In QuotedData’s other news 25 November 2019 –
- Templeton Emerging Markets (TEM) reported half-year results to 30 September 2019 with NAV and the shares increasing by +6.3% +4.4% in total return terms, respectively. This compared with +2.2% from the MSCI Emerging Markets Index. Chairman, Paul Manduca, noted: “Given the current political background, equity markets are likely to remain volatile. It is, however, important to recognise that many of the countries in which TEMIT invests are generating a good level of economic growth and higher rates of growth than developed markets.”
- The self-managed investment company, Personal Assets (PNL), published interim results to 31 October 2019. The +£1bn market cap company, which invests in equity and fixed income-based assets, as well as cash and cash equivalents, delivered an NAV total return of +2.5%.
- Troy Income & Growth (TIGT) reported annual results covering the period to 30 September 2019. The company invests in UK-listed investment companies, property and banks, across several sectors. NAV per share total return for the year to 30 September 2019 was +9.7%, which the company compared to the FTSE All-Share Index total return of +2.7%. The company’s shares increased by +11.7% on a total-return basis.
- Regional REIT (RGL),announced further lettings at 5.5% ahead of expected rental value, amounting to £486,691 per annum. Stephen Inglis, chief executive of the investment manager, also noted: “The acquisition pipeline remains very healthy and we will update shareholders as we continue to invest the proceeds from the earlier in the year equity raise and the recycling of capital from sales.”
- GCP Asset Backed Income (GABI), which invests in asset backed loans, has made an application for 473,703 ordinary shares of no par value each in the company to be admitted to the premium segment of the official list of the Financial Conduct Authority and to trading on the London Stock Exchange. It is expected that these new ordinary shares will be admitted to trading on 29 November 2019.
- Primary Health Properties (PHP) announced that it has contracted with a developer to fund the development and acquisition of a purpose-built primary care centre in Mountain Ash, Rhondda Cynon Taf, Wales. A wholly owned subsidiary of PHP has contracted to provide development funding for the construction of the property for a total cost of £4.92m.
We also have news on Intu Properties continuing its disposals programme and a portfolio update from NB Distressed Debt.