In QuotedData’s morning briefing 3 April 2020
Trump tried to talk up the oil price with news of a Saudi/Russia meeting. It seemed to work but Russia denied all knowledge.
- In light of the COVID-19 restrictions, Hammerson shareholders will no longer be able to attend its AGM on 28 April 2020 and are instead encouraged to vote by proxy. The directors are no longer recommending payment of a final dividend, so reolution 4 has been cancelled.
- Greencoat UK Wind has also revised its AGM arrangements, as shareholders will not be permitted to attend. The AGM will take place on 30 April 2020 as planned and shareholders are encouraged to vote by proxy.
- Aberdeen Japan Investment Trust will be putting its first ever continuation vote to shareholders, as a consequence of recent market volatility (the board is required to offer a continuation vote if the average discount exceeds 10% in the 90 days up to the financial year end – 31 March). The board says that remains confident in the quality of the underlying portfolio.
- JPMorgan European is cutting its management fee. With effect from 1 April 2020, the fee will be reduced to 0.65% on gross assets in excess of GBP500m (calculated by aggregating the gross assets of the Growth and Income portfolios). The existing fee rate of 0.75% will remain applicable on the aggregated gross assets up to GBP500m.
- Jupiter UK Growth has announced a Transition Management Team (TMT). Senior members of Jupiter’s investment team, led by Stephen Pearson (Jupiter’s CIO), are assuming responsibility for the investment management of the Company. The TMT will continue to manage the Company’s investment portfolio until such time as Richard Buxton is appointed as portfolio manager, which is scheduled to occur following shareholder approval of Jupiter’s acquisition of Merian Global Investors.
We also have news of DP Aircraft 1 suspending its dividend, and updates from CEIBA Investments, SME Credit Realisation Fund and Great Portland Estates in the light of the CO|VID-19 pandemic.