In QuotedData’s morning briefing 25 August 2020: Princess Private Equity says that its manager, Partners Group, has agreed the sale of its majority equity stake in PCI Pharma Services to private equity firm Kohlberg & Company and Abu Dhabi-based sovereign investor Mubadala Investment Company. Princess, alongside other Partners Group-managed funds, will retain a meaningful minority equity […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered: Princess Private Equity’s dividend cut, Hg Capital’s recent deal-making (including the largest ever software buyout) and comments from BMO Private Equity’s recent results. We also have a comment on Secured Income […]
This week we managed to catch up with John Pattullo and Nicholas Ware, two of the managers of Henderson Diversified Income Trust. The trust is the best-performing in the AIC’s debt – loans and bonds sector over one and three years. It offers a yield of 5.1% and has the lowest ongoing charges ratio (a […]
Hg investing more in Sovos – Global tax software provider Sovos says that Hg – a leading global software investor, partner and supporter of the expansion of Sovos for more than four years – will lead a further, majority investment in the company through the Hg Saturn 2 Fund (through which Hg Capital trust will be […]
In QuotedData’s morning briefing 20 August 2020: Great Portland Estates is issuing £150m of new unsecured US private placement notes. The Sterling denominated notes cover 12 year and 15 year maturities (weighted average of 14.5 years) and have a weighted average fixed rate coupon of 2.77%. The new issue priced on 5 August and, subject to […]
Secured Income publishes wind down proposals – The board of Secured Income Fund has published a circular to shareholders in relation to recommended proposals for a managed wind-down of the company. Cash will be freed up from the portfolio over time. The board has reiterated its previous advice that a managed wind down could take two-to-four years, […]
In QuotedData’s morning briefing 18 August 2020: Acorn Income declared a third interim dividend of 5.75p – in line with previous quarters – but its revenue reserves are running down as it uses these to top up income lost to dividend cuts by companies in its portfolio. Revenue reserves at 30 June were 14.6p, having been […]
Diverse Income’s strengths shine – Diverse Income Fund’s results covering the year ended 31 May 2020 show it beating comparative indices by some margin. Over the year, Diverse Income returned -2.5% while the All-Share returned -11.2%. Total dividend for the year was 3.7p, up from 3.65p. £2.5m of dividends paid to shareholders came from revenue reserves. […]
Defensive portfolio benefits Aberdeen New India – Aberdeen New India has published results for the year ended 31 March 2020. The year end is struck close to the depths of market falls. over the period, the trust’s NAV fell by 22.7% and its share price by 28.9% (as the discount widened from 13.3% to 20.3%). The […]
In QuotedData’s morning briefing 11 August 2020 it is a quiet day: Robert Peto, chair of Standard Life Property Investments Income, will step down in favour of James Clifton-Brown following the next board meeting on 25 August. Robert agreed to extend his role temporarily, following the COVID-19 outbreak. The board now feels that a clearer view […]
