Money Makers podcast: 06 Sep 2025
In the latest edition of the podcast released this week, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Alastair Laing, CEO of CG Asset Management.
You can listen to this podcast in full on the audio player below. Alternatively, you can subscribe via our YouTube channel and most podcast platforms, including Apple Podcasts, Spotify, Amazon Music and Soundcloud. You can also find us listed on The AIC’s Podcast Directory. We are grateful to J.P. Morgan Asset Management, whose no-strings support enables us to keep the podcast free and our editorial integrity intact.
If you enjoy the Investment Trusts Podcast, you may also find value in joining The Money Makers Circle. This membership scheme 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 Lindsell Train Investment Trust (LTI). Future profiles include Herald Investment Trust (HRI) and AEW UK REIT (AEWU). Jonathan’s latest video in the Trust of the Week series covering Temple Bar (TMPL) is also still available, along with earlier videos in the series. Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news, plus the week’s biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector. A subscription costs £12 a month, or £120 for one year with a two week free trial.
294: Alastair Laing
0:00:45 – The government bond markets
0:09:46 – Understanding duration and the effect on bond prices
0:12:21 – Nominal yields and real yields
0:17:06 – The equity markets
0:23:27 – The outlook for the dollar
0:26:11 – The price of gold
0:28:55 – A short break
0:30:01 – Investment trust exposure
0:33:17 – The alternatives sector
0:41:05 – Tackling discounts
0:44:29 – Performance of the trust
0:47:23 – Close
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 more than 290 podcasts in the over five years since launch.
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.
Latest Money Makers podcasts
Money Makers podcast: 13 Jan 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 Alastair Laing, CEO of CG Asset Management, and Ken Wotton, manager of Strategic Equity Capital (SEC).
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 the Witan Investment Trust (WTAN). Future profiles include Sequoia Economic Infrastructure Income (SEQI) and J.P.Morgan Japanese (JFJ). Remember to look out for the latest edition of our new expanded weekly subscriber email which summarises Jonathan’s latest thoughts and all the regular features available in the Circle. A subscription costs £8 a month, or a modest £2 a week.
A flattish week
0:02:48 – Cost disclosure rules
0:04:00 – This week’s guest
0:04:40 – Summary of results
0:05:49 – Money Makers Circle
0:06:28 – Q&A with Alastair Laing
0:15:21 – Looking ahead and the impact of elections
0:19:46 – Portfolio changes
0:30:11 – General infrastructure sector
0:33:52 – Property sector
0:37:21 – Private equity sector
0:39:59 – Opportunities in 2024
0:41:46 – Q&A with Ken Wotton
0:50:45 – Differences to other similar trusts
0:55:26 – Ambitions for the trust
1:04:05 – Looking forward
1:05:55 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Seraphim Space Investment Trust (SSIT)
- Hydrogenone (HGEN)
- Biopharma Credit (BPCR)
- Geiger Counter (GCL)
- Digital 9 Infrastructure (DGI9)
- Henderson Diversified Income (HDIV)
- Pershing Square Holdings (PSH)
- Rockwood Strategic (RKW)
- Ashoka India Equity Investments (AIE)
- Abrdn New India (ANII)
- Invesco Select (IVPU)
- Abrdn Diversified Income and Growth (ADIG)
- Atrato Onsite Energy (ROOF)
- LXi REIT (LXI)
- LondonMetric (LMP)
- Gore Street Energy Storage (GSF)
- HOME REIT (HOME)
- Caledonia Investments (CLDN)
- Alliance Trust (ATST)
- Hipgnosis Songs Fund (SONG)
- BBGI Global Infrastructure (BBGI)
- 3i Infrastructure (3IN)
- International Public Partnerships (INPP)
- HICL Infrastructure (HICL)
- Greencoat UK Wind (UKW)
- Tritax Big Box (BBOX)
- PRS REIT (PRSR)
- Literacy Capital (BOOK)
- Oakley Capital (OCI)
- HgCapital Trust (HGT)
- Odyssean Investment Trust (OIT)
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 over 190 podcasts in the more than three 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.
Latest Money Makers podcasts
Money Makers podcast: 15 Jul 2023
In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to Alastair Laing, CEO of CG Asset Management.
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. For any listeners who have subscribed via Stitcher, please note that service has announced it will be discontinued. Please resubscribe through one of the other channels.
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 Riverstone Energy (RSE). Jonathan has also posted a series of charts that summarise the performance of markets and investment trusts so far this year, and his quarterly video review of some individual trust performance will be coming soon. A subscription costs £8 a month, or a modest £2 a week.
