Andrew McHattie, editor of the Investment Trusts Newsletter, joins for a lively discussion on investment trusts. They explore the challenges and transformations within the sector, including Henderson European Trust's management changes and Warehouse REIT's bid excitement. The shift of Middlefield Canadian Income toward an active ETF is debated, examining potential pros and cons. Additionally, they cover the performance recovery of Regional REIT and HydrogenOne Capital Growth, shedding light on emerging investment opportunities despite market pressures.
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Henderson European Trust Review
Henderson European Trust faces uncertainty after co-managers' resignation triggered a strategic review.
New managers are experienced, making incumbent retention plausible but not guaranteed.
insights INSIGHT
Warehouse REIT Bid Uncertainty
Warehouse REIT's agreed bid faces uncertainty due to valuation doubts on a major asset.
A revised bid between prior offer and share price is likely, presenting speculative value.
insights INSIGHT
JP Morgan Indian Trust Strategy
J.P. Morgan Indian Trust keeps existing managers despite poor recent performance.
New tenders and fee cuts aim to improve discount control and give managers breathing space.
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In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Andrew McHattie, editor of the Investment Trusts Newsletter.
This discussion was recorded on Monday 19 May 2025.
*** Out now: The 2025 Investment Trusts Handbook ***
The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version.
***
Section Timestamps:
0:00:24 - Introduction
0:00:46 - Consolidation and Henderson European Trust (HET)
0:05:56 - A bid for Warehouse REIT (WHR)
0:08:24 - The strategic review outcome at J.P.Morgan Indian Investment Trust (JII)
0:13:33 - Bellevue Healthcare Trust’s (BBH) shift to a zero discount policy
0:19:12 - A short break
0:20:18 - Middlefield Canadian Income’s (MCT) response to Saba Capital
0:27:19 - Regional REIT (RGL)
0:30:11 - HydrogenOne Capital Growth (HGEN)
0:33:02 - Chelverton UK Dividend Trust (SDV)
0:36:06 - Chrysalis (CHRY)
0:40:31 - Harmony Energy Income Trust (HEIT) and the battery storage sector
0:46:11 - Close
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