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QuotedData’s morning briefing 25 July 2023

a green cup of something hot - tea or coffee? - sitting on an open bookon which is also resting what looks like a napkin 230406 morning
  • abrdn Diversified Income and Growth (ADIG) has provided an update on its recently announced strategic review, informing shareholders that the decision regarding the funds future is ongoing. The board did note that they were suspending the company’s share buyback policy in the light of the ongoing review process. [QD Comment: This continues to be a frustrating time for investors who have endured endless rethinks of strategy and changes of manager. We have suggested a merger with a fund such as JPMorgan Multi Asset Growth and Income as one way forward, but even that would require a substantial repositioning of the portfolio. Shareholders in closed-end vehicles seem to have an irrational dislike of unlisted/private market assets (despite them being best suited to a closed-end structure). Perhaps the portfolio would be more appealing to another player from outside the closed-end fund industry.]
  • Ediston Property Investment Company (EPIC) has reported a slight uplift in NAV for the quarter to 30 June 2023 of- 0.4% to 80.77p per share. The independent valuation of the group’s retail warehouse portfolio was up 2.0% to £208.4m. The company also said that its strategic review, which was launched earlier this year to consider all options available to the company including a merger or sale of the company, was nearing completion. The board added that it was “encouraged by the progress made to date in this regard” and expects to make a further announcement shortly.

We also have an annual report from Henderson Diversified Income and the results of a capital raise by Unite Group

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