Significant headwinds, but still value Rising interest rates, a focus on mega-cap AI stocks, and the election of a US administration that has set out to “drill, baby, drill”, rather than address the damaging effects of climate change appear to have contributed to negative sentiment towards the environmental sector. However, as IEM’s board and managers […]
Cheap stocks, bold reforms, big ambitions Vietnam Holding’s (VNH’s) manager says that Vietnam still offers one of the most compelling macro stories across emerging markets. It notes that concerns over China, US trade policy and a focus on large-cap US tech have seen it left behind, but says that Vietnam’s fundamentals remain attractive, adding that […]
Cheap stocks, bold reforms, big ambitions Vietnam still offers one of the most compelling macro stories across emerging markets. In the short term, concerns over China, US trade policy and a focus on large-cap US tech have seen it left behind, but its fundamentals remain very attractive, and the government is making major structural reforms […]
Cheap stocks, bold reforms, big ambitions Vietnam still offers one of the most compelling macro stories across emerging markets. In the short term, concerns over China, US trade policy and a focus on large-cap US tech have seen it left behind, but its fundamentals remain very attractive, and the government is making major structural reforms […]
High growth, bigger yield Montanaro UK Smaller Companies (MTU) has adopted a new enhanced dividend policy, paying out 1.5% of net asset value (NAV) every quarter. This will make it one of the highest-yielding UK equity strategies on the market. For traditional equity income investors, whose portfolios tend to be tilted towards more value-focused cash-generative […]
High growth, bigger yield Montanaro UK Smaller Companies (MTU) has adopted a new enhanced dividend policy, paying out 1.5% of NAV every quarter. This will make it one of the highest-yielding UK equity strategies on the market. For traditional equity income investors, whose portfolios tend to be tilted towards more value-focused cash-generative stocks, MTU’s combination […]
High growth, bigger yield Montanaro UK Smaller Companies (MTU) has adopted a new enhanced dividend policy, paying out 1.5% of NAV every quarter. This should, all things being equal, position it among the highest-yielding UK equity strategies on the market. For traditional equity income investors, whose portfolios are typically tilted towards more value-focused cash-generative stocks, […]
More bang for your buck BlackRock Throgmorton’s (THRG) manager, Dan Whitestone, has recently celebrated his 10th year at the helm of the trust, as well as his ninth financial year of outperformance, with THRG’s recently released full-year results showing outperformance of 2.2% over its benchmark (the Deutsche Numis Small Cap ex Investment Companies plus AIM […]
More bang for your buck BlackRock Throgmorton’s (THRG) manager, Dan Whitestone, has recently celebrated his 10th year at the helm of the trust, as well as his ninth financial year of outperformance, with THRG’s recently released full-year results showing outperformance of 2.2%. These results not only highlight Dan’s skill in stock selection, having adapted THRG’s […]
More bang for your buck? BlackRock Throgmorton’s (THRG) manager, Dan Whitestone, has recently celebrated his 10th year at the helm of the trust, as well as his ninth financial year of outperformance, with THRG’s recently released full-year results showing outperformance of 2.2%. The results highlight Dan’s track record in stock selection and how the portfolio […]
Playing the long game Caledonia Investments’ (CLDN’s) recent Private Capital Spotlight provided an opportunity to deep dive into the company’s private capital pool investments. In this part of the portfolio, it has a target of up to 10 companies and currently it accounts for 29% of CLDN’s NAV. This note explores the private capital pool […]
Playing the long game Caledonia Investments’ (CLDN’s) recent Private Capital Spotlight provided an opportunity to deep dive into the company’s private capital pool investments. In this part of the portfolio, it has a target of up to 10 companies and currently it accounts for 29% of CLDN’s NAV. This note explores the private capital pool […]
Playing the long game Caledonia Investments’ (CLDN’s) recent Private Capital Spotlight provided an opportunity to examine the company’s private capital pool investments. In this part of the portfolio, it has a target of up to 10 companies and currently it accounts for 29% of CLDN’s NAV. This note explores the private capital pool in more […]
April Monthly | Investment companies Winners and losers in March 2025 The dominant performance by the Property – UK Healthcare sector was driven by a bid for Care REIT. Primary Health Properties (PHP) and Assura are not structured as investment companies but news that PHP was proposing a merger with Assura and now KKR’s recommended […]
Even ahead of so-called ‘Liberation Day’, tariff talk was once again the paramount mover of markets over March. The Fed’s Jerome Powell has noted that inflation will rise in response to tariffs, amid concerns that aggressive trade policies could hamper the central bank’s ability to cut rates. This was reflected in consumer confidence readings, which […]
