In a further development to the recent offers by Concord Chorus Limited and Blackstone Europe for the assets of Hipgnosis’s (SONG) over the past week (discussed here, and here), Concord Chorus Limited has announced that it has reached agreement on the terms of an increased cash offer. This is at an increased price of US$1.25 […]
Boussard & Gavaudan Holding (BGHL) announced its annual results for the 12 month period to 31 December 2023. The NAV for the Euro shares decreased by 0.79% and the Sterling shares increased by 0.57%, whilst the market price of BGHL’s Euro shares increased by 13.51% and the market price of the Sterling shares increased by […]
GCP Asset Backed Income Fund (GABI) announced its annual report for the year end 31 December 2023. The company delivered a NAV total return of 5%, although the share price total return was -14.1%, leading to a large increase in the discount which now sits at 27%. The company did announce profits of £18.3 million […]
Aquila European Renewables (AERI) announced its annual results for the year end 31 December 2023. The NAV total return was -6.0% while shares fell -9.0% with the discount widening to 20.3%. The company sited substantial interest rate increases, supply chain disruptions and falling commodity and electricity prices for the negative returns. AERI did deliver a […]
GCP Infrastructure Investments (GCP) has provided a company update for the three months to 31 March 2024. The company’s NAV fell 2.2% over the period, driven by changes to the inflation forecast to reflect the OBR’s Spring Budget 2024 figures. This contributed around 1.6 pence per ordinary share. Further reductions in forecast electricity prices, primarily […]
In QuotedData’s morning briefing 25 April 2024: Derwent London (DLN) has exchanged contracts to sell its 70,300 sq ft Publicis Group-let office in Clerkenwell for £77.35m to UK investment manager Titan Investors. The redevelopment of the building completed in 2015 and is let at a passing rent of £4.0m, on a lease expiring in 2035, […]
[Apologies that we didn’t spot this earlier but it was buried in the company’s AGM announcement] After talking to the manager (Riverstone Investment Group LLC), its sub-manager, Breakwall Capital LLC, its advisers and certain significant shareholders, Riverstone Credit Opportunities’ board has determined that a managed wind-down of the portfolio at this time is in the […]
QuotedData’s James Carthew recently interviewed the two Baronesses that are part of the team fighting to fix the sector’s cost disclosures problem. 0:00 – Why and how did you get involved in the campaign? 3:31 – Why is this issue important for investors? 8:18 – Is legislation the answer to resolving this issue? 14:50 – […]
NB Private Equity Partners says that over 2023 its NAV total return in dollars was 2.3%. A narrowing discount meant that the share price return was better (9.4% in sterling terms). However, over the first quarter of 2024 the NAV return was -1.4%, driven by declines in quoted holdings and foreign exchange headwinds. Dividends for […]
BioPharma Credit is lending $100m to Trasus Pharmaceuticals. BioPharma Credit Investments V will lend an additional $100m alongside this. Based in the US, Tarsus is a publicly traded biopharmaceutical company with a current market capitalisation of about $1.2bn (Ticker: TARS – NASDAQ). Tarsus currently markets XDEMVY® (lotilaner ophthalmic solution), a treatment for Demodex blepharitis. XDEMVY® […]
US Solar Fund is planning a fixed-price tender offer at $0.764 per share (equivalent to the 31 December 2023 NAV of $0.78 per share, less 2% for the costs of administering the tender offer). Shareholders may choose to tender for sale some or all of their shares, subject to an upper limit of $19m being […]
Martin Currie Global Portfolio managed to beat the return on the MSCI All Country World Index over the 12 months ended 31 January 2024, returning 11.2% to the index’s 10.9%. A stable discount (the result of its zero dividend discount mechanism) meant that the return to shareholders was 11.1%. The company declared dividends totaling 4.2p […]
In QuotedData’s morning briefing 24 April 2024: Apax Global Alpha (APAX) is investing about €8m (through its investment in Apax Digital II) into IANS, “a leading provider of tech-enabled research and advisory services in the information security industry”. The transaction is expected to close in Q2 2024. Octopus Renewables Infrastructure (ORIT) has signed a power […]
Hipgnosis Song Management, the investment advisor for Hipgnosis Songs Fund (SONG) has issued a statement regarding the recent issues surrounding the trust. It is outlined in full below. “Hipgnosis Songs Fund is a self-managed investment trust with multiple specialist advisers, appointed by the Company’s Board, to advise the Board in their respective areas of expertise […]
Ian Lance, co-manager of Temple Bar, had this to say: We note the statement from the Board of IDS confirming that on 9 April 2024 it received a preliminary and conditional non-binding proposal from EP Group regarding a possible cash offer for the entire issued and to be issued share capital of International Distribution Services […]
