Exclusive to subscribers to the Money Makers Circle Contents - On the podcast this week - Latest trust profile - Trust news over the past week - Recent issuance and buybacks - Thoughts on the news/portfolio reviews - Good reads - This week's biggest movers - Investment Trusts Handbook - Video reviews - Appendices
On the podcast this week We are going to hear a lot more about Saba Capital before the seven meetings it has requisitioned come round, starting on 22 January with the Herald (HRI) meeting. After my video review of Saba Capital's plans shortly before Christmas, I called in two differe...
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Exclusive to subscribers to the Money Makers Circle Contents - On the podcast this week - Latest trust profile - Trust news over the past week - Recent issuance and buybacks - Thoughts on the news - Good reads - Investment Trusts Handbook - This week's biggest movers - Video reviews - Appendices
On the podcast this week This week the podcast features Gavin Lumsden, the investment trusts editor at Citywire, who recently announced his intention to step down after nearly 25 years. We discuss how the world of investment trusts has changed over that time and reflect on some of the highlights of th...
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This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities follow along with a table from Winterflood showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the trust's discount/premium to NAV on the day of the announcement. The final table at the bottom of the...
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Murray Income (MUT) was established in 1923 and is one of the larger trusts in the UK Equity Income sector with net assets of around £1bn. It holds around 50 stocks with a quality bias and usually has a low rate of portfolio turnover. Up to 20% of net assets can be held in overseas stocks and the trust typically takes full advantage of this option. MUT has been managed by Charles Luke of abrdn since 2006 and it has a 51-year record of consecutive dividend increases. Gearing is around 10% with a total of £100m borrowed via two fixed-rate notes, one of which was taken on as part of the merger wi...
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Exclusive to subscribers to the Money Makers Circle Contents - On the podcast this week - Latest trust profile - Trust news over the past week - Recent issuance and buybacks - Thoughts on the news - Good reads - Investment Trusts Handbook - This week's biggest movers - Video reviews - Appendices
On the podcast this week This week the podcast features one of my regular roundup conversations with Andrew McHattie, editor of the Investment Trusts newsletter, in which we discuss among other items, the latest results from Polar Capital Technology (PCT), MIGO Opportunities (MIGO) and TwentyFour Sele...
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This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities follow along with a table from Winterflood showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the trust's discount/premium to NAV on the day of the announcement. The final table at the bottom of the...
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Baillie Gifford Shin Nippon (BGS) was launched in 1985 to invest in Japanese smaller companies. It caught the tail end of the 1980s boom in Japanese stocks and then endured a volatile two decades as the bubble steadily deflated. In the twelve years following the financial crisis, BGS produced an astonishing 18-fold gain but since 2021 it has significantly underperformed its benchmark and its shares have more than halved as investors turned away from Baillie Gifford's distinctive style of growth investing. BGS traded at a premium for most of the 2010s and was able to more than double its share ...
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Exclusive to subscribers to the Money Makers Circle Contents - On the podcast this week - Latest trust profile - Trust news over the past week - Recent issuance and buybacks - Thoughts on the news - Good reads - Investment Trusts Handbook - This week's biggest movers - Video reviews - Appendices
On the podcast this week This week's episode features one of my most popular guests, in the form of a return appearance from Marcus Phayre-Mudge, the manager of TR Property (TRY). We discuss whether the commercial property business has finally turned the corner after a torrid few years and if the wave...
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This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities follow along with a table from Winterflood showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the trust's discount/premium to NAV on the day of the announcement. The final table at the bottom of the...
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JPMorgan Global Growth & Income (JGGI) was established in 1887 and has been focused on global equities since 1982. Originally managed by Robert Fleming & Co, it became part of the JPMorgan stable in 2001. JGGI bought back a large amount of its shares between 1998 and 2015 in an attempt to reduce its discount, first to a target of 10% and then to 5% or less. In 2016, it was one of the first trusts to adopt an enhanced dividend policy, allowing dividends to be paid out of capital and setting its payout at 4% of its NAV. Since this change, JGGI has nearly always traded at a premium and it...
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