Money Makers

312: Money Makers Investment Trusts Podcast - End of Year Special (27 Dec 2025)

Money Makers

Show Notes

In this special, end of year edition of the Money Makers Investment Trusts Podcast, Jonathan Davis, editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award (2024 and 2025), is joined by four guests for their comments on the year just gone and the outlook for 2026. Those guests are Ben Conway, James Carthew, Anthony Leatham, and Max King

These discussions were recorded between 12-18 December 2025.

*** OUT NOW: The 2026 Investment Trusts Handbook *** Available to order from Harriman House: https://harriman-house.com/authors/jonathan-davis/the-investment-trusts-handbook-2026/9781804094358

The Investment Trusts Handbook 2026 is the ninth edition of the highly regarded annual handbook for anyone interested in investment trusts – often referred to as the City’s best-kept secret, or the connoisseur’s choice among investment funds. It is expertly edited by well-known author and professional investor Jonathan Davis, founder and editor of the Money Makers newsletter and podcast. The Investment Trusts Handbook 2026 is an independent educational publication, available through bookshops and extensively online. With articles by 30 different authors, including analysts, fund managers and investment writers, plus more than 80 pages of detailed data and analysis, the latest edition is an indispensable companion for anyone looking to invest in the investment trust sector. ***

Section Timestamps: 0:00:24 - Looking back at 2025 0:04:37 - Investment Trusts Handbook 2026 0:05:32 - Ben Conway 0:13:49 - James Carthew 0:23:58 - A short break 0:25:04 - Anthony Leatham 0:36:31 - Max King 0:47:18 - Close

If you enjoy the weekly podcast, why not also try 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. Our weekly subscriber email includes a comprehensive summary of all the latest news plus the week's biggest share price, NAV and discount movements. Subscribe and you will never miss any important developments from the sector.

For more information please visit https://money-makers.co/circle.

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 310 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 - www.bgprofessional.co.uk

More from Money Makers

Oct 17, 2026

This week on The Money Makers Podcast, award-winning host Jonathan Davis (editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award, now for three years running) is joined by Craig Baker, chairman of the Investment Committee at Alliance Witan (ALW), and Richard Sennitt, manager of Schroder Oriental Income (SOI).

Oct 10, 2026

This week on The Money Makers Podcast, award-winning host Jonathan Davis (editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award, now for three years running) is joined by the co-managers of Fidelity Emerging Markets (FEML), Nick Price and Chris Tennant, in a discussion including the fund's 99% recovery, short-selling strategies, and AI plus commodity outlooks.

Oct 3, 2026

As Saba Capital takes aim once again at Baillie Gifford US Growth (ticker: USA), chairman Tom Burnet and co-manager Kirsty Gibson are this week's guests on the Money Makers Investment Trusts Podcast with Jonathan Davis (editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award, now for three years running), where they discuss Saba's requisition at the upcoming AGM and the importance of shareholder participation in the vote, as well as the trust's performance and portfolio holdings.

Sep 26, 2026

Peter Hewitt, former fund manager, director at the AIC, and director at Odyssean, joins Jonathan Davis (editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award 2024 and 2025) in this edition of the Money Makers Investment Trusts podcast, in a discussion including emerging markets, smaller companies, and renewables and infrastructure trusts.

Sep 23, 2026

In this edition of the Money Makers podcast, Jonathan Davis (editor of the Investment Trusts Handbook and winner of the AIC Best Broadcast Journalist Award 2024 and 2025) is joined by Richard Staveley, manager of Rockwood Strategic (RKW), in a discussion including the performance and investment approach of the Trust and its focus on UK small cap opportunities; market trends including the state of the small cap market; and recent portfolio moves including new positions in UK housing.

See all episodes →