By Annabel Brodie-Smith
It’s a beautiful warm sunny spring day in Oxfordshire and I’m looking at frothy white blossom on my apple tree.
But we have critical issues to deal with. Please can you do something very important for us – please sign our government petition to change company law so all shareholders can vote.
The Saba chapter has really emphasised how hard it is for investors to vote on platforms. While the big platforms stepped up, many investors told us they hadn’t received the voting information, or their platform wouldn’t process their vote. Some platforms even had the cheek to charge wealth managers to vote.
It was heartening to see such a high voting turnout at the seven trusts targeted by Saba. Private investors stood up and supported their investment trust. But it took a phenomenal effort from boards, managers, the media and some platforms to make this happen – and we can’t leave this to chance.
That’s why we have asked the government to change company law so all platforms have to pass on voting rights to their investors. Currently, platforms can choose whether they pass on voting information, which means you might be denied a say in what happens to your company in the future.
So please do sign our petition. This issue about voting applies to all listed companies not just investment trusts. So it’s vital you join us in our campaign to ensure voting really is within the reach of all investors.
We have put together a web page and I have recorded a video to explain why this is important.
Don’t just take my word for it. Our investment expert Ian Cowie has written a thought-provoking personal article on why being able to vote is so important. He delves into his own experience as a shareholder of Edinburgh Worldwide, which was targeted by Saba, and explains why he wanted to continue to hold the trust. He particularly likes his exposure to SpaceX and its subsidiary Starlink which “might have the potential to eventually replace every internet services provider on this planet”. Ian urges readers to sign our petition and reminds us that shareholders of the seven trusts targeted by Saba demonstrated that “there is substantial interest in shareholder democracy”.
April was quite a month for markets and for me. The rollercoaster ride of plunges and hikes provoked by Trump’s tariffs has been hair-raising. But exactly a month on from ‘Liberation Day’ the average investment trust is actually in positive territory, returning 3%. Read our press release to find out which sectors and trusts have performed best. There are plenty of strong performances from trusts focused on private equity, Japan and property, while those investing in China, Asia and North America saw negative returns.
“April was quite a month for markets and for me. The rollercoaster ride of plunges and hikes provoked by Trump’s tariffs has been hair-raising. But exactly a month on from ‘Liberation Day’ the average investment trust is actually in positive territory, returning 3%.”
It’s four months since we launched our fantasy fund manager competition, so how are our journalists coping with the Trump pump and dump scenario? Some of the journalists’ returns might make you feel happier about your own portfolio’s performance! Yes these are long-term investments so we need to be patient but it’s always illuminating to see how others are getting on.
“It’s four months since we launched our fantasy fund manager competition, so how are our journalists coping with the Trump pump and dump scenario?”
If you are a shareholder of Personal Assets Trust or STS Global Income & Growth Trust you might be interested in the Troy Asset Management Investment Trust seminar being held on 24 June at 10.15am. The seminar is being held at the Royal Institution of Great Britain, 21 Albemarle Street, London and you can register here.
Spring is my favourite time of the year but recently I have been spending too much time at the Oxford Eye Hospital. Apparently, my right eye is not working properly and I have the choice of either a jaunty eye patch or a prism in my glasses to help me see. Make sure you get out and enjoy the beautiful blossom and bluebells while you can still see them…
We have my eldest son Alexander’s 18th birthday to celebrate this month and the good news is he has passed his driving test. After running a taxi service for so long, I’m very much looking forward to having a chauffeur instead!
“The Saba chapter has really emphasised how hard it is for investors to vote on platforms. That’s why we have asked the government to change company law so all platforms have to pass on voting rights to their investors.”
Annabel Brodie-SmithCommunications Director, AIC
