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Murray Income Trust

EdisonTV | Investment trusts | 08/02/2019

Bitesize briefing - Murray Income Trust

Murray Income Trust is a UK equity income investment trust whose manager, Aberdeen Standard Investments’ Charles Luke, seeks to achieve a high and growing income, along with capital growth. While mainly invested in UK equities, the trust may hold up to 20% of its portfolio overseas, in order to diversify sources of income and gain exposure to areas that are under-represented in the UK stock market. In this video, investment trusts analyst Sarah Godfrey presents an overview of Murray Income Trust, covering its investment process, which has been enhanced by the merger of Aberdeen Asset Management and Standard Life Investments in 2017, and the manager’s investment themes. She also looks at the trust’s performance record and discusses other factors such as its higher-than-average dividend yield and low ongoing charges. Read the full report.

Executive interview - Frenkel Topping

Executive interview - Frenkel Topping

Richard Fraser, CEO of Frenkel Topping (FEN.LN), discusses how the company has an advantage over wealth manager peers and the next stage in its organic growth plans, with scope to double AUM and fee income, as well as adding bolt-on acquisitions, with a pipeline opportunity of c £1bn of assets.
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17/04/2019 |

Fund manager interview - FP CRUX UK Special Situations Fund

Fund manager interview - FP CRUX UK Special Situations Fund

Richard Penny discusses the CRUX UK Special Situations Fund, an open-ended, actively managed long-only fund which he has managed since its inception in September 2018. The Fund aims to achieve long-term capital growth through active management, by bottom-up stock picking through the cap scale while maintaining a concentrated portfolio with a maximum of 30% on the AIM market. In this interview Richard discusses why a special situations investment strategy is interesting now and how this evolves over the course of the equity cycle. He discusses his approach for stock screening and selection and the important lessons he has learned during his 26 year career in fund management. Finally he discusses two stocks he holds and the rationale for investing – JD Sports and MaxCyte.
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27/03/2019 |

Fund manager interview - Milltrust International

Fund manager interview - Milltrust International

Simon Hopkins, Founder and CEO of Milltrust International, oversees institutional investments across a range of public and alternative assets. Milltrust is invested across 32 developing public equity markets, where returns have been 3x those of the MSCI Emerging Markets Index, since inception. The company also has substantial institutional allocations to farmland investments in Australia and New Zealand, generating a coupon of 5.5% . It has exposure in science and technology investments through the British Innovation Fund, partnering with Oxford, Cambridge, Edinburgh and Exeter Universities. Sustainable prosperity is a key investment theme across the firm.
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25/03/2019 |

Bitesize briefing - Volta Finance

Bitesize briefing - Volta Finance

In this short video, Milosz Papst provides an introduction to Volta Finance, an investment fund providing exposure to a diversified portfolio of structured finance assets, in particular collateralised loan obligations (CLOs).
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19/03/2019 | Volta Finance

Executive interview – Hermes Investment Management

Executive interview – Hermes Investment Management

Andrew Parry, Head of Sustainable Investing at Hermes Investment Management, talks to us about the company's commitment to delivering holistic returns – outcomes which consider the impact that decisions have on society, the environment and the wider world. The company's philosophy is that for the economy to be sustainable, all resources have to be used optimally and costed appropriately, and to ensure that the global financial system operates in the interests of its ultimate asset owners, not its various agents. Hermes has £33.5bn in AUM and Hermes EOS is one of the industry’s leading engagement resources, advising on £389bn of assets.
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13/03/2019 | Hermes Investment Management

Executive interview – Algebris

Executive interview – Algebris

Algebris, with €11bn AUM, is a global investment manager that embraces long-only and alternative strategies. Founded in 2006 by CEO David Serra, Algebris has broadened its financials sector expertise (in equity and credit) to the global credit and Italian securities spaces. The Algebris quant team has exclusive access to proprietary algorithms and quant statistical arbitrage UCITS-compliant strategies, benefiting from changes in volatility regime, regardless of market correction. Over the years, team findings have been presented at major monetary institutions (including the Bank of England, IMF in London, EBRD, Bank of Italy) and top universities (eg Oxford, Imperial College).
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05/03/2019 | Algebris

