News

11 Apr 2025
a plug about to be plugged into a socket

Renewables still powering ahead, but trust discounts suggest investors haven’t plugged in

In spite of the ‘drill baby drill’ ambitions of the new US administration, the rapid adoption of renewable energy sources continues. More than 40% of the world’s electricity was generated without burning fossil fuels in 2024, according to think tank Ember. Solar powered electricity has doubled in three years, with India and China setting the […]

14 Mar 2025

Asia’s evolution: China’s dividend drive could reshape your income mix

The new US administration has sucked oxygen from other important stories around the world. While the world was focused on Trump’s tariffs, China quietly announced a $41bn package to boost consumer spending. It was a sign that the government would do ‘whatever it takes’ to drive growth. It may suggest a change of direction for […]

14 Feb 2025

Are we still in love with the Magnificent Seven?

Investors’ most enduring love affair over the past decade has been with mega-cap technology stocks. They have swooned as the sector has gone from strength to strength, pushing more and more capital in its direction. However, there is a growing question as to whether this romantic entanglement is nearing its natural end. Until recently, the […]

17 Jan 2025

Saba: the view from the boards

Boaz Weinstein, head of New York-based hedge fund Saba Capital, pulled no punches when discussing the boards of investment trusts in his recent webcast. They were “obstinate”, a “boys’ club”, protecting their own interests, “part of an ecosystem of greed taking fees away from the pensioners.” Their actions verged on “almost malpractice”, distributing misinformation to […]

06 Dec 2024

Banking back on top – Trump deregulation hopes reignite financials sector

Contrary to expectations, the best performing sector for the year to date is not technology, but financials. The short-term catalyst has been a surge for the banking sector in the wake of the election of Donald Trump, as investors anticipate deregulation and merger and acquisition (M&A) activity. However, the roots of financial sector strength go […]

18 Oct 2024

Investment company cost disclosures – job done(?)

The long campaign on cost disclosure The past month has brought a flurry of activity over the cost disclosure rules under MiFID and their impact on investment trusts. Bill MacLeod, managing director at Gravis, and one of the key players in the team that has lobbied for the proper treatment of investment trust costs, is, […]

20 Sep 2024

Much more to Europe than dynamic duo

A lot has been made of the concentration in the US market, but the concentration of European markets has been less widely discussed. Just as the S&P 500 has been focused on a handful of large cap companies linked to a narrow theme, the MSCI Europe also has a significant weighting to Novo Nordisk and […]

23 Aug 2024

Heineken trusts: reaching the parts that other trusts can’t

QD view – four idiosyncratic investment options that provide a differentiated and diversifying addition to a portfolio Part of the joy of investment trusts is that they allow fund managers more room to explore. It doesn’t matter too much if a strategy is highly cyclical, goes through periods of unpopularity, or is illiquid, because managers […]

19 Jul 2024

Time to inject some healthcare into your portfolio?

The healthcare and biotechnology sector has some natural tailwinds: ageing populations, rising emerging market wealth, innovation and rising healthcare utilisation. However, while pharmaceutical companies have been stable, biotechnology has been hit by poor sentiment and rising interest rates. Nevertheless, there are signs of recovery. The sector is diverse. Funds such as Polar Capital Global Healthcare […]

14 Jun 2024

Baillie Gifford funds – Think different

QD view: The overlap between the portfolios of Baillie Gifford’s range of global investment trusts is limited, yet investors are treating them as quite narrow variations on a theme and this is throwing up opportunities for those able to appreciate the nuances within the range. It has undoubtedly been a difficult period for the Baillie […]