Investment Week, 28 April 2023: In this month’s ‘Four graphs explaining’ our experts consider the Latin American market. Andrew Courtney, analyst at QuotedData Outside of some pockets of optimism, Latin America has slipped from one crisis to another over the past few decades. GDP has been anaemic at best, currencies have tumbled, and its regions […]
James Carthew: Early exit offer makes Ashoka trust less of a leap It is good to see some signs of life in the investment company IPO market after an extended hiatus, as the team behind Ashoka India Equity (AIE) has a go at launching a £100m trust with a wider emerging markets remit. Money has […]
by Kyle Caldwell from interactive investor, 19th April 2023: There are sound reasons to look beyond ‘dividend hero’ investment trusts, as this research shows. Many investors like to buy funds and investment trusts that invest in dividend-paying companies or income-producing bonds… Investors should look beyond the dividend heroes However, investors should not just simply stick […]
By Tom Aylott, Reporter, Trustnet, 19 April 2023: The RIT Capital Partners trust has sunk to a 20.1% discount following recent criticism from analysts, but some are saying that this has opened an attractive window to buy. Trouble began in January after Alan Brierley, director of investment company research at Investec scrutinised its “ominously” high […]
James Carthew: This selloff has gone too far Looking at my portfolio, the past few months have felt a bit frustrating. Investment companies that I am convinced are sound have been derated, sometimes aggressively. Investors seem irrational, perhaps even panicky. Fundamentals are being ignored and sentiment rules all. Fortunately, the bulk of my investments are […]
James Carthew: Will good performance narrow Oakley Capital’s illogical discount? In both underlying net asset value (NAV) and share price terms, the best-performing private equity fund over the past five years has been Oakley Capital Investments (OCI). The share price has kept pace with the NAV over that period – both returning about 23% per […]
By Val Cipriani, Investors Chronicle, April 4, 2023: Social and economic infrastructure trusts continue to trade below their net asset value (NAV) despite an encouraging set of financial results, as worries over interest rates and valuations spooked investors. In the month to 31 March, share prices in the Association of Investment Companies’ infrastructure group dropped […]
Investment trust insider on infrastructure – James Carthew: Why investors see PINT half full in infrastructure beats me We are fully into the results season for investment companies with 31 December year ends. Amongst these are the infrastructure funds BBGI Global Infrastructure (BBGI) and International Public Partnerships (INPP). I scoured both their statements last Thursday […]
by Faith Glasgow from interactive investor, 28th March 2023: Share buybacks are used by investment trust boards to reduce the number of shares in circulation, as a mechanism for controlling the trust’s share price discount to net asset value (NAV)… But how far does that work in practice?.. A recent report by broker Numis notes […]
Investment trust insider on debt funds – James Carthew: Float your eye over debt funds As interest rates continue to climb, the future returns available from debt funds are looking more interesting. However, the picture is clouded by concerns about defaults. Some closed-end funds that should probably be raking in new money from investors are […]
