In this extended edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025) is joined by two guests. Firstly, Peter Hewitt, former manager at the CT Global Managed Portfolio Trust, and then Carlos Hardenberg, lead manager at the Mobius Investment Trust (MMIT), to discuss – amongst other things – the ongoing impact of the Iran War on financial markets and the investment trusts sector
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325: Peter Hewitt and Carlos Hardenberg
0:00:44 – Peter Hewitt
0:00:49 – Looking at the markets
0:06:42 – Waiting for the dust to settle
0:12:43 – Discounts
0:17:58 – Baillie Gifford European Growth (BGEU)
0:22:36 – Diversified and defensive portfolios
0:25:01 – Pershing Square Holdings (PSH)
0:28:20 – Saba Capital
0:34:43 – A short break
0:35:47 – Carlos Hardenberg
0:36:56 – Reflecting on the last eight years
0:39:39 – The place for emerging markets in portfolios
0:45:09 – The argument to shareholders given the scale of the trust
0:48:12 – A shareholder opportunity presented by a wide discount
0:51:58 – Responding to current geopolitical issues
0:55:45 – A view on China
1:00:25 – Portfolio holdings
1:05:52 – The strategic impact of the new global order
1:08:01 – Close
OUT NOW: The Investment Trusts Handbook 2026
The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector.
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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.