In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to Andrew McHattie, editor of the Investment Trusts Newsletter, and Ben Conway, Head of Fund Management at Hawksmoor Investment Management. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free.
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 previously subscribed via Stitcher, please note that this service has been discontinued. Please resubscribe through one of the other channels.
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A good week for risk assets
0:00:44 – This week’s guests
0:01:21 – Review of the week
0:03:19 – Corporate news
0:04:53 – Summary of results
0:07:10 – Summary of announcements
0:07:28 – Money Makers Circle
0:12:35 – Q&A with Andrew McHattie
0:14:17 – Coping with the derating period
0:16:21 – Infrastructure and private equity rerating
0:18:40 – The danger of missing out in a derating cycle
0:20:33 – Potential direction of travel
0:22:45 – Literacy Capital (BOOK) and HG Capital (HGT)
0:27:04 – Biopharma Credit (BPCR)
0:29:17 – Other names of interest
0:32:13 – The return of arbitrage/activist trusts
0:35:06 – Q&A with Ben Conway
0:42:43 – The impact of regulatory change on investment companies
0:44:16 – What should happen now?
0:48:30 – Why does this matter?
0:54:27 – Are costs a downward pressure on share prices relative to NAVs?
1:01:44 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- Geiger Counter (GCL)
- Digital 9 Infrastructure (DGI9)
- Seraphim Space (SSIT)
- BBGI Global Infrastructure (BBGI)
- Edinburgh Worldwide (EWI)
- Baillie Gifford Shin Nippon (BGS)
- Schroder European Real Estate (SERE)
- Literacy Capital (BOOK)
- Schiehallion (MNTN)
- Nippon Active Value Fund (NAVF)
- Henderson European Focus Trust (HEFT)
- Real Estate Credit Investments (RECI)
- Axiom European Debt Trust (AXI)
- Biopharma Credit (BPCR)
- Princess Private Equity Trust (PEY)
- Round Hill Music Royalty Fund (RHM)
- Triple Point Housing (SOHO)
- Harmony Energy Income Trust (HEIT)
- Pantheon International (PIN)
- Life Science REIT (LABS)
- HydrogenOne Capital Growth (HGEN)
- HG Capital Trust (HGT)
- Biopharma Credit (BPCR)
- Triple Point Energy Transition (TENT)
- SDCL Energy Efficiency (SEIT)
- US Solar Fund (USF)
- Gore Street Energy Storage (GSF)
- Greencoat UK Wind (UKW)
- Henderson Opportunities Trust (HOT)
- Herald Investment Trust (HRI)
- Pershing Square Holdings (PSH)
- Schroder Mid-Cap (SCP)
- European Opportunities Trust (EOT)
- Tritax Big Box (BBOX)
About Money Makers
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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.