Episode Details

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 July, brought to you in association with Schroders. 

In the news, Ryan highlights the destination of former River UK Micro Cap (RMMC) manager George Ensor, as well as picking over the positive, and negative, news from International Public Partnerships (INPP).

Before running through their recent half-year results, David provides a summary on RIT Capital Partners (RCP), including how the portfolio works. In the results, David highlights some of the portfolio changes, key contributors to performance and what’s happening with the dividend. Meanwhile, Ryan then covers the results in Schroder Real Estate Income (SREI) including what has happened in the past year and an update on the takeover of Picton Property. 

Turning to podcasts, David recaps his chat with Matt Cable of Rights & Issues (RIII), which included a summary of the active versus passive debate, and more stats on the value opportunity within the UK smaller companies asset class. Sticking with David, he then goes through the highlights of his podcast with Ashoka WhiteOak Emerging Markets (AWEM) including a discussion on how their SMID cap bias has fared in a weak environment for the asset class. 

It was Jo’s turn to look over the most-bought trusts, which is again topped by Scottish Mortgage (SMT) although with a quick update on their SpaceX holding. Elsewhere, the lists see a welcome return of a few of the renewables trusts, potentially heralding a return. Jo also takes on stat of the month, which has a look at US valuations, particularly in the AI space and whether these really are a bubble or not?

To close the show, we review what caught our eye over the summer, including what lessons David has picked up from the books he read over the summer, what Jo has learned from old papers unearthed in her house move and whether Ryan’s sleep deprivation has helped him get a handle on President Trump’s foreign policy.

00:00 Introduction 
00:24 What’s to come
00:51 Ensor’s destination
02:15 INPP’s ups and downs
05:03 RIT Cap review & results
08:55 SREI results
10:48 RIII active vs passive
13:40 AWEM survives the SMID sell off
15:21 Renewables return to most bought
17:09 Not an AI bubble?
19:43 Our summer reads 
26:35 Risk warning 

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