Compass: The AIC's monthly newsletter

This month in Compass, Ian Cowie explains what a new PM means to investors, managers reflect on the impact of the Brexit vote and we search for the next mega-IPOs.

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Fantasy fund manager: big gains despite the geopolitical backdrop

Our contestants see double-digit returns on many trusts as bets on commodities and emerging markets pay off.

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How women are giving investment trusts an edge

David Prosser on how female directors could be improving returns.

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Investment trusts: how to profit from the world’s most dynamic private companies

See table of trusts with exposure to SpaceX, ByteDance, Revolut and other potential IPOs.

Pension Schemes Bill: Baroness Bowles warns on exclusion of investment companies

Baroness Sharon Bowles discusses the Pension Schemes Bill and its proposed exclusion of investment companies.

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AIC welcomes FCA listing rules review

Regulator will be considering shareholder rights and conflicts of interest.

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Female representation hits 42% on investment trust boards but lags behind in fund management

Industry “has to be honest with itself”.

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AIC calls for immediate reinstatement of 30% VCT income tax relief

Danger of “collapse in scale-up funding” if government does not reverse decision.

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Why the fire horse may herald the year of the China investor

David Prosser on the positive outlook for Chinese equities.

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The time has come for Saba to “do the decent thing” and respect shareholders’ views

AIC calls on Boaz Weinstein to respect other shareholders in Herald, Impax Environmental Markets and Edinburgh Worldwide.

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New joiner Tritax Big Box REIT means there will be a record seven investment trusts in FTSE 100 index

The £4bn real estate trust is set to join the UK’s index in March.

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Meet the manager: Jacqueline Broers

Portfolio Manager of Utilico Emerging Markets Trust.

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Which investment trusts would have made you an ISA millionaire?

Allianz Technology Trust is top performer returning more than £3.6 million.

Thematic research

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

The changing of the guard

14 July 2026

A World Cup style review

14 July 2026

Full moon rising

2 July 2026

Myths and legends in investment trust M&A.

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GCP Infrastructure wafts higher on wind assets sale

FTSE 250-listed fund GCP Infrastructure Investments (LON:GCP) has sold two operational onshore wind projects at Winscales Moor and Burton Wold. The company completed this disposal at a 13% premium to the latest net asset value (NAV) of these projects.

Small wonders: the hidden gems among smaller companies

There is a wealth of high-quality smaller companies in the UK, overlooked by investors, that are ripe for reappraisal.
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Alternative Income REIT ‘welcomes’ bid interest from bigger rival

Shares in Alternative Income REIT (LON:AIRE) climbed after the commercial property-focused fund said it views a potential all-share offer from AEW UK REIT (LON:AEWU) as superior to a competing bid from Glenstone REIT.
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Impax Environmental Markets launches search for new manager

The newly appointed board of Impax Environmental Markets (IEM), elected following Saba Capital’s successful campaign to replace the trust’s previous directors in June, has moved swiftly to terminate the trust’s investment management agreement with Impax Asset Management. The current manager has a contractual 12-month notice period, but the board has asked Impax Asset Management to […]
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Prologis sweetens SEGRO approach with cash option as board rejects third proposal

Prologis has raised its takeover proposal for SEGRO (SGRO), introducing a £2.7bn partial cash alternative as part of a third proposal that values the UK warehouse landlord at around £13.5bn. The US logistics property group’s latest proposal, submitted on 16 July and rejected by SEGRO’s board the following day, offers shareholders 0.0890 new Prologis shares […]

Monks

16 July 2026

Global growth wider a wider lens.

Real Estate Credit Investments

13 July 2026

FY’26 results: High yield, clear path to dividend cover.

Patria Private Equity

9 July 2026

Resilient portfolio earnings in H126.

Hansa Investment Company

9 July 2026

Hansa’s wide discount arguably doesn’t reflect the transformative year and positive outlook.

BH Macro USD

9 July 2026

BHMG’s role as a portfolio diversifier looks increasingly relevant in today's markets.


 

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Foresight Solar Fund

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Transaction in Own Shares

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BlackRock Smaller Companies

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Transaction in Own Shares

17/07/2026 - 17:33

Biotech Growth Trust

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Transaction in Own Shares

17/07/2026 - 17:26

Fidelity Emerging Markets

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Transaction in Own Shares

17/07/2026 - 17:25

BlackRock Greater Europe

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

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