Investment trusts Financial News

22.12 / 19:36

ESG Investment trusts ESG funds Octopus Renewables trust makes bid for Aquila European Renewables

The board of AERI noted this morning’s statement and confirmed the 'unsolicited proposals'.

21.12 / 12:21

Results Investment trusts Hipgnosis Songs Fund song Investment Trust Hipgnosis Songs Hipgnosis narrowly avoids share suspension with publication of interim results

The total debt for the company stood at $674m as of 31 September, which represented 32.0% of operative NAV.

20.12 / 18:44

Investment trusts ThomasLloyd Energy Impact Investment Trust Shareholders of former ThomasLloyd Energy Impact vote against voluntary wind-up

At a general meeting yesterday (19 December), 83.1% of shareholders voted against the voluntary wind up, with the remaining 16.9% voting in favour of the action.

20.12 / 10:53

property Investment trusts social housing Home REIT £564m written off as Home REIT portfolio shrinks 58% in revaluation

The material reduction of £564m in valuation has been tied principally to a 'reassessment of the quality of assets', alongside the 'covenant strength of the tenants', many of which have entered liquidation.

19.12 / 10:56

acquisitions Real Estate London Stock Exchange Investment trusts REIT LondonMetric Property in talks to acquire LXi REIT

The boards said a merger would result create a UK-focused triple net lease REIT of scale with a pro forma gross asset value of approximately £6.4bn and market capitalisation of £3.9bn.

19.12 / 10:56

Investment trusts Blackstone Hipgnosis Songs valuations valuation Hipgnosis Songs delays publication of half-year results over valuation concerns

Hipgnosis Songs said it expects to publish the interim results by the end of December 2023. If it does not, it faces the risk of share suspension.

18.12 / 15:50

ESG Investment trusts schroders REIT ESG funds Schroder REIT shareholders greenlight fresh sustainability objective

In the trust’s extraordinary general meeting last week (15 December), 82.7% of votes were cast in favour of the proposal.

18.12 / 09:09

Investment trusts Majedie Investments records strong year following shakeup

Since the beginning of 2023, the trust has transitioned to a new investment manager, Marylebone Partners, adopted a new benchmark over 4% above UK inflation and adopted a new dividend policy to pay 3% of its NAV out annually.

15.12 / 10:29

Investment trusts People moves AssetCo Hipgnosis Songs Hipgnosis Songs hires JO Hambro co-founder and former CIO as non-executive director

Mills also serves as non-executive director of companies including AssetCo, MJ Gleeson and Oryx International Growth fund.

14.12 / 14:43

Investment trusts Winterflood private markets tender offer abrdn Diversified Income & Growth eyes managed wind-down

ADIG’s board said it believed a managed wind-down would be in the 'best interests of shareholders as a whole'.

12.12 / 12:13

Investment trusts Diageo Finsbury Growth & Income Nick Train buys more Diageo despite profit warning hit to Finsbury Growth & Income

Nick Train said he was sticking with the stock: 'On balance, we do not believe the warning about Latin America invalidates the investment case for Diageo, frustrating though it is."

12.12 / 12:13

Investment trusts Numis Polar Capital Tech shifts to AI winners as US mega-cap underweight hurts relative performance

Since 31 October, the trust’s NAV is up 11.1% compared to a 10.1% rise for the index.

11.12 / 09:33

Investment trusts Blackstone Hipgnosis Songs Fund Investment Trust Hipgnosis Songs Hipgnosis Songs Fund completes $23m sale of 'non-core' songs at 14% discount

SONG sold approximately 20,000 songs for $23.1m, representing around 1% of the trust’s value, according to an RNS notice.

08.12 / 15:59

NVIDIA Results Investment trusts Investment Trust Monks laments 'bruising' underperformance period as managers reposition portfolio

Over the reported period, the managers invested in semiconductor related companies they consider to be the 'picks and shovels' of the sector.

08.12 / 15:59

Abrdn Investment trusts abrdn to pour six months' worth of management fees into UK investment trust range

The asset manager said it expects the total amount invested to exceed £30m.

07.12 / 12:45

Asia Investment trusts AIC AGM Vietnam Opportunity fund survives attempt to discontinue trust

The trust said that its second largest shareholder, which holds 11% of the total issued share capital, cast 23% of votes at the AGM and voted in favour of the discontinuation of the trust.

07.12 / 12:45

Investment trusts People moves Greencoat UK Wind co-manager Fumagalli to step down

Matt Ridley, partner at Schroders Greencoat, will succeed Fumagalli to co-head the investment management team and manage UKW alongside existing co-manager Stephen Lilley | Credit: iStock

07.12 / 12:45

Investment trusts Diageo Finsbury Growth & Income Finsbury Growth & Income performance 'concerning' as trust lags benchmark for third consecutive year

Train credited the underperformance to three key factors: Avoidance of commodities and banks, high conviction holdings such as Hargreaves Lansdown and London Stock Exchange Group not performing well and underestimating the significance of technology change.

06.12 / 12:17

Investment trusts Investment Trust Chrysalis eyes 4.1% net asset value uplift from 'likely' portfolio holding sale

The trust did not mention what investment the potential disposal relates to.

06.12 / 09:21

Investment trusts Stifel Discounts Stifel downgrades 'uninspiring' Asia Dragon trust rating to negative

In terms of positives, the analysts highlighted abrdn’s large Asian equities team, increased size and more flexible investment mandate post-merger with abrdn New Dawn.

05.12 / 15:31

Investment trusts Picton Property Income rules out offer for UK Commercial Property merger after shareholder opposition

Both trusts had until 6 December to state whether they have a firm intention to make an offer, or announce they do not intend to make an offer.

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