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QD view – CQS New City High Yield – inflation premium

New City High Yield delivers double-digit NAV return and maintains dividend growth

CQS New City High Yield Fund (NCYF) delivered a NAV total return of 10.2% for the year to 30 June 2026, while its share price returned 10.1%. NAV per share edged up to 48.55p from 48.37p, while the shares ended the period at 51.80p, leaving the trust trading at a 6.7% premium. That premium allowed […]

Today

Syncona’s Beacon Therapeutics delivers positive pivotal trial result

Syncona (SYNC) has announced a major clinical milestone at portfolio company Beacon Therapeutics after its gene therapy, laru-zova, delivered a positive topline result in the pivotal Phase II/III VISTA trial for X-linked retinitis pigmentosa (XLRP). The trial met its FDA-endorsed primary endpoint, with laru-zova demonstrating a statistically significant improvement in low luminance visual acuity compared […]

Today

Morning briefing: North Atlantic Smaller Companies sees discount narrow as buybacks and takeovers support returns

North Atlantic Smaller Companies Investment Trust (NAS) reported a 7.7% increase in NAV over the six months to 31 July 2026, while the share price rose by 18.1% as the discount narrowed materially. NAV per share increased from 555.4p at the end of January to 598.1p, while adjusted NAV (which reflects Oryx International Growth Fund […]

18 Sep 2026

Infrastructure Capital launches active S&P 500 income ETF

Infrastructure Capital Advisors has launched an actively managed ETF combining US equities with an options strategy designed to generate monthly income while also seeking capital growth. The Infrastructure Capital S&P 500 Option Income UCITS ETF, launched with HANetf, begins trading on the London Stock Exchange today, 18 September. The Ireland-domiciled fund has a total expense […]

18 Sep 2026

Is AI coming for the City?

AI has already disrupted software, could the asset management sector be next? Would you let artificial intelligence manage your life savings? I tuned into the Polar Capital Global Technology team’s webinar yesterday; it was a fascinating watch as usual. As you can see below, the Polar Capital Technology Trust (PCT) retains its top spot over […]

18 Sep 2026

European active ETFs break annual inflows record with four months to spare

European active ETFs attracted $33.9bn of net inflows in the eight months to 31 August 2026, surpassing the previous full-year record of $33.4bn set in 2025. Fidelity International’s September ETF flows review, based on etfbook data, shows inflows were almost 80% higher than the $19.1bn recorded over the same period last year. The milestone comes […]

18 Sep 2026

Aberdeen UK Smaller seeks out merger with JPMorgan UK Small Cap after difficult five years for trust and sector

Aberdeen UK Smaller Companies Growth (AUSC), once a leading trust in its sector, has sought out a merger with rival JPMorgan UK Small Cap Growth and Income (JUGI) after a five-year downturn that shrank the company and made it less attractive to investors. Liz Airey, chair of AUSC, said her board had chosen to combine […]

18 Sep 2026

Alliance Witan – Stock Spotlight: Galderma

Interview with Danielle Menichella from Sands Galderma is a specialist skin health company operating across aesthetics, skincare and therapeutic dermatology. Danielle from Sands sees strong growth potential, driven by rising consumer interest in skin health, younger customers entering the market earlier and increasing uptake among men, while highlighting the company’s trusted brands, loyal professional customer […]

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