Compass: The AIC’s monthly newsletter

This month, Compass gets in the festive mood. Ian Cowie piles on the pounds with 2023’s winners and our fund managers look at what’s in store for 2024.

Latest articles, press releases and videos


Bigging up Japan

David Prosser considers whether UK investors could benefit from more exposure to the world’s third largest economy.

Alliance Trust: How will a recession impact equities?

As fears that high interest rates may persist, we examine how a potential recession could affect equities with Ben Whitmore and C.T. Fitzpatrick in the latest ‘big question’ interview.


AIC responds to HMRC’s consultation on stamp taxes on shares

The AIC has issued the following comment.


How much more pain is there to come?

Investment company managers on interest rates, inflation and bond markets.


Putting their money where their mouth is

Directors’ personal stakes in investment companies show their interests are aligned with shareholders, argues David Prosser.

What's the outlook for private equity over the medium to long term?

Helen Steers from Pantheon International, Richard Pindar from Literacy Capital, and Colm Walsh from ICG Enterprise give their views on the outlook for the sector.

Demystifying private equity (full video)

Private equity managers discuss the challenges and opportunities for the sector: Helen Steers, Pantheon International, Richard Pindar, Literacy Capital and Colm Walsh, ICG Enterprise.

What is your ESG strategy? How are your investee companies helping with the issues?

Managers from ICG Enterprise, Pantheon International and Literacy explain their ESG strategy and how their investee companies are helping to contribute to social and environmental issues.

What’s your view on the discount/premium on your trust. Could it represent a buying opportunity?

Managers from Pantheon International, Literacy Capital, and ICG Enterprise explain why their trust could be a buying opportunity.

Private equity managers respond to the recent criticisms of the sector

Private equity managers from ICG Enterprise, Literacy Capital and Pantheon International answer questions on the valuation of portfolio companies, high fees, and the buyback of shares.

How are private equity portfolio companies faring in the current challenging economic conditions?

The AIC spoke to private equity managers from Pantheon International, Literacy Capital and ICG Enterprise to hear their views on the challenging economic environment.


Go woke, not broke

Greater diversity on investment company boards is good for shareholders, writes David Prosser.

Thematic research

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

Built to last

22 November 2023

UK commercial property trusts have weathered a fierce storm, but our analysts think their fortunes may already have passed a nadir...

The Asian century

15 November 2023

Failing to invest in Asia means omitting half the global economy from your portfolio...

Back to basics

1 November 2023

Higher rates mean re-visiting portfolio construction...

Quoted data logo

QuotedData’s weekly news update 8th December

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: Chrysalis (0:20) Baring Emerging EMEA Opportunities (3:23) Ecofin US Renewables (7:21) This week’s interview was with Joe Bauernfreund from AVI Japan Opportunity Trust– watch it […]
Citywire logo

Sub-scale Barings Emerging warns it may have to fold

Board of £73m investment trust hit by last year’s writedown of Russian assets warns it could become unviable if a performance-related tender offer is triggered in 2025.
Quoted data logo

QD view – your vote will count in Arb fight

Discounts in the investment trust sector are almost double their average[1], with the combination of cost disclosure rules and rising interest rates creating widespread selling pressure. It is perhaps not surprising that this has caught the attention of activist investors who spot an opportunity. Saba Capital is the latest arbitrageur on the block, thought to […]
Citywire logo

Abrdn commits to buy over £30m of shares in its shrinking trust range

UK’s third-largest investment company manager will reinvest six months of fees in its 17 closed-end funds, a sign of confidence in a range that has contracted this year.
Citywire logo

SpaceX take-off could boost Baillie Gifford trusts and Seraphim

Elon Musk’s SpaceX begins talks on a tender offer that could up the value of the unlisted company by $25bn, a boon to six trusts that back it or invest in the sector.

Pacific Horizon

8 December 2023

Annual Overview from QuotedData

Schroder British Opportunities

6 December 2023

Results analysis from Kepler Trust Intelligence

Brown Advisory US Smaller Companies

6 December 2023

Investing in US small caps with investment trusts

Apax Global Alpha

4 December 2023

Hidden gems strategy delivering new investment opportunities

Aberforth Split Level Income

4 December 2023

New Research: Kepler Trust Intelligence

Result of AGM

09/12/2023 - 02:30

Ashoka India Equity Investment Tst

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Transaction in Own Shares

09/12/2023 - 02:20

Smithson Investment Trust PLC

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Temple Bar Investment Trust Plc - Transaction in Own Shares

08/12/2023 - 17:50

Temple Bar Investment Trust

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Transaction in Own Shares

09/12/2023 - 02:10

Schroder BSC Social Impact Trust

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Transaction in Own Shares

09/12/2023 - 02:10

Schroder AsiaPacific Fund PLC

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Research tools

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