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Caledonia returns £100m of Stonehage Fleming wealth proceeds to shareholders with 20p special dividend

Caledonia Investments (CLDN), a £1.9bn public and private equity fund, has declared a £100m special dividend to return over a third of the proceeds from last year’s sale of wealth manager Stonehage Fleming to its shareholders. The £290m disposal of what was Caledonia’s largest private equity position will see shareholders get a 20p per share […]

Today

AVI Global: How to find hidden value when markets are starting to wean themselves off an obsession with AI

AVI Global Trust (AGT) has published its annual results so it’s a good time to show this video I recorded last month with the investment trust’s fund manager Joe Bauernfreund and senior investment analyst Ross McGarry. The point of the webinar was to highlight how AGT and its portfolio of overlooked holding and investment companies […]

Today

Morning briefing: 3i Infrastructure grows earnings by 12.3% despite “macroeconomic volatility”; River UK Micro Cap offers 50% exit following Liontrust appointment; Ruffer buys more US equities as AI neoclouds slump; BioPharma Credit lends $50m for CorMedix acquisition

3i Infrastructure (3IN) said “macroeconomic volatility” weighed on a couple of its portfolio companies in the half year to 30 September but overall it continued to be supported by long-term mega trends in energy, transport and digital communications. The £3.8bn portfolio increased half-year earnings by 12.3% and posted a 4.5% investment return, down from 7.4% […]

09 Nov 2026

Trust Spot: October “zig-zag” sees Finsbury Growth jump 12%, its best month with Nick Train, as Nasdaq falls 8% from peak; defensive Polar Capital Global Healthcare rallies

Finsbury Growth & Income (FGT) fund manager Nick Train is hopeful the poorly-performing UK equity income trust has finally passed an “inflection” point after enjoying its best month under his stewardship. The £834m investment trust saw net asset value (NAV) jump 12.6% in October with the shares returning 11.8%, well ahead of the 1.1% rise […]

09 Nov 2026

REIT Review: Property shares rebound as activists circle

UK-listed property shares recovered some of their recent losses in October, with the average share price rising 1.8% after a difficult September. The recovery was relatively broad, with 32 of the 50 companies in our dataset recording gains and a median return of 1.1%. The improvement was particularly noticeable among some of the larger property […]

09 Nov 2026
09 Nov 2026

Morning briefing: RTW Biotech pledges another £32m into buybacks; Custodian Property Income buys £11m portfolio from Lincoln syndicate; AEW UK REIT sells Barnstaple Retail Park

RTW Biotech Opportunities (RTW), the £559m drug developer backer where activist Saba Capital doubled its stake to 10% last month, has expanded its capital allocation framework with a further $42.8m (£31.9m) for share buybacks. Having returned $42.3m of the $45m buyback target announced three years ago, and purchased 7.2m shares this year, the company says […]

06 Nov 2026

Man Group brings trend-following ETF to London as AI shares tumble

Man Group has launched its first two UCITS ETFs in Europe, including a strategy designed to combine global equity market exposure with protection against sustained market downturns. The launch comes at a particularly interesting time, with technology shares suffering a sharp sell-off amid renewed concerns about the outlook for artificial intelligence (AI) investment. The Man […]

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