Overview
CQS Natural Resources Growth and Income (formerly City Natural Resources High Yield Trust) seeks to provide shareholders with capital growth and income predominantly from a portfolio of mining and resource equities and of mining, resource and industrial fixed interest securities. CQS Natural Resources Growth and Income invests predominantly in mining and resource equities and mining, resource and industrial fixed interest securities (including, but not limited to, preference shares, loan stocks and corporate bonds, which may be convertible and/or redeemable).
You can access the fund’s website here
Fundamentals
Price
Research History
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08 May 2024 28 min read
CQS Natural Resources Growth and Income – Poised for the starting gun
CQS Natural Resources Growth and Income Investment Companies | Annual overview | 8 May 2024 Poised for the starting gun Following a very strong period of outperformance for commodities and natural resources, the last 18 months have been more challenging. However, barring the odd wobble, inflation and interest rates look to be past their peaks. […]
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28 min read
CQS Natural Resources Growth and Income – Poised for the starting gun
CQS Natural Resources Growth and Income Investment companies | Annual overview | 8 May 2024 Poised for the starting gun Following a very strong period of outperformance for commodities and natural resources, the last 18 months have been more challenging. However, barring the odd wobble, inflation and interest rates may be past their peaks. This […]
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29 min read
CQS Natural Resources Growth and Income – Poised for the starting gun
CQS Natural Resources Growth and Income Investment companies | Annual overview | 8 May 2024 Poised for the starting gun Following a very strong period of outperformance for the commodities and natural resources sector, the last 18 months have been more challenging. However, barring the odd wobble, inflation and interest rates look to be past […]
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17 Oct 2023 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2023
Third quarter of 2023 Investment Companies | Quarterly roundup | October 2023 Kindly sponsored by abrdn ‘Uncomfortable’ Following a fast start to the first half of the year, globally equities took a breather in Q3, as markets assessed the implications of the worst bond sell-off in a generation. Yields on 10-year US treasuries and UK […]
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06 Apr 2023 82 min read
QuotedData’s Economic and Political Monthly Roundup April 2023
Economic and Political Monthly Roundup Investment companies | Monthly | April 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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03 Nov 2022 8 min read
QuotedData’s Investment Companies Roundup – November 2022
Investment Companies Monthly Roundup Kindly sponsored by Baillie Gifford and abrdn November 2022 Monthly | Investment companies Winners and losers in October 2022 Many equity markets recovered some of the ground lost in September. The swift departure of Liz Truss and her unfunded tax cuts helped the UK stock market and sterling. North America […]
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50 min read
QuotedData’s Economic and Political Monthly Roundup November 2022
Economic and Political Monthly Roundup Investment companies | Monthly | November 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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03 Dec 2021 1 min read
Interview with Rob Crayfourd from CQS Natural Resources Growth & Income
In this week’s show, Matthew Read talked to Rob Crayfourd from CQS Natural Resources Growth & Income If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us. Additionally, if […]
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14 Apr 2021 26 min read
CQS Natural Resources Growth and Income – Burnished copper
Burnished copper CQS Natural Resources Growth and Income (CYN) has provided exceptionally strong absolute and relative performance during the last 12 months, and has markedly outperformed its peer group. A key driver of this has been the managers’ preference for base metals, with significant exposure to copper being a major contributor. The managers believe that, […]
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27 min read
CQS Natural Resources Growth and Income – Burnished copper
Burnished copper CQS Natural Resources Growth and Income (CYN) has provided exceptionally strong absolute and relative performance during the last 12 months, and has markedly outperformed its peer group. A key driver of this has been the managers’ preference for base metals, with significant exposure to copper being a major contributor. With supply struggling to […]
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27 min read
CQS Natural Resources Growth and Income – Burnished copper
Burnished copper CQS Natural Resources Growth and Income (CYN) has provided exceptionally strong absolute and relative performance during the last 12 months, and has markedly outperformed its commodities and natural resources peer group. A key driver of this has been the managers’ preference for base metals, with significant exposure to copper being a major contributor. […]
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10 Aug 2020 7 min read
QuotedData’s Investment Companies Roundup – August 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over July: Seneca Global Income & Growth – […]
