Compass: The AIC’s monthly newsletter

This month in Compass, Ian Cowie goes on a hunt for ISA millionaire trusts and Faith Glasgow investigates what mergers mean for investors.

Latest articles, press releases and videos

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Investment company H1 2022 review

Existing companies raise £4 billion in a challenging first half.

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Stay calm and diversify

In tough markets, David Prosser discusses why it could pay to have a diversified portfolio and how investment companies can allow you to achieve this.

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AIC supports greater regulatory oversight of ESG data and ratings providers

Response to the FCA’s feedback statement “ESF integration in UK capital markets”.

How are you approaching social impact in your portfolio?

The managers of International Public Partnerships, Impact Healthcare REIT and HICL Infrastructure reveal how they are approaching social impact and ESG in their portfolios.

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Latin America to the rescue?

Investment company managers comment on inflation-busting potential of Latam equities.

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Soaring inflation

How property and infrastructure investment companies can help protect portfolios.

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Four ways to build returns in real estate

With property trusts rebounding in the wake of the Covid-19 pandemic, Jennifer Hill finds compelling reasons to invest.

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Focussing on what matters in Japan

Fidelity Japan Trust portfolio manager Nicholas Price discusses the importance of bottom-up stock picking and focussing on companies that can continue to grow over the medium term.

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Advisers’ investment company purchasing patterns shift in Q1 2022

Commodities sector jumps to fifth place in first quarter of year.

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How much is too much?

David Prosser discusses how much you can withdraw from your investment without running out of money.

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AIC welcomes pragmatic approach to requirement for FTSE 350 companies to appoint challenger auditors

However, it is important that FTSE 350 investment companies are excluded from this requirement.

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Queen’s Platinum Jubilee

Experts explain why investment companies continue to be successful.

Thematic research

Third-party thematic research on investment companies can be found below.

Investment company liquidity – steady as she goes, but could be better

19 March 2024

A review of investment company liquidity in London since 2016.

Listed private equity – Performing a balancing act

6 March 2024

UK-listed private equity investment companies maintained strong NAV total returns (TR) over the last five and 10 years of c 14% per year on average, despite recent monetary tightening and other macro headwinds.

Range anxiety

7 February 2024

We look at what context we can gain from ten years of discount analysis.

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India Capital Growth serves up great absolute but poor relative returns

India Capital Growth Fund reports NAV growth of 28.6% and share price growth of 34.1% for 2023. However, the benchmark S&P BSE Midcap Total Return Index rose by 38.4% The share price discount to NAV narrowed over the year to just over 3.9% at the year end. The board intends to continue to repurchase shares […]
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International Public Partnerships results light on crucial detail

International Public Partnerships says that over 2023 its NAV fell by 4.1% to 152.6p [like BBGI, it doesn’t say what the NAV total return was, it was 1.0%, and while there is room to say that the share price correlation with the All-Share is just 0.4, there wasn’t room to say that the return to […]
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BBGI can’t pretend that 2023’s results were good

BBGI Global Infrastructure’s NAV total return for 2023 was 3.9% [we had to work that out, for some reason, the company went out of its way to avoid saying it, resorting to publishing an annualised NAV return since IPO instead, but if you think that’s odd, the really damning thing is the absence of any […]
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M&G Credit Income had a good 2023

M&G Credit Income returned 10.4% in NAV terms over 2023, ahead of the 9% return on its benchmark. The statement says that outperformance came from tightening credit spreads, which drove capital growth,and strong income returns supported by higher yielding private assets. The portfolio was substantially protected from interest rate rises and rate-driven volatility by the […]
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QuotedData’s morning briefing 28 March 2024 – IVPB, IVPG, IVPM, IVPU, RIII, TENT, DGI9, HOME

In QuotedData’s morning briefing 28 March 2024: Not enough shareholders of Invesco Select Trust (IVPB / IVPG / IVPM / IVPU) voted on the plan to merge the four asset classes into just the global equity income class. The percentage voting requirement to get the deal approved has been relaxed and the timetable pushed back. […]

Greencoat UK Wind

25 March 2024

 Acquisitions generating more green

Witan Investment Trust

22 March 2024

QuotedData's Weekly News & Interview.

Henderson EuroTrust

22 March 2024

Proposed merger with Henderson European Focus Trust.

HgCapital Trust

22 March 2024

Strong earnings growth and realisations in FY23.

Invesco Perpetual UK Smaller Companies

22 March 2024

QuotedData's Weekly News & Interview

TwentyFour Select Monthly Income Fund - TwentyFour Update

28/03/2024 - 08:10

TwentyFour Select Monthly Income

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Transaction in Own Shares

28/03/2024 - 08:20

Ruffer Investment Company Limited

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Form 8.3 - Tritax Big Box REIT plc

28/03/2024 - 08:10

Janus Henderson Investors

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2023 Second Half-Year Dividend

28/03/2024 - 08:10

International Public Partnerships

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Transaction in Own Shares

28/03/2024 - 08:10

RTW Biotech Opportunities Ltd

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Glossary

Familiarise yourself with industry terminology.

Research tools

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Invest & engage

Browse a list of platforms that allow you to buy and hold investment companies. Discover how to have your say on how your investment company is run.