Hipgnosis Songs Fund (SONG) announced a number of proposals which it believes will act as a catalyst for a re-rating of the company’s share price. These include: Catalogue sales for aggregate gross consideration of $465 million; Share buy back programme of up to $180 million; Repayment of $250 million drawn under the company’s revolving credit facility (“RCF”); […]
VietNam Holding ( VNH) provided an update for the month ended August 2023, highlighting the ongoing performance of the region which has boosted returns of VNH, with shares up 22% YTD. Manager commentary – Vietnam’s moment in the sun Vietnam enjoyed further stock market gains and GDP growth in August, setting up a shiny backdrop […]
Ecofin US Renewables Infrastructure Trust (RNEW) announced its half year report for the year period ended June 30 2023. NAV return for the period was 0.3% while shares fell 24.7% which saw the discount widen to 29%. Commenting on the performance, chairman Patrick O’D Bourke noted that this has been a difficult first half for […]
Castelnau Group (CGL) announced the appointment of Richard Brown as non-executive director of the company and chief executive officer of Castelnau Group. A former investment banker, Richard has over 14 years of corporate finance experience. He has advised firms ranging from the largest FTSE 100 companies to private businesses, UK-focused as well as international. The […]
After extensive consultation with its advisers and shareholders, the board of RM Infrastructure Income (RMII) has decided to put forward proposals for a managed wind-down of the company. This follows a separate announcement also released today from GCP Infrastructure that noted RMII and GCP had been unable to agree on structure and terms for a […]
Mid Wynd International (MWY) announced its annual report for the year ended 30 June 2023. The company’s share price rose by 1.0% on a total return basis. NAV total return was 5.6%. This compares with a rise of 11.3% in the company’s comparator index, the MSCI All Country World Index. The share price total return […]
GCP Infrastructure (GCP) has provided an update on its discussions with the board of RM Infrastructure Income (RMII) regarding a potential combination. The board of GCP has been unable to agree on structure and terms with RMII in respect of the RM Scheme that are acceptable to both parties. GCP Infra has therefore notified RMII […]
In QuotedData’s morning briefing for 6 September: Apax Global Alpha Limited (AGA) announced its results for the six months to 30 June 2023. Total NAV Return was 2.4%. Overall performance was supported by growth in the Private Equity portfolio and strong returns from the company’s debt investments. In Private Equity, Total NAV Return was 1.9% […]
In QuotedData’s morning briefing for 5 September: Caledonia Investments (CLDN) announced that it has agreed terms for the sale of its majority stake in Seven Investment Management , a vertically integrated retail wealth management business, to Ontario Teachers’ Pension Plan Board, a global investor with approximately C$250 billion in net assets. Caledonia is expected to […]
I was asked recently about the Murray International trust (MYI) and whether investors should stick with the fund as its long-term manager, Bruce Stout retires in 2024. While I actually quite like the current structure of the portfolio, its performance highlights the risks associated with relatively extreme positioning. The company’s annualised share price total return […]
