268: Money Makers Investment Trusts Podcast - with Alexander Fitzalan Howard (05 Apr 2025)
This week, the Money Makers Investment Trusts Podcast turns five years old. Started at a time of market turmoil as the then-emerging Covid pandemic resulted in lockdowns, 268 episodes later market drama is back in the headlines again as Donald Trump imposes trade tariffs that have sent worldwide indices plummeting. It has hit investment trusts hard - sign up for the weekly Money Makers email for all the details, some commentary and a comprehensive summary of all the latest trust news.
In this edition of the podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Alexander Fitzalan Howard, manager of the J.P. Morgan European Growth and Income Trust (JEGI).
This discussion was recorded on Tuesday 01 April 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.
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Section Timestamps:
0:00:24 - The anniversary edition and more market turmoil
0:05:41 - This week’s guest
0:06:50 - Talking to Alexander Fitzalan Howard
0:07:38 - Interesting times and Trump’s tariffs
0:09:29 - The significance of developments in Germany and France
0:12:33 - ECB interest rate cuts
0:13:28 - The strength of European stock markets since the return of Trump
0:15:18 - The trust’s performance versus the peer group
0:19:56 - Looking at the trust amongst sector events
0:21:18 - The discount policy
0:21:49 - A short break
0:22:44 - The pros and cons of a closed end structure
0:26:13 - Looking back at activities over the past twelve months
0:28:31 - Valuation of the portfolio
0:30:45 - Stand out performance in the last twenty years
0:34:26 - Close
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Produced by Ben Gamblin - www.bgprofessional.co.uk
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