Strong NAV growth, more winners emerging Seraphim Space Investment Trust (SSIT) has continued to deliver strong portfolio progress, with a series of transactions providing further validation of the value being created across its holdings. ICEYE’s latest funding round has crystallised a substantial uplift, HawkEye 360 has successfully listed, and ALL.SPACE has been acquired by York […]
Strong NAV growth, more winners emerging? Seraphim Space Investment Trust (SSIT) claims to have reported progress across its portfolio, with a series of transactions involving its holdings. ICEYE’s latest funding round has seen a marked uplift in valuation, HawkEye 360 has listed, and ALL.SPACE has been acquired by York Space Systems. At the same time, […]
Strong NAV growth, more winners emerging Seraphim Space Investment Trust (SSIT) has continued to make strong portfolio progress. ICEYE’s latest funding round confirmed a substantial rise in its valuation, HawkEye 360 has listed, and York Space Systems has acquired ALL.SPACE. SSIT’s £137m C share issue provides capital for existing holdings and new opportunities, while Seraphim’s […]
Ready for a small-cap reset The April 2026 combination with BlackRock Throgmorton reinforced BlackRock Smaller Companies Trust (BRSC) as the largest growth-focused trust in the UK smaller companies sector. It also gave shareholders lower fees, an exit mechanism if performance disappoints and greater scope to invest overseas. The outlook for UK smaller companies remains difficult, […]
Ready for a small-cap reset? The April 2026 combination with BlackRock Throgmorton has reinforced BlackRock Smaller Companies Trust’s (BRSC) position as the largest growth-focused trust in the UK smaller companies sector. The transaction also seems to provide shareholders with lower fees, an exit mechanism in the event of underperformance and greater flexibility to invest overseas. […]
Ready for a small-cap reset The April 2026 combination with BlackRock Throgmorton reinforced BlackRock Smaller Companies Trust’s (BRSC) position as the largest growth-focused trust in the UK smaller companies sector. The transaction also brought shareholders lower fees, an exit mechanism in the event of underperformance and greater flexibility to invest overseas. The backdrop for UK […]
New chapter, same compelling story The cloud of uncertainty that has hung over Herald Investment Trust (HRI) for almost two years, following Saba Capital’s stake-building and attempts to take control of the trust, has finally lifted. A tender offer in July gave Saba a full exit, and a three-year standstill arrangement is now in place, […]
New chapter, same compelling story The uncertainty hanging over Herald Investment Trust (HRI), caused by Saba Capital’s stake-building and attempts to take control, has lifted. A July tender offer gave Saba a full exit, while a three-year “standstill agreement” allows manager Katie Potts and her team to focus on HRI’s portfolio of pioneering technology companies. […]
New chapter, same compelling story? The uncertainty surrounding Herald Investment Trust (HRI) for almost two years, following Saba Capital’s stake-building and attempts to take control of the trust, appears to have now lifted. A tender offer in July gave Saba a full exit, and a three-year standstill arrangement is now in place, allowing manager Katie […]
Gathering momentum BlackRock American Income (BRAI) appears to be strengthening in its new form. Consistent outperformance of its benchmark and peers since April 2025’s revamp is attracting investors, while strong returns are supporting higher dividends. The company is re-issuing shares and nearing a £200m market value. It could soon reach thresholds that attract larger wealth […]
Gathering momentum BlackRock American Income (BRAI) appears to be going from strength to strength in its new form. Consistent outperformance of the benchmark index and the peer group since April 2025’s revamp is attracting interest from investors. This strong run of returns is also feeding through into higher dividends. The company is re-issuing shares and […]
Gathering momentum? BlackRock American Income (BRAI) has delivered consistent outperformance of its benchmark index and peer group since April 2025’s revamp. This appears to be translating into buying interest from investors. A rising NAV is also feeding through into higher dividends. The company is re-issuing shares and is now nearing a £200m market cap. It […]
On the right side of AI The rapid progress of AI has raised legitimate concerns over the durability of parts of the software sector, weighing on several private equity trusts with exposure to the sector. We believe this to be overdone in the case of Oakley Capital Investments (OCI), which appears well positioned to benefit […]
On the right side of AI The rapid progress of AI (especially agentic AI) has raised legitimate concerns over the business models of some companies within the software sector, affecting several private equity trusts exposed to these sorts of businesses. We believe these concerns are overstated for the companies in Oakley Capital Investments’ (OCI) portfolio. […]
On the right side of AI? Progress in the capabilities of agentic AI has raised concerns for some investors over the durability of parts of the software sector, weighing on several private equity trusts with exposure to the sector. However, the managers of Oakley Capital Investments (OCI) feel it is well positioned to benefit from […]
