- An active strategy looking to navigate high valuations for quality shares
- Is it time to focus on medium to smaller sized Japanese stocks?
The recent stock market gyrations have given us a taste of what can happen when popular narratives hit trouble. Active strategies represent having a hand on the tiller in choppy waters and taking an approach with different concentration risks to index benchmarks. This can pay off handsomely, but periodically. Timing when to back a manager’s investing philosophy is hard and can be an act of faith.
The investment trust sector won an important first round victory when Herald Investment Trust (HIT) shareholders voted against aggressive proposals by activist investor Saba Capital Management. Pitched as ostensibly designed to improve performance and outcomes for shareholders, the US investor is certainly not acting out of altruism towards their smaller retail counterparts with its proposals to oust boards and drive wind-ups up the agenda at general meetings.
