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Scottish Oriental Smaller Companies cancels tender offer and pursues merger as part of a strategic review

Scottish Oriental Smaller Companies (SST) has scrapped plans for a 25% tender offer and launched a strategic review that could see it merge with a rival. Following consultation with some of its largest shareholders, the biggest of which is discount hunter City of London Investment Management with a 17% stake, the £315m Asia small-cap trust […]

Today

Lindsell Train looks to the future after nearly a third of shares seek an exit in the 20% tender offer

Lindsell Train (LTI) believes its shareholders have demonstrated “continued confidence” in the investment trust after a 20% tender offer was over-subscribed with 32.5% of shares put up for sale. Nearly 6.5m shares were validly tendered in the offer announced last month and approved by shareholders last Thursday, giving them the chance to sell shares at […]

Today

Proxy vote advisers Glass Lewis, ISS and PIRC back Baillie Gifford US Growth in its AGM battle with Saba

Baillie Gifford US Growth (USA) has received a significant boost in its AGM battle with Saba Capital after the three leading, independent proxy vote advisers supported its position in the crucial vote. The £1bn investment trust said Glass Lewis, ISS and PIRC, which institutional investors use to advise them on company votes, had all recommended […]

Today

Morning briefing: Literacy Capital sells Cubo Work; Artemis UK Future Leaders bounces back in Q2; Tom Leader retires from Caledonia Private Capital

Literacy Capital (BOOK) has sold its minority stake in Cubo Work back to the majority shareholder of the office and co-working space provider. Financial terms have not been disclosed but Richard Pindar, chief executive of BOOK’s fund manager, said the outcome was a bit better than its warning at the start of this month that […]

12 Oct 2026

Achilles reveals more of its targets as it prepares for “next round of activism” to reinvest proceeds from Spire Health bid

Achilles (AIC), the investment company activist launched by Robert Naylor and Chris Mills after their salvaging of shareholder returns at Hipgnosis Songs two years ago, is preparing for a second round of campaigns to revive its share price and invest a cash pile that stood at nearly £17m in June. The company’s maiden annual report […]

12 Oct 2026

Saba reveals new 5% position in Neuberger Private Equity, doubles RTW Biotech holding to 10%

Saba Capital has disclosed a new 5% stake in Neuberger Private Equity Partners (NBPE), increasing pressure on the £560m investment company to narrow its 28% share price discount. The filing to the London Stock Exchange on Friday is the first time the activist hedge fund has formally stated its position, although its £38.7m Saba Capital […]

12 Oct 2026

Morning briefing: Gore Street Energy signs two-year tolling agreement on Texas assets; Seraphim Space invests £17.5m in Skylo Technologies; Patria Private Equity returns 2.6% in quiet third quarter for exits

Gore Street Energy Storage Fund (GSF), the £247m battery fund that last month survived a wind-down vote proposed by activist Saba Capital, has announced a two-year tolling agreement on its three Texas projects with Canada’s MAG Energy Solutions (MAG). From 19 October, MAG will manage the bidding, scheduling and dispatch of GFS’ Snyder, Sweetwater, and […]

09 Oct 2026

Opportunities emerging in AI’s shadow

As government bond yields have been rising, investors have re-embraced the comfort blanket of AI stocks. However, there is an increasing sense that a lot is resting on the success of AI adoption – and that may not be a slam-dunk. There are a number of global fund managers actively seeking out alternative sources of […]

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