Goldman Sachs looks primed to launch covered call exchange-traded funds (ETFs) in Europe following its $2.25bn (£1.7bn) acquisition of NEOS Investments. NEOS, a US focused provider of options-based income ETFS, last week agreed to add its $30bn, 19 fund range to Golman Sachs’ platform, giving the investment bank a total of $130bn in active ETFs, […]
European trusts can be a tough sell. Why would investors bother delving into the sclerotic, slow-growing economies of France or Germany when they can enjoy the excitement of the dynamic US? To paraphrase Bill Clinton, it’s not the economy, stupid. It is hard to make a case for Europe on economic growth alone. While Eurozone […]
General Tedman discusses the strategic importance of space to global defence and security, and why access to resilient space-based capabilities is increasingly critical to national security and military operations. Watch below or here.
Residential Secure Income (RESI) will make its first return of capital following the disposal of its retirement portfolio to Living REIT. The company will return £35.2m to shareholders via its B Share Scheme, equivalent to 19p per ordinary share, with the payment due on 25 August. It will also pay a 1.53p per share property […]
Pershing Square Holdings (PSH) had a poor first half of 2026. In total return terms, the net asset value (NAV) of Bill Ackman’s US equities hedge fund fell by 12.6% and share price by 23.9% in a period where the S&P 500 index rose by 10.2%. An additional $100m buyback was authorised in May 2026 […]
Shaires Holdings Ltd (SHR) has launched a retail offer, giving individual investors the opportunity to gain exposure to a portfolio of private technology companies, with a particular focus on artificial intelligence (AI). The AIM-listed investment company is making new ordinary shares available at $20.00 each through the Winterflood Retail Access Platform (WRAP). The offer is […]
Foresight Environmental Infrastructure (FGEN) delivered a 1.4% total investment return in the three months to 30 June, despite a reduction in near- to medium-term power price assumptions. Net asset value (NAV) slipped to £652.4m from £655.5m at 31 March, while NAV per share fell from 105.2p to 104.7p after allowing for the 2p per share […]
Riverstone Energy (RSE) has written down Group14 Technologies to zero following ongoing production and commissioning challenges, as it continues its managed wind-down. It has returned £30m to shareholders through its second compulsory partial redemption during the quarter to 30 June and reported a draft unaudited net asset value (NAV) of $77m, with its remaining portfolio […]
Investment Week has a story that UK smaller companies fund managers George Ensor and Mayan Uthayakumar – who both quit Liontrust recently – are off to work for Jupiter Asset Management. Ensor’s surprise departure triggered a short-lived drop in River UK Micro Cap‘s (RMMC) share price. However, investors appeared reassured that he would continue to […]
Schroder Asia Total Return (ATR) and Pacific Assets (PAC) have published circulars to put their planned merger into effect. The deal that was announced on 11 June will take the form of a s110 reconstruction and members’ voluntary winding-up of Pacific Assets. Pacific Assets shareholders have a cash option, at a 2% discount to NAV […]
Aberdeen Asia Focus (AAS) beat its benchmark by 29.4% over the five years to 31 July, passing the performance test that would otherwise have triggered a tender offer. The board says a new five-year performance test period began on 1 August. As before, if the trust fails to at least match its benchmark over this […]
On 3 August 2026, Xtrackers MSCI Innovation UCITS ETF gave two weeks’ notice of a meeting on 17 August at which it proposed to shift from tracking the MSCI ACWI IMI Innovation Index to tracking the MSCI World Semiconductors & Semiconductor Equipment 20/35 Index. This is one passive thematic strategy replacing another passive thematic strategy. […]
UK-listed property stocks enjoyed another positive month in July, with the average share price rising 2.3%, and 34 of the 49 companies in our dataset recording gains. The median return was slightly stronger at 2.5%. The sector has now delivered three consecutive months of positive average returns, taking the three-month gain to 3.9%. However, the […]
HgCapital Trust (HGT) says its underlying investment return for the second quarter was 0.5%. However, the share price discount widened a little and, taking the first quarter’s falls into account, that left investors with a 4.9% drop in net asset value (NAV) in the first half of the year and a 24.9% slide in the […]
There were no surprises in embattled Alternative Income REIT‘s (AIRE) latest quarterly update. A quarterly return of 0.4% reflects a small (£340k) reduction in the valuation of the portfolio, but all its properties are let and all the tenants are paying rent. The board remain adamant in their rejection of the Glenstone offer and remain […]
