Compass: The AIC's monthly newsletter

This month in Compass, we reveal the best performing sectors of 2025 and Ian Cowie shares his fantasy fund muck ups.

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Leeds Reforms are a big step in the right direction, but issues remain and government could be bolder

AIC responds to package of measures announced by the Chancellor today.

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“This is the dawn of a new era for shareholder rights”

AIC comments on Digitisation Taskforce Final Report.

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AIC welcomes prospectus rule changes

Investment companies can now issue 100% of share capital without a prospectus.

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The best way to profit from smaller companies

Investment trusts are better suited to invest in smaller companies, reports David Prosser.

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Meet the manager: Phil Kent

Investment Adviser to GCP Infrastructure Investments.

Me and my trusts: Jonathan Davis - what do you particularly like about investment trusts?

Nick Gardner, investment editor at the Association of Investment Companies, asks Jonathan Davis what he particularly likes about investment trusts.

Me and my trusts: Jonathan Davis - how did you discover investment trusts?

Nick Gardner, investment editor at the Association of Investment Companies, asks Jonathan Davis how he discovered investment trusts.

Me and my trusts: Jonathan Davis - what investment trusts do you hold in your own portfolio?

Nick Gardner, investment editor at the Association of Investment Companies, asks Jonathan Davis what trusts he holds in his own portfolio and why.

Me and my trusts: Jonathan Davis

Jonathan Davis, host of the Money Makers podcast and editor of the Investment Companies Handbook, on how he discovered investment trusts, what he likes about them and what trusts he holds in his portfolio.

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Investment trust review H1 2025

A “whirlwind half-year” of mergers, acquisitions and liquidations.

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What’s happening with discounts?

David Prosser on the trend of narrowing discounts on investment trusts.

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Fantasy fund manager: returns buoyed by global rebound

Markets have shrugged off geopolitical turbulence, leaving five of our contestants with gains for 2025’s first half.

Thematic research

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

We feel the need. The need for (the best) returns

12 July 2025

The Kepler team pauses for a mid-year reality check on their 2025 picks

Waiting for Godot

9 July 2025

We ask what scenarios could see UK equities finally recover.

We’re halfway there: in review

4 July 2025

In our summer event this week we heard from managers running assets all around the world.

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Goodbye prospectuses? FCA says investment companies can double in size without them

Investment companies will be able to issue up to 100% of their share capital without issuing a prospectus, the Financial Conduct Authority says. The investment companies sector caught a rare break from the City regulator today when the Financial Conduct Authority announced that London-listed closed-end funds could raise up to 100% of their existing share […]
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Home Reit shareholders dealt fresh blow as ex-manager goes into administration

Home Reit’s former fund manager Alvarium has been declared insolvent, which is likely to make it harder for disgruntled shareholders to receive compensation.
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New rules aim to turbocharge investment trust capital raises

New regulatory reform will allow trusts to issue 100% of their existing equity without issuing an expensive prospectus in a wide-ranging shake-up of financial rules.

How Japan’s corporate culture wars can benefit investors

In recent years, Japan has witnessed a profound shift in its corporate culture, a transformation that is reshaping the nation’s market landscape and unlocking new opportunities for investors.
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Under-pressure Partners Group Private Equity looks ready to start buying back its cheap shares

Two partial disposals of top-10 holdings should leave the Swiss-run private equity fund with sufficient cash to start share buybacks, say analysts. Partners Group Private Equity has sold down two top 10 investments, paving the way for the start of much-needed share buybacks under its new capital allocation policy announced four months ago. Euro shares […]

Baker Steel Resources Trust

15 July 2025

High interest in assets, 16.4% return in H125.

International Public Partnerships

15 July 2025

Operational and financial performance on track.

Utilico Emerging Markets

10 July 2025

Charles Jillings from Utilico Emerging Markets.

Geiger Counter

10 July 2025

Enriched prospects.

Henderson Far East Income

9 July 2025

Positioned to benefit as Asia outperforms.

Transaction in Own Shares

15/07/2025 - 17:44

BlackRock Throgmorton Trust

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Transaction in Own Shares

15/07/2025 - 17:44

Polar Capital Technology

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Transaction in Own Shares

15/07/2025 - 17:42

Montanaro UK Smaller Companies

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Transaction in Own Shares

15/07/2025 - 17:35

Fidelity Emerging Markets

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Transaction in Own Shares

15/07/2025 - 17:27

Montanaro European Smaller Companies

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Glossary

What does that word mean? Find your way around investment trust jargon.

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