Manchester & London (MNL) technology fund manager Mark Sheppard has slashed his position in Microsoft from 21.8% to 4.8% as software stocks reel in response to Anthropic’s launch of new automated plugins to its chatbot Claude. Commenting on MNL’s three-month performance on LinkedIn, Sheppard said: “We have underperformed the Nasdaq 100. We are disappointed. We […]
BlackRock American Income’s (BRAI) new systematic stock-picking approach has gone down well with investors after a positive re-rating of the investment trust’s shares. Annual results show the £134m closed-end fund made a 22% underlying investment return from 17 April, when the data-crunching quantitative process was applied, up to the financial year-end of 31 October. Shareholders […]
Finsbury Growth & Income (FGT) shares slumped over 6% yesterday after a product launch by AI provider Anthropic caused a sell-off in its top four holdings: Sage, Experian, London Stock Exchange Group and RELX. Anthropic, the $183bn developer of the Claude chatbot backed by Scottish Mortgage (SMT) and other Baillie Gifford trusts, said its new […]
Grainger (GRI), the £1.4bn UK residential real estate investment trust, says its latest build-to-rent scheme in London, Seraphina, has been fully let in less than four months. A “strong” trading statement for today’s annual general meeting in Newcastle covering the four months to 31 January shows 3.1% rental growth and 96% occupancy in line with […]
Saba could receive a taste of its own medicine after GAMCO Investors, a rival US investment group, launched a bid to get one of its directors on the boards of two of the activist’s funds. GAMCO, a Connecticut-based investment group trading as Gabelli, said it and some of its affiliates intended to nominate David Schachter […]
Herald (HRI) has cancelled its 100% tender offer and tomorrow’s meeting to approve it after activist hedge fund Saba voted its near 31% stake against the resolution. The two sides are in talks to find a solution. The special resolution required 75% of votes in favour to pass, meaning Saba has blocked the transaction for […]
Canaccord Genuity, the Canadian investment banking and wealth management group, has re-entered the UK investment company broking sector after hiring a team from Stifel. Phil Hopkins, managing director of investment fund sales; Scott Anderson, sales director; and Edward Gibson-Watt, managing director of corporate broking, joined Canaccord last month, according to their LinkedIn profiles. Iain Scouller, […]
CQS Natural Resources & Growth (CYN), the £134m mining fund that has delivered a 107% one-year total return in the gold and silver boom, most of it after Saba Capital exited in a tender off last July, has published a circular for a vote seeking shareholder approval to issue up to 20% more shares. Last […]
SpaceX, the Elon Musk rocket and satellite company backed by Baillie Gifford investment trusts Scottish Mortgage (SMT), Edinburgh Worldwide (EWI), Baillie Gifford US Growth (USA) and Schiehallion (MNTN), has merged with xAI, his artificial intelligence startup and developer of the Grok chatbot. It said the energy to properly develop AI is only available in space […]
Saba Capital has received regulatory approval in Dublin to launch the active exchange-traded fund that will expand the activist’s campaign against UK investment companies. In a filing last week the Central Bank of Ireland upgraded the Saba Capital Investment Trusts UCITS ETF from “null” to “active” and gave a legal entity identity to the fund […]
