Ageing well Temple Bar (TMPL) turned 100 earlier this year. Its one-, three-, and five-year returns are at or near the top end of its peer group, the dividend has continued to climb, and the managers state that they continue to swim against the tide, identifying stocks they consider interesting and attractively valued in a […]
Ageing well Temple Bar (TMPL) turned 100 earlier this year but shows no signs of slowing down. Its one-, three-, and five-year returns are at or near the top end of its peer group, the dividend continues to climb, and the managers continue to swim against the tide, finding interesting and attractively valued stocks in […]
Ready for a growth revival? Montanaro European Smaller Companies (MTE) is a growth-focused European smaller companies fund. Its manager observes that, in recent years, it has faced headwinds, with value investing more in favour in Europe and elsewhere. Earlier this year, performance was impacted by a sell-off in software companies as investors considered the potential […]
Ready for a growth revival Montanaro European Smaller Companies (MTE) is an unapologetically growth-focused European smaller companies fund. As such, it has faced significant headwinds in recent years, with value investing much more in favour in Europe and elsewhere. Earlier this year, performance was affected by a sell-off in software companies as investors considered the […]
Ready for a growth revival Montanaro European Smaller Companies (MTE) is a growth-focused European smaller companies fund. It has faced strong headwinds in recent years as value investing has been more popular in Europe and elsewhere. Earlier this year, performance was hurt by a sell-off in software shares as investors weighed the potential impact of […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) has benefited from its diversified portfolio during a period of high regulatory and market uncertainty for renewable energy. Lower power price forecasts and policy changes, including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism and the extension of the Electricity Generator Levy, […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) appears to have benefitted from its diversified portfolio during a period of significant regulatory and market uncertainty for the renewable energy sector. Whilst reductions in power price forecasts and government policy changes – including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) has demonstrated the benefits of its diversified portfolio during a period of significant regulatory and market uncertainty for the renewable energy sector. Whilst reductions in power price forecasts and government policy changes – including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism […]
Global growth with a wider lens After a tough period for growth investing, Monks Investment Trust (MNKS) has seen its performance improve markedly over the past year, helped by holdings such as TSMC, NVIDIA, SpaceX and Schiehallion. With the economic outlook becoming less certain, the managers have been adjusting the portfolio to allow it to […]
Global growth with a wider lens After a difficult period for growth investing, Monks Investment Trust (MNKS) has seen its performance improve markedly over the past year, helped by contributions from holdings such as TSMC, NVIDIA, SpaceX and Schiehallion. However, the economic landscape is becoming less certain, and MNKS’ managers have therefore been repositioning the […]
Global growth with a wider lens After a tougher period for growth investing, Monks Investment Trust (MNKS) has seen its performance improve over the past year, with contributions from holdings such as TSMC, NVIDIA, SpaceX and Schiehallion. MNKS’ managers observe that the economic landscape is becoming less certain and have been repositioning the portfolio with […]
Set fair for the future? Polar Capital Global Healthcare (PCGH) has delivered relative outperformance against its benchmark. It has achieved this despite headwinds, including some investors’ concerns over the policies of Donald Trump and performance in other sectors, notably technology. The endorsement by shareholders of its package of measures in November (which was covered in […]
Set fair for the future Polar Capital Global Healthcare (PCGH) has delivered strong returns and outperformed its benchmark, despite challenges including concerns over Donald Trump’s policies and strong gains in other sectors like technology. Shareholders showed confidence in the trust by backing its package of measures in November (which we covered in our last note […]
Set fair for the future Polar Capital Global Healthcare (PCGH) has delivered good returns for its shareholders, and the relative performance against its benchmark is strong. It has achieved this despite headwinds, from concerns over the policies of Donald Trump and runaway performance in other sectors, notably technology. The resounding endorsement by shareholders of its […]
Is there an irrational bias against financials? Financials stocks remain undervalued relative to other sectors and to history. The relative advances that the sector had made earlier in 2026 have been given up, but Polar Capital Global Financials Trust (PCFT) has outperformed in 2026 in NAV terms YTD, helped by some good stock selection decisions […]
