Brunner (BUT) has a new co-lead manager at Allianz Global Investors with James Ashworth promoted to work alongside Julian Bishop who has run the global portfolio with Christian Schneider, chief investment officer for global growth at AGI, for three years. Schneider will continue to support the team as a deputy manager alongside Merchants (MRCH) manager Simon Gergel. Schneider said: “I am pleased to promote James as he has earned the recognition for his excellent work on the Brunner portfolio since he joined the team in 2023.” Chair Carolan Dobson said: “We are delighted to see James’s contribution to the management of the Brunner portfolio receiving deserved recognition through this promotion and thank Christian for his continuing role in the team.”

Franklin Global Trust (FGRT) co-manager Zehrid Osmani has stepped down ahead of the investment trust’s proposed merger with Invesco Global Equity Income (IGET) in February. Jonathan Regan steps up to become co-manager alongside Franklin Equity Group chief investment officer Jonathan Curtis.

Vietnam Enterprise (VEIL), the £1.2bn emerging market fund on a 13% discount that saw 41% of shareholder votes in favour of discontinuation at the annual general meeting in June, has announced an unconditional tender offer for up to 10% of shares closing. The offer will close on 31 December. Shareholders will get two more opportunities to sell in two further 10% tenders in the next 12 months. The company has bought back 12.5% of its shares this year and has offered a further tender offer in 2030 if returns underperform over the previous five years.

Aquila European Renewables (AERI), the £121 infrastructure fund in wind-down, is to return €33.9m in January through a the issuance and immediate cancellation of “B”-shares. This follows the €69.1m sale of its Danish and Greek wind assets.