TOBAM, the French quantitative asset manager, has launched an active ETF version of its Global Blockchain Equity fund in partnership with Natixis which will act as market maker. A pioneer in Bitcoin-related investments since 2017, TOBAM established the open-ended fund in 2021 to give investors a focused portfolio of stocks correlated with the cryptocurrency. Since […]
Edinburgh Worldwide (EWI) has beaten off Saba Capital for a second time in a year. Excluding shares held by Saba, shareholders representing 92.7% of shares voted in the general meeting in Edinburgh today rejected the activist hedge fund’s resolutions to remove the investment trust’s board of directors. EWI chair Jonathan Simpson-Dent (pictured above) thanked shareholders […]
Schroders Capital Global Innovation (INOV), the former Woodford Patient Capital Trust which is being wound up, is building up funds for a second return of cash to shareholders after the sale of one of its top 10 holdings. The Guernsey-based Salica Environmental Technology Fund (SETF), in which INOV holds a minority stake after selling Ombu, […]
BH Macro (BHMG) has negotiated an increase in the amount of shares it can buy back as the £1.3bn Brevan Howard hedge fund grapples with a 10% share price discount that looks set to trigger wind-up votes for its sterling and dollar listings. The board of the Guernsey investment company, chaired by Richard Horlick, has […]
Invesco Bond Income Plus (BIPS) looks to extend its share issuance programme; JPMorgan Global Core Real Assets (JARA) makes third return of capital under its managed wind-down; European Smaller Companies (ESCT) starts 5% dividend pay-out policy it promised following its merger with European Assets Trust last year; and Strategic Equity Capital (SEC) fund manager Ken […]
Shares in Baker Steel Resources Trust (BSRT) have jumped 6% after the £88m mining fund said its portfolio had leaped nearly 18% in December and that it would be taking steps soon to narrow its wide share price discount. The Guernsey investment company said net asset value (NAV) per share advanced 17.7%, or 20.5p, last […]
Workspace Group (WKP) has replaced chief executive Laurence Hutchings as the flexible office space provider rushes to prepare a defence strategy against hostile shareholder Saba Capital. Hutchings has stepped down with immediate effect and will be replaced on 2 February by Charlie Green, former chief executive and co-founder of The Office Group (TOG), which sold […]
Scottish Mortgage Trust (SMT) has confirmed in its latest factsheet that last month’s doubling in the valuation of SpaceX to $800bn pushed the Baillie Gifford flagship above its 30% cap on unquoted companies with 35.2% of the £15.7bn portfolio in unlisted stocks. SpaceX, a rapidly expanding rocket company launched by Elon Musk, is now a […]
Stock markets in Europe and Asia fell and precious metals rallied after the European Union considered retaliating against US president Donald Trump’s threat to impose 10% tariffs in a dispute over Greenland. The Financial Times reported EU capitals were considering hitting the US with €93bn of tariffs, or restricting American companies from the bloc’s market, […]
A government-backed campaign to expand private investor involvement in corporate bonds is launched today with the support of the London Stock Exchange and Financial Conduct Authority. According to The Times, chancellor Rachel Reeves is due to proclaim “a new golden age” for retail investing in corporate bonds as part of the Treasury’s effort to put […]
