Schiehallion (MNTN), the £890m Baillie Gifford growth capital fund, cleared its path for a main market listing tomorrow with 98% of shareholder votes in favour of changes to its articles of association and the issue of restricted voting “B”-shares. Proxy vote adviser ISS had questioned the new share class on corporate governance grounds, but a […]
Molten Ventures (GROW) has taken £17.5m in gains from ICEYE, the Finnish satellite operator which it says recently secured a €2.4bn (£2.1bn) valuation in a €150m fund raising. The £856m investor in unquoted, high growth technology companies said after the partial realisation its remaining holding in ICEYE is worth around £85m, up from £74m at […]
Baillie Gifford Shin Nippon (BGS) will provide shareholders with a 100% exit opportunity in five years’ time under a revision to the tender offer plan announced last year. The board of the poorly-performing Japanese smaller company growth fund said the original plan for a 15% tender offer did not give its new fund managers sufficient […]
The Association of Investment Companies (AIC) and cost disclosure campaigners have welcomed the City regulator’s confirmation that UK-listed closed-end funds will have the flexibility to present their expenses clearly and fairly under new “consumer composite investments” (CCI) rules coming in 18 months’ time. Responding to the huge level of feedback from 115 investment companies and […]
November, a month of fireworks, saw explosive gains from several investment companies but other London-listed funds fizzled out with big falls. Amid all the noise, there were several significant moves in share price ratings. Best performing investment companies November’s biggest share price risers (left) and biggest gainers in net asset value (right). Fund Share price […]
BlackRock World Mining (BRWM) has sold its BHP Brazil Royalty Contract to Gold Royalty Corp for $70m, at a 105% premium over the current value of $34.1m. The uplift boosts the investment trust‘s net asset value (NAV) by 1.8% which will be reflected in tomorrow’s daily NAV statement. The company will also receive all revenue […]
The board of SDCL Efficiency Income (SEIT) has warned it may not recommend shareholders vote for the company’s continuation next year after a six-month period that has seen debt levels jump above a 65% limit, partly after a small fall in its portfolio, and its shares continue to trail on a steep discount to net […]
Annual results from Schroder European Real Estate highlight the challenges for incoming chair Phil Redding and fund manager Jeff O’Dwyer, Custodian Property Income reports good half-year results and self-storage group Big Yellow confirms takeover talks with Blackstone have ended. Schroder European Real Estate (SERE), the £83m listed property fund weighed down by a French tax […]
Barings Emerging EMEA Opportunities (BEMO) is hiking dividends and streamlining its investments as the £87m investment trust looks to win back the large minority of disaffected shareholders who voted against the company’s continuation in October. Outgoing chair Frances Daley said BEMO had delivered an “outstanding” annual result with a 28.3% investment return for the year […]
Is a 49% share price discount a bargain or a deterrent? Augmentum Fintech (AUGM) made some inroads arguing the former today (Tuesday) as its shares gained 3p, or 3.7%, to 84.8p following encouraging half-year results. They went on to stand at 89.1p on Friday, up 9% on the week, reducing the discount to 44% after […]
