Money Makers

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Nick Greenwood, manager of the Migo Opportunities Trust (MIGO), and Emma Bird, head of research at Winterflood Securities. Listeners can also hear an extract of Jonathan's conversation with Sandy Nairn of the Global Opportunities Trust (GOT), a discussion available in full next week for subscribers to the Money Makers Circle.

Section Timestamps:

00:28 - Review of the week

01:23 - This week's guests

02:38 - News and performance

06:32 - Money Makers Circle

07:06 - Summary of results

12:36 - Q&A with Nick Greenwood

12:57 - Comments on the volatile global situation

14:31 - Reasons for widening discounts

19:00 - The developments at Scottish Mortgage

22:47 - The portfolio

24:32 - China

25:57 - Commodities

28:00 - Japanese positions

29:48 - Q&A with Emma Bird

29:56 - The markets this week

30:54 - Scottish Mortgage Trust (SMT)

37:03 - The property sector

37:29 - CT Property Trust (CTPT)

40:31 - Dividend sustainability

44:11 - Ediston Property Investment Trust (EPIC)

46:01 - PRS REIT (PRSR)

50:19 - Q&A with Sandy Nairn (Extract)

54:53 - Close

Trusts mentioned (with tickers): Scottish Mortgage Trust (SMT), Allianz Technology Trust (ATT), Fidelity European Trust (FEV), Temple Bar (TMPL), JPMorgan US Smaller Companies Trust (JUSC), Princess Private Equity (PEY), Baillie Gifford Shin Nippon (BGS), BioPharma Credit (BPCR), Crystal Amber (CRS), Henderson EuroTrust (HNE), Vietnam Holding (VNH), VinaCapital Vietnam Opportunity Fund (VOF), CT Property Trust (CTPT), PRS REIT (PRS), Aquila European Renewables (AERI), Herald Investment Trust (HRI), Rights and Issues (RIII), Macau Property Opportunities (MPO), Nippon Active Value Fund (NAVF), AVI Japan Opportunities Trust (AJOT), Ediston Property Investment Trust (EPIC), Ground Rents Income Fund (GRIO), Downing Renewables and Infrastructure Trust (DORE).

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 Harmony Energy Income Trust (HEIT). Next week, subscribers will be able to hear the full conversation with Sandy Nairn (available after Tuesday 28 March), and the Circle will feature a profile of JPMorgan Emerging Markets (JMG).

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 over 150 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.

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Nicholas Weindling, manager of the JPMorgan Japanese Investment Trust (JFJ), and Ross Driver, co-manager of the Foresight Solar Fund (FSFL).

Section Timestamps:

0:00:29 - A podcast milestone

0:00:57 - This week's guests

0:01:50 - Money Makers Circle

0:02:44 - Review of the week

0:06:16 - Summary of the week's results and announcements

0:13:55 - Q&A with Nicholas Weindling

0:14:36 - Investment style

0:16:56 - The impact of currency on performance

0:18:37 - When does the trust do well, and when does it lag the market

0:19:50 - Attractiveness of company valuations

0:22:16 - Optimism about Japan

0:25:18 - Attracting overseas investors

0:27:03 - A new central bank governor and monetary policy implications

0:29:45 - Differences with this trust versus others

0:33:14 - Q&A with Ross Driver

0:34:06 - General fund performance

0:36:29 - Last year's results

0:39:03 - Proportion of revenue from the UK

0:43:22 - Other sources of revenue and taking on extra risk

0:48:22 - Impact of windfall taxes

0:55:31 - Non-subsidised solar in the UK

0:56:39 - Investors' concerns

1:02:14 - The balance sheet

1:04:25 - The dividend target

1:05:40 - Close

Trusts mentioned (with tickers): HG Capital Trust (HGT), Allianz Technology Trust (ATT), Witan Investment Trust (WTAN), JPMorgan Claverhouse Investment Trust (JCH), AVI Japan Opportunity Trust (AJOT), Schroder Asian Total Return (ATR), Foresight Solar Fund (FSFL), Premier Miton Global Renewables Trust (PMGR), Home REIT (HOME), Ediston Property Investment Compnay (EPIC), Abrdn Latin American Income Fund (ALAI), Rights and Issues Investment Trust (RIII), Supermarket Income REIT (SUPR), Literacy Capital (BOOK), Scottish Mortgage Trust (SMT), JPMorgan Japanese Investment Trust (JFJ).

