Compass: The AIC's monthly newsletter

This month Compass blasts off, revealing the investment trusts joining the space race. And Ian Cowie analyses why investment trusts outperform their sister funds.

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Thematic research

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

A shot in the arm

8 May 2026

Pension fund cash could be a boon for the sector.

No country for old energy

8 May 2026

As the energy mix evolves, renewables look increasingly attractive, despite market scepticism.

I fought the war, and the war won

29 April 2026

A year on from Liberation Day, Kepler analysts look at who is winning the trade war.

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Aberdeen trust suite agrees standstill with Saba

It appears that the recent announcement that Aberdeen had agreed a standstill agreement with Saba on behalf of Herald, has implications for the wider suite of Aberdeen trusts. In an email from the Aberdeen marketing team this morning, Aberdeen said that “the Aberdeen trust suite has agreed a standstill with Saba at the Board of […]
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British Land upbeat as campuses and retail parks power ahead

British Land (BLND) has released an upbeat set of annual results, with record leasing activity across its campuses portfolio and continued momentum in retail parks helping to drive rental growth, higher earnings and a more confident outlook from management. Underlying profit for the year to 31 March 2026 rose 5% to £294m, while underlying EPS […]
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Schroder UK Mid Cap agrees truce with Saba through tender offer

Schroder UK Mid Cap Fund plc has reached an agreement with activist investor Saba Capital that appears to draw a line under the threat of a prolonged campaign against the trust. The company is proposing a tender offer for up to 100% of the share capital at NAV less costs, giving shareholders the option of […]
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Morning briefing: Impax Environmental completes exit tender, Baillie Gifford Japan seeks buyback authority renewal, BlackRock Energy and Resources Income benefits from energy transition and mining stocks, and HOME releases interims

Impax Environmental Markets (IEM) has completed its exit tender offer, repurchasing just over 148.2m shares, all of which will be cancelled. As previously announced, the scale of the tender – which was designed to give shareholders the opportunity to exit and avoid being trapped in a vehicle controlled by Saba Capital – dramatically shrinks the […]
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Long-time Caledonia director Charles Cayzer steps down

The Cayzer family owns around half of the trust's shares, with relative Will Wyatt taking over from David Stewart as chair.

Fidelity European Trust

20 May 2026

A rare opportunity in high-quality European equities.

Regional REIT

20 May 2026

Encouraging progress.

VietNam Holding

14 May 2026

Agile and differentiated exposure to Vietnam.

Invesco Bond Income Plus

14 May 2026

High yield bonds in a world of chaos.

MIGO Opportunities Trust

13 May 2026

MIGO is heavily concentrated in discount opportunities with return catalysts on the horizon.

Block listing Interim Review

19/05/2026 - 18:12

JPMorgan American

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Transaction in Own Shares

19/05/2026 - 18:05

BlackRock Greater Europe

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Transaction in Own Shares

19/05/2026 - 17:57

BlackRock Smaller Companies

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Issue of Equity

19/05/2026 - 17:52

Ashoka WhiteOak Emerging Markets

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Transaction in Own Shares

19/05/2026 - 17:33

Schroder Asian Total Return

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Glossary

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