Mostly early morning news & views on investment companies, funds & markets by Gavin Lumsden, head of news @QuotedData. Formerly @Citywire & @thetimes.
London
Joined September 2013
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British Land #BLND halts plans for a second phase of its Canada Water housing project in east London after slow sales of the flats it had built and a sharp rise in labour, materials and regulatory costs.
thetimes.com/article/e44d3fc…
Canaccord investment bank will launch Quest Global Equity Cashflow Compounder Ucits ETF on Monday. The exchange traded fund will use the Quest analysis tool developed in the 90s when fund manager Terry Smith ran Collins Stewart, later bought by Canaccord.
thetimes.com/article/0dbbc37…
Baillie Gifford urged the Financial Conduct Authority to move faster on introducing new reforms to protect investment trusts ‘from opportunism that is not in the interest of shareholders as a whole’ after its #USA trust survived a 3rd Saba bid for control.
thisismoney.co.uk/money/mark…
Gavin Lumsden retweeted
An exceptional turnout of 82% endorsing the current #USA board and rejecting Saba's proposed directors. investegate.co.uk/announceme… @AICPRESS
BREAKING NEWS: No need for glum #USA faces. Saba has been defeated!
The Baillie Gifford US Growth AGM is over with the result of the Saba vote due later after the remaining votes are counted. The mood of the board and advisers was serious / glum so we shall see. Saba UK MD James Waterlow told me “we may be here next year”, which is ambiguous!
HarbourVest Global Private Equity #HVPE launched its $400m (£298m) tender offer alongside half year results showing modest 2.4% gain as conditions in its sector remained challenging. SpaceX is its third biggest holding. quoteddata.com/2026/10/harbo…
FCA explains its decision to close its inquiry into the Home REIT scandal. A spokesperson for the regulator told Citywire: ‘We have carefully considered the case and believe the best way forward is to support the SFO’s ongoing investigation.’ citywire.com/investment-trus…
DIY investor broker AJ Bell reported a 24% rise in customer numbers to 796,000 as it benefited from an increased marketing spend, with its assets under management growing by 22% to a record £126bn.
thetimes.com/article/40c4f5f…
More than $1tn (£746bn) was wiped off US tech stocks after the boss of Nvidia warned of an AI funding crunch and Meta spooked investors with its spending plans. The Nasdaq 100 index slid 3% while the S&P fell 1.5% on fears over the cost of the AI boom.
telegraph.co.uk/business/202…
OpenAI cut its valuation target for its latest funding round after facing resistance on a $1.4tn price tag, as it pushes to raise $30bn before going public next year says @FT
OpenAI trims valuation target to $1.25tn after pitching higher price ft.trib.al/jPYrZWg
A trading update from Duke Capital #DUKE failed to revive shares in the high-yielding AIM-listed business lender after their 18% fall on Tuesday when an @ADVFN poster highlighted the annual losses reported by one of its borrowers Intec Business Holdings. quoteddata.com/2026/10/duke-…
“If we lose public trust, or don’t establish public trust, then that is going to make the financial position look more precarious,” said Bank of England governor Andrew Bailey on the level of AI borrowing & debate on the level of human control. telegraph.co.uk/business/202…
Gavin Lumsden retweeted
#RMMC is my fourth largest investment trust holding and has been a key component of my YTD performance; notable that the board has opted for lower costs, marketing muscle and star managers over manager continuity - here's hoping the trusts's strong 2026 run (currently fourth best performer in the AIC UK smaller cos sector) is maintained.
Home REIT - the FCA’s job may be done but hopefully not the fraud squad.
Home REIT #HOME says the Financial Conduct Authority has closed its investigation and intends to take no further action against the company that remains the subject of a Serious Fraud Office probe. quoteddata.com/2026/10/home-…
No offence to former Jupiter-bound #RMMC managers George Ensor & Mayan Uthayakumar, but the £82m UK Micro-cap fund has got a cracking deal with Liontrust #LIO, securing star managers Anthony Cross & Hugh Sergeant for a third to half of their normal annual management fee.
River UK Micro Cap #RMMC has reappointed Liontrust as investment manager after securing the services of two of its best-known fund managers, Anthony Cross and Hugh Sergeant, and slashing the management fee from 0.75% to 0.35%. quoteddata.com/2026/10/river…
Cornish Metals #CRNMF got £11.2m investment from commodities giant Glencore as AIM-listed South Crofty tin mine owner sought to raise £135m. Existing backers inc National Wealth Fund & Vision Blue Resources, a vehicle of ex-Xstrata boss Sir Mick Davis.
thetimes.com/article/5514c14…
Investors bet on UK interest rates rising to 4% next month after ONS data shows a surprise fall in unemployment rate to 4.7% & uptick in private sector pay growth to 3%. Investec economist Ellie Henderson said a rise could be framed as “risk management”.
thetimes.com/article/1ed79a9…
“There's no real precedent for how a public company like Tesla gets priced in this," said investment analyst Dan Sheehan from Telos Wealth Advisors on Elon Musk’s suggestion of a multi-trillion dollar merger with SpaceX. bbc.co.uk/news/articles/cr93…
