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QuotedData’s morning briefing 11 September 2020

QuotedData's Morning briefing

In QuotedData’s morning briefing 11 September 2020:

  • Schroder Asian Total Return has published its interim results for the half year ended 30 June 2020. The chairman, Sarah MacAulay, says that, the trust provided a NAV total return of 6.1% in the period, outperforming both the return of the reference Index of 0.7% and of the peer group average of 3.1%. She says that strong stock selection contributed significantly to this performance with quality stocks proving resilient, whilst some areas of focus in the portfolio, such as the internet and technology sectors, have proved to be beneficiaries of the business impact of the pandemic.
  • Empiric Student Property has announce that Duncan Garrood will be joining the Company as Chief Executive Officer on 28 September 2020 (click here to read our article on his appointment from June 2020). In addition, William Atkinson, who was appointed in July 2020, will also join Empiric on the same day as Property Director. He has 16 years’ experience in investment and development across a variety of operational assets, in particular multi-family real estate.
  • Secure Income REIT has announced interim results for the six months ended 30 June 2020. EPRA Net Tangible Assets per share are down 10.0% during the period. The company says that, with the exception of its healthcare portfolio tenants who remained trading throughout the pandemic, two thirds of its tenants had to shut down their operations across the world as a result of Covid-19 related lockdowns and restrictions, including the assets it owns.
  • GCP Asset Backed Income (GABI) has announced interim results for the six months ended 30 June 2020. During the period, its NAV per share decreased from 102.33 pence at 31 December 2019 to 100.83 pence at 30 June 2020. However, GABI has collected all expected payments of interest and principal for the period, as well as three early repayment premiums. Its Board says taht remains happy with the performance of the loan book to date and notes that no requests for forbearance have been received for the upcoming quarter.
  • International Public Partnerships (INPP) has announced interim results for the six months ended 30 June 2020. During the period, INPP’s NAV per share has seen a small decline to 149.2p at 30 June 2020, from 150.6p as at 31 December 2020). INPP says that, to date, it has experienced limited impact from Covid-19 on its financial and operational performance and net cash flows received in the period were consistent with expectations prior to the pandemic.
  • BlackRock Latin American has announced interim results for the six months ended 30 June 2020. During the period, its NAV per share has fallen by 39.1% in capital terms and 37.6% in total return terms. It has therefore underperformed the MSCI EM Latin America Index (net return) index, which fell by 35.2% over the six months ended 30 June 2020. The annoucnement notes that all countries in the region posted negative returns during the period with Colombia and Brazil the worst hit (falling by 44.8% and 38.9% respectively) with the impact of COVID-19 exacerbated by the severe declines in oil prices following Saudi Arabia’s price war with Russia in March 2020.

We have also had a disposal by LondonMetric Property, annual results from Ruffer, interims from Henderson High Income and and Hipgnosis‘ has acquired of Chrissie Hynde’s catalogue.

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