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...The trust has delivered annualised returns of 14.1 per cent over the past decade. It is an investor across the private equity spectrum, from venture capital to large buyout groups....
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...The discounts have attracted activists such as hedge fund Elliott Management which are pushing trusts to return capital to investors....
...More likely, he will restrict new capital to investment banking, redirecting any surplus to shareholder returns and more less-capital-hungry lending businesses....
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...The basic trust is destroyed.”...
...“It is about trust,” said one veteran energy banker. “Investors do not trust Shell and BP to do deals, they want to see consistent returns.”...
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...The company also said it would invest 1bn Kenyan shillings (€7mn) into a new community welfare trust. Last year, Browns offered a similar structure when it bought Finlays’ estates business in Kenya....
...Trust me. Lawyers charge too much. I used to do it. This is good stuff, but it’s not what we were promised by Cifu. Far from it. We were spoofed....
...Charles Schwab, Invesco and Manulife are among the money managers that have announced job cuts and restructurings in recent months....
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...They stand at around one-third for private equity trusts and around half for venture capital funds. Cynics suspect net asset values should be much lower than stated....
...This year’s programme has over 200 sessions, with a foggy theme of “rebuilding trust”....
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