Annual results from GCP Infrastructure (GCP) have disappointed shareholders waiting for a big disposal that could fund a significant return of capital and reward them for holding on to stock standing 30% below net asset value (NAV). The £590m investment company, however, did say that its investment adviser Gravis Capital was “actively progressing transactions” that […]
JPMorgan Asia Growth & Income (JAGI) sounds confident as it prepares for its next three-yearly continuation vote in February after a strong set of annual results following the reorganisation of its fund management team last year. Rebounds in China, Singapore, Taiwan and Korea in the second half of the financial year more than offset problems […]
TwentyFour Select Monthly Income (SMIF) is considering upping some of its monthly dividends after another strong year saw the 8%-yielder once again surpass its 6p per share payout target. The £288m debt fund, which mostly invests in floating rate assets, has paid shareholders 0.5p a month for most of its eleven-year life, topping up the […]
Activist hedge fund Saba Capital doubled its position in SDCL Energy Efficiency Income (SEIT) to 10% on Tuesday, the day after its shares tumbled 18% after the company said in half-year results that it was looking at all strategic options, prioritising debt reduction and warned it may not recommend shareholders vote for the company’s continuation next year. […]
Jupiter and Goldman Sachs have today expanded their active ETF ranges following recent acquisitions enabling them to offer more to the rapidly growing segment of the exchange-traded fund market. Jupiter JOGS on Jupiter Asset Management has launched the Jupiter Origin Global Smaller Companies UCITS ETF (JOGS) on the London Stock Exchange and Swiss SIX exchange. […]
Ruffer (RICA) fund managers have flagged UK housebuilders as attractive now that Budget uncertainty is out of the way. In their monthly update, Jasmine Yeo, Ian Rees and Alexander Chartres, managers of the £868m defensive, multi-asset fund, said the overall UK stock market looked good value compared to global peers. “One area of opportunity is […]
3i Infrastructure was a well-deserved winner in this year’s QuotedData Investors’ Choice Awards, and it won an award last year too. What is it that makes it a popular choice for investors who want to diversify their portfolio with exposure to alternative assets and who also want income? We talked to James Dawes, chief financial […]
Northern Venture Trust (NVT), Northern 2 VCT (NTV) and Northern 3 VCT (NTN) have reopened to subscriptions for the 2025/26 tax year as investors rush to take advantage of 30% income tax relief before a Budget cut to 20% takes effect next April. The companies, whose portfolios are run by Mercia Asset Management and recently […]
Polar Capital Technology (PCT) has enjoyed one of its best first half performances with net assets leaping 66% in a market rebound accelerated by the rapid expansion in artificial intelligence to which its portfolio is fully exposed. Net assets excluding borrowing surged from £3.8bn at 30 April to £6.1bn at 31 October as the investment […]
Fidelity China Special Situations (FCSS), the biggest and best performing of three London-listed China funds, combined excellent returns and outperformance in its latest half year. Interims for the £1.5bn investment trust managed by Fidelity’s Dale Nicholls showed it made a 29.7% total underlying return in the six months to 30 September that translated to a […]
Schiehallion (MNTN), the £890m Baillie Gifford growth capital fund, cleared its path for a main market listing tomorrow with 98% of shareholder votes in favour of changes to its articles of association and the issue of restricted voting “B”-shares. Proxy vote adviser ISS had questioned the new share class on corporate governance grounds, but a […]
Nervousness in the lead up to the budget saw real estate share prices drift over much of the month, before recovering in the days following the announcement, ending the month at a median fall of just 0.2%. Meanwhile, the crisis deepens at Macau Property Opportunities (MPO) with its share price plummeted after failing to garner […]
Molten Ventures (GROW) has taken £17.5m in gains from ICEYE, the Finnish satellite operator which it says recently secured a €2.4bn (£2.1bn) valuation in a €150m fund raising. The £856m investor in unquoted, high growth technology companies said after the partial realisation its remaining holding in ICEYE is worth around £85m, up from £74m at […]
Baillie Gifford Shin Nippon (BGS) will provide shareholders with a 100% exit opportunity in five years’ time under a revision to the tender offer plan announced last year. The board of the poorly-performing Japanese smaller company growth fund said the original plan for a 15% tender offer did not give its new fund managers sufficient […]
The FCA has published its new consumer composite investment (CCI) rules, which are designed to govern how CCIs interact with investors. Effectively, this is the resolution that we have long been waiting for on cost disclosures. Many in the investment companies sector had lobbied for closed-end investment funds to be outside the scope of this […]
