This week, following recent results announcements from trusts such as Ruffer (RICA) (click here to read) and Golden Prospects Precious Metals (GPM) (click here to read), along with commentary in our August investment companies monthly (click here to read) that highlighted a number of funds that have been benefiting recently from their exposure to the […]
BlackRock Latin American (BRLA) has reported a sharp turnaround in the first half of 2025, with net asset value (NAV) rising 40.4% in US dollar terms and the share price up 41.7%, against a 29.9% return from its MSCI EM Latin America benchmark. Net assets increased from US$116m at the end of December 2024 to […]
Golden Prospect Precious Metals (GPM) has published interim results for the six months to 30 June 2025, reporting a significant uplift in both net asset value (NAV) and share price. Over the period, NAV rose 53.6% from 43.1p to 66.2p, peaking at 75.7p in early June, while the share price climbed 63.9% from 35.5p to […]
Polar Capital Global Healthcare (PCGH) has announced draft proposals for a corporate reorganisation ahead of its scheduled fixed life wind-up in early 2026. Following a review of options and consultation with shareholders, the board intends to seek approval for the company to continue, with a number of structural and fee changes designed to enhance long-term […]
Murray Income (MUT) has published annual results for the year ended 30 June 2025. The net asset value (NAV) total return was 2.7% (debt at fair value), with the share price rising 4.3%. Both fell well short of the FTSE All-Share’s 11.2% return, extending a multi-year period of relative underperformance. The board launched a strategic […]
JPMorgan Emerging Europe, Middle East & Africa Securities (JEMA) has provided an update on the ongoing lawsuit filed by VTB Bank in Russia. On 10 September 2025, the Russian court of appeal upheld the earlier judgment awarding $439m in damages to VTB against eight JP Morgan legal entities and the company. VTB is now expected […]
Swedish payments group Klarna – a portfolio company of Chrysalis Investments (CHRY) – has completed its long-awaited US initial public offering (IPO), with its shares priced at US$40 each, above the US$35–37 indicative range. The listing raised $1.37bn and values the company at around $15.2bn. Demand was reportedly strong, with the offering said to be […]
Fidelity Japan Trust (FJV) has reported a net asset value (NAV) total return of 3.3% for the six months to 30 June 2025, broadly in line with the TOPIX Total Return Index in sterling terms, which rose 3.2%. The trust’s share price delivered a total return of 10.6% as its discount narrowed from 13.1% to […]
Since the process began in January 2023, Starwood European Real Estate Finance (SWEF) has now returned £256m to investors, equivalent to 61% of its NAV at that time. £46m of this was distributed in the first half of 2025, supported by the full repayment of a £47.3m UK hotels loan. After the period end, two […]
Ruffer Investment Company (RICA) reported another month of positive NAV performance in August, driven primarily by gold mining equities. The manager said strong free cash flow generation at higher gold prices continues to provide attractive opportunities, even after the sector’s strong rally this year. Gold bullion resumed its upward trajectory during the month, hitting a […]
