In QuotedData’s morning briefing 5 October 2022:
- Brunner (BUT) has announced that Julian Bishop will be joining the AllianzGI team managing the trust’s portfolio on 1 November 2022 as a senior portfolio manager with a view to becoming co-lead manager alongside Christian Schneider in due course. Julian has 25 years investment experience as a global equity analyst and portfolio manager, most recently as a senior global equity portfolio manager with Tesco Pension Investment and before that with Sarasin and Partners.
- NB Private Equity Partners (NBPE) has announced that it has entered into a new share buyback agreement with Jefferies International Limited, which will allow Jefferies at its discretion, and based on criteria set by the board, to repurchase NBPE Class A Shares on behalf of NBPE. The decision to repurchase shares will be based on multiple factors, including the absolute level of discount, NBPE’s discount compared with a peer group as well as broader equity market movements, among other factors. The board believes that, under the criteria it has set, any share buybacks will be an attractive use of NBPE’s capital in the current market environment. Share buybacks will also be immediately accretive to the NAV of remaining shareholders.
- Gulf Investment Fund (GIF) has announced that the tender price, for its previously announced tender offer (click here to read more) has been set at US$1.9498 per share. Just 178,064 shares were tendered and these will now be cancelled with payments expected to be made around 14 October 2022. We recently published a note on GIF, which you can read by clicking here.
We also have:
- Hipgnosis Songs Fund’s interest rate swap agreements
- The merger of HgCapital Trust holdings – Ideagen and ProcessMAP
- Annual results from Ruffer (“another excellent year!”)
- Annual results from The European Smaller Companies Trust (a disappointing performance)