Digital 9 Infrastructure (DGI9) shares have tumbled to an all-time low after the two-year wind-down of the investment company received another setback with news that a previous £213m stake in UK broadcasting platform Arqiva was likely to be written off as part of its forthcoming 31 December valuation. Shares in the former Triple Point managed […]
International Biotechnology Trust (IBT), the top performer in its sector over 10 years, has had to correct net asset value (NAV) statements published last month after an administrative error meant the 15.6p dividend declared in December was not deducted from the NAV. As a result 15 “cum income” NAVs issued in January have been revised. […]
Saba Capital has vowed to continue its war of attrition against Edinburgh Worldwide (EWI) by re-submitting resolutions to appoint the same three nominees for the investment trust’s board that shareholders rejected just three weeks ago. In the latest open letter to EWI shareholders, Saba, holder of a dominant 30% stake in the global companies smaller companies […]
Baker Steel Resources Trust (BSRT) extended its impressive New Year rally today after the £115m investment company launched its first share buyback programme in 11 years and flagged up potential further gains in its biggest investment, the unquoted Australian miner Futura Resources. Fund manager Trevor Steel raised the prospect of Futura, in which more than […]
US activist hedge fund Saba Capital has hired corporate broker Sir James Waterlow, former partner at Singer Capital Markets, to take up a new role of UK managing director. In the new position, Waterlow will work alongside Saba portfolio manager Paul Kazarian who has spearheaded the New York firm’s investments in UK investment companies. The […]
Palace Capital (PCA), the £44m UK REIT that Lakestreet Capital activists Christian Kappelhoff-Wulff and Valentin Pierburg took over last month, has sold two of its five remaining properties in Halifax and Newcastle. As its three-and-a-half-year wind-down nears an end, the company has sold a property at Broad Street Plaza, Halifax for £9.9m, 8.7% above the […]
Invesco Bond Income Plus (BIPS), the largest and one of the more cautious funds in the Loan & Bonds sector, is issuing a new tranche of its 7%-yielding shares, but income investors who want to take advantage must move quickly as the offer ends at 2pm on Thursday. The £423m investment company’s share issue kick […]
Japan’s stock market has jumped to a record high after prime minister Sanae Takaichi secured a landslide win in the snap election she called after being elected the country’s first female leader. The Nikkei 224 index rallied 3.9% to 56,364 after her Liberal Democratic Party (LDP) won 352 seats with coalition partner Japan Innovation Party […]
NatWest (NWG) bank has made a big expansion in UK wealth management by snapping up Evelyn Partners for £2.7bn. Confirming weekend reports that NatWest was close to a deal with Evelyn’s private equity owners Permira and Warburg Pincus, the bank this morning confirmed its plan to create the UK’s leading private banking and wealth management […]
Saba Capital disclosed a 5% stake in HarbourVest Global Private Equity (HVPE) last week, joining fellow activist Asset Value Investors (AVI) which holds 3.3% of the £2.3bn listed fund and which last month called on it to consider a wind-up or sale to solve its wide discount. Saba’s position is largely held through swap derivatives. […]
