Compass: The AIC’s monthly newsletter

This month in Compass, our UK managers are gearing up for good times and Ian Cowie goes on an Indian adventure.

Latest articles, press releases and videos

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Investment taxes loom large

David Prosser looks at how to make the most of tax-free savings allowances.

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Investment company 2023 review (updated)

Mergers, buybacks, liquidations and manager changes dominate corporate activity. Nine investment companies change managers. Discounts hit post-2008 nadir in October.

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“Under-owned, underestimated and undervalued”: but could 2024 be the year emerging markets come good?

Investment company managers on upcoming elections and opportunities in 2024.

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Are you ready for VCT season?

David Prosser explores how VCTs can provide a tax-efficient option for investors.

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On the income hunt once more

David Prosser explores how investment companies can offer income opportunities as inflation falls

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Change in the air

David Prosser asks whether the headwinds facing investment companies are about to turn into tailwinds.

New year, new beginnings: what themes or countries are you particularly positive about?

Emily Fletcher, Co-Manager of BlackRock Frontiers, discusses the countries and themes she's feeling optimistic about.

New year, new beginnings: what could bring the UK back in favour?

Alex Wright, Portfolio Manager of Fidelity Special Values, on what could bring the UK back in favour.

New year, new beginnings: what do you think could happen to inflation and interest rates?

James Hart, Investment Director of Witan Investment Trust, on what he thinks could happen next for inflation and interest rates.

New year, new beginnings: could you reflect on your performance in 2023?

Fund managers from Witan Investment Trust, Fidelity Special Values and BlackRock Frontiers reflect on their performance this year.

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Investment company 2023 review

Mergers, buybacks, liquidations and manager changes dominate corporate activity.

New year, new beginnings: what is your biggest cause for concern in 2024?

Annabel Brodie-Smith discusses concerns for 2024 with James Hart, Alex Wright and Emily Fletcher.

Thematic research

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

Keep It Slightly-unconventional, Stupid

22 May 2024

We argue a position in bonds should be diversified with alternatives.

Why'd you have to go and make things so complicated?

15 May 2024

European growth may be more complicated, and positive, than we suspected.

REITs: Looking at UK office investments

15 May 2024

In this Hardman Talks, Mike Foster joins Larissa Adams to discuss office investments in the real estate sector.

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Big Broadcast: Middlefield – Warren Buffett is buying Canada, shouldn’t you?

Middlefield Canadian Income fund managers Dean Orrico and Rob Lauzon describe how Canada offers plenty of large, good value income stocks that are growing their dividends.
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AIC fears general election will delay cost disclosure reforms

The Association of Investment Companies says the delay is ‘frustrating’, while pensions minister Baroness Altmann confirms all new reforms will have to start from scratch.
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QD view – Signals turn green for real estate

Real estate is a cyclical market where timing is everything, and signals are starting to flash that the sector is primed to stage a recovery. Market data, company activity and macroeconomic events appear to be aligning to suggest that now is the time to invest in real estate. After months in the doldrums as values […]
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Peter Spiller: Infrastructure offers ‘fantastic returns’ and trusts are a big bargain

With the outlook for US equities and bonds generally poor, Capital Gearing fund manager says depressed investment company share prices provide the best scope for gains.
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Capital Gearing drops Juniper over discount control blunder

Annual report shows second year of sub-inflation returns from fund run by Peter Spiller, with its performance hampered by the temporary suspension of share buybacks.

Bankers

24 May 2024

Greater investment flexibility may boost returns.

NB Private Equity Partners

23 May 2024

Wider operating company EBITDA margins in 2023.

City of London Investment Trust

23 May 2024

Deciphering UK Equity Income: insights from City of London investment trust manager.

City of London Investment Trust

23 May 2024

Unlocking the investment potential of the UK.

Worldwide Healthcare Trust

23 May 2024

Innovation, innovation, innovation’ say the managers.

Aberforth Split Level Income Trust Plc - (Reissue - Amendment to US Disclaimer) Update on planned reconstruction and voluntary winding-up of the Company and further dividend

24/05/2024 - 18:50

Aberforth Split Level Income

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Transaction in Own Shares

24/05/2024 - 19:20

Greencoat Renewables PLC

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BlackRock Sustainable American Income Trust Plc - Transaction in Own Shares

24/05/2024 - 18:00

BlackRock Sustainable American Income

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Transaction in Own Shares

24/05/2024 - 19:00

Baronsmead Venture Trust PLC

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Transaction in Own Shares

24/05/2024 - 18:50

Baronsmead Second Venture Trust PLC

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Glossary

Familiarise yourself with industry terminology.

Research tools

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Invest & engage

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