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14 Jul 2020 9 min read
QuotedData’s Investment Companies Quarterly Review – Second Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit When the going gets […]
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23 Jun 2020 21 min read
CQS Natural Resources Growth and Income – Recovery on-hold, hold on
Recovery on-hold, hold on The managers of CQS Natural Resources Growth Income Trust (CYN) say that the covid-19 pandemic has delayed, rather than ended, the recovery they were seeing in the mining sector. After sharp falls in March, share prices have recouped some of their losses, but the managers believe there is much more to […]
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21 min read
CQS Natural Resources Growth and Income – Recovery on-hold, hold on
Recovery on-hold, hold on The managers of CQS Natural Resources Growth Income Trust (CYN) say that the pandemic has delayed, rather than ended, the recovery they were seeing in the mining sector. After sharp falls, April and May have seen share prices recoup some of their losses, but the managers believe there is much more […]
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07 May 2020 8 min read
QuotedData’s Investment Companies Roundup – May 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over April: An update note […]
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10 Mar 2020 7 min read
QuotedData’s Investment Companies Roundup – March 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over February: An initiation note on Montanaro UK Smaller Companies Trust (MTU) […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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12 Nov 2019 1 min read
QuotedData’s economic roundup – November 2019
Economic & Political Roundup
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12 Jul 2019 6 min read
Quarterly investment companies roundup – Second quarter 2019
Quarterly investment companies roundup – Second quarter 2019 QuotedData news Global equities re-found momentum in June after a cautious April and May. How much longer this ten-year bull market can sustain itself continues to be the subject of much debate. The prospect of interest rate cuts in the US has re-invigorated sentiment for the time […]
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11 Jun 2019 27 min read
CQS Natural Resources Growth and Income – Strong recovery potential?
CQS Natural Resources Growth and Income’s (CYN’s) managers believe the mining sector is only in the early stages of a recovery; real demand for commodities is on an upwards trend; and a reduction in capex has seen capacity removed from the market. If they are correct, all of these should be supportive of higher commodity […]
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27 min read
CQS Natural Resources Growth and Income – Strong recovery potential?
CQS Natural Resources Growth and Income’s (CYN’s) managers believe the mining sector is only in the early stages of a recovery; real demand for commodities is on an upwards trend; and a reduction in capex has seen capacity removed from the market. If they are correct, all of these should be supportive of higher commodity […]
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19 Dec 2018 1 min read
QuotedData’s investment companies roundup – December 2018
QuotedData’s investment companies roundup – December 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2018. Kindly sponsored by Baillie Gifford. Extract from ‘winners and losers’ The Californian wildfires took their toll on CatCo Reinsurance as it […]
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13 Nov 2018 1 min read
QuotedData’s economic roundup – November 2018
QuotedData’s economic roundup – November 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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15 Aug 2018 1 min read
QuotedData’s investment companies roundup – August 2018
QuotedData’s investment companies roundup – August 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in July Tritax EuroBox raised its maximum target of £300 million in an […]
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
QuotedData investment companies roundup – January 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2017. Kindly sponsored by Baillie Gifford. January Investment Companies Roundup Winners and losers in December Infrastructure India’s share price […]
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12 Oct 2017 1 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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10 Apr 2017 1 min read
QuotedData’s round up of views on the global economy – April 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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13 Oct 2016 1 min read
QuotedData’s round up of views on the global economy – October 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. october-economic-and-political-roundup
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1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
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08 Dec 2014 1 min read
Commodities & Natural Resources
Specialist Commodities and Natural Resources Please click on the link above for the first of what will be a regular series of articles focusing on a particular area of the investment companies market. This month the theme is the Specialist Commodities and Natural Resources sector.