If you read our recent note on Temple Bar (TMPL), you’ll have seen that we included a section entitled “Compelling UK valuation opportunity”. Below is one of the tables we used to back that up. As you can see, UK stocks are cheap relative to peers, and especially US stocks on a price to earnings […]
Qian Zhang, investment specialist, Baillie Gifford. Many Asia portfolios own the same household names. Baillie Gifford’s Qian Zhang explains why patient investors may find compelling opportunities not only in Asia’s index ‘dragons’, but also in the quieter ‘salamanders’ others miss. As with any investment, your capital is at risk. Asia had a strong year in 2025, and we […]
3i Group (III) extended its recovery from May lows with the £29bn private equity backer of Action, the European discount retailer, rallying just over 15% in July, following an 11.6% gain in June. RIT Capital Partners (RCP) benefited from a £300m tender offer that spurred shares in the Rothschild-backed global multi-asset fund 12% higher. Greencoat […]
Murray International (MYI), the £2.2bn investment trust flagship run by Aberdeen, delivered a 10.5% investment return in the first half of the year with shareholders receiving 9.9% as the shares saw their premium over net asset value dip to 2.4% from 3%. Although the half-year result underperformed the 12.4% increase in the MSCI ACWI High […]
RIT Capital Partners (RCP) continued to fire on all cylinders in the first half of the year, helped by an unrealised gain of £110m in the record $1.7trn SpaceX flotation. Interim results show the £3.2bn global multi-asset fund backed by the Rothschilds generated an underlying investment return of 9% in the six months to 30 […]
Tritax Big Box (BBOX) has raised £350m to fund two new data centres in Greater London after securing 235MW of grid connection agreements to power them. Launching the fund raise after the market closed last night, the £4.6bn real estate investment trust said the new developments would be “materially accretive” to earnings. However, the issue […]
Tetragon Financial Group (TFG), the £1bn hedge fund and alternative investments platform standing on a huge 69% discount to net asset value, has launched a $50m tender offer to let holders of its non-voting shares sell them between $12.75 and $14.75. The tender offer is expected to close on 3 September. The shares stand at $13.60 compared […]
Saba Capital has disclosed a stake of 5.1% in Unite Group (UTG), confirming reports last month that the activist hedge fund was building a position in the UK’s largest student accommodation provider. A filing today shows the US firm has just 0.08% in shares with 5% in total return swaps held across a range of […]
RM Funds, the 4.8% shareholder in Gore Street Energy Storage (GSF) that tapped into investor discontent over the investment trust last year, has signalled its intention to back Saba Capital in voting for the fund’s discontinuation next month. Pietro Nicholls, the VT RM Alternative Income fund manager who led RM Funds’ campaign for better governance […]
We regularly report launches of new active ETFs, many of which can have numerous share classes, but Amundi Asset Management has decided to de-list 26 of its ETF share classes in an attempt to improve liquidity in the remaining ones. The last day of trading in these will be 6 November 2026 and de-listng will […]
Target Healthcare (THRL) boss Kenneth MacKenzie says he is looking forward to Andy Burnham’s social care reforms after the new prime minister’s speech on the subject last week. MacKenzie, chief executive of Target Fund Managers, which runs the £1bn care home portfolio, said: “We note the prime minister’s recent social care plan speech and the […]
Seraphim Space (SSIT) says space start-ups raised approximately $7.5bn across 141 venture deals during the second quarter of 2026. Its research, which features in the investment trust’s latest newsletter, found that investment remained close to record levels, with SpaceX’s IPO helping to broaden investor interest. James Carthew, head of investment company research at QuotedData, said: […]
Pantheon International (PIN) plans to offload more fund holdings as it repositions its £2.1bn private equity portfolio towards direct investments and continues to return capital to shareholders. In annual results today Pantheon partner and PIN’s lead manager Charlotte Morris indicated that the £224m ($300m) of fund stakes sold in May was the first of a […]
Asset Value Investors, the investment trust manager and activist investor, has sold its business to Pacific Asset Management. Joe Bauernfreund, chief executive and lead manager of AVI Global (AGT) and AVI Japan Opportunity (AJOT), said London-based PAM, which manages £18.4bn, would provide a platform for AVI’s growth. Established 41 years ago, AVI has £2.1bn of […]
Seraphim Space (SSIT) has invested over £21m of the £137m it raised in a C-share (SSIC) issue in May, ploughing more money into two companies it already holds in the portfolio: Pixxel, the Indian satellite constellation operator, has received a follow-on investment of $25m (£18.6m); and Zeno Power, the US nuclear battery technology provider, a […]
