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A shocking failure to communicate?

The views expressed in this article are those of its author and not necessarily those of ShareSoc An investment trust that I invest in, JP Morgan Global Growth and Income (JGGI) held an important general meeting today. The purpose of the meeting was to approve its takeover of another investment trust, The Scottish Investment Trust (SCIN). I was shocked to read the RNS announcing the results of the general meeting issued this evening. Not shocked or surprised that the resolutions were overwhelmingly passed but ...

BHP and Woodside Energy Announcements

The views expressed in this article are those of its author and not necessarily those of ShareSoc There were announcements this morning (30/8/2022) from BHP Group (BHP) and Woodside Energy (WDS). Many BHP shareholders will also hold Woodside following the merger of the BHP oil/gas operations into Woodside. I continue to hold both having decided that now was not the time to exit a major gas producer. Woodside announced half-year results and their Underlying Net Profit After Tax was up 414% on the ...

In Memoriam: Steve Holdsworth

It was with great sadness that we learnt of the passing of Steve Holdsworth. Friends of Steve cannot but have been infected by his bubbly enthusiasm for all the activities that he undertook. He was generous with his time and always helped when asked to do so. It was a real pleasure to share time with him at the many investor events that he loved to attend. It was really tough for Steve when Covid curtailed those events and he wasn’t able ...

Investment Trust fees – should they be based on market cap or NAV?

The views expressed in this article are those of its author and not necessarily those of ShareSoc. Should Investment Trusts (including VCTs)  base their fees on market cap and not Net Asset Value? In the case of of Chrysalis Investments (CHRY), the 58% discount to NAV means the 0.77% fees as a % of NAV are in excess of 1.5% of market cap, which in my opinion is egregious:   A story in Investment Week "Chrysalis managers stand by unlisted holdings" https://www.investmentweek.co.uk/4055056/ also highlighted the ...

Transparency Task Force Attacks FCA and Sophisticated Investor/HNWI Status

This article represents the views of its author and not necessarily those of ShareSoc. Following on from the BBC Panorama programme on the Blackmore Bond scandal the Transparency Task Force have launched an attack on the competence of the Financial Conduct Authority – see https://www.transparencytaskforce.org/letters-to-mps-about-blackmore-bond/. It includes a letter you can send to your Member of Parliament asking for some reform. I agree with most of their recommendations on how matters can be improved. One issue I would also raise is that the Panorama ...