Sectors

A Venture Capitalist Trust (VCT) is a tax-efficient investment company listed on a recognised UK stock exchange with a focus on investing in start-up companies (less than 7 years old and fewer than 250 full-time employees).

VCTs

Infrastructure Capital launches active S&P 500 income ETF

Infrastructure Capital Advisors has launched an actively managed ETF combining US equities with an options strategy designed to generate monthly income while also seeking capital growth. The Infrastructure Capital S&P 500 Option Income UCITS ETF, launched with HANetf, begins trading on the London Stock Exchange today, 18 September. The Ireland-domiciled fund has a total expense […]

Is AI coming for the City?

AI has already disrupted software, could the asset management sector be next? Would you let artificial intelligence manage your life savings? I tuned into the Polar Capital Global Technology team’s webinar yesterday; it was a fascinating watch as usual. As you can see below, the Polar Capital Technology Trust (PCT) retains its top spot over […]

European active ETFs break annual inflows record with four months to spare

European active ETFs attracted $33.9bn of net inflows in the eight months to 31 August 2026, surpassing the previous full-year record of $33.4bn set in 2025. Fidelity International’s September ETF flows review, based on etfbook data, shows inflows were almost 80% higher than the $19.1bn recorded over the same period last year. The milestone comes […]

Aberdeen UK Smaller seeks out merger with JPMorgan UK Small Cap after difficult five years for trust and sector

Aberdeen UK Smaller Companies Growth (AUSC), once a leading trust in its sector, has sought out a merger with rival JPMorgan UK Small Cap Growth and Income (JUGI) after a five-year downturn that shrank the company and made it less attractive to investors. Liz Airey, chair of AUSC, said her board had chosen to combine […]

Alliance Witan – Stock Spotlight: Galderma

Interview with Danielle Menichella from Sands Galderma is a specialist skin health company operating across aesthetics, skincare and therapeutic dermatology. Danielle from Sands sees strong growth potential, driven by rising consumer interest in skin health, younger customers entering the market earlier and increasing uptake among men, while highlighting the company’s trusted brands, loyal professional customer […]

Morning briefing: Zipline doubles to boost Scottish Mortgage and US Growth; Foresight Environmental wins third continuation vote; M&G Credit Income launches share issue; two big bids lift Merchants Trust; North American Income keeps pace with US market

Scottish Mortgage (SMT) and Baillie Gifford US Growth (USA) have registered a 120% uplift in their holdings in Zipline, the US drone delivery company that, as we reported yesterday, is in the midst of a $1bn fund raise that will more than double its valuation to $20bn from $7.6bn at its last funding round just […]

AVI Japan Opportunity spies more rainmaking deals after Sharingtechnology bid ends long dry spell for the activist

AVI Japan Opportunity (AJOT), the £400m smaller companies activist, has celebrated the end of a 17-month “drought” in corporate actions with a tender offer for its biggest holding perking up the investment trust’s shares after a challenging first half. Last week MBK Partners, an Asian private equity firm, launched a tender offer for Sharingtechnology with […]

Baillie Gifford Shin Nippon starts much-needed turnaround with 23% first half rally from AI boom

Baillie Gifford Shin Nippon (BGS) has achieved its best performance in years with the Japanese smaller companies trust generating a 22.9% underlying investment return in the six months to 31 July. While shareholders had to make do with a 19.8% total return in the half-year period as the share price gap, or discount, to net […]

Mid Wynd “deeply regrets” its 26% underperformance but says AI-sell-off presents “compelling” investment opportunity

Mid Wynd International (MYI) is standing by its Lazards fund managers after the £205m global growth investment trust was hammered in the sell-off of “AI losers” and underperformed its stock market benchmark by nearly 26% in the year to 30 June. Annual results showed the company made a total investment return of just 2% compared […]

Baillie Gifford US Growth says Saba rejected 99.75% cash exit as it urges shareholders to stop hedge fund’s “existential” threat

Update: Baillie Gifford US Growth (USA) has published its defence document against Saba Capital, the activist hedge fund seeking to replace its board at the annual general meeting next month, saying shareholders should prevent the US firm from destroying the investment trust’s successful approach. Chair Tom Burnet said the £980m investment trust faced an “existential” […]

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