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Impax Environmental bounces back with 26% annual return as Saba’s board appoints Hudnall to find new manager

Impax Environmental Markets (IEM) has posted a 26.1% annual return, four months after Saba Capital seized control by installing a new board of directors.  Annual results today showed the £172m investment trust beat its stock market benchmark for the first time in three years, outperforming the 12.7% gain in the MSCI AC World index in […]

Today

Ruffer to pay 1% fee on lower of market value or net assets to ensure managers share the discomfort of any discount

Ruffer (RICA) has improved the terms of the 1% annual management charge it pays its fund managers. From January the £844m defensive global portfolio will pay 1% of the company’s market capitalisation or net assets, whichever is lower. “The revised structure creates greater alignment between the company and the investment manager,” said chair Nicholas Pink. […]

Today

Morning briefing: 3i Infrastructure generates £195m cash in first half; Partners Group extends share class vote by two days; Chrysalis buys back 4.1% of shares; SDCL halts currency hedging; STS Global cancels share premium account

3i Infrastructure (3IN) says a “productive” first half pushed cash generation above expectations with total income and non-income cash rising to £195m in the six months to 30 September, up from £122m a year ago and including a £92m distribution from Joulz, the Dutch “energy as a service” provider. This puts 3IN on track to […]

Today

Saba ally Sessa increases stake in Baillie Gifford US Growth to 7.7% as trust’s chair appeals to shareholders to vote

Sessa Capital has lifted its position in Baillie Gifford US Growth (USA) to 7.7%, ramping up the challenge facing the investment trust’s board fighting for re-election at the annual general meeting on 23 October. Sessa, a New York based hedge fund, earlier this month disclosed a 5% position in US Growth. It is thought to […]

29 Sep 2026

Syncona hires ex-NICE chief Dr Sam Roberts to steer its life science start-ups to profitability

Syncona (SYNC) fund manager Chris Hollowood has hired Dr Samantha Roberts, the former chief executive of the National Institute for Health and Care Excellence (NICE), as his number two as the life sciences fund ramps up efforts to return £250m of capital to shareholders. Dr Roberts, who stepped down after four years from NICE in […]

29 Sep 2026

Tufton Assets achieves 81% charter increase on Mia Grace

Tufton Assets (SHIP) has locked in high charter rates on three more of its vessels in a further sign of the strong market conditions that boosted its annual results last week. The investment company, which has a fleet of 21 ships, said the Mia Grace, a chemical and oil products tanker, had been fixed on […]

29 Sep 2026

Morning briefing: The Investment Company starts new era; Aurora UK Alpha hit by Middle East sell-off; NewRiver REIT buys Leeds retail park for new Singapore joint venture

The Investment Company (INV) has reported on its last set of annual results as a UK smaller companies investment trust run by Chelverton Asset Management. In the year to 30 June net asset value fell 7.2% to 73.9p per share with some of the decline reflecting the costs of its corporate restructuring, having appointed Dowgate […]

29 Sep 2026

Vietnam Holding and Vietnam Enterprise continue to trail “extraordinary” rally led by retail darling Vingroup

London-listed Vietnam funds have continued to struggle against the extraordinary market rally led by stocks in the conglomerate Vingroup. Annual results from Vietnam Holding (VNH) show it made an underlying 4.5% investment return in the year to 30 June, underperforming the 32.4% rise in the Vietnam All Share index. Shares in the £62m investment company […]

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