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 […]
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 […]
