MoneyWeek’s investment trust portfolio – should we keep the Law Debenture trust?

The MoneyWeek’s investment trust portfolio has been performing well. But one trust – Law Debenture – has performed particularly poorly. Merryn Somerset Webb asks if we should hang on to it.

© Getty Images/Cultura RF
Financial portfolio online © Getty Images/Cultura RF
(Image credit: © Getty Images/Cultura RF)

Thank goodness for the Scottish Mortgage Investment Trust. I’m a natural value investor – as is John. We have both long been worried about the valuations in the growth and tech orientated trust (while simultaneously loving the effect of those valuations on our SIPPs). But we are also both well aware that the trust’s managers have a stunning record of stock picking and performance. So we have long hedged our value investing bets by holding Scottish Mortgage too.

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Merryn Somerset Webb

Merryn Somerset Webb started her career in Tokyo at public broadcaster NHK before becoming a Japanese equity broker at what was then Warburgs. She went on to work at SBC and UBS without moving from her desk in Kamiyacho (it was the age of mergers).

After five years in Japan she returned to work in the UK at Paribas. This soon became BNP Paribas. Again, no desk move was required. On leaving the City, Merryn helped The Week magazine with its City pages before becoming the launch editor of MoneyWeek in 2000 and taking on columns first in the Sunday Times and then in 2009 in the Financial Times

Twenty years on, MoneyWeek is the best-selling financial magazine in the UK. Merryn was its Editor in Chief until 2022. She is now a senior columnist at Bloomberg and host of the Merryn Talks Money podcast -  but still writes for Moneyweek monthly. 

Merryn is also is a non executive director of two investment trusts – BlackRock Throgmorton, and the Murray Income Investment Trust.