This investment trust invests in stocks from around the world. Its main holdings are in North America.
This is one of my core holdings. MWY has decent downside protection (down about 10% vs 45% for something like SMT over the past year) as well as a record of long-term outperformance. Its premium/discount is relatively stable and the ongoing charge is reasonable at 0.60%.
Lots change coming here. New management and new portfolio managers. I’m thinking very carefully what to do with this
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Likewise. My initial thought was to exit my position given the change. However, I am pleased with the way the board has handled this.
I didn’t have a huge amount of faith in the manager proposed by Artemis, so I’m glad a new group has been brought in which will see fees fall.
For me, it shows that the board is truly independent and acting in investors’ interests.
I’m willing to give it a few years then reassess as I have a lot of faith in the chair, Russell Napier.
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