Interactive Investor

Your vote counts: the investment trust AGMs in July 2022

Popular investment trusts with AGMs coming up include Personal Assets, Edinburgh, and JPMorgan Multi-Asset Growth & Income.

July looks set to be another busy month for investment trust investors with 39 AGMs planned before the end of the month.

Trusts from a broad range of sectors will be taking the stand including infrastructure funds, various venture capital vehicles, smaller companies trusts, and equity income trusts including the veteran Edinburgh Investment (LSE:EDIN) Trust.

Six members of the AIC Flexible Investment sector are due to hold their AGMs this month, which should be of interest to those seeking an alternative to straight equities at this difficult time for markets.

Among them is Personal Assets (LSE:PNL), one of the best known capital protection-focused investment trusts in the business with a strong long-term track record of positive returns. PNL will be seeking approval on 14 July for a proposed 100 for 1 share split which, if the resolution is passed, will make the trust’s shares (currently trading at around £500 per share) much more accessible for ordinary investors, particularly monthly savers.

PNL will hold its AGM in person in Edinburgh for the first time since before the pandemic struck, but will also allow shareholders to view a recording of the investment manager’s presentation online via the company website afterwards.

A number of trusts (see table) are allowing shareholders to take part in their AGMs this month via virtual means and some – including Edinburgh Investment Trust and Momentum Multi-Asset Value Trust (LSE:MAVT) will even be allowing live virtual participation with voting by proxy encouraged. Shareholders who prefer to join the boards in person are invited to do so in Edinburgh on 21 July for EDIN and London on 26 July for MAVT.

JPMorgan Multi-Asset Growth & Income (LSE:MATE) and JPMorgan European Discovery (LSE:JEDT) will also be allowing virtual participation in their London AGMs (8 July and 18 July) and the managers will give a presentation to shareholders for each trust, reviewing the past year and commenting on the outlook for the current year. Again, voting online will not be possible and shareholders are encouraged to register in advance to vote by proxy.

TrustSectorFinancial year endNext AGMLocationOnline option?
Worldwide Healthcare (LSE:WWH)Biotechnology & HealthcareMarch06/07/2022London 
Biotech Growth (LSE:BIOG)Biotechnology & HealthcareMarch19/07/2022London 
Fidelity China Special Situations (LSE:FCSS)China / Greater ChinaMarch20/07/2022London 
Vietnam Enterprise (LSE:VEIL)Country SpecialistDecember14/07/2022Hong Kong 
Weiss Korea Opportunity (LSE:WKOF)Country SpecialistDecember22/07/2022Guernsey 
Axiom European Financial Debt (LSE:AXI)Debt - Loans & BondsDecember25/07/2022Guernsey 
JPMorgan European Growth & Income (LSE:JEGI)EuropeMarch07/07/2022London 
JPMorgan European Discovery (LSE:JEDT) European Smaller CompaniesMarch18/07/2022LondonYes
JPMorgan Multi-Asset Growth & Income (LSE:MATE)Flexible InvestmentFebruary08/07/2022LondonYes
Capital Gearing (LSE:CGT)Flexible InvestmentMarch12/07/2022London 
Personal Assets (LSE:PNL)Flexible InvestmentApril14/07/2022Edinburgh 
Momentum Multi-Asset Value Trust (LSE:MAVT)Flexible InvestmentApril26/07/2022London 
Caledonia (LSE:CLDN)Flexible InvestmentMarch27/07/2022London 
Templeton Emerging Mkts (LSE:TEM)Global Emerging MarketsMarch14/07/2022London 
Global Smaller Companies Trust (LSE:GSCT)Global Smaller CompaniesApril28/07/2022London 
3i Infrastructure (LSE:3IN)InfrastructureMarch07/07/2022London 
HICL Infrastructure (LSE:HICL)InfrastructureMarch20/07/2022London 
abrdn Japan (LSE:AJIT)JapanMarch01/07/2022London 
JPMorgan Japan Small Cap Growth & Income (LSE:JSGI)Japanese Smaller CompaniesMarch27/07/2022London 
DP Aircraft I (LSE:DPA)LeasingDecember29/07/2022Guernsey 
HarbourVest Global Private Equity (LSE:HVPE)Private EquityJanuary20/07/2022GuernseyYes
Value and Indexed Property Income (LSE:VIP)Property - UK CommercialMarch08/07/2022Edinburgh 
Shires Income (LSE:SHRS)UK Equity IncomeMarch06/07/2022London 
CT UK High Income (LSE:CHI)UK Equity IncomeMarch20/07/2022London 
Edinburgh Investment (LSE:EDIN)UK Equity IncomeMarch21/07/2022EdinburghYes
Downing Strategic Micro-Cap (LSE:DSM)UK Smaller CompaniesFebruary11/07/2022London 
Montanaro UK Smaller Companies (LSE:MTU)UK Smaller CompaniesMarch27/07/2022London 
Octopus AIM VCT (LSE:OOA)VCT AIM QuotedFebruary21/07/2022London 
Maven Income & Growth VCT (LSE:MIG1)VCT GeneralistFebruary07/07/2022London 
Octopus Apollo VCT (LSE:OAP3)VCT GeneralistJanuary07/07/2022London 
Puma VCT 13 (LSE:PU13)VCT GeneralistFebruary07/07/2022London 
Triple Point VCT 2011 A sharesVCT GeneralistFebruary14/07/2022London 
Triple Point VCT 2011 B (LSE:TPOB)VCT GeneralistFebruary14/07/2022London 
ProVen Growth and Income VCT (LSE:PGOO)VCT GeneralistFebruary20/07/2022London 
ProVen VCT (LSE:PVN)VCT GeneralistFebruary20/07/2022London 
Puma Alpha VCTVCT Generalist Pre QualifyingFebruary06/07/2022London 
Triple Point VCT 2011 Venture SharesVCT Generalist Pre QualifyingFebruary14/07/2022London 

Source: AIC - Association of Investment Companies. 

Pascal Dowling is an investment writer for Kepler Trust Intelligence.

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