Helge Skibeli, lead manager of JPMorgan Global Growth & Income (JGGI), JP Morgan’s £3.3bn flagship investment trust, has announced he will retire in 18 months’ time. Skibeli, who is credited with reviving the 149-year-old closed-end fund when he took over seven years ago, will leave JP Morgan Asset Management (JPMAM) in February 2028 after 40 […]
CT Global Managed Portfolio Trust plans to switch to monthly dividends next year and make more use of gearing, or borrowing, as part of changes to make the one-stop investment trust shop more attractive for shareholders. The changes, which include improvements to how the trust measures its performance, came in annual results showing a good […]
Gresham House Energy Storage (GRID) grew net asset value by 14.6% in the second quarter, boosting the battery fund as its board resists pressure from activist shareholders to wind up on account of its longstanding discount, with the shares last night closing 26% below the new NAV. This gap narrowed again this morning as the […]
Seraphim New Space UCITS ETF is launched in Europe today, listing on the London Stock Exchange under a dollar share class of SPCE and a sterling share class of SERA. The SERA ticker will also be used on the Borsa Italiana in Milan, while on Zurich’s Xetra it will trade as S3RA. At the heart of […]
A 20% share price rally last month has tipped Onward Opportunities (ONWD) above £50m of assets for the first time since launch over three yeas ago. The UK smaller companies investment company, which came to market with less than £20m in March 2023, said a string of positive company results had helped propel the portfolio […]
Seraphim Space, the manager of Seraphim Space (SSIT) investment trust, will launch an exchange-traded fund tomorrow offering investors access to both public and private space technology companies. The index-tracking Seraphim New Space ETF will, according to The Times, have exposure to the “new cohort of recently listed New Space companies [which] are disrupting incumbent and […]
VH Global Energy Infrastructure (ENRG) has made the first disposal in its three-year wind-down, selling two oil storage facilities on the coast of Texas for $134m (£99m) to its fund manager Victory Hill. The £298m investment trust said the sale agreement of the facilities at the Port of Brownsville on the Texas Gulf coast was […]
New City High Yield Fund (NCYF) fund manager Ian “Franco” Francis said he and co-manager Darren Toner sold Aston Martin’s 10.375% 2029 bond after a controversial £550m debt financing in July by BlackRock’s private credit subsidiary HPS Investment Partners altered the debt’s asset backing. The Financial Times reported last month that bond holders were considering […]
For UK investors, Canada has traditionally occupied a slightly awkward position. It is one of the world’s largest developed economies, home to major banks, miners and energy companies, yet it rarely receives much attention as a standalone allocation. More often, Canada is folded into a broader “North American” portfolio dominated by the United States. However, […]
Tom Burnet, the new chair of CT Private Equity (CTPE), has predicted the £346m investment trust will see more profitable exits like the 71% uplift it made taking £17.9m on its stake in Cyberhawk when the US drone-based inspection group was snapped up for $125m in June. Burnet, who succeeded Richard Gray at the helm […]
The healthcare sector has picked up strongly over recent months as a significant beneficiary of the rotation out of crowded trades in AI and technology. We believe the mid to long-term trend is also much improved for healthcare as investors start to appreciate a variety of drivers which could support outperformance. The sector has had […]
Vietnam’s economy and the earnings of its listed companies are strengthening yet share prices have gone the other way, say Vietnam Enterprise (VEIL) fund manager Tuan Le and Craig Martin, chair of Dynam Capital, the manager of Vietnam Holding (VNH). Tuan Le points to “foreign selling and a domestic flight to bank deposits” for offsetting […]
Invesco has expanded its active ETF range with a global equity strategy that uses value, quality and momentum signals to try to outperform the broader market. The Invesco All Country World Enhanced Equity UCITS ETF has launched on the London Stock Exchange, giving investors access to an actively managed portfolio of large and mid-cap companies […]
Partners Group Private Equity (PEY) has seen its five-year annualised return fall into negative territory as it prepares to give disgruntled shareholders a 30% exit. Interim results show that six successive months of investment losses knocked 8.6% off the net asset value (NAV) of the investment company in the first half of the year, nearly […]
BlackRock American Income (BRAI) is seeking shareholder approval to issue up to 30% more shares as investor demand continues to be strong following the adoption of a systematic stock-picking approach in April last year. The investment trust will ask shareholders to vote on three separate resolutions at a general meeting on 14 September, each approving […]
