Fear of an artificial intelligence (AI) bubble, an underweight position in banks such as JP Morgan and Goldman Sachs and a holding in struggling drinks giant Diageo cost Alliance Witan (ALW) dearly in 2025 as it underperformed the MSCI All Country World index for a second year in a row. The £4.8bn multi-manager trust, which […]
Saba Capital has opened a 5.2% position in Allianz Technology Trust (ATT) and included it in the activist hedge fund’s new active ETF targeting undervalued investments trusts. The New York based firm, which is battling to take control of Herald (HRI) and Impax Environmental Markets (IEM), holds most of the £96m ATT stake in total […]
Update: 3i Infrastructure (3IN) has sold its 71% stake in TCR, the airport ground support equipment provider, for €1.14bn (£1bn), 22% more than the 30 September valuation and 50% more than at 31 March last year when its biggest position was put up for sale. News that the company will repay the €626m drawn on […]
Update: Greencoat Renewables (GRP), the £749m Ireland-focused wind and solar fund trailing on a 31% discount, is looking to sell €350m of assets over 18 months to reduce debts and buy back €100m (£87m) of shares. Alongside annual results, showing an already disclosed 10.3% fall in net asset value (NAV), it also announced a plan […]
Aberdeen UK Smaller Companies (AUSC) is “engaging closely” with fund managers Abby Glennie and Amanda Yeaman after the investment trust endured a “disappointing” half year of underperformance that saw its market value fall by 20%, mostly due to the high level of share buybacks authorised by the board to support the weak share price. For […]
Bellevue Healthcare (BBH) will be left with around £60.5m as it transfers to Columbia Threadneedle after shareholders sold 40.9%, or just over 29.9m shares, in the 100% tender offer announced last month. At its peak in 2021 under former fund manager Bellevue Asset Management, BBH had £1bn of assets. Ameriprise Financial, the parent company of Columbia […]
We already knew Seraphim Space (SSIT) had a strong fourth quarter from gains in its top four holdings ICEYE, AllSpace, D-Orbit and Hawkeye 360 highlighted last month. Interim results for the six months to 31 December today show net asset value (NAV) jumped 20.1% to 142.3p per share from 118.52p. The half-year results show the […]
Foresight Solar (FSFL) has had to pay more to UK tax authorities to settle historic liabilities, knocking another 5.5p from net asset value per share on top of the 3.6p adjustment made in November. Overall NAV per share fell 2.9p to 99.2p in the fourth quarter a trading update showed, benefiting from a higher production […]
Murray International (MYI) benefited from its genuinely global portfolio in 2025 as gains in Latin America and Asia as well as the US pushed the £2.1bn equity income trust to a total underlying return of 21.9%. Shareholders enjoyed a 36% total return as the shares shed their discount and ended December on a small premium […]
HICL Infrastructure (HICL) has resumed buying back its shares on a 22% discount and is near the end of a consultation with nearly half its shareholders since abandoning a merger with InfraRed stablemate The Renewables Infrastructure Group (TRIG) late last year. It will publish its conclusions in May. In a trading update for October to […]
