By Jean-Baptiste Andrieux, Reporter, Trustnet, 10 August 2023: Scottish Mortgage and Edinburgh Worldwide belong to two different sectors but share a range of similarities. Besides being both run by Baillie Gifford, they invest with a global mandate, mix public and private equities and have highly concentrated portfolios. Moreover, they are both currently trading on a […]
By Val Cipriani, Investors Chronicle, August 8, 2023: Private equity trust valuations have broadly held up so far this year despite higher interest rates leading to pessimism and huge discounts across the sector. Private equity net asset values (NAVs) are published with a few months of delay, so most of the data currently available refers […]
Investment trust insider on debt loans and bond funds – James Carthew: Soft landing vs recession weighs on bond funds Last Thursday’s interest rate decision saw the Bank of England hike interest rates by 0.25 percentage points as expected. Afterwards, interest rate swap curves were suggesting that UK interest rates would peak at about 5.75% […]
by Faith Glasgow for interactive investor, 7th August 2023: Most major markets rose in July, as did hopes that a US recession can be averted, while better-than-expected inflation news provided a welcome fillip for interest-rate sensitive sectors of the investment trust world such as infrastructure and growth capital. Investment trust discounts have therefore tended to […]
Matthew Read, for Investment Week, 4 August 2023: The outlook for the UK equity market feels particularly depressed and it is not hard to see why. Even after June’s better-than-expected inflation figures, core UK inflation remains high, which suggests higher interest rates for longer. Commentators are expecting that the base rate, which at 5.25% is […]
by Sam Benstead from interactive investor, 2nd August 2023: Wide investment trust discounts are making them appealing takeover targets, with rumoured or confirmed deals likely to lead to sudden share price jumps… Discounts have widened due to negative sentiment about the economy, and therefore private company valuations, but also due to the impact of higher […]
James Carthew: Need to cut charges lies behind Abrdn and trust changes The pace of change within the investment company sector appears to be accelerating. Just in the last few weeks we have seen Asset Value Investors win the mandate to run MIGO Opportunities (MIGO), though likely with the same management team as before, which […]
By Matteo Anelli, Reporter, Trustnet, 31 July 2023: Fidelity has suspended new investments into RIT Capital Partners, one of the largest and most popular trusts in the IT Flexible Investment sector. The move feels like a follow-up to what happened in January 2023 to abrdn Private Equity Opportunities, which was also suspended from the platform […]
By ROSIE MURRAY-WEST, Mail on Sunday, 30 July 2023: Investors in British companies have had a tough time this year. They have endured a rollercoaster ride of stomach-lurching rises and falls if they invested in the FTSE 100 list of the UK’s 100 largest companies – and all they would have to show for it […]
by Faith Glasgow from interactive investor 24th July 2023: The four venerable multi-asset trusts with a well-deserved reputation for capital preservation have suffered significant losses so far in 2023. Why? This year has been a terrible one for investment trusts focused on wealth preservation to try and do their job. In the face of a […]
