Global Opportunities Trust (GOT) fund manager Dr Sandy Nairn has stepped down from the board of the £98m real return fund as the investment company ends its self-managed status and appoints Juniper Partners as alternative investment fund manager (AIFM). Nairn will retain day-to-day responsibility for the management of the funds and shares portfolio through sub-adviser […]
Majedie Investments (MAJE), the £146m absolute return fund, outperformed its target of inflation plus 4% in the year to 30 September, capping off a successful first three years under fund manager Marylebone Partners. The investment trust delivered an 8.2% underlying investment return from its funds and shares portfolio, 4.4% above the consumer prices index although […]
JPMorgan China Growth & Income (JCGI) chair Alexandra Mackesy has welcomed a narrowing in the investment trust’s underperformance after what she said had been three difficult years. The £238m listed fund generated an underlying return of 29.3% for the 12 months to 30 September. While that was below the benchmark’s 30.3% return, it underpinned a […]
Pershing Square Holdings (PSH) fund manager Bill Ackman has made a public pitch to Elon Musk to help the Tesla mogul float his SpaceX next year. In a tweet on X, the social media platform owned by Musk, Ackman suggested his firm Pershing Square Capital Management could commit $4bn to the initial public offer (IPO) […]
Baker Steel Resources (BSRT) gains 4p, or 5.5%, to 76p on two pieces of good news. Futura Resources, the unquoted Australian miner that is its second biggest holding at nearly a quarter of the portfolio, has refinanced its debt through a “Nordic Bond” arranged by Clarkson Securities that raising US$90m cash to repay all its […]
(Update) Chrysalis (CHRY), the £539m pre-IPO growth capital fund stuck on a 35% discount, has proposed a three-year realisation programme with a 2029 continuation vote. Concluding a lengthy consultation with shareholders, the investment company said it would hold an extraordinary general meeting in February to approve the change in investment policy that will see no […]
Seraphim Space (SSIT) says ICEYE, the €2.4bn (£2.1bn) Finnish satellite constellation operator that is its largest holding at 34.7% of net asset value, has won a €1.7bn contract with Germany’s armed forces through its joint venture with Rheinmetall, the German defence and automotive technology group. The contract to deliver space-based reconnaissance capabilities is expected to […]
Pershing Square Holdings (PSH), the £11.5bn London-listed US equities hedge fund run by Bill Ackman, is to provide up to $1bn (£750m) of financing for an insurance company acquisition by portfolio holding Howard Hughes that is part of the fund manager’s ambition to build a “modern-day Berkshire Hathaway”. The investment company, whose shares stand on […]
Annual results from JPMorgan Japanese (JFJ) have demonstrated that style divisions between “growth” and “value” investors are not always as clear cut as they appear. The £1.1bn investment trust of quality growth stocks delivered a 25% underlying investment return in the year to 30 September, beating the 16.9% gain in Japan’s Topix index. Fund managers […]
Private equity fund Oakley Capital Investments (OCI) has committed £3m to an £8m fund raise by Time Out Group (TMO) after the £43m listings and events group suffered a slump in media revenues caused by the growing use by consumers of AI and social media. OCI, a £937m investment company that invests in the private […]
