Your vote counts: investment trust AGMs in January 2025

While January ushers in just four annual general meetings (AGMs) in the investment trust calendar, two UK equity income stalwarts and two Asia-Pacific funds are kicking off proceedings for the new year.

Whether you’re a seasoned or novice investor, AGMs can provide important insights into performance and strategy, as well as enabling investors to vote on key issues such as executive pay and share buybacks.

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We take a closer look at three of the upcoming AGMs.

Finsbury Growth & Income Trust

The largest trust in the Association of Investment Companies (AIC) UK Equity Income sector is managed by industry veteran Nick Train. Finsbury Growth & Income Ord (LSE:FGT) has a dual income and capital growth mandate, aiming to outperform the FTSE All-Share index with a concentrated portfolio of around 20 holdings.

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As a result, company-specific factors have proved a headwind for the high-conviction portfolio in recent years. Strong returns from companies such as Burberry Group (LSE:BRBY), Diageo (LSE:DGE) and Unilever (LSE:ULVR) resulted in a significant overweight to consumer brands, which proved “too high in hindsight”, according to the manager.

Shareholders will cast their votes on 16 ordinary and special resolutions at the AGM, including the re-election of five directors and the authority to repurchase up to 15% of the trust’s shares.

The trust’s discount widened to -9% in its recent financial year, with the board having bought back 18% of the shares in issue during the last financial year.

Lowland Investment

Another UK Equity Income trust, Lowland Ord (LSE:LWI) from the Janus Henderson stable, will hold its AGM on the same day. Managers James Henderson and Laura Foll hold a diversified portfolio of 100-plus companies across the market cap spectrum, split roughly equally between FTSE 100 and small and mid-cap companies.

Shareholders will be asked to vote on 15 resolutions, with five director re-elections, authority for share buybacks and directors’ remuneration among the votes due to take place.

• Watch our Lowland video here: opportunities and risks for UK stock market in 2025
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Schroder AsiaPacific Fund

Next on the slate is Schroder AsiaPacific Ord (LSE:SDP) fund. Managers Richard Sennitt and Abbas Barkhordar employ a bottom-up approach to harnessing the secular demographic and economic growth drivers in a region well-suited to an active strategy due to its diversity.

The trust’s longstanding underweight to China has proved beneficial to returns, although the managers have recently added to some attractively valued Chinese positions. Elsewhere, the trust remains overweight Taiwan, Hong Kong, and Singapore, reflecting confidence in their competitive positioning.

Shareholders will have the opportunity to vote on 14 resolutions, from the re-election of five directors to the authority to buy back shares at this year’s AGM.