Oakley Capital Investments (OCI) is a private equity trust that invests in funds managed by Oakley Capital. It is domiciled in Bermuda, was listed on AIM in 2007, before moving to the Specialist Fund Segment in 2019 and the Main Market in 2025. Oakley Capital taps into its extensive network of entrepreneurial contacts to find European companies involved in technology, consumer industries, education, and business services, usually taking controlling stakes in firms valued between €100m and €1bn. Like most private equity trusts, it has tended to trade at a wide discount to NAV, and it has traded...
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Exclusive to subscribers to the Money Makers Circle Contents - What's new this week - Latest trust profile - Trust and market news - Recent issuance and buybacks - Good reads - Videos and other content - Trust price and NAV performance - Z-scores - Investment Trusts Handbook - Appendices
What's new this week This week on the podcast, I take a deep dive into the outlook for commercial property with Richard Shepherd-Cross, founder and manager of Custodian Property Income REIT (CREI). The commercial property investment trust sector has halved in the last few years through consolidation. Does it ...
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This is our weekly roundup of investment trust announcements and movers. Tables courtesy of Winterflood Securities follow, with the trust price and NAV performance, along with a table showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant stock exchange announcement. The percentage figures in this list show the trust's discount/premium on the day of the announcement. Please note that the charts and weekly and year-to-date performance data are correct as of Friday mornings.
Winterflood Average D...
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Financial historian Edward Chancellor, author of the definitive history of past speculative excesses, from the South Sea Bubble onwards, explains why the shares of AI companies are not performing as well as their reported earnings suggest. This article is reproduced with the author's permission.
The profit boom unpicked The artificial intelligence generated by large language models is breathtaking. Equally wonderous is the financial alchemy that accompanies multi-trillion-dollar investments in AI infrastructure. Capital spending is instantaneously transformed into profits, even as the econ...
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Update (Oct 2026): A couple of days after this article was published, BOOK shares fell by 10% after it issued a third-quarter trading update saying that, while most of its businesses were trading well, several issues have become apparent at Cubo Work and it would be writing down its investment to zero in its September 2026 valuation (it was previously £24.4m, 40.6p per share, 8.6% of NAV). A couple of weeks later, BOOK sold its holding in Cubo Work for a small but undisclosed amount, but later revealed a £22.4m write-down in its Q3 NAV update, with NAV per share down 4.7% overall to 450.5p, wi...
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Exclusive to subscribers to the Money Makers Circle Contents - What's new this week - Latest trust profile - Trust and market news - Recent issuance and buybacks - Good reads - Videos and other content - Trust price and NAV performance - Z-scores - Investment Trusts Handbook - Appendices
What's new this week This week on the podcast, Andrew McHattie and I discuss all the latest news from the sector. Topics covered include: performance versus open-ended funds, International Biotechnology Trust (IBT), US Solar Fund (USF), AVI Japan Opportunity (AJOT), Scottish Oriental Smaller Companies (SST...
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This is our weekly roundup of investment trust announcements and movers. Tables courtesy of Winterflood Securities follow, with the trust price and NAV performance, along with a table showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant stock exchange announcement. The percentage figures in this list show the trust's discount/premium on the day of the announcement. Please note that the charts and weekly and year-to-date performance data are correct as of Friday mornings.
Winterflood Average D...
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Murray Income (MUT) was established in 1923, and it is one of the larger trusts in the UK Equity Income sector with net assets of around £1bn, having nearly doubled in size following its 2020 merger with Perpetual Income & Growth. After being managed by Charles Luke of Aberdeen for twenty years, it switched management firms to Artemis in March 2026, with the co-managers that run the highly successful Artemis Income open-ended fund taking over responsibility for its portfolio. MUT typically holds around 50 stocks, and around 75% of its portfolio was changed following the appointment of Arte...
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Exclusive to subscribers to the Money Makers Circle Contents - What's new this week - Latest trust profile - Trust and market news - Recent issuance and buybacks - Good reads - Videos and other content - Trust price and NAV performance - Z-scores - Investment Trusts Handbook - Appendices
What's new this week This week on the podcast, I am joined by two guests. The first is Craig Baker, chairman of the investment committee at Alliance Witan (ATW), the £5bn market cap global sector constituent approaching the tenth anniversary of its switch to a new mandate, a multi-manager stock-picking strate...
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This is the latest article from our contributor Reg Hoare, who has worked for 40 years in the City, initially in investment banking and the securities business, latterly as managing director of MHP Communications. He has been investing in investment trusts as a private investor for more than three decades. Here, he reviews the performance of his holdings as we move into the final quarter of 2026.
Reg Hoare Performance and attribution Q3 proved to be another good quarter for my SIPP, bringing my year-to-date performance to a very satisfactory +30% and another all-time high for the portfolio. ...
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