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QuotedData’s morning briefing 27 November 2020

QuotedData's morning briefing

In QuotedData’s morning briefing 27 November 2020:

  • HarbourVest Global Private Equity (HVPE) has announced its interim results for the six-months ended 31 July 2020. During the period, HVPE’s NAV per share increased by 2.2% to $28.18 (31 January 2020: $27.58), which the company says is an outperformance of FTSE All World Total Return Index of 2.3% over the period.
  • TR Property (TRY) has announced its interim results for the half-year ended 30 September 2020. During the period, the trust’s NAV per share increased by 12.3% to 402.23p (31 March 2020: 358.11p), while its share price increased by 8.7% to 345.0p (31 March 2020: 317.50p). In total return terms, the TRY’s NAV increased by 14.8%, its share price by 11.3%, thereby both outperforming its benchmark, which increased by 9.8%. Revenue earnings for the first half are 7.65p per share, a reduction of 23% from the 9.96p achieved at the same stage in 2019. The company says that this reflects the cuts and suspensions of dividends that many companies announced early in the year, but TRY’s board has announced a maintained interim dividend of 5.20p, the same as the prior year.
  • Baillie Gifford UK (BGUK) has announced its interim results for the six months to 31 October 2020. During the period, the BGUK’s net asset value per share total return was a positive 10.6% and its share price total return for the same period was a positive 14.7%. In comparison, the company says that the All-Share Index provided a negative 2.0% total return. The net revenue return per share was 1.22pfor the period, compared to 2.51p in the corresponding period last year. No interim dividend will be declared as all dividends are paid as a single final dividend.
  • Highbridge Tactical Credit has announced the publication of a circular, which is being posted today to shareholders. The circular is proposing a discontinuation resolution and contains a notice convening an Extraordinary General Meeting to be held at 10.00 a.m. on 18 December 2020 at Sarnia House, Le Truchot, St Peter Port, Guernsey, GY1 1GR, Channel Islands.
  • The Local Shopping REIT has announced that its name has changed to Alina Holdings Plc.
  • Schroder British Opportunities Trust plc has announced that its IPO has raised gross proceeds of £75 million, with the net proceeds expected to be approximately £73.5 million. 74,999,999 ordinary shares are being issued at a price of 100 pence per Ordinary Share. Of these, 55,339,614 Ordinary Shares will be issued under the placing, 4,767,245 Ordinary Shares will be issued under the offer for subscription and 14,893,140 Ordinary Shares will be issued under the intermediaries offer.
  • Alpha Real Trust (ARTL) has announced interim results for the six months ended 30 June 2020. During the period, ARTL’s NAV per ordinary share fell by 1.2% to 211.1p (31 March 2020: 213.7p). ARTL has declared a quarterly dividend of 1.0p per ordinary share expected to be paid on 8 January 2021.
  • Mountview Estates (MTVW) has published its interim results for the six months ended 30 September 2020. During the period, NAV per share increased by 2.6% to £98.20 (2019 – £95.70), while earnings per share were down by 22.4% to 280.4p (2019 – 361.1p). The interim dividend is being maintained at 200p per share in respect of the year ending 31 March 2021. It is payable on 29 March 2021 to shareholders on the register as at 19 February 2021.
  • Hansa(HAN) has announced its interim results for the six months ended 30 September 2020. During the period, HAN’s NAV increased by 13.6% from 230.2p per share to 261.4p, whilst the discount has narrowed from 43.1% to 37.3% for the Ordinary shares and from 41.2% to 34.6% for the “A” Ordinary shares. The chairman, Jonathan Davie, says that HAN’s core regional and thematic silos within its portfolio have shown good returns during the period, but these were overshadowed by the continuing disappointing performance of HAN’s long-term holding in Ocean Wilson Holdings Ltd (OWHL). OWHL declined by 6.1% during the period, not helped by the continuing decline of the Brazilian Real against the US Dollar.

We also have annual results from Invesco Enhanced Income.

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