It’s bonus podcast time: welcome to episode four of the AJ Bell investment trust show.

We discuss a range of topics with investment experts and fund managers. Each episode debates some of the most popular trusts with retail investors, the big topics that matter, and a little bit of educational material to get listeners up to speed. This episode focuses on governance, finding bargains and private equity.

One of the differences between traditional funds and investment trusts is the latter have a board of directors. They’re meant to keep a check on what the manager is doing and uphold high levels of corporate governance but that doesn’t always happen. Laith Khalaf talks to James Carthew from research group QuotedData about what the board should really be doing.

We’ve had some requests to look at Ruffer Investment Company so Tom Sieber and Martin Gamble from Shares magazine join us on the podcast to talk about this investment trust and the broader capital preservation space.

Migo Opportunities Trust knows a thing or two about how to find bargains among investment trusts so we invited co-manager Charlotte Cuthbertson to explain what trends and opportunities she’s seeing at the moment.

To round things off, we take a look at the world of private equity because the UK financial regulator has got a bee in its bonnet about a few things in the industry. Joining Dan Coatsworth to talk about what the FCA is reviewing is Alan Gauld from Patria Private Equity Trust.