News
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19 Dec 2024 3 min read
Trusts acknowledge Saba requisitions – aim to see off vulture investor
Baillie Gifford US Growth says: “The board considers these proposals to be fundamentally without merit, and in contravention of shareholder interests as a whole. A further announcement will be made in due course by the company accordingly, relating to the posting of a notice of a general meeting and an accompanying circular in which the […]
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18 Dec 2024 10 min read
Saba Capital launches campaign “to deliver value” to shareholders of seven UK-listed investment trusts
Saba Capital Management has announced that it has requisitioned the boards of directors of Baillie Gifford US Growth Trust USA), CQS Natural Resources Growth & Income (CYN), Edinburgh Worldwide Investment Trust (EWI), European Smaller Companies Trust (ESCT), Henderson Opportunities Trust (HOT), Herald Investment Trust (HRI) and Keystone Positive Change Investment Trust (KPC) to convene general […]
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24 Oct 2024 3 min read
CQS City Natural Resources benefits from substantial discount narrowing
CQS Natural Resources Growth and Income has published results for the year ended 30 June 2024. It delivered an NAV total return in the year under review of 7.2%. This is similar to the return of 7.3% produced by the MSCI World Metals and Mining Index (sterling adjusted) but lagged the 17.4% return from the […]
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22 Jul 2024 3 min read
QuotedData’s morning briefing 22 July 2024 – CYN, BPCR, ONWD, TMI, BCPT
In QuotedData’s morning briefing 22 July 2024: CQS Natural Resources Growth and Income (CYN) has declared its fourth interim dividend of 1.82p per share for the year ended 30 June 2024 (2023: 1.82 pence per share). It has also declared an additional special interim dividend of 1.00p per share, reflecting the fact that underlying core […]
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04 Apr 2024 1 min read
QuotedData’s morning briefing 4 April 2024 – CYN, GPM, NCYF, GCL
In QuotedData’s morning briefing 4 April 2024: Manulife’s acquisition of CQS is now complete. There are no planned changes to the management teams of Golden Prospect (GPM), Geiger Counter (GCL), CQS New City High Yield (NCYF), and CQS Natural Resources Growth & Income (CYN). The manager’s business will be rebranded as Manulife | CQS Investment […]
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16 Nov 2023 2 min read
QuotedData’s morning briefing 16 November 2023 – BSIF, SYNC, PSH, GCL, NCYF, GPM, CYN, NRR, GPE
In QuotedData’s morning briefing 16 November 2023: Bluefield Solar (BSIF) reports that its NAV fell by 3.3p over the third quarter of 2023. The main contributing factors to this were slight underperformance in generation during the quarter, due to lower than expected irradiation, and advanced quarterly payments connected to corporation tax and the Electricity Generator […]
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23 Oct 2023 3 min read
CQS Natural Resources sees a major rise in its dividend
CQS Natural Resources (CYN) has released its annual results for the 12 month period ending 30 June 2023. Over the period CYN reported a NAV total return of 3.5% and share price total return of -0.2%, which compares to a 6.3% return of its composite benchmark, a blend of the EMIX Global Mining Index and […]
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15 Sep 2023 4 min read
QD view – Opportunities in commodities?
