Asia and European stock markets have plunged after Iran threatened to attack ships in the region in response to ongoing air strikes against the country by the US and Israel. The UK’s FTSE 100 slumped 2.7%, or 287 points, to 10,492 as defence and mining stocks joined travel companies and banks in sharp declines at […]
RIT Capital Partners (RCP), the £3bn Rothschild-backed global investment trust, generated a 13.5% underlying return last year, helped by a strong second half recovery in world markets and excellent returns from its private equity investments, including a raised stake in SpaceX. With sentiment towards the multi-asset fund improving following sustained share buybacks and increased transparency […]
Update: Bluefield Solar Income (BSIF) has had “good interest” from potential bidders with a shortlist of parties doing due diligence and the sales process started in November progressing “in line with expectations”. The £460m, 11%-yielding renewables fund also reported good operational performance in the half-year to 31 December despite a 7.5% drop in net asset […]
Custodian Property Income (CREI) has made its second all-share acquisition of a family property company in two weeks, buying Scorpion Properties, a portfolio of five single-let industrial assets in the South Midlands along the M40 corridor for £8.5m. The 6.8%-yielding portfolio comprises of four vehicle accident repair centres let to one of the UK’s leading […]
YieldMax, a US options-based income specialist, has launched a fourth actively managed exchange traded fund (ETF) targeting volatile semiconductor stocks as a source of high yields for income investors. The London-listed YieldMax Semiconductor Option Income UCITS ETF (CHPY) uses a complex variation of a “covered call” strategy which aims to minimise the amount of upside […]
Impax Environmental Markets (IEM) and fund manager Impax are under pressure to give Saba a cost-free exit after the activist hedge fund said that was the only obstacle to selling its 21% stake in the continuation tender offer last week. In response to an open letter from IEM chair Glen Suarez appealing to Saba founder […]
Update: The FTSE 100 slid 0.9% as travel and economically sensitive stocks such as banks retreated in response to the joint strikes by US and Israel on Iran at the weekend. However, gains by London-listed oil stocks as crude prices jumped more than 7% supported the UK blue-chip index, which fell less heavily than its […]
Private equity fund manager Hg has sold a €500m (£439m) stake in French legal software firm Septeo to a group of institutional investors but with HgCapital Trust (HGT) maintaining its holding, last valued at £129.6m in September. Hg has not previously disclosed the value of its majority ownership of Septeo, which provides legal software for […]
Baillie Gifford Shin Nippon (BGS) says its 15% tender offer was more than three times over-subscribed with holders of over 122m shares offering to sell compared to the 36.8m shares the company said could be sold in December. That’s nearly half the 245m shares the the underperforming £365m investment trust has in issue, excluding the […]
If shareholders in Herald (HRI), Impax Environmental Markets (IEM) and Edinburgh Worldwide (EWI) investment trusts require any reminding of the peril they could face under Saba Capital, they only need look at the “cautionary tale” of the US activist’s record on one of its own funds, says broker Investec. Alan Brierley, head of investment company […]
