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QuotedData’s morning briefing 10 January 2023

a cup of tea, a croissant and some magazines

In QuotedData’s morning briefing 10 January 2023:

  • Ben Durrant has been made deputy portfolio manager of Pacific Horizon (PHI). Ben is an investment manager in Baillie Gifford’s Emerging Markets Equity Team. He joined Baillie Gifford in 2017 having previously worked for RBS in its Group Strategy and Corporate Finance Team. Prior to re-joining the Emerging Markets team in 2021, he spent time in Baillie Gifford’s UK, Global Discovery and Private Companies teams. He was named co portfolio manager on the Baillie Gifford Pacific Fund in June 2021. Ben is a Chartered Accountant and a CFA Charterholder, and graduated with a BSc (Hons) in Mathematics from the University of Edinburgh in 2012.
  • Aurora (ARR) has clawed back 530,311 shares awarded to the manager in relation to the performance fee for the year ended 31 December 2019. These shares have now been cancelled. This has already been factored into the daily NAV calculation so no change to the published NAV arises from this cancellation. The trust’s performance fee is paid by way of shares, which are subject to a fixed three-year clawback period. If the outperformance versus the index reverses on the third-year anniversary, some or all the issued shares will be returned by the manager, and if outperformance fully reverses, the investment manager receives nothing.
  • Glen Suarez has become a non-executive director of BlackRock Throgmorton (THRG) with effect from 9 January 2023. He is currently a non-executive director of Impax Environmental Markets and chairman of the board of Knight Vinke Asset Management, where he had previously held the role of CIO and deputy CEO. He is a senior adviser to FMAP Limited, a consultancy founded by Lord Maude which advises governments on the implementation of public sector reform. He is a Fellow of the Institute of Chartered Accountants in England and Wales and a member of the Royal Society of Arts. Glen was chairman of Edinburgh Investment Trust until July 2022, and a committee member and co-chair of the Capital Markets Advisory Committee, an independent body advising on accounting issues and standards between 2014 and 2020. Before this, he was a partner in Soditic Limited for four years and prior to that he was head of European energy, infrastructure and utilities investment banking business at Morgan Stanley for eight years.

We also have news of progress within one of NextEnergy Solar’s investments, a portfolio acquisition by Impact Healthcare REIT and a trading update from Unite Students.

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