Kepler Trust Intelligence

SEQI has delivered a NAV total return of 8.4% for the year ending 31/03/2026, net of all fees and costs, above the 7%-8% targeted gross annual return. The portfolio valuation was modestly positive, net of forex and hedge movements., Dividends for the year totalled 6.875p, paid in four equal quarterly instalments. This equates to a historic yield of 8.3% on the share price at the time of writing.

The forthcoming, star-studded Avengers: Doomsday movie, which will follow on from the Endgame film, is reportedly set to see three different universes from the Marvel stable collide. The plot is, of course, being guarded, but it looks set to pitch the heroes against villains, featuring Doctor Doom, who first hit our screens in the 2012 version of The Fantastic Four.

Join Jo Groves, David Brenchley and Ryan Lightfoot-Aminoff from Kepler Trust Intelligence for a roundup of all the news that matters to investment trust investors in May, brought to you in association with Schroders. Before covering the news, David provides a quick update on space stories from last month, including the outcome of Seraphim Space's (SSIT) C-share raise, and the impact of the impending SpaceX IPO on the results of Scottish Mortgage (SMT).

In this episode of Trust Issues, we speak to Matt Ridley, partners at Schroders Greencoat and co-manager of Greencoat UK Wind (UKW). Matt explains what UKW invests in, how it invests and how it manages its wind farm assets, and outlines some of the supportive tailwinds for the wind industry - including artificial intelligence. He also discusses the pushback we've seen from some quarters on the route to net zero, as well as how UKW hopes to get back to making new investments.

In this episode of Trusts in Focus, we're looking at Golden Prospect Precious Metals (GPM), the only investment trust exclusively focused on precious metals miners. We explore the trust's specialist approach to investing across gold, silver and platinum group metals, including its focus on smaller and mid-sized mining companies, the role of active management and how gearing has contributed to long-term outperformance versus passive alternatives.

Our holiday in May took us up from Puglia in the very south of Italy to Emilia-Romagna, the birthplace of such luminary car brands as Ferrari, Lamborghini and Maserati. In fact, we did a day trip to Modena, although with us being more foodies than petrolheads, we went for the balsamic vinegar rather than the Ferrari museum.

Schroder AsiaPacific (SDP) has released its half-year results for the period ending 31/03/2026, delivering a NAV total return of 3.7% and a share price total return of 4.8%. The trust’s benchmark, the MSCI AC Asia ex Japan Index, returned 5.2%. The period was marked by volatility, with the war in Iran coming in the final month, undoing some of the strong gains achieved earlier in the period. Despite this, the region outperformed global equities over the six months, which rose c.

You may ask what the point of having a cake is if you don’t eat it. But having a cake means enjoying the prospect of eating it in the future, so if you can do that and eat the cake too, you effectively have two cakes. Or perhaps you have one cake with the power of two cakes? Either way, it is better than scoffing a cake down and contemplating a sad and hungry future, or wistfully eyeing up the last cake on the shelf like a labrador. So it is with risk in investment.

Video Abby Glennie, Co-Manager of Aberdeen UK Smaller Companies Growth Trust (AUSC), discusses why UK smaller companies may offer attractive opportunities despite ongoing economic uncertainty. She explains why smaller companies have lagged larger businesses in recent years, highlights areas of the market where the trust sees resilient earnings growth, and outlines the portfolio's exposure to infrastructure, hard assets and internationally diversified businesses.

Diversification is, as I’m sure we all know by now, the only free lunch in investing. It’s unclear exactly how many courses come with that free lunch, but I suspect it’s only the main. Personally, when I’m out for lunch (or dinner, for that matter), which I often am, I’ll plump for the three-course menu. So, how do we look at portfolio construction in the context of a three-course meal? In my view, the starter is sitting down and setting your investment objectives.