Weekly Gainers

JPMorgan Emerging Europe, Middle East & Africa (JEMA) comes from nowhere to take top spot on Winterflood’s list of highest monthly movers in London’s investment company space and it seems it’s all down to one phone call. Schiehallion (MNTN), another new entry while Golden Prospect Precious Metals (GPM), BBGI Global Infrastructure (BBGI) and Tritax Big Box (BBOX) all retain their top 5 places.

By Frank Buhagiar

The Top Five

New leader at the top of Winterflood’s list of highest monthly movers in the investment company space – JPMorgan Emerging Europe, Middle East & Africa Securities (JEMA). Shares are up +30.3% on the month with the majority of the gains made on 13 February 2025. No news out from the emerging markets investor but can’t be a coincidence that the share price added +18.5% on the day it was announced that President Trump had had a long chat on the phone with his Russian counterpart. Market thinking an end to the Russian/Ukraine conflict could be in sight which raises the prospect that there may well be some value in the trust’s frozen Russian assets after all.

Golden Prospect Precious Metals (GPM) is in second – shares are up +24.7%, an increase on the previous +22.2% gain. Still no material news out from the fund so put the strong share price down to the strong gold price. According to Reuters, gold hit a record high of US$2,942.7 on Tuesday 11 February. Just a hop and skip to US$3,000 from there.

BBGI Global Infrastructure (BBGI) edges up into third after seeing its monthly share price gain increase to +19.4% from +16.1%. Shares still basking in the afterglow of the 6 February announcement that BBGI has received, and is recommending, a 147.5p per share cash offer from a vehicle indirectly controlled by British Columbia Investment Management Corporation. Shares closed at 143p, so market not expecting a rival bid to emerge.

The Schiehallion Fund (MNTN), a new entry in fourth courtesy of a +15.9% share price gain on the month. Only news out from the growth capital investor this past week – more share buybacks. In all the fund bought back 500,000 of its shares at 111.5c a pop. A look at the graph though shows the shares have been on an upwards trajectory ever since the US election. MNTN’s largest holding, none other than Trump ally Elon Musk’s Space X – 9.7% of total assets as at 31 December 2024.

Tritax Big Box (BBOX) retains fifth spot with a +15.6% monthly share price gain. That’s an improvement on the previous week’s +11.2%. Last week, we reported that the shares had responded well to the fund’s 31 January full-year trading update. This week the shares got a further boost after a positive write-up by The Times’ Tempus Column on 11 February – Tempus – Should you buy shares in Tritax Big Box Reit? Don’t be fooled by the question in the title. The article went on to conclude “Advice Buy. Why? Tritax is on the verge of long-term transformation”. By the end of the week, the shares were up a further +3.5%. The power of the press.