Your vote counts: the investment trust AGMs in October 2023

As we head into autumn, another month of investment trust annual general meetings (AGMs) lies ahead.

October tends to be quieter than the post-summer holidays spike we see in September, with only nine investment trusts holding their AGMs next month.

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However, the most notable corporate action taking place next month is a continuation vote for Hipgnosis Songs Ord (LSE:SONG), the music royalties fund. Investors will be asked to support plans aimed at turning around its performance or winding down the company. A date has not yet been announced for the AGM, but it is expected to take place next month.

AGMs are a good opportunity to hear from the people managing your investments and, given that interactive investor has shareholder voting options for AGMs in its app, also provide you with the opportunity to make your voice heard as a shareholder.

Below is a run through of three of the AGMs taking place next month.   

Henderson Smaller Companies Investment Trust

As the same suggests, Henderson Smaller Companies (LSE:HSL) Investment Trust invests in UK small-caps, an area of the market that’s attracted some attention over the past few months given the comparatively attractive valuations in the market.

HSL shareholders will have a few things to vote on at next month’s AGM, most notably the approval of a new board member and approvals to manage the trust’s discount via share buybacks and issuance.

Perhaps most importantly for shareholders is the vote on approving a final dividend for the year.

The trust is one of interactive investor's Super 60 investment ideas.

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Invesco Select Trust

Invesco Select Trust is one of the more unique investment trusts trading on the London Stock Exchange today, as it is comprised of four share classes. Each class gives investors exposure to a different portfolio and investors can switch between them without realising a capital gain.

The key votes for the trust next month will be on reappointing its board, but also approving dividends for two of the trust’s share classes.

Mid Wynd

The global equities trust has been in the headlines over the past few months, with the board deciding to switch management of the trust from Artemis to asset management group Lazard.

The key vote for shareholders next month will be on the ability for Mid Wynd International Investment Trust (LSE:MWY)’s board to buy back shares to manage the trust’s discount.