Robbie Robertson (Personal Assets Trust) - Trust Matters
Far From The Finishing Post
English - March 22, 2024 13:00 - 41 minutes - 28.7 MBInvesting Business troy asset management investing compounding wealth creation absolute returns money management asset management fund management learning finance Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode we speak to Robbie Robertson. Robbie is on the Board of Personal Assets Trust and spent a nearly 40-year career in the investment trust industry. We discuss the evolution of the investment trust industry, the advantages of a closed-end structure and the role Personal Assets Trust can play in a portfolio.
Show notes:
[01:28] A different world
[03:17] Observations from a career in the investment trust industry
[06:42] Characteristics of successful investors
[08:03] How Robbie got involved with Personal Assets Trust
[09:03] Advantages of the investment trust structure
[11:39] Evolution of the investment trust industry
[15:05] Impact of higher interest rates and a changing cycle
[16:48] Are they investment trusts or operating companies?
[20:54] Valuing assets in newer parts of the market
[22:24] Appropriateness of the investment structure for alternative assets
[23:57] Is there demand for general equity investment trusts?
[25:51] Why some investment trusts scale and others fail
[27:25] Common pitfalls to avoid
[28:57] Trading discounts
[30:50] What makes a great investment trust Board?
[32:58] The role Personal Assets Trust plays in a portfolio
[37:56] Advantages of a discount control mechanism
[39:36] Why most Boards do not commit to a discount control mechanism
[40:47] Enjoy yourself