The Renewables Infrastructure Group (TRIG) will present a “fulsome update on strategy” at a capital markets seminar in May, one month before shareholders vote in its first continuation vote at the annual general meeting in June. Announcing TRIG’s annual results, chair Richard Morse hoped this would “give investors the opportunity to support the company’s long-term future […]

Pantheon International (PIN), the £1.5bn private equity fund under pressure from activists Metage and Saba, is looking to improve performance by refocusing on its top 25 external managers. Following “detailed strategic analysis”, Pantheon continues to believe that private equity remains an attractive asset class but has decided a “significant reduction” is necessary in the number […]

Greencoat UK Wind (UKW) has promised to sell more assets, buy back more shares while reducing borrowing after another “challenging” year delivered a 4.9% loss to shareholders. However, in a sign of the conflicting pressures the £2bn alternative income fund is under as it faces another continuation vote in two months, the investment company said […]

JP Morgan Asset Management (JPMAM) has added a Europe strategy to its range of actively managed exchange-traded funds (ETF) using call options to generate higher income. The JPMorgan Europe Equity Premium Income Active UCITS ETF (JEPE) is managed by Hamilton Reiner, the firm’s chief investment officer for US core equity and head of US derivatives. […]

Diageo (DGE), the struggling Guinness to Johnnie Walker drinks giant, has halved its dividend in a blow to equity income funds such as Nick Train’s Finsbury Growth & Income (FGT). New chief executive Dave Lewis said the £39bn company’s board had taken the difficult decision to reduce the pay-out in order to strengthen its balance […]

Augmentum Fintech (AUGM), the growth capital fund struggling on a 45% discount, has agreed a £185.7m cash bid from Norwegian buyout group Verdane of 111p per share and a 27% premium to yesterday’s closing price of 87.4p. Shares in the investment trust launched eight years ago to back start-ups looking to shake up financial services […]

Home REIT (HOME), the former homeless accommodation provider that is the subject of a fraud investigation by the police, has published its 2025 results. It says talks announced in November with Patron Capital over a possible £123m sale of 700 properties continue. During the year to 31 August, AEW, the fund manager in charge of […]

In another contraction for the investment company sector, Diverse Income (DIVI), the £278m UK equity income trust run by Premier Miton fund managers Gervais Williams and Martin Turner, will liquidate and offer shareholders a 100% cash exit and rollover into their open-ended Premier Miton UK Multi Cap Income fund. As reported by QuotedData earlier this […]

Unite (UTG), the student accommodation provider that completed the acquisition of rival Empiric last month, saw its shares slide 11% to 495p yesterday as annual results showed a further deterioration in bookings with 68% of rooms (excluding Empiric) sold for 2026/27 compared to 71% a year ago. Engagement with students had been positive in recent […]

Valhalla, the investment vehicle of Preqin founder Mark O’Hare (pictured), has increased its stake in HgCapital (HGT) from 7.2% to 8% as shares in the £1.9bn software focused private equity trust continue to struggle over concerns about the impact of artificial intelligence (AI) on its companies. Valhalla bought over 3.9m shares last Thursday to take […]

Having extricated itself from the grip of Saba Capital and gobbled up rival European Assets Trust (EAT) last year, European Smaller Companies Trust (ESCT) sounds confident as it looks ahead to the rest of 2026. ESCT, the biggest trust in its sector following the EAT merger that’s lifted its market value to £779m, made a 7.7% […]

The Investment Company (INV), one of the oldest but smallest investment trusts with a market value of just £6.5m, is changing fund manager. Chelverton Asset Management (CAM), manager of the £31m Chelverton UK Dividend (SDIV) trust, has relinquished the mandate for the UK smaller companies minnow after less than three years following a strategic review […]

BlackRock Frontiers (BRFI) has taken a knock but will survive after holders of 13.7% of shares in the £381m investment trust elected to sell in the five-yearly 100% tender offer announced in December. Nearly 25.9m shares were validly tendered and will be put into a tender pool with investors receiving net asset value minus costs […]

Impax Environmental Markets (IEM) has passed the first hurdle in its effort to escape the clutches of Saba Capital, though, like Herald (HRI), the other investment trust being stalked by the activist hedge fund, its future remains uncertain. Yesterday the unique £831m London-listed investment company got almost unanimous approval from the 38.9% of its shares […]

US funds group Alliance Bernstein has received European regulatory approval for three global active exchange-traded funds (ETFs) covering credit, equities and a disruptor theme. The AB SICAV I – Global Corporate Bond Portfolio UCITS ETF, AB SICAV I – Global Research Advanced Equity Portfolio UCITS ETF and AB SICAV I – Global Disruptors Portfolio UCITS […]

