In QuotedData’s morning briefing 7 March 2022:
- In light of the Russian invasion of Ukraine, BlackRock on Monday, 28 February 2022, suspended the purchase of all Russian securities in its active and index funds. The boards of BlackRock World Mining (BRWM) and BlackRock Energy & Resources Income (BERI) confirm that the manager (BlackRock Fund Managers) is taking the necessary actions to ensure adherence to relevant sanctions laws and regulations including those of the US, UK and EU.
- JPMorgan Global Emerging Markets Income (JEMI) has provided an update on its Russian exposure. The update says that, as at the end of January 2022, JEMI’s published portfolio breakdown shows its Russian exposure as 3.6%. However, since that date, the Investment Managers have been reducing the Company’s exposure to Russian equities and, following the invasion of Ukraine, JEMI considers that there has been a material change to the market value of its Russian investments and it is applying a fair valuation methodology to those investments. As at 4 March 2022, JEMI was invested, both directly and indirectly via GDRs, in three Russian equities which, in aggregate, represented less than 0.25% of the Company’s portfolio.
- abrdn Smaller Companies Income has declared a first interim dividend of 2.40p per share in respect of the year to 31 December 2022 (first interim 2021: 2.15p) payable on 25 April 2022. The Board is cognisant that it may have to take a different decision for future dividends, once greater clarity emerges of the outlook for the remainder of 2022 and 2023.
- Workspace Group (WKP) has sold Highway Business Park in Limehouse, London E14, and an adjoining property owned by Canada Life Investments. Highway Business Park comprises 20,000 sq ft of light industrial space and Workspace will receive £23.7m for its share of the sale, a significant premium to the 30 September 2021 valuation of £11.6m.
- Alternative Income REIT (AIRE) reported a net asset value (NAV) increase in the year to 31 December 2021 of 6.7% to 90.38p per share. The majority of the increase was due to an uplift in the value of its portfolio of 4.6% on a like-for-like basis to £107.73m. EPRA earnings per share in the six months to 31 December 2021 was up 13.1% to 3.28p, while the group paid 2.6p in dividends (up 15.6% on the prior period).
- Tetragon (TFG) has declared a dividend of $0.11 (11.00 cents) per share in respect of the fourth quarter of 2021. Meanwhile, the company intends to conduct a tender offer for a number of Tetragon non-voting shares with a maximum value of up to $50m, to be held as treasury shares. Details of this planned tender offer will be announced shortly. A repurchase of Tetragon shares at a price below NAV will be accretive to its fully diluted NAV per share.