QuotedData’s morning briefing 4 July 2024 – PCFT, ADIG, GRID

In QuotedData’s morning briefing 4 July 2024:

• Polar Capital Global Financials (PCFT) has published six-month numbers covering the period ended 31 May 2024. The trust beat its benchmark, returning 18.2% in NAV terms and 23.3% in share price terms versus 15.9% for the MSCI All Countries World Financials Index. [We covered many of the reasons for the trust’s strong returns in our June 2024 note.] The chairman said “Our managers retain a positive outlook for the sector and the portfolio. Economic data is broadly supportive and interest rate cuts from the main Central Banks are expected before the end of 2024. This should benefit the business of companies within our investment universe, which continue to trade at low valuations to both the wider market and the sector’s history.”
• abrdn Diversified Income and Growth (ADIG)’s return of £115m by way of a B share scheme has been approved by shareholders. B shares will be issued and redeemed tomorrow (5 July) and cash (about 38p per ordinary share) should be with shareholders on or around 10 July.
• Gresham House Energy Storage (GRID) says its upgraded assets at its Enerby and West Disbury sites are now operational, taking its portfolio capacity up to 1,030MWh. A further 220MWh will be added with its remaining four augmentation projects.

We also have:

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