Mostly early morning news & views on investment companies, funds & markets by Gavin Lumsden, head of news @QuotedData. Formerly @Citywire & @thetimes.
London
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Yay! My thanks to @AICPRESS and all AIC members and investment company fans for my social media award. Makes all those earning morning tweets worthwhile! Congratulations to the many other award winners too! 👏
Best Use of Social Media
Well done to Gavin Lumsden @FundFanatic of QuotedData, who has won Best Use of Social Media!
#investmenttrusts #investmentcompanies #investing
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Sessa Capital lifts its position in Baillie Gifford US Growth #USA to 7.7% from 5%, making the task of getting retail shareholders to vote in defence of the board at the 23 Oct AGM all the more urgent. Sessa likely a supporter of Saba on 29%. londonstockexchange.com/news…
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Shake-up at Syncona’s fund manager where ex NICE boss Dr Samantha Roberts joins as MD and chief executive Chris Hollowood becomes CIO to push life sciences fund’s startups to profitability & return £250m shareholders. Activist Saba owns 16.4% of #SYNC. quoteddata.com/2026/09/synco…
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Tufton Assets #SHIP locked in high charter rates on three more vessels in a further sign of strong market conditions that boosted its annual results last week. Eg Mia Grace +81% at $39,000 a day for 12-14 months & Amilyn + 20% at $15,000 for 9-11-months. quoteddata.com/2026/09/tufto…
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London-listed Vietnam funds continued to struggle in the extraordinary Vingroup led market rally. Vietnam Holding #VNH made 4.5% in year to 30 June vs 32.4% from Vietnam All Share. Vietnam Enterprise #VEIL fell 3.7% vs first half 5.2% gain in Vietnam Index quoteddata.com/2026/09/vietn…
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Gavin Lumsden retweeted
Cordiant Digital Infrastructure to change name after Canada's Cordiant Capital steps down ... bit.ly/4hswUGb #alternativeinvesment #pheasantcapitalmanagement
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I’m in Edinburgh for the Baillie Gifford US Growth Trust shareholder webinar at 2pm. Register at bgusgrowthtrust.com to hear chair Tom Burnet & SID Sue Inglis explain why investors should reject Saba’s attempt to take over #USA at the 23 October AGM. londonstockexchange.com/news…
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Chrysalis rallies 4.5% to 72p after the winding-down growth capital fund returns £25m after selling its remaining stake in Klarna, the US-listed credit provider. The money will be paid out tomorrow through a compulsory purchase of #CHRY shares at 127p.
quoteddata.com/2026/09/chrys…
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HICL Infrastructure #HICL has unveiled its first “enhancer” investment to boost annual returns above 10%, ploughing £68m for 42% of Sweden’s Hector Rail. InfraRed funds are buying the rest of the company from UK infrastructure investor Ancala.
quoteddata.com/2026/09/hicl-…
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UIL #UTL, the £250m flexible investment fund run by the team behind Utilico Emerging Markets #UEM, made 49.8% investment return in year to 30 June with shareholders receiving 83.8% as the market welcomed simplification moves before it goes private in 2028 quoteddata.com/2026/09/morni…
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JPMorgan Emerging Markets Growth & Income #JMGI managers Austin Forey and John Citron are trimming their semiconductor and computer hardware exposure after the trust’s 54.5% return for the year to 30 June. IT stocks reduced to 43.6% from 48.4% so far. quoteddata.com/2026/09/jpmor…
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Boaz Weinstein of Saba is joining the board of SDCL Efficiency Income to oversee its wind-down, as is Richard Pavry the former right hand man of Alexander Darwall at Devon Equity who will represent 16% shareholder General Atlantic. Saba holds 27.8%. investmentweek.co.uk/news/45…
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But Saba is entirely negative when it tries to take control of trusts for its own ends. Join the @QuotedData Friday show at 11am to hear Baillie Gifford US Growth co-manager Gary Robinson say what shareholders will lose if they don’t vote to stop Saba’s 3rd bid to oust #USA board
🚨Don't miss '@QuotedData's In The HotSeat' on Friday 25 September 2026 at 11am where the team will be joined Gary Robinson of Baillie Gifford US Growth.
tinyurl.com/QDITHSUSA
#QuotedData #News #BaillieGifford
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Spiller also tells Citywire: “Saba has no question had a beneficial effect”. The activist’s presence in many trusts spurred boards into buying back shares & undertaking mergers they wouldn’t have done, saying eg it was Saba pressure that got BlackRock to merge #THRG with #BRSC.
Aberdeen’s payment for a 3yr standstill agreement with Saba for 7 of its investment trusts in August was “sordid”, says Peter Spiller of Capital Gearing #CGT, “because it avoids helping shareholders address a large discount”. citywire.com/investment-trus…
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Aberdeen’s payment for a 3yr standstill agreement with Saba for 7 of its investment trusts in August was “sordid”, says Peter Spiller of Capital Gearing #CGT, “because it avoids helping shareholders address a large discount”. citywire.com/investment-trus…
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Citywire reports that Scottish Mortgage #SMT sold 7% of its SpaceX shares in August & September − the maximum amount it was able to − reducing its top holding to 15% of the portfolio currently.
citywire.com/wealth-manager/…
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Good news for Schiehallion #MNTN as @ft reports that drone specialist Tekever saw its valuation jump almost fivefold to $6.4bn following its latest fundraising deal. At 31 Aug it was the 3rd biggest holding in the Baillie Gifford trust at 7.5%. ft.com/content/afe36763-f7de…
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Gavin Lumsden retweeted
Pacific Horizon Investment Trust very strong vs 103 peers in Morningstar's Asia ex-Japan Equity category on 1-3-10yrs Net Total Return. Check in link
good On-Going Cost vs peers
pickafund.com/compare-fund-t…
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Pacific Horizon #PHI lifting maximum it can hold in a single stock as its MSCI All Country Asia ex-Japan benchmark becomes more concentrated in the AI & chip boom. TSMC, Samsung Elec & SK Hynix = 32.5% of the index. Trust returned 65% in yr to 31 July quoteddata.com/2026/09/ai-bo…
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Foresight Solar #FSFL looks to be joining rivals in heading for the exit after chair Tony Roper says the board must “act decisively” to solve the chronic underperformance of the shares, trading on a 25% discount.
quoteddata.com/2026/09/fores…
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Pacific Horizon #PHI lifting maximum it can hold in a single stock as its MSCI All Country Asia ex-Japan benchmark becomes more concentrated in the AI & chip boom. TSMC, Samsung Elec & SK Hynix = 32.5% of the index. Trust returned 65% in yr to 31 July quoteddata.com/2026/09/ai-bo…
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