Retail investors have significantly upped their exposure to private equity investment trusts over the past 12 months in search of bargains, causing discounts to narrow considerably during 2019. HarbourVest Global Private Equity (HVPE) said retail exposure within its pool of clients has almost doubled over the past year, climbing to 5.3% of its share register […]
Neil Woodford has been criticised by investment trust analysts for the late disclosure of the sale of a majority of his stake in Woodford Patient Capital Trust (WPCT), with a trio of brokers speculating the portfolio could be wound up. Charles Cade, analyst at Numis Securities, said he was “surprised that Neil Woodford needed to […]
QuotedData’s Shonil Chande gets a mention in this week’s investment trust watch – a rundown on changes in Z scores (statistically meaningful discount changes) “The proposal – which shareholders will vote on in September – would effectively lock in investors for a further five years, which analysts felt was far too long and should have […]
Investment Trust Insider on TwentyFour Income Fund – James Carthew: what TwentyFour’s yield appeal says about credit markets I was looking at results for TwentyFour Income (TFIF) for the year ended 31 March 2019 and thinking, how does an investment company that only managed to generate a total return (including income) on net assets of 1.6% over a […]
Investors are nervous and perhaps they have every reason to be. A decade-long bull market appears to be stuttering, global growth is slowing and political tensions are worsening. In such an environment, it can be hard to know where to turn. In the investment companies market, many investors have been putting their faith in a […]
Investment Trust Insider on El Oro’s rollover into JPMorgan Elect – James Carthew: El Oro teaches Martin Currie how to roll over Last week we said goodbye to one of the more eclectic members of the investment companies family. El Oro (ELX) has been put into liquidation and its assets divvied up between a rollover option […]
Investment Trust Insider on Long Term Asset Funds – James Carthew: ‘Long-Term Asset’ funds a ruse not solution Following Bank of England governor Mark Carney’s criticism of open-ended funds investing in illiquid assets, fund manager trade body the Investment Association (IA) has dreamed up a new fund structure, a ‘Long-Term Asset Fund’, that would not offer […]
Investment Trust Insider on Adamas Finance Asia – James Carthew: the growth capital trust that’s cheaper than Patient Capital The well-documented slump in Woodford Patient Capital (WPCT) has left it trading on a 35% discount to net asset value (NAV). There have been plenty of articles questioning the NAV which I won’t expand on but, even […]
Is Woodford Patient Capital revamp enough to lure back buyers? …The board of WPCT moved to address the concerns of key shareholders on Friday (28 June) by announcing a raft of measures in response to the ongoing crisis at Woodford Investment Management. …Most welcomed these changes, but some believe a complete revamp is required. Ben […]
QuotedData’s Matthew Read on the Global Financial Sector – It is more than 10 years since the Global Financial Crisis. You might have thought that the financials sector would have rebounded since then and would be back in favour with investors. …There is a lingering negative sentiment towards the sector. After all, for many of us, […]