A listed gateway to private AI Shaires Holdings Ltd (SHR) is seeking to provide public market investors with exposure to some of the world’s largest private technology businesses, particularly those at the forefront of AI. A large proportion of technology value creation now occurs before companies reach public markets, leaving traditional equity investors excluded from […]
A listed gateway to private AI Shaires Holdings Ltd (SHR) is seeking to provide public market investors with exposure to some of the world’s largest private technology businesses, particularly those at the forefront of AI. A large proportion of technology value creation now occurs before companies reach public markets, leaving traditional equity investors excluded from […]
A sharper edge for BGUK Baillie Gifford UK Growth Trust (BGUK) offers a different way to invest in the UK through a concentrated portfolio of high-quality growth companies. Performance has been held back by a long period in which UK growth investing has been out of favour. Even so, many holdings have continued to make […]
A sharper edge for BGUK Baillie Gifford UK Growth Trust (BGUK) provides access to the UK market through a concentrated portfolio of growth companies. Its performance appears to have been affected by a prolonged period in which UK growth investing has been out of favour. However, the trust states that many portfolio companies have continued […]
A sharper edge for BGUK Baillie Gifford UK Growth Trust (BGUK) offers a differentiated way to access the UK market through a concentrated portfolio of high-quality growth companies. Its performance has been held back by a prolonged period in which UK growth investing has been out of favour. However, many portfolio companies have continued to […]
Ageing well Temple Bar (TMPL) turned 100 earlier this year and continues to perform strongly. Its one-, three-, and five-year returns are at or near the top of its peer group, and its dividend keeps rising. The managers also continue to take a contrarian approach, finding attractively valued stocks in a UK market that is […]
Ageing well Temple Bar (TMPL) turned 100 earlier this year. Its one-, three-, and five-year returns are at or near the top end of its peer group, the dividend has continued to climb, and the managers state that they continue to swim against the tide, identifying stocks they consider interesting and attractively valued in a […]
Ageing well Temple Bar (TMPL) turned 100 earlier this year but shows no signs of slowing down. Its one-, three-, and five-year returns are at or near the top end of its peer group, the dividend continues to climb, and the managers continue to swim against the tide, finding interesting and attractively valued stocks in […]
Ready for a growth revival? Montanaro European Smaller Companies (MTE) is a growth-focused European smaller companies fund. Its manager observes that, in recent years, it has faced headwinds, with value investing more in favour in Europe and elsewhere. Earlier this year, performance was impacted by a sell-off in software companies as investors considered the potential […]
Ready for a growth revival Montanaro European Smaller Companies (MTE) is an unapologetically growth-focused European smaller companies fund. As such, it has faced significant headwinds in recent years, with value investing much more in favour in Europe and elsewhere. Earlier this year, performance was affected by a sell-off in software companies as investors considered the […]
Ready for a growth revival Montanaro European Smaller Companies (MTE) is a growth-focused European smaller companies fund. It has faced strong headwinds in recent years as value investing has been more popular in Europe and elsewhere. Earlier this year, performance was hurt by a sell-off in software shares as investors weighed the potential impact of […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) has benefited from its diversified portfolio during a period of high regulatory and market uncertainty for renewable energy. Lower power price forecasts and policy changes, including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism and the extension of the Electricity Generator Levy, […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) appears to have benefitted from its diversified portfolio during a period of significant regulatory and market uncertainty for the renewable energy sector. Whilst reductions in power price forecasts and government policy changes – including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism […]
Diversification pays dividends Foresight Environmental Infrastructure (FGEN) has demonstrated the benefits of its diversified portfolio during a period of significant regulatory and market uncertainty for the renewable energy sector. Whilst reductions in power price forecasts and government policy changes – including revisions to inflation-linked renewable subsidies, the planned removal of the Carbon Price Support mechanism […]
Global growth with a wider lens After a tough period for growth investing, Monks Investment Trust (MNKS) has seen its performance improve markedly over the past year, helped by holdings such as TSMC, NVIDIA, SpaceX and Schiehallion. With the economic outlook becoming less certain, the managers have been adjusting the portfolio to allow it to […]
