Insider Interview

Co-managed by Raheel Altaf, the Artemis SmartGARP Global Equity fund, which appears in interactive investor’s Super 60 list of rated funds, invests globally but currently has a bias towards emerging markets and value shares.
 
Altaf explains to interactive investor’s Sam Benstead why position sizes are kept small but the fund still manages to look very different from the index, and why cheap valuations do not have to signal slow-growing companies. He also goes into detail about their overweight to UK shares and which companies they like there, as well as other markets and sectors the fund is invested in.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

The shares and sectors our algorithm is telling us to buy

JPMorgan Claverhouse is part of the eight-strong investment trust club that have consistently raised their dividends for 50 years or more. Fund manager William Meadon tells interactive investor’s Collectives Editor Kyle Caldwell how the trust’s approach of owning both growth and value stocks strikes an appropriate style balance, and names the high-yielding shares and sectors the trusts focuses on to deliver market-beating income (4.8% at the time of the recording in early February).
 
Meadon also explains why the “era of get-rich-quick is over”, and why he is adopting a more cautious stance than usual until the “investment skies clear a bit more”.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

The high-yielding shares powering this income heavyweight

Roberta Barr, manager of the Schroder Global Sustainable Value Equity fund, speaks to interactive investor deputy collectives editor Sam Benstead about how the strategy is managed. 

She goes into detail about the environment, social and governance (ESG) policies of the fund, and reveals which companies she thinks are both undervalued and ESG leaders.  

Barr also speaks about why Europe and British stocks are better bets for value investors than US shares.  

The fund is a member of interactive investor’s ACE 40 list of recommended sustainable funds. It took on an ESG mandate and was repurposed from the Schroder Responsible Value UK Equity in July 2021.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Four cheap shares Schroders is excited about

Roberta Barr, manager of the Schroder Global Sustainable Value Equity fund, speaks to interactive investor deputy collectives editor Sam Benstead about how the strategy is managed. 

A value fund with a sustainable investment mandate, she explains why picking cheap shares is a far better investment strategy than buying expensive but faster-growing shares.  

Barr also reveals which shares she is excited about for 2023, and why focusing too much on macroeconomic factors, such as interest rates, is unhelpful for investors.  

The fund is a member of interactive investor’s ACE 40 list of recommended sustainable funds. It took on an ESG mandate and was repurposed from the Schroder Responsible Value UK Equity in July 2021.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Why value shares can keep outperforming growth shares

interactive investor’s collectives editor Kyle Caldwell speaks to the UK’s very own Warren Buffett, Keith Ashworth-Lord, manager of the CFP SDL UK Buffettology and CFP SDL Free Spirit funds. 

In the interview, Ashworth-Lord names two shares that are relatively immune to a recession, runs through a favourite holding he could never envisage selling, and explains why two shares have recently exited the portfolio. He also gives his views on Buffett’s take on the active versus passive fund debate.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Buffettology fund: two recession-proof shares, and one buy and hold forever stock

interactive investor’s collectives editor Kyle Caldwell speaks to the UK’s very own Warren Buffett, Keith Ashworth-Lord, manager of the CFP SDL UK Buffettology and CFP SDL Free Spirit funds. 

In the interview, Ashworth-Lord addresses short-term performance coming off the boil, explains how he applies Warren Buffett's principles, and names the most recent share purchases.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Buffettology fund interview: latest buys, and why performance will bounce back

Dale Nicholls, manager of the Fidelity China Special Situations investment trust, tells interactive investor’s Collectives Editor Kyle Caldwell why he thinks the outlook has much improved for investing in China. Nicholls explains how he moved to take advantage of low sentiment and cheaper valuations, names a favoured consumer stock and gives his opinion on the regulatory headwinds that have held the market back in 2022. He also gives his view on recent performance, which saw the trust’s share price fall around 50% from 1 February 2021 to the end of October 2022.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

