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Your vote counts: investment trust AGMs in September 2022

25th August 2022 10:55

by David Kimberley from Kepler Trust Intelligence

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Kepler Trust Intelligence details the investment trust AGMs taking place next month. 

AGM meeting 600

August tends to be a quiet period for annual general meetings (AGMs), but next month will see a bounce-back as people return to the office, with shareholders starting to make their voices heard again.

Around 40 investment trusts will hold their AGMs in September. As you’d expect from such a large number, those trusts invest in a broad range of asset classes, illustrating the wide variety of opportunities the sector presents to investors.

Some of these have held up well in a volatile 2022. Others have had a tougher time, with the war in Ukraine and inflationary pressures resulting in serious drops in valuations, particularly for growth-oriented stocks that have driven returns for much of the past decade. With that in mind, here are a few of the trusts holding AGMs next month that we think are likely to be of interest to investors.

Hipgnosis Songs (LSE:SONG)has been a firm favourite for investment trust investors since its launch in 2018. The trust invests in the rights to music catalogues and generates income for shareholders through royalties revenues. It has regularly traded at a premium, but inflationary pressures have led to it trading at nearly 12% discount to its net asset value (NAV). The trust has experienced something of a bounce-back over the past month, potentially as a result of investors believing that interest rates may peak lower than previously expected. If that is to happen, it may result in the trust’s shares recovering their premium rating.

Invesco Asia (LSE:IAT) invests – unsurprisingly – in companies across Asia. The trust is also trading at a wide discount of close to 14%. That’s in large part because of the lockdowns in China, which have hurt returns for investors in the region. However, IAT’s managers managed to avoid much of the froth in the Chinese market by selling off positions, which they viewed as overheated, prior to some of the more dramatic market falls last year. They’ve since taken some contrarian positions in Chinese stocks, which they believe are now undervalued.

Miton UK Microcap (LSE:MINI)has had a tough few months, largely because small caps have been hit hard by interest rates rising. However, MINI is an interesting trust because manager Gervais Williams has, in many ways, been predicting the sort of macroeconomic events we are seeing today, having written a book about the need to prepare for them several years ago. That is not a guarantee that he will be able to succeed in the current environment, but it is reassuring to know that the manager behind a given trust has been thinking about these dynamics and investing accordingly.

Trust

Sector

Financial year end

AGM date

Online option?

JLEN Environmental Assets Group (LSE:JLEN)

Renewable Energy Infrastructure

March

01/09/2022

LXI REIT (LSE:LXI)

Property - UK Commercial

March

05/09/2022

Schroder British Opportunities (LSE:SBO)

Growth Capital

March

05/09/2022

Castelnau Group (LSE:CGL)

Flexible Investment

December

06/09/2022

Monks (LSE:MNKS)

Global

April

06/09/2022

abrdn New Dawn (LSE:ABD)

Asia Pacific

April

06/09/2022

Taylor Maritime Investments (LSE:TMI)

Leasing

March

07/09/2022

Atlantis Japan Growth (LSE:AJG)

Japanese Smaller Companies

April

08/09/2022

Chelverton UK Dividend (LSE:SDV)

UK Equity Income

April

08/09/2022

Invesco Asia (LSE:IAT)

Asia Pacific Equity Income

April

08/09/2022

Lindsell Train (LSE:LTI)

Global

March

08/09/2022

Montanaro European Smaller Companies (LSE:MTE)

European Smaller Companies

March

08/09/2022

Polar Capital Technology (LSE:PCT)

Technology & Media

April

08/09/2022

BH Macro (LSE:BHMG)

Hedge Funds

December

09/09/2022

Baillie Gifford UK Growth (LSE:BGUK)

UK All Companies

April

09/09/2022

SVM UK Emerging (LSE:SVM)

UK Smaller Companies

March

09/09/2022

SDCL Energy Efficiency Income (LSE:SEIT)

Renewable Energy Infrastructure

March

12/09/2022

Warehouse REIT (LSE:WHR)

Property - UK Logistics

March

12/09/2022

Rockwood Strategic (LSE:RKW)

UK Smaller Companies

March

13/09/2022

Augmentum Fintech (LSE:AUGM)

Technology & Media

March

14/09/2022

Blue Planet Investment Trust (LSE:BLP)

Global

April

15/09/2022

Civitas Social Housing (LSE:CSH)

Property - UK Residential

March

15/09/2022

Real Estate Credit Investments (LSE:RECI)

Property - Debt

March

15/09/2022

Baillie Gifford US Growth (LSE:USA)

North America

May

16/09/2022

British Smaller Companies VCT (LSE:BSV)

VCT Generalist

March

16/09/2022

Gore Street Energy Storage (LSE:GSF)

Renewable Energy Infrastructure

March

20/09/2022

Hipgnosis Songs (LSE:SONG)

Royalties

March

21/09/2022

India Capital Growth (LSE:IGC)

India

December

21/09/2022

Odyssean Investment Trust (LSE:OIT)

UK Smaller Companies

March

21/09/2022

Schroder Real Estate (LSE:SREI)

Property - UK Commercial

March

21/09/2022

Worsley Investors (LSE:WINV)

UK Smaller Companies

March

22/09/2022

Miton UK Microcap (LSE:MINI)

UK Smaller Companies

April

27/09/2022

Aberdeen New India (LSE:ANII)

India

March

28/09/2022

CT Global Managed Portfolio Growth (LSE:CMPG)

Flexible Investment

May

29/09/2022

CT Global Managed Portfolio Income (LSE:CMPI)

Flexible Investment

May

29/09/2022

MIGO Opportunities (LSE:MIGO)

Flexible Investment

April

29/09/2022

Henderson Smaller Companies (LSE:HSL)

UK Smaller Companies

May

30/09/2022

Online option available

Source: AIC - Association of Investment Companies. 

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.

Related Categories

    Investment TrustsEthical investingJapan

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