JPMorgan Asia Growth & Income (JAGI) outperformed in the six months to 31 March with a 7.1% investment return beating the 5.2% advance in the MSCI Asia ex Japan index. Shareholders in the 4.6%-yielder did even better with a 12% return as the shares’ discount to net asset value narrowed from 8.7% to 4.8%. The […]
The new Saba-backed board of Edinburgh Worldwide (EWI) has confirmed its intention to offer shareholders an exit through a tender offer once SpaceX has floated this month, but its statement to the stock exchange has failed to dispel concerns over its lack of independence from the activist hedge fund widely thought to want to replace […]
Private equity fund manager Hg has committed to increasing its stake in HgCapital Trust (HGT) from 6% to 15% in the “medium term” after the £1.8bn investment trust, which invests in its funds, tumbled to a 25% discount after this year’s AI scare for software stocks. In a statement before a capital markets event in […]
Zurich-listed Partners Group plunged 16% after reports that it had capped investor withdrawals from its flagship $8.6bn Global Value open-ended private equity fund. Shares in US private equity groups such as KKR and Blackstone also fell as the move stoked fears over private market valuations. Partners Group Private Equity (PEY), the £623m London-listed investment company […]
Templeton Emerging Markets (TEM) has congratulated fund managers Chetan Sehgal and Andrew Ness after the Franklin Templeton pair delivered a 41.3% total investment return for the year to 31 March. The “unusually strong” underlying performance saw the Asia-weighted portfolio recover from the shock of US President Trump’s tariffs in April last year to beat the […]
Biotech Growth (BIOG) fund managers Geoff Hsu and Josh Golomb were vindicated in their backing of smaller drug developers in the US and around the world today as the £245m investment trust reported a stunning 73.4% investment return for the year to 31 March. Chair Roger Yates said while the Orbimed duo’s conviction that mid […]
Shares in NextEnergy Solar (NESF), the £279m renewables fund that disappointed investors with a dividend cut in March, fell again today after the company revealed a 10.4% fall in net asset value (NAV) in the fourth quarter of its financial year. The worse-than-expected decline in the three months to 31 March saw NAV per share […]
Seraphim Space (SSIT) is deploying the £137m raised in last month’s C-share issue at one of the “most exciting times” for space technology as SpaceX’s imminent $1.75tn flotation sparks huge investor interest in the sector. Unveiling a 30.7% advance in the portfolio in the first quarter of 2026 (the third in its financial year), chair […]
Ecofin Global Utilities and Infrastructure (EGL) has shaken off turbulence from the Iran war with its shares trading in line with its investments for the first time in three years. Half-year results to 31 March show the £250m investment trust has eradicated the discount to net asset value (NAV) at which it has stood since […]
Morningstar has warned SpaceX is “significantly overvalued” and estimated its fair value at $780bn, less than half the $1.75tn-$1.8tn target in next month’s flotation. In their report, analysts Nicolas Owens and Suryansh Sharma cited regulatory and technical hurdles and also untested AI economics for their cautious assessment. Seeking to puncture some of the hype in […]
