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QuotedData’s morning briefing 16 October 2023

a paper, a criossant and a mug of something 230601 morning 3

In QuotedData’s morning briefing 16 October 2023:

  • Asset Value Investors (AVI) has appointed Nick Greenwood to continue managing MIGO Opportunities Trust (MIGO). He will continue to work alongside co-manager Charlotte Cuthbertson, who joined AVI in July. Nick has worked with MIGO since its launch in 2004.
  • Syncona (SYNC) has announced that its portfolio company Anaveon will present updated clinical data from the ongoing phase I dose escalation study of ANV419 in patients with solid tumours in a poster at the European Society of Medical Oncology (ESMO) annual meeting. SYNC’s chair commented: “The data which will be presented at ESMO further underlines the strong safety and tolerability profile of ANV419, demonstrating potential differentiation from other IL-2 therapies. We are encouraged by the NSCLC patient who has demonstrated a durable response and now await the full efficacy read-out in the ongoing monotherapy trial in melanoma at the recommended Phase II dose.”
  • Schroder European REIT’s (SERE’s) portfolio valuation fell 1.9% to €214.1m in the quarter to 30 September 2023, driven by continued outward yield movement due to higher interest rates. Its office assets (32%of portfolio value) witnessed a valuation decline of 0.9%. Industrial assets (30%) witnessed a valuation decline of 2.6%, while its German retail portfolio witnessed a valuation decline of 3.6%. Portfolio loan to value (LTV) is 33% based on gross asset value and 24% net of cash (30 June 2023: 31% gross and 23% net of cash). The company said that it was reviewing select sustainability-led capex initiatives in the portfolio, which it said should improve earnings growth and asset liquidity.

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