Fund manager interview - Nick Brind, Polar Capital Global Financials Trust

Fund manager interview - Nick Brind, Polar Capital Global Financials Trust

Nick Brind, co-manager of the Polar Capital Global Financials Trust (PCFT), discusses why the world’s largest sector (by market cap) could generate substantially different returns over the next decade. Nick explains why the sector has become neglected and how headwinds are receding following the financial crisis - as well as outlining the attractive valuations of financial stocks. PCFT is managed to provide a lower-risk way to access global financials via a highly experienced management team. It has an income & growth approach and has generated total returns of 9% per year with low volatility since launch in 2013; and this from a sector still hovering around its post-crisis valuation lows…
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04/03/2019 | Polar Capital Global Financials Trust

Executive interview – Securities Trust of Scotland

Executive interview – Securities Trust of Scotland

Securities Trust of Scotland (LSE:STS) was launched in 2005, and aims to provide rising income and long-term capital growth through a portfolio of global equities. In May 2016, Mark Whitehead was appointed as fund manager and the Trust adopted an unconstrained mandate from 1 June 2016, measuring performance versus the rolling three-year median return of open- and closed-ended peers. The investment approach is fundamental, with a rigorous approach to build a relatively concentrated portfolio of 35-55 high-conviction stocks.
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26/02/2019 | Securities Trust of Scotland

Executive interview – Sealand Capital Galaxy

Executive interview – Sealand Capital Galaxy

Sealand Capital Galaxy is an investment company focused on the IT and digital sectors in the Asia Pacific region with high growth potential, and the company’s shares are traded on the main market of the London Stock Exchange.
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15/02/2019 | Sealand Capital Galaxy

Bitesize briefing - Murray Income Trust

Bitesize briefing - Murray Income Trust

Murray Income Trust is a UK equity income investment trust whose manager, Aberdeen Standard Investments’ Charles Luke, seeks to achieve a high and growing income, along with capital growth. While mainly invested in UK equities, the trust may hold up to 20% of its portfolio overseas, in order to diversify sources of income and gain exposure to areas that are under-represented in the UK stock market. In this video, investment trusts analyst Sarah Godfrey presents an overview of Murray Income Trust, covering its investment process, which has been enhanced by the merger of Aberdeen Asset Management and Standard Life Investments in 2017, and the manager’s investment themes. She also looks at the trust’s performance record and discusses other factors such as its higher-than-average dividend yield and low ongoing charges.
Watch »

08/02/2019 | Murray Income Trust

Executive interview – Seneca Global Income & Growth Trust

Executive interview – Seneca Global Income & Growth Trust

Seneca Global Income & Growth Trust (LSE:SIGT) was launched in 2005 and adopts a ‘multi-asset value investing’ approach, aiming to generate income and capital growth with low volatility by investing in a multi-asset portfolio of equities, fixed income and specialist assets. Since July 2017, SIGT’s performance has been benchmarked against CPI +6%. Annual dividends have increased each year since 2013. On 1 August 2016, SIGT adopted a discount control mechanism aiming to ensure that its share price trades very close to NAV.
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30/01/2019 | Seneca Global Income & Growth Trust

Bitesize briefing – Aberdeen Asian Income Fund

Bitesize briefing – Aberdeen Asian Income Fund

Aberdeen Asian Income Fund invests across Asia in quality companies offering attractive yields and the potential for capital and income growth. It may also hold a small number of fixed income securities. In this video, investment companies analyst Sarah Godfrey presents an overview of Aberdeen Asian Income Fund, covering its investment process, income focus, and the manager’s investment themes. She also looks at the trust’s performance record and discusses the factors contributing to its current discount to net asset value, which is wider than those of its close peers.
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20/12/2018 | Aberdeen Asian Income Fund

Executive interview - Seneca Global Income & Growth Trust

Executive interview - Seneca Global Income & Growth Trust

Seneca Global Income & Growth Trust (SIGT) was launched in 2005 and adopts a ‘multi-asset value investing’ approach, aiming to generate income and capital growth with low volatility by investing in a multi-asset portfolio of equities, fixed income and specialist assets. Since July 2017, SIGT’s performance has been benchmarked against CPI +6%. Annual dividends have increased each year since 2013. On 1 August 2016, SIGT adopted a discount control mechanism aiming to ensure that its share price trades very close to NAV.
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25/10/2018 | Seneca Global Income & Growth Trust

