Octopus Renewable Infrastructure (ORIT) has launched a five-year plan to nearly double the size of the investment company to £1bn through improved capital allocation and increased investment in higher-risk, higher-return construction assets and renewable developers. Chair Phil Austin said more than 90% of shareholders backed the continuation of the company in June but had made […]
Arnhold, the US fund manager opposed to the merger of Ocean Wilsons (OCN) with Hansa Investment Company (HANA), has been granted time by a court in Bermuda to prepare its objection. A court hearing in Bermuda yesterday accepted the New York firm’s request for four weeks to prepare its case against the merger of the […]
Pacific Horizon (PHI), the £618m pan-Asia trust run by Roderick Snell and Ben Durrant at Baillie Gifford, continued to underperform in the second half of its financial year, annual results show. As a result, over the year to 31 July the underlying total return in net asset value (NAV) was 8.3%, below the 17.1% increase […]
Achilles Investment Company (AIC), the £58m investment company activist launched in February, has strayed beyond its closed-end fund remit by taking a stake in private hospital operator Spire Healthcare (SPI). The Guernsey investment company run by Robert Naylor, former chair of Hipgnosis Songs, is one of four Harwood Capital funds to have recently disclosed a […]
Arnhold, the US value investor, is taking its fight against the merger of Ocean Wilsons (OCN) and Hansa Investment Company (HANA) to the court today. According to Ocean Wilsons, which last month rejected Arnhold’s criticisms that the transaction was “unfair” to its shareholders, the New York-based firm plans to appear at the court sanction hearing […]
Half-year results from Vietnam Enterprise and BioPharma Credit with the last interims from Downing Renewables before its sale plus transactions from Riverstone Energy and Third Point Investors. Vietnam Enterprise Investments (VEIL) underperformed in the first half of the year with net asset value (NAV) per share rose rising just 0.9% in US dollar terms versus […]
International Biotechnology Trust enjoys another premium takeover for one of its companies; there are results from Middlefield Canadian, New City High Yield and Schroders Capital Global Innovation; and Foresight Environmental Infrastructure clears its discontinuation vote. International Biotechnology Trust (IBT) says 89Bio, a US Nasdaq-listed company accounting for 0.5% of its £230m portfolio, yesterday received a […]
The board of battery fund Gore Street Energy Storage (GSF) remains under pressure after shareholders blocked two special resolutions at yesterday’s annual general meeting and over a quarter voted against the re-election of chair Patrick Cox. Including the votes of rebel shareholder RM Funds, which holds a 6% stake, nearly 27% of votes were cast […]
Another “alternative assets” investment company heads for the scrap heap after Life Science REIT (LABS) concludes its strategic review and opts for a managed wind-down. The £139m real estate investment trust, whose shares trade 48% below a depressed net asset value (NAV), said the potential value of selling its assets over the next 12 to […]
Pressure mounts on poorly performing £1.6bn global smaller companies trust overseen by star fund manager Terry Smith after activist hedge fund Saba Capital reveals a £229m holding. Saba Capital has hiked its position in Smithson (SSON) to over 14%, putting the activist hedge fund in a strong position to challenge the £1.6bn global smaller companies […]
