Prices and Markets

De La Rue’s fortunes have been trending steadily downwards since last spring, when the UK government awarded the contract for the nation’s new blue passports to an overseas competitor in a surprise move

QS Natural Resources Growth and Income’s (CYN’s) managers believe the mining sector is only in the early stages of a recovery; real demand for commodities is on an upwards trend; and a reduction in capex has seen capacity removed from the market. If they are correct, all of these should be supportive of higher commodity prices in the future and support a sustained recovery in resource and mining stocks... Read more Commodities and mining companies are attractively valued relative to...

Performance data – it was notable that risk appetite was down in May as renewed US-China trade tensions weighed on China-focused funds particularly. The re-election of Narendra Modi as India’s Prime Minister brought momentum to a number of Indian funds... Read moreMoney in and out – Aquila European Renewables Income and Riverstone Credit Opportunities Incomesuccessfully launched in May, raising €154.3m and £80.9m respectively. Greencoat UK Wind brought the most new money into the sector, raising £375m as it looks to grow beyond the 34 wind...

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 the companies mentioned... Read more Global (thoughts from Capital Gearing Trust, Scottish Mortgage, AVI Global Trust (formerly British Empire Trust), JPMorgan Multi Asset, Caledonia Investments, Majedie Investments, North Atlantic Smaller...

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 appears to be winning new fans for the company. The expansion could help improve liquidity in the shares and lower the trust’s ongoing charges ratio (as fixed costs are spread over a wider base)....

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 to make co-investments. These are direct investments into private companies made alongside a private equity manager. This is an area in which the manager has a successful track record. The...

With exclusive platforms and cutting-edge technologies allowing you to plan your budget and invest money in just a couple of clicks, investing has never been easier. This could be a double-edged sword, though, since many people start investing with no prior knowledge about this activity. First of all, you should understand that investment is not an easy thing to do, however practical it may seem right now. It takes hundreds of hours of studying, practice, and, most importantly, readiness to...

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 the US economy. He continues to recycle the portfolio into stocks that he believes are good quality that offer the prospect of reasonable dividend growth and should prove resilient in the event...

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 sector totalled more than £350m. In absolute terms, Renewables Infrastructure Group led the way, reflecting ongoing interest in the renewable energy space. Elsewhere, Globalworth Real Estate Investments’ near £300m raise...