HICL Infrastructure (HICL) has been quick to make good on its promise last week to make further investments alongside increased share buybacks, announcing an additional £52m to its holding in Cross London Trains. The acquisition of a further 6.6% takes its total holding to 13.1% in the operator of the Thameslink electric train fleet and […]
BlackRock Latin American (BRLA), the last remaining UK investment trust dedicated to the South Americas, has raised the prospect of its demise after announcing plans to offer shareholders a 100% exit in 2030 if it does not beat its benchmark. The four-year conditional tender offer heaps pressure on fund managers Sam Vecht and Gordon Fraser […]
Herald (HRI), the £1.2bn global technology trust engaged in a high-stake battle with hostile shareholder Saba Capital, is working on a tax-efficient vehicle to enable shareholders to avoid crystallising massive capital gains tax bills if they sell in the upcoming “backstop” tender offer. Saba, a US hedge fund that has built a 31% stake and […]
Baillie Gifford has removed Stephen Paice and Chris Davies as managers of its underperforming European Growth (BGEU) investment trust as it attempts to hold on to the mandate and avoid the £281m listed fund having to offer a 100% exit to shareholders in two years’ time. Joe Faraday, a member of Baillie Gifford’s European equities […]
3i Group (III) plunged 17% yesterday to a 14-month low and a 24% discount after Action, the European discount retailer accounting for over two thirds of the FTSE 100 private equity fund’s assets, announced a €350m-€400m plan to launch in the US from next year. 3i has more than halved since October when Action first […]
International Public Partnerships (INPP) has declared its 10th year of successive dividend increases, the longest record of rising pay-outs in the listed infrastructure fund sector which it said underlined the strength of its portfolio despite the pressure on its share price from higher bond yields. A 2.15p final interim dividend brings the total for 2025 […]
India Capital Growth (IGC), the £93m fund focused on small and mid-cap Indian stocks, yesterday gained over 97% shareholder votes approving the introduction of a dividend and a reduction in the exit opportunities given to investors. The investment company will now pay a semi-annual dividend starting at a level of around 2% of net asset […]
Henderson High Income (HHI), the only London-listed UK equity and bond income fund, has agreed a cut in the management fee it pays fund manager Janus Henderson as it strives to keep its costs in line with more numerous UK equity income rivals. Backdated to 1 January, the 0.45% annual fee that was previously charged […]
SpaceX is to file a prospectus for an initial public offering with US regulators as early as this week, according to reports, with the Times saying this starts a countdown to a $1.5trn flotation that could see Elon Musk’s rocket, satellite and AI group raise $75bn. Baillie Gifford trusts Scottish Mortgage Trust (SMT), Edinburgh Worldwide […]
CQS mining fund managers Keith Watson and Robert Crayfourd are to join Tufton, manager of tanker fleet operator Tufton Assets (SHIP). Tufton Investment Management said they would start later this year after completing their contractual obligations to Manulife CQS. The pair are serving three-month notices after stunning the market with their resignations earlier this month. […]
