Merchants Trust refinances debt – The Merchants Trust has today priced an issue of a GBP35 million fixed rate 35 year secured private placement note with a coupon of 2.96%. The funding date, subject to final documentation, will be 18 December 2017, with interest payable semi-annually on 18 December and 18 June (first payment on 18 […]
JPMorgan Global Convertible benefits from discount tightening – JPMorgan Global Convertible Income had a better year over the course of the 12 months ended 30 June 2017. The total return on net assets was +9.2% and shareholders enjoyed an even stronger performance, with a total gain of 19.1% (dividends reinvested). The fund did underperform its […]
John Laing Infrastructure buys five PPP projects – John Laing Infrastructure Fund has signed sale and purchase agreements with respect to the acquisition of a portfolio of five UK PPP projects from John Laing Group plc. The portfolio comprises: An additional 9% indirect interest in the Intercity Express Programme Phase 1 (“IEP Phase 1”) project […]
Small hit to NAV as VPC Speciality Lending sells Avant – In line with the previously stated strategy of reallocating capital from marketplace lending to balance sheet lending, VPC Speciality Lending has announced that it has sold the vast majority of its Avant marketplace loans, excluding the securitisations. The loans sold represented 7.6% of its NAV […]
Electra to hand back another £350m and drop private equity from name – Electra has completed what it termed as “Phase II” of its strategic review. The conclusions are: Continue to focus on optimising return on shareholder capital. No new investment in current market conditions. However, should conditions change the Board will consider further investment. A further special […]
BlackRock Greater European exploring South African listing – BlackRock Greater European says that, during the year to 31 August 2017, its net asset value per share increased by 23.0%, compared with a rise of 26.0% in the World Europe ex UK Index. The share price rose by 22.9% over the same period. The chairman’s statement says that […]
Volta cuts fees after good year – Volta Finance says that, during its financial year ended 31 July 2017, the net asset value per share (dividends re-invested) rose by 13.6%. The share price performance was even stronger, generating a total return of 18.7% as the discount to NAV narrowed. The investment manager has agreed to amend their […]
Hammerson buys Cergy 3 centre in Paris – Hammerson has completed the acquisition of the 11,000 sqm shopping centre, Cergy 3, adjoining its centre Les Trois Fontaines, Cergy Pontoise, Paris for EUR 81 million (GBP72 million) from a private vendor. Les Trois Fontaines is established as the leading shopping destination for the Val d’Oise region […]
Blue Capital Alternative takes 26% hit from catastrophes – Blue Capital Alternative Income has announced its NAV estimate for 30 September 2017. they reckon it was 82.27cents per share, a 26% hit relative to the last published NAV and contributing to a 23.7% loss so far in 2017. The net asset value of the ordinary […]
UK Mortgages dividend uncovered until 2020 – UK Mortgages Limited has announced results for the year from 1 July 2016 to 30 June 2017. The net asset value has fallen from 94.95p to 89.36p as dividends for the year of 6p were paid from revenue of just 0.41p per share with the balance coming from […]
