In recent months, Shires Income Trust (SHRS) has been expanding for the first time since 2012. SHRS can boast both an attractive yield and outperformance of both its benchmark and the average of competing listedUK equity income funds (see Figure 15 on page 7, which shows SHRS outperforming over every time period). This...
Standard Life Private Equity Trust (SLPE), has made its first co-investment – a stake in Mademoiselle Desserts, made alongside IK Investment Partners – with more set to follow (up to 20% of NAV over time).... Read more Shareholders approved a change to SLPE’s investment policy in January to permit it...
The North American Income Trust (NAIT) has been generating an attractive and increasing dividend (up 9% for the year ended 31 January 2019). It is also generating reasonable capital growth, despite an environment that has been favouring low-yielding, high-growth companies. The manager, Fran Radano, is not unduly concerned about the health of...
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of...
Performance data – it was notable that risk appetite increased in April, which pushed up growth-focused trusts such as Lindsell Train and Montanaro UK Smaller Companies.. Read more Money in and out – US Solar Fund launched in April, raising £153m in a well received IPO. Including this launch, net inflows into the...
Read full report Seneca Global Income & Growth Trust’s (SIGT’s) manager, Seneca Investment Managers (Seneca IM), has continued to reduce the trust’s equity weighting, in advance of a global recession it expects in late 2020/ early 2021. Consistent with its view, the yield curve has all but inverted (as at...
Jupiter Emerging & Frontier Income (JEFI) has outperformed the average of competing listed emerging markets funds since launch (see page 14). In 2018, JEFI’s exposure to smaller and medium-sized companies and frontier markets acted as a drag on performance, relative to the MSCI Emerging Markets Index (the index that JEFI...
Through the first quarter of 2019, global equities largely clawed back the losses suffered over the final weeks of 2018. How much longer this ten-year bull market can sustain itself is the subject of much debate. US interest rate rises have stalled, reflecting growing cautiousness. Elsewhere, many of the headwinds...
Year-to-date, Ecofin Global Utilities and Infrastructure Trust (EGL)’s manager, Jean-Hugues de Lamaze, has avoided the fall-out from the bankruptcy of Californian utility Pacific Gas & Electric (see page 4), and the trust’s NAV performance has been strong (a total return of 10.9% to the end of March 2019), outperforming both...