As part of our commitment to providing Investment Research, we have published our regular monthly update on the Global Economy & Listed Investment Companies.
New research
- Update note on International Biotechnology Trust
- Annual overview note on Herald Investment Trust
- Update note on CG Asset Management
- Annual overview on Polar Global Infrastructure Trust
In this issue
- Performance – Performance was led by alternative sectors with lower correlation to the broader market. A handful of hedge fund-sector companies had very good months, led by the Brevan Howard-feeder funds, BH Macro GBP and BH Global GBP;
- Discounts/premiums – Technology has been seen as comparatively resilient, helping to explain the narrowing in Polar Capital Technology‘s discount and a good month for Manchester & London as well. Elsewhere, Allianz Technology was one of the month’s best performers. Biotech is proving to be relatively resilient as well, benefitting International Biotechnology Trust.
- Money in and out – There is no surprise in the lack of notable fundraising. Still, renewable funds continued to bring in the most capital, led by JLEN Environmental Assets, Aquila European Renewables Income and Gresham House Energy Storage; and
- Major news stories – DP Aircraft I suspended its dividend. Elsewhere, Foresight Solar updated on covid-19 and reaffirmed its 2020 dividend target. We also heard similarly from Bluefield Solar. Away from covid-19, Strategic Equity Capital announced a manager change.
