Last minute reversal leaves Independent in negative territory – over the year to 30 November 2018, the trust produced a net asset value total return of -10.8%, following a steep fall from a high point reached only a few weeks previously. Over the same period, the All-Share Index and the World Index would have produced […]
AEW UK Long Lease REIT buys Bristol care home – AEW UK Long Lease REIT has bought a long let care home in Nailsea, Bristol for £6.65m reflecting a net initial yield of 5.8%, funded through the company’s debt facility. The asset comprises a 62-room, purpose built care home located in an affluent suburb approx. 8 […]
Downbeat Bankers at least manages positive return – Over the year ending 31 October 2018, Bankers Investment Trust generated a 0.8% total return on net assets but its share price fell from 852p to 835p to finish the year on a 3.6% discount. By contrast, the MSCI World Index returned 5.1% over this period. The chairman […]
Summit Germany considers spinning out German real estate – Summit Germany has announced that it is considering a private placement and listing of shares in Summit Luxco S.à r.l. (“Luxco”) on the regulated market of the Frankfurt Stock Exchange (Prime Standard) in 2019, subject to market conditions. Luxco currently is a wholly-owned subsidiary of Summit and […]
Jupiter Emerging and Frontier Income held back by small cap and frontier exposure – Jupiter Emerging and Frontier Income has published its first set of results covering the period from its launch to 30 September 2018. Over this period it lagged its benchmark; the NAV total return was 2.3%, while the MSCI Emerging Markets Index returned […]
TwentyFour Select Monthly Income NAV slips in volatile markets – Over the year ended 30 September 2018, TwentyFour Select Monthly Income’s NAV fell by 3.4%. Dividends totalled 6.55p, barely changed from the 6.56p paid for the year before.. The chairperson notes that, as US inflation moved higher in January 2018, interest rate markets became concerned that the […]
Aberdeen Diversified Income and Growth bailed out by narrowing discount – Aberdeen Diversified Income & Growth has published results for the year ended 30 September 2018. Over the period, the NAV rose 2.5% on a total return basis. Fortunately, however, the shares moved from a 3.1% discount to a 3.2% premium. The share price ended the year […]
JZ Capital sells Petrocorner – JZ Capital Partners Limited has announced the sale of Petrocorner, a network of petrol stations throughout Spain, to a Spanish subsidiary of British Petroleum (“BP”). JZCP owns Petrocorner through its 18.75% stake in JZI Fund III, L.P. Headquartered in Madrid, Petrocorner is a strategic build-up in the Spanish retail petrol station […]
Marwyn sets lowball price for partial offer – Marwyn Value Investors has released an update to its partial offer (announced on 3 January 2019). The price range for the partial offer has been set at 125p to 135p per ordinary share. Marwyn still intends to purchase £5m worth but says it does reserve the right to […]
Stenprop sells Euston House – Stenprop has reached agreement to sell of its London office building known as Euston House. The deal is being structured as a sale of all the shares of a special purpose vehicle owned by Stenprop to Erel 4 S.a.r.l. The deal values the property at £95m (£14.5m more than book value) […]
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