International Biotechnology Trust (IBT) is to expand its investments in unquoted companies under a partnership with Schroders Capital, the private markets arm of its fund manager Schroders. The £258m investment trust has committed to invest £10m, around 4% of its assets, in Schroders Capital funds focused on innovative, early-stage biotech companies. This is in addition […]
Gore Street Energy Storage (GSF) is to speed up the replacement of its board of directors in response to the significant minority votes against their re-election at the recent extraordinary and annual general meetings of shareholders. Following the appointment last month of infrastructure investor Simon Merriweather, the board is close to announcing a new non-executive […]
Board of Pacific Assets Trust insists its fund managers must make up for underperformance of the past four years to avoid a 25% tender offer in 2028, plus annual results and updates from JPMorgan Global Growth & Income, Abrdn Diversified Income & Growth, Patria Private Equity, Seraphim Space and a name change at JPMorgan Indian. […]
Former Scottish Mortgage Trust (SMT) fund manager James Anderson has expressed concern about a bubble in artificial intelligence (AI) following Nvidia’s plan to invest $100bn in OpenAI. Anderson, who now runs a fund at Lingotto Investment Management, a firm backed by Italy’s billionaire Agnelli family, told the Financial Times that the surge in valuations in […]
TwentyFour Income Fund (TFIF) has become the second debt fund to launch a fund raise this week in response to strong investor demand for high-yielding asset-backed securities (ABS). The £883m investment company, whose shares yield 9.7% after consistently beating its dividend targets since launch in 2013, has announced a two-week share placing and open offer […]
Litigation Capital Management (LIT), an alternative asset manager that finances legal disputes, plunged today after the company was hit by the latest in a string of courtroom defeats that have pushed the Australian business deeply into the red. Shares in the AIM-listed company tumbled 16p, or 60%, to 10.6p after the High Court in London […]
Alliance Witan (ALW) has made two changes to its panel of external fund managers, dropping ARGA Investment Management after just 18 months and also letting go Sustainable Growth Advisors (SGA). ARGA, a Stamford, Connecticut global value fund manager was only added to the panel of stock pickers in April last year after the then Alliance […]
Jon Forster is stepping down as co-manager of Impax Environmental Markets (IEM). Forster will step back at the end of the year to become a senior industrials analyst at Impax Asset Management focused on environmental solutions companies. He will continue to contribute investment ideas for the portfolio. Jon is replaced by Sanjeev Lakhani, who joined […]
Annual report from Ruffer Investment Company, half-year update from 3i Infrastructure and results and news from Vietnam Holding, SDCL Energy Efficiency, North Atlantic Smaller Companies and Ashoka India Equity. Wealth preserver Ruffer Investment Company (RICA) failed to meet its benchmark in a year to 30 June that saw the departure in February of fund manager […]
Baronsmead venture capital trusts (VCTs) shored up Strategic Equity Capital (SEC) with a £10m investment two months before the Gresham House stablemate announced a 100% tender offer due to take place in October. Second quarter updates for the £200m Baronsmead Venture Trust (BVT) and £204m Baronsmead Second Venture Trust (BMD) revealed they each “invested £5m […]
