F&C Investment Trust reports an NAV return for 2022 of -5.3% and a return to shareholders of -0.9%. The trust benchmarks itself to the FTSE All World Index which it says returned -7.7%. The trust moved into the FTSE100 Index during the year. The full-year dividend was 13.5p, 5.5% higher than the previous year and […]
Digital9 Infrastructure says it delivered an NAV return of 10.4% over 2022. The results statement notes the fall in its share price – blaming market volatility, the mini budget and the walkout of the investment management team in November 2022. The shares went from an 8.1% premium at the start of 2022 to a 21% […]
While returns were negative in 2022, Alliance Trust did beat its benchmark (MSCI All Countries World Index) over the course of the year, returning -7.1% in NAV terms as compared to -8.1% for the index. Shareholders did even better as the discount narrowed, the return to shareholders was -5.8%. The trust also points out that […]
In QuotedData’s morning briefing 9 March 2023: US Solar Fund (USF) says its board and its advisers have engaged with a significant number of parties and, following receipt of indicative proposals, have shortlisted several parties who have proceeded to the next phase of its strategic review process. In order to provide the shortlisted parties with […]
The board of MIGO Opportunities Trust has announced that it has served a six-month protective notice to Premier Miton Investors on its investment management agreement. This was triggered by news that Nick Greenwood, the lead portfolio manager, has resigned from Premier Miton. The board says that Nick will continue to be available to manage the […]
AssetCo Plc, the asset manager founded and chaired by Martin Gilbert, has agreed to acquire Ocean Dial Asset Management Limited, investment manager to India Capital Growth. The deal is subject to regulatory approvals from the Financial Conduct Authority in the UK, the Securities Exchange Board of India and the Reserve Bank of India. Ocean Dial […]
The chart below shows how the median discount of share price to net asset value (NAV) across the whole London-listed investment companies market has moved since the start of 2021. What we see is a big lurch downwards around the outbreak of the war in Ukraine. Then a steady widening over the next few months […]
Pantheon Infrastructure has published its first set of results, covering the period from its IPO in November 2021 up to the end of 2022. Having raised its maximum target of £400m, and having seen that boosted by the exercise of its subscription shares (which brought in an additional £80.8m) the trust has been busy deploying […]
Apax Global Alpha delievered a total return of -7.4% over 2022, driven by a -11.3% return on its private equity portfolio, offset by a +1.9% return on its portfolio of derived investments (see our notes on the company for an explanation of what this entails). [Strangely, the chairman’s statement makes no reference to the trust’s […]
Downing Renewables & Infrastructure Trust has bought two hydropower plants for a total of €5.8m. The two operational hydropower plants are located in Sweden’s SE2 electricity region. The deals are being funded through Downing’s available cash reserves. The first acquisition, completed in February 2023, is a c. 2.5 GWh hydropower plant in Högforsen, on the […]
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