Impax Environmental Markets (IEM) has passed the first hurdle in its effort to escape the clutches of Saba Capital, though, like Herald (HRI), the other investment trust being stalked by the activist hedge fund, its future remains uncertain. Yesterday the unique £831m London-listed investment company got almost unanimous approval from the 38.9% of its shares […]
Herald (HRI), the £1.2bn global technology trust in a fight for survival with Saba Capital, has complained to the Financial Conduct Authority (FCA) about the actions of its 31% shareholder, which it “deplores”. Saba, an activist hedge fund with stakes in dozens of UK investment companies, was pushing to take control of Herald by “a […]
Saba Capital, the scourge of UK investment companies, has joined efforts to throw a lifeline to investors stuck in three US listed private credit funds run by Blue Owl which have been hit by the recent sell-off in software companies. Saba, the New York-based activist hedge fund, has joined with Cox Capital Partners, a provider […]
Well over half, or 58.6%, of Smithson (SSON) shareholders have opted to take cash rather than roll over into the new open-ended Smithson Equity Fund. In an update on the liquidation of the £1.5bn global smaller companies investment trust announced in November, Smithson said holders of 58.6%, or over 62.9m, of its shares had chosen […]
Chrysalis (CHRY) has denied its fund managers’ claim that dismissing them will endanger its biggest holding in Starling bank. On Friday, in an angry response to the investment company serving notice on them, fund managers Richard Watts and Nick Williamson said the move risked the fund’s recently acquired seat on the board of Starling, a […]
Abrdn European Logistics Income (ASLI) will complete its wind-down after shareholders overwhelmingly voted against proposals from Polish logistics group DL Invest, an 18% shareholder, which wanted to replace Aberdeen as fund manager and resume the listed fund’s investment activities. Nearly three quarters, or 72.6% of shares, were voted in the general meeting requisitioned by DL […]
Fidelity Special Values (FSV) fund manager Alex Wright has told The Times that this month’s “AI scare” has created some of the best investment opportunities since the 2020 pandemic. While he believed that some of the sell-down in highly-rated stocks such as London Stock Exchange Group (LSEG), Relx (RELX) and Experian (EXPN) was “a valid […]
Chrysalis Investments (CHRY) fund managers Richard Watts and Nick Williamson have hit back at the board of the growth capital fund after it served six-month protective notice on them and criticised the pair for a lack of development in their business since spinning off from Jupiter Asset Management. Announcing an extraordinary general meeting to approve […]
The consolidation trend has moved to BlackRock with its Throgmorton (THRG) small-cap trust agreeing to merge with the larger BlackRock Smaller Companies (BRSC). Shareholders will be offered 38% and 28% cash exits in both investment trusts respectively at 1% discounts to net asset value. Saba, the activist holding 17.8% of BlackRock Throgmorton and 10.4% of […]
Valhalla Ventures, the holding company of Preqin founder Mark O’Hare, has lifted its stake in HgCapital (HGT) for a fourth time to 7.2% from 6.4%. The Jersey-based company bought again on Tuesday and now holds almost 33m shares which at almost 439p give him a stake worth around £145m in the £2bn investment trust investing in the private equity […]
