Temple Bar re-admitted to FTSE 250 after shares soar off value rally
Performance of the investment trust has vastly improved since RWC takeover
Temple Bar has won back its place in the FTSE 250 after its shares rebounded sharply thanks to the rotation into value stocks.
The value-orientated investment trust was dropped from the index last September after the coronavirus crisis wiped 50% off the value of its share price, leaving it with a market cap of £462.1m.
Months before that the investment company was rocked by news longstanding manager Alastair Mundy would be stepping down. RWC duo Nick Purves (pictured) and Ian Lance replaced Mundy in October.
Ninety One to merge pair of Alastair Mundy’s shrinking funds
UK Total Return has been combined with UK Special Situations after losing over 80% of its assets in 2020
Ninety One has merged a pair of Alastair Mundy’s former funds after both saw assets shrivel during the pandemic.
An announcement posted to the fund group’s website confirmed it had combined the Ninety One UK Total Return fund with the UK Special Situations fund at the end of February.
Explaining its decision Ninety One said UK Total Return’s size “has declined significantly to the point that it is no longer economically viable and is not expected to grow.”