WPCT sees small decline in Jan NAV but greater share price fall Struggling Neil Woodford-managed Woodford Patient Capital Trust (WPCT) reported a small, ~0.6% decline in NAV in January, but has since seen a larger 11% decline in share price this month as investors have become increasingly concerned about its poor long-term performance and outlook. The decline […]
Greencoat Renewables buys Lisdowney wind farm – Greencoat Renewables has announced the acquisition of Lisdowney, a 9.2MW wind farm situated in County Kilkenny, for a total consideration of EUR22.5 million. Lisdowney wind farm consists of four Enercon E82 turbines. The wind farm was commissioned in November 2016 and its revenues are contracted under the REFIT […]
Temple Bar says value style still holding it back – Over the course of 2017, the total return on the net assets of Temple Bar was 9.7%, underperforming the total return of the All Share Index of 13.1%. Three interim dividends of 8.33p and a final dividend payment of 17.48p per share give an increase in the total dividend […]
Biotech Growth notches up small rise in Jan, but outlook for Feb is weaker Orbimed-managed Biotech Growth Trust (BIOG) notched up a broadly in-line performance in the otherwise strong month of January, despite seeing a major setback for one of its top 10 holdings. However, its outlook for February is looking weaker, an analysis by Marten […]
Baker Steel Resources sells Prognoz Silver Mine – Baker Steel Resources Trust says that its largest investment, Polar Acquisition Limited has agreed to sell its 90% interest in Polar Silver Resources Limited to Polymetal International plc for US$72 million (to be satisfied in Polymetal shares). In January 2017, Polar sold a 10% stake in its subsidiary […]
Riverstone Energy sells Three Rivers III – Riverstone Holdings LLC, the Manager of Riverstone Energy Limited, has announced that it has agreed to the sale of 100% of the assets in Three Rivers Operating Company III LLC, an Austin, Texas-based oil and gas company focused on the Permian Basin. Riverstone formed Three Rivers III in […]
Ground Rents fund reinstates its double or inflation offer – On 21 December, the Government announced new measures in response to its leasehold market consultation. It proposed to introduce legislation to prohibit new-build leasehold houses and to set future residential ground rents to zero. It is also to consider introducing a ‘prescribed formula’ that would […]
HBM Healthcare reaps $28m profit on sale of TandemLife stake Swiss-listed HBM Healthcare Investments (HBMN.S) should realise an profit of at least $27.6m on the sale of its holding in the med-tech company TandemLife, as a result of the company’s acquisition by Livanova. HBM Healthcare holds a 16.6% stake in TandemLife, which is carried on […]
Primary Healthcare Properties delivers 10.5% NAV uplift – Primary Healthcare Properties (PHP) has published its results for the year ended 31 December 2017. Highlights were: EPRA earnings increased by 15.7% to GBP31.0m (2016: GBP26.8m) EPRA earnings per share increased by 8.3% to 5.2p (2016: 4.8p) Net rental income increased by 7.1% to GBP71.3m (2016: GBP66.6m) IFRS […]
JPMorgan Convertible manager exits – JPMorgan Global Convertibles Income Fund Limited has announced that Antony Vallee, one of the company’s fund managers, has decided to leave J.P. Morgan Asset Management to pursue other opportunities. The existing investment management team, led by Natalia Bucci and Robin Dunmall will be augmented by the addition of Paul Levene. […]
