Given that real estate values are inversely correlated to interest rates, it is no surprise that the sector was among the poorest performers following the outbreak of war in Iran. March 2026 ranks among the worst single month performances by real estate equities in recent times – sitting alongside March 2020 (Covid) and September 2008 […]
JPMorgan Claverhouse (JCH) fund manager Anthony Lynch believes Bank of England governor Andrew Bailey is talking tough on inflation but that policy makers at Threadneedle Street are unlikely to hike interest rates to over 5% as he warned they might last week. Speaking on QuotedData’s “In The Hot Seat” show, Lynch said the Bank’s worst-case […]
Staude Capital and Asset Value Investors have built stakes in Home REIT (HOME) since the cash-laden but scandal-ridden real estate investment trust returned from a 39-month suspension on 29 April. Staude, a London-based activist, which runs the Australian-listed Global Value Fund, has been most active, accumulating 9% of the former homeless accommodation provider which holds […]
Seraphim Space (SSIT) raised £137m in its C-share offer before costs: £76.4m in the institutional placing, £45m to retail investors and a £15.1m direct subscription by a single institution. The £529m investment trust and its fund manager said they were “delighted” by the response which came in below the £350m maximum cap but was drawn […]
Manchester & London (MNL), the £360m global technology trust, has almost halved its position in Nvidia, citing problems with the AI chip maker’s rollout of its new Vera Rubin platform. Fund manager Mark Sheppard yesterday said he had made “material changes” to the portfolio with its holding in Nvidia (NVDA), the world’s most valuable company […]
Herald (HRI) has reached an agreement with Saba Capital to ensure the £1.4bn global technology trust’s survival. The activist hedge fund with a 30.7% stake has agreed to a three-year standstill in return for a 66% tender offer that will let investors take half their stake as assets and half in cash. In addition, the […]
HgCapital Trust (HGT), the £1.7bn private equity fund, says the “indiscriminate” sell-off of software stocks on fears of disruption by artificial intelligence knocked 5.4% off its net asset value (NAV) in the first quarter. Although shareholders knew their shares slumped nearly 23% to in the three months to 31 March, this is the first time […]
Royal London Asset Management is preparing to enter Europe’s active ETF market with two equity tilt products, marking the latest move by a large UK asset manager into the fast-growing ETF segment. The Royal London Global Equity Tilt UCITS ETF and Royal London UK Broad Equity Tilt UCITS ETF have been filed for registration with […]
3i Group (III), one of the big investment company fallers of the year so far, rallied more than 5% on Wednesday as the UK stock market bounced higher on reports that the US and Iran are close to a deal to end the war. The FTSE All-Share advanced 2%, or 117 points, to 5,604, up […]
Real estate stocks rebounded 3.5% on average in April following a rout in March caused by the conflict in the Middle East. London office developers dominated our list of risers, while an eclectic mix of companies made the list of fallers. Best performers in price terms (%) Hammerson 11.7 Value & Indexed Property 11.6 […]
Foresight Solar (FSFL) has a new fund manager, Will Morgan, to replace Ross Driver who left Foresight Group in December. Morgan joins as managing director of Foresight’s solar investment team. He previously led True Green Capital Management’s European business for two years until last summer and before that worked as a fund manager and head […]
Technology and emerging markets trusts bounced back strongly in April after the previous month’s setback caused by the conflict in the Middle East, but private equity and infrastructure funds dominate our list of fallers. Our two tables show the total returns, or losses, shareholders made from the 15 biggest risers and fallers in April. They […]
Chrysalis Investments’ (CHRY) three-year wind down got off to a tough start in March with the market turmoil caused by the US-led war on Iran leading to a 17% or 28.1p first quarter drop in net asset value (NAV) per share to 137.3p. In an update the £420m investment company said the decline largely reflected […]
A welcome revival of a long dormant structure It is no secret that the UK investment companies market has been shrinking for the past three years, with new capital raising proving difficult – if not impossible – in most cases. However, news of a Seraphim C share issue is injecting life into the investment companies […]
Investment Specialist Chloé Darling-Stewart explores why artificial intelligence represents a defining paradigm shift, examines the portfolio’s exposure to companies at the forefront of this transformation and outlines how Scottish Mortgage is positioned for what comes next. Capital at risk.
