Ashoka India Equity (AIE) has asked shareholders to overlook the “minor setback” of a 5.9% fall in net asset value after a difficult year exacerbated by high energy prices caused by the US-led war on Iran. The £416m investment trust outperformed the MSCI India index which fell 8.5% in the 12 months to 30 June […]
CG Asset Management has promoted portfolio manager Emma Moriarty to the investment team on its £802m flagship Capital Gearing Trust (CGT). Moriarty (above), a former senior economist at the Bank of England, will become a co-manager of the multi-asset, capital preservation fund alongside CGAM’s founder Peter Spiller and co-chief investment officer Chris Clothier. This will […]
Update: Brown Advisory US Smaller Companies (BASC) has decided to call it a day and offer shareholders a rollover into rival JPMorgan US Smaller Companies (JUSC). Concluding a strategic review that he revealed in July, chair Stephen White said shareholders would also have the option of an uncapped cash exit at 99.25% of net asset […]
Saba Capital has increased its position in Grainger (GRI), the £1.2bn residential landlord, to 9.2% from 8.9%. The activist hedge fund first disclosed a stake of 5% in June in the build-to-rent developer. Mike Ashley, founder of Frasers (FRAS), the Sports Direct owner, bought 4.2% in May. Onward Opportunities (ONWD), the £57m UK smaller companies trust […]
Schroder Japan (SJG) fund manager Masaki Taketsume is confident he can continue to generate attractive returns, while cautioning that performance may moderate after the £442m investment trust achieved a 41.2% total gain in the year to 31 July. The annual results showed the underlying growth in net asset value (NAV) easily beat the 29.3% rise […]
Fidelity Emerging Markets (FEML) has hailed its stunning 92.3% investment return for the year to 30 June as a “resounding vindication” of fund managers Nick Price and Chris Tennant. The total underlying return on net asset value (NAV) smashed the impressive 48.2% return from the MSCI Emerging Markets index and drove a 99.3% total return […]
HgCapital Trust (HGT) has bagged an £18m gain on the £71m sale of its stake in Gen II Fund Services. The New York-based global fund administration company has been bought for $5.1bn by private equity giant KKR from Hg, manager of HGT, General Atlantic and other minority investors. The uplift for HGT represents an increase of […]
Partners Group Private Equity (PEY) looks set to enter a managed wind-down after nearly three quarters of shareholders chose to sell their holdings in the company’s proposed reconstruction. Chair Peter McKellar said holders of 74.12% of the company’s shares had chosen to take the new realisation share class offered by his board in the summer […]
Sirius Real Estate (SRE), the £1.3bn Anglo-German business park investor, achieved 11.3% rent roll growth year on year in the six months to 30 September. Nearly half, or 5.1%, of this came from organic growth and the rest from £150m defence-related and self-storage investments. After repaying a €400m corporate bond in June, the group has […]
Shares in Literacy Capital (BOOK) tumbled 10% this morning after the UK private equity fund shocked investors by warning that its £24.4m investment in Cubo Work, an office and co-working space provider, was likely to be written off. The company said “several issues” had become apparent at Cubo in recent weeks, which the team at […]
