Sectors

Investing in structured finance

Debt – Structured Finance

JPMorgan Global manager Helge Skibeli to retire in Feb 2028

Helge Skibeli, lead manager of JPMorgan Global Growth & Income (JGGI), JP Morgan’s £3.3bn investment trust flagship, has announced he will retire in 18 months’ time. Skibeli, who is credited with reviving the 149-year-old closed-end fund when he took over seven years ago, will leave JP Morgan Asset Management (JPMAM) in February 2028 after 40 […]

CT Global Managed to up dividends and increase gearing after new managers’ successful switch to Asia

CT Global Managed Portfolio Trust plans to switch to monthly dividends next year and make more use of gearing, or borrowing, as part of changes to make the one-stop investment trust shop more attractive for shareholders. The changes, which include improvements to how the trust measures its performance, came in annual results showing a good […]

Morning briefing: Work on new battery projects lifts GRID valuation by 14.6%; Scottish Oriental Smaller consults shareholders after failing five-year performance test; VH Global Energy sells six Brazilian solar assets

Gresham House Energy Storage (GRID) grew net asset value by 14.6% in the second quarter, boosting the battery fund as its board resists pressure from activist shareholders to wind up on account of its longstanding discount, with the shares last night closing 26% below the new NAV. This gap narrowed again this morning as the […]

Seraphim unveils New Space index for its ETF to track

Seraphim New Space UCITS ETF is launched in Europe today, listing on the London Stock Exchange under a dollar share class of SPCE and a sterling share class of SERA. The SERA ticker will also be used on the Borsa Italiana in Milan, while on Zurich’s Xetra it will trade as S3RA. At the heart of […]

Onward Opps rallies 20% in August as its AIM stocks shine

A 20% share price rally last month has tipped Onward Opportunities (ONWD) above £50m of assets for the first time since launch over three yeas ago. The UK smaller companies investment company, which came to market with less than £20m in March 2023, said a string of positive company results had helped propel the portfolio […]

Seraphim to launch The New Space ETF tomorrow

Seraphim Space, the manager of Seraphim Space (SSIT) investment trust, will launch an exchange-traded fund tomorrow offering investors access to both public and private space technology companies. The index-tracking Seraphim New Space ETF will, according to The Times, have exposure to the “new cohort of recently listed New Space companies [which] are disrupting incumbent and […]

VH Global Energy Infrastructure kick starts its wind-down with £99m sale of Texas oil terminals

VH Global Energy Infrastructure (ENRG) has made the first disposal in its three-year wind-down, selling two oil storage facilities on the coast of Texas for $134m (£99m) to its fund manager Victory Hill. The £298m investment trust said the sale agreement of the facilities at the Port of Brownsville on the Texas Gulf coast was […]

Morning briefing: New City High Yield exits Aston Martin after debt refinancing; Glenstone lifts AIRE bid acceptances to 36%; Shaires completes Anthropic and Stripe investments

New City High Yield Fund (NCYF) fund manager Ian “Franco” Francis said he and co-manager Darren Toner sold Aston Martin’s 10.375% 2029 bond after a controversial £550m debt financing in July by BlackRock’s private credit subsidiary HPS Investment Partners altered the debt’s asset backing. The Financial Times reported last month that bond holders were considering […]

Canada’s US problem – time for investors to think differently?

For UK investors, Canada has traditionally occupied a slightly awkward position. It is one of the world’s largest developed economies, home to major banks, miners and energy companies, yet it rarely receives much attention as a standalone allocation. More often, Canada is folded into a broader “North American” portfolio dominated by the United States. However, […]

CT Private Equity forecasts more uplifts to come as mature portfolio spies “meaningful pipeline” of exits

Tom Burnet, the new chair of CT Private Equity (CTPE), has predicted the £346m investment trust will see more profitable exits like the 71% uplift it made taking £17.9m on its stake in Cyberhawk when the US drone-based inspection group was snapped up for $125m in June. Burnet, who succeeded Richard Gray at the helm […]

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Debt – Structured Finance