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QuotedData’s weekly news show 24th May 2024

Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: • Marble Point Loan Financing (0:21)• Odyssean (4:37)• abrdn European Logistics Income (6:24)• NewRiver REIT / Capital & Regional (9:43)• Great Portland Estates (13:47) […]

QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition
QD view – Signals turn green for real estate

Real estate is a cyclical market where timing is everything, and signals are starting to flash that the sector is primed to stage a recovery. Market data, company activity and macroeconomic events appear to be aligning to suggest that now is the time to invest in real estate. After months in the doldrums as values […]

Marble Point Loan Financing receives new requisition to speed up liquidation

Marble Point Loan Financing (MPLF) is convening a second round of EGMs (for both its liquidating share class and ordinary share class) following the receipt of a new requisition notice from Freestone Advantage Partners III LP to once again consider its proposals for amending MPLS’s articles of incorporation to allow for a liquidating share opportunity […]

Marble Point Loan Financing : MPLF
HgCapital’s manager acquires AuditBoard

HgCapital Trust (HGT) has announced that its manager Hg has acquired AuditBoard, which it describes as a leading connected risk platform transforming audit, risk, compliance and ESG management, in a transaction that values AuditBoard at over US$3bn. HGT will invest approximately £87.2m in AuditBoard, with other institutional clients of Hg investing alongside HGT through the […]

130323 HGT logo
Scottish Mortgage reports on “challenging yet rewarding year”

Scottish Mortgage (SMT) has published its annual results for the year ended 31 March 2024. In what its chair, Justin Dowley, describes as a challenging yet rewarding year, SMT provided NAV and share price total returns of 11.5% and 32.5%, which it says compares to at 21.0% return from its FTSE All-World Benchmark. Dowley comments […]

Capital Gearing reports on “far from satisfactory” year

Capital Gearing (CGT) has published its annual results for the year ended 31 March 2024, during which it provided an NAV total of 1.8%, which its chairman, Jean Matterson describes as far from satisfactory when compared to the rise in the consumer price index (CPI) of 3.2%. The share price total return over the period […]

QuotedData’s morning briefing 24 May 2024 – JEMA

In QuotedData’s morning briefing 24 May 2024: JPMorgan Emerging EMEA Securities (JEMA) has announced that further to its announcement on 25 April 2024 that it has been named as a defendant to civil proceedings being brought by VTB in the Russian courts, which were commenced on 17 April 2024 (click here to see our coverage […]

a newspaper sticking out of a grey letterbox
Helical’s blueprint for growth after painful year

A compelling outlook for real estate has resulted in Helical’s board concluding its strategic review into the company with a three-year blueprint for growth. Led by chairman Richard Cotton, a comprehensive business review found that the company’s “exciting pipeline of committed developments, which due to the quality of the schemes and anticipated supply shortages, are well […]

Helical lets Kaleidoscope office to TikTok
Great Portland Estates launches £350m rights issues

London office developer Great Portland Estates (GPE) has launched a fully underwritten 3 for 5 Rights Issue to raise £350m (£336m net of expenses) through the issue of 152 million new shares at a price of 230 pence. The issue price represents a 44.5% discount to the closing price of 414.6 pence on 22 May […]

221116 GPE aldermanbury
NewRiver REIT weighing up bid for Capital & Regional

NewRiver REIT is weighing up a bid for shopping centre landlord Capital & Regional. In a stock market release this morning, Capital & Regional revealed that it was aware that its majority shareholder Growthpoint Properties (which holds 68.13% of the company’s issued share capital) had received a preliminary expression of interest from NewRiver REIT in […]

Picton Property reports earnings growth and dividend uplift

Picton Property has reported solid earnings growth in full year results that support a 5.7% uplift in its annual dividend. The company posted a 2% increase in EPRA earnings to 4p per share in the year to 31 March 2024, which covered its annual dividend of 3.5p – which has now been increased to 3.7p. […]

Larger Shires Income explores ways to strengthen revenue account

Over the 12 months ended 31 March 2024, Shires Income generated an NAV return of 5.1% and a share price return of -5.5% (as the discount widened to 13.3%), both behind the 8.4% return delivered by the company’s All-Share Index benchmark. The chairman suggests that “the performance for the year is in line with what […]

the kelpies
Massive buyback drives recovery in Scottish Mortgage share price

Over the 12 months ended 31 March 2024, Scottish Mortgage returned 11.5% in NAV terms and 32.5% in share price terms, driven by a narrowing discount. It says that these figures compare to a 21.0% return on the FTSE All-World Index. The main driver of the narrowing discount from 19.6% to 4.5% was the announcement […]

white text on a blue background overlaid with red curved lines
QuotedData’s morning briefing 23 May 2024 – BGLF, CRS, INOV, IPU

In QuotedData’s morning briefing 23 May 2024: Blackstone Loan Financing (BGLF) will hand back €23m to its shareholders by way of a compulsory partial redemption of up to 24,779,142 shares on 10 June 2024. On this basis, a holder of 10,000 shares will have 559 shares redeemed, and receive €518.86 in cash. Crystal Amber (CRS) […]

a green cup of something hot - tea or coffee? - sitting on an open bookon which is also resting what looks like a napkin 230406 morning
Odyssean plans tender offer

