Finally some movement on a deep value investment I made in $SEIT.L (SDCL Efficiency Income Trust Plc) . The fund makes money but has been stubbornly stuck at way below asset value [this in simple terms means the entire value of the fund is worth less than its own assets it contains] despite an attractive dividend and solid earnings. I couldn't really work out a good reason for this, and it seems I was not the only one as an activist investor SABA has moved in and bought a stake that will be enough to influence the future of the company.
Activist investment funds are a niche kind of investment vehicle, whose main aims are to buy into a company that is not fulfilling potential for whatever reason, and use its leverage to influence changes. This in some ways can be a self fulfilling move, as just the news and (deliberate) hype of these funds moving in will attract more investors and move the price, as has happened today for SEIT.
Looking forward, it seems likely now that one way or the other, there should be a decent investment return in medium term, either the noise will drive up the price more towards the underlying asset value of the fund, or a split up or sell off will be forced on the fund to return value to investors.
As I always say, I don't get everything right and I don't expect to, but it's still satisfying when an investment goes the way you expect, for the reasons you expect.
News article explains more:
quoteddata.com/2025/09/activist-saba-takes-5-stake-in-sdcl-energy-efficiency/... Show More
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Fri Nov 07 2025 08:05:43 GMT+0000 (Coordinated Universal Time)
