Interactive Investor

Your vote counts: the investment trust AGMs in May 2022

A number of popular trusts have AGMs coming up including F&C Investment Trust, Smithson and BlackRock World Mining.

Almost 50 investment companies will be holding their annual general meetings (AGMs) in May, reflecting the broad set of opportunities closed-ended funds offer to individual investors.

UK smaller companies, private equity, and digital infrastructure are just a few of the sectors that trusts holding AGMs next month invest in.

Those meetings also come at an interesting time for markets. The ongoing war in Ukraine, fears of high inflation, and extreme lockdowns across China are combining to make life very hard for lots of fund managers. Others have fared better by limiting their losses or even seeing gains, particularly if they invest in commodities.

This year also marks a return to in-person meetings for some investment trusts. Most were forced to hold virtual AGMs for the first time during the pandemic. Some returned to ‘normal’ in-person events in 2021, a trend that has continued this year. In fact, only a small number of trusts will be offering online access in May – including Witan (LSE:WTAN), Fidelity European Trust (LSE:FEV), JPMorgan American (LSE:JAM) and US Solar Fund (LSE:USF).

AGMs aren’t always the most exciting of affairs but several trusts holding them next month are likely to be of interest to investors.

One is BlackRock Latin American (LSE:BRLA). The trust has had a wild couple of years, having performed poorly during the pandemic, only to see an impressive bounce back in the first quarter of 2022. Indeed, it was the best-performing investment trust in the market during that period. BRLA will be voting on a tender offer to buy back 24.99% of its free float, after its discount control policy was triggered in 2021.

Another BlackRock managed trust, BlackRock World Mining Trust (LSE:BRWM), will also be holding its AGM in May. Like BlackRock Latin American, the trust has benefited from a surge in commodities prices, driven by a mix of supply chain problems, the war in Ukraine, and inflation. BlackRock World Mining Trust will be voting to approve a final dividend of 27.00p per share for 2021. If approved this will be the largest dividend payout the trust has ever made.

Also of note is AVI Japan Opportunity (LSE:AJOT). This is a unique trust in that it runs a highly concentrated portfolio and also invests heavily in companies that it then tries to increase the value of via shareholder activism. The trust will be voting on approving a discount control policy next month, something shareholders will be grateful it hasn’t had to use excessively since launching in 2018.

And finally, Schroder UK Public Private Trust (LSE:SUPP) is asking shareholders to approve a change to its investment policy to invest in global businesses. The trust, formerly known as Woodford Patient Capital, invests in early-stage UK businesses. 

Investment companyAIC* sectorAGM date
AVI Japan Opportunity (LSE:AJOT)Japanese Smaller Companies03/05/2022
F&C Investment Trust (LSE:FCIT)Global03/05/2022
Smithson Investment Trust (LSE:SSON)Global Smaller Companies03/05/2022
Tritax Big Box (LSE:BBOX)Property - UK Logistics04/05/2022
Apax Global Alpha (LSE:APAX)Private Equity05/05/2022
Pershing Square Holdings (LSE:PSH)North America05/05/2022
ScotGems (LSE:SGEM)Global Emerging Markets05/05/2022
Witan (LSE:WTAN)Global05/05/2022
abrdn Smaller Companies Income (LSE:ASCI)UK Smaller Companies05/05/2022
BlackRock World Mining Trust (LSE:BRWM)Commodities & Natural Resources06/05/2022
Albion Development VCT (LSE:AADV)VCT Generalist10/05/2022
Fidelity European Trust (LSE:FEV)Europe10/05/2022
HgCapital Trust (LSE:HGT)Private Equity10/05/2022
Temple Bar (LSE:TMPL)UK Equity Income10/05/2022
Impact Healthcare REIT (LSE:IHR)Property - UK Healthcare11/05/2022
Maven Income and Growth VCT 4VCT Generalist11/05/2022
Schroder Asian Total Return Investment Company (LSE:ATR)Asia Pacific11/05/2022
abrdn Asian Income Fund (LSE:AAIF)Asia Pacific Equity Income11/05/2022
Baillie Gifford Shin Nippon (LSE:BGS)Japanese Smaller Companies12/05/2022
European Assets (LSE:EAT)European Smaller Companies17/05/2022
Fidelity Japan Trust (LSE:FJV)Japan17/05/2022
GCP Asset Backed Income (LSE:GABI)Debt - Direct Lending17/05/2022
Mercantile (LSE:MRC)UK All Companies17/05/2022
Mobeus Income & Growth 4 VCT (LSE:MIG4)VCT Generalist17/05/2022
Schroder UK Public Private Trust (LSE:SUPP)Growth Capital18/05/2022
Impax Environmental Markets (LSE:IEM)Environmental18/05/2022
JPMorgan American (LSE:JAM)North America18/05/2022
Merchants Trust (LSE:MRCH)UK Equity Income18/05/2022
Riverstone Credit Opportunities Income (LSE:RCOI)Debt - Direct Lending18/05/2022
BlackRock Latin American (LSE:BRLA)Latin America19/05/2022
Mobius Investment Trust (LSE:MMIT)Global Emerging Markets19/05/2022
Digital 9 Infrastructure Ord (LSE:DGI9)Infrastructure23/05/2022
Dunedin Income Growth (LSE:DIG)UK Equity Income24/05/2022
Henderson High Income (LSE:HHI)UK Equity & Bond Income24/05/2022
HydrogenOne Capital Growth (LSE:HGEN)Renewable Energy Infrastructure24/05/2022
Petershill Partners (LSE:PHLL)Growth Capital24/05/2022
Riverstone Energy (LSE:RSE)Commodities & Natural Resources24/05/2022
US Solar Fund (LSE:USF)Renewable Energy Infrastructure24/05/2022
Fundsmith Emerging Equities Trust (LSE:FEET)Global Emerging Markets25/05/2022
International Public Partnerships (LSE:INPP)Infrastructure25/05/2022
Regional REIT (LSE:RGL)Property - UK Commercial25/05/2022
BMO Private Equity Trust (LSE:BPET)Private Equity26/05/2022
Mobeus Income & Growth VCT (LSE:MIX)VCT Generalist26/05/2022
Renewables Infrastructure Group (LSE:TRIG)Renewable Energy Infrastructure27/05/2022
Triple Point Social Housing REIT (LSE:SOHO)Property - UK Residential27/05/2022

Source: AIC - Association of Investment Companies. 

David Kimberley is an investment writer for Kepler Trust Intelligence.

These articles are provided for information purposes only.  Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties.  The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.