Eight months in, 2024 is already a record year for M&A (mergers and acquisitions) in the investment trust sector.Trust boards are increasingly focused on value for money and shareholder returns amid persistently wide discounts to NAV (net asset value) and with activists nosing around. A major trend underway is mergers between sub-scale trusts with similar remits to create funds large and liquid en

On the 5 August, the Japanese benchmark index Nikkei 225 plummeted 12.4% in its worst one-day performance since 1987, while other Asian markets such as Taiwan fell heavily.There were several factors at play which caused the massive sell-off, not only in Asian markets but globally. How have managers of Japanese funds reacted to the turmoil?Unsurprisingly, given they are effectively talking up their

There are several fund managers who run extremely concentrated portfolios with the aim of having meaningful stakes in companies allowing them to actively influence and support management.This strategy is broadly akin to that of a private equity investor putting money into an unlisted firm. The lack of diversification means this approach comes with a different risk profile to funds which spread the

Long-term investors in Japanese shares have endured several false dawns since the country's Nikkei 225 stock index peaked at above 38,900 points in 1989.At the time of writing, the Nikkei 225 sits at the 26,393 mark, about 15% off its autumn 2021 one-year peak of 30,670 and down 9.9% year-to-date.Yet this looks an exciting time to invest in Japan where shares are attractively valued relative to gl

The old adage is that you should never let a good crisis go to waste and this mantra seems to be being taken seriously by activist investors as we emerge from the worst of the pandemic.Several big UK companies have activists either circling them or they are already on the shareholder register making demands of management. In this article we look at eight different activist situations and give our

News of Japan's prime minister Shinzo Abe stepping down due to ill-health has shocked financial markets.In a flash indication for what it means for Japanese stocks, the country's benchmark Nikkei 225 index plunged 1.41% in afternoon trading on 28 August shortly before the news was confirmed following widespread speculation.Known for stimulating the country's growth with his aggressive economic pol

Although the Japanese economy and its corporates haven't escaped the effects of coronavirus, the number of COVID-19 cases has been relatively contained in Japan and the government has not had to resort to the extreme lockdown measures seen elsewhere. This likely explains why the Japanese stock market has been relatively resilient compared to others globally.Yes, the pandemic-driven postponement of

Since Tokyo's Nikkei 225 index peaked at 39,000 in 1990, investors have been well served by avoiding the Japanese stock market. Although it rallied strongly in 2016 and 2017, the benchmark is still down almost 50% from its highs making it the worst-performing major index by a wide margin.However, with the Nikkei now trading at just over 20,000 points, half its level of nearly 30 years ago, and the

Deep value investing involves buying bargain basement shares inthe hope they will eventually move back to their intrinsic value. It is a strategy that has forged the reputations of some of the world's greatest investors.Value investing can be highly volatile and takes a lot of patience; hence many fund managers shy away from it. However, current practitioners include Kevin Murphy and Nick Kirrage,