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Investment company 2023 review (updated)
Mergers, buybacks, liquidations and manager changes dominate corporate activity. Nine investment companies change managers. Discounts hit post-2008 nadir in October.
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Investment company 2023 review
Mergers, buybacks, liquidations and manager changes dominate corporate activity.
Investment company 2021 review
(Updated) Record levels of fundraising and industry assets, with as many mergers this year as in the previous five years combined.
Related Industry News
BH Macro shares fall to record discount after ‘rollercoaster’ year
A £315m share issue and sharp reversal in interest rate expectations made for a difficult 2023 for the Brevan Howard hedge fund, recent annual results show.
Numis: Trust sector shrank by £6.7bn in 2023
London-listed closed-end funds suffer a 'rare' year of outflows after share issues collapse in a bear market and investment companies return capital and buy back a record £4bn of stock.
Investec: ‘Buy’ BH Macro ahead of ‘choppy waters’
Analysts at Investec are bullish on BH Macro, believing the hedge fund company is a bargain on a 13% discount and offers returns uncorrelated to wider stock markets.
JPMorgan Cazenove adds biotech, Japan and hedge fund after 3i-propelled 2023
Analyst Christopher Brown records three changes to his investment company model portfolio, which outperformed thanks to outsized returns from private equity giant 3i Group.
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Data provided by Morningstar.
Company documents provided by FE fundinfo.
