Lockdowns are beginning to ease across Europe. Along with this, news over the weekend that China would lower real lending rates, has pushed stocks higher this morning. In a quarterly update to 31 March, private equity sector company, HgCapital Trust (HGT), delivered a total NAV return of (6.2%). In it’s outlook statement, HGT noted: “We […]
Aberdeen Latin American Income (ALAI) reported interim results to 29 February 2020, with NAV total returns and the the shares declining by 8.0% and 8.2%, respectively. This was after a strong period of performance over the year-ending 31 August 2019 (you can read more here). Richard Prosser, ALAI’s chairman, said: “Latin American equities retreated, underperforming […]
Fidelity European Values (FEV) has delayed changing its name to Fidelity European Trust, which was expected to be completed in time to be effective from 12 May. FEV noted: “The impact of covid-19, and the resultant Government’s stay at home measures, have caused substantial and significant delays as well as disruption to the usual statutory […]
M&G Credit Income (MGCI) has announced that lead fund manager, Jeremy Richards, will shortly leave the company for personal reasons. His position will be taken by Adam English, who is currently deputy fund manager. In a statement, the company said: “The board is grateful to Jeremy for his work on the portfolio since inception and is delighted […]
Polar Capital Global Financials (PCFT) has announced that it expects to declare dividends for the current year, at levels equivalent to last year, in due course. The news will be well received by shareholders, who last month voted to indefinitely extend PCFT’s life. Distributable reserve facet of investment trusts to allow PCFT to support dividend at […]
Some encouraging signs from around the world, with countries ranging from Italy, Portugal, Thailand and Nigeria, beginning to ease lockdowns. NB Private Equity Partners (NBPE) agreed with Massachusetts Mutual Life Insurance Company to increase the existing credit facility by $50m to $300m. Downing Strategic Micro-Cap (DSM) reported annual results to 29 February 2020, with the […]
Third Point Offshore Investors (TPOU), the events-driven bottom-up-focused hedge fund managed by Daniel S. Loeb’s Third Point LLC, focuses on four strategies where it believes it has a competitive advantage in markets: activist and governance-focused investments; credit securities; short selling; and identifying emerging compounder securities. . Long equity positions lead returns while exposure to Argentine default detracts […]
Over the six-month period ended 31 January 2020, the NAV of Fidelity Asian Values (FAS) fell by 13.2%, compared with a decline of 3.6% for the MSCI all countries Asia ex Japan index total return. Over the same period, the company’s share price decreased by 15.0%. The company performed poorly before the covid-19 outbreak. Exposure […]
Acorn Income (AIF), the UK-focused small-cap equity and fixed-income trust, released its annual performance figures today. Over the year to 31 December 2019, AIF delivere a total return on gross assets, which measures the return on the portfolio including all income and costs, amounted to 19.2%, while the total return on net assets, enhanced by […]
Barclays reported first quarter results this morning. It announced a sharp increase in its provisions for bad loans, anticipating a series of defaults from its corporate and retail clients. British Airways is to reduce its workforce of 42,000 by nearly 30%. Its parent company, IAG, does not expect passenger numbers to return to 2019 levels […]
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