The UK’s beleaguered listed battery storage sector has found itself thrust back into the spotlight this week after a group of funds, controlled by Foresight Group, launched a surprise bid for Harmony Energy Income Trust (HEIT). The Foresight funds’ bid trumps a previous bid from Drax Group for HEIT at 88p per share. Drax’s offer […]
Pacific Horizon Investment Trust (PHI) has announced plans to introduce a performance-linked conditional tender offer that could see up to 25% of its issued share capital (excluding treasury shares) repurchased, depending on how the trust performs over the next five years. The proposed tender offer, due to be assessed at the end of a performance […]
abrdn Diversified Income and Growth (ADIG) has announced the commencement of a secondary sales process to accelerate the realisation of its remaining private markets portfolio. The company has appointed Campbell Lutyens as an independent broker to lead the process, which the board believes will optimise value and support the trust’s managed wind-down. The decision follows […]
ICG Enterprise Trust (ICGT) has announced the realisation of its investment in Minimax, a global fire protection systems provider, generating cash proceeds of €53m (£45m). The sale was completed in line with the last reported NAV, and proceeds have now been received. ICGT first backed Minimax in 2018 via primary commitments to ICG Europe VI […]
BlackRock Frontiers – co-manager Niaz steps down BlackRock Frontiers Investment Trust (BRFI) has announced changes to its portfolio management line-up following a wider restructure of BlackRock’s Global Emerging Markets (GEM) team. The shake-up, which aims to improve investment focus and better align portfolio responsibilities with areas of expertise, will see Sudaif Niaz – co-manager since […]
In QuotedData’s morning briefing 16 April 2025: [QD comment MR: It is encouraging to see a director of MTU investing money into the trust as it not only helps improve alignment with other shareholders but shows confidence in the strategy at a time when the trust continues to trade on a notable discount to NAV […]
Gore Street Energy Storage Fund (GSF) has agreed the sale of investment tax credits (ITCs) tied to its Dogfish project in Texas, securing gross proceeds of approximately £18–19m. The transaction is expected to close by the end of June 2025, with funds to be received shortly thereafter. The pricing aligns with previous guidance of $60–80m […]
Rockwood Strategic (RKW) has published a short trading update ahead of full-year results for the 12 months to 31 March 2025, with the small-cap specialist continuing its strong run of outperformance. During the period, RKW delivered a NAV total return of 21.1% to 248.79p per share, significantly outpacing its AIM All-Share benchmark, which it says […]
In QuotedData’s morning briefing 14 April 2025: [MR comment: Schroder Japan continues to demonstrate the value of active, high-conviction investing in an inefficient but improving market. With Japan’s long-awaited re-rating story still playing out, SJG and its peers look well-positioned to benefit as the market wakes up to the fundamental changes underway in corporate Japan. […]
Polar Capital Global Financials Trust (PCFT) has shared further details around the future of the company, including the structure of its upcoming 2025 tender offer, proposed changes to fees and dividend policy, and the conditions for its continuation as a listed vehicle. At the company’s AGM held yesterday, chair Simon Cordery confirmed that PCFT will […]
