Utilico Emerging Markets (UEM), the only emerging markets focused infrastructure fund listed in London, has convincingly passed the continuation vote it brought forward a year early as part of the series of shareholder-friendly initiatives announced last month. A total of 97.6% of proxy votes received before today’s annual general meeting approved an amendment to the […]
US Solar Fund (USF), a £120m renewables fund battling technical problems and a hostile policy environment under President Trump, has posted a surprise 3.2% gain in net asset value (NAV) and a 55% increase in its previously cut dividend target. The Amber managed fund, which has shed a third of its value in the past […]
Private equity fund Oakley Capital Investments makes a partial divestment from its stake in two education groups; Riverstone Energy accelerates its wind-down with the second big disposal in two days; Nippon Active Value’s activism keeps it ahead of the Japanese stock market; plus updates from RIT Capital Partners, Gresham House Energy Storage, Ground Rents Income […]
Finsbury Growth & Income (FGT), Nick Train’s struggling investment trust, has issued a public warning after fraudsters cloned its website and LinkedIn page in an attempt to trick people into taking out fictitious loans. In a statement on its website, the company said: “Finsbury Growth & Income Trust PLC (FGIT) has recently been made aware […]
UK smaller companies trust Strategic Equity Capital (SEC) is honouring a commitment made three years ago to offer investors a 100% exit. The £163m UK small-cap fund managed by Ken Wotton at Gresham House said it would hold a tender offer next month allowing shareholders to sell all their shares at a price close to […]
Poorly performing Octopus Titan VCT (OTV2) has cut its fund manager fee by 17% and slashed the notice it needs to give to terminate Octopus Investments’ contract from three years to 12 months. A further 20% fee rebate could be clawed back if the fund manager does not deliver a 5% annual target return after […]
JPMorgan US Smaller Companies reports 12.4% first half fall; Riverstone Energy makes first disposal in its managed wind-down; Sirius Real Estate taps borrowers for more money; plus updates from HgCapital, Augmentum Fintech, RTW Bioscience and Sequoia Economic Infrastructure Income. JPMorgan US Smaller Companies (JUSC) is having a difficult year, reporting a 12.4% fall in the […]
Our review of last month’s big risers and fallers shows how concerns about President Trump’s threat to the independence of the Federal Reserve exacerbated concerns over US inflationary pressures. This made August a good month for investment companies exposed to gold and Asia, but less kind for listed renewables and some growth funds as forecasts […]
Third Point Investors (TPOU) has received further criticism for not allowing shareholders a bigger exit ahead of its controversial reverse takeover of Malibu Life after a $136m (£101m) redemption offer was over-subscribed by more than two times. The Dan Loeb managed global hedge fund said over 9.5m shares were submitted for sale compared to the […]
More change at the £333m Japanese smaller companies trust looms following the appointment of a new fund manager in May as chair Jamie Skinner acknowledges the impatience of shareholders with its poor performance. The chair of Baillie Gifford Shin Nippon (BGS) has said its plans for a 15% tender offer if the Japanese smaller companies […]
