Mostly early morning news & views on investment companies, funds & markets by Gavin Lumsden, head of news @QuotedData. Formerly @Citywire & @thetimes.
London
Joined September 2013
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A trading update from Duke Capital #DUKE failed to revive shares in the high-yielding AIM-listed business lender after their 18% fall on Tuesday when an @ADVFN poster highlighted the annual losses reported by one of its borrowers Intec Business Holdings. quoteddata.com/2026/10/duke-…
“If we lose public trust, or don’t establish public trust, then that is going to make the financial position look more precarious,” said Bank of England governor Andrew Bailey on the level of AI borrowing & debate on the level of human control. telegraph.co.uk/business/202…
Gavin Lumsden retweeted
#RMMC is my fourth largest investment trust holding and has been a key component of my YTD performance; notable that the board has opted for lower costs, marketing muscle and star managers over manager continuity - here's hoping the trusts's strong 2026 run (currently fourth best performer in the AIC UK smaller cos sector) is maintained.
Home REIT - the FCA’s job may be done but hopefully not the fraud squad.
Home REIT #HOME says the Financial Conduct Authority has closed its investigation and intends to take no further action against the company that remains the subject of a Serious Fraud Office probe. quoteddata.com/2026/10/home-…
No offence to former Jupiter-bound #RMMC managers George Ensor & Mayan Uthayakumar, but the £82m UK Micro-cap fund has got a cracking deal with Liontrust #LIO, securing star managers Anthony Cross & Hugh Sergeant for a third to half of their normal annual management fee.
River UK Micro Cap #RMMC has reappointed Liontrust as investment manager after securing the services of two of its best-known fund managers, Anthony Cross and Hugh Sergeant, and slashing the management fee from 0.75% to 0.35%. quoteddata.com/2026/10/river…
Cornish Metals #CRNMF got £11.2m investment from commodities giant Glencore as AIM-listed South Crofty tin mine owner sought to raise £135m. Existing backers inc National Wealth Fund & Vision Blue Resources, a vehicle of ex-Xstrata boss Sir Mick Davis.
thetimes.com/article/5514c14…
Investors bet on UK interest rates rising to 4% next month after ONS data shows a surprise fall in unemployment rate to 4.7% & uptick in private sector pay growth to 3%. Investec economist Ellie Henderson said a rise could be framed as “risk management”.
thetimes.com/article/1ed79a9…
“There's no real precedent for how a public company like Tesla gets priced in this," said investment analyst Dan Sheehan from Telos Wealth Advisors on Elon Musk’s suggestion of a multi-trillion dollar merger with SpaceX. bbc.co.uk/news/articles/cr93…
Gavin Lumsden retweeted
US Solar Fund #USF has given its potential buyer a second extension to complete due diligence on a portfolio whose 42 assets it has been assessing for five months. "Frustrating," says Matthew Read @QuotedData. quoteddata.com/2026/10/us-so…
Gavin Lumsden retweeted
Primary Health Properties #PHP to release £500m cash for debt repayment after forging a joint venture with Singaporean sovereign wealth fund GIC. It will use the money to cut debts taken on for last year’s acquisition of rival Assura. tinyurl.com/2u98fft3
Greencoat UK Wnd #UKW is following peers such as Octopus Renewables #ORIT in turning to construction for higher returns, the £4.3bn 9%-yielder on a 14% discount told investors at its briefing last week. citywire.com/investment-trus…
CT UK Capital and Income renames itself CT Progressive Income #CTUK as £327m 3.7%-yielding @aicpress “dividend hero” looks to promote itself as inflation-beating dividend payer. New Columbia manager Dominic Younger needs to improve total returns though.
londonstockexchange.com/news…
Elon Musk has pledged to give one SpaceX share to every child in America, a move worth about $10.5bn. His pledge came after Anthropic announced it would commit 5% of shares from its $1.5trn flotation to a new “public benefit” fund.
thetimes.com/article/9c5aa2e…
UK chancellor John Healey has rejected calls to increase capital gains tax in his first budget on 28 Oct, concerned it could end up costing money. A “steady as she goes” budget’s biggest “revenue raiser” will be a tax raid on banks instead says @thetimes.
thetimes.com/article/b259153…
Gavin Lumsden retweeted
Baillie Gifford European Growth Trust ranked # 6 out of 134 peers in Morningstar's Europe ex-UK Equity on 1yr Net Total Return. Check for other maturities
pickafund.com/compare-fund-t…
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The gain adds to BGEU’s strong rebound under new manager Joe Faraday. Shares in 5yr underperformer up 34% since his appointment on 1 April, helped by #BSP & banks he added to broaden the portfolio. Discount 10%.
Microsoft has dealt a blow to Nscale’s plans for a multibillion-dollar US listing after pulling out of its first British data centre in Loughton, Essex. telegraph.co.uk/business/202…
The scourge of UK trusts isn’t going away. (Wasn’t expecting him too.)
My favorite trade for ‘27 are deeply discounted investment trusts in the UK with real estate and PE holdings.
bloomberg.com/news/articles/…
The popular Vanguard LifeStrategy 80 fund is “mind-blowingly diversified” says Times’ Tempus, holding 6,400 stocks & 17,800 bonds though 2 World & US funds making up half its assets hold 20% in US tech giants Nvidia, Apple, Microsoft, Amazon & Alphabet
thetimes.com/article/bf0964c…