From business model to growth ambitions – in this interview, Matthias Stadelmeyer, CEO of Tradedoubler, introduces the company and shares its path forward. He explains its unique value proposition: risk-free, outcome-based advertising through partner and influencer networks supported by proprietary technology. Matthias outlines Tradedoubler’s ambitious growth plans, including expansion into new markets such as the US and Brazil, leveraging AI for efficiency and growth, and maintaining strong financial targets of 10% annual revenue growth and 25% EBITDA/gross profit margins. He also highlights influencer marketing as a fast-growing segment and confirms M&A as part of the strategy to strengthen the portfolio.

Tradedoubler (Nasdaq Stockholm: TRAD) is a pioneer in performance-based digital marketing, operating in more than 90 countries with over 3,000 brands.

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About ‘Bull, Bear & Beyond’ 

Bull, Bear & Beyond': features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit. 

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/ 

174. Bull, Bear & Beyond – Tradedoubler: executive interview

In this interview, Matt Barrie, CEO of Freelancer, discusses the transformative potential of agentic AI, a technology designed to automate repetitive workflows such as customer support and sales. He explains that agentic AI represents the next major wave of business transformation after web and app development, delivering hyper-realistic, multilingual interactions available 24/7 and enabling businesses of all sizes to deploy AI agents for tasks traditionally handled by humans. Freelancer is both integrating agentic AI into its own platform and offering businesses access to 80 million freelancers to build AI solutions. Matt emphasises that AI will elevate freelancer skills rather than replace them, creating new opportunities and boosting productivity across industries. He notes that implementing agentic AI is highly accessible, with costs comparable to building a website or app, and predicts widespread adoption within two to three years. The interview concludes with Barrie demonstrating an AI agent for Edison Group, created in less than 10 minutes.

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About ‘Bull, Bear & Beyond’ 

Bull, Bear & Beyond': features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit. 

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/ 

173. Bull, Bear & Beyond – Freelancer: executive interview

In this interview, Charles Jillings, who along with Jacqueline Broers manages Utilico Emerging Markets (UEM), which has just celebrated its 20th anniversary, discusses why he thinks global investors should consider an allocation to emerging markets. He also highlights that a continuation of long-term growth trends, such as urbanisation, contributed to strong emerging markets performance in 2025. Jillings then focuses on what UEM offers investors in terms of exposure to utility and infrastructure assets, which are high-conviction, quality businesses with strong management teams. More than 80% of UEM’s portfolio companies pay a dividend, which enables the trust to pay its own shareholders a rising covered dividend. UEM has just become an AIC next-generation dividend hero as it has achieved a 10-year record of consecutive dividend increases.

Jillings explains the four growth megatrends that are represented in UEM’s portfolio: social infrastructure, energy growth and transmission, digital infrastructure and global trade. He highlights the trust’s strong absolute and relative performance versus the MSCI Emerging Markets Index. This is just used as a reference as there is minimal overlap between the index and UEM’s portfolio. Jillings concludes by sharing his bullish outlook for emerging markets in 2026, which is based on lower interest rates, higher commodity prices and attractive valuations.

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About ‘Bull, Bear & Beyond’

Bull, Bear & Beyond': features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.

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/

172. Bull, Bear & Beyond – Vantage: Charles Jillings on UEM's utility and infrastructure focus and growing, covered dividend

In this episode, our director of content, investment companies Milosz Papst talks about Edinburgh Worldwide Investment Trust. This is a timely podcast as the trust is once again under fire from US-based activist hedge fund Saba Capital Management. Shareholders voted decisively against Saba’s proposals in February 2025 and Edinburgh Worldwide’s board is urging shareholders to do so again. This time round, Saba has amassed a larger stake in the trust and is proposing to replace Edinburgh Worldwide’s board with three of its own representatives but has given no indication about the trust’s future strategy. Timing is tight as the general meeting is scheduled for 12:00 noon on 20 January 2026. The cut-off for submitting votes is 12:00 noon on Saturday 17 January 2026 but for platforms, the date may be as soon as 12 January 2026.

