Golden Prospect Precious Metals (GPM), the £92m gold mining fund preparing to move to Baker Steel from CQS Manulife, scored a hit with its big share buybacks in the first half of the year. Interim results today show the investment company suffered a 13.6% slide in net asset value (NAV) in the six months to […]
Glenstone, the 25.4% shareholder in Alternative Income REIT (AIRE), says it will resume its push for a managed wind-down of the real estate investment trust if its takeover offer fails, casting doubt on the “subscale” company’s dividend prospects. With two weeks to go until the deadline for acceptances for its £56.3m cash offer, Glenstone REIT […]
Schroder Real Estate (SREI) says Peter Lowe, head of UK Real Estate Investment at Schroders Capital, will replace Nick Montgomery as lead manager once its joint acquisition of Picton Property (PCTN) with LondonMetric (LMP) completes. Montgomery, who was promoted to Global Head of Real Estate at Schroders two years ago, will support Lowe, who oversees […]
Temple Bar (TMPL), the best performing UK equity income investment trust over five years, fell behind the FTSE All-Share in the first half of the year but has since pulled ahead of its benchmark, half-year results show. The £1.3bn closed-end fund recovered from the shock of the Iran war and the spike in oil prices […]
Scottish Mortgage Trust (SMT) rose 2.2% yesterday after its fund managers’ faith in Moderna (MRNA) was rewarded with a near trebling in the US drug developer’s shares. Nasdaq-listed Moderna soared 177%, or $111, to $174.38, valuing the company at more than $60bn, after a late-stage trial showed its individualised cancer therapy intisemeran was successful in […]
Global Opportunities Trust (GOT), the £97m defensive global equities fund run by Dr Sandy Nairn at Goodhart Partners, made a 1.5% total investment return including its dividend in the first half of the year. Excluding the 10.3p per share final dividend paid in May, the portfolio’s net asset value (NAV) fell 1.1% to 397.3p per […]
A difficult first half for JPMorgan American (JAM) has not dented the optimism of its fund managers who say the growing opportunities from artificial intelligence (AI) and the resilience of the US economy bode well for the future. The £2bn investment trust, which owns the managers’ 20 best “growth” and 20 top “value” stocks in […]
Achilles Investment Company (AIC), the £52m closed-end fund activist, has appointed Chris Hills, former chief investment officer at Investec Wealth and Investment, as its strategic adviser. Hills, who worked for Investec W&I for over 25 years and became chief investment consul following its acquisition by Rathbones in 2023, retired from full-time work last October. He […]
International Public Partnerships (INPP), the £2.5bn infrastructure investment company, has sold stakes in nine UK private-public partnership (PPP) projects to InfraRed Capital Partners which will manage the assets on behalf of Dutch pension scheme ABP. Total proceeds from the disposal, involving 15 London comprehensives, special educational schools and further education colleges built as part of […]
Shaires Holdings (SHR), the AIM-listed investment company offering exposure to a portfolio of private artificial intelligence companies, has extended its retail share offer to 4.30pm on 24 August to give it time to reach a “broader range of investors”. The offer of new shares at $20 each at a discount of around 18% to their […]
