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, […]
A government-backed campaign to expand private investor involvement in corporate bonds is launched today with the support of the London Stock Exchange and Financial Conduct Authority. According to The Times, chancellor Rachel Reeves is due to proclaim “a new golden age” for retail investing in corporate bonds as part of the Treasury’s effort to put […]
Impax Environmental Markets (IEM) is following Herald (HRI) in launching a 100% tender offer in a bid to extricate itself from Saba Capital. The activist hedge fund has built a 20.7%, or £189m, stake in the £763m investment trust and its board fears it is trying to gain control. The exit opportunity, which IEM calls […]
Doric Nimrod Air Three (DNA3) has delisted after completing the £142.3m return of capital through the compulsory redemption of all its shares following the sale of its last A380 plane to Emirates Airline. RTW Biotech Opportunities (RTW) says having benefited from this year’s first US biotech flotation of Atkis, it has now made a gain […]
At least 96% of Finsbury Growth & Income (FGT) shareholders have voted for the 100-year-old investment trust to continue, chairman Pars Purewal declared this afternoon. While the result – based on votes of 34% of the company’s shares – represents a clear vindication of the board’s decision to support fund manager Nick Train through five […]
