Private equity
The great debate about listed private equity trusts goes on. With some of the biggest trusts trading on persistent 40-50% discounts, the share prices either represent tremendous bargains or are advertising a warning that the sector is heading for a painful meeting with reality - but which is it? As regular readers will know, although I have long held a shareholding in HG Capital (HGT), I have never had much enthusiasm for private equity as a class. While happily acknowledging that private ownership in the right hands is often a superior business model, and the returns have b...
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Jonathan Davis Stuart Watson's fund profile this week looks in depth at Odyssean Investment Trust, a trust that I happen to own and like. The Q and A is with Hugh Yarrow, the manager of another impressively consistent performer, the Evenlode Equity Income fund (one of the few open-ended funds I own). Next week it will be the turn of Helen Steers, lead partner of the Pantheon International private equity trust, to make the case for that asset class. I am away this weekend so this notebook will be updated early next week.
Energy pries and renewables You would have to be hermit to have missed th...
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Jonathan Davis Stuart Watson's fund profile this week looks in depth at HG Capital Trust, a core component of the Money Makers model portfolios and a consistently strong private equity performer over many years. (I should mention that I am also a shareholder). The next Q and A is with Hugh Yarrow, the manager of another impressively consistent performer, the Evenlode Equity Income fund (one of the few open-ended funds I own). It will be published in a few days time.
Where we are in the market cycle Returning to the UK after two weeks of sunshine in France, at first sight not that much appea...
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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 Paul Bridge, CEO of Civitas Investment Management, which manages the Civitas Social Housing investment trust (ticker: CSH) and two other smaller funds. The trust's objective is to generate a sustainable and inflation-linked yield from acquiring and leasing social housing for those with long term care needs, a market that is growing and is set to grow further.
Why the interest in this trust? The i...
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