Baillie Gifford US Growth (USA) has defended its decision to almost halve its investment in SpaceX shortly before the valuation of Elon Musk’s rocket company doubled to $800bn last month. In interim results for the six months to 30 November, chair Tom Burnet said “the position had grown to represent more than 10% of the […]
Bluefield Solar Income (BSIF), the £403m renewable infrastructure fund that put itself up for sale in November, has said over 90% of its development projects have received grid connection dates from the National Energy System Operator (NESO). Of these, 600MW, or half of BSIF’s 1.3GW pipeline, have been given Gate 2, Phase 1 offers by […]
HarbourVest Global Private Equity (HVPE), one of the largest listed funds in its sector after 3i Group (III), is facing calls to wind down or sell itself from top 10 shareholder Asset Value Investors. The activist manager of AVI Global (AGT) and MIGO Opportunities (MIGO) investment trusts says it will not support the continuation vote […]
Residential Secure Income (RESI), the £106m real estate investment trust that entered a managed wind-down in October 2024, is struggling to sell its assets at the valuation in its books, although both the retirement and shared ownership portfolios are under offer with potential purchasers doing due diligence after a competitive bidding process. In annual results […]
Activist Saba Capital has taken a position of over 5% in GCP Infrastructure (GCP), sending the debt fund’s highly discounted shares 2.5% higher. Adding to its sprawling list of stakes in UK-listed investment companies, the hedge fund this morning disclosed a 5.3% equity holding through total return swaps, a form of derivative. GCP shares added […]
Taylor Maritime (TMI), the specialist dry bulk shipping company, is to make a compulsory purchase of 46% of its shares on 30 January in order to complete the $143.4m return of capital announced last month following the sale of a “large portion” of its fleet. The dollar shares will be bought at a price of […]
Correction: Smithson is changing its name to “SNINVC” but the open-ended investment company that will succeed it will be called Smithson Equity Fund. Smithson (SSON) is to change its name to “SNINVC” as the £1.6bn global smaller companies investment trust prepares to liquidate and convert to an open-ended investment company (OEIC) as part of the […]
Sarah Arkle, chair of Vietnam Enterprise Investments (VEIL), has stepped down a day after its heavily oversubscribed 10% tender offer. Arkle, a former Threadneedle fund manager who joined the VEIL board four years ago and became chair in June 2024, announced her immediate departure yesterday having informed the market on Tuesday that holders of 68% […]
CC Japan Income & Growth (CCJI) predicts 2026 could be another strong year for Japan as corporate governance reform, technological advances and the return of inflation continue to unlock value and boost asset prices. Chair June Aitken and lead fund manager Richard Aston struck an upbeat tone as the £325m investment trust celebrated a successful […]
Literacy Capital (BOOK), the £236m UK private equity fund on a 22% discount, will pay off its remaining debts after selling Tyrefix, a provider of plant tyre repair services, to Nordic rival Citira AB. BOOK is selling its entire stake in the company, which it first backed in November 2020, for £14.7m in cash at […]
