Full-year results from PRS REIT (PRSR) underline the scale of the bargain pension asset manager Waypoint is getting with its £646.2m acquisition of the family home rental fund. In the year to 30 June, net asset value per share rose 7.4% to 143p from 133.2p, although the rate of growth slowed to 2.3% in the second […]
A weak dollar weighed on ICG Enterprise (ICGT) in the first half of its financial year but marketing efforts by the £949m private equity fund, combined with share buybacks and success in exiting investments during a sector downturn nonetheless produced a good result for shareholders. The investment trust, which invests in private equity funds run […]
LondonMetric Property (LMP) issues a half-year trading statement saying it expects to report a 14% increase in net rental income to £219m for the six months to 30 September following its acquisitions of Highcroft Investments and Urban Logistics this year. A further reduction in the EPRA cost ratio to 7.7% is also anticipated as the […]
Fidelity Emerging Markets (FEML) has notched up a third year of outperformance and its second year of positive returns with shares trading at an all-time high as the weak dollar drives investors back to its sector and the investment recovery reduces the impact of losses arising from Russia’s invasion of Ukraine three years ago. The […]
Half-year results from Baillie Gifford growth capital fund Schiehallion and Franklin Global; annual figures from Alternative Income REIT; shareholder approval for the merger of European Assets with European Smaller Companies Trust; plus updates from Sirius Real Estate, Marwyn Value Investors, Calculus VCT and Canadian General Investments. Schiehallion (MNTN), the £1.1bn Baillie Gifford growth capital fund […]
The £300m flotation of the Beauty Tech Group (TBTG) on Thursday not only cheered the London stock market after a dearth of listings, it has also boosted the three venture capital trusts (VCTs) run by Mercia Fund Management. From a 271p offer price, shares in TBTG rose 5% to 285p on Friday and have softened […]
The managed wind-down of Schroders Capital Global Innovation (INOV), the former Woodford Patient Capital Trust, has caught the attention of financier Hugh Osmond and the senior private equity team at Sun Capital Partners (SunCap). A stock market filing this week showed that Osmond, a veteran deal-maker who bought Pizza Express and helped consolidate the pub […]
The $15bn (£11bn) US flotation of Fermi (FRMI), a data centre real estate investment trust, has given the UK market a new REIT launch after three years in which the number of listed property funds has halved. Shares in the Texan company, which was co-founded by former US energy secretary and Texas governor Rick Perry […]
The chair of Baillie Gifford US Growth (USA) has attacked Saba Capital after the activist hedge fund yesterday almost removed the board of the £751m investment trust eight months after it spectacularly failed to do so in a high profile extraordinary general meeting. Saba used its 29% stake in the trust to vote against the […]
Barings Emerging EMEA Opportunities (BEMO) has taken the controversial decision not to proceed with a conditional 25% tender offer that it committed to five years ago, saying to buy back up to a quarter of its shares would significantly reduce the size of the £94m fund, worsen liquidity in the stock and push up its […]
