Good stock picking by fund managers Oleg Biryulyov and Luis Carrillo enabled JPMorgan Emerging Europe, Middle East & Africa Securities (JEMA) to deliver a 25.5% underlying investment return in the year to 30 October. This beat by 6% the 19.5% return from its benchmark, the S&P Emerging Europe, Middle East & Africa BMI Net Return […]

Fidelity International has added to its active fixed income exchange-traded fund range with the launch of the Fidelity USD Corporate Bond Research Enhanced UCITS ETF (FBIU) and the Fidelity EUR Corporate Bond Research Enhanced UCITS ETF (FBIE). The ETFs will initially charge a total expense ratio (TER) of 0.03%, or three basis points, for six […]

Greencoat UK Wind (UKW), the only renewables fund linking dividends to the retail prices index (RPI), has switched its payouts to the lower CPI inflation measure after the government changed its indexation policy towards the sector. This is a response to yesterday’s announcement by the Department for Energy Security and Net Zero that it would […]

3i Group (III) shares hit a two-month high after relieved investors welcomed news of a positive start to the year for Action, the European discount retailer that accounts for over two thirds of the private equity giant’s portfolio. Shares in the FTSE 100 firm jumped 10.5%, or 331p, to £34.78, clawing back over a third […]

Patria Private Equity (PPET) achieved its best underlying performance in three years in the 12 months to 30 September, annual results show. The £941m investment trust generated a total net asset value return of 10.6% from its holdings in private equity funds and stakes in unquoted companies. That was ahead of the modest 5.4% and […]

Saba Capital turns its attention to Henderson Smaller Companies (HSL) with the activist doubling its stake to 10.2%. Its trade on Monday saw the hedge fund buy shares as well as swaps to increase its position in the £538m investment trust standing on an 8% discount. That was two days before yesterday’s half-year results. HarbourVest […]

Shares in listed renewables funds rose today after the government announced it would take the least damaging option in changing the inflation link in its incentive payments. Publishing its response to the indexation consultation it launched in November, the Department for Energy Security and Net Zero said it had opted for a simple, immediate switch […]

British Land (BLND), the £4bn, FTSE 100 real estate investment trust has made a recommended cash and share bid for Life Science REIT (LABS) agreeing to pay 14.1p per share in cash and 0.07 of its shares in a deal that values the beleaguered property fund at £150m. It means LABS shareholders will receive around […]

BlackRock Income & Growth (BRIG) fund managers have corrected their underweight to aerospace and defence stocks after this was a main factor in the £43m investment trust underperforming in the year to 30 October. Annual results showed an underlying investment return of 14.3% against the 22.5% total return from the FTSE All-Share index. The latest […]

The showdown between Abrdn European Logistics Income (ASLI) and DL Invest Group, its largest shareholder, will take place in London on 20 February. DL has tabled resolutions to have itself appointed fund manager and the company’s wind-down stopped. ASLI, which has published a circular for the meeting, urges shareholders to vote against DL saying the wind-down […]

Ground Rents Income (GRIO) sank to an all-time low today after the prime minister set a £250 limit on the annual charge that leaseholders pay freeholders. The cap is part of major changes to home ownership published by the government in a draft Leasehold and Commonhold Reform Bill. Schroders-managed GRIO, which invests in ground rents, […]

Citi has closed its Velocity white-label ETF platform less than a year after launching the challenger to specialist providers HANetf and Waystone. A spokesperson for the bank told ETF Stream, which first reported the news: “Citi’s markets business made a strategic decision to retire its Citi Velocity ETFs platform in Europe following a review of market conditions. […]

European active ETFs enjoyed a strong 2025 with trading up 95% on the previous year, according to stock market data provider xyt. The growing range of actively managed exchange traded funds saw more than €450m (£390) in daily activity, with funds growing 38% or €23bn, according to a Markets Media report. Compared to 2020, there […]

Ruffer (RICA), the £909m “all-weather” multi-asset fund, recovered its stride in the second half of last year as “significantly lower volatility” in world markets helped it overcome its underperformance in the first six months of 2025. The investment company, whose assets are run by Ruffer fund managers Alexander Chartres, Jasmine Yeo and Ian Rees, made […]

