Caledonia Investments confirms its 10-for-one share split will take place tomorrow and Cordiant Digital Infrastructure shares part of its Datacenter investment with a sister fund. Plus updates from AEW UK REIT, Onward Opportunities and GCP Asset Backed Income.

Caledonia Investments (CLDN) confirms its 10-for-one share split will take place tomorrow.

Cordiant Digital Infrastructure (CORD) confirms it is syndicating part of the acquisition of Datacenter United (DCU) it announced last October to another Cordiant managed fund. The separately managed account for a Western European institutional investor is buying a €20m interest in DCU through shares and loan notes. CORD will hold 37.4% of DCU and the Cordiant-managed fund 10.1%. The other shareholders are TINC, the specialist Belgian infrastructure investor, which has a 47.5% economic (50% voting) interest and Friso Haringsma, the CEO of DCU, who has a 5% (non-voting) interest.

Supermarket Income (SUPR) received “strong” institutional demand for its first bond issue with orders of over £985m for the £250m, six-year sterling bond paying a coupon of 5.125% and priced at a spread of 115 basis points over the relevant benchmark.

AEW UK REIT (AEWU) celebrates its tenth anniversary with its shares trading close to “par”, or net asset value, after an 8.9% total return in the three months to 30 June and 36.5% over 12 months. The underlying NAV was more subdued, up 0.69%, but was the sixth consecutive quarter of gains from the £172.5m portfolio yielding 7.4% on the back of its 2p quarterly dividend. The company has maintained the payout for 39 consecutive quarters for most of its history although the dividend continues to be uncovered with earnings per share of 1.73p in the quarter.

GCP Asset Backed Income (GABI) says it will limit the disclosure of asset-specific valuation movements to its half-year and annual reports saying the release of such detail could harm its ability to gain the best value for shareholders during the wind-down that commenced last year. Since May 2024 the company has returned £188.2m to sharholders. Net asset value per share fell by 2.01p, 2.5%, in the first half of this year. 

Onward Opportunities (ONWD), the £27m AIM-listed UK smaller companies fund, updates investors ahead of half-year results in September. Fund manager Laurence Hulse says the investment pipeline is the “healthiest” it has been in 12-months, with a number of new “core” and “nursery” investments expected in the third quarter using money from two capital raises this year. The portfolio returned 10.4% in the year to 30 June helped by being up to 22% in cash during the market falls of the first quarter. Most of the money was invested during the April recovery. In the 27 months since launch an underlying 28.4% was achieved, outperforming the UK AIM All Share index total return by 31.6%.

Custodian Property Income REIT (CREI) spent £245,400 buying 300,000 of its shares at 81.8p yesterday as part of the buyback programme announced last week. They will be held in treasury for potential future re-issue. CREI stands on a 19% discount to net asset value.

HarbourVest Global Private Equity (HVPE) net asset value rose 1.4% last month to $56.28 (£40.99) per share driven by positive currency movements and first quarter valuation updates in its direct company and fund holdings. A further $4.4m of shares were bought back, bringing total repurchases since September 2022 to $202m. The distribution pool for future returns of capital stood at £35.9m at 30 June. At £27.30, the £2bn investment company trades on a 33% discount to NAV.

William Scott, a non-executive director of Worsley Investors (WINV), has bought a further 50,000 shares following annual results this week. He now owns 1m shares, or 3.1%, in the £13m UK smaller companies listed fund.

Puma AIM VCT (PAIM) intends to raise up to £10m in a new share subscription offer in September with an over-allotment facility of a further £10m if there is demand.

City of London Investment Management lifts its position in Schroder Japan (SJG) to 17.4% from just under 17%. The £304m trust stands on a 9.5% discount.