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 - This week's biggest movers - Investment Trusts Handbook - Portfolio and video reviews - Appendices
What's new this week Our two latest podcast episodes feature Jim Mellon, the millionaire investor and philanthropist, explaining why he is buying investment trusts today and what he makes of the global markets in the Trump era, and another round-up call with Andrew McHattie, editor of the Investment Trusts newslet...
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UPDATE: Pershing Square launched a closed-ended fund in the US in April 2026, but it has yet to have much effect on PSH's own discount. Pershing Square made an offer for UMG in early 2026, but then sold its holding a few months later after failing to get support from UMG's management. PSH returned 21% in 2025 but -13% in the first six months of 2026.
PSH Pershing Square Holdings (ticker: PSH) was launched as a private fund at the end of 2012, listed on Euronext in October 2014, and in London in May 2017 (although there is a separate private fund that follows the same strategy that dates back ...
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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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