Klarna, the Swedish credit provider, has revived plans for a $14bn (£10.5bn) flotation, raising hopes for Chrysalis (CHRY) which holds a 15% weighting to the global buy-now-pay-later firm. Shares in Chrysalis, a £600m pre-flotation private equity fund, rose over 1% today on hopes yesterday’s announcement of a New York listing may pave the way for […]
Janus Henderson, manager of Bankers (BNKR), the underperforming £1.3bn global investment trust, has appointed technology fund manager Richard Clode to run the bulk of its assets. Clode, manager of the £1.7bn Janus Henderson Global Technology Leaders fund for 11 years, will work as co-manager with Alex Crooke, the trust’s lead manager since 2003. After a […]
Alternative Income REIT’s dividend bears the impact of refinancing its debts on a higher interest rate; plus updates from Vietnam Holding, Oakley Capital Investments and Aurora UK Alpha. Bankers (BNKR) fund manager Janus Henderson has appointed Richard Clode, manager of its top quartile Global Technology Leaders fund as co-manager of the £1.3bn global equities investment […]
Fidelity Emerging Markets (FEML) has agreed to buy back the 25.7% legacy stake held by Strathclyde Pension Fund at a price 14% below net asset value (NAV). Given the £548m investment trust stands on about a 10% discount, that should lead to a 4% uplift to NAV per share, which analysts welcomed. On a poor […]
Caledonia Investments (CLDN) has agreed to sell its top holding in wealth manager Stonehage Fleming for around £288m in cash. The disposal of its six-year investment, which accounted for 7.5% of its £3bn global multi-equity portfolio, comes after Stonehage, multi-family investment office, sold its business to Miami-based Corient Private Wealth. Caledonia will receive £251m for […]
Rufus Darwall, son of European Opportunities Trust (EOT) fund manager Alexander Darwall, has increased his holding in the investment trust to 7.6% from 3.1%, a stock exchange filing shows. That leaves Darwall junior with a £32.8m stake in the £432m closed-end fund, an increase of £19.4m on the £13.4m position he previously held. That’s not […]
HarbourVest Global Private Equity commits money to the simpler seperately managed account announced in May; Value & Indexed Property offers an exit and investment opportunity; and updates from Custodian Property Income and Sirius Real Estate. Fidelity Emerging Markets (FEML) has agreed to buy back the 25.7% stake held by Strathclyde Pension Fund at a price […]
Listed private equity funds may not invest in quoted companies but they badly need the post-April recovery in public stock markets to continue if they’re going to see a rehabilitation in their own share prices, says broker Stifel. The first batch of half-year results from private equity funds last week confirmed a drop in realisations, […]
Gore Street Energy Storage makes the first of four new non-executive director appointments having survived a challenge to its board last month and Home REIT promises all its long-delayed accounts will be published this year. Plus news from RM Infrastructure Income, Great Portland Estates, Diverse Income, Downing Renewables & Infrastructure and Cordiant Digital Infrastructure. Gore […]
It is that time of year again when we ask for your views on which investment companies and managers are doing the best job for you. Once again, to reward you for your efforts, we are offering one lucky reader the chance of winning £5,000. As we did last year, we compiled some performance statistics […]
Ocean Wilsons (OCN) has rejected criticisms of its proposed £900m merger with Hansa Investment Company (HANA) by US fund manager Arnhold as “inaccurate and misleading”. Having met and corresponded with Arnhold over its concerns, Ocean Wilsons said it was “extremely disappointed” to see its claims repeated in an open letter on Monday. Ocean Wilsons said […]
Further updates from private equity funds include the last set of half-year results from Apax Global Alpha before its fund manager takes it private plus July valuation reports from Pantheon International, Patria and NB Private Equity. Winding-down Abrdn European Logistics Income prepares to pay out a further £53m to shareholders. Apax Global Alpha (APAX) issues […]
Shareholders in VH Global Energy Infrastructure (ENRG) have given their near unanimous support to put the £409m portfolio into a three-year run-off. At an extraordinary general meeting today 94.5% of votes were in favour of changing the investment objective to one of getting the best returns for shareholders through the orderly sale of its assets. […]
The dollar’s historically large fall against the euro helped knocked 8.2% off the net asset value of Partners Group Private Equity (PEY) in the first half of the year. Chair Peter McKellar said it was a “disappointing” result after the 11.4% gain the £705m investment company made last year. The shares were unchanged at €10.20 […]
Octopus Renewables Infrastructure to save shareholders an estimated £700,000 a year after negotiating a change in its quarterly fund management fee; CT Private Equity’s half year results show a 4.5% fall in net asset value; and Intuitive Investments raises more money for China’s lottery operator. CT Private Equity (CTPE), the £340m private equity fund run […]
