Overview
Seraphim Space Investment Trust aims to generate capital growth over the long term through investment in a diversified international portfolio of Space Tech businesses. “Space Tech businesses” means businesses which rely on space-based connectivity or precision, navigation and timing signals or whose technology or services are already addressing, originally derived from, or of potential benefit to the space sector.
The company has no formal benchmark. However, the company will target an annualised NAV total return on the company’s portfolio of at least 20% over the long-term. This is intended to be a target only and reflects the AIFM’s expectations of the potential returns that can be generated by investing in a portfolio of early and growth stage private companies which have the potential to generate substantial returns for their shareholders over the long-term and recognises that not all portfolio companies will achieve their potential and that some may fail in their entirety. It should not be taken as an indication of the company’s expected future performance, return or results over any period and does not constitute a profit forecast. Prospective investors should not place any reliance on the target return referred to above in deciding whether to invest.
As the priority is to produce capital growth over the long term, the company has no dividend target and will not seek to provide its shareholders with a particular level of distribution.
You can access the fund’s website here
Fundamentals
Price
Research History
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29 May 2025 16 min read
Seraphim Space Investment Trust – SpaceTech – the critical frontier in modern defence
SpaceTech – the critical frontier in modern defence Seraphim Space Investment Trust (SSIT) provides investors with focused exposure to the commercial space sector – one that is increasingly intertwined with defence. Around 78% of the trust’s portfolio has applications in defence, and key holdings such as ICEYE and ALL.SPACE are already embedded in the operational […]
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17 min read
Seraphim Space Investment Trust – SpaceTech – the critical frontier in modern defence
SpaceTech – the critical frontier in modern defence Seraphim Space Investment Trust (SSIT) provides investors with focused exposure to the commercial space sector – one that is increasingly intertwined with defence. Around 78% of the trust’s portfolio has applications in defence, and key holdings such as ICEYE and ALL.SPACE are already embedded in the operational […]
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16 min read
Seraphim Space Investment Trust – SpaceTech – A key frontier in modern defence
SpaceTech – A key frontier in modern defence Seraphim Space Investment Trust (SSIT) provides investors with a focused exposure to the commercial space sector – one that its manager highlights is increasingly intertwined with defence. Around 78% of the trust’s portfolio has applications in defence, and key holdings such as ICEYE and ALL.SPACE are already […]
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07 Nov 2024 12 min read
Seraphim Space Investment Trust – Entering orbit
Entering orbit Seraphim Space Investment Trust (SSIT) continues to see its portfolio of SpaceTech companies achieve what its managers believe are key milestones. Over SSIT’s financial year, its companies raised $900m in new investments, with SSIT contributing £11m across 10 positions. Examples include the oversubscribed IPO of Astroscale, the successful capital raise of D-Orbit, and […]
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13 min read
Seraphim Space Investment Trust – Entering orbit
Entering orbit Seraphim Space Investment Trust (SSIT) continues to see its portfolio of cutting-edge SpaceTech companies achieve key milestones. Over SSIT’s financial year, its companies raised $900m in new investments, with SSIT contributing £11m across 10 positions. Notable examples are the oversubscribed IPO of Astroscale, the successful capital raise of D-Orbit, and the soaring share […]
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14 min read
Seraphim Space Investment Trust – Entering orbit
Entering orbit Seraphim Space Investment Trust (SSIT) continues to see its portfolio of cutting-edge space-focused companies (‘SpaceTech’) achieve key milestones. Over SSIT’s financial year, its companies raised $900m in new investments, with SSIT contributing £11m across 10 investments. Notable examples are the oversubscribed initial public offering (IPO) of Astroscale, the successful capital raise of D-Orbit, […]
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14 Aug 2024 30 min read
Seraphim Space Investment Trust – Science fiction becoming science fact
Science fiction becoming science fact The manager of Seraphim Space Investment Trust (SSIT) says that the recent boom in the space economy has been driven by significantly lower costs to launch, smaller, cheaper components to build satellites and other spacecraft, and the growth of private space companies. Companies that once had to pay hundreds of […]
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30 min read
Seraphim Space Investment Trust – Science fiction becoming science fact
Science fiction becoming science fact The manager of Seraphim Space Investment Trust (SSIT) says that the recent boom in the space economy has been driven by significantly lower costs to launch, smaller, cheaper components to build satellites and other spacecraft, and the growth of private space companies. Companies that once had to pay hundreds of […]
