222: Weekly Investment Trusts Podcast - with Denis Jackson and Laura Foll (03 Aug 2024)

Money Makers

In this week's edition of the Weekly Investment Trust Podcast, Jonathan Davis remains on holiday, so Stuart Watson fills in once again, providing the latest news and events from the past week. Despite the break, Jonathan still had the opportunity to speak with Denis Jackson and Laura Foll from Law Debenture (LWDB), the UK equity income trust. The podcast itself will take a short break next week, but is scheduled to return with the next edition on Saturday 17 August 2024. 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 0:00:56 - Review of the week 0:02:24 - Summary of results 0:04:23 - Corporate news and announcements 0:06:25 - Money Makers Circle and a short break for the podcast 0:06:51 - Q&A with Denis Jackson and Laura Foll 0:07:09 - The unique structure of Law Debenture 0:14:19 - Procyclicality of the business 0:17:31 - Sustainability of performance 0:20:57 - The result of the election 0:26:41 - Taking advantage of trading at par 0:27:36 - Share register trends 0:29:23 - Law Debenture's part in consolidation 0:30:05 - The main risks 0:34:07 - Comparing LWDB, LWI, and HOT 0:37:06 - Missing out on being an AIC Dividend Hero 0:38:03 - Close Trusts mentioned (with tickers) include: CT Managed Portfolio (CMPI/CMPG), Pantheon International (PIN), Henderson Smaller Companies (HSL), Smithson (SSON), RIT Capital Partners (RCP), Scottish American (SAIN), F&C Investment Trust (FCIT), J.P. Morgan Japanese (JFJ), J.P. Morgan Japan Small Cap Growth & Income (JSGI), Chrysalis (CHRY), BioPharma Credit (BPCR), Pershing Square Holdings (PSH), Hipgnosis Songs (SONG), Law Debenture (LWDB), Lowland Investment Company (LWI), Henderson Opportunities Trust (HOT). 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. Due to the August break there is no new fund profile available this week, but you can look forward to future profiles including Oryx International Growth (OIG) and the Edinburgh Investment Trust (EDIN). Look out for the latest edition of our new expanded weekly subscriber email which summarises Jonathan's latest thoughts and includes a comprehensive summary of all the latest news. 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 more than 220 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.