Winterflood Research’s Post

Mergers of UK investment trusts make sense to build scale and efficiencies which should result in lower fees for investors. This is natural given the performance trends and shift to lower cost index-based products. One “benefit” that you rarely see mentioned during these announcements is that by combining, you can merge away the performance history of underperforming managers. While Alliance Trust has outperformed its benchmark on a 1,3 and 5 year basis on both a NAV and share price basis (including its use of leverage vs an unleveraged benchmark) as of May, Witan has underperformed over the same time periods. Any guess which will be the surviving performance history? Elliot Gulliver-Needham #indexinvesting

Following a comprehensive strategic review by its Board, Witan Investment Trust plc’s assets are to be rolled into Alliance Trust to form Alliance Witan in the UK’s largest ever investment trust merger 👉 https://lnkd.in/dnTxHcJK With net assets of around £5 billion, the two Boards believe the combination of Alliance and Witan will create an even more liquid and cost efficient one-stop shop for global equities, while Alliance Trust’s award-winning multi-manager investment strategy remains unchanged. "A combination of the two companies made a lot of sense and represents continuity for both sets of shareholders. Witan has a large pool of assets. And when combined with ours, the net asset value of the combined company will be in excess of £5 billion." — Dean Buckley, Alliance Trust

With record levels of mergers and buybacks, it's already been a busy year for investment trust corporate activity. Read our review of H1 2024 to find out more: https://lnkd.in/e62kspWX Annabel Brodie-Smith Nick Britton, CFA, MCSI Nick Gardner Vanessa Booth Richard Stone Juliet Webber Gordon Humphries Gay Collins Stephanie Coxon Alexander Denny Simon Elliott Francesca Ecsery Will Fraser-Allen Mickey Morrissey FCSI Cathy Pitt #investmenttrusts #investmentcompanies #investing

Private equity leaders are preparing for an uptick in mergers and buyouts as a reduction in interest rates looms. Read how firms are preparing to invest in the ‘pent up’ deal supply. https://lnkd.in/e2uCcjRu

The competitive forces shaping mergers in the superannuation industry aren’t necessarily focused on quality, but rather, on the blunt metric of scale. Whether that’s good for members or not is debatable, but what’s not in question is that complex and often protracted transactions – such as the merger of TelstraSuper and Equip Super recently announced – need to be managed adroitly to get the best out of them, for everyone concerned. #superannuation #merger #InvestmentMagazine https://lnkd.in/gEA2sqS6

Mergers and acquisitions (M&A) play a significant role in the growth and expansion of many businesses. When navigating the complex world of M&A transactions, cho... CHECK OUT THE WHOLE STORY AT: https://lnkd.in/gRRmCETJ

In Q1 2024, RIA M&A activity remained robust, reflecting the fast-paced nature of our industry. If you're contemplating partnership, we know experience matters! Over 8️⃣5️⃣ RIA firms have trusted Mercer Advisors as their partner of choice. Dive deeper into the current dynamics on WealthManagement.com 👇 #mergersandacquisitions #acquisition #merceradvisors #mergers #ria #wealthmanagement

Mergers and acquisitions (M&A) play a significant role in the growth and expansion of many businesses. When navigating the complex world of M&A transactions, choosing the right investment bank can ensure the deal’s succ...

America's private equity giants have invested $162 billion as they wait for a deal-making revival. Mergers and buyouts are expected to increase, and interest rates will go down. Executives are very optimistic about the future state of the market, and rightfully so. This would be an excellent time to prepare for any deal you plan on making. #PrivateEquity #PE #Investment #Finance

Witan Investment Trust plc shareholders overwhelmingly approve merger with Alliance Trust. Shareholders of the Witan Investment Trust plc (WTAN) have voted in favour of the combination with Alliance Trust. Check out Cristian Angeloni’'s latest article 👇 https://incm.pub/3Y7QDml #investment #wealthmanagement #assetmanagement #finance