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29 min read
Seraphim Space Investment Trust – Science fiction becoming science fact
Science fiction becoming science fact The manager of Seraphim Space Investment Trust (SSIT) says that the recent boom in the space economy has been driven by significantly lower costs to launch, smaller, cheaper components to build satellites and other spacecraft, and the growth of private space companies. It says that companies that once had to […]
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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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14 Sep 2023 9 min read
QuotedData’s Investment Companies Roundup – September 2023
September 2023 Monthly roundup | Investment companies Kindly sponsored by abrdn Winners and losers in August 2023 Share price total returns for investment companies were generally poor over August, with the best performing sector, Debt – Structured Finance, returning just 2.1%, with only a few sectors managing to eke out a positive total return. Funds […]
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05 Jan 2023 9 min read
QuotedData’s Investment Companies Roundup – January 2023
December 2022 Monthly roundup | Investment companies Winners and losers in December 2022 The Financials sector only has two constituents, one of these – Trian Investors 1 – has seen its discount narrow since it promised to return cash to investors by next June, and it has also benefited from underlying NAV appreciation. Last month’s […]
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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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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
News
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09 Sep 2025 2 min read
Trust Spot: Seraphim selloff puzzle and renewables discounts open up again
Cheaper trusts Looking at August’s biggest discount shifts, Seraphim Space (SSIT) appeared to plunge from a 14.7% discount to a 29.0% discount over the month. Today, the discount stands at 31.5%. At first glance, the reason for this is hard to fathom. Andrew McHattie mentioned the trust on the show on Friday (13:07) – highlighting […]
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05 Sep 2025 3 min read
Trust Spot: Gold bulls and bond bears do battle in dog days of August
Our review of last month’s big risers and fallers shows how concerns about President Trump’s threat to the independence of the Federal Reserve exacerbated concerns over US inflationary pressures. This made August a good month for investment companies exposed to gold and Asia, but less kind for listed renewables and some growth funds as forecasts […]
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05 Aug 2025 3 min read
Morning briefing: Aquila European tumbles 12.1%, Ashoka trusts get new co-manager, Mobius rebounds from tariff falls
Aquila European Renewables posts a 12.1% slump in net asset value a week after pausing its sale process, Hiren Dasani reunites with Ashoka founder Prashant Khemka from Goldman Sachs and Mobius says emerging markets could shine as US falters. Aquila assets plunge 12.1% in June quarter Aquila European Renewables (AERI), the winding-down company that “paused” […]
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21 Jul 2025 1 min read
Seraphim Space shares rally as top holding ICEYE scans Polish government investment at over $1bn valuation
Seraphim Space (SSIT) shares jumped 6% today after the Financial Times reported the Polish government was in talks to invest in ICEYE, the investment trust’s biggest holding, at a valuation “significantly higher” than $1bn (£740m). The Finnish company, which accounted for just over a quarter, or 25.5%, of Seraphim’s £239m portfolio at 31 March, has […]
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18 Jul 2025 2 min read
Stifel: Markets look “greedy” so here’s where to take investment company profits and look for value
Stifel is recommending investors take some profits on their investment company positions after an impressive rebound from the panic over US tariffs in early April. The broker said 42 investment companies had risen more than 25% in the wake of President Trump’s sweeping “reciprocal” tariffs on “Liberation Day”, which saw markets fall but then recover as the […]
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03 Jul 2025 4 min read
Seraphim’s June newsletter notes NATO win for ICEYE
Seraphim Space has published its newsletter for June 2025. Portfolio update Voyager Technologies achieves milestone with NYSE IPO debut Voyager Technologies made a strong debut on the New York Stock Exchange, opening at $69.75 (more than double its $31 IPO price), before closing day one at $56.48, marking an 82.2% surge and a valuation of […]
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27 Jun 2025 3 min read
Discounts, dividends and defence – how investment trusts are quietly keeping their edge
In a year already overloaded with geopolitical shocks and economic recalibrations, it would be easy to miss the quieter – but no less meaningful – developments taking place within the UK’s investment trust market. While headlines may have fixated on activist campaigns and takeover bids, a number of trusts have quietly outperformed or innovated in […]
