Fidelity International recorded net outflows from its active ETFs in the third quarter of 2026, bucking a wider trend that saw billions of dollars pour into rival products across Europe. European active ETFs attracted $13.1bn of net inflows between July and September, according to ETFBOOK data reported by ETF Stream. Equity strategies accounted for $9.5bn […]

Xtrackers is seeking shareholder approval for a wholesale overhaul of one of its smallest US equity ETFs, replacing a minimum-volatility strategy with exposure to American small- and mid-cap companies. The Xtrackers MSCI USA Minimum Volatility UCITS ETF currently tracks an MSCI index of large- and mid-cap US companies selected and weighted to reduce volatility. Under […]

Ashoka India Equity (AIE) has asked shareholders to overlook the “minor setback” of a 5.9% fall in net asset value after a difficult year exacerbated by high energy prices caused by the US-led war on Iran. The £416m investment trust outperformed the MSCI India index which fell 8.5% in the 12 months to 30 June […]

CG Asset Management has promoted portfolio manager Emma Moriarty to the investment team on its £802m flagship Capital Gearing Trust (CGT). Moriarty (above), a former senior economist at the Bank of England, will become a co-manager of the multi-asset, capital preservation fund alongside CGAM’s founder Peter Spiller and co-chief investment officer Chris Clothier. This will […]

Update: Brown Advisory US Smaller Companies (BASC) has decided to call it a day and offer shareholders a rollover into rival JPMorgan US Smaller Companies (JUSC). Concluding a strategic review that he revealed in July, chair Stephen White said shareholders would also have the option of an uncapped cash exit at 99.25% of net asset […]

Saba Capital has increased its position in Grainger (GRI), the £1.2bn residential landlord, to 9.2% from 8.9%. The activist hedge fund first disclosed a stake of 5% in June in the build-to-rent developer. Mike Ashley, founder of Frasers (FRAS), the Sports Direct owner, bought 4.2% in May. Onward Opportunities (ONWD), the £57m UK smaller companies trust […]

Fidelity International is targeting a threefold increase in its European active ETF assets over the next two years, as it looks to challenge JPMorgan’s dominance of the rapidly expanding market. The asset manager currently oversees almost $17bn in European active ETFs, making it the region’s second-largest provider. Samantha Ricciardi, Fidelity’s head of EMEA, has described […]

Schroder Japan (SJG) fund manager Masaki Taketsume is confident he can continue to generate attractive returns, while cautioning that performance may moderate after the £442m investment trust achieved a 41.2% total gain in the year to 31 July. The annual results showed the underlying growth in net asset value (NAV) easily beat the 29.3% rise […]

Fidelity Emerging Markets (FEML) has hailed its stunning 92.3% investment return for the year to 30 June as a “resounding vindication” of fund managers Nick Price and Chris Tennant. The total underlying return on net asset value (NAV) smashed the impressive 48.2% return from the MSCI Emerging Markets index and drove a 99.3% total return […]

HgCapital Trust (HGT) has bagged an £18m gain on the £71m sale of its stake in Gen II Fund Services. The New York-based global fund administration company has been bought for $5.1bn by private equity giant KKR from Hg, manager of HGT, General Atlantic and other minority investors. The uplift for HGT represents an increase of […]

Partners Group Private Equity (PEY) looks set to enter a managed wind-down after nearly three quarters of shareholders chose to sell their holdings in the company’s proposed reconstruction. Chair Peter McKellar said holders of 74.12% of the company’s shares had chosen to take the new realisation share class offered by his board in the summer […]

“Existential” warnings dominated the news last month. Despite that ominous overhang, technology and smaller company trusts rallied in September, but it was a tougher month for interest rate sensitive real estate and private equity funds. September’s top risers Our tables show the total one-month return from an investment company’s share price in the middle column, […]

UK-listed property shares suffered another difficult month in September as stubborn inflation, elevated interest rates and renewed pressure on bond yields continued to weigh on the sector. The average share price fell 3% in September, excluding Abrdn European Logistics Income (ASLI), whose 36.4% decline reflected capital being returned to shareholders as part of its managed […]

Sirius Real Estate (SRE), the £1.3bn Anglo-German business park investor, achieved 11.3% rent roll growth year on year in the six months to 30 September. Nearly half, or 5.1%, of this came from organic growth and the rest from £150m defence-related and self-storage investments. After repaying a €400m corporate bond in June, the group has […]

WisdomTree has launched two actively managed ETFs that use autocallables to target defined levels of return, bringing a strategy more commonly associated with structured products into the UCITS ETF market. The WisdomTree Defined Return Autocallable EUR Active UCITS ETF (DRTN) is targeting an annualised net return of 8% to 9% over the medium to long […]

Is AI the only driver of future growth, or are there other opportunities on the horizon? Scottish Mortgage managers Tom Slater and Lawrence Burns explain how patience, culture and adaptability shape their search for exceptional long-term investments. Capital at risk.

