On the podcast this week On this week's podcast, after the usual brief summary of market movements and the main headlines from the latest news from the investment trust sector, I speak first to Dominic Scriven, the founder and CEO of Dragon, the investment management firm that launched and still runs Vietnam Enterprise Investments (VEIL), the oldest and largest of three specialist Vietnamese trusts that sit in the investment trust universe. It has generated an 11% annualised compound return over the past 30 years, though recent performance has been more muted, and it faces a continuation vote ...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, after the usual brief summary of market movements and the main headlines from the latest news from the investment trust sector, I speak first to Paul ffolkes Davis, chairman of Rising Sun Management, the investment adviser to Nippon Active Value (NAVF), the Japanese activist trust which has been going from strength to strength since its IPO in February 2020, taking over two of its peers, issuing more shares and currently having the distinction of being one of just a dozen trusts in the whole universe to be trading at a premium. After that, I s...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, after a short summary of market movements and the main headlines from the latest news from the investment trust sector, I speak first to Richard Pindar, CEO of Literacy Capital (BOOK) for an insider's view of what is happening in the private equity market and the outlook for NAVs and discounts from here, as well as the trust's interesting B share scheme proposal. Next, I speak to Ewan Lovett-Turner, head of investment trust research at Deutsche Numis, for one of our regular lookbacks at the first quarter in the markets and ahead to the opportuni...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, I discuss two very different topics - first, the outlook for emerging markets and secondly, what investment trust boards can do to improve their marketing if you agree, as Ed Warner suggested last week, that the best thing trusts on a big discount can do is "market the hell out of" their company. For the first, I speak to Austin Forey, the long-serving manager of J.P.Morgan Emerging Markets (JMG), and for the second I turn to Lucy Walker, who combines a professional career in fund selection and analysis with being the chair of the Aurora Investm...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, I discuss some of the more interesting and important news from the sector with one of my regular guests, Andrew McHattie, editor of the Investment Trusts newsletter. Among the trusts discussed are Scottish Mortgage, (SMT), Witan (WTAN), J.P.Morgan American (JAM), Literacy Capital (BOOK), Digital 9 Infrastructure (DGI9), Chrysalis (CHRY) and SDCL Energy Efficiency (SEIT). We also discuss ISAs as we approach the end of the financial year. Andrew reveals two of the six trusts that he is recommending for ISA portfolios this year. Latest trust pro...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, I have an extended conversation with Peter Spiller, the founder of CG Asset Management and manager of Capital Gearing Trust (CGT), about the state of the investment trust sector at present. Drawing on his experience of working for 50 years in the City, he gives his verdict on a range of current topics: liquidity, cost disclosure, regulation, tender offers, consolidation, discounts, buybacks and the all-important issue of corporate governance failings, citing examples such as Smithson (SSON), NextEnergy Solar (NESF) and BH Macro (BHMG). Definite...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, I talk to James Carthew, director of research at Quoted Data, and Craig Baker, chair of the investment committee at Alliance Trust (ATST). The latter has just reported some excellent annual results and appears to be making a strong comeback from the travails that raised questions about its viability a few years ago before the business was streamlined and repurposed around a single general equity trust. Its relatively low cost, "best ideas" multi-manager stock picking approach is distinctive in the investment trust universe and offers a genuine ...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, the 200th edition, I enjoy a three-way conversation with my original co-host Simon Elliott and Mark Dampier, the onetime head of research at Hargreaves Lansdown, the UK's largest private investor platform. He has retired from HL, but has plenty of experience as a non-executive director of three investment trusts, including currently Invesco Select. We discuss the rollercoaster ride that investment trusts have experienced since our first edition on in April 2020 and look ahead to the challenges that the sector faces today. (That first podcast inc...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, I talk to a first time guest, Sachin Saggar, one of the investment trust analysts at Stifel, about the specialist areas he covers, which include renewables, infrastructure and shipping. Following that I make a return call to Ben Conway, the head of fund management at Hawksmoor Investment Management, about the state of play on cost disclosure following the industry campaign in which he has played a prominent part. We discuss two other issues - liquidity and industry consolidation, where he argues that all-share mergers will do little to tackle p...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
On the podcast this week On this week's podcast, I have one of my regular catch-ups on all the latest news in the investment trust sector with Andrew McHattie, the editor of the Investment Trusts newsletter. Because of a late scheduling change the final part of the podcast, a conversation with Laura Foll, co-manager with James Henderson of three UK investment trusts, will only now happen on Monday, and we will publish that the following day. A reminder that Simon Elliott, my original podcast co-host, will be making a second comeback appearance in two weeks time to mark our 200th episode and to...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
© 2026 Money Makers