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25 Jun 2025 5 min read
QuotedData’s morning briefing 25 June 2025 – PCFT, IAD, ICGT, WKOF, LSAA, SSIT, TORO, ANII, BNKR, RNEW
In QuotedData’s morning briefing 25 June 2025, Polar Capital Global Financials has completed its tender, Invesco Asia Dragon is increasing its dividend, Weiss Korea Opportunity has announced its first capital return, Life Settlement Assets has a c3% NAV uplift following the revaluation of a group of policies, Seraphim Space will be doing a presentation on […]
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16 Jun 2025 3 min read
QuotedData’s morning briefing 16 June 2025 – ESO, CLDN, BBH, SSIT, ORIT, AGR, TFG
In QuotedData’s morning briefing 16 June 2025, EPE Special Opportunities intends to extend the maturity date of its 8% loan notes by a year, a director of Caledonia has received and sold shares back to its employee share trust, Bellevue Healthcare has been granted permission to repurchase shares, Seraphim Space will be taking part in […]
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05 Jun 2025 5 min read
Seraphim Space has published its May 2025 SpaceTech newsletter
Portfolio Update ICEYE demonstrates huge strategic growth and momentum across global markets ICEYE continued to expand its global presence and strengthen its position as a leader in Synthetic Aperture Radar (SAR) satellite technology. Developments during May 2025 underscore the company’s growing role in defence, national security and commercial Earth observation: · Japan: In Japan, ICEYE and IHI […]
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04 Jun 2025 2 min read
Seraphim Space – Portfolio value rises 3% over quarter, ICEYE leads commercial momentum
Seraphim Space Investment Trust (SSIT) has reported results for the quarter ended 31 March 2025. While net asset value (NAV) per share edged down slightly by 0.3% to 100.78p, the underlying portfolio saw a 3.0% increase in value to £222.7m, reflecting solid commercial progress among key holdings. The quarter saw a £4.9m unrealised uplift in […]
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23 May 2025 4 min read
QuotedData’s morning briefing 23 May 2025 – ESCT, ENRG, PPET, MNTN, VNH, AGR/PHP, SSIT, FGEN, NESF, DLN
In QuotedData’s morning briefing 23 May 2025: We also have: Stories you may have missed from yesterday:
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09 May 2025 4 min read
Is now the time to go bargain hunting, and where might we look?
Global equity markets have been grappling with a wave of challenges in recent months, leaving investors navigating a landscape marked by uncertainty and contradiction. From the disruptive flare of Trump’s so-called “Liberation Day” tariffs – briefly lighting a match under global trade tensions before a swift retreat – to elevated concerns over inflation (will interest […]
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1 min read
Seraphim Space: Fireside in the Final Frontier
Paul McCarter, CEO of All.Space, shares how the company is transforming satellite communications with a unique terminal that connects to multiple orbits at once. With applications across defense and commercial sectors, All.Space is shaping the next era of global connectivity. Watch the video to learn more.
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08 May 2025 1 min read
QuotedData’s morning briefing 8 May 2025 – APAX, SSIT, CREI, THRL
In QuotedData’s morning briefing 8 May 2025: We also have: Did you see yesterday?
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04 Apr 2025 3 min read
QuotedData’s morning briefing 4 April 2025 – SSIT, PEY, ESO, HOME, RTW
In QuotedData’s morning briefing 4 April 2025: We also have: Stories you may have missed from yesterday:
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14 Mar 2025 1 min read
Why space, why now: crossing the final frontier
Begin your cosmic journey with Mark Boggett, CEO of Seraphim Space, and Will Whitehorn, Chair of Seraphim Space Investment Trust as they discuss the current SpaceTech landscape and satellite ecosystem. Exploring how this infrastructure is already being built above Earth, dramatically transforming our capabilities across climate, communications, mobility, and security. Find out how the space […]
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13 Mar 2025 1 min read
QuotedData’s morning briefing 13 March 2025 – AAIF, JEMI, SSIT
In QuotedData’s morning briefing 13 March 2025: Isaac Thong is being appointed lead manager of abrdn Asian Income Fund (AAIF) to work alongside Eric Chan. Isaac is joining Aberdeen’s Asia Pacific Equities team from JPMorgan, where he co-managed JPMorgan Global Emerging Markets Income Trust (JEMI) and the open-ended JPMorgan Emerging Markets Income Fund. He will […]
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13 Feb 2025 2 min read
QuotedData’s morning briefing 13 February 2025 – AJOT, ESO, AERI, SSIT, GPE, HLCL, SCP
In QuotedData’s morning briefing 13 February 2025: AVI Japan Opportunity (AJOT) says that Andrew Rose and Thomas (Tom) Yoritaka have joined its board as new non-executive directors. Andrew is a Japanese speaker with over 38 years’ experience specialising in Japanese equities and held various senior roles at Schroder Investment Management, where he spent 11 years […]
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03 Feb 2025 3 min read
