Weekly Investment Trust Podcast with Jonathan Davis (14 Jan 2023)

Jonathan Davis, editor of the Investment Trusts Handbook, is joined in this week’s edition of the Money Makers Weekly Investment Trust podcast by Max King, former fund manager at Investec and columnist in MoneyWeek,  and Andrew Rees, property investment trust analyst at Numis Securities.

Section Timestamps:
00:13 - Review of the week
02:28 - Money Makers Circle
02:58 - Q&A with Max King
03:11 - Max's comments on the latest developments
05:57 - Will world markets do better than US markets?
07:31 - Chinese investment trusts
10:42 - Home REIT (HOME) and RIT Capital Partners (RIT)
17:49 - IPO announcement: AT85 Global Mid-market Infrastructure
18:33 - Aurora Investment Trust (ARR)
19:59 - Risks for the year
20:54 - Changes with Max's investments?

22:17 - Commercial property Q&A with Andrew Rees
22:58 - Summarising what happened to the shares of commercial property trusts in 2022
24:00 - What sectors were worst affected by the change in environment and why
24:57 - The scale of the change in share price performance and ratings
25:52 - Comparing discounts to previews periods of significant discount movements
27:49 - What will happen from here?
29:44 - Dividend yields and their sustainability
33:47 - Further valuation pressures on capitalisation rates
37:36 - Trusts with long-term inflation-linked leases
39:35 - Supermarket Income REIT (SUPR) and the Sainsbury's Supermarket portfolio
41:34 - LXI REIT (LXI) and refinancing
44:14 - Social housing sector
49:21 - Specialist healthcare trusts
53:14 - The trusts that Andrew is looking for

55:38 - Close

Trusts mentioned (with tickers) Henderson Diversified Income (HDIV), AT85 Global Mid-market Infrastructure Income, Home REIT (HOME), RIT Capital Partners (RCP), Scottish Mortgage Investment Trust (SMT), Aurora Investment Trust (ARR), Rockwood Strategic (RKW), Odyssean Investment Trust (OIT), North Atlantic Smaller Companies, Temple Bar Investment Trust (TMPL), Edinburgh Investment Trust (EDIN), Regional REIT (RGL), Alternative Income REIT (AIRE), Ediston Property Investment Company (EPIC), AEW UK REIT (AEWU), LXI REIT (LXI), Value and indexed Property Income (VIP), Supermarket Income REIT (SUPR), Abrdn Property Income (API), Civitas Social Housing (CSH), Triple Point Social Housing (SOHO), Target Healthcare REIT (THRL), Impact Healthcare REIT (IHR).

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In addition to the regular features, this week the Circle features a profile of SDCL Energy Efficiency Income Trust (SEIT)

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Produced by Ben Gamblin.