GCP Infrastructure Investments (GCP) announced its quarterly results to June 30, 2023. NAV fell 2.2% due to increases in discount rates which reflect the current higher inflation and base rate environment, and recent market transactions that suggest the rising cost of debt has started to impact equity pricing. This has resulted in a c.40bps increase […]
Alliance Trust (ATST) has announced its interm results for the the six months ended 30 June 2023. The company’s NAV total return was 11.1%, significantly outperforming its benchmark index, the MSCI All Country World Index which returned 7.8%. Total shareholder return was 7.6%, due to a widening of the discount, although at -7.2% this was […]
Law Debenture (LWDB) published its results for the half-year ended 30 June 2023. NAV total return for H1 2023 delivered a modest outperformance of 4.0% compared to its benchmark, the FTSE All-Share Index, which returned 2.6%. The company’s profit before tax was up by 8.5% and valuation up 4.4% to £210m (compared to 30 December […]
Henderson Diversified Income (HDIV) released its annual results for the year ended 30 April 2023. NAV total return was down 4% for the year, underperforming its benchmark by 3.7%. Shares fared slightly better, down 1% for the year. It has been a year of two halves for the company with NAV falling by 10.4% through […]
abrdn Diversified Income and Growth (ADIG) has provided an update on its recently announced strategic review, informing shareholders that the decision regarding the funds future is ongoing. The board did note that they were suspending the company’s share buyback policy in the light of the ongoing review process. [QD Comment: This continues to be a […]
abrdn New Dawn Investment Trust (ABD) has announced that it has agreed to terms with the board of Asia Dragon Trust in respect of a proposed combination of the two trusts. The combination, if approved by each company’s shareholders, will be effected by way of a scheme of reconstruction and winding up of abrdn New Dawn […]
Riverstone Credit Opportunities Income (RCOI) provided an update for the quarter ended 30 June 2023. NAV rose 1.4% for the period principally due to continued strong performance by the company’s unrealised portfolio and the successful refinancing and amendment of its investment in Streamline Innovations Inc. The company continues to be a beneficiary of the current […]
Polar Capital Technology Trust (PCT) announced its full year results for the period 30 April 2023. The company’s NAV fell 2.8% for the year while shares fell 4.9% compared to the benchmark Dow Jones Global Technology Index return of 2.9%. While recent performance for the trust has been impressive, driven by large cap US tech, […]
Herald Investment Trust (HRI) announced its half year results for the period ended June 30 2023. NAV for the company fell 0.3% while shares fell 1.8%, outperforming the Numis Smaller Companies Index which fell 1.8%, although the Russell 2000 Technology Index was up more than 16%. Herald operates a global portfolio with exposure to several […]
Twentyfour Income Fund (TFIF) announced its annual report for the year end 31 March 2023. NAV for the year fell 10% while shares fell 6%. Discussing the performance for the period, the investment manager noted the following; “The company started the reporting period just after the invasion of Ukraine by Russia, meaning the risk sentiment […]