China is volatile, but the future for stock investors is bright

Dale Nicholls, manager of the Fidelity China Special Situations investment trust, explains how he is seeking to profit from two big trends – the rise of the middle class and China’s shift towards a more consumption-driven economy. Nicholls, who seeks to find the “best ideas”, picks out two favourite shares from the tech and industrial sectors. Nicholls also explains why investors should be backing China and reveals that he has upped his own ‘skin in the game’ over the past year.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Fidelity China Special Situations trust: two of my favourite shares

This fund takes a “systematic” approach to picking stocks. Its computer model trawls through thousands of data points to find the best opportunities, then a human team overseas the buying and selling of shares.
 
Co-managed by Raheel Altaf, the Artemis SmartGARP Global Equity fund, which appears in interactive investor’s Super 60 list of rated funds, invests globally but currently has a bias towards emerging markets and value shares.
 
Altaf explains to interactive investor’s Sam Benstead why a human and computer-driven approach to investing is successful and why the portfolio is so concentrated in cheap stocks at the moment. He also reveals why the fund sold tech stocks last year and why Asian firms will make good investments.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Our algorithm has never been so bullish on value shares

Veteran UK stock picker Richard Buxton has been investing in British stocks for nearly 40 years. His fund, now called Jupiter UK Alpha after Jupiter Asset Management acquired Merian Global Investors in 2020, is a long-term investor in large British companies.  

Buxton sits down with interactive investor’s Sam Benstead to chat about where he is finding opportunities at the moment and why the UK economy is stronger position than you might think.  

He also reveals the companies he has held for more than 20 years and explains why they make such compelling investments.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Richard Buxton: the stocks I've held for 20 years

Charles Jillings, manager of the Utilico Emerging Markets investment trust, sits down with interactive investor’s Sam Benstead to discuss his approach to investing, which focuses on investing in infrastructure, utilities and communications, across emerging markets.

He breaks down why such companies make compelling investments, and explains why understanding local rules and regulations is key to what they offer investors in the investment trust. 

Utilico Emerging Markets is a member of interactive investor’s Super 60 list of recommended funds.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Why these three areas are long-term winners

Charles Jillings, manager of the Utilico Emerging Markets investment trust, sits down with interactive investor’s Sam Benstead to discuss his approach to investing. He breaks down the strong income and growth potential of emerging market stocks that provide critical infrastructure, transport and communications services. 

Jillings talks about some of his favourite stocks, including a waste removal and recycling firm in Brazil and airport operators in Mexico.  

Utilico Emerging Markets is a member of interactive investor’s Super 60 list of recommended funds.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Growth and 4% income from overlooked emerging market stocks

Alliance Trust has increased its dividend for 56 consecutive years. Craig Baker, of Willis Towers Watson, which manages Alliance Trust, explains why there’s plenty of runway for its progressive dividend policy to continue.
 
Baker also explains to interactive investor’s collectives editor Kyle Caldwell how the investment trust is designed to look very different from a global index, and runs through recent changes in the portfolio, including why some of its stock pickers have been adding to US tech.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Why this dividend hero is a reliable income payer

Six years ago, Alliance Trust changed fund manager and strategy – moving to a multi-manager structure. Craig Baker, of Willis Towers Watson, which manages Alliance Trust, gives his take on how performance has fared, and why he thinks going forward there will be easier periods to beat the global index it measures its performance against.
 
Baker also tells interactive investor’s collectives editor Kyle Caldwell how he decides whether to hold or fold when a fund manager is underperforming, discusses some stock pickers switching out of value shares in favour of US tech, and provides his market outlook for the months ahead.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

How Alliance Trust has fared since its strategy shake-up

Henry Dixon, fund manager of Man GLG Income, sits down with interactive investor’s collectives editor Kyle Caldwell to discuss the cheap valuations on offer in the ‘unloved’ UK equity market. Dixon discusses how he is investing in a rising interest rate environment, names two stocks he’s finding plenty of value in, and explains why he is a fan of the banking sector, using the recent turmoil to up his stake in his favoured play.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Two value stock opportunities, and the bank share I’ve been buying

The Man GLG Income fund, managed by Henry Dixon, aims to provide a dividend yield well in excess of the FTSE All-Share Index, as well as paying a monthly income. 

