In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by two experts on financial history, Russell Napier, global market strategist and founder of the Library of Mistakes in Edinburgh, and Edward Chancellor, historian and author of The Price of Time, to put the dramas of Trump 2.0 in context.

This discussion was recorded on 25 March 2025 at the Weekend of Mistakes in Hay-on-Wye.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.

Next week Jonathan will be speaking and signing copies of the Handbook at the Master Investor show in London on March 29th.
***


Section Timestamps:
0:00:24 - Introduction
0:01:33 - Putting the Trump presidency into historical context
0:04:36 - Market reactions
0:06:50 - Trump’s motivations and agenda
0:11:52 - Will Scott Bessent reign in Trump’s more extravagant proposals?
0:16:00 - A short break
0:16:56 - Returning to capital controls and a loss of independence in central banks?
0:22:21 - Anticipating a change in market style
0:25:34 - Gold
0:27:58 - Putting on a hard hat
0:29:50 - The Library of Mistakes, London
0:30:36 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of Baillie Gifford US Growth (USA). Future profiles include Invesco Global Equity Income (IGET) and RIT Capital Partners (RCP). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 260 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.

265: Money Makers Investment Trusts Podcast - Russell Napier, Edward Chancellor (26 Mar 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Neil Rogan, chairman of Invesco Asia Dragon (IAD) and Baillie Gifford UK Growth (BGUK), and a non-executive director at J.P.Morgan Global Growth and Income (JGGI). 

This discussion was recorded on Monday 24 March 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.

This weekend, on 29 March, Jonathan will be speaking and signing copies of the Handbook at the Master Investor show in London.
***


Section Timestamps:
0:00:24 - Introduction
0:02:03 - Upcoming podcast anniversary
0:04:01 - Reflecting on sector consolidation over the past six years
0:06:28 - Changes to the investment trusts world in the last forty years
0:11:02 - Factors persuading the market to allow big discounts
0:14:10 - Invesco Asia Dragon (IAD)
0:21:18 - Is the IAD process a template for others to follow?
0:22:33 - Performance related tenders
0:24:38 - A short break
0:25:34 - Activism and consolidation
0:31:33 - Discount target for Invesco Asia Dragon
0:33:54 - J.P.Morgan Global Growth and Income (JGGI)
0:36:51 - Baillie Gifford UK Growth (BGUK)
0:41:46 - Is the trust industry facing an existential crisis?
0:44:50 - Interpreting the world today and the effect of the Trump administration
0:48:27 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of Baillie Gifford US Growth (USA). Future profiles include Invesco Global Equity Income (IGET) and RIT Capital Partners (RCP). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 260 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.

266: Money Makers Investment Trusts Podcast - with Neil Rogan (29 Mar 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Richard Horlick, chairman of BH Macro. 

This discussion was recorded on Monday 31 March 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***

Section Timestamps:
0:00:24 - Introduction
0:00:59 - What is distinctive about BH Macro?
0:04:07 - Managing volatility
0:08:19 - The discount and buybacks
0:09:50 - Understanding costs
0:16:11 - A short break
0:17:07 - The trust in light of world events
0:29:24 - Looking to the future
0:31:30 - The UK equity market and BH Macro’s listing
0:34:28 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of Invesco Global Equity Income (IGET). Future profiles include RIT Capital Partners (RCP) and River UK Micro Cap (RMMC). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 270 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.

267: Money Makers Investment Trusts Podcast - with Richard Horlick (03 Apr 2025)

This week, the Money Makers Investment Trusts Podcast turns five years old. Started at a time of market turmoil as the then-emerging Covid pandemic resulted in lockdowns, 268 episodes later market drama is back in the headlines again as Donald Trump imposes trade tariffs that have sent worldwide indices plummeting. It has hit investment trusts hard - sign up for the weekly Money Makers email for all the details, some commentary and a comprehensive summary of all the latest trust news.

In this edition of the podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Alexander Fitzalan Howard, manager of the J.P. Morgan European Growth and Income Trust (JEGI). 

