Trustnet Magazine Issue 46 December 2018 | Page 2

Issue 46 / December 2018 FE Trustnet magazine A DAMP SQUIB 2018 in review THE “EASY” PART Reviewing your options at retirement PICK AND MIX Experts’ investment trust selections FASTEN YOUR SEAT BELTS Your guide to every sector in 2019 Fund, Pension, Trust / Sector Profile / Stockpicker / What I Bought Last ISSUE 46 CREDITS FE TRUSTNET MAGAZINE (FORMERLY INVESTAZINE) IS PUBLISHED BY THE TEAM BEHIND FE TRUSTNET IN SOHO, LONDON Editor’s letter Y ou may remember FE Trustnet Magazine’s first issue of 2018 – if only for the cover feature titled “keep on running”, which focused on how everyone was in agreement the bull run would gather momentum and markets would end the year higher than when they started. You know what happened next. In any case, Holly Black looks back at 2018 in this month’s cover feature to find out what went wrong, while 13 CONTACTS: Javier Otero Art direction & design W: www.feedingcrows.co.uk Editorial Gary Jackson Editor (FE Trustnet) T: 0207 534 7680 Rob Langston News editor T: 0207 534 7696 Mai Sardon Reporter T: 0207 534 7625 Sales Richard Fletcher Head of publishing sales T: 0207 534 7662 Richard Casemore Account manager T: 0207 534 7669 Constance Candler Account manager T: 0207 534 7668 Photos supplied by iStock Cover illustration: Javier Otero In our regular columns, John Blowers examines your options at the point of retirement, Downing’s Judith MacKenzie names three stocks that should benefit from the value style’s resurgence and Shore Financial Planning’s Ben Yearsley reveals which fund he is using to protect his portfolio if the US bull run comes to an end. Have a great Christmas and new year. Impax Environmental Markets find themselves under the spotlight this month THE “EASY” PART WHAT I BOUGHT LAST Contents WEBSITE: www.trustnet.com EMAIL: editorial@financialex- press.net Anthony Luzio Editor T: 0207 534 7652 Cherry Reynard takes a more specific look at the investment trust universe. Adam Lewis and I go the other way, as I ask the experts for their investment trust recommendations and he runs the rule over every major sector for the year ahead. A DAMP SQUIB Holly Black looks back at 2018 in FE Trustnet Magazine’s traditional end-of-year review P. 2-7 THE BRIGHT SIDE OF JAPAN’S LABOUR CRUNCH Baillie Gifford Shin Nippon’s Praveen Kumar tells Joji Sakurai that Japan’s staff shortages have sparked creativity and investment opportunities P. 8-11 PICK AND MIX Anthony Luzio asks the experts for their investment trust recommendations for the year ahead P. 13-16 ALTERNATIVE TIMES CALL FOR ALTERNATIVE SOLUTIONS James de Bunsen and Peter Webster reveal how they are positioning the Henderson Alternative Strategies Trust for the latter stages of the business cycle P. 28-33 John Blowers weighs up your options at the point of retirement FASTEN YOUR SEAT BELTS BACK IN PLAY Adam Lewis sums up the outlook for every regional investment trust sector in 2019 P. 34-39 IN NUMBERS P. 42-47 Anthony Luzio Editor Shore Financial Planning’s Ben Yearsley says Artemis US Extended Alpha should offer some protection if the US bull run comes to an end P. 50-51 Downing Strategic Micro-Cap Growth’s Judith MacKenzie picks three stocks that should benefit from the value style’s resurgence P. 48-49 Crunching the biggest trends down into figures P. 40-41 P. 18-21 GETTING THE MESSAGE THROUGH A growing number of people are coming around to the advantages of investment trusts, writes Cherry Reynard P. 23-27 FUND, PENSION, TRUST Schroder MM Diversity, Fidelity Global Dividend and 18 34