Global technology trust saw costs surge in the first half of the year as a result of the attempt to seize control of its board by activist hedge fund Saba Capital. Herald (HRI) investment trust spent nearly £750,000 defending itself against the attempted takeover by Saba Capital earlier this year, interim results show. Administrative expenses […]
CT Global Managed Portfolio cuts its management fee to boost marketing ahead of the retirement of fund manager Peter Hewitt, and activists raise their stakes in Schroder British Opportunities and Gore Street Energy Storage. CT Global Managed Portfolio Trust, which has separate growth (CMPG) and income (CMPI) portfolios, has negotiated a £135,000 cut in its […]
INPP, a £2.3bn London-listed infrastructure fund, promises good risk-adjusted returns for shareholders from its co-investment with the UK government in the nuclear plant construction project in Suffolk. The ability of London-listed investment companies to back projects of national importance was underlined today when International Public Partnerships (INPP) announced a £250m investment in Sizewell C, a […]
ICG Enterprise nets £22m from the sale of VR software provider Datasite and European Smaller Companies, International Biotechnology, Mobius and Vietnam Holding all report good gains for June. ICG Enterprise Trust (ICGT) has sold its co-investment in Datasite, a software provider focused on virtual data rooms that at 31 January was its fourth largest company exposure […]
Update with QuotedData comment: Apax Global Alpha (APAX) leaps to a 28-month high after its fund manager offers shareholders a 19% premium to last Friday’s share price to end the company’s ten-year stint on the stock exchange. Shares in Apax Global Alpha (APAX) have shot up 17% after the private equity fund abandoned hope of […]
Seraphim Space (SSIT) shares jumped 6% today after the Financial Times reported the Polish government was in talks to invest in ICEYE, the investment trust’s biggest holding, at a valuation “significantly higher” than $1bn (£740m). The Finnish company, which accounted for just over a quarter, or 25.5%, of Seraphim’s £239m portfolio at 31 March, has […]
Update: The embattled board of Maven Renovar VCT (MRV) has hit back at former fund manager Paul Jourdan’s “conflicted” bid to gain control of the £89m venture capital trust that controversially sacked him and his employer, Amati, last year. Publishing a circular for the shareholder meeting requisitioned by Jourdan who is seeking to be elected a […]
PRS REIT (PRSR), the £588m provider and developer of affordable family rental homes, remains in discussions with its sole potential bidder Long Harbour but has issued a “very strong” trading statement in the hope of attracting further approaches. The company, where activists Robert Naylor and Christopher Mills joined the board last October, said today it […]
Assura, the GP surgeries landlord being bought by Primary Health Properties (PHP), publishes annual results and Utilico Emerging Markets celebrates 20 years as a global infrastructure fund. Assura (AGR), the GP surgeries landlord that agreed to a £1.8bn bid from rival Primary Health Properties (PHP) last month, has published annual results showing a 9% investment […]
Stifel is recommending investors take some profits on their investment company positions after an impressive rebound from the panic over US tariffs in early April. The broker said 42 investment companies had risen more than 25% in the wake of President Trump’s sweeping “reciprocal” tariffs on “Liberation Day”, which saw markets fall but then recover as the […]
