Morgan Stanley the latest US bank to flee climate coalition ahead of Trump return January 3, 2025 A slew of US banks have exited a climate coalition in the days leading up to Donald Trump’s presidential inauguration. Yesterday evening, Morgan Stanley became the latest US bank to depart from the Net Zero Banking Alliance, as pressure increasingly mounted on financial institutions from Republican lawmakers. Despite leaving the alliance, Morgan Stanley said in [...]
Why one US hedge fund is taking aim at the UK’s biggest investment trusts December 19, 2024 A shake up could be coming for the UK’s investment trust industry after US hedge fund Saba Capital launched a campaign to topple the boards of seven different companies yesterday. “Like the Ghost of Christmas Past, Saba has descended upon the investment trust industry, urging self-reflection,” said Shavar Halberstadt, analyst at Winterflood. There have been [...]
US hedge fund launches activist offensive against UK investment trusts December 18, 2024 US hedge fund manager Saba Capital has launched a campaign to oust the boards of seven top UK investment trusts today after amassing stakes in the firms over the past year. In an open letter to the companies today, the activist investor said it was triggering shareholder votes to “elect new directors with a concrete [...]
Why asset managers are leaving climate groups November 25, 2024 The UK asset management industry was hit last week with another significant departure from climate-focused organisations, as Baillie Gifford dropped its membership of two ESG groups. The Scottish asset manager left both the Climate Action 100+ group and Net Zero Asset Managers initiative after it became embroiled in a months-long scandal over its sponsorship of [...]
The only FTSE 100 stock Scottish Mortgage is buying November 22, 2024 Scottish Mortgage has always had an international focus, and there's only one FTSE 100 stock the investment trust wants to buy: Itself.
Baillie Gifford says shareholders can ditch China trust if underperformance persists November 13, 2024 Baillie Gifford has pledged to allow investors to refund their money from its £133m China-focused growth trust if it continues to underperform the wider market over the next four years. The trust’s share price has dropped by more than 33 per cent in the last five years, compared to a drop of just nine per [...]
Rightmove still in play after REA walks away, analysts say October 1, 2024 Rightmove may have seen off Murdoch-owned REA’s unsolicited bids for the company, but the saga is likely to set more would-be bidders on the property platform’s tail, analysts have said. Its share price fell about seven per cent at the start of this week on news that Australian property firm REA had walked away from [...]
Baillie Gifford US Growth: Investor patience ‘will wear thin’ over underperformance August 22, 2024 The £643m Baillie Gifford US Growth trust is at risk of investor patience wearing thin over its failure to keep up with the strength of US markets, analysts have warned. In the trust’s annual result, it revealed that its underlying assets grew by only 16.2 per cent throughout the year, compared to a 24.8 per [...]
The Capitalist: Why has Baillie Gifford’s support for Edinburgh Fringe not bothered Nish Kumar? August 15, 2024 Edinburgh Fringe's Baillie Gifford backing goes unnoticed, the OWO battles PR woes and HSBC turns queasy: catch up on the latest City gossip in this week's edition of The Capitalist.
FTSE 100 funds bled £2bn in June, but who is losing out? July 22, 2024 UK large cap funds, which invest in FTSE 100 companies, saw investors pull over £2bn from them during June, as losses began to concentrate in a select few asset managers.