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 comments on the current outlook in the wake of the collapse of Silicon Valley Bank and issues around other banks, and a profile of the European Smaller Companies Trust (ESCT). Next week, the Circle will feature of profile of Harmony Energy Income Trust (HEIT).

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 150 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.

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to James Carthew, director of QuotedData, and Steven Tredget, partner at Oakley Capital, the managers of the Oakley Capital Investments trust (OCI).

Section Timestamps:

0:00:29 - The week's news

0:04:36 - Introducing this week's guests

0:05:57 - Money Makers Circle

0:06:24 - Coming up next week

0:06:34 - Q&A with James Carthew

0:08:30 - Market sentiment

0:10:27 - Where will money be going?

0:12:32 - Results announcements

0:32:19 - Nick Greenwood's departure from Premier Miton

0:35:05 - Henderson Opportunities Trust (HOT)

0:38:47 - AIC Conference

0:43:30 - Close

0:43:44 - Q&A with Steven Tredget

0:45:08 - Valuation doubts

0:53:26 - Effectiveness of share buy backs

0:55:47 - Constraints around the availability of cash

0:58:12 - Direct holdings

1:00:41 - Close

Trusts mentioned (with tickers): Oakley Capital Investments (OCI), MIGO Opportunities Trust (MIGO), F&C Investment Trust (FCIT), Alliance Trust (ATST), Digital 9 Infrastructure (DGI9), Seraphim Space Investment Trust (SSIT), US Solar Fund (USFP), Strategic Equity Capital (SEC), Henderson Opportunities Trust (HOT).

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 Invesco Asia Trust (IAT).

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 150 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.

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Bruce Stout, manager of the Murray International Investment Trust (MYI). Also, while Jonathan is away in the Netherlands, Stuart Watson, author of the Money Makers Circle trust profiles, joins the podcast to bring a summary of the week's news and market movements.

Section Timestamps:

00:29 - Introduction, this week's guest, and the Money Makers Circle

02:15 - This week's news and market movements with Stuart Watson

10:59 - Q&A with Bruce Stout

11:41 - Was 2022 a reckoning some time in the making?

17:06 - Are government bonds a dangerous alternative?

19:19 - Portfolio split between the US and the rest of the world

23:19 - Yield on the Trust and dividends

26:20 - The trust's portfolio

28:51 - Impact of the dollar

32:37 - China

35:38 - Sustainability of results over the coming few years

38:21 - The use of gearing

40:16 - Portfolio holdings

45:18 - No easy solutions to the world's problems

48:13 - Looking at recent management changes

56:39 - Close

Trusts mentioned (with tickers): RIT Capital Partners (RCP), JPMorgan Global Growth and Income (JGGI), Mid Wynd International (MWY), Murray International (MYI), Smithson Investment Trust (SSON), BlackRock World Mining (BRWM), Law Debenture (LWDB), Murray Income (MUT), Abrdn UK Smaller Companies Growth (AUSC), Tritax Big Box (BBOX), Princess Private Equity (PEY), European Smaller Companies (ESCT), Bluefield Solar Income Fund (BSIF), Triple Point Social Housing (SOHO), Riverstone Energy (RSE), Greencoat Renewables (GRP), Mobius Investment Trust (MMIT), CQS New City High Yield (NCYF), Pacific Horizon (PHI), Apax Global Alpha (APAX), Pantheon Infrastructure (PINT), Aquila Energy Efficiency (AEET), Home REIT (HOME).

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 GCP Infrastructure (GCP).

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 150 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.

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Simon Edelsten, manager at Mid Wynd International (MWY). Jonathan also spoke this week to Richard Staveley, lead manager at Rockwood Strategic (RKW), and the podcast features an extract of their conversation, available in full for subscribers to the Money Makers Circle.

Section Timestamps:

0:00:29 - Introducing this week's guests

0:01:47 - Money Makers Circle

0:02:27 - Next week's guest

0:02:54 - The markets this week

0:04:12 - Corporate news and announcements

0:21:53 - Q&A with Simon Edelsten

0:09:26 - Reflections on the year just gone

0:13:41 - A new investment world and central bankers' views

0:17:02 - Japan, US and Europe currency rates, and currency movements

0:22:26 - Big technology stocks and valuations

0:32:49 - Looking at different regions

0:39:24 - The portfolio today compared to eighteen months ago

0:41:56 - Investment themes

0:45:04 - The investment trust itself

0:48:49 - Perceptions on the UK

0:51:06 - Rating optimism for the future

0:51:52 - Q&A with Richard Staveley (extract)

1:04:40 - Close

Trusts mentioned (with tickers): Greencoat UK Wind (UKW), The Renewables Investment Group (TRIG), Harmony Energy Income (HEIT), NextEnergy Solar Fund (NESF), VH Global Sustainable Energy Opportunities (GSEO), Abrdn European Logistics Income (ASLI), Supermarket Income REIT (SUPR), Regional REIT (RGL), Polar Capital Financials (PGCF), Ruffer Investment Company (RICA), European Opportunities Trust (EOT), AT85 Global Mid-Market Infrastructure Income, The Investment Company (INV), Rockwood Strategic (RKW), Mid Wynd International (MWY).

