In QuotedData’s morning briefing 13 August 2021:
- Murray International (MYI) has announced its interim results for the six months ended 30 June 2021. As we reported yesterday, sadly, Simon Fraser who was appointed the trust’s chairman in April of this year, passed away on 9 August following a short illness. David Hardie will be chairing the company on an interim basis. During the period, MYI provided an NAV total return of 8.7%, which compares against an 11.4% total return from its refence index, the All World Total Return Index. Over the six month period, the share price total return was 7.3%, reflecting a small widening of the discount at which the shares traded over the NAV.
-
Aberdeen Asian Income Fund (AAIF) has announced its interim results for the six months ended 30 June 2021. During the period, AAIF provided NAV and share price total returns of 6.9% and 2.7% respectively. These compare against returns from the MSCI AC Asia Pacific ex Japan High Dividend Yield Index return of 7.5% and the MSCI AC Asia Pacific ex Japan Index return of 5.8%. Two dividend payments totalling 4.5p will be distributed to Shareholders which translates to an annualised dividend yield of 4.0% in line with the MSCI AC Asia Pacific High Dividend Yield Index and exceeding the 1.9% yield of the MSCI AC Asia Pacific ex Japan index. The report says that, since the end of the interim period, Asian markets have corrected sharply following sudden developments in the regulation of private education companies in China that have sparked a broader sell-off on fears that similar policies may be rolled out more widely. AAIF says that this reaffirms its investment manager’s long-held belief that the quality of management and business model is crucial to investing in China over the long term. AAIF has a modest weight to China, having not invested in the internet stocks that do not pay dividends and steering clear of companies that do not pass its quality filter.
- Princess Private Equity (PEY) has announced its interim results for the six months ended 30 June 2021. During the period, PEY’s NAV increased to EUR 15.24 per share, representing a total return of +16.7% including the first interim dividend, while the share price total return was +9.8%. PEY’s first interim dividend of EUR 0.335 per share was paid to shareholders in June, in line with the objective to distribute 5% of opening NAV for each financial year, via semi-annual payments in June and December. Valuation developments (+19.6%) were the key driver of NAV growth, while currency effects were slightly negative. The largest contributors to Princess’ NAV growth were the investments in GlobalLogic, International Schools Partnership and SRS Distribution.
-
Riverstone Energy (RSE) has announced that it is making an investment of up to $0.6 million in Decarbonization Plus Acquisition Corporation IV (DCRD), a special purpose acquisition vehicle sponsored by an affiliate of its investment manager. DCRD seeks to capitalise on the Riverstone platform to identify, acquire and operate a business in industries that may provide opportunities for attractive risk-adjusted returns in one of the multiple sectors that may advance the objectives of global decarbonization. This includes the energy and agriculture, industrials, transportation and commercial and residential sectors.
-
Highbridge Tactical Credit Fund (HTCF) says that it will return £15,188,783.56 (equivalent to £1.24 per share) to shareholders on 20 August 2021 by way of a compulsory partial redemption of ordinary shares. The Redemption will be effected at £2.7513 per Share, being the NAV per Share as at 30 June 2021 and pro rata to holdings of shares on the register at the close of business on 20 August 2021.
- Partners Group, the manager of Princess Private Equity (PEY) has announced that it has agreed to sell Hortifruti Natural da Terra, Brazil’s largest fresh food retail chain, to the Brazilian conglomerate Americanas S.A. The transaction implies an enterprise value for Hortifruti of BRL 2.4 billion, and values Princess’ stake in Hortifruti at approximately BRL 67 million. This compares to a carrying value of BRL 60.6 million (EUR 10.3 million) at 30 June 2021.
We also have Aberdeen Asian Income’s plans to migrate its tax residency to the UK.