Weekly Investment Trusts Podcast with Andrew McHattie, Ailsa Craig, Marak Poszepczynski (13 May '23)

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, speaks to Andrew McHattie, editor of the Investment Trusts Newsletter, and Ailsa Craig and Marak Poszepczynski, co-managers of the International Biotechnology Trust (IBT).

Section Timestamps:
0:00:29 - This week's guests
0:01:57 - The markets this week
0:04:05 - This week's news
0:04:29 - Money Makers Circle
0:05:20 - Noteable results and announcements
0:08:12 - Q&A with Andrew McHattie
0:08:24 - Bank of England base rate change
0:11:23 - Investment trust sector pe rformance
0:12:36 - Civitas Social Housing (CSH)
0:17:39 - Home REIT (HOME)
0:21:25 - US Solar Fund (USF)
0:23:23 - The renewables sector
0:25:31 - Private equity
0:29:13 - 3i Group (III)
0:31:20 - ICG Enterprise (ICGT)
0:35:00 - Q&A with Ailsa Craig and Marak Poszepczynski
0:35:14 - What IBT does and how it differs
0:36:09 - Why choose to invest in IBT
0:37:34 - The factors involved in declining returns for the sector
0:41:01 - The impact of a recession and high interest rates on the sector
0:42:26 - M&A activity
0:45:44 - The US Presidential election cycle
0:48:34 - The IBT portfolio
0:52:19 - Gearing on the trust
0:53:34 - The trust's dividend
0:55:39 - Investments in unlisted private companies
0:59:03 - Sectors or companies with prospects for the next 'big bang'
1:01:56 - Future fund manager arrangements
1:02:50 - Close

Trusts mentioned (with tickers): Schiehallion Fund (MNTN), 3i Group (III), 3i Infrastructure Trust (3IN), Pacific Assets (PAC), Baillie Gifford European Growth (BGEU), BlackRock Greater Europe (BRGE), Polar Capital Global Healthcare (PCGH), Seraphim Space (SSIT), Chrysalis Investments (CHRY), Civitas Social Housing (CSH), Triple Point Social Housing (SOHO), Home REIT (HOME), US Solar Fund (USF), Next Energy Solar Fund (NESF), Bluefield Solar Fund (BSIF), Oakley Capital Investments (OCI), RTW Venture Fund (RTW), ICG Enterprise (ICGT).

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This week, as well as the regular features, the Circle features a profile of Octopus Renewables Infrastructure Trust (ORIT). Jonathan also provides commentary on the market outlook and the social housing sector, and looks at what Stanley Druckenmiller thinks about the outlook for the US economy.

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Produced by Ben Gamblin.