Pacific Assets (PAC), the £450m Asia Pacific fund rocked by the departure of its fund management team led by David Gait last August, stalled last year with zero growth in the portfolio, annual results have revealed. The 0% total underlying return in net asset value in the 12 months to 31 January lagged the 28.6% […]
Pershing Square Holdings (PSH) fund manager Bill Ackman has assured shareholders they will see the benefits of the double flotation of his investment management company and its new US hedge fund in New York, even though their shares slumped on their first day of trading this week. Pershing Square US (PSUS), a “mirror fund” that […]
Master Investor is over for another year, and I am very glad I had the chance to attend the UK’s biggest annual retail investment jamboree. As a first-timer to the show in London’s Business Design Centre, I was impressed to see a big, buzzy crowd of private investors (with over 4,000 tickets sold) gathered in […]
Schroders has expanded its European active ETF range with the launch of the Schroder US Equity Active UCITS ETF, as assets across its UCITS ETF franchise pass $2.8bn. The launch adds a US equity strategy to Schroders’ growing active ETF platform in Europe, following the group’s move into the UCITS active ETF market last year […]
Ecofin US Renewables Infrastructure (RNEW), a £26m investment trust that began a managed wind-down in January 2025, saw net asset value fall 15.9% from $61.7m to $51.9m at 31 December. This was mainly the result of the sale of its DG solar assets in March last year and the potential $30m disposal of Whirlwind wind […]
Don’t miss OCI’s Capital Markets Event which will welcome a number of speakers from across Oakley’s portfolio, including the UK’s most decorated sailor Sir Ben Ainslie, Entrepreneur of the Year Mia Drennan, and G3 founder and former MI6 agent Nick Alcock. Agenda topics will span perspectives on current private equity trends, an AI-focused session led […]
Edinburgh Worldwide (EWI) has conceded defeat in its battle with Saba Capital saying the activist hedge fund has won the support of another US fund to take its base to over 40% of the shares, meaning its three nominees to the board will be elected at the annual general meeting (AGM) today. Subject to confirmation […]
The UK Government won its fight to get its Pensions Bill through Parliament last night. However, the House of Lords extracted a number of concessions, which included allowing pension funds to use investment companies as a way of getting access to private assets. You may remember that I wrote about this in March. The main […]
The launch of a $280m SpaceX-backing “NASA” exchange traded fund (ETF) in the US has had an unexpected effect in propelling UK tech stock Filtronic to new highs. Filtronic (FTC), a County Durham based supplier of satellite communication components in which SpaceX has a 15% stake, has soared 44% this month following the launch of […]
(Update) Long-suffering shareholders in Home REIT (HOME) have seen their stakes drop a further 78.8% this morning after the scandal-hit former homeless accommodation provider returned from a 39-month share suspension. Shares that were suspended at 38p on 3 January 2023 sank around 30p to 8p after trading resumed at 7.30am. They stood at 123p in […]
Artemis fund managers Mark Niznik and William Tamworth have apologised after a poor start on Artemis UK Future Leaders (AFL), the former Invesco Perpetual UK Smaller Companies they took on from Invesco on 7 March last year. Annual results show net asset value rose 5.3% from their appointment to 31 January compared to 21.5% from […]
Seraphim Space’s (SSIT) C-share issue has received a timely boost from satellite company HawkEye 360 announcing a $2.4bn US flotation. The £528m investment trust says the initial public offer (IPO) in New York of the operator of the largest constellation of radio-frequency sensing satellites, its fourth biggest holding at 10.1% of assets, could add £11.1m […]
Vietnam Enterprise (VEIL), the largest of the three London-listed Vietnam funds, plans to hold the second of three tender offers it promised after nearly losing a continuation vote last summer. Charles Cade, the interim chair who took over the £1bn investment company in January, gave no details in the 2025 annual results but said the […]
Aquila European Renewables (AERI), the investment company whose wind-down is being overseen by Achilles (AIC) activist Robert Naylor as chair, has issued annual results reflecting a “challenging” 2025 and warning that it may have to continue selling assets below net asset value. Disposals to Aquila Capital, the fund manager, have led to the return of […]
Baillie Gifford trusts Scottish Mortgage, Schiehallion and US Growth have more than doubled their valuation of Anthropic, the Claude chatbot developer reported to be overtaking arch-rival OpenAI at $1trn. Scottish Mortgage (SMT), Baillie Gifford’s £15.1bn global flagship, said after an upwards adjustment the unquoted AI company accounted for 2.5% of net assets at Friday’s close, […]