From April 2020 to June 2022, the energy transition and the war in Ukraine combined to generate a significant surge in commodity prices. Since then, commodities have struggled, weighed down by the weakness of China’s economic recovery and mixed economic data across the globe. More recently, however, they have started to tick higher once again. […]
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23 Aug 2023 1 min read
QuotedData’s morning briefing 23 August 2023 – RSE, CTPE, CYN, HOME
Riverstone Energy Limited (RSE) announced that it has entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. CT Private Equity Trust (CTPE) announced its results for the half year ended 30 June 2023. Share price total return for […]
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23 Mar 2023 3 min read
QuotedData’s morning briefing 23 March 2023
In QuotedData’s morning briefing 23 March 2023: Gulf Investment Fund (GIF) has launched its latest 100% tender offer. Shares that are tendered will be put into a realisatin pool on 12 April, the pool liquidated and the proceeds (less about $100,000 of expected tender offer costs) returned to shareholders. There is a minimum size threshold […]
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04 Nov 2022 1 min read
QuotedData’s weekly news show 4th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Atrato Onsite Energy • CQS Natural Resources Growth and Income • Princess Private Equity This week’s interview was with Jason Baggaley from abrdn Property […]
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01 Nov 2022 4 min read
Timely switch helps CQS Natural Resources to bumper year
CQS Natural Resources Growth and Income has published results for the 12 months ended 30 June 2022 and they are good, very good. Over the period, the trust generated a return on NAV of 20.6% and a return to shareholders of 14.7%, both way ahead of a 1.0% return on the trust’s composite benchmark (the […]
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13 Oct 2022 1 min read
Fund Brief: CQS Natural Resources Growth & Income plc (CYN)
About CQS Natural Resources Growth & Income plc The Company invests predominantly in mining and resource equities and mining, resource and industrial fixed interest securities (including, but not limited to, preference shares, loan stocks and corporate bonds, which may be convertible and/or redeemable). To watch the Fund Manager Brief: Craig Cleland, CQS video, click here. […]
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11 Mar 2022 2 min read
QuotedData’s morning briefing 11 March 2022
In QuotedData’s morning briefing 11 March 2022: CQS Natural Resources Growth and Income (CYN) has announced its interim results for the six months ended 31 December 2021. CYN’s chairman, Richard Prickett says that, during the period, commodity markets were strong and interestingly for the sector higher interest rate expectations are supporting a broad market rotation […]
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04 Mar 2022 5 min read
QD view – Feeling resourceful?
I started writing this article a week ago – the day before Russia launched its invasion of Ukraine. With the events unfolding in Eastern Europe and a harsh increase in sanctions a foregone conclusion, I pressed pause on looking at the commodities and natural resources sector to focus on the immediate impact on trusts with […]
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28 Oct 2021 5 min read
CQS Natural Resources Growth & Income shoots the lights out in turnaround year
CQS Natural Resources Growth & Income shoots the lights out in turnaround year – CQS Natural Resources Growth & Income (CYN) has posted its full results for the year to 30 June 2021. During the period under review, its NAV increased by 83.1% while its share price was up by 109.6%. This compares with its […]
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01 Oct 2021 4 min read
QD View – Energy crisis, opportunity in uncertainty
The drivers that have led to the current energy crisis have been clearly visible for some time and reflect a number of long-term structural challenges that we face. Chief amongst these is climate change and the need to decarbonise but related to this are issues of energy security; the intermittency of renewables; battery technology that […]
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16 Apr 2021 3 min read
QD view – Money worries
This week I was fortunate to attend a seminar organised by Aberdeen Standard Investments (ASI) on inflation. The speakers included Iain Pyle, who is the manager of Shires Income, which we have written about a few times, and Nalaka de Silva, manager of Aberdeen Diversified Income & Growth, who we had on the weekly show […]
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19 Mar 2021 5 min read
CQS Natural Resources Growth & Income delivers stellar recovery
CQS Natural Resources Growth & Income (CYN) has announced its interim results for the six-months ended 31 December 2020, which show that it delivered a stellar recovery in the second half of its financial year. CYN provided an NAV total return for the six months to 31 December 2020 of +47.1% which compares to an […]
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09 Sep 2020 3 min read
Gold exposure provides a buffer in tough year for CQS Natural Resources Growth & Income
Over CQS Natural Resources Growth & Income’s (CYN) annual results period to 30 June 2020, the company returned (10.6%) and (5.9%) in total NAV and share returns. In the sections that follow, we include commentary from the fund’s managers, Ian Francis, Keith Watson, Rob Crayford, on precious metals, base metals and gold. Precious metals – ‘Low […]
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15 Oct 2019 6 min read
CQS Natural Resources Growth & Income’s strong precious metals weighting a silver lining
