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QuotedData’s other news 10 July 2019

In QuotedData’s other news 10 July 2019

  • One of the smallest listed investment companies, SVM UK Emerging, published results for the year ended 31 March 2019. It underperformed its benchmark, returning -1.8% in NAV terms and -6.7% in share price terms against a 2.8% return for the IA UK All Companies sector average [no we don’t know why it compares itself to open-ended funds rather than other investment companies]. The main disappointments in the period were ASOS, Superdry, Hostelworld and GVC.
  • Secure Property Development and Investment is selling its Victini logistics property in Greece. The valuation is €12.5m but it comes with €10.3m of debt. SPDI will end up with €2m from the buyer and €0.6m from the previous owner payable over the next 18 months. in total the cash generated represents about a quarter of SPDI’s market cap.
  • Holders of 5,797,435 of Establishment’s 20m shares in issue have elected to rollover into Henderson International Income. Most (just over 10m) went for cash. The balance goes to Garraway.
  • Polar Capital Global Financials is ahead of its benchmark at the half-year stage (NAV up 2.0% against 1.4% for its benchmark for six months ended 31 May 2019). The interim dividend is 2.4p, 6.7% higher than last year’s.


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