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QuotedData’s morning briefing 6 September 2022

In QuotedData’s morning briefing 6 September 2022:

  • abrdn UK Smaller Companies Growth Trust (AUSC) says that, after 37 years with Standard Life and abrdn, Harry Nimmo will retire at the end of 2022 and will, therefore, step down as co-manager of the company at that time. Abby Glennie, who has worked alongside Harry in the smaller companies team since January 2016 and has been co-manager since November 2020, will become the  lead manager and will be supported by Amanda Yeaman, an investment director in the smaller companies team. Harry joined Standard Life in 1985, started the smaller companies team in 1993, and has been the manager of the trust for over 19 years. Under his management, the trust has grown from net assets of £44m to over £500m. [Harry has long been a leading light in the sector and we wish him all the best for his retirement.]
  • Following consultation with its largest institutional and private wealth shareholders, and in consideration of its shares trading close to NAV, AVI Japan Opportunities (AJOT) has concluded that it does not need to offer shareholders an exit opportunity at this time. [We are pleased that the trust’s good track record has helped create a situation where the trust trades at a much tighter discount than the rest of its peer group. Without the need to shrink the trust, the manager can focus on extracting value from the underlying portfolio.] The next exit opportunity will be put to shareholders in two years’ time. Any shareholder that has not been consulted but wishes to contribute to the process should contact their broker.
  • Warehouse REIT (WHR) will be added as a constituent of the FTSE 250 and All Share Indices, effective from the start of trading on 19 September 2022. The company will also be added to the FTSE EPRA/NAREIT Global Real Estate Index Series, also effective from the start of trading on 19 September 2022.

We also have news of two new investments by Oakley Capital Investments and the sale of an “income strip” in Thorpe Park and Alton Towers by LXI REIT.

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