Capital Gearing Trust (CGT), the £800m wealth preservation fund, has said the “tariff swoon” in the two months to 8 April was a “good dress rehearsal” for the more prolonged bear market its fund managers believe is around the corner. While global share prices plunged almost 20% over fears about the impact of Donald Trump’s US trade policies, the investment trust’s net asset value fell by just […]
CG Asset Management has urged HICL Infrastructure (HICL) to pull out of its proposed £5.3bn merger with The Renewables Infrastructure Group (TRIG), with the Capital Gearing Trust (CGT) management group saying it was “appalled “ by the value destruction the deal will bring and that it “can see no strategic rationale” for the all-share transaction […]
TwentyFour Income Fund Limited (TFIF), the £906m income fund investing in asset-backed securities, achieved a 5.9% investment return in the six months to 30 September and declared 4p of dividends in line with its 8p annual target before the final balancing payment at year-end. The company traded at an average premium of 1.3% above net […]
Rockwood Strategic (RKW), the £139m UK smaller companies investment trust that won a QuotedData Investors’ Choice award last month, narrowly beat one of its benchmarks in the half year to 30 September. An underlying net asset value total return of 12.5% compared to the 12.1% rise in the FTSE Small Cap (ex-ITs) index although it was […]
Looking for TwentyFour Income Fund Limited (TFIF)? Click here for our story on its half-year results. And for our report on Rockwood Strategic (RKW) interims, click here. Hydrogen Capital Growth (HGEN) has had its listing restored by the Financial Conduct Authority after the publication of its delayed half-year results last week. Home REIT (HOME), the […]
US quantitative investing pioneer Dimensional Fund Advisors has listed two of its systematic active exchange traded funds (ETFs) in London. The Dimensional Global Core Equity and Global Targeted Value Ucits ETFs will have sterling and dollar share classes on the London Stock Exchange and euro shares listed on Xetra in Germany. Dimensional, which has amassed […]
(Update) HICL Infrastructure (HICL) and The Renewables Infrastructure Group (TRIG) have announced plans to merge to create the UK’s largest listed infrastructure company with net assets of over £5.3bn. The move by £2.2bn HICL and £1.7bn TRIG, both managed by InfraRed Capital Partners, comes as they struggle to rerate shares stuck on wide discounts of […]
Castelnau (CGL), the £263m special situations fund run by Phoenix Asset Management Partners, jumped 7% on Friday after announcing the valuation of Valderrama, the company through which it owns undertaker Dignity, was expected to rise by 10%. The impact on Castelnau’s net asset value (NAV) should be of a “similar magnitude”, it said, given Valderrama […]
Worldwide Healthcare (WWH) has posted its best first half performance in two decades as the £1.5bn investment trust managed by Orbimed in New York looks to make a decisive break from the bear market and hostile politics that have afflicted its sector in the past three years. The diversified 49-stock portfolio, which is designed to benefit from all aspects of the global advance in healthcare spending, made a 5% return in […]
Saba Capital is to finally begin offloading some of its 26% stake in fellow activist Crystal Amber (CRS) after its fund manager Richard Bernstein said he would resign to pursue other ventures. The board of £95m Crystal Amber, which Saba forced into a lengthy wind-down four years ago, is in talks with Tarncourt Capital about appointing it as the new fund manager to run […]
