In this episode, our director of content, investment trusts Milosz Papst discusses Edison’s latest thematic piece on US Small Cap equities. He then explores Baker Steel Resources Trust whose bottom-up, value-focused strategy is to invest in a concentrated portfolio of 10–20 unlisted junior mining companies. BSRT’s objective is to create value through driving the development of investee companies, as well as exploiting market inefficiencies and pricing anomalies. He discusses how the trust mitigates the risks arising from investments in early-stage mining businesses. He elaborates on the implications of the portfolio maturity for distributions to shareholders. He also delves into the developments at the trust’s two largest holdings.***********************************************************About ‘Uncovering Trusts’'Uncovering Trusts': is a podcast run by Edison analysts released every two weeks. Subscribe to hear analyst interviews on how investment trusts maximise returns while managing risks for investors.About Edison:Edison is a content-led IR business. We believe quality investment content should inform all investors, not just brokers. Our mission: engage and build bigger, better-informed investor audiences for our clients.Edison covers 50+ investment trusts, read about them here: https://www.edisongroup.com/equities/investment-companies/

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