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QuotedData’s morning briefing 8 December 2020

Syncona Autolus SYNC

In QuotedData’s morning briefing 8 December 2020 –

  • Syncona’s Autolius reported positive results in its ALLCAR Phase 1 study, where it is using AUTO1 to treat Adult Acute Lymphoblastic Leukemia. COVID has delayed phase 2 – it says that “…enrolment projections have had to be adjusted. We now expect to enroll patients throughout 2021 with a full data set in 2022″. For AUTO 3, the ALEXANDER study, a Phase 1/2 clinical trial, is looking at treatment in relapsed/refractory diffuse large B cell lymphoma (DLBCL), they say ” AUTO3 continues to show a high level of clinical activity across all dose levels and conditions evaluated in this expanded Phase 1 study.” Next steps will be announced early next year.
  • Fidelity China has agreed a new lower management fee from 1 April 2021 – 0.90% on the first £1.5bn of net assets, reducing to 0.70% on net assets over £1.5bn. The variable element from the current fee structure of +/- 0.20% will remain unchanged. In addition, the fixed annual fee of £100,000 for services other than portfolio management will be removed. Based on assets as at 30 September 2020, the revised fee would have reduced the Ongoing Charge by 0.05%.
  • Chenavari Toro says that Benoit Pellegrini will hand over day to day responsibility for portfolio management to Frederic Couderc. Benoit will continue to assist Frederic until 30 September 2021. Frederic Couderc has been with Chenavari since 2009 and has been acting as co-chief investment officer since 2011. He and Loic Fery, founder and co-chief investment officer of Chenavari, have bought approximately two thirds of Benoit Pellegrini’s shareholding (8,930,000 shares) at a price of EUR 0.5923 per share.
  • Blackstone / GSO Loan Financing plans to drop the GSO from its name – it is calling a meeting of shareholders to approve this.
  • JPMorgan European Investment Trust says that for the income portfolio, it plans an increased focus on capital growth alongside dividend yield, greater flexibility to hold stocks which move below the current dividend threshold of the top 30% of the market by yield, higher active weights versus the benchmark and lower turnover.
  • Manchester & London plans to issue up to 6m shares, including 3m to M&M Investment Company Plc, a company controlled by Mark Sheppard, the owner of M&L Capital Management Limited, the company’s manager, and a controlling shareholder in the trust.
  • Connells Limited confirmed its intention to make a firm offer for Countrywide Plc.
  • Greencoat Renewables raised €125m in an oversubscribed placing. 110,619,469 shares will be issued at €1.13 per share.

We also have rejection of the continuation resolution put to Gabelli Value’s shareholders, results from Lowland, recognition of Aberdeen Standard European Logistics‘ efforts to improve its environmental credentials and a new logistics lease signed at LondonMetric.

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