189: Weekly Investment Trusts Podcast - with Anthony Leatham and Will Fraser-Allen (16 Dec 2023)

Money Makers

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Anthony Leatham, head of investment trust research at Peel Hunt, and Will Fraser-Allen, managing partner of Albion Capital and chairman of the Venture Capital Association. We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:39 - Review of the week 0:03:00 - This week's guests 0:03:40 - Money Makers Circle 0:04:11 - Corporate news and announcements 0:06:47 - Summary of results 0:09:13 - The Investment Trusts Handbook 2024 0:11:10 - Q&A with Anthony Leatham 0:11:44 - Looking at the week 0:16:41 - The cost disclosure issue 0:22:58 - Share buy backs 0:29:14 - Battery storage trusts 0:32:14 - Digital infrastructure 0:35:49 - Consolidation 0:39:23 - Q&A with Will Fraser-Allen 0:40:05 - A look at what VCTs do 0:43:36 - Regulations around VCTs 0:46:30 - The outlook for VCT fundraising 0:48:33 - Characterising performance 0:54:06 - How to approach VCT investments 0:57:03 - Distinguishing between trusts 0:59:30 - The impact of the consumer duty and fees 1:03:56 - Current worries 1:04:58 - Best case outcomes 1:08:55 - Close Trusts mentioned this week (with tickers): Abrdn Diversified Income and Growth (ADIG), Triple Point Energy Transition (TENT), GCP Asset Backed Income (GABI), Invesco Select (IVPU), J.P.Morgan China Growth and Income (JCGI), Henderson European Focus (HEFT), J.P.Morgan Indian (JII), Schroder UK Mid Cap (SCP), Polar Capital Global Healthcare (PCGH), J.P.Morgan Asian Growth and Income (JAGI), GCP Infrastructure (GCP), Polar Capital Technology (PCT), Montanaro European Smaller Companies (MTE), Taylor Maritime (TMI), J.P.Morgan European Discovery (JEDT), STS Global Income and Growth (STS), Miton UK Micro Cap (MINI), Ashoka WhiteOak Emerging Markets (AWEM), Gore Street Energy Storage (GSF), Global Smaller Companies Trust (GSCT), Worldwide Healthcare (WWH), Schiehallion (MNTN), Chrysalis (CHRY), Gresham House Energy Storage (GRID), Digital 9 Infrastructure (DGI9), European Opportunities Trust (EOT), Albion VCT (AAVC), Albion Development VCT (AADV), Albion Enterprise VCT (AAEV), Albion Technology and General VCT (AATG). 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 VinaCapital Vietnam Opportunity (VOF). Future profiles coming soon include J.P.Morgan UK Smaller Companies (JMI) and Schroder Asian Total Return (ATR). Also, remember to look out for the second of our new weekly emails summarising Jonathan's latest thoughts alongside all of the regular features available in the Circle. 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 190 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.