Papst provides a brief introduction to Edinburgh Worldwide before highlighting how the board has proactively addressed a period of poor performance. This included enhancing the investment team and meaningful improvements in portfolio construction and execution, such as fewer holdings and stricter measures to address underperforming investments. The portfolio was reshaped to include more profitable, cash-generative companies and to have greater sector diversification. These efforts have led to notably better performance.

Attention then returns to the pressing issue of Saba. Edinburgh Worldwide’s board strongly urges all of its shareholders, no matter how large or how small, to vote against Saba’s proposal to take control of the trust in a move that would favour Saba over the trust’s existing shareholders. Saba has not stated its intentions, beyond replacing the board, and has failed to engage, including a lack of response to a list of questions in Edinburgh Worldwide’s open letter on 30 December 2025.

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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/

47. Uncovering Trusts – Edinburgh Worldwide Investment Trust (EWI): Vote now to keep the trust alive

In this episode, our director of content, investment trusts Milosz Papst talks about Murray International. This is our first podcast focusing on this large, well-established fund, so he starts by providing an introduction to the company, before highlighting how it differs from its peers in the AIC Global Equity Income sector. Murray International has a notable below-market weight in the US and a meaningful allocation to emerging markets. Discussion then moves onto the investment process, which features Aberdeen’s focus on quality and value, and input from its regional investment teams. He then provides more information about the portfolio, which is broadly diversified by geography and sector. To bring some more colour, he gives some examples of recent transactions, where portfolio activity has been higher than average as Murray International’s managers have found increased opportunities in a volatile market. Attention then turns to the trust’s performance and the change in the company’s reference measure to what is a more relevant MSCI ACWI High Dividend Yield Index given Murray International’s emphasis on income and dividend growth. Papst then highlights the trust’s competitive fee structure and its valuation, before wrapping up with summary of the key takeaways of the Murray International story.

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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/

46. Uncovering Trusts – Murray International Trust (MYI): A well-established global income trust

Edison’s investment companies team recently published a review of The Diverse Income Trust. Managers Gervais Williams and Martin Turner believe that income stocks are set to become market leaders due to their steady cash returns to shareholders in an environment of nationalism and volatile asset prices. The UK looks particularly attractive as it has been devalued by persistent outflows since Brexit and within this market many small-cap equity income stocks are trading on what the managers say are ‘absurdly low valuations’. The Diverse Income Trust is a unique proposition with an income and capital growth strategy spread across the market cap spectrum. Since the trust was launched in April 2011, it has an unbroken record of higher annual dividends and has outperformed all but one of its 17 peers in the AIC UK Equity Income sector, along with its comparator indices by a wide margin.

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About ‘Bull, Bear & Beyond’

Bull, Bear & Beyond': features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.

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/

Original interview published on 04/11/2025 and reposted as a podcast

140. Bull, Bear & Beyond – The Diverse Income Trust in 60 seconds

In this episode, our director of content, investment trusts Milosz Papst provides an update on BlackRock Latin American Investment Trust. After giving a quick refresher about the company, he discusses the Latin American investment backdrop, where valuations look very attractive. He then highlights the importance of upcoming election cycles, before delving into the managers’ views about the prospects for the region. Discussion then turns to the trust, starting with the stock selection process, where favoured companies tend to be high-quality businesses at reasonable valuations, which may be overlooked by other investors. He then provides information about the portfolio, where the managers are happy to invest in some of the smaller and non-index countries, although it is important to understand that a large part of the portfolio is likely to be made up of Brazilian and Mexican stocks as these two countries make up around 90% of the MSCI Emerging Markets Latin America Index, which is the trust’s benchmark. He highlights a few of the largest portfolio holdings before discussing performance, which has been positive this year in both absolute and relative terms. To wrap up the podcast, he focuses on the dividend policy, where income is an important element of the trust’s total return objective, and highlights the discount control mechanism, which includes a tender offer based on the trust’s performance and average discount over a four-year period ending 31 December 2025.

