In QuotedData’s morning briefing 17 November 2022:
- As interest rates continue to climb, NB Global Monthly Income Fund (NBMI) is increasing its dividend once again. The target distribution for the remainder of 2022 is a rate of 8.10% of NAV each year (net of fees and expenses) which equates to a target monthly distribution for the remainder of 2022 of 0.54p per share or 6.493p per share, per annum. The increased target distribution is equivalent to an 8.63% yield on Monday’s closing share price of 75.8p, is 6.5% higher than the rate proposed on 03 October 2022, and 38% higher than the total dividends paid in 2021.
- Syncona (SYNC) says that it plans to up its new company creation rate to three per year. It recently made a £16.3m investment in Kesmalea Therapeutics as part of a £20.0m Series A financing alongside Oxford Science Enterprises. Kesmalea is a small molecule drug discovery platform founded by Dr Harry Finch, a world class chemist and co-inventor of GSK’s Serevent. Syncona expects to deploy £150m-250m of capital in its current financial year.
- Schroder UK Public Private Trust (SUPP) has committed $1.17m to T-cell development company, A2 Biotherapeutics as part of its $50m financing round. A2 Biotherapeutics engineers T cells that target the loss of genetic material in tumours, enabling the selective killing of tumour cells while leaving normal cells unharmed.
- NewRiver REIT (NRR) has struck a deal to manage a retail portfolio of 16 retail parks and a shopping centre on behalf of “a leading real estate investor”. The appointment for a term of three years will include leasing and property management responsibilities in return for a fee calculated with reference to the rental income of the portfolio. NRR will not be required to commit any capital under the agreement. The company said the deal aligns with its “strategic aim to use its specialist retail platform to enhance earnings in a capital light way by working in partnership with institutions and other capital providers”. NRR now has 31 retail parks under management.
We also have news of an investment by Octopus Renewables and results from Troy Income and Growth