Gavin Lumsden

Seraphim Space, the manager of Seraphim Space (SSIT) investment trust, will launch an exchange-traded fund tomorrow offering investors access to both public and private space technology companies. The actively managed Seraphim New Space ETF will, according to The Times, have exposure to the “new cohort of recently listed New Space companies [which] are disrupting incumbent […]

A 20% share price rally last month has tipped Onward Opportunities (ONWD) above £50m of assets for the first time since launch over three yeas ago. The UK smaller companies investment company, which came to market with less than £20m in March 2023, said a string of positive company results had helped propel the portfolio […]

Seraphim New Space UCITS ETF is launched in Europe today, listing on the London Stock Exchange under a dollar share class of SPCE and a sterling share class of SERA. The SERA ticker will also be used on the Borsa Italiana in Milan, while on Zurich’s Xetra it will trade as S3RA. At the heart of […]

Gresham House Energy Storage (GRID) grew net asset value by 14.6% in the second quarter, boosting the battery fund as its board resists pressure from activist shareholders to wind up on account of its longstanding discount, with the shares last night closing 26% below the new NAV. A half-year trading statement showed NAV per share […]

CT Global Managed Portfolio Trust plans to switch to monthly dividends next year and make more use of gearing, or borrowing, as part of changes to make the one-stop investment trust shop more attractive for shareholders. The changes, which include improvements to how the trust measures its performance, came in annual results showing a good […]

Helge Skibeli, lead manager of JPMorgan Global Growth & Income (JGGI), JP Morgan’s £3.3bn investment trust flagship, has announced he will retire in 18 months’ time. Skibeli, who is credited with reviving the 149-year-old closed-end fund when he took over seven years ago, will leave JP Morgan Asset Management (JPMAM) in February 2028 after 40 […]

Glenstone has seen support for its £56m cash bid for Alternative Income REIT (AIRE) rise to over 44%, improving its chance of securing control by tomorrow’s 1pm deadline. As of 6pm yesterday, on the 58th day of its its 70p per share offer, Glenstone said it had acceptances from over 35.7m AIRE shares, 44.4% of […]

Schroder European Real Estate (SERE) shareholders yesterday approved the two-to-three-year wind-up of the £81m real estate investment trust announced in June. At a general meeting, 99.4% of votes on a 54% turnout backed an amendment to the company’s articles and a change to investment strategy so that its assets can be sold and capital returned […]

The UK National Wealth Fund’s decision to back Tungsten West last month helped lift the net asset value of Baker Steel Resources Trust (BSRT) by over 17%, consolidating its position at the top of the buoyant AIC Commodities and Natural Resources sector. Tungsten West (TUN), a £646m Devon-based tin and tungsten miner that is BSRT’s top holding, […]

August was a glittering month for mining investment companies as geopolitical turmoil and concerns about the “debasement” of the US dollar saw gold rally 10% while industrial metals continued to enjoy booming demand from the worldwide rollout of artificial intelligence and the transition to clean energy. As a result, four of the five biggest investment […]