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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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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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 IPX dropped 31.4p to 94.2p, close to a nine-year low, on news that just over £2bn had been withdrawn from Impax funds in the first quarter […]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.
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Mercantile rues missing out on 2025’s “mid-cap” bid bonanza

Mercantile (MRC), JPMorgan’s £1.7bn UK “mid-cap” investment trust, underperformed in the year to 31 January as the portfolio missed out on most of the takeover bids made for undervalued British companies below the FTSE 100. Fund managers Guy Anderson and Anthony Lynch said the UK market “experienced a flurry of incoming takeover activity” with more […]
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Gresham House Energy Storage delays £150m earnings target after two battery projects get 2029 connection dates

Gresham House Energy Storage Fund (GRID) will not hit its £150m earnings target by the end of next year after the National Electricity System Operator (NESO) announced 2029 energisation dates for two of the five projects in its three-year recovery plan. The connection offers of July 2029 for Lister Drive, a 57MW battery energy storage […]

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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