In QuotedData’s morning briefing 6 November 2020, as Biden overtakes Trump in the race for Georgia:
- Scottish Mortgage has released its interim results for the six months ended 30 September 2020. The trust says that, since the end of March, its NAV has risen by 76% compared to a 24% increase in the index. The Board is recommending an interim dividend of 1.45p, which is a modest increase over the previous year.
- Value and Income Trust (VIT) has released its interim results for the six months ended 30 September 2020. During the period, VIT’s share price increased by 5.2% while its net asset value per share (with debt valued at par) decreased by 3.8%. It says that, in comparison the All-Share Index rose by 5.6% over the half year. VIT says that its third quarterly dividend of 2.9p per share will be paid on 30 April 2021 to those shareholders on the register on 6 April 2021. Separately, the statement acknowledged the manager’s resignation and said that the reason was that the manager is winding down its business. The board is working on a solution to the problem.
- Hg, the Manager of HgCapital Trust (HGT) has announced that the trust will invest approximately £20 million in Gen II Fund Services, LLC , which it describes as a leading independent private equity fund administrator. The investment will be made alongside other institutional clients of Hg through the Hg Genesis 9 Fund. The investment will reduce HGT’s outstanding commitments to invest in Hg transactions to approximately £663 million (57% of the 31 August 2020 pro-forma NAV).
- BlackRock Smaller Companies (BRSC) has announced its interim results for the six months ended 31 August 2020. During the period, BRSC’s NAV fell by 8.7% to 1,435.96p per share, underperforming the Company’s benchmark (the Numis Smaller Companies plus AIM (excluding Investment Companies) Index) by 6.5%. The Company’s share price fell by 17.1% to 1,230.00p per share over the same period. The announcement says that the underperformance relative to the benchmark was driven mainly by stock selection.
- JPMorgan Global Core Real Assets is looking to raise £80m via an issue of C shares.
We also have Wellcome Trust’s recommended cash offer for Urban&Civic and an update from Civitas Social Housing.