Fantasy fund manager: Rosie Murray-West

In the AIC’s first fantasy fund manager competition, we’ve asked six journalists to select four investment trusts that they expect to perform particularly well in 2025, but would be happy to hold for the long term. Below, Rosie Murray-West explains which four trusts she’s selected and why. 
 

Gresham House Energy Storage Fund

Gresham House Energy Storage, or GRID, invests in battery storage projects across the UK and has had a turbulent year, resulting in it trading at a huge 58% discount at time of writing with no dividend being paid.

But the company’s three-year plan, announced at the end of November, suggests that the lights might go back on in 2025. It includes a stated desire to restart paying dividends this year subject to successful refinancing.

Battery Energy Storage Systems such as those owned by GRID are a key part of the government’s clean energy by 2030 plan, and Gresham is well placed to capitalise on these.

There’s risk with Gresham, particularly with refinancing plans in play, but there’s potential reward there too, for those willing to take a chance.

Gresham House Energy Storage Fund profile page
 

Canadian General Investments

This Toronto and UK-listed trust gives you exposure to the expensive US stock market juggernaut and its cheaper Canadian counterpart in one handy trust, with an enormous 41% discount, although it yields a respectable 2.37%.

The fund, which has been around since 1930 and is run by Greg Eckel, is heavily weighted towards IT and industrials, with Magnificent Seven star Nvidia its biggest holding, along with other US businesses such as Apple.

It has 85% of its holdings in Canada, where the future is uncertain, but may be bright, with the IMF predicting it will be the G7’s fastest-growing economy in 2025. Canada goes to the polls this year, with Pierre Poilievre from the Canadian Conservatives expected to be the next Prime Minister. He’s expected to forge a warmer relationship with a Trump administration than was expected under Trudeau.

Canadian General Investments profile page
 

Brown Advisory US Smaller Companies

Trump’s ‘America first’ position is good news for those smaller businesses dotted around North America, which have underperformed their larger counterparts in recent years.

Brown’s US smaller company fund is well-placed to capitalise on the growth potential of US small and medium companies, and the 10% discount is a good entry point. The business is not focused on the tech sector – top holdings include a waste collection business and a childcare company and has been run by manager Christopher Berrier since 2005.

Brown Advisory US Smaller Companies profile page
 

Polar Capital Global Financials Trust

Polar Capital gives you access to US larger companies outside the Magnificent Seven – the big beasts that deal with the nation’s money, from Visa and Mastercard to Warren Buffett’s Berkshire Hathaway.

Just over half of the company’s holdings are in the US, while the fund also holds UK firms including NatWest, as well as India’s ICICI and Italy’s Unicredit. As well as banks and financial services, 23% of the holdings are insurance companies and 7% fixed income.

Seasoned managers Nick Brind, George Barrow and Tom Dorner oversee the fund, and they believe Trump’s win is good news for US banks, which are more modestly priced than tech counterparts and will do well under a lightly regulated US first environment. With a discount of 5.2% and a yield of 2.3%, it is a great way to get exposure to the sector.

Polar Capital Global Financials Trust profile page
 

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