Weekly Investment Trusts Podcast - with Duncan MacInnes and Simon Elliott (22 Jul 2023)
In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to Duncan MacInnes, manager of the Ruffer Investment Company (RICA). Simon Elliott, client director at JPMorgan Asset Management and former co-host and co-founder of the podcast also returns after about a year off the show. Section Timestamps: 0:00:29 - This week's guests 0:01:39 - Sponsorship of the podcast 0:03:53 - The markets this week 0:07:20 - Announcements and results 0:13:58 - Corporate news 0:16:36 - Money Makers Circle 0:16:54 - Q&A with Duncan MacInnes 0:17:05 - Latest trust results 0:22:49 - Are markets losing touch with reality? 0:26:58 - Portfolio changes 0:29:33 - Thinking on commodities 0:32:13 - The demand for bonds 0:36:35 - Reaction to the derating of investment trusts 0:39:22 - Trust performance before and after crises 0:41:23 - The impact of politics 0:43:24 - Q&A with Simon Elliott 0:43:59 - About the sponsorship of the podcast 0:45:31 - Cause for the week's investment trusts sector bounce 0:47:34 - How bad is a fifteen percent discount historically? 0:49:23 - Selecting funds which may bounce back the fastest 0:52:26 - Consolidation 0:55:01 - The UK and sterling 0:56:28 - Share buybacks 0:59:19 - Upcoming trust losses in the sector 1:00:44 - Diverting to the cricket... and Barry Manilow 1:03:39 - Close Trusts mentioned this week (with tickers): TR Property (TRY), Tritax Big Box (BBOX), Warehouse REIT (WHR), Polar Capital Technology (PCT), TwentyFour Income Fund (TFIF), Gore Street Energy Storage (GSF), 3i Group (III), Brunner Investment Trust (BUT), Herald Investment Trust (HRI), Asia Dragon Trust (DGN), Abrdn New Dawn (ABD), Scottish Mortgage (SMT), LXi REIT (LXI), VH Global Sustainable Energy Opportunities Trust (GSEO), CT Property Trust (CTPT) / London Metric Property (LMP), JPMorgan Global Growth and Income (JGGI), JPMorgan American (JAM). 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. This week, as well as the regular features, the Circle features a profile of India Capital Growth (IGC). 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 our nearly 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.