NatWest (NWG) bank has made a big expansion in UK wealth management by snapping up Evelyn Partners for £2.7bn. Confirming weekend reports that NatWest was close to a deal with Evelyn’s private equity owners Permira and Warburg Pincus, the bank this morning confirmed its plan to create the UK’s leading private banking and wealth management […]
Saba Capital disclosed a 5% stake in HarbourVest Global Private Equity (HVPE) last week, joining fellow activist Asset Value Investors (AVI) which holds 3.3% of the £2.3bn listed fund and which last month called on it to consider a wind-up or sale to solve its wide discount. Saba’s position is largely held through swap derivatives. […]
BlackRock Energy and Resources Income (BERI) is in strong shape ahead of next month’s continuation vote after notching up a third consecutive year of outperformance. Annual results for the year to 30 November confirm a total 28.8% return for shareholders underpinned by an underlying 23.5% return from the portfolio of mining, traditional oil and gas […]
Baker Steel Resources Trust (BSRT) has seen its discount widen to 33% as its shares lag a portfolio surging in the commodity boom and benefiting from last month’s rally in Tungsten West. The £102m investment company managed by Trevor Steel of Baker Steel Capital Managers saw net asset value (NAV) jump 11.9% to £162m last […]
HgCapital Trust (HGT) is the centre of attention with a flurry of news following a 25% share price slump over the threat to its private software companies from low-cost artificial intelligence rivals. In a bid to reassure shareholders, the board of the now £1.7bn investment trust, which invests in the private equity funds of manager […]
TR Property (TRY) has appointed Peel Hunt as its joint corporate broker with Panmure Liberum following the decision of its former joint broker Stifel Nicolaus Europe to close its UK equities trading business. Seven investment companies have appointed Canaccord Genuity where some of the Stifel team have joined. JPMorgan Global Core Real Assets (JARA) has […]
Finsbury Growth & Income (FGT) has pared some of this week’s losses after fund manager Nick Train argued the market’s “panic” over Anthropic’s threat to his key data and software holdings was mis-placed. Despite the big falls in his long-standing investments in London Stock Exchange Group (LSEG), Sage, RELX, and newer holdings in Autotrader, Experian, […]
Long-term business software investor Hg has commented on the selloff in tech stocks this week that has crushed shares in HgCapital Trust (HGT), which invests in Hg’s private equity funds. Over two decades Hg has built up $185bn (£136bn) of investments in 60 privately owned software providers. Although these are not directly affected by the […]
Manchester & London (MNL) technology fund manager Mark Sheppard has slashed his position in Microsoft from 21.8% to 4.8% as software stocks reel in response to Anthropic’s launch of new automated plugins to its chatbot Claude. Commenting on MNL’s three-month performance on LinkedIn, Sheppard said: “We have underperformed the Nasdaq 100. We are disappointed. We […]
BlackRock American Income’s (BRAI) new systematic stock-picking approach has gone down well with investors after a positive re-rating of the investment trust’s shares. Annual results show the £134m closed-end fund made a 22% underlying investment return from 17 April, when the data-crunching quantitative process was applied, up to the financial year-end of 31 October. Shareholders […]
