Almost 90 per cent of investment trusts are on a discount. When will it change? September 5, 2024 A significant 88 per cent of all investment trusts are now trading on a discount to their underlying assets, City A.M. can reveal. The gap between the share price of investment trusts and the price of their underlying assets has got so bad that 30 per cent of all trusts now trade on a discount [...]
Columbia Threadneedle property trust bought out for £673m despite management complaints September 4, 2024 Columbia Threadneedle-run Balanced Commercial Property Trust has reached a deal to be sold for £673.5m, despite objections from its investment manager. The trust has been managed by Columbia Threadneedle since it was created in 2005, and began a strategic review this April after shareholders told it there was “need for change from the status quo”. [...]
Artemis Alpha trust agrees to takeover by Phoenix competitor September 2, 2024 The Phoenix-run Aurora Investment Trust has proposed a takeover of the Artemis Alpha Trust, which would see the two trusts merge to combine £353m of assets. The £123.7m Artemis trust and the £198.6m Aurora trust are around 25 years old. The new trust will be named the Aurora Alpha Trust if the merger is completed. [...]
Londonmetric makes £120m worth of acquisitions and sales in dealmaking spree September 2, 2024 LondonMetric has made £70m worth of acquisitions and offloaded other assets worth £50m in the real estate investment trust's (REIT) latest dealmaking spree.
PRS REIT attempts to negotiate with rogue shareholders September 2, 2024 Embattled PRS REIT has promised to negotiate with the group threatening to take control of its business. Last week, the investment trust faced calls from a group of investors, including Waverton Investment Management and CCLA Investment Management, to replace chair Stephen Smith and non-executive director Steffan Francis and adjust the trust’s strategy. The group controls [...]
Georgia Capital: Investment trust charts recovery after Tbilisi protest crash August 13, 2024 Georgia Capital, a UK-listed investment trust that owns around five per cent of Georgia’s economy, has charted its road to recovery after crashing during the country’s protests. In May, protests began against the Georgian parliament in Tbilisi due its new foreign agents law, which will see NGOs and independent media receiving 20 per cent of [...]
Impax Environmental Markets assets dip while holding out hope for ‘resurgent M&A’ August 12, 2024 Impax Environmental Markets has reported a 0.5 per cent decline in the net asset value (NAV) of the trust over the six months to 30th June. The investment trust reported a NAV of 429.3p at the end of June, compared to 434.9p as of 31 December 2023. The company, which is the UK’s largest environmental [...]
Meet the Fund Managers: Small companies, large gains August 5, 2024 Investment reporter Elliot Gulliver-Needham speaks to Ken Wotton, manager of investment trust Strategic Equity Capital.
Warehouse REIT reports double-digit rental growth as race for space heats up July 23, 2024 Warehouse REIT was able to push through average rent hikes of more than 15 per cent over the last quarter, but the trust’s stock price has failed to keep up. In a quarterly trading update, the trust said it had inked 12 new lettings during the second quarter of this year, bringing in £515,000, a [...]
‘Ugly duckling’ Ruffer sticks by market crash predictions July 23, 2024 The £1bn 'ugly duckling' Ruffer Investment Company has reported a tough year after making wrong calls about the path of the economy, but analysts hope that the long-term bets made by the trust will pay off.