Take on Trusts – September 2024

Take on Trusts – September 2024

In September, the investment companies team updated investors on abrdn Asian Income Fund (AAIF), which has high-quality Asian exposure with rising dividends, and Utilico Emerging Markets Trust (UEM) as, although the trust’s investee companies are performing well, this is not being reflected in the market. Molten Ventures (GROW) has surpassed its £100m realisation target for FY25 (ending March 2025) with exits from Perkbox, Endomag, Graphcore and M-Files, totalling £124m in exit proceeds. The combining of Witan Investment Trust (WTAN) and Alliance Trust (ATST), expected to complete in early October, holds several potential benefits for the shareholders of WTAN, ATST and the new Alliance Witan trust. Gresham House Energy Storage Fund’s (GRID’s) recent trading update foresees a ‘strong earnings recovery in 2025’ due to rising contractual revenues and the completion of its 2024 construction pipeline. GRID will announce at its November capital markets day a three-year plan to further increase revenues and reduce earnings volatility. Until next time, the investment companies team.


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