Updated with comments from fund manager Mark Boggett. Seraphim Space (SSIT) has declared 2025/26 a “watershed” year after the portfolio of mostly private space technology companies more than doubled with a 39.7% gain in the fourth quarter rounding off an exceptional 12 months. Annual results show net asset value (NAV) per share increased by 102.9% […]
Mercantile (MRC), the £1.7bn UK mid-cap investment trust run by JP Morgan, is parting company with Anthony Lynch, its co-manager for 14 years. Lynch will step down at the end of the month to take up “new responsibilities” at JPMorgan Asset Management. Manasij (“Manny”) Hajra, co-manager of the JPM UK Equity Growth open-ended fund, will […]
Workspace Group (WKP), the flexible office provider that in July beat off an attempt by activist Saba Capital to replace its board, says the additional £100m of disposals it identified in its defence strategy will not be achieved by its original timetable of March 2027. Charlie Green, the chief executive appointed eight months ago, said […]
Octopus Renewables Infrastructure (ORIT) has committed £34.6m to the purchase and construction of a solar park in West Yorkshire as the 10%-yielder looks for growth investments to boost its annual returns under last year’s five-year plan. Bought from OnPath Energy, a leading onshore solar developer, the 55 MWp Barnsdale Solar Park is expected to generate […]
A trading update from Schroder Real Estate (SREI) shows the real estate investment trust has completed nine new lettings over the past two months as its joint acquisition of Picton Property completed. Although SREI will not comment in detail on the impact of the £404m all-share bid with LondonMetric (LMP) that completed on 11 September […]
Vietnam Holding (VNH), the £60m investment company managed by Dynam Capital, saw 14.7% of its shares tendered in its third annual redemption facility. Shareholders who sold will receive 371.45p per share with payments expected to be made around 21 October. This will leave the company with 15.7m shares in issue with a further 1.1m held […]
Scottish Oriental Smaller Companies (SST) has scrapped plans for a 25% tender offer and launched a strategic review that could see it merge with a rival. Following consultation with some of its largest shareholders, the biggest of which is discount hunter City of London Investment Management with a 17% stake, the £315m Asia small-cap trust […]
Lindsell Train (LTI) believes its shareholders have demonstrated “continued confidence” in the investment trust after a 20% tender offer was over-subscribed with 32.5% of shares put up for sale. Nearly 6.5m shares were validly tendered in the offer announced last month and approved by shareholders last Thursday, giving them the chance to sell shares at […]
Baillie Gifford US Growth (USA) has received a significant boost in its AGM battle with Saba Capital after the three leading, independent proxy vote advisers supported its position in the crucial vote. The £1bn investment trust said Glass Lewis, ISS and PIRC, which institutional investors use to advise them on company votes, had all recommended […]
Literacy Capital (BOOK) has sold its minority stake in Cubo Work back to the majority shareholder of the office and co-working space provider. Financial terms have not been disclosed but Richard Pindar, chief executive of BOOK’s fund manager, said the outcome was a bit better than its warning at the start of this month that […]