Arnhold, a New York-based fund manager, says it will vote against the merger of Ocean Wilsons with Hansa Investment Company, saying a wind-up of the company would be best for its shareholders. Arnhold, a US value investor, has challenged the £900m merger of Hansa Investment Company (HANA) and Ocean Wilsons (OCN), saying it is unfair […]
Our morning roundup includes Foresight Solar and Foresight Environmental Infrastructure selling a jointly-owned battery storage construction site in Perthshire in line with the recent valuation; Riverstone Energy releases first half results following shareholders’ vote to place it in a managed wind-down; and Primary Health Properties says its unconditional bid for Assura has received 92% acceptances […]
Fidelity China Special Situations is the top-performing UK investment trust after a 13% advance last month extended its impressive 12-month gain that has defied concerns over the trade war with the US. Fidelity China Special Situations (FCSS), the most highly-geared of the three London-listed China funds, saw its shares jump 13% in July. With the […]
Stock markets fell, the dollar weakened and gold prices rose after US President Trump escalated his attack on the Federal Reserve, firing Lisa Cook from her position as a governor on the central bank’s board. After choppy trading in Asia, European markets opened lower on Tuesday with the EuroStoxx 50 falling 0.9% and the FTSE […]
Our morning roundup sees UK private equity fund Literacy Capital issue half-year results and Riverstone Energy receive overwhelming shareholder support for a gradual wind-down. Literacy Capital (BOOK), the £233m UK private equity fund trading on a 25% discount, says it is “rebalancing our emphasis from new investments, towards building and maximising value from our current […]
If you’ve been following QuotedData for a while, you’ll recognise Peter Hewitt from the many interviews that we’ve done with him over the years. As he retires from Columbia Threadneedle, we asked Cherry Reynard to capture some of his thoughts on the sector. The investment trust sector has some well-documented challenges: from arbitrageurs to discounts, […]
Fund managers at Polar Capital Technology (PCT) and Manchester and London (MNL) have dismissed fears that the frenzy over artificial intelligence (AI) is a bubble waiting to burst while acknowledging that tech markets will remain volatile. The US Nasdaq technology index slipped 2.5% this week, having rallied strongly since April after big falls in the […]
Tritax Big Box declares its cash and shares offer for Warehouse REIT final, which means victory for Blackstone’s improved and recommended 115p per share cash offer. Middlefield Canadian Income finalises plans for its conversion to an exchange-traded fund and suspended Home Reit renegotiates the contract with its wind-down fund manager AEW. Tritax Big Box (BBOX) […]
Shares in NextEnergy Solar (NESF) have tumbled nearly 5% after the high-yielding renewables fund disclosed another quarterly fall in net asset value (NAV) that pushed its level of borrowing close to a 50% cap that analysts said could restrict its room for manoeuvre. A valuation decline for the three months to 30 June was expected […]
Update of yesterday’s story: RM Funds calls on the chair of £308m battery fund to resign after 30% of votes at yesterday’s general meeting supported its attempt to shake up the board. Gore Street Energy Storage (GSF) has pledged to make two changes to its board after the battery fund survived a serious challenge at […]
NextEnergy Solar sees over 12% of shares vote for a wind-up and reports another valuation fall; Bill Ackman’s Pershing Square hedge fund reports strong half-year results, as does Sandy Nairn’s Global Opportunities Trust; while Pacific Assets fund manager David Gait resigns; plus updates from Biotech Growth, Primary Health Properties and TwentyFour Income Fund. NextEnergy Solar […]
Baillie Gifford investment trusts Scottish Mortgage, Schiehallion and Baillie Gifford US Growth have made a 60% gain on Databricks, one of their artificial intelligence (AI) investments, in just nine months. The San Francisco company – which accounts for 0.8% of the £14.6bn Scottish Mortgage (SMT) portfolio, 2.6% of £1.1bn private equity fund Schiehallion (MNTN) and […]
Temple Bar (TMPL) has held its top spot in the UK Equity Income sector after generating a total 14.2% investment return in the first half of the year to beat the 9.1% gain in the FTSE All-Share index. A bid for Direct Line and other successful value-style stock picks of Redwheel fund managers Ian Lance […]
A higher-than-expected rise in inflation to 3.8% last month intensifies the pressure on the chancellor ahead of her autumn budget, but alleviates some of the stress on over-sold infrastructure funds. The annual rate of growth in the consumer prices index (CPI) jumped from 3.6% in June, the Office for National Statistics said today, its highest […]
Takeover Panel says it will hold an auction for Warehouse REIT next week; top-performing Temple Bar publishes strong half-year results; plus updates from Blackfinch Spring VCT, Ashoka Whiteoak Emerging Markets and dividends from Aberdeen Equity Income and LondonMetric Property. The Takeover Panel says it will hold an auction for Warehouse REIT (WHR) if neither Blackstone […]
