If you’d invested in: Equiniti and National Grid

If only...

Equiniti (LSE: EQN) is an outsourcing business focused on financial and administrative services such as share registration, pension administration and risk-management software. The company floated two years ago and is now a constituent of the FTSE 250 with a market value of around £1.1bn. Last month Equiniti completed a $227m acquisition of Wells Fargo's share registration and services business. The deal, partially funded by a £122m rights issue, givesthe company the chance to break into the US, where the volume of shares issues is greater.

Be glad you didn't buy

National Grid (LSE: NG) is a multinational electricity and gas utility business headquartered in Warwick. The firm's shares spiked in May last year as it reported adjusted pre-tax profits of £4.7bn in the year to 31 March, a 14% increase from the year before and ahead of analysts' expectations. National Grid also announced that it had invested a record £4.5bn in the UK's gas and electricity networks. Despite this, the firm's share price has collapsed by 23% over the past six months due to rising political risk and uncertainty over the regulatory regime.

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