UK’s biggest online share dealing platform overhauls its charges; Gore Street Energy Storage appoints two more directors; and high-yielding CVC Income & Growth maintains the dividend target of its sterling and euro shares. Hargreaves Lansdown has overhauled its fees and charges. The UK’s biggest online share dealing platform cut its annual platform charge from 0.45% […]

The sterling shares of BH Macro (BHMG) spiked at the end of trading on Monday after Brevan Howard, manager of the £1.3bn London-listed hedge fund, said it was in the process of launching a new private fund that could buy its discounted shares. Having edged slightly higher, the share price rose nearly 2% from 406p […]

Activist Lakestreet Capital has won the battle for Palace Capital (PCA), with the founder and chairman of the Swiss firm both joining the board of the £42m property investment company reaching the end of a three-and-a-half year wind-down. Their arrival was announced with news on Friday that Palace Capital’s two board directors, executive chair Steven […]

Impax Environmental Markets (IEM) publishes the circular for its proposed 100% continuation tender offer to get Saba Capital to sell its 20.7% stake close to asset value and leave the unique listed fund for shareholders who want to remain invested. The tender requires over 75% of votes cast at a general meeting on 23 February. […]

Baillie Gifford US Growth (USA) has defended its decision to almost halve its investment in SpaceX shortly before the valuation of Elon Musk’s rocket company doubled to $800bn last month. In interim results for the six months to 30 November, chair Tom Burnet said “the position had grown to represent more than 10% of the […]

JP Morgan, the dominant player in the European active ETF market, has issued a notice to shareholders informing them that they are removing a long-standing constraint on investment in defence companies. Previously, the 13 active ETFs concerned – along with a range of other funds – were restricted to a 10% revenue threshold for conventional […]

Bluefield Solar Income (BSIF), the £403m renewable infrastructure fund that put itself up for sale in November, has said over 90% of its development projects have received grid connection dates from the National Energy System Operator (NESO). Of these, 600MW, or half of BSIF’s 1.3GW pipeline, have been given Gate 2, Phase 1 offers by […]

HarbourVest Global Private Equity (HVPE), one of the largest listed funds in its sector after 3i Group (III), is facing calls to wind down or sell itself from top 10 shareholder Asset Value Investors. The activist manager of AVI Global (AGT) and MIGO Opportunities (MIGO) investment trusts says it will not support the continuation vote […]

Residential Secure Income (RESI), the £106m real estate investment trust that entered a managed wind-down in October 2024, is struggling to sell its assets at the valuation in its books, although both the retirement and shared ownership portfolios are under offer with potential purchasers doing due diligence after a competitive bidding process. In annual results […]

Activist Saba Capital has taken a position of over 5% in GCP Infrastructure (GCP), sending the debt fund’s highly discounted shares 2.5% higher. Adding to its sprawling list of stakes in UK-listed investment companies, the hedge fund this morning disclosed a 5.3% equity holding through total return swaps, a form of derivative. GCP shares added […]

Taylor Maritime (TMI), the specialist dry bulk shipping company, is to make a compulsory purchase of 46% of its shares on 30 January in order to complete the $143.4m return of capital announced last month following the sale of a “large portion” of its fleet. The dollar shares will be bought at a price of […]

Correction: Smithson is changing its name to “SNINVC” but the open-ended investment company that will succeed it will be called Smithson Equity Fund. Smithson (SSON) is to change its name to “SNINVC” as the £1.6bn global smaller companies investment trust prepares to liquidate and convert to an open-ended investment company (OEIC) as part of the […]

Sarah Arkle, chair of Vietnam Enterprise Investments (VEIL), has stepped down a day after its heavily oversubscribed 10% tender offer. Arkle, a former Threadneedle fund manager who joined the VEIL board four years ago and became chair in June 2024, announced her immediate departure yesterday having informed the market on Tuesday that holders of 68% […]

CC Japan Income & Growth (CCJI) predicts 2026 could be another strong year for Japan as corporate governance reform, technological advances and the return of inflation continue to unlock value and boost asset prices.  Chair June Aitken and lead fund manager Richard Aston struck an upbeat tone as the £325m investment trust celebrated a successful […]

Literacy Capital (BOOK), the £236m UK private equity fund on a 22% discount, will pay off its remaining debts after selling Tyrefix, a provider of plant tyre repair services, to Nordic rival Citira AB. BOOK is selling its entire stake in the company, which it first backed in November 2020, for £14.7m in cash at […]