Is there an irrational bias against financials? Financials stocks remain undervalued relative to other sectors and to history. The relative advances that the sector had made earlier in 2026 have been given up, but Polar Capital Global Financials Trust (PCFT) has outperformed in 2026 in NAV terms YTD, helped by some good stock selection decisions […]
Is there an irrational bias against financials? Financials stocks are still undervalued compared to other sectors and their historical averages. Although earlier gains in 2026 have been lost, Polar Capital Global Financials Trust (PCFT) has outperformed this year in NAV terms, thanks to strong stock selection by its managers. Some PCFT holdings are already showing […]
It’s a rollover! JPMorgan European Growth and Income (JEGI) has been chosen as the default rollover option for the proposed reconstruction of European Opportunities Trust (EOT). JEGI investors will already be aware that the trust has the best long-term track record within its peer group. Any assets that rollover from EOT will help improve liquidity […]
It’s a rollover! JPMorgan European Growth and Income (JEGI) has been chosen as the default rollover option for the proposed reconstruction of European Opportunities Trust (EOT). JEGI investors will already be aware that the trust has the best long-term track record within its peer group. Any assets that rollover from EOT will help improve liquidity […]
Powering ahead Ecofin Global Utilities and Infrastructure (EGL) has delivered strong absolute and relative performance and has been attracting attention. The board’s focus on controlling the discount has removed short-term shareholders, enabling the trust’s shares to trade at a premium and allowing it to expand again. There are good reasons why share issuance is likely […]
Powering ahead A good run of absolute and relative performance by Ecofin Global Utilities and Infrastructure (EGL) is attracting attention. The board’s strong focus on discount control has removed loose and discount-driven shareholders and paved the way for the trust’s shares to trade at a premium, enabling it to re-expand. There are good reasons why […]
Powering Ahead Ecofin Global Utilities and Infrastructure (EGL) has recently experienced a good period of absolute and relative performance that appears to be attracting attention. The board’s focus on discount control has helped loose and discount-driven shareholders to exit and appears to have contributed to the trust’s shares trading at a premium, which has allowed […]
25 years and going strong? Private equity has been operating through a challenging period, which appears to have been extended by conflict in the Middle East and ongoing debate around the impact of artificial intelligence on software valuations. This environment has been associated with slower M&A activity and delayed exits. During this period, Patria Private […]
25 years and going strong Private equity has been operating through an unusually difficult period, which has been extended by war in the Middle East and the ongoing debate around the impact of artificial intelligence on software valuations – slowing M&A activity and delaying exits. Against this backdrop, Patria Private Equity Trust (PPET) has delivered […]
25 years and going strong Private equity has faced a tough period, made worse by conflict in the Middle East and uncertainty over how artificial intelligence affects software valuations. This has slowed mergers and acquisitions and delayed exits. Despite these challenges, Patria Private Equity Trust (PPET) has delivered strong NAV total returns, outperforming its peers […]
Rising sun, rising returns? The Japanese equity market has been performing well for some time, and the recent election victory of the pro-growth and pro-reform prime minister Sanae Takaichi could potentially give the country a further boost. Despite ongoing challenges – not least those resulting from the war in Iran – the market could be […]
Rising sun, rising returns The Japanese equity market has been performing very strongly for some time, and the recent election victory of the pro- economic growth and pro-reform prime minister Sanae Takaichi has given the country a further boost. Despite ongoing challenges – not least those resulting from the war in Iran – the market […]
Rising sun, rising returns The Japanese equity market has been performing very strongly for some time, and the recent election victory of the pro-growth and pro-reform prime minister Sanae Takaichi has given the country a further boost. Despite ongoing challenges – not least those resulting from the war in Iran – the market looks well-positioned […]
Steady as he goes CQS New City High Yield Fund (NCYF) has continued to deliver income from a diversified portfolio of higher-yielding credit, while aiming to preserve capital through bottom-up credit selection. Its current yield of around 9% is a potential attraction for some investors, particularly while inflation, interest rates and geopolitical risk continue to […]
Steady as he goes CQS New City High Yield Fund (NCYF) continues to focus on delivering high income from a diverse portfolio of higher-yielding credit investments, aiming to protect capital through careful credit selection. Its dividend yield of around 9% remains attractive, especially given ongoing inflation, interest rate changes and geopolitical risks. Despite recent challenges […]