The Association of Investment Companies (AIC) and cost disclosure campaigners have welcomed the City regulator’s confirmation that UK-listed closed-end funds will have the flexibility to present their expenses clearly and fairly under new “consumer composite investments” (CCI) rules coming in 18 months’ time. Responding to the huge level of feedback from 115 investment companies and […]
November, a month of fireworks, saw explosive gains from several investment companies but other London-listed funds fizzled out with big falls. Amid all the noise, there were several significant moves in share price ratings. Best performing investment companies November’s biggest share price risers (left) and biggest gainers in net asset value (right). Fund Share price […]
BlackRock World Mining (BRWM) has sold its BHP Brazil Royalty Contract to Gold Royalty Corp for $70m, at a 105% premium over the current value of $34.1m. The uplift boosts the investment trust‘s net asset value (NAV) by 1.8% which will be reflected in tomorrow’s daily NAV statement. The company will also receive all revenue […]
The board of SDCL Energy Efficiency Income (SEIT) has warned it may not recommend shareholders vote for the company’s continuation next year after a six-month period that has seen debt levels jump above a 65% limit, partly after a small fall in its portfolio, and its shares continue to trail on a steep discount to […]
The wreaths are up, and the mince pies are in the oven. And in the investment world too we have our own end-of-year traditions. Foremost amongst these is the “Santa rally”, specifically the old lore that the market invariably performs strongly over the festive period. But is it true? And if so, can trust investors […]
Investment manager Tom Slater discusses how Scottish Mortgage’s portfolio companies are driving global change across AI, digital platforms, and electrification. As with any investment, your capital is at risk. Performance The six months to 30 September 2025 have been a period of meaningful progress, not only in markets, but more importantly, in the companies leading […]
Annual results from Schroder European Real Estate highlight the challenges for incoming chair Phil Redding and fund manager Jeff O’Dwyer, Custodian Property Income reports good half-year results and self-storage group Big Yellow confirms takeover talks with Blackstone have ended. Schroder European Real Estate (SERE), the £83m listed property fund weighed down by a French tax […]
Barings Emerging EMEA Opportunities (BEMO) is hiking dividends and streamlining its investments as the £87m investment trust looks to win back the large minority of disaffected shareholders who voted against the company’s continuation in October. Outgoing chair Frances Daley said BEMO had delivered an “outstanding” annual result with a 28.3% investment return for the year […]
Edinburgh Worldwide (EWI) has issued a new statement as it hits back against Saba’s latest requisition notice. The board says that it recommends that shareholders take no action and await a further announcement from the company. The chair Jonathan Simpson-Dent had this to say:“Saba has for a second time launched a power grab calling for […]
In results for the 12 months ended 30 September 2025, the board of Schroder AsiaPacific (SDP) observes that the trust has delivered average annual NAV returns of 1.5% over the past 10 years – well ahead of the average 9.8% return on its benchmark. More recently, NAV returns have been marginally behind the index (+15.7% […]
Julian Cane, the well-regarded manager of CT UK Capital and Income (CTUK), plans to step down as manager of the trust with effect from 1 January 2026. He will be succeeded by Dominic Younger. Over Julian’s tenure, the NAV total return has been 535% and the share price return 567%. For contrast, the FTSE All-Share […]
PRS REIT (PRSR) has published a circular ahead of a liquidation vote planned for 5 January 2026. The sale of the trust’s portfolio is expected to complete on 11 December 2025. That means that the estimated amount available for distribution will be close to the NAV per share of 114.9p. If you are a shareholder […]
As one of the co-managers, Spencer Adair, approaches his retirement next March, Monks Investment Trust’s (MNKS) interims to end October 2025 show it outperforming the World Index in NAV terms and benefitting from a narrowing of its discount. The NAV return for the period was +29.2% and for the share price +35.2%, which both compare […]
Finsbury Growth & Income (FGT) has released annual results for the year to 30 September 2025, marking a centenary year overshadowed by another period of weak performance and material underperformance versus its benchmark. NAV total return was essentially flat at -0.1% (2024: +8.2%), while the share price delivered a total return of 2.3% against a […]
Oakley Capital Investments (OCI) has confirmed that it will contribute around £8m indirectly to the acquisition of Paraty Tech, following Oakley Capital Fund VI’s agreement to invest in the Spanish hotel demand-generation specialist. The commitment represents OCI’s share of Fund VI’s exposure to the transaction. Oakley says that Paraty Tech, which was founded in 2012 […]
