Macau Property Opportunities (MPO), the £34m real estate fund trying to complete a lengthy wind-up in the China region’s prolonged slowdown, is considering an emergency share issue to resolve a cash flow crisis. The company, which in August reported a 23.5% slump in net asset value in the three months to 30 June, said the […]
Gore Street Energy Storage (GSF) has delivered on its commitment to overhaul its board a month after a row over the disclosure of £10.6m additional fees to its fund manager. The battery fund has appointed two experienced investment company directors, Norman Crighton and Angus Gordon Lennox, and said its current chair and senior independent director […]
Middlefield Canadian Income (MCT) will start its new life as an actively managed exchange-traded fund (ETF) with just over £75m, it was confirmed today. The £150m investment trust said 52.7% of its shares would roll over into the ETF that will start trading on Thursday with the remainder receiving cash as they exit. Middlefield was […]
John Scott, the outgoing chair of Bluefield Solar Income (BSIF), has warned shareholders in the renewables fund that the “business as usual” option is unavailable as he held out the prospect of the double-digit yielder merging with its fund manager Bluefield Partners and cutting its payout. Delivering his last annual report, Scott said the £493m […]
Life sciences fund Syncona (SYNC) has withdrawn plans for a managed wind-down and will instead focus on returning £250m of capital to shareholders. Following consultation with its biggest shareholders on its strategic options, Syncona Investment Management (SIML) will, however, continue to launch a new private fund for institutions once the board of the listed investment […]
Mobius (MMIT), the £166m emerging markets smaller companies investment trust, proposes moving its triennial 100% redemption facility to two-yearly once the next redemption in December is complete. That would mean the next exit opportunity would be in 2027. James Carthew, head of investment company research at QuotedData, commented: “As I have said before, I think […]
Mercantile (MRC), the £1.8bn UK mid-cap equities investment trust run by JPMorgan’s Guy Anderson and Anthony Lynch, underperformed in the half-year to 31 July with its 6% investment and total shareholder returns both trailing the 7.2% return from the FTSE All-Share excluding the top 100 blue chips and all investment trusts. Performance was bolstered by […]
RTW Biotech Opportunities (RTW) is to extend share buybacks by $15m (£11m) following a flurry of four bids for portfolio companies since 30 June. This is in addition to the $24.2m of capital the £397m investment trust has returned to shareholders through share repurchases since launching a $30m buyback programme in 2023. The updated capital […]
Seraphim Space (SSIT) saw its largely unquoted portfolio of space commercialisation companies rise by 28.9%, or £58.3m, to £259.8m in the year to 30 June. The strong underlying performance was helped by a doubling in the value of ICEYE, the satellite constellation provider that accounted for 37.4% of net assets at the financial year-end, which […]
Home REIT inches towards a relisting of its suspended shares with publication of its delayed 2024 results; Sirius Real Estate makes another big acquisition in Germany; and Montanaro European Smaller Companies will hold its first semi-annual tender offer next month. Home REIT (HOME), the former homeless accommodation provider subject to a regulatory probe over an […]
