Strong half-year results from Cordiant Digital Infrastructure; Seraphim Space pauses for breath in its first quarter after previous valuation hikes; Caledonia Investments breaks down a 4.4% return six-month return; Molten Ventures is on a roll; Macau Property Opportunities will close its emergency fund raise tomorrow; and Premier Miton Global Renewables shares are temporarily suspended. Cordiant […]
AI chipmaker Nvidia has bought a stake in Revolut valuing the 10-year-old fintech company at $75bn (£57bn), more than the market values of listed high street banks Barclays (BARC), Lloyds (LLOY) and NatWest (NWG). Nvidia’s venture capital arm NVentures took part in a fundraise led by Coatue, Greenoaks, Dragoneer and Fidelity that provided employees a fifth opportunity to sell some of their shares in the unquoted company. Revolut did […]
Shires Income (SHRS), a £112m, high-yielding UK equity and bond income fund, saw all the sectors in its portfolio rise in the six months to 30 September as it handsomely beat the FTSE All-Share. The investment trust achieved an underlying net asset value total return of 15% that outperformed the UK benchmark’s 11.6% by 3.4%, although shareholders had to make do […]
Activist Saba Capital has increased the pressure on Pantheon International (PIN) to do more to narrow its 29% share price discount by taking a 5% stake in the £1.5bn listed private equity fund. A filing on Friday showed the hedge fund held the £80m position in Pantheon Ventures’ flagship mostly through swap derivatives rather than […]
Vietnam Holding (VNH) says net asset value fell 3.1% in October, underperforming the Vietnam Index which dipped 0.7%. The country suffered severe weather with typhoons battering the north and central regions leading to flooding that claimed 90 lives and persisted into early November. As a result, retail sales growth eased to 7.2% as consumers stayed […]
AEW UK (AEWU) real estate investment trust says commercial property capital values are “at their lowest point” in its 10-year history, providing the £165m top performer, which won a QuotedData Investors’ Choice award last month, with plenty of attractive opportunities if only it could raise more money. At the end of September, AEWU had £13.2m […]
VH Global Energy Infrastructure (ENRG), the £300m international renewables fund, increased net asset value (NAV) by 5.8% in the third quarter in an encouraging start to the three-year wind-down approved by shareholders in August. NAV per share rose 5.8p from 100.9p at 30 June to 106.7p on 30 September as a result of market feedback […]
Montanaro European Smaller Companies (MTE), the £239m investment trust run by George Cooke and Stefan Fischerfeier at Montanaro Asset Management (MAM), saw 20.5% of its shares put up for sale in the 5% tender offer announced last month. Winterflood analyst Emma Bird said the level of over-subscription for the first semi-annual tender suggested a lack […]
HgCapital Trust (HGT) private equity fund manager Hg has sold its holding in Intelerad, a medical imaging software provider, to GE Healthcare in a transaction valuing the company at $2.3bn. HgT’s stake in Intelerad was valued at £52m, a £20m, or 62%, uplift over the £32m carrying value at 30 September. This lifts the investment […]
Foresight Solar (FSFL) has shocked shareholders with news that it will have to pay more tax in future, reducing its current valuation, and that its potential hit from the government’s reform of legacy renewable incentives could knock a further 10% off net asset value (NAV). Long-suffering shareholders in renewable infrastructure funds have had to get used to falling power prices, […]