QuotedData’s morning briefing 3 February 2025 – EWI, SSIT, CBA, TENT, SCP, SERE, SOHO
In QuotedData’s morning briefing 3 February 2025: Edinburgh Worldwide (EWI) has made an announcement in relation to its upcoming requisitioned general meeting and AGM, both of which are being held on 14 February 2025, in which it urges shareholders to “vote twice to stop Saba”. It says that shareholders can do this by voting against […]
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09 Jan 2025 2 min read
QuotedData’s morning briefing 9 January 2025 – BGLF, SSIT, TIR, HWG, CLI, DLN
In QuotedData’s morning briefing 9 January 2025: Blackstone Loan Financing (BGLF) will return €260m to shareholders via a compulsory redemption of 344,325,255 shares at €0.7551 per share on 4 February. This will shrink the company by 98.39%. On this basis, a holder of 10,000 shares will have 9,839 Shares redeemed, and receive €7,429.43 in cash. […]
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15 Oct 2024 2 min read
Annual results a sign of what’s to come for Seraphim Space Investment Trust
Seraphim Space Investment Trust (SSIT) has announced its annual results for the year ended 30 June 2024. The company saw a NAV total return of 2.6%, while shares rallied 102.2%. The strong performance saw the company’s discount narrow significantly, although the share price remained depressed at a discount of 43.2% highlighting the extent of the […]
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03 Sep 2024 1 min read
QuotedData’s morning briefing 3 September 2024 – RMII, VNH, MNL, SSIT
In QuotedData’s morning briefing 3 September 2024: RM Infrastructure Income (RMII) announced a tender offer of up to £20m to be made to shareholders, together with a notice convening a general meeting of the company, to be held on 25 September 2024 at 12.00pm. Following shareholder approval of a new investment policy at a general […]
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05 Aug 2024 2 min read
QuotedData’s morning briefing 5 August 2024 – DNE, SSIT, THRG, TFIF, MMIT
In QuotedData’s morning briefing 5 August 2024: Dunedin Enterprise (DNE) has announced that Dunedin Buyout Fund III LP has entered into a legally binding agreement for the realisation of its investment in EV, a provider of high-performance video cameras and quantitative visual analytics to the global energy industry. The investment in EV was valued, net […]
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02 Jul 2024 2 min read
Seraphim Space Investment Trust maintains momentum as portfolio continues to develop
Seraphim Space Investment Trust (SSIT) has provided an update including several announcements regarding its portfolio companies including: Voyager Space’s Starlab announces strategic partnership with Palantir Starlab Space, the US-led global joint venture from portfolio company Voyager Space, Airbus, Mitsubishi Corporation and MDA Space, announced Palantir Technologies as a strategic partner. Palantir will become the exclusive […]
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06 Jun 2024 2 min read
Strong momentum for Seraphim Space
Seraphim Space Investment Trust (SSIT) announced its third quarter results for the three-month period ended 31 March 2024. The company saw a NAV total return of 0.8% for the period, a portfolio valuation increase of 1.4%, and a significant jump in the share price of 43%. The strong return was driven by a number of […]
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22 Apr 2024 1 min read
QuotedData’s morning briefing 22 April 2024 – MHN, SSIT, CHRY
In QuotedData’s morning briefing 22 April 2024: Menhaden Resource Efficiency (MHN) has announced that it has completed a new private investment with KKR in Avantus, the leading solar and energy storage developers in the United States. The initial investment of $17.5m equates to 10.0% of MHN’s NAV. The portfolio manager believes the deal is highly […]
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13 Mar 2024 1 min read
QuotedData’s morning briefing 13 March 2024 – AEIT, UEM, SSIT, SUPR, CREI
In QuotedData’s morning briefing 13 March 2024: Asian Energy Impact Trust (AEIT) has released its NAV for the period ending 31 December 2023. It reported a NAV per share of 48.5 cents per share, down from 50.4 cents as of 30 September 2023. This is represents a total NAV of $85.0m. NAV movements are attributed […]
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20 Nov 2023 1 min read
QuotedData’s morning briefing 20 November 2023 – SSIT, INOV, IBT, USF, UKCM
In QuotedData’s morning briefing 20 November 2023: Seraphim Space Investment Trust (SSIT) has released its Q1 update. Highlights include a further £4.1m, invested in two projects over the quarter. Portfolio value increased to £199.9m up £12.4m, due to a combination of additional investments, unrealised fair value net gains and an unrealised FX gain. The main […]
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17 Oct 2023 2 min read
Seraphim Space Investment Trust continues to plummet
Seraphim Space Investment Trust (SSIT) has announced its audited results for the financial year ended 30 June 2023. The company’s NAV total return was -7.1%, while shares fell 49% to see the discount widen to 70.9%. Regarding the discount, the board continues to believe this does not reflect the performance of the portfolio or how […]
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21 Jul 2023 5 min read
QD view – Where there’s smoke is there fire?
