Weekly Investment Trusts Podcast - with Andrew McHattie and Ben Conway (02 Sep 2023)
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. Section Timestamps: 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 0:12:44 - Happenings in the sector over the last couple of months 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 0:35:33 - Regulatory changes and cost disclosures 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 this week (with tickers): 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). If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. his week, as well as the regular features, the Circle features a profile of JPMorgan European Discovery (JEDT). For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to more than 170 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.