Your vote counts: the investment trust AGMs in July 2022
6th July 2022 09:29
Popular investment trusts with AGMs coming up include Personal Assets, Edinburgh, and JPMorgan Multi-Asset Growth & Income.
July looks set to be another busy month for investment trust investors with 39 AGMs planned before the end of the month.
Trusts from a broad range of sectors will be taking the stand including infrastructure funds, various venture capital vehicles, smaller companies trusts, and equity income trusts including the veteran Edinburgh Investment (LSE:EDIN)Â Trust.
Six members of the AIC Flexible Investment sector are due to hold their AGMs this month, which should be of interest to those seeking an alternative to straight equities at this difficult time for markets.
Among them is Personal Assets (LSE:PNL), one of the best known capital protection-focused investment trusts in the business with a strong long-term track record of positive returns. PNL will be seeking approval on 14 July for a proposed 100 for 1 share split which, if the resolution is passed, will make the trust’s shares (currently trading at around £500 per share) much more accessible for ordinary investors, particularly monthly savers.
PNL will hold its AGM in person in Edinburgh for the first time since before the pandemic struck, but will also allow shareholders to view a recording of the investment manager’s presentation online via the company website afterwards.
A number of trusts (see table) are allowing shareholders to take part in their AGMs this month via virtual means and some – including Edinburgh Investment Trust and Momentum Multi-Asset Value Trust (LSE:MAVT) will even be allowing live virtual participation with voting by proxy encouraged. Shareholders who prefer to join the boards in person are invited to do so in Edinburgh on 21 July for EDIN and London on 26 July for MAVT.
JPMorgan Multi-Asset Growth & Income (LSE:MATE)Â and JPMorgan European Discovery (LSE:JEDT) will also be allowing virtual participation in their London AGMs (8 July and 18 July) and the managers will give a presentation to shareholders for each trust, reviewing the past year and commenting on the outlook for the current year. Again, voting online will not be possible and shareholders are encouraged to register in advance to vote by proxy.
| Trust | Sector | Financial year end | Next AGM | Location | Online option? |
| Worldwide Healthcare (LSE:WWH) | Biotechnology & Healthcare | March | 06/07/2022 | London | |
| Biotech Growth (LSE:BIOG) | Biotechnology & Healthcare | March | 19/07/2022 | London | |
| Fidelity China Special Situations (LSE:FCSS) | China / Greater China | March | 20/07/2022 | London | |
| Vietnam Enterprise (LSE:VEIL) | Country Specialist | December | 14/07/2022 | Hong Kong | |
| Weiss Korea Opportunity (LSE:WKOF) | Country Specialist | December | 22/07/2022 | Guernsey | |
| Axiom European Financial Debt (LSE:AXI) | Debt - Loans & Bonds | December | 25/07/2022 | Guernsey | |
| JPMorgan European Growth & Income (LSE:JEGI) | Europe | March | 07/07/2022 | London | |
| JPMorgan European Discovery (LSE:JEDT) | European Smaller Companies | March | 18/07/2022 | London | Yes |
| JPMorgan Multi-Asset Growth & Income (LSE:MATE) | Flexible Investment | February | 08/07/2022 | London | Yes |
| Capital Gearing (LSE:CGT) | Flexible Investment | March | 12/07/2022 | London | |
| Personal Assets (LSE:PNL) | Flexible Investment | April | 14/07/2022 | Edinburgh | |
| Momentum Multi-Asset Value Trust (LSE:MAVT) | Flexible Investment | April | 26/07/2022 | London | |
| Caledonia (LSE:CLDN) | Flexible Investment | March | 27/07/2022 | London | |
| Templeton Emerging Mkts (LSE:TEM) | Global Emerging Markets | March | 14/07/2022 | London | |
| Global Smaller Companies Trust (LSE:GSCT) | Global Smaller Companies | April | 28/07/2022 | London | |
| 3i Infrastructure (LSE:3IN) | Infrastructure | March | 07/07/2022 | London | |
| HICL Infrastructure (LSE:HICL) | Infrastructure | March | 20/07/2022 | London | |
| abrdn Japan (LSE:AJIT) | Japan | March | 01/07/2022 | London | |
| JPMorgan Japan Small Cap Growth & Income (LSE:JSGI) | Japanese Smaller Companies | March | 27/07/2022 | London | |
| DP Aircraft I (LSE:DPA) | Leasing | December | 29/07/2022 | Guernsey | |
| HarbourVest Global Private Equity (LSE:HVPE) | Private Equity | January | 20/07/2022 | Guernsey | Yes |
| Value and Indexed Property Income (LSE:VIP) | Property - UK Commercial | March | 08/07/2022 | Edinburgh | |
| Shires Income (LSE:SHRS) | UK Equity Income | March | 06/07/2022 | London | |
| CT UK High Income (LSE:CHI) | UK Equity Income | March | 20/07/2022 | London | |
| Edinburgh Investment (LSE:EDIN) | UK Equity Income | March | 21/07/2022 | Edinburgh | Yes |
| Downing Strategic Micro-Cap (LSE:DSM) | UK Smaller Companies | February | 11/07/2022 | London | |
| Montanaro UK Smaller Companies (LSE:MTU) | UK Smaller Companies | March | 27/07/2022 | London | |
| Octopus AIM VCT (LSE:OOA) | VCT AIM Quoted | February | 21/07/2022 | London | |
| Maven Income & Growth VCT (LSE:MIG1) | VCT Generalist | February | 07/07/2022 | London | |
| Octopus Apollo VCT (LSE:OAP3) | VCT Generalist | January | 07/07/2022 | London | |
| Puma VCT 13 (LSE:PU13) | VCT Generalist | February | 07/07/2022 | London | |
| Triple Point VCT 2011 A shares | VCT Generalist | February | 14/07/2022 | London | |
| Triple Point VCT 2011 B (LSE:TPOB) | VCT Generalist | February | 14/07/2022 | London | |
| ProVen Growth and Income VCT (LSE:PGOO) | VCT Generalist | February | 20/07/2022 | London | |
| ProVen VCT (LSE:PVN) | VCT Generalist | February | 20/07/2022 | London | |
| Puma Alpha VCT | VCT Generalist Pre Qualifying | February | 06/07/2022 | London | |
| Triple Point VCT 2011 Venture Shares | VCT Generalist Pre Qualifying | February | 14/07/2022 | London |
Source: AIC - Association of Investment Companies.Â
Pascal Dowling is an investment writer for Kepler Trust Intelligence.
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