RM Infrastructure Income (RMII) has released its annual results for the year end 31 December 2023. Earlier in the year, it was announced that the company would be facilitating a managed wind down due to a stubborn discount and falling scale. At 31 December 2023 the NAV total return for the year was 3.16% and […]
In QuotedData’s morning briefing 23 April 2024: Asia Dragon Trust (DGN) announced its interim results for the six months to 29 February 2024. The company’s NAV total return increased by 1.5% over the period, underperforming the MSCI All-Country Asia ex Japan Index benchmark, which delivered a 3.7% increase. The share price total return was 2%, […]
Menhaden Resource Efficiency (MHN) released its annual results today, for the 12 month period ending 31 December 2023. Over the 12 months MHN reported a NAV total return of 23.8% and share price total return of 12.6%. Both represented an outperformance versus MHN’s benchmark, RPI +3%, which returned 8.4% over the same period. The lower […]
Third Point Investors (TPOU) has released its annual results for the 12 months ending 31 December 2023. TPOU generated a NAV total return of 4.0% and a negative share price total return of -5.8%. This compared to the 24.4% return for the MSCI World Index and a 26.3% return for the S&P 500 Index over […]
Blackstone Europe, on the back of the recent firm offer by Concord Chorus for Hipgnosis’s (SONG) assets, has confirmed that it has made a series of proposals regarding a possible offer for the entire issued and to be issued share capital of Hipgnosis. Blackstone has announced that it has made a fourth proposal to acquire […]
In QuotedData’s morning briefing 22 April 2024: Menhaden Resource Efficiency (MHN) has announced that it has completed a new private investment with KKR in Avantus, the leading solar and energy storage developers in the United States. The initial investment of $17.5m equates to 10.0% of MHN’s NAV. The portfolio manager believes the deal is highly […]
There is no announcement to the stock exchange on this yet, but Sky, the FT and other news outlets have a story that Blackstone is proposing to buy Hipgnosis Songs Fund for $1.24 in cash (about 99.6p per share), trumping the $1.16 per share offer from Chorus that was announced on Thursday. $1.24 is an […]
Aquila Energy Efficiency Trust (AEET) has published details of a tender offer under which up to 18.6% of its issued share capital may be repurchased at 94.28p per share, up to a maximum consideration of £17.5m. AEET is publishing a circular which we would suggest that shareholders read. AEET is seeking shareholders’ approval for the […]
Gresham House Energy Storage (GRID) has published a trading update in advance of the publication of its annual results for the year ended 31 December 2023 expected on 29 April 2024. GRID’s chair, John Leggate, says “The BESS sector, the Company and its shareholders are going through the most challenging operating environment since the Company’s […]
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: • Hipgnosis (0:24) • Balanced Commercial Property Trust (6:25) This week’s interview was with Jean-Hugues de Lamaze from Ecofin Global Utilities & Infrastructure – watch it again […]
Forget the Magnificent Seven, the Indian stock market has been the unsung hero of the past decade. The MSCI India has delivered an annualised return of 13.6%[1], that puts it ahead of the MSCI World (9.97%) and its emerging market peers (3.33%). The returns from the country’s small-and mid-cap sector have been even higher. With […]
Middlefield Canadian Income (MCT) has announced its annual results for the year ended 31 December 2023, during which it provided NAV and share price total returns of -1.4% and -10.7% respectively, underperforming its benchmark’s total return of 3.9%. At the beginning of 2023, inflation was falling faster in Canada than in the US, and the […]
Fair Oaks Income (FAIR) has announced its annual results for the year ended 31 December 2023, during which it provided an NAV total return for its 2021 shares of 12.98% (31 December 2022: -0.90%) and 13.82% per realisation share (31 December 2022: 0.5%). Share price total returns were stronger at 30.94% for the 2021 shares […]
In QuotedData’s morning briefing 19 April 2024: Home REIT (HOME) has sold a further 65 properties at auction for a total of £15.9m, representing 4.8% of the company’s portfolio by value and in line with the August 2023 draft valuation. Since August 2023, the company has completed on the sale of 533 properties and exchanged on a […]
Interview with Lyrical Asset Management’s Andrew Wellington and GQG Partners’ Brian Kersmanc. Andrew and Brian discuss the impact and influence of macro on portfolio positioning and take a look at current stocks of interest?
Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.
Due to data protection policies, USA residents can not access our data.
Your content has been curated