Value creation for CHP’s shareholders is expected from the ability of the company to guide each of its technology based investments to commercialisation, provision of fee paying corporate services, and staged funding as milestones are reached.

The company will invest in a portfolio of quality global growth equities, excluding Australia. The portfolio will be concentrated, typically comprising 20 to 40 stocks and will be largely invested at all times with a maximum cash weighting of 7% of the portfolio once the capital raised.

Our comprehensive coverage of the LIC Sector including latest developments and performance summary.

IIR is upgrading its rating on ARG from “Recommended Plus” to “Highly Recommended”. IIR has always held ARG in high regard, but over the years our conviction has been cemented that ARG is truly best-of-breed amongst in the listed investment company sector.

We retain our concerns about the two manager arrangement. We suspended our rating on 8 December. We outline our concerns in the report attached more fully.