Vietnam Enterprise (VEIL), the largest of the three London-listed Vietnam funds, plans to hold the second of three tender offers it promised after nearly losing a continuation vote last summer. Charles Cade, the interim chair who took over the £1bn investment company in January, gave no details in the 2025 annual results but said the […]
Aquila European Renewables (AERI), the investment company whose wind-down is being overseen by Achilles (AIC) activist Robert Naylor as chair, has issued annual results reflecting a “challenging” 2025 and warning that it may have to continue selling assets below net asset value. Disposals to Aquila Capital, the fund manager, have led to the return of […]
Baillie Gifford trusts Scottish Mortgage, Schiehallion and US Growth have more than doubled their valuation of Anthropic, the Claude chatbot developer reported to be overtaking arch-rival OpenAI at $1trn. Scottish Mortgage (SMT), Baillie Gifford’s £15.1bn global flagship, said after an upwards adjustment the unquoted AI company accounted for 2.5% of net assets at Friday’s close, […]
Saba Capital, the activist hedge fund, has requisitioned a general meeting of shareholders to remove the board of Impax Environmental Markets (IEM). The US firm emerged with a powerful 29.9% stake in the £832m investment trust last week following an exit tender offer organised by the board that saw nearly 78% of the shares put […]
Seraphim Space (SSIT), the £520m investor in unquoted, early-stage space tech companies, is looking to raise up to £350m in the C-share issue it announced earlier this month. According to a statement this morning, there is a Retail Book offer to private investors and an institutional placing both at £1 a share. The money raised […]
Edinburgh Worldwide (EWI) has proposed holding two tender offers, or exit opportunities, if its board survives another crunch shareholder vote brought by Saba Capital on Thursday. The board of the Baillie Gifford managed global smaller companies investment trust needs around 75% of shareholders to vote at the annual general meeting (AGM) on 30 April to […]
TwentyFour Select Monthly Income (SMIF) has bounced back from the fund’s worst month in three years when its portfolio of bank and corporate debt fell 2.7% in March. The declaration of a top-up interim dividend and resumption of share issuance shows the £300m investment company is back on track after being knocked by the fallout […]
The outgoing fund managers of Golden Prospect Precious Metals (GPM), last year’s best-performing investment company, remain confident about the portfolio’s prospects despite a 22.7% slump in net assets last month caused by the turmoil in the Middle East. Keith Watson and Robert Crayfourd, who are leaving Manulife CQS for Tufton Investment Management, said counterintuitively gold […]
North American Income Trust (NAIT) has outperformed in its first full year at Janus Henderson after switching from Aberdeen in August 2024. For the year to 31 January the £468m investment trust managed by Francis Radano and Jeremiah Buckley delivered an underlying total return of 8.8%. This beat the 4.9% return in sterling from the […]
Bluefield Solar Income (BSIF) and RM Funds manager Pietro Nicholls have welcomed the government’s move to cut the carbon price support tax and encourage renewable funds on new fixed price contracts. BSIF, a £484m investment company that is up for sale along with its fund manager Bluefield Partners, said the removal of CPS would knock […]
