Update: Shares in SEGRO (SGRO), the £10bn European logistics investor, are in focus after Prologis (PLD), the world’s largest industrial real estate investment trust, launched a hostile £12.6bn bid, appealing directly to shareholders with an all-share offer rejected by the SEGRO board yesterday. SEGRO shares jumped nearly 19%, or 135p, to 881p, but below the […]

Janus Henderson technology fund manager Richard Clode is to take full control of Bankers’ (BNKR) investments as the £1.4bn global equities trust abandons its regional structure ahead of the retirement of former lead manager Alex Crooke. Crooke, a former head of equities for EMEA and Asia Pacific at Janus Henderson, has managed Bankers for 23 […]

Schroder European Real Estate (SERE), a £78m REIT struggling on a 40% discount, is to wind down, over the next two-to-three years saying its assets can be sold for more than the share price implies. “Despite strong property performance and effective corporate management, we have advised the board that a managed wind-down is the most […]

Primary Health Properties (PHP) has confirmed reports that it is in advanced talks with an investor regarding using its private hospital portfolio to seed a new joint venture. “As previously announced, PHP has been exploring a range of strategic options to enhance the long-term value of the private hospital portfolio, including potential joint venture arrangements […]

JP Morgan Asset Management, the investment arm of the US’ biggest bank, has launched two new Dublin funds: one an international portfolio excluding the US for investors looking to reduce their exposure to Silicon Valley tech giants; and a global fund extending its $1.2bn higher-active equity range. The JPM Global ex US Research Enhanced Index […]

IP Group (IPO), the £581m early-stage investor in university spin-off companies, has rejected a bid approach from Railpen, the £34bn railways pension scheme. Railpen, which has invested in IP Group since 2019 and holds an 18.4% stake, yesterday published an offer of 69.7p per share, including 59p cash, with an additional 5p per share if […]

JPMorgan European Growth and Income (JEGI) has underlined why European Opportunities Trust (EOT) last month chose it as the main rollover option for shareholders in its wind-down with annual results boasting a 20.1% investment return for the year to 31 March.  JEGI’s advance in net asset value beat the MSCI Europe ex-UK’s 14.8% return by […]

RTW Biotech Opportunities (RTW) and International Biotechnology Trust (IBT) have both bagged a further gain from the M&A wave sweeping their sector after US drugs giant AbbVie swooped on portfolio holding Apogee Therapeutics with a $10.9bn cash bid that bolsters its treatment pipeline for inflammatory ‌diseases like atopic dermatitis and asthma. Shareholders in the Nasdaq-listed […]

M&G has launched its fifth active ETF with a Dublin-based fund focused on top-rated corporate debt known as collateralised loan obligations. The euro-denominated M&G AAA EUR CLO Active UCITS ETF (MNGA) will invest at least 80% in triple A-rated CLOs with the remaining 20% limited to highly graded CLOs rated AA or above.  Matt Wardle, […]

Polar Capital Technology (PCT), the best performing investment trust over five years, took some profits last month and adopted a more defensive posture as a broadening rally in artificial intelligence (AI) stocks pushed its shares 18% higher and fund managers Ben Rogoff and Alastair Unwin made room for SpaceX in their portfolio.  Rogoff told Citywire […]

Global inflows into exchange-traded funds (ETFs) hit a record $1.07trn in the first five months of the year with active ETFs capturing 38.5% of new money, according to data provider ETFGI.  Building on last year’s momentum, active ETFs drew in $411.75bn from January to May, almost double the $220.5bn gathered in the same period last […]

NextEnergy Solar (NESF) has appealed for shareholders to vote for the company’s continuation at its annual general meeting (AGM) in August saying it is taking “decisive action” to narrow the 38% share price discount. In its annual results the £271m investment company said talks were underway with potential buyers for the first 45MW of 120MW of assets lined […]

Pantheon Infrastructure (PINT) has agreed to invest $55m (£41m) in Terra-Gen, a US renewable energy platform, through a co-investment vehicle managed by Igneo Infrastructure Partners, an Australia-based global fund manager owned by Mitsubishi UFJ Financial Group in Japan. The developer and operator of utility-scale solar, wind and battery storage infrastructure has its main operation in […]

Utilico Emerging Markets (UEM) has celebrated its 20th anniversary with a strong year for performance and the declaration of a 2.5p per share special dividend on top of shareholders’ 30.2% total annual return. Fund managers Charles Jillings and Jacqueline Broers delivered a 25.9% total underlying investment return for the year to 31 March that lagged […]

