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QuotedData’s morning briefing 11 April 2023

a cup of coffee sits on a wooden board
  • Caledonia Investments (CLDN) provided a portfolio update to March 31 2023. The company announced that the NAV total return over the past 12 months was 5%. While this is below its long-term target of inflation plus 3% to 6%, it compares favourably to the FTSE All Share return of 2.9% for the same period. This follows strong returns of 27.9% last year and 25.9% in the preceding year. The three-year annualised NAVTR is 19.1%. Management highlighted its private assets and strong USD performance as key drivers over the past year.
  • Rockwood Strategic (RKW) provided an update ahead of the publication of its audited results for the twelve months ended 31 March 2023 with headline numbers looking impressive. NAV total return for the period was +21.4% which compares to declines in the FTSE Small Cap index of -15.7% and FTSE AIM All Share of -22.4%. The company is the No.1 ranked fund over the last 12 months and three years by total shareholder return and NAV total return in the AIC UK small companies sector.
  • SEED Innovations (SEED) reported that the sale of portfolio company Fralis LLC (trading as Leap Gaming) is now unconditional and completion has occurred. As previously announced, Leap entered into a conditional sale and purchase agreement for the sale of the remainder of Leap to existing unitholder IMG Arena US based upon an enterprise value of €14 million. IMG is an existing investor in, and was the second largest owner of, Leap. Following the transaction, Leap will be wholly owned by IMG.

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