This has been another choppy week in the markets, notable mainly for the fact that the rise in US bond yields persists. This is not unexpected, and it only takes the 10-year Treasury yield back to where it was before the pandemic hit, but it continues to bear down on the performance of the equity and corporate bond markets, while real yields continue to edge up, unhelpfully for gold. The Federal Reserve has so far resisted the pressure to change its policy stance, despite the US bond market having its worst start to the year for many years.
Jonathan Davis James Anderson's departure The plann...
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For premium subscribers we periodically do interviews with fund managers and analysts about current market conditions and funds and markets (occasionally shares) that we invest in. This one is with James Armstrong, managing partner of Bluefield Solar LLP, investment adviser to the Bluefield Solar Income investment trust, one of the very first renewable energy trusts to IPO back in 2013, and a trailblazer for that sector.
James Armstrong Why the interest in this trust? Well, the renewable energy sector has come a long way since Bluefield Solar and Greencoat UK Wind became the first two trusts ...
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This is our weekly roundup of investment trust announcements and data. The data on the week's biggest gainers, losers and discount changes is at the top. If there are trusts you are interested in, the links will take you to the relevant London Stock Exchange announcement. The percentage figures show the initial share price responses. Please note that the charts and weekly performance data were correct as of Friday (not Saturday) morning.
Recent trust performance This is the normal table of weekly movements in the investment trust sector courtesy of Numis Securities.
Announcements Monday P...
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Jonathan Davis The Scottish Mortgage effect As Simon Elliott noted in our weekly podcast, the market makers in Scottish Mortgage have had an unprecedentedly busy time in the last few weeks. As a large and liquid trust that now sits comfortably in the FTSE 100 index, it has become a go to option for many traders, not just investors with normal longer term horizons. It is hard to recall a similar case where, in the absence of specific news, a well capitalised diversified investment fund has witnessed such dramatic volatility over such a short period of time. I am not sure it is a healthy...
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This is our weekly roundup of investment trust announcements and data. The data on the week's biggest gainers, losers and discount changes is at the top. If there are trusts you are interested in, the links will take you to the relevant London Stock Exchange announcement. The percentage figures show the initial share price responses. Please note that the charts and weekly performance data were correct as of Friday (not Saturday) morning.
Recent trust performance This is the normal table of weekly movements in the investment trust sector courtesy of Numis Securities.
Announcements M...
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UPDATE: A revised version of this profile was published in October 2024.
BB Healthcare Trust has a slightly different approach to healthcare investment, focusing on companies that are looking to improve the underlying process of keeping us all fit and well. It's a theme that will strike a chord will many of us. Healthcare professionals are undoubtedly heroes but the clunkiness and unconnected nature of healthcare systems worldwide is a constant source of misery and frustration, for both practitioners and patients. As with many things, technology might be the solution. Whether it's a Zoom call...
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It has been another remarkable week for the investment trust sector, with Scottish Mortgage and the technology and Chinese investment trusts falling sharply again, reversing some of their previous exceptional gains and continuing the pattern of rotation into value and cyclical stocks (which are not always the same thing).
Jonathan Davis Harry's game How long will the marked rotation into cyclical value stocks we have seen since October endure? Harry Nimmo, the long serving manager of the Standard Life Smaller Companies investment trust, whom I spoke to this week, tells me that on past experie...
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This is our weekly roundup of investment trust announcements and data. The data on the week's biggest gainers, losers and discount changes is at the top. If there are trusts you are interested in, the links will take you to the relevant London Stock Exchange announcement. The percentage figures show the initial share price responses. Please note that the charts and weekly performance data were correct as of Friday (not Saturday) morning, which will not capture the full extent of the market moves this week.
Recent trust performance This is the normal table of weekly movements in the investm...
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A year on from the stock market's pandemic-inspired rout and for the first time since news of a successful vaccine trial broke in the autumn investors have started to cool on the post-Covid reflation trade, despite attempts by the Federal Reserve to cool concerns that the recovery will bring rising interest rates and higher inflation.
Jonathan Davis Where we are at the moment The chairman of the Federal Reserve, Jerome Powell, did his best to calm investors' fears about an imminent inflation/bond market crisis in his testimony to Congress this week. This comes after one of the worst months o...
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For premium subscribers we periodically do interviews with fund managers and analysts about current market conditions and funds and markets (occasionally shares) that we invest in. This one is with Peter Michaelis, who is the head of sustainable investments at Liontrust. At a time when ESG is all the rage, he and his colleague Simon Clements have the great advantage of having run sustainable investment portfolios since 2001, well before the world and his dog joined in. They joined Liontrust from Alliance Trust in 2017, having started their career at Morley, the asset management arm of Norwich...
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