Compass: The AIC's monthly newsletter

This month in Compass, Ian Cowie analyses the impact of Iran on investment trusts, and our most experienced managers share lessons learned during previous crises.

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All-time high yields on infrastructure investment trust sectors

Renewable Energy Infrastructure and Infrastructure investment trust sectors are nearing all-time highs.

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Investment Trust Update | April 2025

The AIC highlights the attractions of high yield trusts, Polar Capital Global Financials prepares a tender offer and Miton UK Microcap prepares for wind up.

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AIC publishes consultation on statement of recommended practice (SORP)

Deadline for responses is 30 June 2025.

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Impact of Trump’s tariffs on investment trust discounts

Private Equity, Growth Capital and Leasing sector discounts widen most. UK, Global Emerging Markets and Europe sector discounts narrow.

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What are share buybacks and why do they happen?

Nick Britton, Research Director of the AIC explains share buybacks.

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Trusts that offer a port in the storm

Investment trusts that aim to protect your capital could be a good choice now, writes David Prosser.

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Director talk: Caroline Hitch

Caroline is chair of CQS New City High Yield Fund.

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2024/2025 VCT fundraising is third highest on record

VCTs raise £895 million to invest in ambitious young UK companies.

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AIC welcomes regulation of alternative fund managers

The AIC has today welcomed the Treasury’s ‘Regulations for Alternative Fund Managers’ Consultation, and the FCA’s ‘Call for Input: Future regulation of alternative fund managers’.

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Fantasy fund manager: fighting against the Trump dump

Our contestants’ portfolios took a battering in March… with one exception.

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My share, my vote: AIC launches petition to change company law

The AIC has launched our 'My share, my vote' campaign petition to make sure every shareholder has a voice. Richard Stone explains what we're campaigning for and why it's so important.

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My share, my vote: AIC launches petition to change company law

Platforms should not be able to choose whether to pass on voting rights.

Thematic research

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

The game of their lives

2 April 2026

Kepler analyse how UK equity-focussed investment trusts have performed relative to open-ended funds with near-identical mandates.

Bakumatsu

19 March 2026

We make the case for investing less in the USA.

Situation normal?

12 March 2026

A turbulent few years for UK REIT share prices contrasts with steady rental growth.

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3i slump drags Mercantile below benchmark

Large holdings in alternative asset managers caused the greatest damage to performance last year.
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Probe launched into PwC audit of collapsed Digital 9 Infra 

Analysts expect a 75% write down in its NAV per share in its next update.
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Impax AM shares crash as loss of Environmental Markets trust heightens concern over asset outflows

Shares in Impax Asset Management (IPX) plunged 25% today after investors reacted to further outflows from the sustainable investment group worsened by the impending loss of Impax Environmental Markets (IEM). IPX dropped 31.4p to 94.2p, close to a nine-year low, on news that just over £2bn had been withdrawn from Impax funds in the first quarter […]
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Pictet enters active ETF market with five AI-enhanced funds

Pictet Asset Management is preparing to launch five AI-enhanced active UCITS ETFs in Europe, marking the Swiss group’s first move into the region’s ETF market. The funds will be domiciled in Ireland and will cover US, world, emerging markets, Europe and world ex-US equities under the tickers PQUS, PQWD, PQEM, PQEU and PQWX, respectively. Pictet […]
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GRID delays £150m earnings target as connection dates move

The update means four of the battery storage trust's five pipeline projects now have confirmed energisation dates.

Aberdeen Asia Focus

10 April 2026

Excellent stock selection has driven impressive long-term returns.

JPMorgan Emerging Markets Dividend Income

10 April 2026

JEMI helps income investors capture the growth potential of emerging markets.

Lowland

10 April 2026

A solid start to the year.

Templeton Emerging Markets

8 April 2026

Equity proposition.

Fidelity Special Values

8 April 2026

FSV has delivered strong outperformance over the long and short term.

Form 8.3 - LondonMetric Property plc

09/04/2026 - 17:56

Schroder Real Estate

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Form 8.3 - LondonMetric Property plc

09/04/2026 - 17:55

Schroder Real Estate

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Transaction in Own Shares

09/04/2026 - 17:50

HgCapital Trust

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Transaction in Own Shares

09/04/2026 - 17:48

JPMorgan UK Small Cap Growth & Income

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Transaction in Own Shares

09/04/2026 - 17:32

GCP Infrastructure Investments

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Glossary

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

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