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 […]
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, […]