We have previously espoused the notion that the widespread discounts in the unlisted investment trust sectors are often unjustified. It is certainly true that many viable investment strategies are trading on ever wider discounts, if not their historically widest levels, with investors for example selling down their holdings out of fear of valuations cuts, or […]
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13 Jul 2023 1 min read
Seraphim Space announces buyback
Seraphim Space has authorised a share buyback programme. It hasn’t said how big that will be except to say that it wouldn’t use all of its permission to buyback up to 14.99% of the company. Neither has it set a discount target. [Nevertheless, shareholders will be pleased to see the board take some action to […]
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15 Mar 2023 2 min read
SBV updates from Schroder UK Public Private and Seraphim Space
Seraphim Space (SSIT) has commented on the recent events concerning Silicon Valley Bank (SVB). SSIT confirms that it does not bank with SVB, nor does its investment manager, Seraphim Space Manager LLP. However, eight of SSIT’s portfolio companies use SVB as their primary banking provider. SSIT says that it does not anticipate that the recent […]
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09 Mar 2023 2 min read
QuotedData’s morning briefing 9 March 2023
In QuotedData’s morning briefing 9 March 2023: US Solar Fund (USF) says its board and its advisers have engaged with a significant number of parties and, following receipt of indicative proposals, have shortlisted several parties who have proceeded to the next phase of its strategic review process. In order to provide the shortlisted parties with […]
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17 Oct 2022 2 min read
Seraphim Space – repurchases not in shareholders best interests despite 47% discount
Seraphim Space (SSIT) has announced its annual results for the year ended 30 June 2022. During the year, SSIT’s NAV grew by 1.9%, but its share price fell by 47.0%, so it finished its year end on a 47.% discount to NAV. The chairman, Will Whitehorn says that “Given the discrepancy of performance between NAV […]
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09 Sep 2022 2 min read
QuotedData’s morning briefing 9 September 2022
In QuotedData’s morning briefing 9 September 2022: Riverstone Credit Opportunities Income (RCOI) has announced that it is upsizing its investment in Hoover Circular Solutions, a sponsor-backed company that is a global leading specialty rental provider of containers and mobile asset management solutions across the energy, industrial, refining, and petrochemical industries. In October 2020, RCOI participated in a […]
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15 Aug 2022 1 min read
QuotedData’s morning briefing 15 August 2022
In QuotedData’s morning briefing 15 August 2022: Seraphim Space (SSIT) holding D-Orbit, a market leader in space logistics and orbital transportation services, and Breeze Holdings have mutually agreed to terminate their previously announced merger agreement effective immediately. Both companies have agreed that financial markets have changed substantially since the proposed transaction was originally agreed upon […]
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29 Jul 2022 1 min read
QuotedData’s weekly news show 29th July 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 and Andrew McHattie covered the week’s top stories: • JPMorgan Russian • Seraphim Space • Ecofin US Renewables This week’s interview was with Stuart Widdowson from Odyssean Investment Trust – watch […]
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28 Jul 2022 2 min read
Seraphim Space updates on plans for remaining cash
During the quarter ended 30 June 2022, Seraphim Space invested £5.3m in three new unlisted investments, and also made two follow-on investments totalling £2.4m. As at 30 June 2022, the company had cash of £57.7m. Given the big swing in sentiment against growth stocks and the present unlikelihood of Seraphim raising more money, the manager […]
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23 Feb 2022 1 min read
QuotedData’s morning briefing 23 February 2022
In QuotedData’s morning briefing 23 February 2022: Seraphim Space (SSIT) has posted its interim results for the period from its IPO in July 2021 to 31 December 2021. During this time, it achieved an NAV uplift of 43.2% while its share price premium to NAV was 19.8%. The trust launched raising £150m before raising an […]
