Money Makers podcast: 28 Sep 2024

In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, reviews the week in the markets and speaks to Sachin Saggar, alternatives investment trusts analyst at Stifel.

You can listen to this week’s podcast in full on the audio player below. Alternatively, you can subscribe via our YouTube channel, and at most podcast platforms including Apple Podcasts, Spotify, and Soundcloud. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free.

 

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 usual features, the Circle features a profile of Global Opportunities Trust (GOT). Future profiles include Bellevue Healthcare (BBH) and Edinburgh Worldwide (EWI). Look out for the latest edition of our new expanded weekly subscriber email which summarises Jonathan’s latest thoughts and includes a comprehensive summary of all the latest news. The content of that email is also available for subscribers via the website. A subscription costs £12 a month, or £120 for one year with a two week free trial.

China announcements dominate headlines


0:00:39 – This week’s guest
0:01:13 – Review of the week
0:03:08 – Results and the Money Makers Circle
0:04:58 – Changes to the podcast
0:06:17 – Q&A with Sachin Saggar

0:07:17 – Will the sector trade at a premium to NAV in the future?
0:09:02 – Reliability of NAVs
0:14:50 – The case for standardised disclosures
0:16:29 – Limited opportunity to raise new equity
0:20:57 – Reactions to proposals to buy into the alternative assets sector
0:24:15 – Evaluating the performance of alternative assets trusts
0:27:47 – Is there still value to be found across the sector?
0:28:21 – Looking at earnings multiples
0:29:44 – Cost disclosure

0:30:44 – Close

About Money Makers

We are an editorially 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 nearly 230 podcasts in the over four 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.

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Money Makers podcast: 24 Feb 2024

In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, reviews the week in the markets and speaks to Ben Conway, head of fund management at Hawksmoor Investment Management, and Sachin Saggar, analyst at the broking firm, Stifel.

Also, in case you missed it, the second part of last week’s podcast featuring an interview with Laura Foll is available now.

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, Google, and others, including now the Money Makers YouTube channel. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free.

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 usual features, the Circle features a profile of MIGO Opportunities (MIGO). Future profiles include the Bankers Investment Trust (BNKR) and CC Japan Income & Growth (CCJI). Remember to look out for the latest edition of our new expanded weekly subscriber email which summarises Jonathan’s latest thoughts along with a new list of his favourite funds, and includes all the regular features available in the Circle. The content of that email is also available for subscribers via the website. A subscription costs £8 a month, or a modest £2 a week.

Nvidia quarterly earnings drive Wall Street surge

0:00:39 – Review of the week
0:04:01 – Trust news and summary of results
0:05:55 – Money Makers Circle
0:06:10 – This week’s guests
0:06:45 – Next week’s podcast and the Annual Master Investor Show
0:07:29 – Q&A with Ben Conway

0:07:59 – Acronym alert!
0:08:49 – The situation with the cost disclosure issue
0:18:00 – A concession from the FCA
0:19:35 – Understanding what is going on
0:22:36 – Is the potential cost diclosure resolution factored into prices?
0:24:30 – Time needed for discounts to come in
0:26:20 – Corporate activity and supply and demand
0:31:18 – This year’s approach
0:38:19 – Feedback from clients

0:40:29 – Q&A with Sachin Saggar

0:40:43 – An overview of alternatives
0:43:17 – Rationalisation
0:44:40 – Calculating value in struggling trusts
0:50:58 – The shipping sector
0:54:03 – Hipgnosis Songs Fund (SONG)
0:56:43 – The renewables and battery storage sectors
1:04:16 – Looking back at the alternative assets “revolution”

1:06:49 – Close

Trusts mentioned in this week’s podcast (with tickers) include:

  • Seraphim Space (SSIT)
  • Abrdn Property Income (API)
  • Urban Logistics (SHED)
  • Custodian Property Income (CREI)
  • Abrdn China (ACIC)
  • Fidelity China Special Situations (FCSS)
  • Gulf Investment Fund (GIF)
  • Herald Investment Trust (HRI)
  • J.P.Morgan Global Growth and Income (JGGI)
  • Capital Gearing Trust (CGT)
  • VH Global Sustainable Energy Opportunities (GSEO)
  • Fidelity Emerging Markets (FEML)
  • Riverstone Energy (RSE)
  • Digital 9 Infrastructure (DGI9)
  • Cordiant Digital Infrastructure (CORD)
  • Tufton Oceanic Assets (SHIP)
  • Taylor Maritime (TMI)
  • Hipgnosis Songs Fund (SONG)
  • Octopus Renewables Infrastructure (ORIT)
  • Aquila European Renewables (AERI)

About Money Makers

We are an editorially 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 nearly 200 podcasts in the almost four 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.

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