Abrdn European Logistics Income (ASLI) will complete its wind-down after shareholders overwhelmingly voted against proposals from Polish logistics group DL Invest, an 18% shareholder, which wanted to replace Aberdeen as fund manager and resume the listed fund’s investment activities. Nearly three quarters, or 72.6% of shares, were voted in the general meeting requisitioned by DL […]
Fidelity Special Values (FSV) fund manager Alex Wright has told The Times that this month’s “AI scare” has created some of the best investment opportunities since the 2020 pandemic. While he believed that some of the sell-down in highly-rated stocks such as London Stock Exchange Group (LSEG), Relx (RELX) and Experian (EXPN) was “a valid […]
Chrysalis Investments (CHRY) fund managers Richard Watts and Nick Williamson have hit back at the board of the growth capital fund after it served six-month protective notice on them and criticised the pair for a lack of development in their business since spinning off from Jupiter Asset Management. Announcing an extraordinary general meeting to approve […]
The consolidation trend has moved to BlackRock with its Throgmorton (THRG) small-cap trust agreeing to merge with the larger BlackRock Smaller Companies (BRSC). Shareholders will be offered 38% and 28% cash exits in both investment trusts respectively at 1% discounts to net asset value. Saba, the activist holding 17.8% of BlackRock Throgmorton and 10.4% of […]
Valhalla Ventures, the holding company of Preqin founder Mark O’Hare, has lifted its stake in HgCapital (HGT) for a fourth time to 7.2% from 6.4%. The Jersey-based company bought again on Tuesday and now holds almost 33m shares which at almost 439p give him a stake worth around £145m in the £2bn investment trust investing in the private equity […]
For the second year in a row, BH Macro (BHMG), the £1.3bn Brevan Howard hedge fund, has won the backing of a big majority of its sterling shareholders to continue. Over 96% of votes at a sterling share class closure meeting held today were cast against discontinuation. Participation was high with 71.7% of sterling shares […]
Rights and Issues (RIII), the £106m UK smaller companies trust struggling on a 19% discount, has taken a step to maximise its chance of reinstating desperately needed share buybacks. A vote to resume share buybacks, which was blocked twice by a big shareholder last year, will be presented as an ordinary as well as a […]
Invesco Global Equity Income (IGET), the best-performing trust in its sector over five years, will retain over 96% of assets in Franklin Global (FRGT) following a shareholder vote on the merger announced in November. Holders of 46.28m FRGT shares, 96.3% of the total, yesterday agreed to roll over their investment into IGET, which is trading […]
Pantheon International (PIN), the £1.6bn private equity trust under pressure from activist investor Metage over its 28% share price discount, has cut the fund management fee it pays by an estimated 19%. From 1 June the company will pay Pantheon Ventures a flat rate of 1% of net asset value, which stood at £2.2bn at […]
Valhalla Ventures, the holding company of Preqin founder Mark O’Hare, has lifted its stake in HgCapital (HGT) for a third time to 6.4%. The disclosure came yesterday as the private equity trust fell as Investec reversed the “buy” rating slapped on the shares two weeks ago when they stood at a two-year low. Jersey-based Valhalla […]
