JPMorgan Brazil loses continuation vote – last single country fund in Latin America will liquidate At JPMorgan Brazil’s AGM, which was held today, all of the resolutions put to the shareholders were passed except Resolution No. 10 relating to the continuation vote. The board has recommended that shareholders vote against continuation so perhaps this wasn’t a […]
JPMorgan Mid Cap has recovered its underperformance relative to its benchmark since 30 June – JPMorgan Mid Cap has published results covering the year ended 30 June 2020. The NAV total return was -14.0% and the share price total return was -15.0%. For the same period the return from the benchmark, the 250 (excluding investment trusts) […]
Oakley sells Casa.it – Oakley Capital has sold its stake in Casa.it. The trust’s share of the proceeds from this transaction, which is at a 50% premium to the 30 June 2020 carrying value, will be approximately £34m, an uplift of 7p to the NAV at 30 June 2020. Casa is one of the leading players […]
In QuotedData’s morning briefing 17 September 2020 LXI REIT says that “following robust rent collection for the quarter ending September 2020“, it is increasing its quarterly dividend guidance by 4% to 1.35p per share (from 1.30p per share). Supermarket Income REIT is looking for more money. The aim is to issue £150m worth of shares at […]
GCP Student results show modest COVID hit – GCP Student Living has announced results for the financial year ended 30 June 2020. Highlights are: EPRA NAV per share of 171.78p at 30 June 2020. Total shareholder return of -20.6% for the period. Annualised total shareholder return since IPO of 7.4%, compared to the company’s target return of 8-10%. […]
JZ writedown breaches loan covenant – JZ Capital expects to write off another $80m to $100m from the valuation of its property portfolio. A new revaluation takes into account the effect of COVID on the fund’s properties. “As a consequence of the aforementioned write downs, the Company currently expects that it will require a waiver under […]
Troy wins Securities Trust mandate – The board of Securities Trust of Scotland says that, after an extensive review of its investment management arrangements, it has entered into agreements to appoint Troy Asset Management Limited as its new investment manager and PATAC Limited as its alternative investment fund manager (“AIFM”), company secretary and administrator. The […]
Tellworth British Recovery and Growth publishes prospectus you can access this here We have also published an IPO note on this new launch. We have a new arrangement with PrimaryBid Limited whereby Marten & Co may profit from applications for the Tellworth IPO that are made through that business. PrimaryBid is one of the intermediaries […]
Gabelli Value liquidation blocked – [in what we think is one of the more outrageous moves that we have seen in the investment company sector for some while], Associated Capital Group, whose chairman is Mario J Gabelli, has blocked the liquidation of Gabelli Value Plus+ Trust. In July this year, shareholders voted overwhelmingly against the […]
In QuotedData’s morning briefing 15 September 2020: McKay Securities has let the whole of 135 Theale Logistics Park, its 134,430 sq ft speculative warehouse development at Junction 12 of the M4 near Reading, to a logistics operator. The new tenant has agreed to a 10-year FRI lease term at a rent which is 2.0% ahead of […]