Winners and losers in March 2025 Best performing funds in price terms (%) Care REIT 38.4 Life Science REIT 33.9 Warehouse REIT 29.6 Urban Logistics REIT 12.5 Assura 10.8 Picton Property 10.6 Great Portland Estates 8.8 Supermarket Income REIT 8.3 Social Housing REIT 8.2 Sirius Real Estate 7.4 Source: Bloomberg, Marten & Co The best […]
Primed for future NAV growth? With net assets of £1.2bn, Oakley Capital Investments (OCI) offers access to a concentrated portfolio of 33 private European companies across four core sectors. The manager believes that these have a positive trading outlook following two years of macro headwinds. It says an uncertain market backdrop has presented favourable conditions […]
Primed for future NAV growth With net assets of £1.2bn, Oakley Capital Investments (OCI) offers access to a concentrated portfolio of 33 private European companies across four core sectors, boasting a strong trading outlook following two years of macro headwinds. This uncertain market backdrop has presented a fertile environment for deal-making and investment, as more […]
Primed for future NAV growth With net assets of £1.2bn, Oakley Capital Investments (OCI) offers access to a concentrated portfolio of 33 private European companies across four core sectors, boasting a strong trading outlook following two years of macro headwinds. This uncertain market backdrop has presented a fertile environment for deal-making and investment, as more […]
Reforms at a tipping point As we show in this note, AVI Japan Opportunity (AJOT) has delivered strong returns to its shareholders in recent years. The work that the manager Asset Value Investors (AVI) has done to encourage investee companies to improve operations, capital structures, shareholder communications, and corporate governance has produced positive outcomes. However, […]
Reforms at a tipping point As we show in this note, AVI Japan Opportunity (AJOT) has delivered impressive returns to its shareholders in recent years. The work that the manager Asset Value Investors (AVI) has done to encourage investee companies to improve operations, capital structures, shareholder communications, and corporate governance has borne fruit. However, even […]
Reforms at a tipping point As we show in this note, AVI Japan Opportunity (AJOT) has delivered impressive returns to its shareholders in recent years. The work that the manager Asset Value Investors (AVI) has done to encourage the companies that AJOT invests in to improve operations, capital structures, shareholder communications, and corporate governance has […]
Inflection point approaching? With Trump now re-installed as US President, we are starting to see how his much talked about policy agenda is shaping up. He is moving quickly, but higher uncertainty is the new norm. Although, there are signs that his threat of stringent US tariffs on Asian and particularly Chinese imports, which had […]
Inflection point approaching? With Trump now re-installed as US President, we are starting to see how his much talked about policy agenda is shaping up. He is moving quickly, but higher uncertainty is the new norm. Although, there are signs that his threat of stringent US tariffs on Asian and particularly Chinese imports, which had […]
Inflection point approaching? With Trump now re-installed as US President, we are starting to see how his much talked about policy agenda is shaping up. He is moving quickly, but higher uncertainty seems to be the new norm. Although, there are signs that his threat of stringent US tariffs on Asian and particularly Chinese imports, […]
Form is temporary, class is permanent The unique nature of Lindsell Train Investment Trust’s (LTI’s) structure has weighed on its performance over the past four years, after it had enjoyed sustained and monumental success over the preceding two decades. Firstly, the active management approach that is the hallmark of Lindsell Train funds, which is centred […]
Form is temporary, class is permanent The unique nature of Lindsell Train Investment Trust’s (LTI’s) structure has weighed on its performance over the past four years, after it had enjoyed sustained and monumental success over the preceding two decades. Firstly, the active management approach that is the hallmark of Lindsell Train funds, which is centred […]
Form is temporary, class is permanent The unique nature of Lindsell Train Investment Trust’s (LTI’s) structure appears to have impacted its performance over the past four years, after it had benefited from two decades of strong absolute and relative performance. LTI’s managers see two main causes. First, they say that the active management approach that […]
Winds of change After years of incrementally-positive but slow-moving reforms, we are now starting to see real momentum across Japan’s corporate landscape as companies embrace governance changes and capital efficiency improvements. Over the past 12 months, dividend growth has accelerated to its fastest pace in 20 years and buybacks have reached record highs, climbing well […]
Winds of change After years of what the managers of JPMorgan Japanese Investment Trust (JFJ) describe as incrementally-positive but slow-moving reforms, they believe we are now starting to see real momentum across Japan’s corporate landscape as companies embrace governance changes and capital efficiency improvements. Over the past 12 months, dividend growth has accelerated to its […]