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 Jonathan's full discussion with Richard Staveley of Rockwood Strategic, a profile of the Lowland Investment Company (LWI), and updates to the Money Makers Model Portfolios

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 150 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.

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Simon Barnard, manager of the Smithson Investment Trust (SSON).

Section Timestamps:

00:28 - This week's guest

01:06 - Who’s coming on in future weeks

01:23 - Money Makers Circle

02:03 - Review of the week

02:45 - Corporate news

07:57 - Results summary

10:24 - Q&A with Simon Barnard

11:19 - The impact of 2022 on the Smithson Investment Trust

14:08 - Core metrics at the end of 2022

17:12 - Have investors got it wrong?

19:14 - The current environment for growth investing

22:06 - Resilience of companies to recession or entrenched inflation

23:49 - Portfolio changes

28:20 - New acquisitions

31:51 - The impact of the dollar

33:13 - The investment trust and share buy backs

35:45 - The fee structure

36:14 - Plans for 2023

37:13 - Understanding the company

39:36 - The core message to shareholders in the trust

41:21 - Close

Trusts mentioned (with tickers): BH Macro (BHMG), Home REIT (HOME), Abdrn Smaller Companies Income Trust (ASCI), Shires Income (SHRS), Aquila Energy Efficiency Trust (AEET), Brunner Investment Trust (BUT), Herald Investment Trust (HRI), Riverstone Credit Opportunities Income (RCOI), City of London Investment Trust (CTY), Diverse Income Trust (DIVI), Brown Advisory (BASC).

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 the Baillie Gifford Japan Trust (BGFD).

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 over 140 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.

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Colette Ord, head of real asset research, and Andrew Rees, property analyst, both at Numis Securities.

Section Timestamps:

0:00:28 - This week's guests

0:00:55 - Who's coming on in future weeks

0:01:29 - Review of the week

0:03:45 - Results summary

0:06:07 - Money Makers Circle

0:07:25 - Q&A with Colette Ord

0:08:06 - The year so far in infrastructure and renewable energy

0:09:35 - Gilt yields and spreads

0:14:42 - 3i Infrastructure (3IN)

0:20:54 - AT85 IPO

0:30:15 - Share buy-backs and Cordiant Digital Infrastructure (CORD)

0:35:58 - Divergence between sectors

0:40:29 - Octopus Renewables (ORIT)

0:43:09 - Q&A with Andrew Rees

0:43:28 - Overview of commercial property trusts

0:45:11 - This week's commercial property announcements

0:59:15 - Discounts across the commercial property sector

1:02:55 - The gap between gilts and dividends

1:04:38 - Share price weakness in the property sector this week

1:05:58 - Close

Trusts mentioned (with tickers): Scottish American Investment Company (SAIN), BlackRock Throgmorton Trust (THRG), JPMorgan Mid Cap (JMF), Syncona (SYNC), 3i Infrastructure (3IN), AT85, Digital 9 Infrastructure (DGI9), HICL Infrastructure (HICL), Cordiant Digital Infrastructure (CORD), Aquila European Renewables (AERS), Bluefield Solar Income Fund (BSIF), Gresham House Energy Storage (GRID), SDCL Energy Efficiency (SEIT), Octopus Renewables (ORIT), Balanced Commercial Property Trust (BCPT), Custodian Property Income REIT (CREI), LXi REIT (LXI), PRS REIT (PRS), Civitas Social Housing (CSH).

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 Urban Logistics REIT (SHED). Jonathan also meets up with Hugh Yarrow, manager of the Evenlode Income Fund, a favourite open-ended fund.

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 over 140 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.

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Chris Clothier, fund manager at Capital Gearing Trust (CGT).

