17:47 – Making the case for the strategy within a small trust
0:19:24 – Saba Capital, activist investors, and discount control
0:22:46 – The enhanced income strategy and a reduction in gearing
0:30:35 – Reflecting on incorporating energy transition
0:31:51 – Renewable energy trusts
0:33:50 – The case made to shareholders
0:36:12 – Consequences of an escalating crisis in the Middle East
0:37:30 – Hedging currency
0:39:17 – Close
OUT NOW: The Investment Trusts Handbook 2026
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