US Solar Fund (USF), the £107m Amber Infrastructure managed fund standing on a 45% discount, has provided detailed disclosure on the technical, non-weather factors resulting in third quarter generation falling 13.3% below forecast, with just 2.1% due to below forecast solar irradiance. It said the majority of the 11.2% technical variance was attributable to the […]
US fund management giant T Rowe Price plans to expand its active ETF business into Europe next year. The Baltimore-based group, which has 1.8trn total assets, told ETF Stream: “Following the success and steady expansion of our ETF offerings in the US, we are now scoping the potential to launch European-listed active ETFs in the […]
Gore Street Energy Storage (GSF) has disappointed shareholders in the international battery fund with a 12.4% drop in net asset value (NAV) and a half-year dividend that fell short of expectations. For the six months to 30 September, NAV per share fell 12.7p from 102.8p to 90.1p, below the 97.6p it had in June 2018 […]
Activist investor Metage Capital has increased the pressure on private equity fund Pantheon International (PIN) to buck up its capital allocation programme, demanding it sell at least £500m, or 22%, of its portfolio to fund share buybacks. In an open letter to the investment trust’s board, London-based Metage, holder of 4.78m PIN shares, a 1.1% […]
Shares in Abrdn European Logistics Income (ASLI) have tumbled after an 18% shareholder demanded a halt to its wind-down which it claimed was damaging to investors and the stock traded ex-dividend ahead of a return of capital. Polish logistics developer DL Invest has called for a general meeting of shareholders to halt the further sale […]
Taylor Maritime (TMI), the former shipping fund that sailed out of the investment companies sector in January, is to make a bumper $143.4m (£107m) return of capital to shareholders early next year. The $287m dry bulk fleet operator’s distribution of half its market value will come with a quarterly dividend of 8 cents per share […]
Brunner (BUT) has a new co-lead manager at Allianz Global Investors with James Ashworth promoted to work alongside Julian Bishop who has run the global portfolio with Christian Schneider, chief investment officer for global growth at AGI, for three years. Schneider will continue to support the team as a deputy manager alongside Merchants (MRCH) manager […]
Ecofin Global Utilities and Infrastructure (EGL) is to lift dividends by 5.9% after a morale-boosting second half recovery helped pushed its annual return to 15%. The £223m investment trust’s growth in net asset value (NAV) in the year to 30 September compared well to its two main performance benchmarks. It was just behind the 15.4% […]
BlackRock Frontiers (BRFI), the £338m investor in sub-emerging and smaller emerging countries, beat its benchmark in the year to 30 September, putting it in a good position ahead of a five-yearly 100% exit opportunity in February. Fund managers Sam Vecht and Emily Fletcher delivered a 15.1% total underlying return in dollars (14.7% in sterling) that […]
Update with Baillie Gifford response: Saba Capital boss Boaz Weinstein has attacked Baillie Gifford for reducing the positions held in SpaceX by Edinburgh Worldwide (EWI) and Baillie Gifford US Growth (USA) investment trusts. Tweeting on X, Weinstein said he had received calls from “furious” shareholders in both trusts, where Saba holds around 30%, amid reports […]