In this interview with interactive investor’s collectives editor Kyle Caldwell, Dixon names the three types of opportunities he looks to invest in. Dixon explains how he assesses the sustainability of a dividend to avoid potential ‘value traps’, names a couple of high-yielding shares he is backing, and details how he factors in capital growth when sizing up dividend stocks.
 
Man GLG Income is a member of interactive investor’s Super 60 list.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

The high-yielding shares I am backing to deliver market-beating income

Investing in high-yielding UK shares, Merchants Trust is a popular choice for income investors. Managed by Simon Gergel, it has racked up 41 consecutive dividend increases, and the trust has no intention of breaking its record. 

Gergel speaks to interactive investor’s Sam Benstead about how he manages the portfolio, including his views on oil and tobacco companies and how it has managed to keep paying investors a rising dividend.  

He also speaks about where he looks for income opportunities, including which shares he likes at the moment.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Merchants Trust: we yield 5% and will keep growing our dividends

Investing in high-yielding UK shares, Merchants Trust is a popular choice for income investors. Managed by Simon Gergel, it has racked up 41 consecutive dividend increases, and the trust has no intention of breaking its record. 
 
Gergel speaks to interactive investor’s Sam Benstead about the income stocks he’s been buying and selling this year, and goes into depth about why the UK is a great place to hunt for income shares at the moment. 
 
He also reveals the shares and sectors he thinks the market is overlooking, which have high yields and are in a strong financial position.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Merchants Trust: the income stocks we’ve been buying and selling

Over the past 10 years, Greencoat UK Wind has managed to increase its dividend in line with RPI inflation each year. In our latest Insider Interview, Stephen Lilley, its fund manager, explains why this dividend aim is sustainable in the coming years, due to how secure and predictable the income is that's being generated. Lilley tells Kyle Caldwell, interactive investor’s Collectives Editor, how the renewable energy infrastructure investment trust strikes a balance between paying the dividend and reinvesting capital. He also gives an overview of the main attractions of investing in wind assets, and plays down the prospect of political risk negatively impacting the way the trust invests.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Why our RPI inflation dividend target is sustainable

Stephen Lilley, fund manager of Greencoat UK Wind, tells interactive investor’s Collectives Editor Kyle Caldwell, why he feels it is unjust that the investment trust is trading on a rare discount. Lilley also gives his outlook on prospects, makes the investment case for wind assets over other forms of renewable energy infrastructure, and explains that board members have been increasing their personal stakes to take advantage of its discount, which currently stands at over 10%.

Important information:
This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. Past performance is not a guide to future performance. The investments referred to may not be suitable for all investors, and if in doubt, you should seek advice from a qualified investment adviser. SIPPs are aimed at people happy to make their own investment decisions. Investment value can go up or down and you could get back less than you invest. You can normally only access the money from age 55 (57 from 2028). We recommend seeking advice from a suitably qualified financial adviser before making any decisions. Pension and tax rules depend on your circumstances and may change in future. If you are in any doubt about the suitability of a Stocks & Shares ISA, you should seek independent financial advice. The tax treatment of this product depends on your individual circumstances and may change in future. If you are uncertain about the tax treatment of these products, you should contact HMRC or seek independent tax advice. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Greencoat UK Wind: interest rate rises have left us grossly underpriced

The interactive investor (ii) experts bring you the latest news, views and interviews from the heart of the City of London, including market updates, fund ideas and investing insight for all savers and investors.

Visit www.ii.co.uk for more investment insight and ideas.