Big getting bigger One of the dominant, and for most investment managers highly frustrating, trends of recent times has been the strength of the mega caps. It was really evident in the UK last year, where a handful of large stocks drove indices higher and, if you were underweight those, as most active managers would […]
Syncona has announced that its portfolio company Quell Therapeutics has signed a collaboration agreement with AstraZeneca to develop, manufacture and commercialise autologous, engineered Treg cell therapies for two autoimmune disease indications. Under the agreement, Quell’s proprietary toolbox of Treg cell engineering modules, including its Foxp3 Phenotype Lock, will be used to develop autologous multi-modular Treg […]
STS Global Income & Growth Trust (formerly Securities Trust of Scotland) has announced results for the year ended 31 March 2023. Unfortunately the trust underperformed, the NAV return for the year was -1.8%, and the share price total return was -4.8%, compared to a total return of +0.5% in the Lipper Global – Equity Global […]
Fidelity China Special Situations reports that, for the 12 months ended 31 March 2023, its NAV total return was 2.6%, just ahead of MSCI China, which returned 1.4%. The return to shareholders was 0.3%, as the discount widened to 9.7% at the end of the year compared to 7.5% last year. The dividend was increased […]
In QuotedData’s morning briefing 8 June 2023: Pershing Square (PSH) plans to buy back an additional $100m worth of its shares. Since March 2017, when its buybacks started, it has repurchased over 60m shares at a cost of $1.14bn. BioPharma Credit (BPCR) has agreed amended terms with its borrower LumiraDx. We discussed the problems that […]
The following comes from a press release that AJOT published this morning and relates to an earlier story. As announced in a press release dated 18 May, Asset Value Investors Limited (“AVI”) has submitted a shareholder proposal to NC Holdings (TSE: 6236, “Company”) to contribute to the best interests of shareholders. However, the Board of […]
Investment Week has a story this morning – ‘The circle is collapsing’: How a demolished house in Lancashire uncovered Home REIT’s broken business model – that details some frankly astonishing due diligence failings at Home REIT. You may have to register to read the article but here is a link to it. [I have been […]
AVI Global Trust’s half-year figures (covering the six months ended 31 March 2023) were unfortunately dented by March’s nervous markets. At the end of February 2023, the trust was running about 1% ahead of its MSCI AC World ex US benchmark, but by the end of March it was 5% behind. The NAV return for […]
Cordiant Digital Infrastructure says that its portfolio company, Emitel S.A. has bought American Tower Corporation’s subsidiary in Poland, ATC Polska. ATC Polska’s portfolio will comprise of 65 modern lattice towers which are leased to leading mobile network operator (MNO) tenants via inflation-linked contracts with long tenors (average 14 years remaining on tenant lease agreements). The […]
CT UK High Income Trust says that for the year ended 31 March 2023 it generated an NAV return of -0.4%, underperforming its All-Share benchmark which returned +2.9%. The return to ordinary shareholders was +0.6% and to B shareholders +2.3%. Total dividends increased by 1.1% to 5.51p, representing the tenth consecutive year of dividend/capital repayment […]
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