Kepler Trust Intelligence Podcast

Market matters with Charlotte Cuthbertson, manager of MIGO

In our new monthly podcast, we bring you big picture insights from leading investment specialists, exploring the opportunities, challenges and potential threats shaping investors’ portfolios.
Our first guest is Charlotte Cuthbertson, co-manager of the MIGO Opportunities Trust (MIGO) which specialises in discount opportunities in the investment trust universe. Charlotte has extensive experience in the asset management industry, with a particular specialism in investment trusts.
In this month’s episode, we discuss a wide range of issues from the discount opportunities in the investment trust universe to the key drivers of stock market performance over the next year against a backdrop of political and macroeconomic change.
00:00 Introduction
00:39 Background to becoming a fund manager
02:24 How to identify and mitigate the risk of discount opportunities?
05:59 Does diversification matter for investors seeking discounted investment trusts?
07:15 Recent tactical allocation changes in terms of sectors?
08:55 How to mitigate geopolitical risk for single-country holdings?
09:52 What surprised you the most about the stock market this year?
10:51 Are you worried about the dominance of the Magnificent Seven?
12:38 What are the likely stock market drivers over coming months?
14:02 What sectors might perform well in the next year?
15:05 Why should investors look at investment trusts above low-cost passive funds?
17:08 Further information
17:35 Risk warning
 
 

Monthly round-up of investment trust news

Jo Groves and Ryan Lightfoot-Aminoff from Kepler Trust Intelligence discuss the most notable news and interviews in the investment trust world in September.
We discuss the triple whammy of news from Chrysalis Investments, the impact on AVI Global and the final details of the Alliance Trust-Witan merger.
We also bring you the highlights from our latest webinar series on global equities in a year of change, with Tom O’Hara and Jamie Ross, managers of Henderson European Trust, Iain Pyle from Shires Income and finally, Dean Orrico of Middlefield Canadian Income.
Finally, we run the rule over the most bought and sold shares and investment trusts by UK retail investors in September. NVIDIA slipped down the most-bought shares table while Scottish Mortgage held onto top honours as the most-bought trust but which other companies dominated investors’ buy and sell lists?
0:00 Welcome
0:13 News from Chrysalis Investments
02:59 Impact on AVI Global
04:00 Final details of the Alliance Trust-Witan merger
05:18 Global equities in a year of change event round-up
05:33 Henderson European Trust
08:00 Shires Income
10:27 Middlefield Canadian Income
12:10 Most bought & sold shares in September
13:40 Most bought investment trusts in September
15:44 Risk warning

Trust Issues - investing in commodities with BRWM manager Olivia Markham

In this episode of Trust Issues, we speak to Olivia Markham, co-manager of BlackRock World Mining, about the opportunity for investors in the commodities sector and the strong secular tailwinds from the energy transition.
00:00 Introduction
00:18 Overview of the fund and current weightings
01:30 Allocation to private assets
02:32 Why the sector lends itself to active management
03:30 Recent drivers of copper, gold and silver prices
07:31 Outlook for demand from China
09:35 Thoughts on M&A in the mining sector
10:56 Future commodity demand from the energy transition and AI revolution
13:28 Likely rise in expansionary capex
14:25 Further information
14:50 Risk warning
 
Our latest note on BRWM - https://www.trustintelligence.co.uk/investor/articles?fund_id=5
BRWM website - https://www.blackrock.com/uk/solutions/investment-trusts/our-range/blackrock-world-mining-investment-trust/trust-information 

Monthly round-up of investment trust news

Jo Groves and Ryan Lightfoot-Aminoff from Kepler Trust Intelligence discuss the most notable news in the investment trust world in August.
Thomas McMahon, head of investment companies research at KTI, joins us to talk through the launch of Aberforth Geared Value & Income, including some of the potential benefits and returns for investors.
Ryan provides a run-down on the latest developments at The PRS REIT, which provides exposure to new-build family homes for the private rental market, as well as the wider implications of the new share buyback programme at The Renewables Infrastructure Group.
We round things off with an overview of the most bought and sold shares and trusts by UK investors in August across four of the largest investment platforms. Nvidia, Vodafone and L&G topped the most bought shares table, with Rolls Royce heading up the sell lists.
And Scottish Mortgage, Greencoat UK Wind, JP Morgan Global Growth & Income, Alliance Trust and HgCapital were the top five most bought investment trusts in August.
00:30 AVGI: Background
03:03 AVGI: Benefits of structure for investors
04:52 AVGI: Potential returns for investors
06:49 Developments of the PRS REIT
10:18 Share buyback programme at TRIG
12:48 The most bought and sold shares by UK investors
14:26 The most bought investment trusts by UK investors
18:10 Risk warning

