Premier Miton Global Renewables Trust has published its annual report covering the 12 months ended 31 December 2023. In a difficult period for the sector that it operates in, the return on the trust’s assets was -7.5%, which was meaningfully better than the return on the S&P Global Clean Energy Index of -20.1%. Thanks to […]
In QuotedData’s morning briefing 7 March 2024: Aquila Energy Efficiency Trust (AEET / AEEE) says it didn’t receive any definitive proposal from potential buyers that it believes, at this time, could deliver greater value to shareholders than its ongoing managed run-off of the portfolio. It wants to hold back a cash buffer but plans to […]
In our note published 7 February 2024, we wrote “The managers envisage that Klarna could be worth $18bn based on Klarna trading on the same gross profit multiple as closest-listed peer, Affirm. CHRY has a 1% stake. On those figures, a Klarna sale could add about 30p to the NAV.” Unfortunately, there was a drafting […]
HydrogenOne Capital Growth notes that its portfolio company Sunfire GmbH has announced a successful equity funding round, part of a wider funding package totalling more than €500m. The investment adviser believes this is a significant financial milestone for Sunfire, with €215m raised in a Series E equity financing round, further complemented by a term loan […]
RIT Capital says that its NAV total return for the year ended 31 December 2023 was 3.2%. There was quite a big dispersion of returns by asset class within the portfolio. The trust’s quoted equities delivered strong performance, returning +18.1% for the year. Uncorrelated strategies produced solid returns, led by credit positions returning double digits. […]
Triple Point Energy Transition has published a circular convening a meeting to approve its managed wind down proposals. Approval will be sought from Shareholders for: the proposed change to the investment objective and investment policy to facilitate the managed wind-down of the company and orderly realisation of its assets; the conditional disposal by TENT Holdings […]
Apax Global Alpha says that its NAV return for the year ended 31 December 2023 was 4.1%. This is a long way behind the return on the MSCI World Index for the year of almost 20%. The chairman notes that deal activity in private equity was more muted during the first half of 2023, but […]
In QuotedData’s morning briefing 5 March 2024: The shareholder consultation exercise that GCP Asset Backed Income (GABI) was undertaking in connection with its strategic review is complete. Shareholders have expressed a broad range of views. Expect to see an announcement on the way forward in the week beginning 11 March 2024.That could include selling the […]
Polar capital Global Financials Trust says that its NAV total return for the year ended 30 November 2023 was -2.8%. This compares to a return on the MSCI ACWI Financials Index of +0.3%. Unfortunately, investors were hit by a widening of the trust’s discount to 12%, leaving them with a return of -7.5%. The discount […]
In QuotedData’s morning briefing 16 February 2024: CT UK High Income Trust has decided to cancel the listing of its units (CHIU). Until now, investors had been able to hold and trade in units in the fund that were comprised of three ordinary shares and 1 B share. Now, the units are being discontinued and […]
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