A turning point for the sector?
00:29 – Review of the week
03:38 – This week’s guest
05:57 – Money Makers Circle
06:33 – Coming next week
07:02 – News and announcements
11:18 – Summary of results
14:40 – Q&A with Alastair Laing
17:50 – Index linked performance
23:39 – The equity market
30:52 – Rising bond yields and the extent of derating
38:04 – Commercial property
41:05 – Consolidation in the alternatives sector
42:49 – Opportunities to bring in a discount
52:02 – Summarising CGT’s position
54:14 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Scottish Mortgage (SMT)
- Seraphim Space (SSIT)
- LXi REIT (LXI)
- Supermarket Income REIT (SUPR)
- Capital Gearing Trust (CGT)
- ThomasLloyd Energy Impact (TLEI)
- US Solar Fund (USF)
- RM Infrastructure Income (RMII)
- Hipgnosis Songs Fund (SONG)
- Artemis Alpha (ATS)
- Miton UK Microcap (MINI)
- Jupiter Green (JGC)
- Polar Capital Global Financials (PCFT)
- Digital 9 Infrastructure (DGI9)
- CT Property Trust (CTPT)
- Ediston Property Investment Company (EPIC)
- Civitas Social Housing (CSH)
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 almost 170 podcasts in the more than three 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.
Latest Money Makers podcasts
Money Makers podcast: 10 Dec 2022
Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Alastair Laing, co-manager of Capital Gearing Trust.
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. In addition to the regular features, this week the Circle features a profile of the JPMorgan Global Core Real Assets Trust (JARA).
Shying away from a Santa rally?
00:39 – The Investment Trusts Handbook
02:23 – Capital Gearing Trust
04:36 – The thinking behind CGT’s defensive stance
07:53 – Any significant changes at CGT?
10:48 – What would it take to start thinking about increasing equity and risk asset exposure?
14:04 – Could the US avoid a recession?
16:18 – Inflation cannot be won in one battle
18:32 – Danger of a wage-price spiral in the US?
20:05 – Opportunities from wide discounts in the investment trusts sector
21:56 – The rise of alternative assets
24:02 – Commercial property
30:24 – Music royalties
31:55 – Renewable energy trusts
35:13 – Equity markets, investment style, and small vs large cap
45:26 – Emerging markets, and the role of single country or specialist regional trusts in a portfolio
47:34 – The role of Japan in the portfolio
50:22 – Money Makers Circle
50:56 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Civitas Social Housing (CSH)
- Home REIT (HOME)
- LXI REIT (LXI)
- Value and Indexed Property (VIP)
- Hipgnosis Songs Fund (SONG)
- Schroder UK Mid Cap Investment Trust (SCP)
- Finsbury Growth and Income (FGT)
- Monks (MNKS)
- Securities Trust of Scotland (STS)
- Templeton Emerging Markets (TEM)
- Barings Emerging EMEA Opportunities (BEE)
- BlackRock Frontiers Investment Trust (BRFI)
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 130 podcasts in the more than two 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.
Latest Money Makers podcasts
Money Makers podcast: 10 Sep 2022
Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Alastair Laing, co-manager of Capital Gearing Trust. Jonathan also spoke to Steven Tredget of Oakley Capital and their discussion is available as a bonus podcast.
You can listen to this week’s two podcasts 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 the Circle features a profile of 3i Private Equity (III).
A subscription costs £8 a month, or a modest £2 a week.
A momentous week for the United Kingdom
00:07 – Introduction
02:46 – Money Makers Circle
03:32 – Noteable results this week
04:51 – A discussion with Alastair Laing
41:16 – Summary of results
50:00 – Looking back to 1952
52:39 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- SDCL Energy Efficiency Trust (SEIT)
- LXI REIT (LXI)
- Abrdn New Dawn (ABD)
- Trian Investors One (TI1)
- Triple Point Social Housing (SOHO)
- Abrdn UK Smaller Companies Growth Trust (AUSC)
- Abrdn Smaller Companies Income Trust (ASCI)
- BlackRock Latin America (BRLA)
- Rockwood Strategic (RKW)
- AVI Japan Opportunity Trust (AJOT)
- Castelnau Group (CGL)
- Vietnam Enterprise Investments (VEIL)
- International Public Partnerships (INPP)
- Thomaslloyd Energy Impact Trust (TLEI)
Bonus edition – Steven Tredget of Oakley Capital
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 120 podcasts in the more than two 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.