Ruffer Investment Company (RICA) reported a positive return for the year ended 30 June 2026, as strong contributions from equities and precious metals outweighed the cost of maintaining portfolio protection in what the manager described as another year dominated by AI enthusiasm and geopolitical uncertainty. The trust generated a NAV total return of 4.6% over […]
Veteran UK equity investor James Henderson is to retire from Janus Henderson in June 2027, bringing to a close a 44-year career in fund management and ending one of the longest-running tenures in the UK investment trust sector. The retirement will see Laura Foll succeed Henderson as lead manager of both Law Debenture (LWDB) and […]
Home REIT (HOME) is facing further litigation from a commercial dispute with its former financial adviser, Smith Square Partners, which is seeking £1.62m plus interest and costs over an alleged unpaid contractual fee linked to the company’s portfolio disposal programme. Smith Square, which was appointed in February 2023 following the resignation of Home REIT’s brokers […]
Shareholders of Workspace Group (WKP) overwhelmingly voted in favour of the re-election of its current board members at its annual general meeting (AGM) today, and against the appointment of Saba’s nominees. Excluding the shares voted by Saba, which is Workspace’s largest shareholder with a 29.1% holding, the lowest number of votes cast in favour of […]
Prologis has raised its takeover proposal for SEGRO (SGRO), submitting what it described as its “best and final” offer valuing the UK logistics property company at around £14bn while asking for more time to negotiate a recommended deal. The revised proposal increases the share exchange ratio to 0.0920 new Prologis shares for each SEGRO share […]
The newly appointed board of Impax Environmental Markets (IEM), elected following Saba Capital’s successful campaign to replace the trust’s previous directors in June, has moved swiftly to terminate the trust’s investment management agreement with Impax Asset Management. The current manager has a contractual 12-month notice period, but the board has asked Impax Asset Management to […]
Prologis has raised its takeover proposal for SEGRO (SGRO), introducing a £2.7bn partial cash alternative as part of a third proposal that values the UK warehouse landlord at around £13.5bn. The US logistics property group’s latest proposal, submitted on 16 July and rejected by SEGRO’s board the following day, offers shareholders 0.0890 new Prologis shares […]
The board of Alternative Income REIT (AIRE) says it is assessing the terms of AEW UK REIT’s (AEWU) possible offer for the company, which was made last week and valued the company at 77.4p. This represented a premium of around 10.6% to the 70.0p offer made by its largest shareholder Glenstone. AIRE’s board says that […]
LondonMetric Property (LMP) and Schroder REIT (SREI) have increased their offer for Picton Property (PCTN) by 0.8%. The consortium announced a revised exchange ratio on SREI’s portion of the deal to 0.894 new SREI shares per PCTN share from 0.881. The LMP exchange ratio of 0.190 is unchanged. This has had the effect of increasing […]
Real estate share price risers and fallers in June were heavily influenced by M&A announcements, which continue to dominate the listed property landscape following four years that has seen the sector halve in number. Overall, the sector was up 1.5% on average in June and was up 4.5% in the quarter. The war in Iran […]
