By Val Cipriani, Investors’ Chronicle, October 10, 2023: Ruffer Investment Company (RICA) has struggled this year, leaving investors wanting on its promise of “consistent positive returns, regardless of how the financial markets perform”. However, the popular trust’s managers have recognised their mistakes, and have been in similar situations before, raising hopes that the underperformance is […]
by Kyle Caldwell from interactive investor, 10th October 2023: The 15-year anniversary of the collapse of Lehman Brothers, which sent shockwaves through global stock markets, recently passed. Prior to the largest bankruptcy in US history came the credit crunch. This put paid to over-borrowed banks such as Northern Rock. Then came the full-blown banking crisis […]
Investment Week, 10 October 2023: It has been a year of meticulous productivity and many successes for India, the world’s fifth largest economy, and there are still more than two months to go. 2023 has so far seen the country celebrate a milestone in space exploration, bolster its position as an international manufacturing hub and […]
James Carthew: I’ve bought DGI9 but I’m voting against Hipgnosis It feels sometimes as though an all-pervading gloom has descended on the investment companies’ sector as share price discounts continue to widen. It does not seem to matter how often you point out the illogicality of share prices (as I did in last week’s article), […]
Faith Glasgow, AIC Compass Magazine, October 2023: Interest rate rises took a breather in September, as the Bank of England narrowly opted to keep the base rate at 5.25% for a second month on the back of a further decline in inflation in August. It was the first break in the UK’s rising rate cycle […]
by Jennifer Hill from interactive investor, 3rd October 2023: As the old adage goes, one must concentrate to build wealth and then diversify to protect wealth. However, the benefits of diversification can diminish rapidly after you reach around 30 stocks. This concept can be traced back to a paper published by Lawrence Fisher and James […]
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 […]