Executive interview – Toscafund Asset Management

Executive interview – Toscafund Asset Management

Dr Savvas Savouri, chief economist at Toscafund, discusses issues affecting the current macro-economic climate including Brexit, China and president Trump. Toscafund Asset Management LLP, founded in 2000 by Martin Hughes, is a multi-asset fund management firm with approximately $4bn of assets under management. Dr Savouri’s discussion papers can be found here.
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16/10/2018 | Toscafund Asset Management

Bitesize briefing - Fidelity Japan Trust

Bitesize briefing - Fidelity Japan Trust

Fidelity Japan Trust (formerly Fidelity Japanese Values) is a Japan-focused investment trust whose manager, Fidelity’s Nicholas Price, invests across the size spectrum in Japanese equities offering growth at a reasonable price. In this video, investment companies analyst Sarah Godfrey presents an overview of Fidelity Japan Trust, covering its investment process, recent changes (including to the name and reference index), and the manager’s investment themes. She also looks at the trust’s performance record and discusses the factors contributing to its current wider-than-average discount to net asset value.
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01/10/2018 | Fidelity Japan Trust

Fund Manager interview - Alex Gunz, Heptagon Capital

Fund Manager interview - Alex Gunz, Heptagon Capital

Alex Gunz co-manages the Heptagon Future Trends Equity Fund. Launched in 2016, the Fund is a daily-traded, unlevered UCITS fund registered in Dublin and is Heptagon’s third in-house fund under its UCITS umbrella. The Fund invests in businesses exposed to long-term future trends, which are characterised by their exponential growth potential, the increased efficiency they bring and their inherently disruptive potential. Detailed proprietary research supports all of the investments made in the Fund.
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25/06/2018 | Heptagon

Fund manager interview - Rosemary Banyard

Fund manager interview - Rosemary Banyard

Rosemary Banyard launched the CFP Sanford DeLand Free Spirit Fund in January 2017. In this interview she gives an overview of the fund, her investment process, examples of the kind of stocks she likes to hold and shares her views on the issues that management of listed companies should be considering in light of MiFID II.
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24/04/2018 |

Executive interview - Seneca Global Income & Growth Trust

Executive interview - Seneca Global Income & Growth Trust

Seneca Global Income & Growth Trust (LSE:SIGT) was launched in 2005 and adopts a ‘Multi-Asset Value Investing’ approach, aiming to generate income and capital growth with low volatility by investing in a multi-asset portfolio of equities, fixed income and specialist assets. Since July 2017, SIGT’s performance has been benchmarked against CPI +6%. Annual dividends have increased each year since 2013. On 1 August 2016, SIGT adopted a discount control mechanism aiming to ensure that its share price trades very close to NAV.
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01/03/2018 | Seneca Global Income & Growth Trust

Executive interview - Canadian General Investments

Executive interview - Canadian General Investments

Canadian General Investments (LSE:CGI and TSE:CGI) was launched in 1930, it is North America’s second-oldest closed-end fund. Since 1956, it has been managed by Morgan Meighen & Associates. Portfolio manager Greg Eckel invests with a medium- to long-term outlook in a broad selection of primarily Canadian equities, aiming to outperform the total return of the benchmark S&P/TSX Composite Index. CGI has a favourable tax status, but to maintain this, the trust is unable to repurchase its shares to help manage the share price discount to net asset value. CGI has followed a levered strategy since 1998 and more than 50% of its shares are held by related parties.
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14/02/2018 | Canadian General Investments

Executive interview - Tetragon Financial Management

Executive interview - Tetragon Financial Management

Tetragon Financial Group’s investment objective is to generate distributable income and capital appreciation, aiming to provide stable returns to investors across various credit, equity, interest rate, inflation and real estate cycles. The investment portfolio comprises a broad range of assets, including a diversified alternative asset management business, TFG Asset Management, and covers bank loans, real estate, equities, credit, convertible bonds and infrastructure. In this video, Tetragon co-founder and director Paddy Dear provides an overview of TFG Asset Management and explains how it fits into Tetragon’s investment portfolio. Tetragon is scheduled to publish its end-December 2017 monthly factsheet today, providing updated key performance metrics and portfolio analysis.
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31/01/2018 | Tetragon Financial Group