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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/

45. Uncovering Trusts – BlackRock Latin American Investment Trust (BRLA): Volatility can provide compelling opportunities

In this interview, Tom Pey (chairman and founder) and Celso Zuccollo (CEO) of Waymap, a privately held company, discuss their revolutionary indoor navigation platform. Originally developed with a $1m Google.org grant to assist visually impaired users, Waymap has evolved into a comprehensive platform operating across more than 11 cities and serving over 140 venues, including Washington Metro (over 100 stations and 11,000 bus stops), LA Metro and Lord’s Cricket Ground. Waymap’s proprietary Smart Step algorithm uses the four sensors built into smartphones to achieve one-meter accuracy and 10-degree heading accuracy without requiring external infrastructure or signals. The technology works seamlessly indoors, outdoors and deep underground.

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About ‘Bull, Bear & Beyond’

Bull, Bear & Beyond': features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.

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/

Original interview published on 03/11/2025 and reposted as a podcast

139. Bull, Bear & Beyond – Waymap executive interview

In this interview, we speak to Antti Vuolanto, CEO of Herantis Pharma. We discuss the company’s recently announced clinical data from its Phase Ib trial in Parkison's disease patients, what to expect from the upcoming biomarker data and the next steps for Herantis’s lead programme HER-096, a peptide therapeutic.

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About ‘Bull, Bear & Beyond’

Bull, Bear & Beyond': features candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation, and the opportunities shaping their markets and 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.

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/

Original interview published on 31/10/2025 and reposted as a podcast

138. Bull, Bear & Beyond – Herantis Pharma executive interview

In this episode, our director of content, investment trusts Milosz Papst talks about Invesco Asia Dragon Trust, which was recently created following the merger of Invesco Asia Trust with Asia Dragon Trust. He outlines the key benefits to shareholders of the enlarged entity, which retained the successful investment strategy of Invesco Asia Trust. He discusses the trust’s bottom-up, valuation-aware investment approach focused on sustainable business models and attractive valuations. He explains the deep research capability of Invesco’s Asia and emerging markets team. He also outlines the shareholder-friendly measures introduced in conjunction with the merger, including quarterly dividend payments and an unconditional tender every three years. He concludes by summarising the market view of IAD’s managers.

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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/

44. Uncovering Trusts – Invesco Asia Dragon Trust (IAD): A bigger, more efficient version of an already proven formula

Discover the world of investment trusts in the 'Uncovering Trusts' podcast series by Edison Group. Hear from Edison’s analysts and trusts’ management and gain insights into how these trusts, covered by Edison, effectively manage assets to maximize returns, aligning with the risk appetite and diverse requirements of both commercial and retail clients.

Edison is a leading investor relations business, operating across all major capital markets. We help create optimal valuations for client stocks, deploying our award-winning combination of intelligent strategic advice, equity research, investor marketing and direct investor engagement.

To find out more about investment trust covered by Edison, please visit: https://www.edisongroup.com/equities/investment-companies/

Uncovering Trusts by Edison Group

Edison Group's Show

Discover fresh perspectives in the Bull, Bear & Beyond podcast series by Edison Group. Our longer episodes feature candid conversations with senior executives and from our own team of experts from across industries, exploring strategy, innovation and the opportunities shaping their markets. These discussions offer unique insight into how leaders navigate challenges, drive growth and deliver long-term value for stakeholders. Our 60-second pieces are a compressed summary of content designed to convey our message in a single, easily shareable hit.

To find out more, please visit: https://www.edisongroup.com/ [https://www.edisongroup.com/equities/investment-companies/]

Bull, Bear & Beyond by Edison Group

'Uncovering Trusts': Edison analysts interview investment trusts to uncover how they maximize returns while managing risk for clients. 

Edison Group

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