CQS Natural Resources Growth & Income’s strong precious metals weighting a silver lining – The year to 30 June 2019 was challenging for CQS Natural Resources Growth & Income (CYN). At the financial year-end, the NAV was down 13.9% year-on-year. The company says that since the end-of-the-period, it has outperformed peers, with its exposure to precious metals […]
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10 Dec 2018 1 min read
City Natural Resources High Yield become CQS Natural Resources Growth and Income
City Natural Resources High Yield Trust Plc has announced that, following shareholder approval at its AGM on 5 December 2018, it has changed its name to CQS Natural Resources Growth and Income Plc. The change takes place with immediate effect. The trust’s ticker (CYN) remains unchanged. The trust formerly known as City Natural Resources High […]
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26 Oct 2018 1 min read
City Natural Resources tops up dividend from capital
City Natural Resources tops up dividend from capital – City Natural Resources High Yield Trust has published results for the year ended 30 June 2018. Its NAV return over the year was 12% – 5.4% behind the return on its benchmark. A widening of the discount left shareholders with a return of 9.9%. The dividend was maintained […]
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12 Mar 2018 1 min read
City Natural Resources revamp includes change of name
City Natural Resources revamp includes change of name – City Natural Resources has just published its interim results. The announcement contains the results of review that the fund’s board has undertaken as the fund’s CULS approach maturity. Dividends from capital The Board believes that the level of dividends paid has been a key feature in […]
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28 Sep 2017 1 min read
City Natural lags benchmark, ETF to blame?
City Natural lags benchmark, ETF to blame? – City Natural Resources says that on 30 June 2017 its net asset value stood at 132.7p, giving a net asset value total return for the year of 7.9%. The benchmark index returned 17.7%. The shares returned 17.8% as the discount narrowed from 22.7% to 17%. This year’s […]
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13 Mar 2017 4 min read
City Natural Resources beats benchmark and experiences strong narrowing in its discount
City Natural Resources High Yield Trust has announced its interim results for the six months ended 31 December 2016. During the period, the Trust provided an NAV total return of 19.4%, thereby outperforming its benchmark index, which the company says returned 18.8%. The Trust’s share price total return was 30.8% was better than the NAV […]
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30 Sep 2016 1 min read
City Natural Resources lags benchmark
City Natural Resources has published results for the year ended 30 June 2016. At 30 June 2016 your Company’s net asset value stood at 127.4 pence per share, giving a net asset value total return for the year of 10.7 per cent. The benchmark index returned 14.2 per cent. The Company’s ordinary share price total […]
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18 Apr 2016 1 min read
Best and worst performing investment trusts: Unloved commodity, Brazil and Russia funds finally come good
Recovery in commodity prices has boosted investment trusts specialising in the sector Investors also hoping for Brazil revival if leader Dilma Rousseff is ousted Biotech and healthcare hit by fears Democrat party will squeeze drug prices if they win the US http://www.thisismoney.co.uk/money/investing/article-3542148/Unloved-commodity-Brazil-Russia-funds-finally-come-good.html
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02 Mar 2016 1 min read
City Natural Resources benefits from narrowing discount
City Natural Resources has published interims for the six months ended 31 December 2015. The Chairman’s statement opens thus: “It is five years since I last wrote to you with unqualified good news and I am very much afraid that the six months under review continues what has been a dismal run, with no let-up […]
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21 Dec 2015 3 min read
Henderson Alternative Strategies sees performance pick up in second half
Henderson Alternative Strategies Trust has announced its annual results for the year ended 30 September 2015. During the period, the Company delivered a NAV total return of -5.0% compared with a 0.8% rise in its FTSE World Total Return Index global equity benchmark. However, the board say that they are very encouraged to see that […]
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26 Oct 2015 1 min read
Will Smith leaving CQS
City Natural Resources’ investment manager, CQS (UK) LLP, has informed the Board that Will Smith, co-manager of the Company’s investments, will be leaving CQS/New City Investment Managers. Will’s co-management responsibilities have been passed to Keith Watson and Robert Crayfourd with immediate effect. Accordingly, the Company’s investments will be co-managed by Ian Francis, Keith Watson and Robert […]
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16 Sep 2015 2 min read
A difficult year for City Natural Resources
City Natural Resources High Yield Trust has released its annual results for the year ended 30 June 2015. These show that, during the period, the trust provided an NAV total return of -20.9% thereby underperforming its benchmark (a composite of the Credit Suisse High Yield and HSBC Mining indices), which returned -14.9%. Arguably reflecting market […]
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22 Jul 2015 1 min read
Discount trends, big names big prices
http://www.moneyobserver.com/news/21-07-2015/discount-trends-big-names-big-prices Investment trusts with big name managers saw their share prices soar over the second quarter as investors sought out the best active management.
