Pershing Square (PSH) fund manager Bill Ackman has revealed he bought a $2bn stake in Meta Platforms (META) last November, betting the Facebook and Instagram owner will benefit from its huge expenditure on artificial intelligence which is forecast to rise to $135bn from $72.2bn in 2025. In an annual presentation to investors in the £8bn […]
The Renewables Infrastructure Group (TRIG), the £1.7bn renewables fund labouring under a 36% share price discount, has announced a £200m private debt placement to reduce its £398m revolving credit facility by the same amount. It comprises of two fixed rate loans, one in sterling for £100m and another in euros for €115m. James Carthew at […]
Picton Property Income (PCTN) rallied nearly 6% after the UK real estate investment trust said LondonMetric Property (LMP) had taken an interest in the strategic review and sale process it began last month. Shares in the £452m REIT rose 4.7p, or 5.6%, to 87.8p as the company said it looked forward to progressing discussions with […]
Invesco Bond Income Plus (BIPS) has announced the price at which it will issue new shares in the two-week fund raise closing tomorrow. Investors who have subscribed in the institutional placing and retail offer will buy their shares at 173.28p. That is 0.75% above the net asset value announced by the bond fund yesterday, which […]
Mark and Linda O’Hare, the couple who made £2bn selling their Preqin data firm to BlackRock two years ago, are backing HgCapital Trust (HGT) to recover following last week’s share price slide. Valhalla Ventures, the holding company that owned Preqin and sold it for £2.5bn cash to BlackRock in 2024, yesterday disclosed a 3.3% stake […]
Smithson (SSON) shares have been suspended after more than 99% of shareholder votes yesterday approved the liquidation of the £1.5bn investment trust ahead of its conversion to the open-ended Smithson Equity Fund. Turnout was low, however, with just 26.9% of shares in the global small-cap portfolio voted. This was the first of two general meetings […]
Digital 9 Infrastructure (DGI9) shares have tumbled to an all-time low after the two-year wind-down of the investment company received another setback with news that a previous £213m stake in UK broadcasting platform Arqiva was likely to be written off as part of its forthcoming 31 December valuation. Shares in the former Triple Point managed […]
International Biotechnology Trust (IBT), the top performer in its sector over 10 years, has had to correct net asset value (NAV) statements published last month after an administrative error meant the 15.6p dividend declared in December was not deducted from the NAV. As a result 15 “cum income” NAVs issued in January have been revised. […]
Saba Capital has vowed to continue its war of attrition against Edinburgh Worldwide (EWI) by re-submitting resolutions to appoint the same three nominees for the investment trust’s board that shareholders rejected just three weeks ago. In the latest open letter to EWI shareholders, Saba, holder of a dominant 30% stake in the global companies smaller companies […]
Baker Steel Resources Trust (BSRT) extended its impressive New Year rally today after the £115m investment company launched its first share buyback programme in 11 years and flagged up potential further gains in its biggest investment, the unquoted Australian miner Futura Resources. Fund manager Trevor Steel raised the prospect of Futura, in which more than […]
