207: Weekly Investment Trusts Podcast - with Dominic Scriven and Ian Lance (20 Apr 2024)

Money Makers

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, reviews the week in the markets and speaks to Dominic Scriven, founder and chairman of Dragon Capital, the investment advisor to Vietnam Enterprise Investments (VEIL), and Ian Lance, co-manager of the Temple Bar Investment Trust (TMPL). We are grateful for the support of J.P. Morgan Asset Management, which enables us to keep the podcast free. Section Timestamps: 0:00:39 - This week's guests 0:01:48 - Review of the week 0:04:17 - Corporate news and summary of results 0:07:50 - Money Makers Circle 0:09:04 - Q&A with Dominic Scriven 0:09:32 - A history of VEIL 0:13:27 - Restrictions on foreign investment 0:16:30 - Transitioning to emerging market status 0:18:36 - Reasons to invest in Vietnam as a country 0:27:21 - Geopolitical risks 0:37:12 - Addressing VEIL's discount 0:43:25 - Q&A with Ian Lance 0:43:47 - UK equity market 0:48:43 - The trust's discount policy 0:49:20 - Mergers and acquisitions 0:54:26 - Share buybacks 0:59:49 - Sectoral headwinds 1:01:23 - The case for TMPL shares 1:03:39 - Close Trusts mentioned this week (with tickers): Hipgnosis Songs Fund (SONG), Fair Oaks Income (FAIR), Schroder Japan (SJG), UK Commercial Property (UKCM), Hydrogenone (HGEN), Middlefield Canadian Income (MCT), Castelnau Group (CGL), Balanced Commercial Property Trust (BCPT), Alliance Trust (ATST), Home REIT (HOME), Harmony Energy Income (HEIT), Gresham House Energy Storage (GRID), Ashoka India Equity (AIE), Invesco Select (IVPU), Aquila Energy Efficiency (AEET), NextEnergy Solar (NESF), Vietnam Enterprise Investments (VEIL), Vietnam Holdings (VNH), VinaCapital Vietnam Opportunity Fund (VOF). 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 usual features, the Circle features a profile of STS Global Income & Growth (STS). Future profiles include Artemis Alpha (ATS) and VH Global Sustainable Energy Opportunities (GSEO). Remember to look out for the latest edition of our new expanded weekly subscriber email which summarises Jonathan's latest thoughts and includes all the regular features available in the Circle. The content of that email is also available for subscribers via the website. 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 nearly 210 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.