Investment trust insider on the deal flurry at the end of 2023 – James Carthew: Deals flurry shows trust recovery has just begun Merger talks and proposals to liberate capital for share buybacks and investments are clear signs investment companies are pulling away from last year’s bear market. The so-called ‘Santa rally’ over November and […]
by Dave Baxter, Investors’ Chronicle, January 3, 2024: Even the last working day before Christmas was far from short of investment trust news. The board of Octopus Renewables Infrastructure (ORIT) announced an intention to merge with its peer Aquila European Renewables (AERI) on the morning of 22 December… The plan has received a lukewarm response […]
by Jennifer Hill from interactive investor, 28th December 2023: Risk-off sentiment has pushed investment trust discounts to historically wide levels and many boards have been proactively trying to address the issue. This year will be a record for share buybacks with almost £3.5 billion of investment trust share buybacks in the first 11 months, data […]
Christian Mayes, Portfolio Adviser, 2 JANUARY 2024: Octopus Renewables Infrastructure (ORIT) is exploring a possible merger with the £257m Aquila European Renewables trust (AERI). In a stock exchange announcement last month (22 December), the Octopus board proposed a combination which would create a £1.6bn renewable energy portfolio… In a separate stock exchange announcement, AERI’s board […]
Patrick Hosking, Financial Editor, The Times, Saturday December 23 2023: A London-listed specialist in wind and solar farms has sparked a storm in the renewable energy sector with a hostile £745 million bid for a smaller rival. Octopus Renewables Infrastructure Trust disclosed that earlier private approaches to Aquila European Renewables had been rejected three times […]
James Baxter-Derrington, Investment Week, 22 December 2023: Octopus Renewables investment trust (ORIT) has made several attempts to engage with Aquila European Renewables (AERI) over 2023, in a bid to merge the two vehicles. According to a regulatory filing this morning (22 December), the £506m market cap ORIT has “sought on several occasions” during 2023 to […]
Kathleen Gallagher, Citywire Investment Trust Insider, 22 Dec 2023: Octopus Renewables Infrastructure (ORIT) is determined to bring its net asset value to £1bn through a merger with Aquila European Renewable (AERI) but the board of the latter appears to need some convincing. ORIT, which has a £604m portfolio, said there is ‘compelling logic’ to create […]
Valeria Martinez and James Baxter-Derrington, Investment Week, 20 December 2023: The law firm representing Home REIT investors has progressed legal action against the trust and its former adviser, Alvarium, which today (20 December) reported its portfolio is now worth less than half of what it spent on acquisitions… In a regulatory update today, the trust […]
James Carthew in The Investment Trusts Handbook 2024: James Carthew reviews a tough year for the alternative asset trusts In the years following the global financial crisis, the investment companies industry boomed as investors in search of income poured money into alternative assets. Not everything worked. Aircraft leasing and reinsurance funds proved to be notable […]
Investment trust insider on 2023 – James Carthew: Dramatic 2023 leaves sector radically different The rationalisation of the sector continues. There has been a flurry of announcements over the past couple of weeks: Abrdn Diversified Income and Growth (ADIG) announced a managed wind down; Triple Point Energy Transition (TENT) declared it will begin an orderly […]
