In QuotedData’s morning briefing 14 December 2021:
- Polar Capital Technology (PCT) produced an NAV return of 11.5% and share price return of 6.3% for the six months ended 31 October 2021, unfortunately lagging the return on the benchmark of 13.3%. Some stocks that had done exceptionally well during the pandemic gave back some performance as economies re-opened. The largest individual detractor to relative performance was the drag associated with the trust’s average cash position of 4.6% (which cost 51bps – 0.51%) and NASDAQ put options (which cost 50bps).
- Syncona (SYNC) notes that one of its investee companies, Freeline Therapeutics has dropped its work on haemophilia A and is cutting its workforce by a quarter.
- Gresham House Strategic (GHS)’s initial tender is for 27% of its shares (939,838) and is at 1551.17p per share. The tender needs to be approved at the meeting tomorrow.
- Ediston Property Investment Company (EPIC) has sold office buildings in Edinburgh (145 Morrison Street) and Newcastle (Citygate II) for a total of £31.435m, which is 3.4% below the 30 September 2021 valuation. The sales are in line with the company’s revised strategy to sell its office portfolio and to reinvest the proceeds in retail warehouses.
- Primary Health Properties (PHP) has acquired the Parkside Medical Centre in Boston, Lincolnshire for £6.8m. The property is fully let to a GP practice and a pharmacy. The property has a weighted average unexpired lease term (WAULT) of 13.5 years. This acquisition will increase PHP’s portfolio to a total of 520 assets, of which 20 are in Ireland, with a contracted rent roll of over £139m.
We also have an update on the situation at Sequoia Economic Infrastructure, news of a proposed new objective and policy for Henderson Diversified Income, results from Majedie and GCP Infrastructure and a portfolio acquisition by Aberdeen Standard European Logistics Income