A defence-focused ETF has topped the latest weekly flow rankings in Europe, underlining continued investor demand for thematic exposure to aerospace and defence stocks. The iShares U.S. Aerospace & Defence UCITS ETF (DFCU) attracted €427.1m of net inflows during the week from 8 to 12 June 2026, making it the most popular European-listed ETF over […]

Marc van Gelder, chair of JPMorgan European Discovery (JEDT), will step down next month after nine years on the board, pleased that the change in fund managers he oversaw two years ago has turned round performance. Annual results show the £599m smaller companies trust run by JP Morgan portfolio managers Jonathan Ingram, Jack Featherby and […]

Cordiant Digital Infrastructure (CORD) is poised to enter the FTSE 250 after delivering a second year of strong returns with the shares continuing to rerate in anticipation of the returns from its big investment in datacentres. Annual results for the year to 31 March show the European and US portfolio generated a total underlying return […]

Invesco Asia Dragon (IAD) has hiked its dividends for the current financial year to 30 April 2027 by 21.5% to 19.2p per share reflecting the “significant increase” in returns the £1bn investment trust made in the last financial year and its policy of paying out 4% of net assets in quarterly distributions. The first interim […]

Ed Warner, chair of Foresight Environmental Infrastructure (FGEN), has announced he is stepping down after four years on the board as the company published its first set of annual results since re-setting its strategy a year ago. Warner, who will leave at the annual general meeting on 17 September, will be succeeded by senior independent […]

Partners Group Private Equity (PEY), a £576m investment company struggling with performance and a chronic 28% share price discount, is offering shareholders a 30% exit through a new class of realisation shares. The company, whose unquoted investments are run by Swiss fund manager Partners Group, has proposed a dual share class structure giving shareholders the […]

Aberdeen New India (ANII) has moved closer to holding a 25% tender offer next year after underperforming in the year to 31 March. Excluding the impact of capital gains tax, the £304m investment trust reported a 20.3% drop in net asset value compared to the 15.3% decline in the MSCI India index. Shareholders emerged with […]

Saba Capital has moved quickly to urge the new board of Impax Environmental Markets (IEM) to appoint a new fund manager in place of Impax Asset Management. The US activist hedge fund, which holds over 31% of the shares following the recent exit tender offer the former board offered shareholders as an escape route from […]

Fund manager Dan Whitestone has left BlackRock just two months after the Throgmorton investment trust he ran merged with BlackRock Smaller Companies (BRSC). BRSC said Whitestone, who had become co-manager of the £791m trust, had “decided to leave BlackRock to take some time away from the industry”. Roland Arnold, who was the trust’s manager before […]

Residential Secure Income (RESI) has made a major advance in its managed wind-down and Social Housing REIT (SOHO) taken a big step in its recovery strategy under Atrato after the former agreed to sell the latter its retirement property portfolio for £108.3m. SOHO will pay RESI £45m in cash and around £62.3m in new shares […]

Activist hedge Saba Capital has written a second open letter to the shareholders of Workspace Group (WKP), urging them to support the election of a new board and for the flexible office space provider to undertake a three-stage wind-down strategy. Acknowledging that its approach to Workspace had “evolved” as it built up a 24.7% stake […]

Impax Environmental Markets (IEM) has conceded defeat in its battle with Saba Capital, acknowledging that the activist hedge fund, which holds over 31% of its shares after the recent exit tender offer, will succeed in replacing the board at the annual and extraordinary general meetings being held today. Chair Glen Suarez said: “And here we […]

JPMorgan India Growth & Income’s (JIGI) effort to improve performance before a make-or-break tender offer in 2028 has been frustrated by the war in Iran and the sell-off of software stocks, but with valuations attractive and the Strait of Hormuz set to reopen this week the outlook for the £376m investment trust is improving.  Half-year […]

SDCL Efficiency Income (SEIT) has suspended dividends while it reduces debts which had increased to 71.9% of net asset value above a 65% limit. The announcement from the former 14%-yielder came in a circular for a meeting on 10 July for shareholders to approve the managed wind-down proposed in April. Its shares tumbled 25%, or […]

JPMorgan Asset Management has merged a $1.6bn mutual fund into a newly created active ETF, in a move that underlines the growing role of fund conversions in Europe’s active ETF market. The JPM Global Research Enhanced Index Equity Paris Aligned Fund has been merged into the JPM All Country Research Enhanced Index Equity Paris Aligned […]