Shares in Literacy Capital (BOOK) tumbled 10% this morning after the UK private equity fund shocked investors by warning that its £24.4m investment in Cubo Work, an office and co-working space provider, was likely to be written off. The company said “several issues” had become apparent at Cubo in recent weeks, which the team at […]

Fidelity Emerging Markets (FEML) has confirmed it will not be holding a 25% tender offer after beating the MSCI Emerging Markets index in the five years to 30 September with an 82.7% total investment return versus the benchmark’s 55.7%. The £559m investment company managed by Fidelity’s Nick Price and Chris Tennant said it intended to […]

Harcus Parker, the law firm representing 800 current and former Home REIT (HOME) shareholders, has issued High Court proceedings against the former homeless accommodation provider that returned from a 39-month share price suspension in April. Confirming the launch of legal action against Home REIT, its directors as well as the company’s former investment adviser Alvarium […]

Vanguard is changing the benchmark of its FTSE Developed Asia Pacific ex Japan UCITS ETF after the rapid growth of South Korean technology companies increased concentration within the existing index. The ETF currently tracks the market-cap weighted FTSE Developed Asia Pacific ex Japan Index, but will move to the FTSE Developed Asia Pacific ex Japan […]

DWS plans active overhaul of emerging markets climate ETF DWS is seeking shareholder approval to convert its Xtrackers MSCI Emerging Markets Climate Transition UCITS ETF (XEMC) from a passive climate-focused strategy into an actively managed emerging markets fund. Under proposals put to investors, the ETF would be renamed the Xtrackers Emerging Markets Equity Enhanced Active […]

Geiger Counter (GCL), the £65m uranium fund, has decided not to follow fund managers Keith Watson and Robert Crayfourd to Tufton, choosing to remain with Manulife and CQS Investment Management. Concluding a seven-month review, the Geiger Counter board said it had revoked the twelve-month protective notice it issued to Manulife CQS Investment Management on 16 […]

Dunedin Income Growth (DIG) “has undertaken a robust in-depth review” with an external consultant of fund manager Aberdeen’s investment philosophy and process following another half year of underperformance. “The board is mindful of the impact of NAV [net asset value] underperformance and is continuing to monitor the investment manager for much needed signs of improvement,” […]

Land Securities (LAND) has launched a £500m share issue to pay for the £516m acquisition of Metrocentre in Newcastle and a £100m consolidation of its retail portfolio.  The £4.7bn real estate investment trust is raising the money in a placing to institutional investors and offer to retail investors. The price of the new shares will […]

An overweight to technology stocks helped European Smaller Companies Trust (ESCT) extend its outperformance in the first half of the year with AI winners outnumbering companies seen as “losers” in the race towards artificial intelligence.  Annual results show the £792m investment trust, its sector’s largest following a merger with European Assets last year, generated a […]

Impax Environmental Markets (IEM) has posted a 26.1% annual return, four months after Saba Capital seized control by installing a new board of directors.  Annual results today showed the £172m investment trust beat its stock market benchmark for the first time in three years, outperforming the 12.7% gain in the MSCI AC World index in […]

Ruffer (RICA) has improved the terms of the 1% annual management charge it pays its fund managers. From January the £844m defensive global portfolio will pay 1% of the company’s market capitalisation or net assets, whichever is lower. “The revised structure creates greater alignment between the company and the investment manager,” said chair Nicholas Pink. […]

3i Infrastructure (3IN) says a “productive” first half pushed cash generation above expectations with total income and non-income cash rising to £195m in the six months to 30 September, up from £122m a year ago and including a £92m distribution from Joulz, the Dutch “energy as a service” provider. This puts 3IN on track to […]