Kepler Trust Intelligence Podcast

In this episode of Trust Issues, we speak to Steven Marshall, Chairman of Cordiant Digital Infrastructure Management. We discuss what CORD offers retail investors, how the portfolio is structured, risk management, performance and the outlook for the sector.

00:00 Introduction

Our latest research on CORD - https://www.trustintelligence.co.uk/investor/articles?fund_id=1808  

In this episode of Trust Issues, we speak to Randall Sandstrom, Chief Executive and CIO of Sequoia Investment Management, adviser to the Sequoia Economic Infrastructure Income Fund (SEQI). We discuss what SEQI offers retail investors, current portfolio allocations, performance, risk management and the outlook for the sector.

00:00 Introduction

Our latest research on SEQI - https://www.trustintelligence.co.uk/investor/articles?fund_id=1742 

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 sector, including managing downside risk for investors, the impact of AI, the rationale for an allocation to US small-caps and the outlook for the sector.

00:00 Introduction

Our latest note on BASC - https://www.trustintelligence.co.uk/investor/articles?fund_id=172 

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. 

This month's guest is Jasmine Yeo, co-manager of the Ruffer Investment Company (RICA) which aims to deliver consistent positive returns irrespective of market conditions. Jasmine has extensive experience in the asset management industry across equities, bonds and alternative assets.

In this month’s episode, we discuss a wide range of issues including downside risks in US equities, valuation opportunities in the UK, the investment case in China and Japan, the outlook for bonds and the role of gold in portfolios.

00:00 Introduction

Our latest market insights: https://www.trustintelligence.co.uk/investor/articles/category/strategy-investor 

In this episode of Trust Issues, we speak to Richard Sennitt, manager of Schroder AsiaPacific, about the opportunity for investors in the sector, including the implications of Chinese stimulus measures and a Trump administration, valuations in India and how SDP offers a differentiated approach for investors.

00:00 Introduction

Our latest note on SDP - https://www.trustintelligence.co.uk/investor/articles?fund_id=27 

In this episode of Trust Issues, we speak to Ailsa Craig & Marek Poszepczynski, managers of International Biotechnology Trust, about the opportunity for investors in the biotech sector, from the implications of a Trump victory to the current state of play on obesity drugs.

00:00 Introduction

00:19 Overview of IBT and current allocations

02:24 Change in composition of XBI

03:25 Benefits of a basket approach

05:06 Most exciting developments in the biotech sector

07:25 Can other companies compete with Eli Lilly and Novo Nordisk on obesity drugs?

08:49 Recent allocation changes due to the market cycle

12:26 Views on current valuations

15:12 Outlook for M&A

17:09 Outlook for IPO market in 2025

18:13 What IBT offers beyond a passive strategy

19:45 Implications of a Trump administration

21:26 Impact of rate cuts on the portfolio and wider sentiment

22:16 Further information

22:43 Risk warning

Our latest note on IBT - https://www.trustintelligence.co.uk/investor/articles?fund_id=2

IBT website - https://www.schroders.com/en-gb/uk/individual/funds-and-strategies/investment-trusts/international-biotechnology-trust/

Jo Groves, Ryan Lightfoot-Aminoff and David Brenchley from Kepler Trust Intelligence discuss the most notable news and interviews in the investment trust world in October.

We discuss the impact of the budget on UK equities, as well as the outcome of Asia Dragon’s strategic review. Furthermore, we summarise the key takeaway from the results of Ashoka India, BH Macro and International Biotechnology.

We also bring you the highlights from our series of podcasts in the month, including commentary from Charlotte Cuthbertson of MIGO Opportunities, BBH Healthcare and  BBGI Infrastructure. 

We also run the rule over the most bought and sold investment trusts by UK retail investors in October, with a new entrant in the number one spot. 

Finally, we summarise the final trust in our webinar series on global equities in a year of change, where Sam Vecht of Blackrock Latin America discusses the opportunities in this area of emerging markets. 

0:00 Welcome 

In this episode of Trust Issues, we speak to Duncan Ball, CEO of BBGI Global Infrastructure about what makes BBGI unique and the outlook for the wider infrastructure sector.

00:00 Introduction

00:19 What is BBGI's investment strategy?

03:09 What makes BBGI unique from sector peers?

05:19 What is BBGI's dividend policy?

07:07 What role does BBGI play in an investor's portfolio?

08:41 How do interest rates affect BBGI and infrastructure more broadly?

11:19 What is the outlook for the infrastructure sector?

13:33 Further information

13:59 Risk warning

Our latest note on BBGI - https://www.trustintelligence.co.uk/investor/articles?fund_id=752

BBGI website - https://www.bb-gi.com/

In this episode of Trust Issues, we speak to Paul Major, co-portfolio manager of Bellevue Healthcare, about GLP-1s, commonly known as weight-loss drugs, other innovation within healthcare and the outlook for the sector and smaller companies more broadly.

00:00 Introduction

00:23 What are GLP-1 drugs?

03:02 Why BBH doesn't invest in Novo Nordisk or Eli Lilly

09:12 How much risk does increased competition pose to incumbents?

12:25 What exposure does BBH have to this area?

13:54 What other healthcare innovations excite you?

15:41 What is the outlook for the small-cap and healthcare sectors?

17:36 Further information

18:05 Risk warning

Our latest note on BBH - https://www.trustintelligence.co.uk/investor/articles?fund_id=488

BBH website - https://www.bellevuehealthcaretrust.com/uk-en/pro/

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