Update: Shares in SEGRO (SGRO), the £10bn European logistics investor, are in focus after Prologis (PLD), the world’s largest industrial real estate investment trust, launched a hostile £12.6bn bid, appealing directly to shareholders with an all-share offer rejected by the SEGRO board yesterday. SEGRO shares jumped nearly 19%, or 135p, to 881p, but below the […]
Janus Henderson technology fund manager Richard Clode is to take full control of Bankers’ (BNKR) investments as the £1.4bn global equities trust abandons its regional structure ahead of the retirement of former lead manager Alex Crooke. Crooke, a former head of equities for EMEA and Asia Pacific at Janus Henderson, has managed Bankers for 23 […]
Schroder European Real Estate (SERE), a £78m REIT struggling on a 40% discount, is to wind down, over the next two-to-three years saying its assets can be sold for more than the share price implies. “Despite strong property performance and effective corporate management, we have advised the board that a managed wind-down is the most […]
Primary Health Properties (PHP) has confirmed reports that it is in advanced talks with an investor regarding using its private hospital portfolio to seed a new joint venture. “As previously announced, PHP has been exploring a range of strategic options to enhance the long-term value of the private hospital portfolio, including potential joint venture arrangements […]
IP Group (IPO), the £581m early-stage investor in university spin-off companies, has rejected a bid approach from Railpen, the £34bn railways pension scheme. Railpen, which has invested in IP Group since 2019 and holds an 18.4% stake, yesterday published an offer of 69.7p per share, including 59p cash, with an additional 5p per share if […]
JPMorgan European Growth and Income (JEGI) has underlined why European Opportunities Trust (EOT) last month chose it as the main rollover option for shareholders in its wind-down with annual results boasting a 20.1% investment return for the year to 31 March. JEGI’s advance in net asset value beat the MSCI Europe ex-UK’s 14.8% return by […]
RTW Biotech Opportunities (RTW) and International Biotechnology Trust (IBT) have both bagged a further gain from the M&A wave sweeping their sector after US drugs giant AbbVie swooped on portfolio holding Apogee Therapeutics with a $10.9bn cash bid that bolsters its treatment pipeline for inflammatory diseases like atopic dermatitis and asthma. Shareholders in the Nasdaq-listed […]
Polar Capital Technology (PCT), the best performing investment trust over five years, took some profits last month and adopted a more defensive posture as a broadening rally in artificial intelligence (AI) stocks pushed its shares 18% higher and fund managers Ben Rogoff and Alastair Unwin made room for SpaceX in their portfolio. Rogoff told Citywire […]
Global inflows into exchange-traded funds (ETFs) hit a record $1.07trn in the first five months of the year with active ETFs capturing 38.5% of new money, according to data provider ETFGI. Building on last year’s momentum, active ETFs drew in $411.75bn from January to May, almost double the $220.5bn gathered in the same period last […]
NextEnergy Solar (NESF) has appealed for shareholders to vote for the company’s continuation at its annual general meeting (AGM) in August saying it is taking “decisive action” to narrow the 38% share price discount. In its annual results the £271m investment company said talks were underway with potential buyers for the first 45MW of 120MW of assets lined […]
