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 […]
Strong NAV growth underway, with further upside expected Seraphim Space Investment Trust (SSIT) has reported strong NAV growth, mainly from higher valuations in its main holdings and better operational performance. The manager remains very excited about SSIT’s future prospects, expecting further NAV gains as more contracts turn into revenue and momentum increases. SpaceTech is now […]
Strong NAV growth underway, with further upside expected Seraphim Space Investment Trust’s (SSIT’s) recent results show 20.1% NAV growth over the half year to 31 December, which the manager attributes to valuation uplifts across its core holdings and improving operational momentum. The manager remains optimistic about the portfolio’s prospects, believing there may be further NAV […]
Doing good, globally Launched in September 2024, BNP Paribas Easy ESG Enhanced World UCITS ETF (AWDS) is a relatively new active ETF that invests in global developed market shares, using environmental, social and governance (ESG) criteria in its selection process. The fund aims to improve quality, resilience and long-term returns. Since launch, AWDS has slightly […]
Doing good, globally Launched in September 2024, BNP Paribas Easy ESG Enhanced World UCITS ETF (AWDS) is a relatively new active ETF that offers exposure to a portfolio of global developed market equities, while incorporating environmental, social and governance (ESG) criteria into its portfolio construction. The aim is to provide incremental improvements in quality, resilience […]
Doing good, globally? Launched in September 2024, BNP Paribas Easy ESG Enhanced World UCITS ETF (AWDS) is an active ETF that offers exposure to a portfolio of global developed market equities, while incorporating environmental, social and governance (ESG) criteria into its portfolio construction. The stated aim is to provide incremental improvements in quality, resilience and […]
Mining bottleneck fuels uranium upside Uranium and nuclear energy’s strong long-term fundamentals, driven by persistent supply deficits and rising structural demand from both traditional reactors and emerging demand for power such as AI data centres, have been well established. Whilst recent investment has focused on fuel processing stages such as conversion and enrichment, uranium mining […]
Mining bottleneck fuels uranium upside Uranium and nuclear energy have strong long-term prospects, supported by ongoing supply shortages and increasing demand from both traditional reactors and new sources such as power for AI data centres. Whilst recent investment has focused on fuel processing, uranium mining remains the main bottleneck, giving Geiger Counter’s (GCL’s) mining-focused portfolio […]
Mining bottleneck fuels uranium upside Geiger Counter’s (GCL’s) manager believes that uranium and nuclear energy’s long-term fundamentals are strong, driven by persistent supply deficits and rising structural demand from both traditional reactors and emerging demand for power such as AI data centres. Whilst recent investment has focused on fuel processing stages such as conversion and […]
Plenty to do AVI Global Trust (AGT) recently secured a higher bid for its largest holding, Toyota Industries, releasing cash for new investments as markets fell due to the war with Iran. The manager, Asset Value Investors (AVI), remains positive about AGT’s outlook. AVI notes Japanese companies are now more open to engagement, has identified […]
Plenty to do AVI Global Trust (AGT) recently secured an improved bid for what was its largest holding, Toyota Industries. This has freed up cash for redeployment into new investments as markets have declined in response to the war with Iran. The manager, Asset Value Investors (AVI), says that it remains positive about AGT’s prospects. […]
Plenty to do AVI Global Trust (AGT) is celebrating a recent success after securing an improved bid for what was its largest holding, Toyota Industries. This has freed up cash for redeployment into new opportunities just as markets have tumbled in response to the war with Iran. The manager, Asset Value Investors (AVI), remains upbeat […]
A unique approach to UK equities JPMorgan UK Equity Core Active UCITS ETF (JUKE) is the only European active ETF focused entirely on UK shares. Now nearly four years old, it has proven its ability to outperform its benchmark, especially in the past year. This success comes from a benchmark-aware, bottom-up approach based on detailed […]
