US Solar Fund (USF) has given its potential buyer a second extension to complete due diligence on a portfolio whose 42 assets it has been assessing for five months. The £115m investment trust, whose portfolio was stabilised by Amber Infrastructure Group when it replaced New Energy Solar Manager as investment adviser in December 2023, said […]
AVI Japan Opportunity Trust (AJOT) has launched its third uncapped annual tender offer, giving shareholders a chance to sell all their shares at a 2% discount to the value of its investments if they wish. Given the shares currently stand around 2% below net asset value (NAV), there is likely to be limited demand for […]
Saba Capital’s Boaz Weinstein and former Devon Equity Management chief executive Richard Pavry have joined the board of SDCL Efficiency Income Trust (SEIT). At a general meeting last Thursday Weinstein and Pavry were appointed as non-executive directors with just over 84% of votes on a 42.5% turnout. The £374m investment trust was put into managed […]
Caution towards the surge in technology stocks by the managers of Fidelity Asian Values (FAS) saw the £377m Asia Pacific smaller companies investment trust underperform in the year to 31 July. Although Fidelity’s Nitin Bajaj and Ajinkya Dhavale did very well holding Taiwanese chip giant TSMC as their biggest position, a decision to underweight tech […]
JPMorgan UK Small Cap Growth & Income (JUGI) has reported a year of underperformance ahead of its merger with Aberdeen UK Smaller Companies Growth (AUSC). A lack of mining stocks and the AI sell-off in software stocks were the main factors in the £419m investment trust’s 7.2% investment return lagging the 9.8% gain in the […]
Finsbury Growth & Income (FGT), the underperforming UK equity income trust run by Nick Train, had a “challenging” September with net asset value (NAV) and the share price falling 7.9% and 7.8% against a 1.9% decline in the FTSE All-Share index. Despite that, both NAV and shares outperformed in the third quarter with respective gains […]
Updated with comments from fund manager Mark Boggett. Seraphim Space (SSIT) has declared 2025/26 a “watershed” year after the portfolio of mostly private space technology companies more than doubled with a 39.7% gain in the fourth quarter rounding off an exceptional 12 months. Annual results show net asset value (NAV) per share increased by 102.9% […]
Mercantile (MRC), the £1.7bn UK mid-cap investment trust run by JP Morgan, is parting company with Anthony Lynch, its co-manager for 14 years. Lynch will step down at the end of the month to take up “new responsibilities” at JPMorgan Asset Management. Manasij (“Manny”) Hajra, co-manager of the JPM UK Equity Growth open-ended fund, will […]
Workspace Group (WKP), the flexible office provider that in July beat off an attempt by activist Saba Capital to replace its board, says the additional £100m of disposals it identified in its defence strategy will not be achieved by its original timetable of March 2027. Charlie Green, the chief executive appointed eight months ago, said […]
Octopus Renewables Infrastructure (ORIT) has committed £34.6m to the purchase and construction of a solar park in West Yorkshire as the 10%-yielder looks for growth investments to boost its annual returns under last year’s five-year plan. Bought from OnPath Energy, a leading onshore solar developer, the 55 MWp Barnsdale Solar Park is expected to generate […]
