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 […]
Steady as he goes CQS New City High Yield Fund (NCYF) has continued to do what it was designed to do: deliver a high level of income from a diversified portfolio of higher-yielding credit, while seeking to preserve capital through detailed bottom-up credit selection. Its current yield of around 9% remains a key attraction, particularly […]
20 years on, potential undiminished Vietnam Holding (VNH) has just turned 20. Both Vietnam and VNH have come a long way over the past 20 years. There have been both successes and setbacks along the way. Over the long term, VNH’s investment approach has delivered returns that are well ahead of local benchmarks. However, more […]
20 years on, potential undiminished Vietnam Holding (VNH) has just marked its 20th anniversary. Both VNH and Vietnam have made significant progress over the past two decades, with successes and some challenges along the way. Over the long term, VNH’s investment strategy has outperformed local benchmarks. Recently, however, its focus on quality growth and ESG […]
20 years on, potential undiminished? Vietnam Holding (VNH) has recently marked its 20th anniversary. Both Vietnam and VNH have experienced various developments over the past 20 years – both successes and setbacks. Over the long term, VNH’s investment approach has delivered returns that are ahead of local benchmarks. However, more recently, VNH’s quality growth and […]
Primed to perform? AVI Japan Opportunity Trust (AJOT) has made good use of the extra resources gained from its merger with Fidelity Japan. The trust holds large positions in undervalued and overcapitalised companies, aiming to unlock their hidden value. More companies are now open to working with AJOT, so much of this progress happens privately. […]
Primed to perform? The extra firepower that AVI Japan Opportunity Trust (AJOT) has at its disposal following the combination with Fidelity Japan has been put to good use. The company has significant stakes in many undervalued and overcapitalised businesses and is working to unlock the latent value within them. It helps greatly that more businesses […]
Primed to perform? The additional resources available to AVI Japan Opportunity Trust (AJOT) following the combination with Fidelity Japan have been utilised by the company. The company holds significant stakes in a number of businesses that it identifies as undervalued and overcapitalised, and is seeking to unlock value within them. The company states that more […]
The endgame? Impax Environmental Markets (IEM) has produced poor investment performance and is under pressure from activist hedge fund Saba Capital. In May, an exit tender offer saw about 80% of shares tendered. The fund, now much smaller, faces a Requisitioned General Meeting (RGM) on 17 June, where Saba aims to replace the entire IEM […]
The endgame? In the midst of a period of difficult investment performance, Impax Environmental Markets (IEM) has been the subject of a campaign by the activist hedge fund Saba Capital. This led to an exit tender offer in May, which resulted in around 80% of shares being tendered. The much-diminished fund is now the subject […]
Moving to a new phase Pantheon Infrastructure (PINT) delivered strong results in 2025, with an NAV total return above its 8-10% target. This was driven by solid operational performance, higher EBITDA and better cash generation. The full-year dividend was increased and fully covered. PINT is now moving from its initial buildout phase to a more […]
Moving to a new phase Pantheon Infrastructure (PINT) delivered another year of strong progress in 2025. NAV total return was ahead of its 8-10% target, helped by continued operational delivery across the portfolio, rising EBITDA and improving cash generation. The full-year dividend was increased and fully covered. PINT is now moving beyond its initial build-out […]
“Market mispricing AI risk” During global market uncertainty, Lindsell Train Investment Trust (LTI) and its manager, Lindsell Train Limited (LTL), have generally performed well as investors look for stable cash flows. Some holdings, especially in consumer staples, have been defensive during recent periods of market volatility linked to the Iran war. However, concerns about the […]
“Market mispricing AI risk” During periods of global market uncertainty, the companies held by Lindsell Train Investment Trust (LTI) and its manager, Lindsell Train Limited (LTL), have tended to see increased attention as investors look more towards businesses with durable and resilient cash flows. Some holdings, particularly consumer staples businesses, have appeared defensive amid volatility […]
“Market mispricing AI risk” During periods of global market uncertainty, the companies held by Lindsell Train Investment Trust (LTI) and its manager, Lindsell Train Limited (LTL), have tended to perform well as investors seek durable and resilient cash flows. Whilst some holdings – particularly those in the consumer staple sector – have proven defensive amid […]
The elastic band stretches further? Montanaro UK Smaller Companies (MTU) invests in three areas that are currently out of favour with investors: the UK, small caps, and high-quality companies. Its portfolio companies continue to report revenue and earnings growth, but this progress does not appear to be reflected in their valuations, which may be affecting […]
The elastic band stretches further Montanaro UK Smaller Companies (MTU) invests in three areas currently out of favour with investors: the UK, small caps, and high-quality companies. Its portfolio companies continue to deliver decent revenue and earnings growth, but this progress is not being reflected in their valuations, which is weighing on MTU’s performance. The […]
The elastic band stretches further Montanaro UK Smaller Companies (MTU) invests in three areas currently out of favour: the UK, small caps, and high-quality companies. While its portfolio companies are still growing revenues and earnings, this is not reflected in their share prices, which has hurt MTU’s performance. The manager believes patient investors will be […]
Strong NAV growth underway, with further upside expected Seraphim Space Investment Trust’s (SSIT’s) recent results show strong NAV progression, driven by valuation uplifts across its core holdings and improving operational momentum. However, the manager’s excitement about the portfolio’s prospects is undimmed. It believes that there is significantly more NAV growth to come as contracts convert […]
