Augmentum Fintech covid-19 update – the investment management staff are working from home and the tone of the statement is upbeat, based on the premise that these young companies can more easily adapt to the changed circumstances. In fact, they reckon that over 40% of the portfolio may actually benefit. In addition, the company has […]
In QuotedData’s morning briefing 24 March 2020: UK goes into lock down, following a number of other European countries BlackRock Greater European will not hold a tender offer in May 2020, reasoning that the discount was under control ahead of the recent volatility Jupiter US Smaller Companies was beating its benchmark at 31 January 2020 […]
Polar Capital Global Financials deserves a second chance About a month ago, we published an update note on Polar Capital Global Financials (PCFT). This was timed to coincide with its announcement that it hoped to extend its life beyond its planned windup date and, if it could, raise more money. We explained why we thought […]
Alcentra European Floating to wind up – The board of Alcentra European Floating Rate Income Fund says that, following its March 2020 tender offer, it has conducted a comprehensive review of the outlook for the company. This review, conducted in consultation with the investment manager and broker, has been undertaken in tandem with extensive shareholder […]
In QuotedData’s other news 12 March 2020 Markets dive following EU/US travel ban Volta Finance is engaging with the shareholders that voted against the re-election of its directors back in December 2019. 37% of votes were cast against these resolutions. Volta says it is not sure why. Ruffer says its NAVs might be slightly misleading because […]
2019 was a fantastic year for Oakley shareholders – a 25% return on NAV translated into a 56% return to shareholders as the discount narrowed significantly. The underlying portfolio companies generated EBITDA growth of 30% and the earnings growth helped push valuations higher. Two exits were made – WebPros was the major driver – we […]
Primary Health funding new doctor’s surgery in Epsom – Primary Health Properties has contracted with a developer to fund the fitting out of a doctors’ surgery within a modern residential development in the centre of Epsom, Surrey. The company will acquire the long leasehold interest of the property on completion of the work for a total […]
Good year for Witan – Global investment trust, Witan reported a return of 21.3% on its NAV for 2019, 1% ahead of its benchmark. Shareholders did slightly better than that, with returns of 22.1% as the discount narrowed from 1.3% to 0.7%. The dividend was upped by 13.8% to 5.35p (doubling in a decade). Returns […]
Symphony still in tune – Symphony International delivered a 5.8% return on its NAV over 2019 (in US dollar terms). It paid a dividend of 3.5 cents. $90.7m was deployed in new investments. Symphony’s new investments include interests in two established businesses; Indo Trans Logistics, the largest independent integrated logistics company in Vietnam and ASG Hospital, […]
EP Global Opportunities runs for the exit. Responding to the covid-19 outbreak, the manager of EP Global Opportunities had raised its cash level to 18% of the trust at the end of February (up from 8% at the end of January). The managers had this to say “we are finding it very difficult to identify […]
