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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AIC asks government to explain exclusion of investment companies from Pension Schemes Bill

House of Lords begins committee stage discussions on bill today.

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Shareholder apathy remains a danger, AIC voting figures show

Voting deadlines for Edinburgh Worldwide Investment Trust are imminent.

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Time for private equity to bounce back?

David Prosser on the tailwinds likely to support private equity trusts this year.

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Fantasy fund manager: it’s a photo finish for the top spot

As the 2025 competition draws to a close, the top two contestants have made almost 30% in just 12 months.

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Investment trust 2025 review (updated): another record year for corporate activity

27 deals done and £10 billion of shares bought back, both new records.

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Time is running out to vote on Saba’s proposals at Edinburgh Worldwide

See table below for voting deadlines on four major platforms.

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AIC releases 53 years of investment trust discount history

The data paints a picture of how investment trust discounts have changed over more than half a century.

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The one financial resolution you really need for 2026

David Prosser explains the advantage of setting up regular savings into the stock market.

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The top performing trusts and sectors of 2025

Commodities lead the way.

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Which were the most popular investment trusts of 2025?

David Prosser runs through some of the best-selling trusts of the past year.

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Time for active managers to shine

David Prosser explains why passive investors should consider investment trusts in 2026.

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Meet the manager: Sanjeev Lakhani

Co-Portfolio Manager of Impax Environmental Markets.

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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Saba blocks Edinburgh Worldwide tender

The £813m Baillie Gifford trust will now pursue the activist’s alternative tender plan after today’s ‘very disappointing outcome’.
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Edinburgh Worldwide tender blocked

Edinburgh Worldwide has announced that shareholders have voted 53.8% to 46.2% to block the proposed tender, and this will now not go ahead. The turnout was 68.4%, down from the 70.5% turnout earlier this year. However, the board says the tender was largely opposed by Saba and two other institutions (we’d love to know who […]
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Active ETF Intelligence – taking stock of the first few weeks

We now have the first few episodes of our new weekly livestream, Active ETF Intelligence (live every Wednesday at 11am), under our belts. It therefore feels like an appropriate moment to take stock of what we have covered so far and reflect on where the conversations might head next. News – new launches dominate, as […]
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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.

Lowland

10 April 2026

A solid start to the year.

JPMorgan Emerging Markets Dividend Income

10 April 2026

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

Aberdeen Asia Focus

10 April 2026

Excellent stock selection has driven impressive long-term returns.

Fidelity Special Values

8 April 2026

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

Templeton Emerging Markets

8 April 2026

Equity proposition.

Transaction in Own Shares

10/04/2026 - 17:50

GCP Infrastructure Investments

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Transaction in Own Shares

10/04/2026 - 17:36

BioPharma Credit

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Transaction in Own Shares

10/04/2026 - 17:28

Montanaro European Smaller Companies

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Transaction in Own Shares

10/04/2026 - 17:26

Henderson Smaller Companies

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Transaction in Own Shares

10/04/2026 - 17:24

BlackRock Greater Europe

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Glossary

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

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