Money Makers

Andrew McHattie is back for his regular monthly appearance in this edition of the Money Makers Investment Trusts Podcast, where he and host with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025), discuss the ongoing impact of the Iran War, Saba Capital and developments with Edinburgh Worldwide and Impax Environmental Markets, Seraphim Space Investment Trust, and more. This discussion was recorded on Friday 17 April 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! Jonathan will be appearing alongside Peter Hewitt at the Master Investor Show on Saturday 25 April, where they’ll discuss and answer questions relevant to private investors ranging from the Iran war and Trumponomics to Saba Capital and their own preferen

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025) takes a look back over the past six years and where the investment trusts sector is now, as the podcast moves into its seventh year. Then this week's guest, Stuart Widdowson, manager of the Odyssean Investment Trust (OIT) discusses the impact of the Middle East crisis on global markets, UK equities, and interest rate expectations; the Trust's performance, strategy, and portfolio management; and potential catalysts for the Trust. This edition was recorded on Thursday 09 April (Interview) and Friday 10 April (Jonathan's comment). Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! Section Timestamps: 0:00:37 - I

In this anniversary edition of the Money Makers Investment Trusts Podcast which has now been running for six years, Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025) is joined first by Jasmine Yeo, manager of the Ruffer Investment Company (RICA), and then by Charlie Morris, founder of Bytetree Research. These discussions were recorded on Thu 02 Apr 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! Section Timestamps: 0:00:37 - Introduction 0:01:22 - This week’s guests 0:02:08 - Performance of the markets 0:02:47 - Jasmine Yeo 0:03:12 - Summing up the last year 0:06:40 - The shape of the portfolio 0:11:42 - Higher inflation 0:13:43 - The allocation to bonds 0:18:38 - Monetary policy uncertainty 0:20:39 - Weighting

In this extended edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award) is joined by two guests. First, Peter Hewitt, former manager at the CT Global Managed Portfolio Trust, and then Carlos Hardenberg, lead manager at the Mobius Investment Trust, to discuss - amongst other things - the ongoing impact of the Iran War on financial markets and the investment trusts sector. These discussions were recorded on Wed 25 March (Carlos Hardenberg) and Fri 27 March (Peter Hewitt). Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! Section Timestamps: 0:00:24 - Introduction 0:00:44 - Peter Hewitt 0:00:49 - Looking at the markets 0:06:42 - Waiting for the dust to settle 0:12:43 - Discounts 0:17:58

This week we have two guests from BlackRock Energy Resources Income (BERI) joining the podcast: manager Tom Holl and chairman Adrian Brown. We discuss the impact of conflict in the Middle East and the trust's three-pronged approach ahead of its continuation vote next week. Hosted by Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). Recorded on Thursday 19 March 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested

Regular guest Andrew McHattie, editor of the Investment Trusts Newsletter, returns to the Money Makers Investment Trusts Podcast this week, discussing, amongst other things, the impact of the Middle East crisis on the investment trusts sector, the latest Saba Capital developments, and resignations at fund management firm CQS - with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on Thursday 12 March 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the n

In this edition of the Money Makers Investment Trusts Podcast, Paul ffolkes Davis, chairman of Rising Sun Management - the company which manages the Nippon Active Value Fund (NAVF) - discusses the impact of Japan's political shift following the recent election, activist investing, and market consolidation, with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on Monday 02 March 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the h

Battery storage's rollercoaster ride! In this edition of the Money Makers Investment Trust Podcast, Ben Guest, lead manager of Gresham House Energy Storage (GRID), discusses the challenges the trust has faced over the last couple of years and the need for a change in mindset by the UK's energy grid management, with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on 16 February 2026. Jonathan is now writing market and other comments on Substack (jdinvestor.substack.com), and for those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the h

Japan's dramatic election: what it means for investors. In this edition of the Money Makers Investment Trust Podcast, Nicholas Wiendling, manager of J.P. Morgan Japanese (JFJ), discusses the landslide electoral win of Sanae Takaichi, the future of corporate governance reform and investment opportunities in the Japanese market, with Jonathan Davis, editor of the Investment Trusts Handbook (winner of the AIC Best Broadcast Journalist Award 2024 and 2025). This discussion was recorded on Tuesday 17 February 2026. For those of you who follow Money Makers on social media, two new channels are now available - TikTok (@moneymakers_its) and Bluesky (@money-makers.co). Do give us a follow! Jonathan is also now writing market and other comments on Substack (jdinvestor.substack.com).  Section Timestamps: 0:00:24 - Introduction 0:01:06 - Reacting to the election result in Japan 0:06:01 - Japan’s relationship with the US 0:07:25 - The Japanese bond market 0:09:05 - Corporate governance changes 0:13:33 - The yen 0:17:

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on 12 February 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensive

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Gabriel Sacks, lead manager at the Aberdeen Asia Focus Trust (AAS). This discussion was recorded on Friday 06 February 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Jean Hugues de Lamaze, portfolio manager at Ecofin Global Utilities and Infrastructure (EGL), , to discuss the trust's investment themes, its portfolio management, and the energy transition alongside demand driven by AI. This discussion was recorded on Tuesday 27 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and edito

Disclaimer: Money Makers has not had the opportunity to speak to the Chairman of Baillie Gifford Shin Nippon regarding the future of the investment trust, however it was deemed justified to publish this discussion on the ground of interest to shareholders with the proposal for a tender offer being put to a vote in mid-February. Money Makers remains neutral to the outcome for the trust. -- In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Edward Cartwright, CEO of Arcus Investment Management, to discuss the proposal to manage the Baillie Gifford Shin Nippon Trust (BGS). This discussion was recorded on Tuesday 27 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Peter Hewitt, former manager of the CT Global Managed Portfolio Trust (CMPI/CMPG). Names that feature include Scottish Mortgage (SMT), Templeton Emerging Markets (TEM), Edinburgh Worldwide (EWI), Herald (HRI) and several others in both the equity and alternatives subs-sectors. This discussion was recorded on Friday 23 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Ashley Thomas, renewables infrastructure analyst at Winterflood Securities, to discuss the latest UK offshore wind auction and why the business model of the renewable energy investment trusts is broken This discussion was recorded on Friday 16 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Maker

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Jonathan Simpson-Dent, chairman of Edinburgh Worldwide (EWI), a trust which is once again being targeted by Saba Capital. This discussion was recorded on Monday 05 January 2026. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent

In this special, end of year edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by four guests for their comments on the year just gone and the outlook for 2026. Those guests are Ben Conway, James Carthew, Anthony Leatham, and Max King These discussions were recorded between 12-18 December 2025. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podca

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Andrew McHattie, editor of the Investment Trusts Newsletter. This discussion was recorded on Friday 19 December 2025. We would like to wish all of our listeners a very merry Christmas. Thank you for listening in 2025 and we hope you join us throughout 2026 as we continue to report on developments in the investment trusts sector. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Charlotte Cuthbertson and Tom Treanor, co-managers of MIGO Opportunities Trust (MIGO). This discussion was recorded on Tuesday 09 December 2025. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, availabl

Due to a technical issue, the audio quality in this edition is a bit lower than normal, for which we apologise. -- In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by Peter Spiller, manager of Capital Gearing Trust (CGT), for an in-depth review of investment trusts yesterday, today and tomorrow. Saba, Smithson, discount controls, private equity and the coming market crisis among the issues covered. This discussion was recorded on Thursday 04 December 2025. *** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358 The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s c