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26 Feb 2015 1 min read
City Natural suffers as commodities fall
City Natural Resources’ net asset value fell by 19.3% to 125.9p over the course of 2014. By contrast their benchmark index (a composite of 2/3 the Euromoney Global Mining Index and 1/3 the Credit Suisse High Yield Index) fell by 9.7% (with the mining index falling by 15.5% and the high yield index rising by 5.7%). […]
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29 Sep 2014 1 min read
City Natural Resources High Yield up but underperforming
CYN : City Natural Resources High Yield up but underperforming City Natural Resources High Yield results for the year that ended on 30 June 2014 show a total return of 1.4% and a return to shareholders of 2.2% but the benchmark returned 6.1%. The dividend for the year was 5.6p, a 1.8% increase over the […]
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28 Feb 2014 1 min read
City Natural Resources : CYN – interims
The second half of 2013 was not kind to City Natural Resources whose net asset value fell by 6.7% while its benchmark delivered a positive 3.1% return. CVYN’s discount widened and the share price total return was -8.3%. The managers’ report does not mention any stock specific reasons for the poor performance
Upcoming Events
Videos
In The Press
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19 Dec 2024 1 min read
Why one US hedge fund is taking aim at the UK’s biggest investment trusts
By: Elliot Gulliver-Needham, Investment Reporter, CityAM, 19 December 2024: A shake up could be coming for the UK’s investment trust industry after US hedge fund Saba Capital launched a campaign to topple the boards of seven different companies yesterday.. The New York-based hedge fund has been stalking the sector for some time but, despite attempts […]
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1 min read
Activist Saba launches board and management coup at seven London-listed investment trusts
By MIKE SHEEN, This is Money, 19 December 2024: An activist investor is hoping to seize control of seven underperforming London-listed investment trusts after urging shareholders on Wednesday to sack their respective boards.. Saba has built stakes of 19 to 29 per cent in each of the trusts, which have suffered yawning discounts to their […]
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18 Dec 2024 1 min read
Activist Saba unleashes campaign against seven investment trusts
Gavin Lumsden, Investment Trust Insider, 18 December 2024: After months of mystery over its intentions, activist Saba Capital today launched campaigns for change at seven investment trusts in which it is the leading shareholder with stakes of 19-29%. The New York based hedge fund manager has requisitioned general meetings at three Baillie Gifford trusts: Baillie […]
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1 min read
US hedge fund takeover of investment trusts may be ‘positive’
David Thorpe, FT Adviser, 18 December 2024: US hedge fund Saba Capital is attempting to remove the boards of seven UK investment trusts, a move which could be positive for advisers’ clients, according to Iain Scouller, analyst at Stifel.. Each of those trusts has suffered performance issues in recent years and traded at wide discounts […]
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1 min read
US activist looks to oust boards at seven investment trusts
by Kyle Caldwell from interactive investor,18th December 2024: US activist investor Saba Capital has called for the removal of board members at seven investment trusts in which it is the largest shareholder, owning stakes between 19% and 29%.. Saba Capital has called for general meetings to take place for each trust by early February, and […]
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1 min read
Saba Capital launches campaign to replace seven investment trust boards
Christian Mayes, Portfolio Adviser, 18 December 2024: After months of curiosity around its intentions for the investment trust sector, activist investor Saba Capital has launched a campaign to replace seven investment trust boards. The US hedge fund has requisitioned the boards of Baillie Gifford US Growth Trust, CQS Natural Resources Growth & Income, Edinburgh Worldwide […]
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1 min read
Saba slammed for ‘obvious flaw’ in strategy to oust boards of seven investment trusts
Linus Uhlig, Investment Week, 18 December 2024: Analysts have slammed hedge fund manager Saba Capital after it launched campaigns to oust the boards of seven investment trusts of which it is a major shareholder. Activist New York-based hedge fund Saba has requisitioned general meetings of shareholders at seven UK investment trusts to reconstitute their respective […]
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1 min read
