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QuotedData’s morning briefing 30 April 2021

In QuotedData’s morning briefing 30 April 2021:

  • Keystone Positive Change (KPC) has announced its first set of interim results (for the six months ended 31 March 2021) since Baillie Gifford took over management of the trust on 10 February 2021. Reflecting the short period since Baillie Gifford took over KPC, most of the performance can be attributed to the outgoing manager. Over the six months to 31 March 2020, KPC’s NAV total return was -0.9% compared to a total return of +14.2% for the comparative index (which the announcement describes as “being a chain-linked index comprising the movement on the FTSE All-Share Index to 10 February 2021 and the movement on the MSCI All Country World Index in sterling terms thereafter”). The share price total return was +14.6% over the six months to 31 March 2021, as the discount to NAV narrowed from 17.3% to 4.5%.
  • Impact Healthcare REIT, the care home owner, has raised £35m in a placing. A total of 31,690,327 ordinary shares will be issued at 111.5 pence. The proceeds will be used to repay amounts drawn under its revolving credit facilities and to fund new investments.

We also have BBGI Global Infrastructure’s investment in Tower Hamlets, M&G Credit Income’s plans to introduce a zero discount policy, annual results from Pacific Assets, Honeycomb and Standard Life Investments Property Income Trust, and a trading update from Stenprop.

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