Programme for Tuesday 28th February 2023, 2pm – 5pm

2.00 pm Reg Hoare presents an overview of his Investment Trusts portfolio evolution over 2022 and prospects for 2023
2.40 pm Company presentation by JPMorgan Claverhouse Investment Trust
3.20 pm Company presentation by Duke Royalty
4.00 pm Company presentation by Polar Capital Global Financials Trust
4.40 pm
Jonathan Davis from the Money Makers discusses current opportunities in the Investment Trust world with Karin Schulte

Karin Schulte, Investment Trusts and Funds specialist

Karin Schulte will be your host for this event.  She has worked in global logistics, investment banking and private equity in Asia for a total of 25 years based in Hong Kong, Singapore and Australia. Karin is currently based in the UK and actively invests in listed and unlisted companies. Karin has extensive experience also in the not-for-profit sector both in the UK and internationally. Karin has a portfolio of roles and has a particular interest in the next generation of leaders.

Reg Hoare presents an overview of his Investment Trusts portfolio evolution over 2022 and prospects for 2023

Reg has extensive experience investing in Investment Trusts and Funds.  He has gained over 30 years City experience, initially gained with 11 years in investment banking and securities, principally at SG Warburg and Nomura. He switched to financial PR in 1995, and specialises in advising mid market companies, from FTSE 250 to AIM 100 across a number of sectors, and has a long track record of advising in complex situations including IPOs, fund raisings, M&A, crises and restructurings. He also served for 8 years as a Board member of the Investor Relations Society, Europe’s leading body for investor relations practitioners.

William Meadon presents JPMorgan Claverhouse Investment Trust plc

Claverhouse is a diversified, typically  geared, portfolio of our best UK stock ideas. We aim to deliver steady outperformance of the FTSE All-Share Index over the medium term, without taking undue risks. We also aim to maintain the Company’s enviable dividend track record. Claverhouse Investment Trust Limited was launched in 1963 with assets of £5 million and managed by Robert Fleming & Co. The Company took its name from a 17th century nobleman, Viscount Claverhouse (‘Bonnie Dundee’). The name was chosen to commemorate the Flemings’ Dundee roots. The Company adopted its present name of JPMorgan Claverhouse Investment Trust plc in 2007. JPMorgan Asset Management’s investment professionals are well resourced and follow a distinct, disciplined methodology. They employ an active, bottom-up, team-based approach, which focuses on the value, quality, and momentum style characteristics of UK stocks. Claverhouse has an outstanding record of dividend growth. It is one of just 19 investment trust ‘dividend heroes’ – trusts that have increased their dividend every year for at least the past 20 years. Claverhouse’s record of 50 consecutive years of dividend growth is the longest of any quoted investment trust invested solely in UK equities.

William Meadon, Portfolio Manager

William Meadon, Managing Director, is a portfolio manager within the J.P. Morgan Asset Management International Equity Group, based in London. An employee since 1996, William was previously Head of UK Specialist Pension Funds at Newton Investment Management Ltd, responsible for pension funds and the Newton Higher Income Fund. William obtained a BA (Hons) in Economics from the University of Nottingham and is a qualified Chartered Accountant.

George Barrow presents Polar Capital Global Financials Trust 

Polar Capital is a specialist, investment-led, active fund manager who strive to be investment leaders. We provide a highly entrepreneurial environment for outstanding portfolio managers within a structure that offers a level of operational, administrative and marketing support normally found in much larger organisations.

The company prides itself on its collegiate and meritocratic culture where capacity of investment strategies is managed to enhance and protect performance. Since its inception in 2001, Polar Capital has grown steadily and currently has 14 autonomous investment teams managing specialist, active and capacity constrained portfolios, with combined AuM of £18.5 billion (as at 31 December 2022).

Polar Capital Global Financials Trust (PCFT)
Polar Capital Global Financials Trust (PCFT) is the only UK investment trust focused solely on the world of financials, one of the largest sectors globally. The highly specialised investment team actively scours the globe to find the best investment opportunities, investing in both developed regions, such as the US, as well as emerging economies and Asia. The Trust has a dual focus on dividend and capital growth, while its relatively low exposure to UK companies means that it could be a complementary holding to existing UK financial stocks.

George joined Polar Capital in September 2010 as an analyst on the Financials Team. He is a co-manager on the Polar Capital Financial Opportunities Fund, with John Yakas, and the Polar Capital Global Financials Trust, with John and Nick Brind. He has over 10 years’ experience analysing Europe, Asia and emerging markets. Prior to joining Polar Capital, he was an analyst at HIM Capital from 2008 where he completed his IMC.

George Barrow, Fund Manager

Company presentation – Duke Royalty plc

Duke Royalty is the leading corporate royalty finance provider in the UK and Europe, a finance solution widely used in America. The Company’s management team consists of royalty finance pioneers and specialists with over 75 years of direct royalty investing experience.

Listed on the London Stock Exchange, Duke Royalty (AIM:DUKE) is a long-term, flexible capital partner to established and profitable SMEs in the UK, North America and continental Europe. Duke Royalty provides shareholders with a high yielding quarterly dividend.

This is achieved due to the robust, predictable and long-term cash flows delivered from its diverse portfolio of mature, profitable SMEs. It provides partners with a lump sum of capital in return for a percentage of revenue on a term of 30+ years. Royalty finance (or revenue-based financing) is akin to a ‘corporate mortgage’ and the model, first popularised in North America, is proven to withstand economic cycles and offers SMEs an alternative, flexible form of financing. Unlike other lending options, Duke’s royalty finance model empowers business owners to realise their long-term business goals without compromising owner control or adding debt re-financing risk to the business.

The pandemic has forced a significant number of SMEs to take on unsustainable levels of debt and with banks tightening their lending criteria, there is heightened demand for alternative forms of finance.

Neil Johnson is Duke Royalty’s Chief Executive Officer with responsibility for the overall strategic direction and performance of the company. Working closely with the other Board members and the Investment Committee, he leads all deal origination, due diligence and structuring.

Mr. Johnson has approximately 30 years of experience in investment banking, merchant banking, and research analysis in both the Canadian and UK capital markets. In 2012 he co-founded and became Chief Executive Officer of Difference Capital Financial, a Canadian publicly listed merchant bank. For the previous 19 years he worked for Canaccord Genuity, first in Canada and later at Canaccord London rising to the positions of Head of Corporate Finance (Europe), Global Head of Technology, and a member of the Global Executive Committee.

Jonathan Davis from the Money Makers discusses current opportunities in the Investment Trust world with Karin Schulte

Karin Schulte    
Private Investment Trusts and Funds investor
Jonathan Davis
 Presenter of the Money Makers