In QuotedData’s morning briefing 30 July 2020: Secured Income Fund’s latest factsheet discloses that it extended loans accounting for 27.5% of its portfolio by 12 months in response to COVID-related pressures on the borrowers. This extends the weighted average maturity of the portfolio from 2.58 years to 2.89 years. Shareholders just voted to wind down […]
COVID cuts Custodian’s NAV – Custodian REIT has reported a drop in its NAV to 95.7p from 101.6p over the second quarter of 2020, related to COVID-19. The NAV total return for the period was -4.9%. The valuation yield on the property portfolio rose to 7% from 6.8%. However, 92% of rents were collected (after adjusting […]
In QuotedData’s morning briefing 28 July 2020: Grit Real Estate says the offer by Botswana Development Corporation Limited and Zep-Re (PTA Reinsurance Company) for Grit shares listed on the Johannesburg Stock Exchange (JSE) is unconditional. Grit will de-list from the JSE on 29 July 2020 as planned. The shares continue to trade in London as normal. Aseana […]
Cheaper Princess – Princess Private Equity has agreed a fee cut with its manager. With effect from 1 July 2020, while the headline rate remains the same (0.375% per quarter), the fee will be based on assets excluding unfunded commitments (money that Princess has promised to invest in private equity funds or companies but hasn’t […]
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 the week’s top stories: M&G’s approach to UK Mortgages – which could results in a takeover; Baillie Gifford’s new China trust – rising from the ashes of Witan Pacific; […]
The big news this week has to be the move of Witan Pacific to Baillie Gifford, where it will become a fund focused on China. Anyone who doesn’t want to come along for the ride will have the option of a cash exit at 1% discount to NAV (capped at 40% of the trust). Witan […]
RTW announces second deal of the day – RTW Venture Fund confirms that it participated in a private placement of shares in Milestone Pharmaceuticals (committing $25m). Milestone is a publicly-traded, clinical stage biopharmaceutical company focused on the development and commercialization of innovative cardiovascular medicines. Milestone is advancing Etripamil, its lead investigational product, through Phase 3 clinical […]
RTW backs Encoded Therapeutics – In June, RTW Venture Fund participated in a $135m Series D financing round for Encoded Therapeutics, together with other investment firms. Encoded is a US-based privately held preclinical stage biotech company developing precision gene therapies for a broad range of severe genetic disorders. This was RTW’s seventh investment following its […]
ICG Longbow finances St James’s office – ICG Longbow has provided a new £16.9m loan facility to a vehicle managed by GMG Real Estate, to help it buy an office property in St James’s, which leased to a UK Government agency. The company’s £16.9m forms part of a £22.3m facility, with the balance of the money […]
Bid for HWSI Realisation – To our shame, we missed this story yesterday morning – Cubitt Trade Holdings has made a recommended cash offer for HWSI Realisation at 55.5p per share. The offer values HWSI at about £79,642,300. The price is a 91.38% premium to the closing price of 29p on 21 July 2020 and a discount […]