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28 Jan 2022 2 min read
Seraphim Space’s D-Orbit is ready for launch
Seraphim Space Investment Trust (SSIT) has announced today that its portfolio company D-Orbit S.p.A., an Italy-based space logistics and transportation company, is to become publicly listed through a business combination with Breeze Holdings Acquisition Corp. (NASDAQ: BREZ), a publicly traded special purpose acquisition company. SSIT says that, following the close of the transaction, which is […]
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17 Dec 2021 2 min read
Seraphim Space acquires holdings in ICEYE Oy and D-Orbit SpA
Seraphim Space Investment Trust (SSIT) has announced that it has acquired holdings in ICEYE Oy and D-Orbit SpA from Seraphim Space LP as was set out in SSIT’s IPO prospectus. SSIT agreed to acquire four assets from the Seraphim Space Fund in exchange for new ordinary shares in SSIT and these two acquisitions represent the […]
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3 min read
QuotedData’s morning briefing 17 December 2021
In QuotedData’s morning briefing 17 December 2021: Oryx International Growth (OIG) has published its interim results for the six months ended 30th September 2021. Both the chairman’s and manager’s statement are impressively succinct, so there’s surprisingly little that we can say here. However, we can report that during the period, OIG’s NAV has increased by […]
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06 Dec 2021 1 min read
Seraphim Space backs ICEYE
Seraphim Space backs ICEYE – Seraphim Space (SSIT) has made a new $25m investment into ICEYE Oy, the global leader in synthetic aperture radar satellite imaging technology. SSIT first invested in ICEYE in 2017, prior to it launching its first satellite, and has participated in every subsequent ICEYE funding round. ICEYE has since deployed the […]
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25 Nov 2021 4 min read
QuotedData’s morning briefing 25 November 2021
In QuotedData’s morning briefing on 25 November 2021: Seraphim Space (SSIT) has made a new $12.5m investment into Astroscale Holdings, the market leader in satellite servicing and long-term orbital sustainability across all orbits. Astroscale closed a $109m series F round which was led by THE FUND Limited Partnership in Japan and backed by a group […]
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08 Nov 2021 3 min read
QuotedData’s morning briefing 8 November 2021
In QuotedData’s morning briefing 8 November 2021: HICL Infrastructure (HICL) has acquired, indirectly, a 33.3% interest in Road Management Group, a holding company which comprises two UK shadow toll roads: the A417/A419 Swindon-Gloucester and the A1(M) Alconbury-Peterborough. The interest was acquired from Abertis Infraestructuras for a combined consideration of up to £34.4m. This investment will be funded by […]
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27 Sep 2021 3 min read
QuotedData’s morning briefing 27 September 2021
In QuotedData’s morning briefing 27 September 2021: Seraphim Space (SSIT) has invested $25m into Isotropic Systems, a leading developer of transformational broadband terminal technologies which is looking to redefine satellite communications. Isotropic’s Series B funding round raised more than $35m and other participants included strategic and deep-tech venture capital investors, such as AEI HorizonX, Promus […]
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09 Sep 2021 1 min read
Seraphim Space completes nanosatellite deal
Seraphim Space completes nanosatellite deal – Seraphim Space Investment Trust confirms that it is buying a holding in Spire Global, Inc. from the Seraphim Space LP. The intention to make this investment was set out in the IPO prospectus – following its IPO, Seraphim Space planned to buy four assets from the Seraphim Space Fund in […]
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18 Aug 2021 1 min read
QuotedData’s morning briefing 18 August 2021
In QuotedData’s morning briefing 18 August 2021: Seraphim Space (SSIT) pipeline company, Spire Global, a leading provider of space-based data, has completed its merger via a SPAC with NavSight Holdings. The combined company has been renamed Spire Global Inc and shares have started trading on the New York Stock Exchange under SPIR. As announced at Seraphim […]
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12 Jul 2021 2 min read
We have lift off!
