Home REIT (HOME), the former homeless accommodation provider blighted by a valuation scandal three years ago, is in talks with real estate investor Patron Capital about selling the bulk of its portfolio for £123m. The indicative price, which has not been finalised, comes as Home agreed to hold exclusive negotiations with London-based Patron. It covers […]
Hydrogen Capital Growth (HGEN), the suspended renewables fund hit by the collapse of fuel cell producer Bramble last week, has just £1.1m cash left with which to pursue its wind-down and salvage something for shareholders. After a delay, half-year results published today will enable the £33m investment trust to apply for a resumption in trading […]
Skittish investors sent 3i Group’s (III) highly-rated shares tumbling 16% today. The private equity giant reported a “very good” first half return of 13% but reiterated its cautious approach to deploying capital against a “challenging” economic and political backdrop. It also warned the downturn in France meant Action, the discount retailer that makes up nearly three quarters of its £29bn portfolio, would likely […]
Pacific Assets (PAC) is to consult its largest shareholders and launch a strategic review after the board said it was “disappointed” by First Sentier Group’s decision to disband its fund management team. The £425m sustainability focused Asia Pacific investment trust said Sydney-based First Sentier had decided to close its Stewart Investors subsidiary in Edinburgh following the departure in August […]
Syncona (SYNC), the £608m life sciences fund seeking to return £250m of capital to compensate shareholders for its steep share price discount, suffered a 1.7% fall in net asset value (NAV) in the six months to 30 September. This was caused by the £15.9m write-down of its investment in the CRT Pioneer Fund, a legacy, […]
Smithson (SSON), the £1.6bn investment trust overseen by star fund manager Terry Smith, is to liquidate and turn itself into an open-ended fund. The sensational decision follows Saba Capital building a 16% stake ahead of a possible continuation vote next year that could have given the activist hedge fund scope to apply pressure on the […]
AVI Global (AGT) says a poor September at the end of its financial year caused the £1bn investment trust to underperform with a 12.4% investment return in the 12 months to 30 September lagging the 16.8% return of the MSCI All Country World index. Shareholders got more than the underlying growth in net asset value […]
Schroder Income Growth (SCF), a £225m “dividend hero”, has urged shareholders to give the investment trust another five years at next month’s continuation vote but has not ruled out accepting a merger offer if one materialises during the consolidation trend sweeping the listed funds market. Chair Ewan Cameron Watt said the board was “not blind to the argument that […]
AVI Japan Opportunity secures bulk of Fidelity Japan’s assets in their merger; 3i Infrastructure posts good half-year results; high-yielding Henderson Far East Income continues to turn around, its annual report shows; stable mate Henderson Smaller appoints Cassie Herlihy from Gresham House; and HgCapital announces a new software investment. AVI Japan Opportunity (AJOT), the £230m smaller […]
Greencoat UK Wind (UKW) and NextEnergy Solar (NESF) have revealed the hit they face from the government’s controversial proposals to change the inflation link in renewable incentives, setting out the arguments they intend to use with officials. UK Wind, the £2.1bn Schroders Greencoat listed fund, the largest in the renewables infrastructure sector, estimates the Department […]
