Achilles (AIC), the investment company activist launched by Robert Naylor and Chris Mills after their salvaging of shareholder returns at Hipgnosis Songs two years ago, is preparing for a second round of campaigns to revive its share price and invest a cash pile that stood at nearly £17m in June. The company’s maiden annual report […]
Saba Capital has disclosed a new 5% stake in Neuberger Private Equity Partners (NBPE), increasing pressure on the £560m investment company to narrow its 28% share price discount. The filing to the London Stock Exchange on Friday is the first time the activist hedge fund has formally stated its position, although its £38.7m Saba Capital […]
Gore Street Energy Storage Fund (GSF), the £247m battery fund that last month survived a wind-down vote proposed by activist Saba Capital, has announced a two-year tolling agreement on its three Texas projects with Canada’s MAG Energy Solutions (MAG). From 19 October, MAG will manage the bidding, scheduling and dispatch of GFS’ Snyder, Sweetwater, and […]
JPMorgan Global Growth & Income (JGGI) has unveiled a second year of underperformance with chair James Macpherson saying its fund managers had “underestimated the scale and market impact of the AI investment boom”. JP Morgan portfolio managers Helge Skibeli, who will retire in 2028, James Cook and Sam Witherow admitted the year to 30 June […]
Seraphim Space (SSIT) says Xona Space Systems has jumped to become its second biggest investment after a fund raising earlier this year added £52.2m to the valuation of the Californian company developing a constellation of low-orbit satellites. Seraphim invested $15m (£11.3m) from the £137m it raised in a C-share issue in May as part of […]
Baker Steel Resources Trust (BSRT), the £142m mining fund whose shares have rallied 94% in the past year, saw its net asset value (NAV) per share fall by 8.3p, or 4.6%, to 172.4p in September. This was largely due to decreases in the listed share prices of Tungsten West and Blue Moon Metals. At 132p […]
A “resilient” first half performance saw ICG Enterprise Trust (ICGT) post a 3.3% total investment return in the six months to 31 July. At a time when markets are gripped by the rapid rollout of artificial intelligence and unnerved by rising inflation and government debts, the £1.3bn private equity portfolio said its growth was driven […]
Partners Group Private Equity (PEY) has entered a managed wind-down after 99.9% of shares voted at yesterday’s extraordinary general meeting were in favour of realising all the assets of the £457m investment company. The vote on turnout of just over 62% follows the decision of 74.1% of shareholders to choose to exit through a new […]
Ashoka India Equity (AIE) has asked shareholders to overlook the “minor setback” of a 5.9% fall in net asset value after a difficult year exacerbated by high energy prices caused by the US-led war on Iran. The £416m investment trust outperformed the MSCI India index which fell 8.5% in the 12 months to 30 June […]
CG Asset Management has promoted portfolio manager Emma Moriarty to the investment team on its £802m flagship Capital Gearing Trust (CGT). Moriarty (above), a former senior economist at the Bank of England, will become a co-manager of the multi-asset, capital preservation fund alongside CGAM’s founder Peter Spiller and co-chief investment officer Chris Clothier. This will […]