We have lift off! – Seraphim Space raises £178.4m Seraphim Space Investment Trust, which will invest in a diversified international portfolio of early and growth stage space technology businesses, is pleased to announce that it has successfully raised gross proceeds of approximately £178.4m from its initial issue of shares. The money raised from the initial […]
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Videos
In The Press
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22 Jul 2025 1 min read
Investment trust insider on Seraphim Space
Investment trust insider on Seraphim Space – James Carthew: Seraphim Space is coming good Seraphim Space cratered soon after lifting but now seems to have momentum on its side. I last wrote about Seraphim Space (SSIT) back in August 2024. At the time, the trust was trading on a 43% discount, but its fortunes have […]
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13 Apr 2025 1 min read
As Amazon boss Jeff Bezos sends his fiancee on a rocket trip, is it time to invest in space tourism?
By ROSIE MURRAY-WEST, Mail on Sunday, 13 April 2025: When Katy Perry first sang Firework 15 years ago, it seemed unlikely that she would ever ‘shoot across the sky’ like the subject of her top-selling hit. But this week, the 40-year-old singer will fly 62 miles above the earth’s surface on Jeff Bezos’s Blue Origin […]
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28 Mar 2025 1 min read
Investment trusts: Ain’t no discount wide enough
Tom Aylott, Portfolio Adviser, 27 March 2025: Widening discounts have plagued the investment trust industry for several years now as company shares continue to lose value versus their underlying assets. Multiple efforts were made to remedy this ongoing dilemma in 2024, including the highest level of share buybacks in the sector’s history.. Yet despite boards’ […]
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17 Dec 2024 1 min read
Investment trust insider looks back at 2024
Investment trust insider looks back at 2024 – James Carthew: Shrinking trusts provide multiple opportunities Share price discounts remain stubbornly wide despite a huge number of buybacks and corporation actions in 2024. Nevertheless, there have been some big winners this year. This year has seen the investment companies sector shrink as boards have made big […]
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07 Oct 2024 1 min read
Investment trust winners and bargains worth backing
by Dave Baxter, Investors Chronicle, October 4, 2024: Markets have not exactly been moving sideways in 2024. The S&P 500 has returned nearly 15 per cent in sterling terms over the first nine months of the year, with the FTSE All-Share making more than 10 per cent. Equity fund investors have had plenty to enjoy, […]
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23 Sep 2024 1 min read
Investment trust insider on good news for the investment companies sector
Investment trust insider on good news for the investment companies sector – James Carthew: Trusts that should rally on costs reform and rate cuts There was no pool of capital waiting to pounce on last week’s good news so there is still time to grab a bargain before over-sold investment companies start to bounce. On cost […]
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27 Aug 2024 1 min read
Investment trust insider on Seraphim Space
Investment trust insider on Seraphim Space – James Carthew: Watch this space on Seraphim As space economy input costs fall and more of Seraphim Space’s portfolio earns revenues and profits, its 43% discount has plenty of scope to narrow. Part of the fun, and the challenge, of my job is that I get to look […]
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31 Jul 2024 1 min read
Top 20 investment trusts that have seen their discounts narrow
by Kyle Caldwell from interactive investor, 31st July 2024: For about 18 months, there’s been no shortage of investment trust bargain opportunities, with the average trust discount typically trading at around -15%.. For this article, we asked QuotedData, the investment trust analyst, to crunch the numbers to reveal which trusts have bucked the trend and […]
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29 Jul 2024 1 min read
Investment trust insider on rebuilding Britain
Investment trust insider on rebuilding Britain – James Carthew: Trusts must invest capital, not buy back shares forever New regulation could narrow share price discounts, allowing trusts to reallocate capital into areas that need it, such as infrastructure and private British companies. Post the election, a sense of optimism is emerging in the UK. For […]
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12 Jun 2024 1 min read
Should you buy the best-performing investment trust of the year (so far)?