The gloves are off: Saba reveals its hand
By Emma Wallis, News editor, Trustnet, 18 December 2024: Saba Capital Management has published a letter proposing dramatic changes to seven investment trusts in which it is the largest shareholder. Its targets include three trusts managed by Baillie Gifford (Edinburgh Worldwide, Keystone Positive Change and Baillie Gifford US Growth) and two from Janus Henderson Investors […]
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2 min read
US activist moves to oust seven investment trust boards
by Dave Baxter, Investors Chronicle, December 18, 2024: Saba Capital wants to remove the boards of seven investment trusts and enact measures it claims will deliver better shareholder value. The activist investor, which has built stakes for several months, called for general meetings to be held at Baillie Gifford vehicles Baillie Gifford US Growth (USA), […]
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1 min read
US hedge fund targets Baillie Gifford in swoop on British trusts
Alex Ralph, Chief Business Correspondent, The Times, December 18 2024: An American activist investor has launched a campaign to remove the boards of seven UK-listed investment trusts, accusing some of delivering “disastrous” returns. Saba Capital, the New York-based hedge fund firm, issued an open letter on Wednesday calling on the boards to call a shareholder […]
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07 Oct 2024 1 min read
Investment trust insider on China’s stimulus
Investment trust insider on China’s stimulus – James Carthew: A China recovery could have a big impact on the world It’s not just China investment trusts that are feeling the benefit of Beijing’s efforts to stimulate the country’s stalling economy and depressed stock market. The latest rounds of stimulus being injected into the Chinese economy […]
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17 Mar 2023 1 min read
Look beyond the dividend heroes
Andrew Courtney, for Investment Week, 15 March 2023: The dividend hero and next generation hero lists published by the AIC are a great marketing tool for the investment companies industry and tend to generate a considerable amount of press attention, despite being a relatively simplistic yardstick (funds that have grown their dividend every year for […]
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16 Jan 2023 1 min read
Investment trust insider on running last year’s winners
James Carthew: Some 2022 winners are worth holding onto this year I’m uneasy about the resilience of the recent stock market rally. Despite this, I think a few of last year’s big gainers could do well again in 2023. Against a difficult backdrop, only about a third of investment companies generated a positive share price […]
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20 Dec 2022 1 min read
Falling at the first hurdle
Cherry Reynard, Trustnet Magazine, 20 December 2022: There was widespread optimism in the world of investment trusts at the start of 2022… However, as soon as Russia invaded Ukraine in February, all bets were off. This set off a chain of events, with disruption to commodity markets pushing up inflation, leading to higher interest rates […]
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21 Apr 2022 1 min read
Discover the best and worst performing investment trusts so far in 2022
James Crux, Shares Magazine, 21 April 2022: Rising interest rates since the turn of the year, runaway inflation and Russia’s shocking invasion of Ukraine have shaken the investment kaleidoscope in 2022 and forced many investors to reposition portfolios for an increasingly uncertain world… COMMODITIES TRUSTS IN DEMAND Precipitated by the supply/demand imbalances caused as global […]
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20 Apr 2022 1 min read
Defensives doing well
Jennifer Hill, AIC Compass, 8 April 2022: Jennifer Hill analyses the sectors delivering robust returns. Russia’s invasion of Ukraine feels symbolic, not only of a marked change in the geopolitical landscape but also of a potential regime change in investing. With oil, gas, wheat and many metals soaring in price, already-stubborn inflation is likely to […]
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14 Mar 2022 1 min read
The trusts with the biggest discount/premium changes since the crisis
Kathleen Gallagher, Investment Week, 10 March 2022: Since Russia invaded Ukraine on 24 February, investment trusts have, unsurprisingly, seen big moves in their discounts and premiums, this is leading to some trusts looking expensive and others starting to look more appealing. The figures from the Association of Investment Companies and Morningstar excluded those with large […]
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22 Feb 2022 1 min read
Metal miners are paying bumper dividends but do they come with too much risk?
