In QuotedData’s other news 16 January 2020 –
- Bankers Investment Trust (BNKR) has reported annual results to 31 October 2019 with the global sector company delivering a total NAV return of 12.1% (the benchmark FTSE World Index returned 11.7%). BNKR’s chair, Sue Inglis, noted the following in her outlook statement: “Global economic growth remains positive, but appears to be slowing. Corporate earnings growth stalled in 2019, but is currently expected to regain some momentum in 2020. Central banks have adopted a more accommodative stance to counter rising risks to growth and elusive inflationary pressures, but they cannot remain accommodative indefinitely and the long term consequences of their policies are unknown. The risk of an imminent recession now seems low, but cannot be completely discounted.”
- The Independent Investment Trust (IIT) reported annual results to 30 November 2019, with a total NAV return of 8.5% underperforming the FTSE All-Share and the FTSE World indices. Chairman, Douglas McDougall, said poor stock selection, notably since the EU referendum, is largely to blame, with the Eddie Stobart debacle a particularly painful example.
- Merian Chrysalis (MERI) has announced the appointment of Stephen Coe has been appointed as senior independent director of the company with effect from 14 January 2020. This appointment is in addition to Mr Coe’s existing role as chairman of the audit committee.
- Recently launched Octopus Renewables Infrastructure (ORIT) said that for the purposes of the transparency directive, it confirms that its home member state is the United Kingdom.
We also have an update on it from Henderson Alternative Strategies following a root-and-branch review of the portfolio and its competitive positioning and financing announcements from GCP Asset Backed Income and Scottish Mortgage.