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

Record year for trust mergersCombination to create £353 million vehicleKartik Kumar to join PhoenixArtemis Alpha Trust (ATS) has agreed to be taken over by UK All Companies sector rival Aurora Investment Trust (ARR) as the record year for investment trust mergers continues.Sub-scale, underperforming funds are combining with larger rivals to remedy wide discounts to NAV (net asset value) and creat

Back in the summer of 2021, we suggested the Chinese government?s clampdown on technology companies and its deeper involvement in the private sector ? which it accused of having been ?hijacked by capital? ? risked causing an exodus of foreign investment. We also put forward a list of Asia-Pacific investment companies with low exposure to China, so investors could reduce their risk but still keep t

Two China trusts to mergeTwo Troy trusts also to mergeFocus on costs and liquidityWith investment trust shares in the doldrums and discounts to NAV (net asset value) at their widest level for some time, we have been predicting a wave of mergers among sub-scale funds.Expect 2024 to see more mergers of sub-scale investment trustsToday we had further confirmation that consolidation is the way forward

A big question facing growth-oriented investors is whether the popular investment style can regain its mojo and get back to winning ways in a world of high interest rates.Despite a strong recent rally which has seen the technology heavy Nasdaq Composite rise 14% over the last six months, growth stocks have struggled relative to value over the last three years.The arrival of Pfizer?s (PFE:NYSE) Cov

Last October, shares in Fidelity China Special Situations (FCSS) started to rally on hopes that a relaxation of Covid restrictions in China would help to lift the economy and benefit the companies in its portfolio. The shares went from circa 178p to 302p over the space of four months.Since then, nearly all those gains have faded away amid fears the China reopening story was weaker than previously

Shares in China-related investment trusts have fallen after a late 2022 rally amid fears the country's economic recovery is uneven. While first quarter GDP jumped by a better than expected 4.5%, there are concerns the pace of growth may now slow.Markets immediately priced in a stronger economic environment when the Chinese government indicated late last year it would relax Covid-related restrictio

China's abrupt Covid U-turn has created the best opportunity in years for Asia and emerging market equities to outperform developed markets on a sustainable basis. It is likely to be one of the select few major economies where growth could accelerate in 2023 as China, where equity market valuations remain undemanding, enjoys a reopening recovery like much of the rest of the world witnessed in 2022

Shares in Chinese and China-related stocks, including specialist UK-listed investment trusts, have risen for several days on market talk Beijing could end its zero-tolerance strategy on the Covid virus in early 2023.The official line is the government has no intention of changing course as 'previous practices have proved our prevention and control plans and strategic measures are completely correc

- Hong Kong market has best week since 2011- UK-listed China-focused trusts in high demand- Mining stocks top FTSE 100 gainersMarkets in Asia went into overdrive heading into the weekend thanks to a wave of positive news stories and talk that China could end its zero-Covid policy.Just a week after Hong Kong and Chinese stocks were hammered following the National Peoples' Congress in Beijing, the H

Holders of funds and trusts investing in China probably woke up on Monday wondering why their holdings had taken such a drubbing overnight.The sharp fall in mainland and Hong Kong-listed stocks was all the more incongruous given third quarter GDP figures, which had been delayed by a week, were actually ahead of expectations at 3.9% instead of 3.2% as forecast.The reason for the sell-off was market

The considerable amount of noise in the markets means investors may struggle to get a grip on the different factors which might influence share prices in the near-term.To help you better understand the key issues, we've rounded up six areas which could have a significant impact on markets for the rest of the year and into 2023.1. WHAT NEW PRIME MINISTER LIZ TRUSS MEANS FOR UK STOCKS AND STERLINGTh

While UK investors have been fretting over the hike in household energy prices on one hand and commentary coming out of the Jackson Hole meeting of central bank governors on the other, the authorities in China have been quietly helping support global shares by easing monetary and fiscal policy.Without any fanfare, the governor of the People's Bank of China has cut key lending rates, announced spec

Special situation funds should, in theory, be busy making new investments in the current market environment. Their strategy includes finding unloved stocks which could either bounce back thanks to corporate self-help measures or the market eventually spots hidden value within a business which then attracts more buyers for the shares.Given how so many stocks have slumped in value this year - many f

Rising interest rates since the turn of the year, runaway inflation and Russia's shocking invasion of Ukraine have shaken the investment kaleidoscope in 2022 and forced many investors to reposition portfolios for an increasingly uncertain world.This is reflected in developments in the investment trusts universe, which has thrown up some obvious and more surprising winners in the opening months of

Numerous investment trusts in recent years have asked shareholders permission to increase their exposure to companies which do not trade on a stock market, known as unquoted or unlisted.Primarily, this is because companies are staying private for longer and this change in investment policy allows investment trusts to capture more of the rapid growth and value generated during the earlier stage of

Exuberance towards China at the beginning of 2021 gave way to disappointment and pessimism as the year progressed. A lot of the bad news is now in the price and Chinese equities are starting to look attractive again, which means now is a good time to invest in Fidelity China Special Situations (FCSS).The £1.6 billion investment trust provides exposure to the most dynamic companies in the greater

In the end 2021 proved a rewarding year for stock markets as vaccines were rolled out and economies began to recover from the worst ravages of the pandemic. In the early part of the year, growth was shunned for value before bouncing back into fashion as the year progressed.On the whole, this was a volatile period, with investors contending with concerns over inflation and the rising interest rates

The sell-off in China looks to have gone too far. The MSCI China index has declined by 20% over the last three months. Investor sentiment in the region has been undermined by a wave of policy tightening and stringent regulation targeting sectors from property to technology.These fears have been compounded by concerns that Evergrande, the world's most indebted property firm will default, causing co

The private equity sector has been the standout performer this year, according to a new research report by broker Stifel. The study highlighted the best and worst performing investment trusts in a third quarter sector review, and the results show that investors have increasingly been drawn to private equity for net asset value (NAV) growth.UK small caps and UK real estate also performed well, whil