The FCA has published its new consumer composite investment (CCI) rules, which are designed to govern how CCIs interact with investors. Effectively, this is the resolution that we have long been waiting for on cost disclosures. Many in the investment companies sector had lobbied for closed-end investment funds to be outside the scope of this […]
Edinburgh Worldwide (EWI) has issued a new statement as it hits back against Saba’s latest requisition notice. The board says that it recommends that shareholders take no action and await a further announcement from the company. The chair Jonathan Simpson-Dent had this to say:“Saba has for a second time launched a power grab calling for […]
In results for the 12 months ended 30 September 2025, the board of Schroder AsiaPacific (SDP) observes that the trust has delivered average annual NAV returns of 1.5% over the past 10 years – well ahead of the average 9.8% return on its benchmark. More recently, NAV returns have been marginally behind the index (+15.7% […]
Julian Cane, the well-regarded manager of CT UK Capital and Income (CTUK), plans to step down as manager of the trust with effect from 1 January 2026. He will be succeeded by Dominic Younger. Over Julian’s tenure, the NAV total return has been 535% and the share price return 567%. For contrast, the FTSE All-Share […]
PRS REIT (PRSR) has published a circular ahead of a liquidation vote planned for 5 January 2026. The sale of the trust’s portfolio is expected to complete on 11 December 2025. That means that the estimated amount available for distribution will be close to the NAV per share of 114.9p. If you are a shareholder […]
As one of the co-managers, Spencer Adair, approaches his retirement next March, Monks Investment Trust’s (MNKS) interims to end October 2025 show it outperforming the World Index in NAV terms and benefitting from a narrowing of its discount. The NAV return for the period was +29.2% and for the share price +35.2%, which both compare […]
Based on its weighting within the MSCI All Countries World Index, Japan is the world’s second-largest stock market after that of the US. However, for many decades it was a hard place to make money. Factors such as low to no economic growth, an ageing and shrinking workforce, deflation, zero interest rates, and poor corporate […]
Murray Income (MUT) is in the middle of a strategic review that began in July and the board says should come to a conclusion in the fourth quarter. It has assets of about £925m, so that makes it a decent prize. I would expect that it has been inundated with all sorts of proposals. The […]
Oakley Capital Investments (OCI) generated a 7.1% underlying investment return in the first half of 2025. QuotedData’s James Carthew said: “Six months isn’t long but these numbers make Oakley Capital Investments the best-performing private equity trust over the past six months and have allowed it to extend its lead over rival HgCapital over five years […]
Henderson European (HET) says that holders of 89.775m shares opted for cash (29.04% of its share capital) and 219.332m shares were rolled into Fidelity European (FEV). The cap on the cash option was 33.3%, so everyone who wanted cash will get it. Henderson European will delist on 26 September. Having decided to hang onto all […]
