Investment Companies Roundup – June 2020
Performance – The ongoing impact of stimulus and the easing in lockdowns reinforced the rally over May. Cyclical sectors that had been battered, particularly energy, catapulted back from historic lows. Adoption of many of the ‘disruptive’ technologies Augmentum Fintech invests in, could speed-up as a result of the pandemic. Golden Prospect Precious Metals had another strong month, with increasing demand for gold
Discounts/premiums – Somewhat peculiarly, North American Income’s discount widened to a post-pandemic period peak over May, before narrowing again. The fund’s dividend is fully covered and US equity income funds have not been hit to the same extent, as UK equivalents, by companies halting distributions
Money in and out – The Renewables Infrastructure Group’s fundraise exceeded expectations, raking in £20m more than its original target
Major news stories – Merian Chrysalis has been coping well through its tech-enabled disrupter focus
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