Lar Espana sells 22 supermarkets – Lar España has sold 22 commercial premises leased to Eroski to European real estate investment fund Blackbrook Capital. The 22 supermarkets cover an approximate area of 39,000 square meters (28,000 of gross lettable space). The price is €59 million, which represents an uplift of 24% over the €47.6 million that the company paid […]
Herald reports impressive returns – Herald Investment Trust has published its annual report for the year ended 31 December 2020. Its NAV increased by 37% over the year. This compares to an increase of 4.9% for the Numis Smaller Companies plus AIM (ex. investment companies) Index – UK assets make up about half the portfolio – and […]
Fondul boosted by narrowing discount – Fondul Proprietatea has announced results for the year ended 31 December 2020. The NAV total return (in Romanian leu – RON) was 2.21% and the share price return was 26.44%, boosted by a substantial narrowing of the discount which finished the period at 9.7%. The Romanian market did well relative to other […]
Polar Capital Global Financials matches benchmark in transformational year – Over the year ended 30 November 2020, the trust delivered a return of -6.5%, just about in line with its benchmark, which returned -6.4%. Shareholders did better than this though as the discount narrowed, leaving them with a return of -1.6%. This was a year […]
In QuotedData’s morning briefing 23 February 2021: Sequoia Economic Infrastructure Income Fund says that it plans to raise up to a maximum of £172.9m by issuing up to 164,312,714 new ordinary shares at 105.25p. The price is a 4.0% premium to NAV and a discount of 2.7% to the closing price of 108.2p last night. The proceeds […]
QD view – Resurgent emergence: What are the prospects for emerging markets funds as the global economy recovers from COVID-19? The place to be Quite a few commentators have been picking emerging markets as the place to be in 2021. Part of the argument is that many of them (particularly in parts of Asia) coped […]
Brunner beat the market in 2020 – Brunner Investment trust’s results for the year ended 30 November 2020 show an NAV total return of 6.2% for the period, ahead of the 5.3% return delivered by the trust’s benchmark (70% World Ex-UK and 30% UK All-Share). As dividend cuts and suspensions abounded in the wake of the […]
Riverstone Credit bucks poor energy markets for 2020 – Riverstone Credit Opportunities Income has published results for the year ended 31 December 2020. The company finished the year with an NAV of $1.04. It was also able to declare dividends totalling 7 cents per share for 2020. These were covered by earnings of 7.59 cents. The […]
KKV Secured Loan secures an exit and an NAV uplift – Finally, some better news for investors in KKV Secured Loan as it reports that it has received net proceeds of $24.3m from the refinancing of two existing investments in a US based reinsurance company. These investments are referred to as Borrowers 7 and 9 in […]
In QuotedData’s morning briefing 18 February 2021: SEGRO (SGRO) says its French subsidiary is making a tender offer for the 5.6% of Sofibus Patrimoine that it doesn’t already own. SEGRO’s offer is €313.71 per share. Grainger (GRI – the residential property company) has made Robert Hudson its chief financial officer. Rob is currently chief finance and operations […]
