Gavin Lumsden

Mostly early morning news & views on investment companies, funds & markets by Gavin Lumsden, head of news @QuotedData. Formerly @Citywire & @thetimes.

[Centre Ground Finder @citysmugger]

@FundFanatic Wells Fargo have always been the most likely suitor for Barclays

But even then, a full acquisition will be insanely hard to execute and achieve. Barc trades at a discount sure, but it's not a basket case like some other Bulges (tut tut UBS, Credit Suisse etc)

[pickafund @pickafund]

WS Blue Whale Growth Fund very strong vs 222 peers in Global Large-Cap Growth Equity category
https://t.co/pK2FkP1C7P
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[surface4air @Surface4air]

@FundFanatic It is just reverting to pre election levels having risen circa 20% in October!

[Gavin Lumsden @FundFanatic]

CNBC says the iShares MSCI Brazil ETF (EWZ) plunged nearly 20% in overnight trading following President Lula’s surprise win of a fourth term in office. Look out for BlackRock Latin American #BRLA later as the investment trust has 64% in Brazil.

[Gavin Lumsden @FundFanatic]

NatWest is banker to a 2nd alleged “mini bond” scam, says The Times.
Already spotlighted for its relationship with 79th Group, which collapsed last year, the bank is also exposed to Hunter Jones, a group the FCA says operates a Ponzi scheme.

https://t.co/WJFcX9SBgp

[Gavin Lumsden @FundFanatic]

Top European luxury groups have shed about €250bn of market value this year as spending by Chinese consumers wilts. @ft notes that results from LVMH, Hermes, and Gucci owner Kering this month all missed market expectations.

[Financial Times @FT]

Luxury groups’ value drops by €250bn as Chinese consumer demand fades https://t.co/W9dBDHiLZ6

[Gavin Lumsden @FundFanatic]

Deutsche Bank chief UK economist Sanjay Raja says market’s forecast of 4 interest rate rises are “baked-in risk premia”. Excluding those, “there is only really 50bps of hikes pencilled in,” taking BoE base to 4.25% by Feb. Other economists @guardian agree. https://t.co/jPG2NvMBLM

[Gavin Lumsden @FundFanatic]

@investor_shy @TheSecretAcct @boazweinstein Great performers? Saba’s UKIT has had a decent start since March +11.5% but the #BRW and #SABA US funds are both on 17% discounts after a much more mixed performance in recent years.

[Gavin Lumsden @FundFanatic]

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.
https://t.co/Uyber8gnQw

[Gavin Lumsden @FundFanatic]

BlackRock Smaller Companies #BRSC manager Roland Arnold complained that his top 10 holdings all increased earnings forecasts but half underperformed market & half “de-rated” as £632m trust reported a flat half yr to 31 August vs 4.3% gain in its benchmark. https://t.co/QtjhPzkVvj

[Gavin Lumsden @FundFanatic]

Marwyn Value Investors has released plans for a 2026 realisation class. James Carthew, a shareholder whose Citywire article on #MVI I posted here, isn’t keen. “I couldn't recommend ticking the realisation class box given my experience,” he said on LinkedIn
https://t.co/9GSVmqxaUk

[Gavin Lumsden @FundFanatic]

Sunday Times says chancellor John Healey will unveil billions of £s of defence spending in Wednesday’s budget. It also reports Airbus’ warning of big job losses in Portsmouth & Stevenage if MoD moves UK Skynet satellite system contract to Lockheed Martin.

https://t.co/qdW3C95qpD

[Gavin Lumsden @FundFanatic]

Barclays #BARC is on bid alert, says the Daily Mail, after its share price fell by a quarter in the past two months valuing the bank at £55bn, a 40% discount to European peers and below its net asset or book value.
https://t.co/8T32AI6XB9

[Gavin Lumsden @FundFanatic]

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.
https://t.co/chCwsaj0qx

[Gavin Lumsden @FundFanatic]

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.

https://t.co/whVtXrHq4E

[Nick Britton @NickBritton_]

An exceptional turnout of 82% endorsing the current #USA board and rejecting Saba's proposed directors. https://t.co/n9IjHxjqa8 @AICPRESS

[Gavin Lumsden @FundFanatic]

Saba resolutions to appoint its 3 nominees defeated 47.2% to 52.8%.

[Gavin Lumsden @FundFanatic]

BREAKING NEWS: No need for glum #USA faces. Saba has been defeated!

[Gavin Lumsden @FundFanatic]

BREAKING NEWS: No need for glum #USA faces. Saba has been defeated!

[Gavin Lumsden @FundFanatic]

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!

[Gavin Lumsden @FundFanatic]

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!

[Gavin Lumsden @FundFanatic]

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. https://t.co/gp9ICEs7Gu