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Monthly Roundup: Top performing managers leave, BlackRock's gold view and who's buying India?
Description
Join Jo Groves, Ryan Lightfoot-Aminoff and David Brenchley from Kepler Trust Intelligence for a roundup of all the news that matters to investment trust investors in March, brought to you in association with Schroders.
In the news, Ryan looks at the impact of manager changes at the highly successful Golden Prospects Precious Metals (GPM), Geiger Counter (GCL) and CQS Natural Resources Growth & Income (CYN) trusts. Next, he summarises the fee changes at Alliance Witan (ALW) and STS Global Income & Growth (STS), before briefly running through the updates of the Saba saga on Edinburgh Worldwide (EWI) and Impax Environmental Markets (IEM).
Onto results, and we start with a brief overview of the annual results of Schroder Asian Total Return (ATR) including looking at what their macro indicators were saying ahead of the market volatility this year. Elsewhere, David looks at Octopus Renewables Infrastructure (ORIT)’s results and whether the increase in energy prices will lead to a change in the trust’s revenue outlook.
In this month’s final set of results, Jo looks at BlackRock World Mining (BRWM) and summarises how they have achieved such high returns. In a well-timed moved, BRWM’s manager Olivia Markham was our guest on the Market Matters podcast this month, allowing Jo to also summarise her thoughts on the wider sector including the outlook for gold.
Next up, David talks through his highlights of his Ashoka India Equity (AIE) podcast, discussing why India has suffered and whether this affects the outlook for the country. In light of this, the team discuss their thoughts on India and reveal who has been brave enough to add to their exposure.
Jo takes her turn for stat of the month discussing a Bank of America Merrill Lynch survey as to whether the period of US exceptionalism has peaked following rising geopolitical risks including what sectors this has led to a rotation to, and from.
00:00 Introduction
00:22 What’s to come
00:51 GPM, GCL & CYN manager changes
02:17 Fee cuts for ALW and STS
03:42 Saba approaches an IEM and EWI endgame
05:06 ATR’s results
06:44 ORIT’s results and dividend outlook
08:29 BRWM’s strong results
09:36 Olivia Markham’s thoughts on gold
12:50 AIE’s insights on India’s issues
15:17 India discussion
19:13 Stat of the month & US rotation
20:23 Risk warning
Special thanks to our sponsors at Schroders, whose support makes this podcast possible - click here to view all of our research on the Schroders investment trust range.
This podcast was recorded on 07/04/2026.