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

'Quality investing' is the style pursued by the world's most famous investor Warren Buffett and Terry Smith, arguably the best-known British fund manager who runs the five-star Morningstar-rated Fundsmith Equity (B41YBW7) and consistently favours quality firms. Quality investing has generated strong long-run returns for its practitioners, including Buffett, but how do the leading fund managers off

Interest rates are expected to stay higher for longer to combat the sticky inflation which remains a threat to investors? hard-earned wealth and purchasing power. During periods of high inflation, it is crucial to invest in companies that possess pricing power, because these firms can pass on increased costs to customers, enabling them to maintain profit margins and generate the robust cash flows

Most of us will be aware of the need to plan for our retirement, however far or otherwise we might have got with doing so. After all, when we stop working we all still want to enjoy a decent quality of life. In this article we will explore how much money you will need and the level of pension pot required to achieve it as well as providing some investment ideas for people at the start of the proce

There is no question the dominant theme in stock markets last year was AI (artificial intelligence), in particular generative AI.In an interview with Time magazine last June, Sam Altman ? the former chief executive of OpenAI, whose ChatGPT product has been at the forefront of the AI trend ? said he believes the technology will ?transform the way people work and the way people learn. It?s going to

A big increase in the average takeover premium in 2023 highlights how parts of the UK stock market continue to be undervalued. The average bid premium for UK stocks in 2023 was 51% against 37% in 2022 and 43% in 2021, according to analysis by AJ Bell.Most London-listed takeovers last year involved small-cap firms. Buyers were a mixture of private equity firms or industry players looking to buy riv

In this third part of our investor survey, we asked some of the UK?s leading fund managers which sectors or stocks they thought were the most promising for 2024.The responses were as varied as they were thought-provoking, with only a couple of managers singling out technology stocks.As before we would like to thank all those who took part for sharing their views, and we hope readers enjoy them. WH

Shares gain on activist board appointmentEminence Capital has criticised the boardUrging Entain to sell MGM Resorts joint ventureShares in Ladbrokes and Coral owner Entain (ENT) moved 2% higher on Wednesday to £10 after appointing Eminence Capital founder Jerry Sandler to its board as a non-independent director.Sandler?s appointment will also see him become a member of Entain?s People and Governa

It has been a difficult year for investment trusts as a whole. Discounts have widened across various sectors and there have been a series of failed continuation votes and mergers. Yet some trusts have still done extremely well - relative both to the wider market and their peer group. In this article we shine a light on the biggest outperformers in some of the Association of Investment Companies' m

Some largely dovish words from US monetary policymakers supported equities, giving stocks in New York a decent start and sending shares in Europe to session highs before the close, though the dollar suffered.The pound edged to only ever-so-slightly below the $1.27 mark, while the euro topped $1.10.The comments from the Federal Reserve cemented the notion that the central bank has enacted its last

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

RELX (REL) £28.83Market cap: £53.9 billionShares in information provider and data analytics specialist RELX (REL) rarely look cheap and today is no exception. However, this is a really excellent business, whose track record stands up over the long term and which is well positioned to adapt to and benefit from developments like the growth of AI (artificial intelligence).The stock has enjoyed a st

Value stocks have outperformed growth stocks by 12% since Pfizer (PFE:NYSE) announced the first effective Covid-19 vaccine on 9 November 2020. That's comparing the MSCI World Value index against the MSCI World Growth index.We have reason to believe the value investing style could soon deliver even bigger outperformance given the shift in the backdrop from cheap money to more normalised interest ra

According to data from the AIC, the average investment trust discount to net asset value has widened from 12.2% at the end of 2022 to 14.5% as of 8 September 2023, while sector averages have generally widened. The exception is private equity, which narrowed from 25.1% to 4.5%, skewed by 3i's (III) dramatic swing from discount to premium.While this presents an opportunity to buy into parts of the m

It can be hard to look past day-to-day cares and worries and give proper thought to achieving a financially comfortable retirement. However, if you want to enjoy a decent quality of life after you bring your career to a close then you must devote more attention to your pension.Investment trusts, held within a SIPP (self-invested personal pension), can be a useful vehicle to help you achieve your g

Latest statistics from the Association of Investment Companies' Global Equity Income sector shows one trust is by far the best 10-year share price total return performer thanks to impressive asset growth and strong investor appetite for its winning strategy.JPMorgan Global Growth & Income (JGGI) or 'JGGI' for short, comfortably tops the table over that period, having returned 254% over the past de

Stocks in London ended lower on Monday, feeling the pressure of an expected interest rate hike in the UK on Thursday, as well as disappointing growth expectations for China.The FTSE 100 index closed down 54.24 points, or 0.7% at 7,588.48 on Monday. The FTSE 250 ended down 176.60 points, or 0.9%, at 18,854.29. The AIM All-Share closed down 2.48 points, or 0.3%, at 790.11.The Cboe UK 100 ended down

Vodafone's confirmation that it will merge its UK telecommunications business with Three UK gave an additional boost to the FTSE 100 index at midday on Wednesday, with market participants also increasingly confident of a pause in US interest rate hikes.The large-cap index was up 34.84 points, or 0.5%, at 7,629.64. The FTSE 250 was up 7.67 points at 19,196.17. The AIM All-Share was down 1.18 points

Entain shares drop 10% after £600 million equity raiseSTS acquisition is Poland's number one sports betting companyFurther activist stake building in 888 HoldingsShares in Ladbrokes owner Entain (ENT) sank to the bottom of the FTSE100 leaderboard on Wednesday, falling 10% to £11.86 after placing roughly £600 million of new equity with institution investors at a 7% discount to part finance the

Equity markets were trading more confidently early Wednesday in Europe, amid growing confidence that the US central bank will pause its current cycle of interest rate hikes.Data showing renewed growth in UK economy and a promise of higher returns by key dividend payer Shell were contributing to the positive mood in London.The FTSE 100 index opened up 10.82 points, or 0.1%, at 7,605.60. The FTSE 25