From âunlovedâ to âfavorite,â Britainâs stock market rides a wave.
Despite strict lockdowns and Brexit trade disruptions, investors have turned to Britainâs stock market in the first weeks of 2021.
The skyline of Londonâs financial district last week. After years of shunning British stocks, investors are having a change of heart. Credit.Toby Melville/Reuters
Jan. 21, 2021
The start of 2021 has been rocky for Britain. Its exit from the European Union unleashed a colossal amount of red tape that has left some industries desperate for help, and the country is under yet another lockdown because of a fast-spreading strain of the coronavirus.
Given the news towards the end of Q4 2020 of a number of successful COVID-19 vaccine discoveries, followed by expectations of an immediate rollout of a vaccination programme, and probable clarity around Brexit negotiations, we got to work quickly in early December to invest. Our belief that the small and mid-cap segment of the UK public equity market offers investment potential was corroborated within the first two weeks of SBO s launch when one of our holdings was bid for - a first for the portfolio. Calisen, a provider of energy meters and metering systems, received an offer from Coyote Bidco (a consortium consisting of investors including BlackRock Alternatives Management and Mubadala Investment Company) that was c.26% above the previous day s closing share price. Calisen s directors and KKR owned c.73% of the company and voted in favour of the deal; as such we believed limited acceptance would be required from the remaining shareholders to obtain
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29 December 2020 | 08:56am
StockMarketWire.com - Schroder British Opportunities Trust said it had invested into Graphcore, a machine intelligence semiconductor business, as part of a $222 million Series E funding round alongside Ontario Teachers Pension Plan, Fidelity International and existing Graphcore investors.
Bristol-based Graphcore was founded in 2016 and had developed the Intelligence Processing Unit, a new type of microprocessor specifically designed from the ground up to meet the needs of current and next-generation artificial intelligence applications. The investment from this funding round will be used to support the company s continued global expansion and to further accelerate future IPU silicon, systems and software development, the company said.