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Continued strong fundraising activity on AIM

Allenby Capital, whose CEO Nick Naylor spoke at ShareSoc's Investing Masterclass on Remuneration, have just issued their quarterly update which shows the way the AIM market continues to help companies requiring capital. AIM is playing an important role in these difficult Covid times, writes ShareSoc Director Cliff Weight. Key points in the report: AIM continued its strong fundraising performance in Q3 2020. By the end of September, the total funds raised year to date of £4,085m had already surpassed the £3,997m raised ...

Preventing Fraud in Accounts – FRC Tightens Audit Rules

There have been repeated examples of the accounts of public companies being fraudulent in recent years. Wirecard was probably the latest and biggest example. I have seen examples of such misdeeds twice in my investment career in my own holdings although losses have been minimal in both cases, the last example being Patisserie (£95 million missing from their accounts). But I have avoided a lot of others where the losses to some investors have been enormous. There have simply been too ...

ShareSoc+UKSA make joint response to HM Treasury consultation ‘Regulatory Framework for Approval of Financial Promotions’

Peter Parry, ShareSoc member and former Policy Director at the UK Shareholders Association writes about the joint submission by the UK Shareholders Association and ShareSoc to the HM Treasury consultation ‘Regulatory Framework for Approval of Financial Promotions' Financial promotions – a case study in how not to delegate. The Consultation Another day and another consultation lands in the inbox. This one’s from HM Treasury - titled ‘Regulatory Framework for Approval of Financial Promotions’. Sounds boring? Maybe, but the issue under review is actually a ...

Market Musings

The stock market seems to be positively benign at present, if not almost somnambulant. While certain sections of the economy have gone to hell in a handcart, the enthusiasm for technology stocks has not abated. My very diversified portfolio is up today at the time of writing by 0.4% helped by good news from Dotdigital (DOTD) today and a sudden enthusiasm for GB Group (GBG). Optimism about a more general recovery in the economy seems to be still prevalent. It’s probably a ...

Investment Trust Discounts, What To Do About Them and SEC Example

In this article, I argue that discounts are bad for those invested in a trust, and the Board of the investment trust should look to reduce any discount. However, for those thinking of investing in the trust the discount might be an opportunity. The question is, how real is that opportunity or is it just a 'value trap'? We look at why discounts can arise and the measures that can be taken to eliminate them or even move the trust to a ...