Exclusive to subscribers to the Money Makers Circle Contents - What's new this week - Latest trust profile - Trust and market news - Recent issuance and buybacks - Good reads - Videos and other recordings - Trust price and NAV performance - Z-scores - Investment Trusts Handbook - Appendices
What's new this week The latest episode of the podcast features my regular discussion of investment trust news with Andrew McHattie, the editor of the Investment Trusts newsletter. Trusts we discuss include Pantheon International (PIN), F&C (FCIT), Scottish Mortgage (SMT), Bluefield Solar (BSIF), Picto...
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Exclusive to subscribers to the Money Makers Circle Contents - What's new this week - Latest trust profile - Trust news over the past week - Recent issuance and buybacks - Good reads - Video reviews - Trust price and NAV performance - Z-scores - Investment Trusts Handbook - Appendices
What's new this week I have been in France this week, taking a break, but found time to record some reflections on the performance of the investment trust sector this year, drawing in part on some helpful recent research from Deutsche Numis. It includes a section on Saba Capital's possible next moves. (Please no...
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Henderson Smaller Companies (ticker: HSL) was launched in 1887. It has been a small-cap trust since 1982, but only entirely focused on UK small-caps since 1999. After a difficult period for HSL, Neil Hermon was appointed lead manager in November 2002, and he refocused its portfolio using a growth at a reasonable price (GARP) investing style. He went on to outperform his benchmark in 16 out of 22 years, with an annualised NAV return of 12.1% and an excess return of 1.7 percentage points per year, assisted by an average gearing level of some 10%. Hermon retired last month, and Indriatti van Hien...
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Contents As the content of the weekly email continues to expand (and we aspire to offer you the most comprehensive range of independent information for anyone interested in investment trusts), from this week we have added a set of content links, just below this paragraph, that can take you quickly to the different sections of the email. We will be adding yet further new content to the email over the next few weeks and while it should still be very straightforward to scroll through in one go, you might find it helpful to be able to skip from one part to the other directly. Feedback is welcome, ...
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Contents As the content of the weekly email continues to expand (and we aspire to offer you the most comprehensive range of independent information for anyone interested in investment trusts), from this week we have added a set of content links, just below this paragraph, that can take you quickly to the different sections of the email. We will be adding yet further new content to the email over the next few weeks and while it should still be very straightforward to scroll through in one go, you might find it helpful to be able to skip from one part to the other directly. Feedback is welcome, ...
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On the podcast this week This week's podcast features a three-way conversation with two of our most popular speakers, Nick Greenwood, manager of MIGO Opportunities (MIGO), the special situations trust investor whose management contract recently migrated from Premier Miton to Asset Value Investors, and Ben Conway, the impressive young head of fund management at Hawksmoor Fund Management, best known for his prominent role in helping to co-ordinate and publicise the campaign to end the regulatory cost disclosure discrimination investment trusts struggle with. Our conversation ranges widely acros...
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This is the fifth in our new regular weekly feature, an email to subscribers that summarises both our latest thoughts and all the regular bonus features you will find as a premium subscriber to the Money Makers Circle. Thank you again for the positive feedback, but do feel free to continue sending your thoughts (to editormm124@gmail.com). This week's email is again abbreviated because of the lingering holiday period. New features that will be added week by week over the coming weeks include lists of my favourite funds, sector and individual trust performance notes and videos, interesting reads...
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