AIC 2023 Showcase

31st Oct '23 by ShoeShineBoy

9 comments 645 reads

I attended the annual Showcase event a week back on Friday (20^th Oct) in Hammersmith, West London. Ticket was free as I get regular email updates from the AIC. There were 3 large rooms where various investment trust managers presented and took questions (see link for details by room). There were also numerous stands with various managers on hand to discuss (and it has to be said, sell) their trusts. https://tinyurl.com/52bftcdd

I attended the below discussions, I took notes as I listened. Very enjoyable day, sitting & listening to well informed trust managers whilst scoffing my sandwiches and drinking a flask of tea. Better than going to work!

Before I write out my notes, it's worth bearing 2 things in mind.... 1.) the current market is a difficult one for trust managers to turn up and answer questions, I guess many investors are flagging and wondering when this awful market will start to get better and 2.) at some points during the conference, I did wonder how many of the managers are analysts who understand their holdings in detail versus those managers who are more sales focused; maybe a bit unkind of me but it keeps stop loss at the front of my mind.

I have included links to the trusts whose managers I listened to. They are HL rather than AIC links because the charts are better. It will give you an indication of how good (or bad) the performance of these managers has been. Many of the managers have been in place for a number of years. The AIC site has much more detail than the HL site if you want to dig further.

Anyway, the following is what I attended, apologies in advance for any spelling mistakes or vagueness. A link to the video recordings is at the bottom of this post if you prefer.

Big on Japan - Nicholas Weindling of JP Morgan Japan (JFJ)

JFJ: https://tinyurl.com/3csxxdtw

# I wonder if the powerpoint is available on the JP Morgan site ? I recall it was good in listing out the pros and cons.

# Based in Tokyo. Apparently not all Japanese trust/fund managers are based in the country (SSB: staggering really but there you go). The JP Morgan team is 25 strong.
# NW observation: London is expensive! Nothing specific, just a general observation.
# Japan is just not as…

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jonno

31st Oct '23

What a great post, comprehensive and informative. Thank you for your efforts. It must have taken an age to write. I hold a small portfolio of investment trusts that are held outside of my ISA. I therefore tend to avoid those that have high yields.

I didn't realise that the AIC annual event was open to 'Joe Public'. How does one obtain/request a ticket. Does one register on the AIC website? I shall definitely put it on my calendar for next year.

greyster

1st Nov '23

Thank you SSB, a really helpful and informative post. I think i will spend the next day or so working through the links etc. I feel ITs are a great way to boost performance as discounts will unwind in due course. I have been waiting to buy into SCP and started a small position in SMT but remain wary of private company valuations. Thanks again for taking time to post all your thoughts and links.

tony akram

Fantastic information thank you !

rhomboid1

Brilliant write up…many thanks SSB

Redice

2nd Nov '23

If you are interested all sessions from the day are available 'on demand' from the AIC website

https://www.theaic.co.uk/the-i...

ShoeShineBoy

5th Nov '23

Hi jonno,

thanks for the feedback from you and others. My interest in investment trusts is simply that I can spread risk across different asset classes and geographies and also buy £1 of assets for 70 pence. I try to keep it as simple as possible and only buy on discounts.

In terms of the AIC, check out the web site, especially the screener (home page >>> research tools) and also the different pages available providing detailed information on each trust. https://www.theaic.co.uk/

You can also sign up for the monthly "Compass" newsletter and investment trust stats ie: corporate actions to be sent straight to your email inbox once a month. See the bottom of the page on the following link. I am guessing that this is how I got included on the email distribution list for the Showcase event in Hammersmith a couple of weeks back. https://www.theaic.co.uk/about-us

In terms of RNS emails, I use the Stockopedia service. Lots of daily NAVs but also corporate actions and statutory reporting.

Hope this is helpful.
SSB

KevinS1

Great write-up SSB - well done & thanks.

Northender

7th Nov '23

Many thanks SSB, only just found this via SCVR today. I wish we could follow certain posters, you certainly being one, on here and be alerted when they post something new.

BrusselsLad

8th Nov '23

Great write up SSB and many thanks for posting it. I have also found this page thanks to the exchange on SCVR which I read every day. It really highlights the need for a better search function (or for me to have a better understanding of how to use what exists!).

Some time ago, there was a UK version of the Motley Fool which was really excellent for discussion threads. It is not easy as moderation is important but expensive. Nevertheless, it would be great if Stockopedia could improve this area of their site. Even I might be encouraged to post more often!

AIC 2023 Showcase

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ShoeShineBoy

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