204: Weekly Investment Trusts Podcast - with Austin Forey and Lucy Walker (30 Mar 2024)

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, reviews the week in the markets and speaks to Austin Forey, manager at J.P.Morgan Emerging Markets (JMG), and Lucy Walker, chair of the Aurora Investment Trust (ARR) and non-executive director at Henderson International Income (HINT).

We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free.

Section Timestamps:
0:00:39 - Review of the week
0:02:02 - This week's guests
0:03:19 - Money Makers Circle
0:04:54 - Summary of results
0:06:22 - Corporate news and announcements
0:09:29 - Q&A with Austin Forey
0:10:24 - Changes in emerging markets
0:14:36 - The choice of index
0:15:52 - The case for a general emerging markets investment trust
0:17:06 - China and India
0:20:05 - Performance cycle in emerging markets
0:24:52 - The impact of currency
0:28:57 - Argentina
0:30:06 - Risk factors and ESG
0:34:23 - Portfolio examples
0:37:47 - Gearing
0:39:46 - The outlook for emerging markets
0:40:48 - Q&A with Lucy Walker
0:41:30 - Lucy's route to investment trusts
0:43:07 - AM Insights
0:48:00 - Marketing of investment trusts
0:50:03 - The challenge of explaining investment trusts
0:53:59 - Keeping marketing high on the agenda
0:56:33 - Monetary and time costs of marketing
01:00:18 - The role of sponsored research
01:01:40 - Visibility on investment platforms
01:02:38 - The discount dilemma
1:09:24 - 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, market/portfolio reviews and regular extracts from the editor's notebook.

This week, as well as the usual features, the Circle features a profile of Rights and Issues (RIII). Future profiles include Chrysalis Investments (CHRY) and STS Global Income and Growth (STS). Jonathan has also added to his list of favourite funds. Remember to look out for the latest edition of our new expanded weekly subscriber email which summarises Jonathan's latest thoughts along with a new list of his favourite funds, and includes all the regular features available in the Circle. The content of that email is also available for subscribers via the website.

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 more than 200 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.