Interactive Investor

Your vote counts: the investment trust AGMs in May 2024

We reveal the investment trust AGMs taking place this month, and highlight recent continuation votes for Smithson and Greencoat UK Wind.

30th April 2024 09:18

by Kyle Caldwell from interactive investor

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One of the longstanding, but perhaps understated, structural advantages of investment trusts over funds is their independent board of directors. It is the boards job to exercise independent oversight, hold fund managers to account (including the ability to sack them) and look after the interests of shareholders (such as by driving down costs). 

In addition, as a shareholder in an investment trust you have the same voting rights as shareholders in other companies. This gives you the opportunity to have your say and exert influence.

An interesting investment trust issue that crops up from time to time are continuation votes, which give shareholders the option of voting on whether the trust should continue or be wound up. Under the latter scenario, shareholders are paid their share of the company’s assets at or near net asset value (NAV), rather than the current share price.

Two trusts popular among retail investors recently held continuation votes: Smithson Investment Trust (LSE:SSON) and Greencoat UK Wind (LSE:UKW). In both cases, the continuation votes comfortably passed, but some shareholders showed a preference for closure. For Smithson, 90.4% of votes were for the company continuing as an investment trust, while for Greencoat 88.7% of votes were in favour.  

The table below, from Kepler Trust Intelligence, shows the investment trust annual general meetings (AGMs) taking place this in May. In total, there are 42 AGMs, across a range of sectors and asset classes.

TrustAssociation of Investment Companies sectorAGM date
AVI Japan Opportunity (LSE:AJOT)Japanese Smaller Companies01/05/2024
Apax Global Alpha (LSE:APAX)Private Equity01/05/2024
Tritax Big Box (LSE:BBOX)Property - UK Logistics01/05/2024
Witan (LSE:WTAN)Global01/05/2024
F&C Investment Trust (LSE:FCIT)Global02/05/2024
RIT Capital Partners (LSE:RCP)Flexible Investment02/05/2024
Temple Bar (LSE:TMPL)UK Equity Income07/05/2024
Fidelity European Trust (LSE:FEV)Europe08/05/2024
Pershing Square Holdings (LSE:PSH)North America08/05/2024
abrdn Asian Income Fund (LSE:AAIF)Asia Pacific Equity Income08/05/2024
BlackRock World Mining Trust (LSE:BRWM)Commodities & Natural Resources09/05/2024
Schiehallion Fund (LSE:MNTN)Growth Capital10/05/2024
Henderson High Income (LSE:HHI)UK Equity & Bond Income14/05/2024
LMS Capital (LSE:LMS)Private Equity14/05/2024
JPMorgan American (LSE:JAM)North America15/05/2024
Literacy Capital (LSE:BOOK)Private Equity15/05/2024
Merchants Trust (LSE:MRCH)UK Equity Income15/05/2024
Renewables Infrastructure Group (LSE:TRIG)Renewable Energy Infrastructure15/05/2024
Global Opportunities Trust (LSE:GOT)Flexible Investment16/05/2024
HgCapital Trust Ord (LSE:HGT)Private Equity16/05/2024
RTW Biotech Opportunities (LSE:RTW)Biotechnology & Healthcare16/05/2024
Triple Point Social Housing REIT (LSE:SOHO)Property - UK Residential16/05/2024
European Assets (LSE:EAT)European Smaller Companies17/05/2024
GCP Asset Backed Income (LSE:GABI)Debt - Direct Lending20/05/2024
Impax Environmental Markets (LSE:IEM)Environmental20/05/2024
HydrogenOne Capital Growth (LSE:HGEN)Renewable Energy Infrastructure21/05/2024
Impact Healthcare REIT (LSE:IHR)Property - UK Healthcare21/05/2024
M&G Credit Income Investment (LSE:MGCI)Debt - Loans & Bonds21/05/2024
Riverstone Energy (LSE:RSE)Commodities & Natural Resources21/05/2024
US Solar Fund (LSE:USF)Renewable Energy Infrastructure21/05/2024
Fidelity Japan Trust (LSE:FJV)Japan22/05/2024
Riverstone Credit Opportunities Income (LSE:RCOI)Debt - Direct Lending22/05/2024
Schroders Capital Global Innovation Trust Ord (LSE:INOV)Growth Capital22/05/2024
Dunedin Income Growth (LSE:DIG)UK Equity Income23/05/2024
Petershill Partners (LSE:PHLL)Growth Capital23/05/2024
Regional REIT (LSE:RGL)Property - UK Commercial23/05/2024
Life Science REIT (LSE:LABS)Property - UK Commercial25/05/2024
Third Point Investors (LSE:TPOU)Hedge Funds28/05/2024
CT Private Equity Trust (LSE:CTPE)Private Equity29/05/2024
Mercantile (LSE:MRC)UK All Companies29/05/2024
RM Infrastructure Income (LSE:RMII)Debt - Direct Lending30/05/2024
NB Global Monthly Income Fund (LSE:NBMI)Debt - Loans & Bonds31/05/2024

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.

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