CQS Natural Resources Growth and Income (CYN) has confirmed that it has received a second notice from Saba Capital Management demanding another general meeting of shareholders. Once again, shareholders will incur the cost of defending against this attack by Saba (which CYN’s board says is without merit) that was launched without any prior engagement from […]
Ruffer Investment Company (RICA) says that Duncan MacInnes, co-manager of the fund, has left its manager with immediate effect and so, as of today, Alexander Chartres – a partner at Ruffer LLP – and Ian Rees will join the current portfolio manager Jasmine Yeo as managers of RICA’s portfolio. Jasmine has been co-manager of RICA […]
Following its announcement on 20 March 2024 that Jonathan Simon, one of its large cap portfolio managers responsible for value stocks, would retire in early 2025, JPMorgan American (JAM) says that it has now been advised that Mr Simon’s retirement will be effective 3rd March 2025. Following Jonathan’s retirement, Graham Spence will join Jack Caffery […]
In QuotedData’s morning briefing 12 January 2025 Asia Dragon (DGN) has announced the results of the elections for its combination with Invesco Asia Trust (IAT): 30.92% of shares opted for the rollover option while 69.08% of shares opted for the cash option, which was limited to 25% of the shares in issue (less shares held […]
Keystone Positive Change (KPC) has announced that it is relaunching its plans to liquidate the trust – offering shareholders the option of a cash exit at a 1% discount to the residual NAV or the opportunity to rollover into the Baillie Gifford Positive Change Fund (click here to see our coverage of the original proposals), […]
In QuotedData’s morning briefing 10 February 2025: Baker Steel Resources Trust (BSRT) has published a portfolio update and its NAV as at 31 January 2025 (89.1p per share), a decrease of 0.6% from the last published NAV at 31 December 2024, largely due to falls in the share prices of Tungsten West Plc and Metals […]
European Opportunities Trust (EOT) has released its interim results for the six months to 30 November 2024. During the period, EOT provided NAV and share price total returns of -8.4% and -10.6% respectively, compared with a total return of -3.3% for its benchmark, the MSCI Europe Total Return Index (all in sterling terms). EOT’s chair, […]
The boards of JPMorgan Global Growth & Income (JGGI) and Henderson International Income (HINT) have agreed terms for a merger of the two trusts under which it is proposed that HINT’s assets will be rolled into JGGI, with existing HINT shareholders receiving new JGGI shares in exchange. The announcement from the two trusts says that […]
In QuotedData’s morning briefing 7 February 2025: Ecofin US Renewables Infrastructure (RNEW) says that its AIFM and investment manager, Ecofin Advisors, LLC (Ecofin), has given it notice to terminate its investment management agreement. RNEW says that the manager and Board will work towards an orderly transition during the 12 month notice period. Residential Secure Income […]
In what is now the sixth successive defeat for Saba Capital Management in its bid to take control of seven London listed investment companies, shareholders in The European Smaller Companies Trust (ESCT) have voted down Saba’s proposals to remove all of the existing board and replace them with just two of its own representatives, by […]