264: Money Makers Investment Trusts Podcast - with Hugh Gimber (19 Mar 2025)

In this edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the 2024 AIC Best Broadcast Journalist Award, is joined by Hugh Gimber, executive director and global market strategist at J.P.Morgan in London. This discussion was recorded on Monday 17 March 2025. *** Out now: The 2025 Investment Trusts Handbook *** The Investment Trusts Handbook is an independent educational publication designed to provide investors with a handy annual reference book that summarises all you need to know about investment trusts. Now in its eighth year, the Handbook is a high-quality, full-colour hardback of more than 340 pages, the largest yet, with reviews of the past year, extensive interviews and commentary, plus nearly 80 pages of “how to” information and performance data. Available to order from Harriman House (https://harriman-house.com/ithb2025) or Amazon. There is also a free e-book version you can read on a PC, tablet or smartphone, plus an audiobook version. Jonathan will be signing copies of the Handbook at the Master Investor show in London on March 29th. The Handbook is now also available as an audiobook edition on YouTube - https://www.youtube.com/watch?v=CEsprtnFA9I *** Section Timestamps: 0:00:24 - Introduction 0:00:41 - A look at the uncertainty facing investors 0:06:29 - The impact of a ceasefire or peace deal in Ukraine 0:08:47 - The risk of a recession in the US 0:11:44 - The bond market and interest rates 0:13:43 - Growth and inflation expectations for Europe and the UK 0:15:54 - A short break 0:16:50 - The “Trump Put” 0:20:46 - The continuing US dominance of the global equity market 0:24:13 - A time for a small-cap emergence? 0:26:01 - The choice to hide in cash 0:31:49 - Risks and uncertainties 0:34:30 - Close If you enjoy the weekly podcast, you may also find value in joining The Money Makers Circle. This is a membership scheme that offers listeners to the podcast an opportunity, in return for a modest monthly or annual subscription, to receive additional premium content, including interviews, performance data, links to third party research, market/portfolio reviews and regular comments from the editor. A subscription costs £12 a month or £120 for one year. This week, as well as the usual features, the Circle features a profile of Bluefield Solar Income (BSIF). Future profiles include Baillie Gifford US Growth (USA) and Invesco Global Equity Income (IGET). Our new expanded weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. The content of that email is also available for subscribers via the website. For more information about the Money Makers circle, please visit money-makers.co/membership-join. Membership helps to cover the cost of producing the weekly investment trust podcast, which will continue to be free for the foreseeable future. We are very grateful for your continued support and the enthusiastic response to our more than 260 podcasts since launch. You can find more information, including relevant disclosures, at www.money-makers.co. Please note that this podcast is provided for educational purposes only and nothing you hear should be considered as investment advice. Our podcasts are also available on the Association of Investment Companies website, www.theaic.co.uk. Produced by Ben Gamblin.