Investment trusts Financial News

09.11 / 12:19

Investment trusts AEW Home REIT Home REIT sells a further 153 properties at 65% loss

The trust said the sold properties were identified as being in 'poor condition', largely vacant and requiring significant capital expenditure to meet the required standards.

09.11 / 12:19

Investment trusts People moves Majedie Investments scraps CEO role

A spokesperson for Majedie told Investment Week that 'as part of the firm’s strategic transition effective November 1, 2023, William Barlow's role has shifted from executive director to non-executive director'.

09.11 / 12:19

Investment trusts Downing MICRO Downing Strategic Micro-Cap to begin managed portfolio wind-down

The trust posted an 8.2% drop in net asset value per share and an 8.3% fall in its share price in the six months to 31 August 2023.

08.11 / 16:23

Investment trusts abrdn Equity Income flattens management fee

Based on AEI’s assets of £142.7m as at 6 November, the change will amount to a 15.4% reduction in the fees paid as compared to the existing fee arrangement.

08.11 / 16:23

Investment trusts Merger Investment Trust Asia Dragon assets swell by over £200m following abrdn New Dawn merger

This puts the trust's total assets at £736.4m, as pre-merger it held £494.7m, according to data from the Association of Investment Companies.

08.11 / 12:00

Investment trusts Merger UK Commercial Property REIT confirms merger 'discussions'

According to data from the Association of Investment Companies, UK Commercial Property REIT is currently trading at a 30.5% discount.

08.11 / 08:35

Investment trusts Global Smaller Companies chair temporarily steps down

In an RNS notice published today (8 November), the management said Balfour will remain on the board of the company and they expect her to return to her role as chair in the new year.

08.11 / 08:35

Investment trusts AGM continuation vote tender offer European Opportunities Saba Capital European Opportunities trust rejects shareholder call for 50% tender offer

The offer is conditional on the passing of the trust’s continuation vote at its annual general meeting on 15 November, and will be paid out by 31 January 2024, at the latest.

08.11 / 08:35

Investment trusts Numis European Opportunities Saba Capital Herald stake Saba Capital increases stake in Herald and Edinburgh Worldwide

The firm has been building up stakes in UK investment trusts in the last 18 months, including European Opportunities, Henderson Opportunities, Schroder UK Mid Cap and Baillie Gifford US Growth.

07.11 / 16:29

Investment trusts continuation vote Investment Trust tender offer Saba Capital calls for European Opportunities to increase size of tender offer

Over the past 12 to 18 months, the firm has been taking positions in multiple UK investment trusts, including Henderson Opportunities and Schroder UK Mid Cap.

07.11 / 12:06

governance Investment trusts TILLIT removes Supermarket Income REIT from recommended list after engagement failures

Sheridan Admans, head of fund selection at TILLIT, said the decision was 'not taken lightly' to ousted the trust from the list, but he maintained that in order for the firm to make its best portfolio recommendations, it needed to have regular meetings with portfolio managers.

07.11 / 12:06

Investment trusts Hipgnosis Songs Andrew Sutch Hipgnosis appoints former Round Hill chair

Round Hill agreed to a $468.8m takeover last month, which will see its 51 catalogues absorbed by Concord.

06.11 / 16:03

Investment trusts H1 2023 Private assets Scottish Mortgage valuations Stifel Scottish Mortgage private asset valuations slide as unquoted exposure hits 31%

Scottish Mortgage investment trust manager Tom Slater (pictured).

06.11 / 16:03

Illumina Investment trusts Investment Trust Scottish Mortgage Scottish Mortgage sells out of Illumina

Tom Slater (pictured), lead manager on Scottish Mortgage investment trust

06.11 / 16:03

SEC Investment trusts Riverstone Credit Opportunities Income proposes sub-manager arrangement

Breakwall is a newly formed independent asset management firm expected to be regulated by the SEC as a registered investment advisor, owned and operated by the existing Riverstone Credit Partners team.

06.11 / 09:21

Investment trusts dividends continuation vote Hipgnosis Songs Financial Hipgnosis Songs scraps dividends until next financial year

The trust said the suspension of dividend payments will provide the company with the «headroom required» to avoid breaching its covenants.

06.11 / 09:21

Investment trusts Nav tender offer Saba Capital European Opportunities proposes additional tender offer ahead of continuation vote

If approved, the tender offer is expected to take place by 31 January 2024, the latest.

06.11 / 09:21

Investment trusts AEW Home REIT Home REIT sells 14 properties at average 51% loss as inspections prolonged

In October, the trust collected 18% of rent invoiced, an increase on the previous period collection of 3%.

03.11 / 14:45

Investment trusts Merger share buybacks Troy Income & Growth suspends buybacks ahead of potential merger

Peel Hunt analyst Thomas Pocock said that shareholders 'will likely have expected better planning and communication'.

03.11 / 12:37

Asia Abrdn Investment trusts New Dawn Asia Dragon NAV drops 16.7% as merger approaches

The trust has seen a permanently wide discount rate in recent years, hovering around 10%, but this has since begun to widen further, sitting at 16.2% in its annual results.

03.11 / 08:55

Asia Abrdn Investment trusts Annual results Asia Dragon NAV drops 16.7% in annual results as merger approaches

The trust has seen a permanently wide discount rate in recent years, hovering around 10%, but this has since begun to widen further, sitting at 16.2% in its annual results.

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