Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Max King, former fund manager at Investec and columnist in MoneyWeek, and Andrew Rees, property investment trust analyst at Numis Securities.
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 SDCL Energy Efficiency Income Trust (SEIT). A subscription costs £8 a month, or a modest £2 a week.
Strong momentum continues into January
00:13 – Review of the week
02:28 – Money Makers Circle
02:58 – Q&A with Max King
05:57 – Will world markets do better than US markets?
07:31 – Chinese investment trusts
10:42 – Home REIT (HOME) and RIT Capital Partners (RIT)
17:49 – IPO announcement: AT85 Global Mid-market Infrastructure
18:33 – Aurora Investment Trust (ARR)
19:59 – Risks for the year
20:54 – Changes with Max’s investments?
22:17 – Commercial property Q&A with Andrew Rees
24:00 – What sectors were worst affected by the change in environment and why
24:57 – The scale of the change in share price performance and ratings
25:52 – Comparing discounts to previews periods of significant discount movements
27:49 – What will happen from here?
29:44 – Dividend yields and their sustainability
33:47 – Further valuation pressures on capitalisation rates
37:36 – Trusts with long-term inflation-linked leases
39:35 – Supermarket Income REIT (SUPR) and the Sainsbury’s Supermarket portfolio
41:34 – LXI REIT (LXI) and refinancing
44:14 – Social housing sector
49:21 – Specialist healthcare trusts
53:14 – The trusts that Andrew is looking for
55:38 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Henderson Diversified Income (HDIV)
- AT85 Global Mid-market Infrastructure Income
- Home REIT (HOME)
- RIT Capital Partners (RCP)
- Scottish Mortgage Investment Trust (SMT)
- Aurora Investment Trust (ARR)
- Rockwood Strategic (RKW)
- Odyssean Investment Trust (OIT)
- North Atlantic Smaller Companies
- Temple Bar Investment Trust (TMPL)
- Edinburgh Investment Trust (EDIN)
- Regional REIT (RGL)
- Alternative Income REIT (AIRE)
- Ediston Property Investment Company (EPIC)
- AEW UK REIT (AEWU)
- LXI REIT (LXI)
- Value and indexed Property Income (VIP)
- Supermarket Income REIT (SUPR)
- Abrdn Property Income (API)
- Civitas Social Housing (CSH)
- Triple Point Social Housing (SOHO)
- Target Healthcare REIT (THRL)
- Impact Healthcare REIT (IHR)
About Money Makers
We are an 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 over 140 podcasts in the more than two and a half 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.