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QuotedData’s other news 13 August 2019

In QuotedData’s other news 13 August 2019

  • The global smaller companies fund, Smithson (SSON), has reported interim results covering the period from its incorporation in August 2018 to 30 June 2019. From the date of the company’s launch on 19 October 2018 to 30 June 2019, NAV per share total return was 20.3% compared with the MSCI world SMID index return of 7.5%. The share price total return for the same period was 23.4%. The average premium to the prevailing NAV at which new shares were issued during the period was 2.7%.
  • Civitas Social Housing (CSH) has provided a clarification update this afternoon, following a notice issued yesterday by the Regulator for Social Housing, relating to a breach of the homes standard by BeST housing association, relating to health and safety. CSH has said that the breach relates to properties owned by other landlords and that consequently the Regulator’s notice has no impact on itself. CSH also adds that it is enhancing its property monitoring activities, which includes the appointment of a dedicated head of asset management and the establishment of an ongoing rolling programme of on-site property inspections.

We also have stories on first-half results from Witan and NB Global Floating Rate Income, as well as two acquisitions in Ipswich by Impact Healthcare REIT.

[QD comment: Smithson has got off to a fantastic start, delivering returns that are well-ahead of its competitors and fully justifying both its premium and rapid expansion, which leaves it with a market cap today in excess of £1.3bn. That is big for a small cap fund but the definition of what constitutes small cap differs around the world – Smithson actually expects that the average market cap of stocks in its portfolio will be around £7bn. That leaves it with some room to grow from here.]


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