This is the eighth in a new monthly feature for subscribers which highlights potential discount opportunities in the investment trust sector. The ideas come from research by Kepler Intelligence, the well resourced investment trust research company, and represents the author's opinions, not ours. The big picture environment will be important in validating or not these suggestions.
Time to feel the music? Hipgnosis Songs (ticker SONG) has emerged as one of the more popular investment companies in the alternatives space since its IPO in 2018, writes David Kimberley. The trust invests in the ri...
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This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news. If there are trusts you are interested in, the links in the last section will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the share price responses on the day of the announcement. Please note that the charts and weekly and year-to-date performance data were correct as of F...
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Strategic Equity Capital (ticker: SEC) was launched in 2005 and sits in the UK Smaller Companies sector. It runs a concentrated portfolio of 15 to 25 listed companies that mostly have a market value of between £100m and £300m. SEC has net assets of £150m and usually has a net cash position so it can take advantage of any short-term opportunities it sees. The investment style is akin to private equity -- there's a high level of engagement with individual companies and more in-depth research of business fundamentals. SEC was managed by a firm called GVQ from launch until 2020 and Odyssean's Stua...
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It is reassuring to return from a short holiday to find that some kind of nervous normality has returned to the UK after the madness of the Truss as PM interregnum, which unfortunately has made us something of a laughing stock overseas (as I heard more than once in France and the Netherlands). The Sunak/Hunt partnership responsible for economic policy now have a a short breathing space in which to try and restore a more lasting period of stability. I confine myself to some more brief notes this week.
Thoughts of the week
Forecasting the demise of Liz Truss two weeks ago may now look obviou...
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This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news. If there are trusts you are interested in, the links in the last section will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the share price responses on the day of the announcement. Please note that the charts and weekly and year-to-date performance data were correct as of F...
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Third Point Investors Limited (ticker: TPOU), along with BH Macro, is one of the few long-term survivors in the Hedge Fund sector. Run by US-based investor Dan Loeb, Third Point joined the market in 2007 although the underlying Master Fund it invests in dates back to 1996. Loeb primarily invests in equities, sovereign and corporate credit, and in private companies taking a mixture of long and short positions. A widening discount led to the trust rolling out a range of initiatives to improve its rating in the last few years, such as buybacks, an exchange facility, increased gearing, and tender ...
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This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news. If there are trusts you are interested in, the links in the last section will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the share price responses on the day of the announcement. Please note that the charts and weekly and year-to-date performance data were correct as of F...
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NB Private Equity Partners (ticker: NBPE) has a diversified portfolio of around 100 private equity positions that it has built up by co-investing alongside a select panel of 56 private equity managers. The trust was launched in 2007 on Euronext, joining the London market the following year. It was initially run by Lehman Brothers' private equity division but this was the subject of a management buy-out agreement following Lehman's infamous bankruptcy. The trust's focus has shifted over time, initially investing primarily in other private equity funds towards its current model of mostly direct ...
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It has another eventful week in the markets and for the investment trust in particular, culminating in the sacking of the Chancellor Kwasi Kwarteng after less than 40 days in the job and the prospect of more U-turns from the new Government. The initial market reaction saw the gilts market reprice briefly, giving some relief for investors in those sectors most affected by higher gilt yields, such as commercial property, renewable energy and infrastructure. To put some recent events in context, I have recorded a market review video.
Market review You can access the video recording of my latest...
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This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news. If there are trusts you are interested in, the links in the last section will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the share price responses on the day of the announcement. Please note that the charts and weekly and year-to-date performance data were correct as of F...
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