Literacy Capital (BOOK), the £227m UK private equity fund, will make its first capital distribution this month, returning £6m to shareholders under the shareholder-approved B-share scheme. Plans for the distribution were announced in July when the investment company booked a 52% uplift in the valuation of its then second biggest holding Velociti Solutions and sold […]
Supermarket Income REIT (SUPR) has entered the convenience store sector for the first time after announcing £40.9m of acquisitions which mean it has deployed half of the £200m raised from a joint venture with Blue Owl Capital in April. It has bought 10 Sainsbury’s convenience stores for £15.3m on a net initial yield of 6.1% […]
Bluefield Solar Income (BSIF), the £445m renewables fund that put up for sale itself and its fund manager this week, has disclosed the biggest potential hit if the government pursues its most radical proposal for replacing the inflation measure used in ROC and FIT incentives. The Department of Energy’s first option of a simple switch from RPI to CP would knock 2p, or 2%, […]
Half-year results from Scottish Mortgage Trust (SMT) show the £12.5bn Baillie Gifford flagship has recorded its best period of recovery since the 2022 growth crash humbled its shares. In the six months to 30 September, the net asset value (NAV) of SMT’s investments rose 22.9%, beating the 15.4% gain in the FTSE All-World index with the half year neatly coinciding with a […]
International Biotechnology Trust (IBT) expressed its optimism for the future after emerging from a highly volatile year to 31 August with an underlying investment return of just 0.7%. Kate Cornish-Bowden, chair of the £267m investment trust, said the flat net asset value (NAV) result, which underpinned a 3.5% total shareholder return, belied a sharp fall […]
The £439m JPMorgan Global Emerging Markets Income Trust (JEMI) reported strong results for the year to 31 July with an underlying net asset value (NAV) total return of 14.1%, outperforming its MSCI Emerging Markets index benchmark, which returned 13.7% in sterling terms, and underpinned a total shareholder return of 16.8%. The trust stands on a […]
The worst fears around the wind-down of Hydrogen Capital Growth (HGEN) have begun to be realised after the collapse of Bramble Energy, one of the investment company’s largest holdings. In a statement after markets closed last night, HGEN said Bramble, a hydrogen fuel cell producer in which the company is a 12.5% shareholder, had appointed […]
Fidelity Special Values (FSV), the best performer in the admittedly small pool of UK All Companies investment trusts, underlined its supremacy today with annual results showing a 14.3% underlying investment return in the year to 31 August. Good blue chip stock picks and sector positioning in banks, tobacco and life insurers by Fidelity fund managers […]
NB Private Equity (NBPE), a £676m co-investor in unquoted companies in North America and Europe, attempted to generate some excitement over its shares today as it accelerated buybacks and laid out plans for at least $100m of new investments. With the shares standing on a wide 26% discount and yielding 4.8%, NBPE signalled its confidence in the portfolio of 71 companies by saying it was ready to expand the $120m, three-year share […]
Octopus Infrastructure (ORIT) and GCP Infrastructure (GCP) have sought to reassure investors about the “limited” potential impact of the government’s proposals to change the inflation measure used in legacy renewable obligation (RO) and feed-in-tariff (FIT) subsidies. ORIT, a £300m investment trust whose shares labour under a 42% discount to net asset value and offer an […]