By Jean-Baptiste Andrieux, Reporter, Trustnet, 12 June 2024: It may have flown under many investors’ radars, but the best-performing investment trust so far this year specialises in private space tech businesses. Since the beginning of the year, Seraphim Space has surged by 94.8%, nearly 40 percentage points ahead of the runner-up, Foresight Sustainable Forestry Company. […]
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07 May 2024 1 min read
Investment trust insider on growth capital funds
Investment trust insider on growth capital funds – James Carthew: Growth capital funds like Chrysalis are bargains Last week, Federal Reserve chair Jerome Powell poured more cold water on the prospect of imminent interest rate cuts in the US but at least seemed to rule out new rate rises. Growth capital funds providing finance to […]
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08 Mar 2024 2 min read
The investment trusts banking on an IPO rebound
by Dave Baxter, Investors Chronicle, March 8, 2024: With its latest trading update unveiling a fifth straight annual loss, unquoted buy now, pay later business Klarna embodies some of the problems facing racy growth companies in recent times. Once seen as a promising name, the lender has struggled in the face of rising rates and […]
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06 Feb 2024 1 min read
Best performing funds and investment trusts in January: Seraphim Space in top spot
By HARVEY DORSET, This is Money, 6 February 2024: Seraphim Space Investment Trust climbed to new heights in January, marking itself as the best performing investment trust of the month as its returns skyrocketed 49.4 per cent. The trust, which invests in early-stage space technology firms, reversed losses in the latter part of 2023, which […]
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18 Dec 2023 1 min read
Bagging a bargain: 13 investment trusts pros say offer great value
by Jennifer Hill from interactive investor, 18th December 2023: Investors looking to bag a bargain need look no further than the investment trust sector where risk-off sentiment has this year sent discounts to levels not seen since the financial crisis. At the end of 2021 – before the war in Ukraine fuelled energy and food […]
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15 Aug 2023 1 min read
How to tell if a discount is an opportunity or a value trap?
By Jean-Baptiste Andrieux, Reporter, Trustnet, 15 August 2023: Investment trusts on discounts offer opportunities for investors to gain exposure to assets at less than their book value. This may sound like an attractive bargain, but there is no guarantee that the gap between the share price and the net asset value per share will close. […]
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20 Jan 2023 2 min read
Investment trust bargains: how to find them and where to look in 2023
by Kyle Caldwell from interactive investor, 19th January 2023: We explain the tricks of the trade to find potential discount opportunities, and name the three areas where analysts are finding plenty of value in 2023… The first thing to point out is that while investment trust discounts offer opportunities to buy a basket of investments […]
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09 Jan 2023 1 min read
Investment trust insider on discount opportunities
Investment trust insider on discount opportunities – James Carthew: Discount dislocations offer opportunities Today, at the same time as investors get to grips with higher inflation and interest rates, they are afflicted by wider share price discounts to net asset values (NAV) across the investment companies sector. Many years ago a former colleague of mine […]
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21 Nov 2022 1 min read
Trusts’ unlisted headache
By Dave Baxter, Investors’ Chronicle, November 17, 2022: Investment trusts typically demonstrate their strength in a crisis. Closed-ended equity income funds shrugged off the dividend cuts of 2020 thanks to revenue reserves, while trusts’ investment framework means they have encountered none of the liquidity problems demonstrated so clearly by the Neil Woodford scandal. That structure, […]
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08 Aug 2022 1 min read
Fed up with the gloom holding back your portfolio on earth? How to invest in the FINAL FRONTIER of space
By ANNE ASHWORTH FOR THE DAILY MAIL, 5 August 2022: During this summer of high anxiety about Planet Earth, space has become a focus of attention for investors. What better time to explore technologies that sound like science fiction, but could solve terrestrial challenges, while providing a route to portfolio diversification? The new James Webb […]
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17 May 2022 1 min read
Investment trust insider on Seraphim Space
Investment trust insider on Seraphim Space – James Carthew: Seraphim Space bumps back to earth Just 10 months ago, Seraphim Space (SSIT) managed to raise £150m from investors in an oversubscribed initial public offer. Stakes-for-shares swaps expanded the company, exuberant markets drove the shares to a 32% premium above net asset value (NAV), and by […]
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15 Nov 2021 1 min read
Investment trust insider on US versus UK closed-end funds
Investment trust insider on US versus UK closed-end funds – James Carthew: Higher governance standards help UK beat US in closed-end funds The flood of fresh money streaming into the investment companies sector is incredible. I was chatting to investors, directors and journalists at an event to mark the third anniversary of AVI Japan Opportunities […]
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2 min read
Investment trusts rediscover their roots with a 21st century twist
The listed fund vehicles are financing innovation in clean fuels, space and digital infrastructure Mary McDougall, Financial Times, NOVEMBER 12 2021 Investment trusts seem to be coming full circle. For most of the 20th century, they gradually moved away from their origins as entrepreneurial schemes investing in specific targets, often in Britain’s colonies, to running […]
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2 min read
The alternative trusts allowing investors to capture new trends
Investment trusts enjoy record year for fundraising as they back a new wave of innovation November 11, 2021, Investors Chronicle, By Mary McDougall Investment trust fundraising amounted to £11.4bn in the first 10 months of the year, a record for the ancient fund structure which is now financing a new wave of innovation. Most striking is the […]