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QuotedData’s morning briefing 4 November 2020

In QuotedData’s morning briefing 4 November 2020 –

  • It has been a quiet morning of news so far, with all eyes on the US election.
  • Value and Income (VIN) has received notice from OLIM Limited, the investment manager responsible for the management of VIN’s equity portfolio, of its intention to terminate the investment management agreement. The agreement will terminate on 31 January 2021. [This is rather surprising news, manager resignations are rare events, and it comes without any explanation as to why. OLIM has other clients. 40% of the trust’s portfolio is invested in property and falls in the value of that and the equity portfolio have pushed gearing (borrowing as a percentage of net assets) up to 41%. The trust now has net assets of about £110m and trades on a 32% discount to that. We would expect to see another announcement from the trust soon. This does explain why they seemed reluctant to come onto our weekly news show, however.]
  • Midlands-focused Real Estate Investors (RLE) provided a rental update:
    • “Updated rent collection for the March quarter is now 93.44% (adjusted for monthly and deferred agreements) up from 90.7% reported on 21 September, 90.16% reported on 15 July and 81% reported on 15 June.
    • June quarter rent collection has now risen to 90.23% (adjusted for monthly and deferred agreements), up from 86.9% reported on 21 September and 81.94% reported on 15 July.
    • September quarter rent collection is currently 89.92% (adjusted for monthly and deferred agreements).”
  • Premier Global Infrastructure has published details of a new ZDP issue

We also have annual results from Henderson Far East Income.

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