Monthly round-up of investment trust news

Jo Groves and Ryan Lightfoot-Aminoff from Kepler Trust Intelligence discuss the most notable news, reviews and interviews in the investment trust world in June.
We talk about the merger of Alliance Trust and Witan, alongside the unsuccessful IPO of the Special Opportunities REIT and the newly-announced enhanced dividend and discount management policy for Schroder Japan.
We also bring you the highlights from our recent small-cap webinar series with Nish Patel, manager of the Global Smaller Companies Trust, Gervais Williams, manager of Miton UK MicroCap and, finally, Joe Bauernfreund of AVI Japan Opportunity Trust.
We round things off with the key talking points from our recent interview with Richard Sennitt, manager of Schroder Oriental Income, as well as results from Cordiant Digital Infrastructure and Sequioa Economic Infrastructure.
0:00 Welcome
00:26 Merger of Alliance Trust and Witan
01:31 Wider implications on the sector
03:13 Unsuccessful IPO of Special Opportunities REIT (SOR)
04:40 Opportunities for REIT investing
06:20 New dividend and discount management policy for Schroder Japan
08:44 Overview of small-cap event
09:23 Global Smaller Companies Trust
12:00 Miton UK MicroCap
13:41 AVI Japan Opportunity Trust
15:42 Schroder Oriental Income
18:55 Cordiant Digital Infrastructure results
20:37 Sequoia Economic Infrastructure results
16:11 Risk warning

Trusts in Focus: Schroder Japan

Trusts in Focus: We look at the enhanced dividend and discount management policy for Schroder Japan
In this episode of Trusts in Focus, we discuss the newly-announced enhanced dividend and discount management policy for Schroder Japan, together with our view on the trust and the wider Japan sector.
00:00 Introduction
01:06 Overview of enhanced dividend policy
04:30 Overview of discount management policy
05:54 Our views on the trust
09:07 Our views on the wider implications
10:32 Our views on the broader Japanese sector
13:18 The effect of recent initiatives
15:29 Risk warning
 
Our latest note on SJG  - https://www.trustintelligence.co.uk/investor/articles?fund_id=38
SJG website - https://www.schroders.com/en-gb/uk/individual/funds-and-strategies/investment-trusts/schroder-japan-trust/9
 

Trust Issues - investing in the Asian income story with SOI manager Richard Sennitt

In this episode of Trust Issues, we speak to Richard Sennitt, manager of Schroder Oriental Income, about the opportunity for investors in the Asian income sector which offers access to world-leading companies in the region.
 
00:00 Introduction
00: 14 Overview of the fund and current portfolio
02:07 Assessing value and key investment attributes
03:32 Why active management matters and key differentiating factors
04:58 Is the region overlooked by income seekers?
06:43 Key drivers for capital growth
07:45 Recent performance
10:15 Managing downside risk
11:29 Which parts of the market are interesting?
13: 35 Will a fall in US interest rates be a tailwind?
 
Our latest note on SOI -https://www.trustintelligence.co.uk/investor/articles?fund_id=60
SOI website - https://tinyurl.com/4svwxs53
 

The investment opportunity in renewable infrastructure with Greencoat UK Wind

In this episode of Trust Issues, we speak to Stephen Lilley, manager of Greencoat UK Wind, about the opportunity for investors in renewable infrastructure, including the strong secular growth drivers for UK wind infrastructure.
00:00 Introduction & performance highlights
03:40 Is the opportunity still as compelling as it was at launch?
08:24 How healthy are underlying dividends from power companies?
12:18 The effect of rising rates
16:14 Does it matter who wins the general election?
20:09 Risk warning

Monthly round-up of investment trust news

Jo Groves and Ryan Lightfoot-Aminoff from Kepler Trust Intelligence discuss some of the most notable news stories in the investment trust world over the past month.
We talk about the latest news for Scottish Mortgage, Henderson and Pantheon International, as well as results for Schroder AsiaPacific and Oriental Income.
We also bring you some of the highlights from our recent podcasts with Richard Staveley, manager of Rockwood Strategic, and Christopher Berrier, manager of Brown Advisory US Smaller Companies.
0:00 Welcome
0:17 Scottish Mortgage
4:43 Henderson
6:34 Pantheon
7:54 Rockwood (UK small-caps)
10:52 Brown Advisory US Smaller Companies
13:42 Schroders AsiaPacific & Oriental Income
16:11 Risk warning

Investing in US small-caps with BASC

In this episode of Trust Issues, we speak to Christopher Berrier, manager of Brown Advisory US Smaller Companies, about the opportunity for investors in the US small-cap sector, including recent performance and why the US small-cap sector lends itself well to active management.