This discussion was recorded on Tuesday 01 April 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***


Section Timestamps:
0:00:24 - The anniversary edition and more market turmoil
0:05:41 - This week’s guest
0:06:50 - Talking to Alexander Fitzalan Howard
0:07:38 - Interesting times and Trump’s tariffs
0:09:29 - The significance of developments in Germany and France
0:12:33 - ECB interest rate cuts
0:13:28 - The strength of European stock markets since the return of Trump
0:15:18 - The trust’s performance versus the peer group
0:19:56 - Looking at the trust amongst sector events
0:21:18 - The discount policy
0:21:49 - A short break
0:22:44 - The pros and cons of a closed end structure
0:26:13 - Looking back at activities over the past twelve months
0:28:31 - Valuation of the portfolio
0:30:45 - Stand out performance in the last twenty years
0:34:26 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of Invesco Global Equity Income (IGET). Future profiles include River UK Micro Cap (RMMC) and RIT Capital Partners (RCP). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our nearly 270 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 - www.bgprofessional.co.uk

268: Money Makers Investment Trusts Podcast - with Alexander Fitzalan Howard (05 Apr 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Andrew McHattie, editor of the Investment Trusts newsletter. 

This discussion was recorded on 17 April 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***


Section Timestamps:
0:00:24 - Introduction
0:01:09 - Thoughts on the fallout from Trump’s tariff regime
0:05:30 - The performance of battery storage and renewables trusts
0:07:18 - Sector news, consolidation and Urban Logistics (SHED)
0:10:07 - Life Science REIT (LABS)
0:12:04 - The European Smaller Companies Trust (ESCT) deal with Saba Capital
0:18:19 - Share price performance of the seven trusts targetted by Saba
0:21:30 - A short break
0:22:26 - Abrdn Diversified Income and Growth (ADIG)
0:24:47 - Fidelity Japanese Values (FJV)
0:28:38 - Polar Capital Financials (PCFT)
0:31:33 - Henderson Far East Income (HFEL)
0:34:49 - Third Point Offshore Investors (TPOU)
0:40:29 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of RIT Capital Partners (RCP). Future profiles include HgCapital Trust (HGT) and Law Debenture (LWDB). Subscribers can also still see Jonathan's video looking at investment trust performance in the context of recent developments in the markets. Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our 270 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 - www.bgprofessional.co.uk

270: Money Makers Investment Trusts Podcast - with Andrew McHattie (19 Apr 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Dale Nicholls, manager of Fidelity China Special Situations (FCSS). 

This discussion was recorded on Tuesday 22 April 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***


Section Timestamps:
0:00:24 - Introduction
0:00:53 - Reaction to the US-China trade war
0:03:35 - Managing and positioning the portfolio
0:06:40 - Gearing
0:08:54 - The mood in China
0:09:30 - Movements in the dollar
0:10:36 - The price of the Chinese equity market
0:12:08 - Shareholder response and behaviour
0:13:49 - A short break
0:14:44 - Unlisted holdings
0:16:24 - AI
0:19:37 - Biggest risks
0:20:44 - Looking forward and making the case for China
0:24:52 - Close



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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of HgCapital Trust (HGT). Future profiles include Law Debenture Corporation (LWDB) and European Opportunities (EOT). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 270 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 - www.bgprofessional.co.uk

271: Money Makers Investment Trusts Podcast - with Dale Nicholls (23 Apr 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Dan Higgins, fund manager for the Majedie Investment Trust (MAJE), a multi-asset vehicle that as of two years now pursues a "liquid endowment" strategy and comes with a promise that it will never blame external events for any underperformance of its inflation plus 4% minimum annualised return target. It is fair to say that while it is still early days performance since the mandate change has comfortably exceeded that target.

This discussion was recorded on 23 April 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***


Section Timestamps:
0:00:24 - Introduction
0:00:58 - Reaction to the Trump administration
0:04:40 - The problems built up by the US in recent years
0:07:16 - Reflecting on recent performance amidst the Trump turmoil
0:12:08 - The role of gold in Majedie’s strategy
0:19:38 - A short break
0:20:45 - Allocating opportunities to different strategies
0:26:58 - Analysis of correlations
0:28:51 - Bringing in the discount
0:34:04 - Resources to keep on top of the strategies
0:41:12 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of HgCapital Trust (HGT). Future profiles include Law Debenture Corporation (LWDB) and European Opportunities (EOT). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 270 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 - www.bgprofessional.co.uk

272: Money Makers Investment Trusts Podcast - with Dan Higgins (26 Apr 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Laura Elkin, lead manager of AEW UK REIT (AEWU), and Maggie Fanari, CEO of RIT Capital (RCP).

These discussions were recorded on 01 May 2025 and 27 March 2025 respectively.