Section Timestamps:

00:29 - Introducing Chris Clothier and upcoming guests

01:31 - Central banks rate changes

03:01 - Investment trust sector performance

03:52 - This week's news and results

04:34 - Money Makers Circle

09:56 - Q&A with Chris Clothier

10:17 - Central banks and rate rises

13:33 - Avoiding a bad recession

16:19 - Will this rally shortly run out of steam?

19:14 - Japanese bonds and equities

24:14 - Investing in China

25:18 - CGT asset allocation and positioning

27:38 - Limits to movements in the current trend

31:36 - Discount movements in investment trusts

34:20 - Commercial property sector

38:31 - Social housing sector

41:07 - Opportunities arising from funds winding down

47:17 - Renewables sector

48:58 - What could prompt a move back to risk assets etc.?

50:07 - Close

Trusts mentioned (with tickers): Octopus Renewables Infrastucture Trust (ORIT), Ecofin Renewables Infrastructure (RNEW), Aquila European Renewables (AERS), Riverstone Energy (RSE), Abertforth Smaller Companies Trust (ASL), Henderson Opportunities Trust (HOT), BlackRock Income and Growth (BRIG), Abrdn Private Equity Opportunities (APEO), Chrysalis (CHRY), Castelnau Group (CGL), Doric Nimrod Air One (DNA), NB Global Monthly Income (NBMI), Starwood European Real Estate Finance (SWEF), Scottish Mortgage Investment Trust (SMT), RIT Capital Partners (RCP), Tritax Big Box (BBOX), Supermarket Income REIT (SUPR), LXI REIT (LXI), Civitas Social Housing (CSH), Home REIT (HOME), Triple Point Social Housing (SOHO), Smithson Investment Trust (SSON).

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 Polar Capital Technology Trust (PCT).

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 over 140 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.

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Duncan MacInnes, manager of the Ruffer Investment Company (RICA).

Section Timestamps:

00:59 - Highlights of the week

02:31 - Money Makers Circle this week

03:25 - Investment trust news highlights

06:09 - Q&A with Duncan MacInnes

07:00 - Why 2022 was a good year for Ruffer

12:25 - Trading around the impact of UK index-linked gilts during the Truss administration

13:47 - Exposure to energy

18:28 - Ruffer's selling point

24:18 - Lagging indicators and company earnings

28:07 - Navigating choppy waters

31:57 - The dollar and the US

36:40 - Capacity constraints on the investment trust?

41:25 - Difficulties in achieving numbers that beat inflation

42:32 - A strategy to deal with volatility

45:18 - Close

Trusts mentioned (with tickers): 3i Group (III), Literacy Capital (BOOK), Oakley Capital Investments (OCI), Tritax Big Box (BBOX), Invesco Asia Trust (IAT), CT Global Managed Portfolio Trust (CMPG/CMPI), Henderson Smaller Companies Trust (HSL), Edinburgh Worldwide (EWI), BH Macro (BHMG), Home REIT (HOME), Finsbury Growth and Income (FGT), Blackstone Loan Financing (BGLF).

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 features a profile of Foresight Sustainable Forestry (FSF), and Jonathan provides the first of his reviews of the four Money Makers Model Portfolios.

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 over 140 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.

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Matt Hose, alternative assets analyst at the investment bank Jefferies, and Stuart Widdowson, manager of the Odyssean Investment Trust (OIT).

Section Timestamps:

00:13 - Introducing this week's guests

00:51 - Review of the week

02:53 - Money Makers Circle highlights

03:43 - Q&A with Matt Hose

33:53 - Q&A with Stuart Widdowson

54:30 - Close

Trusts mentioned (with tickers): BH Macro (BHMG), Smithson Investment Trust (SSON), Civitas Social Housing (CSH), Triple Point Social House (SOHO), Home REIT (HOME), Baker Steel Resources Trust (BSRT), HarbourVest Global Private Equity (HVPE), Pantheon International (PIN), Abrdn Private Equity Opportunities (APEO), NB Private Equity Partners (NBPE), Oakley Capital Investments (OCI), Octopus Renewables Infrastructure Trust (ORIT), Hipgnosis Songs Fund (SONG), Starwood European Real Estate Finance (SWEF), NB Global Monthly Income (NBMI), VPC Speciality Lending (VSL), Chrysalis Investments (CHRY), Schiehallion Fund (MNTN).

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.

In addition to the regular features, the Circle features a profile of Oakley Capital Investments (OCI), and Jonathan summarises his notes from the Winterflood Annual Investment Trusts Conference.

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 over 140 podcasts since launch.

You can find more information, including relevant disclosures, at www.money-makers.co. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk.

Produced by Ben Gamblin.