John Scott, the outgoing chair of Bluefield Solar Income (BSIF), has warned shareholders in the renewables fund that the “business as usual” option is unavailable as he held out the prospect of the double-digit yielder merging with its fund manager Bluefield Partners and cutting its payout. Delivering his last annual report, Scott said the £493m […]
Life sciences fund Syncona (SYNC) has withdrawn plans for a managed wind-down and will instead focus on returning £250m of capital to shareholders. Following consultation with its biggest shareholders on its strategic options, Syncona Investment Management (SIML) will, however, continue to launch a new private fund for institutions once the board of the listed investment […]
Mobius (MMIT), the £166m emerging markets smaller companies investment trust, proposes moving its triennial 100% redemption facility to two-yearly once the next redemption in December is complete. That would mean the next exit opportunity would be in 2027. James Carthew, head of investment company research at QuotedData, commented: “As I have said before, I think […]
Mercantile (MRC), the £1.8bn UK mid-cap equities investment trust run by JPMorgan’s Guy Anderson and Anthony Lynch, underperformed in the half-year to 31 July with its 6% investment and total shareholder returns both trailing the 7.2% return from the FTSE All-Share excluding the top 100 blue chips and all investment trusts. Performance was bolstered by […]
RTW Biotech Opportunities (RTW) is to extend share buybacks by $15m (£11m) following a flurry of four bids for portfolio companies since 30 June. This is in addition to the $24.2m of capital the £397m investment trust has returned to shareholders through share repurchases since launching a $30m buyback programme in 2023. The updated capital […]
Seraphim Space (SSIT) saw its largely unquoted portfolio of space commercialisation companies rise by 28.9%, or £58.3m, to £259.8m in the year to 30 June. The strong underlying performance was helped by a doubling in the value of ICEYE, the satellite constellation provider that accounted for 37.4% of net assets at the financial year-end, which […]
Home REIT inches towards a relisting of its suspended shares with publication of its delayed 2024 results; Sirius Real Estate makes another big acquisition in Germany; and Montanaro European Smaller Companies will hold its first semi-annual tender offer next month. Home REIT (HOME), the former homeless accommodation provider subject to a regulatory probe over an […]
Sequoia Economic Infrastructure Income (SEQI), the £1.2bn high yielding debt fund, has finally drawn a line under the collapse of Bulb Energy that contributed to a derating in its shares four years ago. In its monthly valuation update the investment company said “successful settlements in the full recoverability” of the £55m secured loan to Bulb […]
UK smaller companies funds Strategic Equity Capital and JPMorgan UK Small Cap Growth & Income made little overall headway in their latest financial years but express confidence that their sector offers “compelling” returns in future. Strategic Equity Capital (SEC), the £161m UK smaller companies investment company that saw 22% of shares tendered this month, had […]
Biotech Growth (BIOG) is ploughing on with share buybacks in the hope investors will soon sit up and notice the startling recovery in its shares. Since early April, when the investment trust had tumbled to more than a six-year low on Trump tariff fears, the shares have shot up 77%, lifting its market valuation to […]
