A dramatic sell-off in gold and silver in response to the appointment of Kevin Warsh as the next US Federal Reserve chairman has seen mining and commodities funds tumble after their breath-taking run of the past year. On Friday gold dropped almost 10% to $4,850 an ounce, its largest intraday drop since the 2008 financial […]
Shares in 3i Infrastructure (3IN) fell nearly 6% after the £3.4bn top performer in its sector shocked investors with news of an impending write-down of its £212m investment in German telecom provider DNS:NET. The company said its full-year valuation for 31 March would likely include the write-off of the position in DNS:NET, which was investing […]
GCP Infrastructure (GCP) is poised to repay its remaining debts and hit a target of returning £50m to investors after exchanging contracts for the £47.5m sale of social housing properties. The disposals to one buyer represent the large transaction that shareholders were waiting for as the £634m investment company pursues a capital allocation policy […]
Winding-down GCP Asset Backed Income Fund (GABI) has exchanged contracts for the sale of social housing properties that will result in the repayment of £19.2m of loans, with the price in line with previous valuations. In an update, the £118m loan fund said net asset value fell 5.1p, or 6.4%, to 74.69p per share in […]
BH Macro (BHMG), the £1.3bn Brevan Howard hedge fund, has confirmed that closure meetings will be held for its sterling and dollar share classes. This is the second year that votes to close the share classes and possibly wind up the investment company have been triggered by the average share price discount exceeding 8% during […]
Chrysalis (CHRY) is deliberating when to sell its stake in Klarna (KLAR.N), the credit provider whose disappointing performance since its New York flotation in November helped knock 3.7% off the growth capital fund’s net asset value in the last quarter. The £545m investment company, which is about to start a three-year wind-down and recorded a […]
Good stock picking by fund managers Oleg Biryulyov and Luis Carrillo enabled JPMorgan Emerging Europe, Middle East & Africa Securities (JEMA) to deliver a 25.5% underlying investment return in the year to 30 October. This beat by 6% the 19.5% return from its benchmark, the S&P Emerging Europe, Middle East & Africa BMI Net Return […]
Greencoat UK Wind (UKW), the only renewables fund linking dividends to the retail prices index (RPI), has switched its payouts to the lower CPI inflation measure after the government changed its indexation policy towards the sector. This is a response to yesterday’s announcement by the Department for Energy Security and Net Zero that it would […]
3i Group (III) shares hit a two-month high after relieved investors welcomed news of a positive start to the year for Action, the European discount retailer that accounts for over two thirds of the private equity giant’s portfolio. Shares in the FTSE 100 firm jumped 10.5%, or 331p, to £34.78, clawing back over a third […]
Patria Private Equity (PPET) achieved its best underlying performance in three years in the 12 months to 30 September, annual results show. The £941m investment trust generated a total net asset value return of 10.6% from its holdings in private equity funds and stakes in unquoted companies. That was ahead of the modest 5.4% and […]
