News

28 Jul 2025

AIC demands government include investment companies in pensions bill and support sector “vital” for UK growth

The Association of Investment Companies (AIC) has accused the government of a contradictory approach to the UK’s £262bn listed closed-end funds sector after excluding its members from the Pension Schemes Bill. The new bill will empower the government to force pension schemes to invest some of their portfolios in private assets, but as currently drafted […]

28 Jul 2025
picture of an empty laboratory

Bidders circle as Life Science REIT reports big first half fall and loan covenant breach

Life Science REIT (LABS) has received “significant amount of interest” from potential buyers but warned its real estate portfolio fell by nearly 11% in the first half.  The “Golden Triangle” property investor put itself up for sale in March as part of a strategic review launched in response to the wide discount the shares have […]

28 Jul 2025

QuotedData’s morning briefing 28 July: AERI, CVCG, HANA, CPMG/CMPI & DIVI

Aquila European Renewables slides 12% as preferred bidder cuts the value of its bid and board pauses sales process, and CVC Income and Growth changes the master fund it feeds into. Aquila European Renewables (AERI) shares slide 12% to 54 euro cents as its board “pauses” the sale of the company after its preferred bidder […]

28 Jul 2025

Literacy Capital to make first return of capital after booking 52% second quarter gain on software provider

Literacy Capital (BOOK), the UK-focused, smaller company private equity fund, has cut its stake in its second largest investment, Velociti Solutions, a transaction that enables a £6m return of capital to shareholders and, equally important, validates the valuation of a portfolio stuck on a double-digit discount.  Literacy, named after the reading charity it supports, said […]

28 Jul 2025

Close Brothers’ £104m Winterflood sale to Marex brings trust veteran Sofocleous into view

Update: Winterflood, the investment company broker and market maker, has been sold to Marex, a US Nasdaq-listed commodoties trading platform, for £103.9m cash. Although not well known in the UK, market observers had spotted Marex’s potential interest in the inevestment trust sector, given Angelo Sofocleous, a former Cantor Fitgerald boss, has worked for the company […]

25 Jul 2025

Banks and defence stocks boost “excellent” Law Debenture  

Law Debenture (LWDB) smashed the UK stock market rally in the first half of the year with its investments and professional services businesses both firing on most cylinders.  Interim results today showed the £1.3bn UK equity income trust made a 15% underlying return in the six months to 30 June, beating the 9.1% advance in […]

25 Jul 2025

QuotedData’s morning briefing 25 July: GCP, INPP, AUGM, SUPR, ATY

GCP Infrastructure reduces its debts with the settlement of an audit dispute and International Public Partnerships declares its first ever quarterly dividend. GCP Infrastructure (GCP) has settled a contractual dispute relating to the audits of the accreditation of a solar portfolio under the renewables obligation certification regime. Terms are confidential but the £667m company will […]

25 Jul 2025

Investors jump at chance to sell what’s left of Woodford Patient Capital Trust

Investors holding more than two thirds of Schroders Capital Global Innovation applied to sell their shares in this month’s tender offer. The £37m tender offer of Schroders Capital Global Innovation (INOV) was oversubscribed by more than three times as investors leaped at the chance to exit the former Woodford Patient Capital Trust at asset value. […]

24 Jul 2025

Angry Third Point investors form action group to fight for “fair deal” and stop hedge fund’s reverse takeover by Malibu Life

Update: Third Point Investors reverses yesterday’s gains as shareholders owning 14% of the hedge fund, including Asset Value Investors and Evelyn Partners, join forces to oppose its transformation plan. Angry investors holding 14% of Third Point Investors (TPOU) have formed an action group to oppose the hedge fund’s controversial plan to transform itself into a […]

24 Jul 2025

UK needs another gilts crisis to cut government spending, say Capital Gearing Trust managers

Peter Spiller, lead manager of Capital Gearing Trust (CGT), has warned of the increasing risk of a gilt market crisis to force the UK government to curb spending. Labour’s recent failure to pass proposed cuts in personal independence benefit payments is a blow to the prime minister and chancellor’s plan to free up investment spending […]