Your vote counts: the investment trust AGMs in April
25th March 2022 09:35
In a new monthly series, Kepler Trust Intelligence highlights upcoming investment trust annual general meetings.
As we approach the end of the first quarter, markets continue to whipsaw on the back of fresh horrors in Ukraine and the rest of the world’s attempts to handle Russia’ gangsterism without pushing things to the point of full military conflict.
The Federal Reserve recently raised interest rates, but rising inflation remains a concern, with the UK’s Consumer Price Index (CPI) for February coming in at 6.2%, which is higher than economists’ expectations of 5.9%. With the end of the tax year fast approaching, April is certainly shaping up to be a busy month, with 16 investment trusts planning to host their annual general meetings (AGM).
April 2022 upcoming AGMs
|
Investment trust name |
Ticker |
AIC sector |
Date of upcoming AGM |
|
ATY |
UK Smaller Companies |
05/04/2022 | |
|
SAINTS |
Global Equity Income |
05/04/2022 | |
|
DORE |
Renewable Energy Infrastructure |
06/04/2022 | |
|
LWDB |
UK Equity Income |
07/04/2022 | |
|
PCFT |
Financials |
07/04/2022 | |
|
ACIC |
China |
12/04/2022 | |
|
HRI |
Global Smaller Companies |
19/04/2022 | |
|
ATST |
Global |
21/04/2022 | |
|
BBH |
Biotechnology & Healthcare |
22/04/2022 | |
|
MYI |
Global Equity Income |
22/04/2022 | |
|
JUSC |
North American Smaller Companies |
25/04/2022 | |
|
ATT |
Technology and Media |
26/04/2022 | |
|
GSEO |
Renewable Energy Infrastructure |
27/04/2022 | |
|
UKW |
Renewable Energy Infrastructure |
28/04/2022 | |
|
PMGR |
Infrastructure Securities |
28/04/2022 | |
|
GRP |
Renewable Energy Infrastructure |
29/04/2022 |
Source: Association of Investment Companies (AIC).
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Two AGMs that have caught our eye
Although much of the recent focus on market sentiment has been on American and European markets, China has endured a challenging year. Investors may be interested in hearing from the team at abrdn China (ACIC), which has its AGM on 12 April. While recent conditions for Chinese equities have been extremely challenging, fund manager Nicholas Yeo – who spoke at the Kepler Trust Intelligence spring conference last week – said that he sees a good long-term opportunity in Chinese equities, which are sitting on average P/E ratios of 12x earnings with forecasted earnings growth of more than 15%.
BB Healthcare (BBH) hosts its AGM on 22 April, and this could also be worth tuning into. Speaking at the same Kepler conference, Paul Major who manages the trust gave a very bullish outlook on the future for the healthcare sector, which has been dragged down with everything else, and we note that the team has increased gearing levels on the trust.
Neema Nabavian is an investment trust research analyst at Kepler Trust Intelligence.
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