In this episode, our director of content, investment trusts Milosz Papst discusses the recent developments at Baker Steel Resources Trust, which pursues a bottom-up, value-focused strategy of investing in a concentrated portfolio of 10 to 15 unlisted junior mining companies. He discusses the progress made by its two major assets (Futura Resources and Cemos Group) and the trust’s prospects of significant royalty and dividend income which could represent a double-digit income yield on its current market capitalisation. He explains how the trust mitigates the risks associated with investing in junior mining projects, including the use of convertible debt and providing funding in stages as development milestones are met.

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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/

28. Uncovering Trusts – Baker Steel Resources Trust (BSRT) – High income potential from maturing assets.

In this episode, our investment trusts director of content,  Milosz Papst provides an update on BlackRock Greater Europe Investment Trust (BRGE)  in the context of the recent shift in investor sentiment, which could be the start of a more sustained rally in European shares. He discusses the trust’s portfolio positioning, including the three main areas of the market which BRGE’s managers believe can transcend short-term political and economic disruption: semiconductors, luxury goods and healthcare. Milosz also compares BRGE to its peers from the AIC Europe sector, noting that BRGE’s NAV total return remains top of the peer group over the last decade.

 

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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/

27. Uncovering Trusts – BlackRock Greater Europe Investment Trust (BRGE) – a high-quality European trust focused on capital growth

In this episode, our director of content, investment trusts Milosz Papst discusses the recent announcement from AAIF’s board introducing an enhanced dividend policy and a three-year continuation vote. He also covers the significant increase in the fourth interim dividend of nearly 60% year-on-year. Moreover, Milosz examines the fund’s relative performance and portfolio positioning. He highlights the combination of Asia’s long-term growth potential and the attractive dividend growth and yield available in the region.

***********************************************************

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/

26. Uncovering Trusts – abrdn Asian Income Fund (AAIF) – offering exposure to a region often overlooked by income seekers.

In this episode, our director of content, investment trusts Milosz Papst discusses Edinburgh Worldwide Investment Trust (EWI), which aims to generate long-term capital growth from a diversified portfolio of smaller-cap global equities. He highlights how important it is for EWI’s shareholders to cast their vote at the upcoming general meeting in light of Saba Capital’s resolutions to remove the trust’s independent board and replace it with two directors proposed by Saba, change the management of the company from Baillie Gifford to Saba and amend Edinburgh Worldwide’s strategy. He also discusses the recent proposals of EWI’s board to put the trust back on a path to renewed growth and to return a meaningful amount of capital to shareholders.

***********************************************************

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/

25. Uncovering Trusts – Edinburgh Worldwide Investment Trust (EWI) – one of the trusts targeted by Saba

In this episode, our director of content, investment trusts Milosz Papst discusses the recent campaign of Saba Capital targeting seven UK-listed investment trusts. He discusses Saba’s plan with respect to removing the existing board members, introducing its own proposed directors, as well as the potential future changes in investment mandates of these trusts. He highlights that Saba will likely favour a plain opportunistic arbitrage strategy to exploit the discounts to NAV among UK-listed investment trusts (by replicating the strategy of a US fund it manages, the Saba Closed-End Funds ETF), coupled with growing its own assets under management and fee income, as opposed to providing shareholders with a truly differentiated value proposition tailored to each of these trusts. He also outlines key flaws of Saba’s proposal, including risks to corporate governance, the lack of important details related to the liquidity events, change in mandate and protection of the rights of minority shareholders, as well as the biased narrative it is presenting.

***********************************************************

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/

24. Uncovering Trusts – Saba Capital Campaign

In this episode, our director of content, investment trusts Milosz Papst discusses Finsbury Growth & Income Trust (FGT), which aims to achieve capital and income growth and a total return above that of the broad UK stock market from a concentrated portfolio of primarily UK equities, with up to 20% invested in overseas companies that meet the managers’ strict criteria. He covers the trust’s differentiated approach to portfolio construction and its positioning and performance compared to the AIC UK Equity Income sector. He also explores the key themes represented in the trust’s portfolio, as well as the most recent additions to the portfolio. Finally, he elaborates on the trust’s dividend payments and the considerable amount of ‘skin in the game’ of Nick Train, the trust’s portfolio manager.

***********************************************************

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/

23. Uncovering Trusts – Finsbury Growth & Income Trust (FGT)

In this episode, Edison analyst Joanne Collins discusses Gresham House Energy Storage Fund, which seeks to provide investors with an attractive and sustainable dividend over the long term, by investing in a diversified portfolio of utility-scale battery energy storage systems located in the UK and Ireland. In addition, the company seeks to provide investors with capital growth through the reinvestment of net cash generated in excess of the target dividend. Joanne discusses the recent adverse market backdrop for the BESS sector and GRID’s response to these challenges, while also outlining the very supportive long-term fundamentals of the sector. Moreover, she explores GRID’s recently announced three-year plan, as well as the prospects for resumed dividend payments.

***********************************************************

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/

22. Uncovering Trusts – Gresham House Energy Storage Fund (GRID)

In this episode, our director of content, investment trusts Milosz Papst explores the BlackRock American Income Trust (BRAI), which aims to deliver an attractive level of income and long-term capital appreciation from a portfolio of dividend-paying companies that are trading at attractive valuations and are deemed to be ESG leaders, improvers or ‘sustainability enablers’. He explains the reason for the recent change in the trust’s name and discusses its distinct approach to investing in US equities, including its quality and value bias. In this context, he talks about the trust’s sector exposures, including healthcare, industrial technology, and energy. Finally, he summarises the trust’s approach to dividends and buybacks.

***********************************************************

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/

21. Uncovering Trusts – BlackRock American Income Trust (BRAI)

In this episode, our healthcare analyst, Jyoti Prakash, CFA, and director of content, investment trusts Milosz Papst discuss Edison’s latest thematic research note on healthcare-focused investment companies as a way of gaining exposure to the sector while managing the downside risk. Following a turbulent period in recent years, the healthcare sector (and in particular small and mid-cap biotech companies) are now primed for a turnaround. The sector remains fundamentally strong, and the downturn after 2021 led to rightsizing and more realistic valuations (which potentially offer an attractive entry point). This is coupled with continued high level of innovation, a looming patent cliff for big pharma, an uptick in IPO and M&A activity, as well as technology-driven advancements. All this creates fertile ground for a re-rating of the sector on the back of the recent reversal in the interest rate cycle, as well as the conclusion of the US presidential elections.

***********************************************************

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/

20. Uncovering Trusts – Healthcare-focused trusts: A sector on the mend

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

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

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