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QuotedData’s morning briefing 20 November 2023 – SSIT, INOV, IBT, USF, UKCM

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In QuotedData’s morning briefing 20 November 2023:

  • Seraphim Space Investment Trust (SSIT) has released its Q1 update. Highlights include a further £4.1m, invested in two projects over the quarter. Portfolio value increased to £199.9m up £12.4m, due to a combination of additional investments, unrealised fair value net gains and an unrealised FX gain. The main component of the fair value increase was due to D-Orbit. SSIT has a cash balance of £29.7m, as of 30 September.
  • Schroders Capital Global Innovation (INOV) has made a £0.8m investment into Memo Therapeutics, a Swiss clinical-stage biopharmaceutical company. Memo develops novel therapeutic antibodies for patients with viral infections and cancer. Memo’s unique antibody discovery and functional screening platform enables the identification, isolation, and selection of antibodies from patient samples or vaccinated animals. INOV participated in Memo’s Series C financing round, which raised CHF 25 million and was led by Pureos Bioventures.
  • International Biotechnology Trust (IBT) has announced an update to its fund management arrangements. From today, Schroder Unit Trusts (SUTL) has been appointed IBT’s Alternative Investment Managers. Ailsa Craig and Marek Poszepczynski have joined Schroder Investment Management Limited (a sister company to SUTL) from SV Health Partners LLP and will continue as IBT’s portfolio managers.
  • US Solar Fund (USF) has announced that following the successful resolution at its AGM on Friday 17 November, the board has appointed Amber Infrastructure Investment Advisor as ISF’s new investment managers, with a target transition date of 1 December 2023.
  • UK Commercial Property REIT (UKCM) has secured a new lease at its Newton’s Court multi-let industrial estate in Dartford, Kent at a level 30% higher than previous passing rent and 2% ahead of ERV. The 14,800 sq ft unit has been taken by Flint Hire & Supply Ltd, a leading UK provider of theatrical goods for scenic artists, propmakers, carpenters, riggers and stage engineers working in live and recorded entertainment. Flint has entered into a 15-year lease with a tenant-only break option in year 10, at an annual rent of £214,377 per annum (£14.50/sq ft) and a six-month rent free period. The lease sets a new record rent for the estate. Flint immediately replaced the previous occupier, without any vacancy period.

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