Weekly Investment Trusts Podcast - featuring Russell Napier and Max King (27 May 2023)

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, is joined by financial historian and market strategist Russell Napier, chairman of Mid Wynd International Investment Trust (MWY), in part one of their recent conversation (part two follows next week). Jonathan also speaks to Max King, former investment trust fund manager at Investec. Section Timestamps: 01:05 - The markets this week 03:46 - Investment trusts news 11:21 - This week's results 15:15 - Money Makers Circle 15:42 - Noteable interim results 17:14 - Q&A with Russell Napier (Part 1) 17:43 - The Federal debt ceiling 27:15 - The debt burden 29:40 - The 2% inflation target 36:37 - The attractiveness of bonds going forward 37:31 - Q&A with Max King 37:40 - How the year is panning out 40:46 - The Bank of England's response to inflation 42:22 - The UK market 44:52 - The investment trusts sector 45:31 - Infrastructure and renewables 49:05 - Commercial property 50:59 - Social housing 53:02 - Caledonia Investments (CLDN) and private equity 55:52 - Japanese trusts merger 57:24 - Twitter under Elon Musk 58:22 - Close Gresham House Energy Storage (GRID), CT Property Trust (CTPT) / LondonMetric (LMP), Momentum Multi-Asset Value Trust (MAVT), RM Infrastructure Income (RMII), M&G Credit Income (MGCI), Round Hill Music Royalty Fund (RHM), Capital Gearing Trust (CGT), HICL Infrastructure (HICL), JPMorgan Asia Growth and Income (JAGI), Schroder AsiaPacific (SDP), Henderson European Focus Trust (HEFT), Ediston Property Investment Company (EPIC), Shires Income (SHRS), Rockwood Strategic (RKW), Odyssean (OIT), 3i Infrastructure (3IN), BBGI Global Infrastructure (BBGI), Ashoka WhiteOak Emerging Markets Trust (AWEM), CT Property Trust (CTPT), Primary Health Properties (PHP), Assura (AGR), Derwent London (DLN), Great Portland Estates (GPOR), Shaftesbury Capital (SHC), Land Securities (LAND), TR Property (TRY), Home REIT (HOME), AEW UK REIT (AEWU), Civitas Social Housing (CSH), Caledonia Investments (CLDN), RIT Capital Partners (RCP), Scottish Mortgage (SMT), HG Capital Trust (HGT), 3i Group (III), Literacy Capital (BOOK), Nippon Active Value (NAVF) / Abrdn Japan (AJIT). If you enjoy the weekly podcast, you may also find value in joining The Money Makers circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, market/portfolio reviews and regular extracts from the editor's notebook. This week, as well as the regular features, the Circle features a profile of Abrdn Property Income Trust (API). For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free. We are very grateful for your continued support and the enthusiastic response to our 160 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.