Update: AEW UK REIT (AEWU) has withdrawn its all-share offer for Alternative Income REIT (AIRE) citing the opposition of Glenstone REIT, AIRE’s 25.4% shareholder and rival bidder, with the board of the target lashing out at its largest investor. “Following Glenstone’s public statement that it would not support an offer from AEWU and subsequent attempts […]
Saba Capital has followed co-activist RM Funds in demanding Gore Street Energy Storage (GSF) publish full details of the sale of two of its Irish assets last week as the hedge fund urged other shareholders back its vote for the battery fund to be wound up. In an open letter calling on shareholders to back […]
Tungsten West (TUN), the Devon-based tin and tungsten miner that has helped power the 108% one-year performance of Baker Steel Resources (BSRT), jumped another 18% yesterday after the National Wealth Fund invested £36m for a 7% stake and provided £25m in debt. BSRT rose 2.8%. Pantheon International (PIN), the £2bn private equity portfolio standing on […]
Shaires Holdings (SHR), the AIM-listed investment company offering investors access to a portfolio of unquoted technology and artificial intelligence (AI) companies, including one seeking to revive woolly mammoths, is up and running after raising $14.3m (£10.5m) in this month’s share issue. The former Jade Road Asian private equity fund, which changed its name and investment […]
Glenstone REIT has received acceptances from holders of 2.4%, or over 1.9m, of shares in Alternative Income REIT (AIRE) to its 70p per share, £56.3m cash offer. That’s a big increase from the 0.025% or 17,849 shares it had last week but is short of what the 25.4% AIRE shareholder would have wanted to gain […]
Global X has launched a UCITS ETF giving European investors exposure to 100 of the largest technology and technology-enabled growth companies listed in the US. The Global X NYSE 100 UCITS ETF (NYSX) began trading on the London Stock Exchange and Deutsche Börse Xetra on 20 August. It is an accumulating ETF with a total […]
Fidelity International is planning further hires to its ETF business as the asset manager looks to capitalise on the rapid growth of actively managed ETFs in Europe. The group has made expanding its ETF team a priority and is looking to add staff across product strategy, capital markets and distribution, according to Financial News. Recent […]
Update: Baillie Gifford US Growth Trust (USA) has received a requisition notice from Saba Capital Management, the activist hedge fund holding 29% of its shares. New York-based Saba has put forward Jason Chen, Thomas H McGlade and James Waterlow as candidates for election to the £900m investment trust’s board at its annual general meeting in […]
Activist hedge fund Saba Capital lifted its stake in Syncona (SYNC) from 10% to 11.3% last Wednesday, according to a filing on Friday. Shares in the £659m Guernsey-based life sciences fund stand on a 26% discount below net asset value (NAV) having fallen 43% over five years, although they have gained 15% in the past […]
In April 2026, Alliance Witan, Hargreaves Lansdown, and Vanguard were just three of 19 firms that launched Invest for the Future – a national campaign fronted by “Savvy the squirrel” aimed at encouraging Britons to look beyond cash deposits as a home for their savings. You may have seen a few articles written about it […]
Updated: Gore Street Energy Storage (GSF) has urged shareholders to vote against the wind-down resolutions tabled by Saba Capital and announced the sale of the first two assets as part of the battery fund’s recovery programme launched in March. Chair Angus Gordon Lennox warned that the two resolutions the activist hedge fund requested last month […]
Golden Prospect Precious Metals (GPM), the £92m gold mining fund preparing to move to Baker Steel from CQS Manulife, scored a hit with its big share buybacks in the first half of the year. Interim results today show the investment company suffered a 13.6% slide in net asset value (NAV) in the six months to […]
Glenstone, the 25.4% shareholder in Alternative Income REIT (AIRE), says it will resume its push for a managed wind-down of the real estate investment trust if its takeover offer fails, casting doubt on the “subscale” company’s dividend prospects. With two weeks to go until the deadline for acceptances for its £56.3m cash offer, Glenstone REIT […]
A fireside conversation with ICEYE’s Steve Young and Seraphim Space’s James Bruegger, exploring the growth of space-based intelligence and the increasing role of satellite data in defence, security, and decision-making. Watch below or here.
Schroder Real Estate (SREI) says Peter Lowe, head of UK Real Estate Investment at Schroders Capital, will replace Nick Montgomery as lead manager once its joint acquisition of Picton Property (PCTN) with LondonMetric (LMP) completes. Montgomery, who was promoted to Global Head of Real Estate at Schroders two years ago, will support Lowe, who oversees […]
