In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Nicholas Weindling, manager of the JPMorgan Japanese Investment Trust (JFJ), and Ross Driver, co-manager of the Foresight Solar Fund (FSFL).
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. This week, as well as the regular features, the Circle features comments on the current outlook in the wake of the collapse of Silicon Valley Bank and issues around other banks, and a profile of the European Smaller Companies Trust (ESCT). Next week, the Circle will feature of profile of Harmony Energy Income Trust (HEIT). A subscription costs £8 a month, or a modest £2 a week.
Contagion spreads following Silicon Valley Bank collapse
0:00:29 – A podcast milestone
0:00:57 – This week’s guests
0:01:50 – Money Makers Circle
0:02:44 – Review of the week
0:06:16 – Summary of the week’s results and announcements
0:13:55 – Q&A with Nicholas Weindling
0:16:56 – The impact of currency on performance
0:18:37 – When does the trust do well, and when does it lag the market
0:19:50 – Attractiveness of company valuations
0:22:16 – Optimism about Japan
0:25:18 – Attracting overseas investors
0:27:03 – A new central bank governor and monetary policy implications
0:29:45 – Differences with this trust versus others
0:33:14 – Q&A with Ross Driver
0:36:29 – Last year’s results
0:39:03 – Proportion of revenue from the UK
0:43:22 – Other sources of revenue and taking on extra risk
0:48:22 – Impact of windfall taxes
0:55:31 – Non-subsidised solar in the UK
0:56:39 – Investors’ concerns
1:02:14 – The balance sheet
1:04:25 – The dividend target
1:05:40 – Close
Trusts mentioned in this week’s podcast (with tickers) include:
- HG Capital Trust (HGT)
- Allianz Technology Trust (ATT)
- Witan Investment Trust (WTAN)
- JPMorgan Claverhouse Investment Trust (JCH)
- AVI Japan Opportunity Trust (AJOT)
- Schroder Asian Total Return (ATR)
- Foresight Solar Fund (FSFL)
- Premier Miton Global Renewables Trust (PMGR)
- Home REIT (HOME)
- Ediston Property Investment Compnay (EPIC)
- Abrdn Latin American Income Fund (ALAI)
- Rights and Issues Investment Trust (RIII)
- Supermarket Income REIT (SUPR)
- Literacy Capital (BOOK)
- Scottish Mortgage Trust (SMT)
- JPMorgan Japanese Investment Trust (JFJ)
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.