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, […]
Gresham House Energy Storage Fund (GRID) shares have risen nearly 4% after the £415m battery fund announced it would start construction on its biggest project yet. The company has agreed to buy a 100MW battery energy storage system in Elland in West Yorkshire next to an operational project it already has there. Elland 2 is […]
Border to Coast, the £70bn local authority pension scheme, and wealth manager City Asset Management have joined CG Asset Management in opposition to the proposed merger of HICL Infrastructure (HICL) and its sister fund The Renewables Infrastructure Group (TRIG). Amir Kia, a portfolio manager at Border to Coast, which has a £5m stake in £2bn […]
Murray Income (MUT), the £883m underperforming UK equity income investment trust, has appointed Artemis to turn around the fortunes of the 102-year-old fund. Concluding a strategic review begun in July, the board said it had picked the Artemis UK equity income team of Adrian Frost, Andy Marsh and Nick Shenton to run its portfolio. The […]
Biotech Growth (BIOG) has hailed its recovery from its sector’s bear market of the past three years, posting a 36.9% total investment return for the six months to 30 September. The rebound, which smashed the 10.6% in the Nasdaq Biotechnology index, reflected “exceptional returns” from the likes of Mineralys Therapeutics, Alnylam Pharmaceuticals and Avidity Biosciences […]
A look at October’s top risers and fallers reveals another busy month for investment companies. Best performing investment companies October’s biggest share price risers (left) and biggest gainers in net asset value (right). Fund Share price % Fund Net asset value (NAV) % Gore St Energy Storage 24.7 Biotech Growth 16.4 Seraphim Space 19.4 Geiger […]
3i Group (III) directors and insiders have piled into the private equity giant’s shares since their 16% slump last Thursday, snapping up over £3.9m of stock in a sign of their apparent confidence. On 13 November, the day of the half-year results that warned of slowing sales growth at Action, the discount retailer that makes […]
Positive half-year results from HICL Infrastructure (HICL) underline why some shareholders in the £2.1bn investment trust object to its proposed merger with sister fund Renewables Infrastructure Group (TRIG). Net asset value (NAV) per share rose by 2.9p to 156p in the six months to 30 September with the annualised underlying total return jumping to 10.3% from […]
British Land (BLND), the £3.7bn real estate investment trust, says it delivered a good operational and financial performance in the half year to 30 September with its core sectors of prime London office campuses and retail parks delivering 4% like-for-like net rental income growth. “This, combined with a 12% reduction in admin expenses, more than […]
