Trust Audio Update

A Value View Episode 8: Celebrating 130 years

Simon Gergel CIO, UK Equities

11/04/2019

In his latest podcast, Simon Gergel, Portfolio Manager of The Merchants Trust, talks about the 130th anniversary of the Trust.

Simon reflects on how it all began in 1889, the Trust’s aims to provide an investment solution for individual investors then and now and how the Merchants of yesterday differs to the vehicle it is today. The Trust has lived through many major political and economic events over its lifetime and Simon looks back at this remarkable history and how this has shaped the Trust, which has diversified and adapted over time. Simon has been at the helm of Merchants for 13 years – a tenth of the Trust’s life – and talks about his own experiences as manager, particularly the importance of steady nerves and a focus on long-term fundamentals when managing Merchants through the financial crisis of 2008-9.

You can also access the podcast via:

iTunes (for iOS devices): https://itunes.apple.com/gb/podcast/a-value-view/

Blubrry (for iOS & Android): https://www.blubrry.com/avalueview/

Trust Audio Update

A Value View Episode 8: Celebrating 130 years

Simon reflects on how it all began in 1889, the Trust’s aims to provide an investment solution for individual investors then and now and how the Merchants of yesterday differs to the vehicle it is today.

Fund Focus on Merchants

In this Sunday Times article, journalist Holly Black looks at The Merchants Trust, summarising its investment remit, performance and dividend yield. The piece also quotes Simon Gergel on the merits of investing in the UK amidst current market uncertainty.

The Sunday Times 31.03.2019

Celebrating 130 years and looking to the future

The Merchants Trust is celebrating its 130th birthday in 2019. In this article, Simon Gergel looks back at how the Merchants portfolio has changed over time and how reaching 130 provides a sense of perspective. He also reviews his own experience at the helm of Merchants since 2006.

Alliance Trust Savings 26.03.2019

Trust Audio Update

A Value View Episode 7: Happy New Year and Happy Birthday

In his first podcast of 2019, Simon Gergel, Portfolio Manager of The Merchants Trust, shares his insights on the latest developments affecting the UK stock market. Not only are we at the start of a new year but also a landmark anniversary year for Merchants.

Edison Research: The Merchants Trust – high and growing dividend yield

Refinancing of a large tranche of the Trust’s high-cost debt in January 2018, coupled with higher levels of portfolio income, means the board has increased confidence in growing the dividend at a faster rate, from a starting yield of more than 5%.

Edison Research 26.11.2018

Trust Audio Update

A Value View Episode 6: Challenges and Opportunities

Listen in as Simon emphasises that market volatility, as witnessed in October, can give rise to opportunity. He notes that that any divergence in the share prices of different sectors and even different companies could enable investors to take advantage of potentially compelling valuations.

Trust Audio Update

A Value View Episode 5: Looking Forward, Looking Back

Simon takes a look back at the first half of the year, a fascinating period that’s been characterised by global political challenges. Simon also considers market prospects for the rest of 2018 and the factors that may have an impact.

Trust Audio Update

A Value View Episode 4: Of Trust(s) and Transparency

In the latest podcast, Simon is joined by Mary Ann Sieghart, one of Merchants’ Non-executive Directors, who joined the board in November 2014. Together, Mary Ann and Simon explore the importance of transparency in communication.

Still finding winners in the UK

Although uncertainty prevails, Corporate appetite for ‘UK PLC’ backs up Simon Gergel's view the UK stock market is one of the cheapest markets in the developed world right now. There are stock opportunities out there and Simon's focus remains on strong franchises with distinct business models.

Alliance Trust Savings 28.06.2018

Warming to investment trusts

150 years since the first investment trust was launched, Adam Gent (AllianzGI’s Head of Retail/Wholesale Northern Europe) looks at how these closed-ended funds have adapted to investors’ needs over time.

Money Week 15.06.2018

Edison Research: Merchants Trust Review - May 2018

Edison Research's review of Merchants Trust, dated May 2018.

Edison Research 23.05.2018

Trust Audio Update

Bull vs. Bear: GlaxoSmithKline

GlaxoSmithKline (GSK) is a company which divides opinion and in this Investors Chronicle Bull vs Bear episode, Simon Gergel from the Merchants Trust argues the bull case against the ICs pharma specialist (and GSK sceptic), Megan Boxall.

Trust Audio Update

A Value View Episode 3: Respect the Investment Environment

Simon throws a light on Environmental, Social and Governance (ESG) issues and what it all means for investors. He explains why sustainability and the ethical impact of investing rank high amongst the broad range of criteria that investors and fund managers consider these days.

Edition 3: A Value View

In the third of his Sunday Telegraph columns, Simon Gergel looks at the current economic landscape in the UK and explains why he’s not ready to write off the UK’s long-term economic prospects just yet.

Investment Trust Spring Update

Welcome to the latest Investment Trust Update from Allianz Global Investors. In this issue, we are pleased to share with you; what’s new, ISAs – the clock is ticking, inflation busting Investment Trusts, Awards, the rise of platform investing ( and how to choose), and in the news.

Allianz Global Investors 05.04.2018

Trust Audio Update

A Value View Episode 2: The Health of the UK PLC

Are London listed equities as UK focused as we think? Why should investors choose the UK? Where we are with interest rates in the UK, and if a rate rise goes ahead how it would affect the outlook of the UK.

Leading lights for investment growth

The Merchants Trust PLC received press coverage in The Mail on Sunday on 25 March 2018. The Trust was profiled in the popular ‘Midas’ column, following a meeting Simon Gergel had with Joanne Hart.

Edition 2: A Value View

In this edition Simon looks at how the landscape for income seekers has changed since the trust began and explains why we believe equities can provide an income when other options fail.

A Value View

Simon Gergel gives his views to the Sunday Telegraph on M&A activity in the UK market and where he is finding value.

Trust Audio Update

Bull vs Bear: BP

For the third episode in Investors Chronicle Bull vs Bear series, Simon Gergel kicks the investment tyres of oil and gas giant BP, one of the biggest dividend payers in the FTSE 100. In the bulls' corner is Simon Gergel, and facing him is natural resources writer (and host) Alex Newman.

Trust Audio Update

A Value View, Episode 1: Brexit and the UK economy

Welcome to “A Value View”, the first in an exciting series of topical podcasts from The Merchants Trust. Each month Simon Gergel, fund manager of The Merchants Trust, will offer his thoughts on developments affecting the UK market, and what they mean for investors.

Alliance Trust Savings: Looking back in time in order to invest for the future

Simon Gergel reviews 2017 and casts his mind back much further, to 1987, when The Merchants Trust took out a loan that is shortly to be refinanced. Simon considers how market movements and recent trends compare with those of 30 years ago, when the Bank of England base rate stood at 8.375%.

Alliance Trust Savings 18.12.2017

Investment Trust Forum

On Tuesday 14th November Simon Gergel participated in Allianz Global Investors “Navigating the Future” Investment Trust Conference.

Allianz Global Investors 14.11.2017

© Allianz Global Investors GmbH 2019, Registered Office: Frankfurt am Main, Register: HRB 9340, Local court: Frankfurt am Main. All Rights Reserved. The Merchants Trust PLC is incorporated in England and Wales. (Company registration no. 28276). Registered Office: 199 Bishopsgate, London, EC2M 3TY. The Company is a member of the Association of Investment Companies - Category: UK Equity Income.