*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***


Section Timestamps:
0:00:24 - Introduction
 - 0:00:41 - Talking to Laura Elkin, AEW UK REIT
 - 0:01:42 - AEWU’s Q1 2025 results
 - 0:02:57 - Valuations across the commercial property sector
 - 0:04:55 - Asset management and adding value
 - 0:12:32 - Raising more capital and issuing new equity
 - 0:13:28 - Scope for consolidation in the sector
 - 0:17:16 - Risks to continued strong performance
 - 0:20:55 - Dividend policy
0:24:53 - A short break
 - 0:25:59 - Talking to Maggie Fanari, RIT Capital Partners
 - 0:26:18 - How Maggie became CEO of RCP
 - 0:27:49 - Characterising RCP’s performance issues
 - 0:29:46 - How the brand lost its luster
 - 0:33:23 - Reasons for the significant discount
 - 0:35:35 - The cost disclosure issue
 - 0:38:46 - The driver for reducing private investments
 - 0:39:30 - How the operating environment might develop
 - 0:42:22 - Characterising performance
 - 0:43:11 - The value of the dollar
 - 0:44:22 - Lessons from managing a Canadian pension fund
 - 0:47:22 - The buyback programme
 - 0:49:13 - The RIT Capital offer
0:51:45 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of Law Debenture Corporation (LWDB). Future profiles include European Opportunities (EOT) and J.P.Morgan US Smaller Companies (JUSC). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 270 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 - www.bgprofessional.co.uk

273: Money Makers Investment Trusts Podcast - with Laura Elkin and Maggie Fanari (03 May 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Mark Boggett, CEO of Seraphim Space, the management firm for Seraphim Space Investment Trust (SSIT). The potential positives for this 2021 IPO trust are stacking up - not least the large projected boost to European defence spending - but the trust is caught in the sectoral trap of wide discounts.  Could this nevertheless be its breakout year?  Listen in for some good reasons why it mght.

This discussion was recorded on Tuesday 06 May 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***


Section Timestamps:
0:00:24 - Introduction
0:00:44 - How Mark became involved in the space business
0:03:22 - How SSIT fits into the overall scope of space venture capital activities
0:08:43 - The share price experience
0:17:37 - Clearing up misunderstandings on the focus of space
0:27:39 - A short break
0:28:45 - Risks and challenges as companies scale up
0:31:41 - The current difficulties with private equity
0:34:38 - Drilling down into the positions and performance of portfolio companies
0:43:36 - Hoping for positive signs in the next twelve months
0:44:24 - The need to sell holdings to raise funds
0:48:20 - Close


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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of European Opportunities (EOT). Future profiles include J.P.Morgan US Smaller Companies (JUSC) and Tritax Big Box REIT (BBOX). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 270 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 - www.bgprofessional.co.uk

274: Money Makers Investment Trusts Podcast - with Mark Boggett (10 May 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Ben Rogoff of Polar Capital Technology Trust (PCT) to discuss the rapidly evolving landscape of artificial intelligence including the emergence of DeepSeek, its impact on Nvidia, and the promise of Agentic AI.

This discussion was recorded on Thursday 08 May 2025.


*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***


Section Timestamps:
0:00:24 - Introduction
0:00:40 - The reaction to DeepSeek
0:10:46 - Volatility in the share price
0:12:49 - Activity since January
0:19:04 - The impact of the US tariff regime
0:26:12 - A short break
0:27:18 - Shareholder reaction to the last few months
0:29:29 - Potential for growth
0:34:59 - The importance of Agentic AI
0:46:11 - Close



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, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year.

This week, as well as the usual features, the Circle features a profile of J.P.Morgan US Smaller Companies (JUSC). Future profiles include Tritax Big Box REIT (BBOX) and The Schiehallion Fund (MNTN). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.  

For more information 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 for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 270 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 - www.bgprofessional.co.uk

275 Money Makers Investment Trusts Podcast - with Ben Rogoff (14 May 2025)

Home of the free Money Makers Weekly Investment Trust Podcast with Jonathan Davis, released every Saturday and covering the latest developments in investment trusts. Subscribe now on your favourite podcast app to make sure you catch every edition! Keep up-to-date with Money Makers via Twitter - @MoneyMakersITs - and visit the website for more details, including our premium service, the Money Makers Circle: www.money-makers.co.

New tracks tagged #Money Makers Investment Trusts