Odyssean Investment Trust (OIT) was launched on 1 May 2018. At the time, the board said it would offer shareholders the opportunity to cash in their investment at NAV (less costs) during the trust’s seventh year and every seventh year thereafter. The exact timing of the realisation is up to the board (in consultation with […]

odyssean investment trust logo
British Land posts robust results, with values stabilising

British Land has posted a robust set of annual results during one of the most turbulent periods, with EPRA net tangible assets (NTA) falling 4.4% to 562p in the year to 31 March 2024. The value of its portfolio was down 2.6% to £8,684m, and down just 0.2% in the second half of the year, […]

Outlook remains positive despite modest returns for HICL Infrastructure

HICL Infrastructure (HICL) has announced its annual results for the year ended 31 March 2023. The company delivered a total shareholder return of 1% for the year with an increasing discount rate offsetting steady earnings growth. Despite the middling returns, the company did highlight a number of positive updates for the year, noting the significant […]

Positive year despite increasing UK focus for STS Global Income & Growth Trust

STS Global Income & Growth Trust (STS) announced its annual report for the year ended 31 March 2024. The NAV total return for the year was +4.8%, and the share price total return was +6.1%, compared to a total return of +11.5% in the Lipper Global – Equity Global Income Index. This compares to a […]

view of the Bank junction in the City of London from Cheapside looking towards 1 Cornhill
QuotedData’s morning briefing 22 May 2024 – IHR, USF

In QuotedData’s morning briefing 22 May 2024: Impact Healthcare REIT (IHR) posted a 1.7% increase in NAV per share to 117.31p in the quarter to 31 March 2024. The value of its portfolio of care homes was up 1.5% to £660.8m, with contracted annual passing rent up 4% to £50.1m. Rent cover among its tenants […]

a pair of glasses sitting on the corner of a newspaper
Steady year for Caledonia not reflected in share price

Caledonia Investments (CLDN) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of 7.4% slightly behind the benchmark return of 8.4%, although it remains well ahead over three, five, and ten year periods.  Despite the solid NAV growth, the share price total return was -1.2%, leading […]

Solid performance from Gore Street Energy Storage belies discount 

Gore Street Energy Storage Fund (GSF) announced a trading update for the 12 months ended 31 March 2024. The announcement highlighted the ongoing revenue growth of the portfolio, which was up 5% over the period while EBITDA increased by 2%. The company also noted that it raised capital via both equity and debt, enabling continued […]

Gore Street Energy Storage Fund
Asia Dragon Trust announces strategic review

The Asia Dragon Trust (DGN) announced a strategic review. This follows the recent proposal to combine with Ashoka WhiteOak Emerging Markets (AWEM) which was announced on 7 May 2024. Background to the strategic review In July 2023, the company announced a proposed combination with abrdn New Dawn Investment Trust to create an enlarged company with […]

Assura enters £250m JV to invest in NHS infrastructure

Assura Group, the healthcare property investor, has entered a £250m joint venture with Universities Superannuation Scheme (USS) to invest in NHS infrastructure. The JV (which is split 80:20 in favour of USS – the principal pension scheme for universities and higher education institutions in the UK) will be seeded with an initial portfolio of seven […]

QuotedData’s morning briefing 21 May 2024 – SDP, HEFT

In QuotedData’s morning briefing 21 May 2024: Schroder AsiaPacific Fund (SDP) announced its interim report for the six months to 31 March 2024. Over the period, the company’s NAV per share total return was 5.7%, slightly ahead of the 5.3% total return from the benchmark. The share price produced a total return of 4.4% over […]

a notepad and pen sitting next to a cup of coffee in a blue cup and saucer
abrdn European Logistics Income to wind down

abrdn European Logistics Income (ASLI) has announced that it will undergo a managed wind down. Ahead of a continuation vote this year, the board launched the strategic review into the future of the company in November 2023, with the fund suffering from a wide discount to NAV and a materially uncovered dividend. The company received […]

SHIP to return $31m to shareholders and loosen investment restrictions

Tufton Oceanic Assets (SHIP) has provided more details on the proposed actions to be taken as a result of its strategic review, the results of which were initially announced on 17 January 2024. The board will propose an amended investment policy, which will ease SHIP’s current investment restrictions, as the current policy prevents making new […]

British Land sells Meadowhall stake for £360m

British Land has exchanged contracts to sell its 50% stake in the Meadowhall Shopping Centre to its joint venture partner Norges Bank Investment Management for £360m. The sale was in line with the company’s strategy to focus on retail parks and reduce exposure to shopping centres. The sales price, which values the whole site (including […]

QD view - British Land's bold move too late?
QuotedData’s morning briefing 20 May 2024 – HVPE, HLCL

In QuotedData’s morning briefing 20 May 2024: HarbourVest Global Private Equity (HVPE) reported its monthly NAV for April 2024. HPVE has an estimated NAV per share of $50.47 (£40.40), a decrease of 0.4% in US dollar terms over the previous month. HPVE invested $55m into HarbourVest funds over April, as part of its $2.3bn investment […]

230124 morning
QuotedData’s weekly news show 17th May 2024

Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Chrysalis (0:16) • Pantheon International (5:07) • Henderson European Focus / Henderson Eurotrust (6:48) This week’s interview was with Mark Sheppard from Manchester & London IT […]

QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition
QD view – Family fortunes

It is not a bad rule of thumb to invest in a similar way to people who already have a lot of money. Therefore, the logic of investing alongside in one of the investment trusts where a wealthy family has a large shareholding seems inescapable. But investors need to ensure their interests are looked after […]

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