Downing Renewables and Infrastructure generated a positive NAV total return of 3.5% over 2023, the flatter figure for 2023 reflecting more normal power prices. In common with other renewables companies, the discount widened over the year; the share price fell to 90p from 113.5p and now stands at 75.2p, a 36.1% discount to the end […]
In QuotedData’s morning briefing 11 April 2024: Onward Opportunities (ONWD) says its NAV total return from IPO on 30 March 2023 to end December 2023 was 11.3%. This compares to a 3.7% fall in the value of the UK AIM All Share index. The company trades at a premium and raised more money last month, […]
Third Point Investors (TPOU) has announced further details of its previously announced redemption offer, which was triggered because the average discount over the six months ended 31 March 2024 was over 10%. The 2024 offer is for up to 25% of the company’s issued share capital. The redemption price is the NAV on or around […]
Merchants Trust’s results for the 12 months ended 31 January 2024 show the trust lagging the +1.9% return posted by the All-Share Index, with NAV returns of -3.1% for the year. The statement makes no mention of the return to shareholders over the period, but does note that the shares traded at a premium to […]
Schiehallion says that over the year to 31 January 2024, the NAV returned negative 0.9% and share price returned negative 22.3%. The share price discount to NAV widened from 23% to 40% as sentiment remained against growth stocks and private company investments. The net revenue return was negative and there will be no dividend. From […]
Over the 12 months ended 31 January 2024, Dunedin Income Growth generated an NAV return of 6.7%, well ahead of the 1.9% return posted by the All-Share Index and other UK equity income trusts. However, a widening discount (finishing the year at 10.7%) left investors with a return of -1.6%. The dividend was increased by […]
Invesco Bond Income Plus delieved an NAV return of 11.7% over 2023 and a 10.5% return to shareholders. The 11.7% NAV return was slightly below the 13.8% achieved by the ICE Bank of America Merrill Lynch European High Yield Index. Dividends totalled 11.5p (up marginally from 2022’s 11.25p) and these were covered by earnings of […]
Temple Bar posted a decent set of results for 2023. NAV and shareholder returns were 12.3% and 12.5% respectively, both well-ahead of the 7.9% return generated by the All-Share Index. The dividend grew by 2.7% to 9.6p. This was not quite covered by earnings, which were 9.3p, but the company still has over £12m of […]
In QuotedData’s morning briefing 4 April 2024: Manulife’s acquisition of CQS is now complete. There are no planned changes to the management teams of Golden Prospect (GPM), Geiger Counter (GCL), CQS New City High Yield (NCYF), and CQS Natural Resources Growth & Income (CYN). The manager’s business will be rebranded as Manulife | CQS Investment […]
Since February, two institutional shareholders, who were supportive of Downing Strategic’s managed wind-down, and who had voted in favour of adopting that investment policy, sold their holdings to Milkwood, an investor opposed to the managed wind-down. Milkwood now has a 28% stake in the company. Downing Strategic was planning to return cash to shareholders via […]
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