INVESTMENT TRUST NEWSLETTER

Published by The McHattie Group

Available by Subscription

FREQUENTLY ASKED QUESTIONS

How long has the newsletter been published?

We started in November 1996, since when we have seen all manner of market conditions, the split-capital crisis, the TMT boom and bust, the rise of alternative asset investment trusts, all kinds of innovations, and some good long-term capital appreciation.

Do you conduct your own research?

Yes, we do. We have the privilege of being able to meet many trust managers face to face, and we also attend industry seminars and conferences.  This first-hand research allows us to develop a deeper understanding of exactly how trusts achieve their returns, and what risks are involved.  We are constantly on the lookout for price anomalies and for value from overlooked trust shares.

Why do you include research notes from stockbrokers?

We recognise that a lot of the research produced by investment trust analysts at major forms of stockbrokers is extremely valuable. The majority of private investors cannot gain access to this research directly, so our monthly round-up enables our subscribers to read this otherwise inaccessible material.

Is the advice unbiased?

It is very important to us that our advice is completely independent. We are regulated by the Financial Conduct Authority and required to offer our best advice. We do not accept any advertising from investment trust companies or their managers.  Our only income from the newsletter is from your annual subscription fees.

How good is your track record?

The newsletter is much more than simple buy or sell advice, so it would be difficult to create a defined track record. Quite often we hope to add value with our background advice, steering you away from some less attractive opportunities, and of course we include all of the brokers' advice as well. It is entirely up to you which parts of the newsletter you decide to act upon.

What we would say is that we have been in business continuously since 1996, and that a very high proportion of our subscribers renew year after year. We know that they find our service invaluable.

How is the newsletter delivered?

You can choose to have the newsletter delivered by post in printed form, or electronically as a PDF. We do have to ask you to make a choice (not both), because the two forms are treated differently for VAT - although they are the same price to you.

Can I ask you to look at a particular trust in which I am interested?

If you look at our Index, you'll see that we cover a very large number of trusts, and hope to cover most interesting situations. We welcome all subscriber feedback though, so if there is a trust you would like us to analyse, please let us know.

Once you have recommended a trust, do you update the advice?

Absolutely. We write about certain trusts very regularly, and always try to revisit those we have recommended so that we can provide updates.

CONTACT DETAILS AND RISK WARNING

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The McHattie Group, St Brandon’s House, 

29 Great George Street, Bristol, BS1 5QT.  Tel: 0117 407 0225.  

email: enquiries@mchattie.co.uk

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Warning: you should not buy shares or warrants with money you cannot afford to lose. This web site is intended for UK investors. Options and other derivatives, warrants, and margined transactions. This warning notice draws your attention to some of the high risks associated with warrants. The risks attaching to instruments and transactions of this kind are usually different from, and can be much greater than, those attached to securities such as shares, loan stock and bonds, such transactions often having the characteristics of speculation as opposed to investment. Warrants may involve a high degree of 'gearing' or 'leverage'. This means that a small movement in the price of the underlying asset may have a disproportionately dramatic effect on your investment. A relatively small adverse movement in the price of the underlying asset can result in the loss of the whole of your original investment. Moreover, because of the limited life of warrants, they may expire worthless. A warrant is a right to subscribe for shares, debentures, loan stock or government securities, usually exercisable against the original issuer of the securities. Because of the high degree of gearing which they may involve, the prices of warrants can be volatile. Accordingly, you should not buy warrants with money you cannot afford to lose. You run an extra risk of losing money when you buy shares in certain smaller companies including ‘penny shares’. There is a big difference between the buying price and the selling price of these shares. If you have to sell them immediately, you may get back much less than you paid for them. The price may change quickly, it may go down as well as up, and you may not get back the full amount invested. It may be difficult to sell or realise the investment. Because of the volatile nature of the investment, a fall in its value could result in your recovering nothing at all. Changes in rates of exchange may have an adverse effect on the value or price of the investment in sterling terms. As with other investments, transactions in warrants, shares, and investment trusts may also have tax consequences and on these you should consult your tax adviser. We have taken all reasonable care to ensure that all statements of fact and opinion contained on this site are fair and accurate in all material respects. Investors should seek appropriate professional advice if any points are unclear. This site is intended to give general advice only, and the investments mentioned are not necessarily suitable for any individual. It is possible that officers of the McHattie Group may have a beneficial holding in any of the securities mentioned. Published by The McHattie Group, St Brandon's House, 29 Great George Street, Bristol, BS1 5QT. Tel: 0117 407 0225. E-mail: enquiries@mchattie.co.uk. All rights reserved. No part of this site may be reproduced, stored in a retrieval system, or transmitted in any form by any means, electronic, mechanical, photographic, or otherwise without the prior permission of the copyright holder. The McHattie Group offers restricted advice on certain investments only. Authorised and regulated by the Financial Conduct Authority.

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Data and privacy policy: for subscribers and all enquiries, we will retain your data for the purpose of sending you our products, or details of our products, and we will retain those details indefinitely in order to offer you renewals, offers from our business, and any other products we think may be of interest to you. We will not sell or otherwise distribute your data to third parties. We take all reasonable precautions to ensure the security of personal data stored on our system, which is only accessible to staff of The McHattie Group. You should contact us if you wish your details to be removed from our database.

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Securitised Derivatives: these instruments may give you a time-limited right to acquire or sell one or more types of instrument which is normally exercisable against someone other than the issuer of that investment. Or they may give you rights under a contract for differences which allow for speculation on fluctuations in the value of the property of any description or an index, such as the FTSE 100 Index. In both cases, the investment or property may be referred to as the “underlying instrument.” These instruments often involve a high degree of gearing or leverage, so that a relatively small movement in the price of the underlying investment results in a much larger movement, favourable or unfavourable, in the price of the instrument. The price of these instruments can therefore be volatile. These instruments have a limited life, and may (unless there is some form of guaranteed return to the amount you are investing in the product) expire worthless if the underlying instrument does not perform as expected. You should only buy this product if you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.You should consider carefully whether or not this product is suitable for you in light of your circumstances and financial position, and if in any doubt please seek professional advice.