Investment trusts Financial News

24.01 / 08:59

Investment trusts Investment Trust Home REIT Home REIT sells another 103 properties for £6.6m

The gross proceeds from the sale were £0.6m (8.4%) below the draft August 2023 values, however Home REIT said, “positive and negative variations between the sales price and draft valuation are to be anticipated”.

23.01 / 15:39

US Investment trusts Baillie Gifford US Growth discount narrows as positive performance returns

As of the end of November, the trust held 24 positions in private companies, comprising nearly a third (31.7%) of its assets.

23.01 / 15:39

Investment trusts ThomasLloyd Energy Impact Sue Inglis strategic review Former ThomasLloyd Energy Impact trust posts overdue results as strategic review continues

In a stock exchange notice on Monday (22 January), the trust said its net asset value at December 2022 stood at 49.3 cents ($), while the 30 June 2023 NAV was 51.2 cents.

23.01 / 09:33

Investment trusts Blackstone Hipgnosis Songs Fund Hipgnosis Option Hipgnosis rejects board's request to scrap 'material conflict of interest' call option

The call option has been at the centre of recent arguments, with the board offering a special resolution to try and temper the 'material conflict of interest' that acts as a 'significant deterrent' to potential offerors.

22.01 / 09:31

Real Estate Abrdn Investment trusts Merger Custodian Property Income REIT offloads assets at 9.5% premium ahead of abrdn merger

CREI is currently running on a 17.53% discount, according to data from the Association of Investment Companies, wider than the 14.8% discount it was at when news of the merger initially broke.

19.01 / 12:49

Commerzbank Investment trusts Investment Trust clean energy stake acquires Commerzbank acquires majority stake in Aquila European Renewables manager

The move is aimed at 'significantly accelerating' Aquila Capital’s growth to become one of the 'leading asset managers' for sustainable investment strategies in Europe.

19.01 / 08:49

Investment trusts REIT abrdn Property Income agrees to merge with Custodian Property Income REIT

The merger, which is subject to shareholder approval, will create a larger portfolio with around 200 assets and a combined property value worth more than £1bn.

18.01 / 14:37

income Investment trusts Alternatives Investment Trust Kepler Trust Intelligence names 54 'top' trusts for 2024

Categorised into Growth, Income & Growth and Alternative rated funds, the list 'celebrates the top investment trusts' across the three categories.

18.01 / 09:31

Investment trusts Hipgnosis Songs Fund song Investment Trust Hipgnosis Hipgnosis tables proposal to offer up to £20m to prospective acquisition bidders

'The board believes the investment adviser's call option therefore depresses the potential value of the company by limiting certain possible opportunities for shareholder value creation.'

18.01 / 09:31

property Investment trusts People moves Business roles social housing Home REIT Entire Home REIT board commits to step down on publication of results as chair Fennah replaced

The filing contained no information regarding a potential publication for the delayed results.

17.01 / 09:33

companies Results Wealth managers Investment trusts Unit trusts/OEICs People moves Liontrust raids GAM for team heads as outflows persist

Mark Hawtin (pictured) joins Liontrust

16.01 / 13:20

Europe UK Investment trusts Diageo burberry Train defends concentration despite persistent Finsbury Growth & Income underperformance

Nick Train (pictured) said the portfolio has been constructed around companies in the UK stock market that are poised to benefit from AI, software and luxury consumption trends.

12.01 / 16:11

Activism Investment trusts Scottish Mortgage European Opportunities Saba Capital Activist hedge fund Saba Capital discloses exposure to 35 UK investment trusts

Weinstein said closed‐ended funds were a “distinct contributor” to the fund’s strong performance over the last year.

12.01 / 16:11

Facebook Meta Investment trusts private equity Investment Trust Scottish Mortgage Scottish Mortgage repurchases Meta after 2020 exit

For the new purchase, the trust has taken on a 1% portfolio position in the stock, making it the 27th biggest holding in the fund.

12.01 / 16:11

ByteDance Jefferies SpaceX Investment trusts private equity Scottish Mortgage Jefferies reiterates SMT 'Buy' rating following 'useful' private equity disclosures

'The overarching theme was presented that the multiple headwinds for growth stocks over the past two years, namely valuation compression, downward earning revisions and a deceleration of growth, have reversed.'

11.01 / 09:15

property Investment trusts Merger LXi REIT agrees to £1.9bn LondonMetric takeover deal

The boards said the combined group will have EPRA net tangible assets of about £4.1bn, becoming the fourth largest UK REIT.

08.01 / 12:02

property Investment trusts Investment Trust AEW Home REIT Home REIT sells additional 98 properties for £26.5m

An additional 162 properties have been exchanged for sale at a total of £25.7m, which are expected to complete this month.

04.01 / 18:58

UK Pensions Investment trusts funds Unit trusts/OEICs Vanguard fundsmith Fundsmith Equity slips further down ii most bought list

Royal London Short Money Market first took the top spot in October 2023, where it remains, while the £22.7bn Terry Smith fund has since been further overtaken by L&G Global Technology Index and Vanguard LifeStrategy 80% Equity.

04.01 / 11:59

Investment trusts Unit trusts/OEICs emerging markets Square Mile Embark Horizon fund range loses Square Mile rating on move to BlackRock

Analysts at Square Mile Investment Consulting and Research argued that while BlackRock has 'strong resources', the new team must establish its own process and build a track record before a rating can be applied.

03.01 / 19:59

Investment trusts Numis Andrew Rees Investment trusts close 2023 with 4.6% performance boost

Although the sector closed the year in positive territory, investment trust performance was 'well behind' US and global equity market indices.

02.01 / 12:04

Investment trusts People moves Investment Trust Finsbury Growth & Income International European Assets appoints International Biotech trust chair to its board

Cornish-Bowden is currently a non-executive director of Finsbury Growth & Income and CC Japan Income & Growth trusts as well, the latter of which she chairs the audit committee for.

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