Ashoka India Equity (AIE) is to pay its first dividend since launch seven years ago after shielding investors from the turmoil of US President Trump’s chaotic tariffs policy. Annual results yesterday showed the £470m investment trust emerged essentially unscathed from the turbulence caused by Trump eventually slapping a 25% tariff on India’s imports along with […]
Saba Capital has increased its position in Smithson (SSON) to 15% from the 14.1% the activist hedge fund revealed a month ago. It now holds over 16.4m voting rights in Terry Smith’s £1.7bn global smaller companies investment trust on a 9% discount. International Biotechnology Trust (IBT) and RTW Biotech Opportunities have benefited from another acquisition […]
Maven Renovar VCT (MRV), the former Amati AIM venture capital trust, has said it will not fund raise in the current financial year following shareholders’ failure to approve a change in the investment policy for Maven Capital Partners which it controversially appointed in May. In a revolt at the VCT’s decision to sack smaller companies […]
Saba Capital’s holding in Herald (HRI) has strayed further above the 30% threshold it passed in July. The activist hedge fund now owns just over 31% of Katie Potts’ £1.2bn global technology trust resulting from its unsuccessful attempt to oust the board at the start of the year. The increase from just over 30% is […]
Activist hedge fund Saba Capital has intensified pressure on Gore Street Energy Storage (GSF) by taking a 5% stake in the international battery fund. Shares in the £293m investment company rose 1.7% to 59p on Wednesday afternoon, slightly narrowing their wide 44% discount to asset value, after Saba disclosed a holding of over 25.3m voting […]
Partners Group Private Equity (PEY) is to launch its first share buyback programme in over 11 years this month in response to its chronic 22% share price discount. Following the sales in July of PCI Pharma Services, its largest investment, and Techem, its seventh largest investment, the £740m investment company says distributions this year will […]
Infrastructure Capital, a New York boutique, has bypassed the buoyant market in London-listed debt funds to launch the first actively managed Dublin-based exchange traded fund (ETF) investing in US preferred shares. The Infrastructure Capital Preferred Income Ucits ETF has been listed by ETF provider HANetf on the London Stock Exchange under the PFFI ticker as […]
Henderson Smaller Companies (HSL), the £549m underperforming UK small-cap investment trust whose fund manager Neil Hermon retired last month after 23 years, has passed its triennial continuation vote. At the annual general meeting yesterday it gained the support of 95% of votes on turnout of 38.6%. Riverstone Energy (RSE) is to return £190m in a […]
Full-year results from PRS REIT (PRSR) underline the scale of the bargain pension asset manager Waypoint is getting with its £646.2m acquisition of the family home rental fund. In the year to 30 June, net asset value per share rose 7.4% to 143p from 133.2p, although the rate of growth slowed to 2.3% in the second […]
A weak dollar weighed on ICG Enterprise (ICGT) in the first half of its financial year but marketing efforts by the £949m private equity fund, combined with share buybacks and success in exiting investments during a sector downturn nonetheless produced a good result for shareholders. The investment trust, which invests in private equity funds run […]
