Cherry Reynard, PORTFOLIO ADVISER, 02 OCTOBER 2023: The Bank of England’s change of direction on interest rates has rippled through investment markets. Perhaps one of its most surprising impacts has been felt in the growth capital and private equity sectors, where trusts have seen a considerable bounce over the last three months. After a torrid […]
Investment trust insider on discount disconnects – James Carthew: The SONG and dance about alternative NAVs One argument used by investors who justify the wide discounts on investment companies in ‘alternative’, non-equity assets is that the underlying net asset values (NAV) of their portfolios are overstated. Sometimes this is easy to counter, but in other […]
Valeria Martinez, Investment Week, 29 September 2023: Digital 9 Infrastructure (DGI9) shares fell by nearly 40% on Thursday (28 September), as shareholder confidence and hopes for the successful turnaround of the troubled trust dwindle. The share price plunge followed the board scrapping its 6p dividend target for the 2023 financial year and not declare a […]
by Cherry Reynard from interactive investor, 27th September 2023: Small is becoming less beautiful in the investment trust world. Problems of wider discounts, poor liquidity and even – in some cases – weaker performance, have started to worry investors. Another headwind is that wealth managers often won’t touch investment trusts with less than £250 million […]
by Faith Glasgow from interactive investor, 25th September 2023: The investment trust sector has not had it easy over the 20 months or so, as rocketing inflation and ongoing interest rate hikes have depressed growth prospects and stifled investor demand for risk assets across the board. The downbeat economic outlook has left most investment trusts […]
James Crux, Shares Magazine, 21 September 2023: According to data from the AIC, the average investment trust discount to net asset value has widened from 12.2% at the end of 2022 to 14.5% as of 8 September 2023, while sector averages have generally widened. The exception is private equity, which narrowed from 25.1% to 4.5%, […]
Christian Mayes, PORTFOLIO ADVISER, 19 SEPTEMBER 2023: Jefferies analysts Matthew Hose and Fiona Huang have assessed various outcomes ahead of the Hipgnosis Songs Fund continuation bid. As of this morning (19 September), shares in the music royalty investment trust are down 12% since last Thursday’s announcement of the sale of a fifth of its portfolio […]
Valeria Martinez, Investment Week, 15 September 2023: Hipgnosis Songs’ deal to sell a fifth of its music catalogue to a Blackstone-owned vehicle has been put under scrutiny by analysts, with some raising doubts the move will be enough for shareholders to support the trust’s continuation. In a stock exchange notice on Thursday (14 September), the […]
By ANNE ASHWORTH, Daily Mail, 18 September 2023: National Savings & Investments (NS&I) has mostly avoided controversy during its 162-year history… You can shield a chunk of your cash in this safety-first option which gives you scope to explore more adventurous long-term income opportunities. Some of these lie in the investment trust sector which also […]
by Sam Benstead from interactive investor, 12th September 2023: Investment trust investors are suffering this year, with the sector dropping around 2% so far in 2023, including dividends. A key reason for the average trust being in the red is the widening of discounts, which in the spring reached their widest levels since the financial […]
