Honeycomb raises £100 million – Honeycomb Investment Trust [HONY] has raised £100m with a placing of up to 9,523,809 ordinary shares in the company at an issue price of £10.50 per share. These shares will not be entitled to receive the interim dividend of 20.0 pence per ordinary share, also announced when the capital raising was announced but will be entitled to […]
Sherborne continues its investment strategy through Electra – Sherborne Investors (SIGB), which owns 29.9% of the shares of Electra Private Equity (ELTA) as its only investment, has released its annual report for the year ended 31 December 2017. The NAV of Sherborne delivered a total return of 9.5% and the share price rose by 25.7% on the same basis. […]
Hammerson withdraws from its offer for Intu – On 6 December 2017, Hammerson (HMSO) announced an all-share offer for Intu Properties (INTU). HMSO has decided to with draw from the offer. HMSO had itself been subject to a take over bid from Klépierre, a French real estate investment trust and Europe’s second-biggest publicly traded mall operator, which it […]
NB Distressed Debt’s run-off continues- NB Distressed Debt Investment fund (NBDD), which is currently undergoing a run off program, has published its annual report and audited financial statement for the year ended 31 December 2017. The company overall has an indefinite life span. It is made up of a number of different share classes, which are currently […]
BRSC agrees cut in management fee and to remove the performance fee- BlackRock Smaller Companies (BRSC) has announced that, with effect from 1st March 2018 the investment managers have agreed that the management fee will be reduced. It will be 0.6% on the first £750m total assets less current liabilities. Over £750m the fee will fall to […]
Vietnam Enterprise Investments’ NAV per share increased 46.2% in sterling terms – Vietnam Enterprise Investments Limited (VEIL) delivered its annual report and financial statements for the year ended 31 December 2017. Financial highlights: • In US dollar terms, NAV per share increased 60.1% from US$4.41 to US$7.06, outperforming the VN Index by 7.3%. • In UK sterling terms, NAV per share increased […]
F&C Commercial Property underperforms in 2017 – the NAV total return of F&C Commercial Property (FCPT ) for the year was 8.8% and the share price total return was 3.9% for the year to 31 December 2017. The total return from the portfolio was 8.7%, whereas the MSCI Investment Property Databank (‘IPD’) Quarterly Benchmark Index returned 10.3% […]
Aberdeen Asian Smaller Companies gives details of CULS conversion – Aberdeen Asian Smaller Companies (AAS) has made announcements in January and February about converting its 3.5% convertible unsecured loan stock 2019 (2019 CULS). The company has announced further details in relation to the proposed restructuring of the 2019 CULS and the terms of a new class of convertible unsecured […]
US sanctions against Russia have minimal impact for JPMorgan Russian Securities – The board of JPMorgan Russian Securities (JRS) has put out a comment on the recent additional US sanctions against Russia. It is clear from the published statement that the latest sanctions imposed by the US on Russian companies has a limited impact on the portfolio of […]
New Fund Manager for Schroder UK Growth – The Board of Schroder UK Growth Fund (SDU) announced that it has terminated Schroder Unit Trusts Limited as its AIFM and has appoint Baillie Gifford & Co Limited as the company’s new manager, company secretary and administrator. The board says that the Company’s long-term investment performance is considerably […]
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