Former Hipgnosis duo set to float trust on London Stock Exchange Investing Achilles Investment Company is set to start trading on the London Stock Exchange tomorrow after raising £54m to make an activist push against struggling investment trusts. The trust, run by City veterans Christopher Mills and Robert Naylor at Harwood Capital, would be the first investment trust float on UK markets since 2023. Naylor and Mills [...]
PRS REIT reveals ‘excellent’ results as strategic review looms Investing PRS REIT has revealed a set of strong results as the trust gears up for a strategic review following a shareholder row. The real estate investment trust reported an 11 per cent uplift in the value of its underlying assets, as rental income on its private housing portfolio surged 12 per cent on a like-for-like [...]
The best and worst performing funds in August 2024 Investing Funds focusing on North American smaller companies were the worst performing in the UK last month, as a weakening dollar and fears over a US recession shook the market. North American Smaller Companies funds fell by 3.3 per cent in August, followed by funds focusing on China (-2.9 per cent), commodities (-2.3 per cent) and [...]
PRS REIT attempts to negotiate with rogue shareholders September 2, 2024 Embattled PRS REIT has promised to negotiate with the group threatening to take control of its business. Last week, the investment trust faced calls from a group of investors, including Waverton Investment Management and CCLA Investment Management, to replace chair Stephen Smith and non-executive director Steffan Francis and adjust the trust’s strategy. The group controls [...]
PRS REIT faces investor rebellion to topple chair August 29, 2024 Investment trust PRS REIT is facing a significant shareholder rebellion, which is attempting to oust its chair and change the direction of the property investor. Investors including Waverton Investment Management and CCLA Investment Management, representing 17.3 per cent of shareholders, have requested an extraordinary general meeting to vote on a slew of measures. These include [...]
PRS: Strong growth at build-to-rent specialist July 18, 2024 PRS's 5,396 completed homes across the fourth quarter had an estimated rental value (ERV) of £65.1m, as of 30 June.
Build-to-rent giant PRS records double-digit profit growth as home shortage boosts rents March 20, 2024 Overall, the group reported adjusted earnings of £18.7m, up 11 per cent and a profit before tax of £30.3m, up 106 per cent year-on-year.