Compass: The AIC's monthly newsletter

This month in Compass, we discover how to invest in SpaceX, Revolut and TikTok. Ian Cowie hunts for opportunities in Europe and we reveal the trusts that would have made you an ISA millionaire.

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Thematic research

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

Situation normal?

12 March 2026

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

Dividend culture is on the rise in emerging markets.

11 March 2026

Several countries across emerging markets have taken steps to foster a stronger dividend culture.

The ageing society – a structural shift investors cannot ignore

6 March 2026

Most investment themes depend on something going right: a technology gaining adoption, a policy being passed or economic growth accelerating. Ageing is different.

Schroders acquisition ‘came as a surprise’ to Nick Train

13 March 2026

The unexpected £9.9bn deal made Schroders the top performing stock in Finsbury Growth & Income, boosting the trust’s portfolio value by 3.1% last month.

With much regret, Edinburgh Worldwide shareholders should take up the board’s 100% tender offer in full

13 March 2026

This week, much to our disappointment, Edinburgh Worldwide (EWI) announced proposals for a 100% tender offer which, if enacted, would bring about the demise of the trust as we know it. On the face of it, the proposals appear to be a response to the ongoing attacks that EWI is facing from the New York-based […]

Fidelity Emerging confident it can “navigate turbulent” markets after another half year of outperformance

13 March 2026

Fidelity Emerging Markets (FEML) is on a roll with a half-year total underlying return of 35.5% that smashed its benchmark and extends the three years of outperformance it reported at annual results in October. For the six months to 31 December, shareholders enjoyed a 38.9% total return as the shares narrowed their gap, or discount, […]

AVI Japan prepares for more battles after using funds from Fidelity merger to boost its activist positions

13 March 2026

AVI Japan Opportunity Trust (AJOT) fund manager Joe Bauernfreund is looking forward to another busy year of pushing for change at some of the country’s cash-laden small caps after using funds from the merger with Fidelity Japan last November to strengthen its activist positions. Last year was a “transformative” one for the seven-year-old investment trust […]

Morning briefing: Tetragon launches $50m tender offer; Scottish Oriental cuts First Sentier’s fee; Valhalla lifts HgCapital stake to 9%; Polus raises its position in DGI9’s Arqiva; “exciting times,” says Develop North; plus GRID

13 March 2026

Tetragon Financial Group (TFG), the £1.2bn hedge fund and alternative investments platform stuck on a massive 65% discount, has launched a $50m tender offer for its non-voting shares which have slid 19% this year. As with previous TFG tenders, this will be a “modified Dutch auction” in which shareholders can tender their shares at prices […]

Finsbury Growth & Income Trust

13 March 2026

Centenary focus on future 'digital winners.

ICG Enterprise Trust

13 March 2026

Shareholder seminar 2026: resilience and growth.

Law Debenture Corporation

12 March 2026

Outperforming with consistency.

Ruffer Investment Company

12 March 2026

RICA had a good 2025, performing in up and down periods.

Alliance Witan

12 March 2026

Returns based more in reality than hope.

Transaction in Own Shares

13/03/2026 - 17:49

The European Smaller Companies Trust

Transaction in Own Shares

13/03/2026 - 17:46

Bankers Investment Trust

Issue of Equity

13/03/2026 - 17:46

AVI Japan Opportunity Trust

Transaction in Own Shares

13/03/2026 - 17:41

BlackRock Greater Europe

Transaction in Own Shares

13/03/2026 - 17:33

JPMorgan Emerging Markets Growth & Income

Compass: The AIC's monthly newsletter