CT UK Capital and Income has changed its name to CT Progressive Income (with an unchanged ticker of CTUK) as it looks to raise its profile with a new target of paying dividends ahead of inflation. The £327m, 3.7%-yielding investment trust is an Association of Investment Companies’ “dividend hero” having consistently increased its pay-outs each […]
LondonMetric Property (LMP) has exchanged on the sale of the first office it bought in the joint takeover of Picton Property Income with Schroder Real Estate (SREI) last month. The all-share bid brought in £307m of assets for LMP, 83% of which are in its core area of logistics warehouses, and £24m cash. In a […]
Montanaro European Smaller Companies (MTE) has launched its third tender offer in 16 months, giving shareholders the opportunity to sell 5% of its shares back to the company at a 5% discount to net asset value (NAV). Shares in the £202m investment trust managed by George Cooke and Stefan Fischerfeier currently stand 8.7% below NAV. […]
Primary Health Properties (PHP) is to release £500m of cash for debt repayment after forging a joint venture (JV) with Singaporean sovereign wealth fund GIC. The 50-50 strategic partnership will invest in private hospital infrastructure with PHP serving as property and asset manager. PHP will seed the JV with its portfolio of 27 private hospitals […]
US Solar Fund (USF) has given its potential buyer a second extension to complete due diligence on a portfolio whose 42 assets it has been assessing for five months. The £115m investment trust, whose portfolio was stabilised by Amber Infrastructure Group when it replaced New Energy Solar Manager as investment adviser in December 2023, said […]
AVI Japan Opportunity Trust (AJOT) has launched its third uncapped annual tender offer, giving shareholders a chance to sell all their shares at a 2% discount to the value of its investments if they wish. Given the shares currently stand around 2% below net asset value (NAV), there is likely to be limited demand for […]
Saba Capital’s Boaz Weinstein and former Devon Equity Management chief executive Richard Pavry have joined the board of SDCL Efficiency Income Trust (SEIT). At a general meeting last Thursday Weinstein and Pavry were appointed as non-executive directors with just over 84% of votes on a 42.5% turnout. The £374m investment trust was put into managed […]
Caution towards the surge in technology stocks by the managers of Fidelity Asian Values (FAS) saw the £377m Asia Pacific smaller companies investment trust underperform in the year to 31 July. Although Fidelity’s Nitin Bajaj and Ajinkya Dhavale did very well holding Taiwanese chip giant TSMC as their biggest position, a decision to underweight tech […]
JPMorgan UK Small Cap Growth & Income (JUGI) has reported a year of underperformance ahead of its merger with Aberdeen UK Smaller Companies Growth (AUSC). A lack of mining stocks and the AI sell-off in software stocks were the main factors in the £419m investment trust’s 7.2% investment return lagging the 9.8% gain in the […]
Finsbury Growth & Income (FGT), the underperforming UK equity income trust run by Nick Train, had a “challenging” September with net asset value (NAV) and the share price falling 7.9% and 7.8% against a 1.9% decline in the FTSE All-Share index. Despite that, both NAV and shares outperformed in the third quarter with respective gains […]
