Uncovering Trusts by Edison Group

Today Milosz dives into the long heritage and disciplined approach to stock selection of The Merchants Trust. He discusses the trust’s opportunistic and contrarian style aimed at building a high-conviction, reasonably concentrated portfolio. He also highlights the trust’s AIC dividend hero status and its commendable performance record. He concludes by commenting on UK equities as an interesting investment opportunity.

About ‘Uncovering Trusts’:
'Uncovering Trusts': is a podcast run by Edison analysts released every two weeks. Subscribe to hear analyst interviews on how investment trusts maximise returns while managing risks for investors.

About Edison:
Edison is a content-led IR business. We believe quality investment content should inform all investors, not just brokers. Our mission: engage and build bigger, better-informed investor audiences for our clients.

Edison covers 50+ investment trusts, read about them here: https://www.edisongroup.com/equities/investment-companies/

In today's episode, Milosz dives into how BlackRock Greater Europe Investment Trust has employed its concentrated, high-conviction strategy and broad investment remit to outperform the broad Europe ex-UK market. He also discusses the trust’s current cyclical bias, its overweight positions in technology, consumer discretionary and industrials, as well as its largest holding – the Danish pharma company Novo Nordisk. Finally, he highlights the relatively attractive valuations of European equities at present.

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About Uncovering Trusts:

Uncovering Trusts is a podcast run by Edison analysts, which is released every two weeks. Subscribe to hear analyst interviews on how investment trusts maximise returns while managing risks for investors.

About Edison:

Edison is a content-led IR business. We believe quality investment content should inform all investors, not just brokers. Our mission: Engage and build bigger, better-informed investor audiences for our clients.

Edison covers 50+ investment trusts. Read about them here:

https://www.edisongroup.com/sectors/investment-companies/

Today Milosz dives into HgT’s portfolio of leading, profitable, unquoted European mid-market businesses with an international footprint, offering mission-critical, low-spend software solutions to SMEs. He discusses how HgT’s portfolio fulfils the so-called ‘Rule of 40’ by delivering revenue and EBITDA growth of around 20–30% per annum at a margin above 25% across its top 20 holdings. Finally, he delves into the key underlying drivers of HgT’s healthy historical returns.

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About Uncovering Trusts:

Uncovering Trusts is a podcast run by Edison analysts, which is released every two weeks. Subscribe to hear analyst interviews on how investment trusts maximise returns while managing risks for investors.

About Edison:

Edison is a content-led IR business. We believe quality investment content should inform all investors, not just brokers. Our mission: Engage and build bigger, better-informed investor audiences for our clients.

Edison covers 50+ investment trusts. Read about them here: https://www.edisongroup.com/equities/investment-companies/

In this episode, Milosz dives into the bottom-up, unconstrained, contrarian approach of Invesco Asia Trust, which looks for ‘unloved’ investments across Asia with strong fundamentals that are trading at undemanding valuations. He discusses the trust’s current overweight position to China and South Korea, as well as its cyclical bias at present. He also elaborates on the trust’s dividend policy and performance-related conditional tender offer.

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About Uncovering Trusts:

Uncovering Trusts is a podcast run by Edison analysts, released every two weeks. Subscribe to hear analyst interviews on how investment trusts maximise returns while managing risks for investors.

About Edison:

Edison is a content-led IR business. We believe quality investment content should inform all investors, not just brokers. Our mission: Engage and build bigger, better-informed investor audiences for our clients.

Edison covers 50+ investment trusts. Read about them here: https://www.edisongroup.com/equities/investment-companies/