Herald (HRI), the £1.2bn global technology trust in a fight for survival with Saba Capital, has complained to the Financial Conduct Authority (FCA) about the actions of its 31% shareholder, which it “deplores”. Saba, an activist hedge fund with stakes in dozens of UK investment companies, was pushing to take control of Herald by “a […]

Saba Capital, the scourge of UK investment companies, has joined efforts to throw a lifeline to investors stuck in three US listed private credit funds run by Blue Owl which have been hit by the recent sell-off in software companies. Saba, the New York-based activist hedge fund, has joined with Cox Capital Partners, a provider […]

Well over half, or 58.6%, of Smithson (SSON) shareholders have opted to take cash rather than roll over into the new open-ended Smithson Equity Fund. In an update on the liquidation of the £1.5bn global smaller companies investment trust announced in November, Smithson said holders of 58.6%, or over 62.9m, of its shares had chosen […]

Chrysalis (CHRY) has denied its fund managers’ claim that dismissing them will endanger its biggest holding in Starling bank. On Friday, in an angry response to the investment company serving notice on them, fund managers Richard Watts and Nick Williamson said the move risked the fund’s recently acquired seat on the board of Starling, a […]

Abrdn European Logistics Income (ASLI) will complete its wind-down after shareholders overwhelmingly voted against proposals from Polish logistics group DL Invest, an 18% shareholder, which wanted to replace Aberdeen as fund manager and resume the listed fund’s investment activities. Nearly three quarters, or 72.6% of shares, were voted in the general meeting requisitioned by DL […]

Fidelity Special Values (FSV) fund manager Alex Wright has told The Times that this month’s “AI scare” has created some of the best investment opportunities since the 2020 pandemic. While he believed that some of the sell-down in highly-rated stocks such as London Stock Exchange Group (LSEG), Relx (RELX) and Experian (EXPN) was “a valid […]

Chrysalis Investments (CHRY) fund managers Richard Watts and Nick Williamson have hit back at the board of the growth capital fund after it served six-month protective notice on them and criticised the pair for a lack of development in their business since spinning off from Jupiter Asset Management. Announcing an extraordinary general meeting to approve […]

The consolidation trend has moved to BlackRock with its Throgmorton (THRG) small-cap trust agreeing to merge with the larger BlackRock Smaller Companies (BRSC). Shareholders will be offered 38% and 28% cash exits in both investment trusts respectively at 1% discounts to net asset value. Saba, the activist holding 17.8% of BlackRock Throgmorton and 10.4% of […]

Valhalla Ventures, the holding company of Preqin founder Mark O’Hare, has lifted its stake in HgCapital (HGT) for a fourth time to 7.2% from 6.4%. The Jersey-based company bought again on Tuesday  and now holds almost 33m shares which at almost 439p give him a stake worth around £145m in the £2bn investment trust investing in the private equity […]

For the second year in a row, BH Macro (BHMG), the £1.3bn Brevan Howard hedge fund, has won the backing of a big majority of its sterling shareholders to continue. Over 96% of votes at a sterling share class closure meeting held today were cast against discontinuation. Participation was high with 71.7% of sterling shares […]

Rights and Issues (RIII), the £106m UK smaller companies trust struggling on a 19% discount, has taken a step to maximise its chance of reinstating desperately needed share buybacks. A vote to resume share buybacks, which was blocked twice by a big shareholder last year, will be presented as an ordinary as well as a […]

Invesco Global Equity Income (IGET), the best-performing trust in its sector over five years, will retain over 96% of assets in Franklin Global (FRGT) following a shareholder vote on the merger announced in November.  Holders of 46.28m FRGT shares, 96.3% of the total, yesterday agreed to roll over their investment into IGET, which is trading […]

Pantheon International (PIN), the £1.6bn private equity trust under pressure from activist investor Metage over its 28% share price discount, has cut the fund management fee it pays by an estimated 19%. From 1 June the company will pay Pantheon Ventures a flat rate of 1% of net asset value, which stood at £2.2bn at […]

Valhalla Ventures, the holding company of Preqin founder Mark O’Hare, has lifted its stake in HgCapital (HGT) for a third time to 6.4%. The disclosure came yesterday as the private equity trust fell as Investec reversed the “buy” rating slapped on the shares two weeks ago when they stood at a two-year low. Jersey-based Valhalla […]