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 […]
VPC Specialty Lending Investments (VSL), a £46m loan fund in the midst of a lengthy wind-down, is seeking shareholder approval to ratify its oversight in failing to hold a five-yearly continuation vote at the AGM on 11 June. A general meeting has been called for 22 September to propose a resolution to release the fund […]
Saba Capital, the activist hedge fund, has opened a 5% position in SDCL Efficiency Income (SEIT), a move that could see it apply pressure to the board of the £615m renewables fund ahead of a continuation vote in 12 months’ time. A stock exchange filing yesterday evening shows funds at Boaz Weinstein’s New York-based firm […]
Fidelity European, International Public Partnerships and BlackRock World Mining report half-year results; Abrdn UK Smaller Companies publishes annual results and a plan to change its name to Aberdeen; and the Competition and Markets Authority looks into the merger of Primary Health Properties and Assura. Fidelity European (FEV) underperformed by 4.7% in the first half of […]
BioPharma Credit (BPCR), one of four alternative income funds shortlisted in our Investors’ Choice Awards, has announced a $62.5m (£46.5m) five-year loan to a US drug company developing a treatment for a rare form of sexually transmitted disease. Precigen, a Maryland-based biotech specialising in difficult-to-treat conditions, has obtained a $125m secured loan from Pharmakion, the […]
Klarna, the Swedish credit provider, has revived plans for a $14bn (£10.5bn) flotation, raising hopes for Chrysalis (CHRY) which holds a 15% weighting to the global buy-now-pay-later firm. Shares in Chrysalis, a £600m pre-flotation private equity fund, rose over 1% today on hopes yesterday’s announcement of a New York listing may pave the way for […]
Janus Henderson, manager of Bankers (BNKR), the underperforming £1.3bn global investment trust, has appointed technology fund manager Richard Clode to run the bulk of its assets. Clode, manager of the £1.7bn Janus Henderson Global Technology Leaders fund for 11 years, will work as co-manager with Alex Crooke, the trust’s lead manager since 2003. After a […]