Going underground: Reliable income is a target for many investors By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY 19 February 2022: For many investors, a reliable income stream from dividends is the Holy Grail. At present that grail is largely composed of copper, gold, and even vanadium – as much of the dividend growth from the […]
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23 Dec 2021 1 min read
2022: Picking winning investment trusts against a backdrop of uncertainty
James Carthew, Investment Week, 14 December 2021 Picking winners for next year is hard as, if Omicron turns out to be mild, we will be back to a faster growth, inflationary economy with possible rate rises and perhaps another leg up for value stocks. Alternatively, if we lose another winter to lockdowns, investors will be […]
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20 Dec 2021 1 min read
Investment trust insider on 2022
Investment trust insider on 2022 – James Carthew: Anomalies and opportunities on next year’s horizon Many of the themes that we had going into 2021 look likely to persist into 2022. Covid has not gone away, despite the success of vaccinations. God forbid we end up with lockdowns again, but this is quite possible. This […]
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22 Nov 2021 1 min read
WI Daily: October goes to commodities
In response to the UK inflation data, editor, Rory Palmer looks at another traditional inflation hedge – commodities What Investment, Rory Palmer, 18 NOV 2021 The latest inflation data announced on Wednesday revealed that UK CPI inflation was at 4.2% in October, up from a reading of 3.1% in September. In Tuesday’s WI Daily, I […]
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17 May 2021 1 min read
Boom and bust: What impact has Covid had on commodities cycle?
Investment Week, 10 May 2021 Matthew Read, senior analyst, QuotedData History shows that commodity cycles tend to be long. Back in the summer of 2019, Robert Siddles, then the manager of what is now Brown Advisory US Smaller Companies, joked with me that commodity cycles tend to have ten up years, then 18 down years, […]
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11 Aug 2020 1 min read
Investment trust insider on resources
Investment trust insider on resources – James Carthew: New City trio rides infrastructure rally As QuotedData compiled the performance statistics for July an unexpected pattern emerged. Commodities and natural resources funds were leading the performance tables, we noticed. To some extent they we were playing catch up, having lagged the rally in markets since the lows […]
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15 Jun 2020 2 min read
Opportunities for the optimistic investor
Opportunities for the optimistic investor: The cheap shares and investment trusts that could thrive post-lockdown By ANNE ASHWORTH FOR THE DAILY MAIL PUBLISHED: 22:01, 12 June 2020 | UPDATED: 10:29, 14 June 2020 Seldom has optimism been such a controversial state of mind. Anyone who dares to voice the hope that recovery may be possible is likely to be called […]
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20 Apr 2020 1 min read
Bottom of the market bargains
How to spot when the FTSE is bottoming out: Now could be the perfect time to pick up a bargain By ANNE ASHWORTH FOR THE DAILY MAIL PUBLISHED: 21:51, 17 April 2020 | UPDATED: 22:16, 17 April 2020 Uncertainty may be the new normal. But no matter how often we hear this mantra, investors would still like to know whether […]
