Alliance Trust had a good year in 2023, returning 21.6% in NAV terms and 20.2% in share price terms, 6.3 and 4.9 percentage points ahead of the return on the MSCI All Country World Index (MSCI ACWI), respectively. A 5% increase in the annual dividend to 25.2p per share makes this the 57th year of […]
Premier Miton Global Renewables Trust has published its annual report covering the 12 months ended 31 December 2023. In a difficult period for the sector that it operates in, the return on the trust’s assets was -7.5%, which was meaningfully better than the return on the S&P Global Clean Energy Index of -20.1%. Thanks to […]
In QuotedData’s morning briefing 7 March 2024: Aquila Energy Efficiency Trust (AEET / AEEE) says it didn’t receive any definitive proposal from potential buyers that it believes, at this time, could deliver greater value to shareholders than its ongoing managed run-off of the portfolio. It wants to hold back a cash buffer but plans to […]
In our note published 7 February 2024, we wrote “The managers envisage that Klarna could be worth $18bn based on Klarna trading on the same gross profit multiple as closest-listed peer, Affirm. CHRY has a 1% stake. On those figures, a Klarna sale could add about 30p to the NAV.” Unfortunately, there was a drafting […]
HydrogenOne Capital Growth notes that its portfolio company Sunfire GmbH has announced a successful equity funding round, part of a wider funding package totalling more than €500m. The investment adviser believes this is a significant financial milestone for Sunfire, with €215m raised in a Series E equity financing round, further complemented by a term loan […]
RIT Capital says that its NAV total return for the year ended 31 December 2023 was 3.2%. There was quite a big dispersion of returns by asset class within the portfolio. The trust’s quoted equities delivered strong performance, returning +18.1% for the year. Uncorrelated strategies produced solid returns, led by credit positions returning double digits. […]
Triple Point Energy Transition has published a circular convening a meeting to approve its managed wind down proposals. Approval will be sought from Shareholders for: the proposed change to the investment objective and investment policy to facilitate the managed wind-down of the company and orderly realisation of its assets; the conditional disposal by TENT Holdings […]
Apax Global Alpha says that its NAV return for the year ended 31 December 2023 was 4.1%. This is a long way behind the return on the MSCI World Index for the year of almost 20%. The chairman notes that deal activity in private equity was more muted during the first half of 2023, but […]
In QuotedData’s morning briefing 5 March 2024: The shareholder consultation exercise that GCP Asset Backed Income (GABI) was undertaking in connection with its strategic review is complete. Shareholders have expressed a broad range of views. Expect to see an announcement on the way forward in the week beginning 11 March 2024.That could include selling the […]
Polar capital Global Financials Trust says that its NAV total return for the year ended 30 November 2023 was -2.8%. This compares to a return on the MSCI ACWI Financials Index of +0.3%. Unfortunately, investors were hit by a widening of the trust’s discount to 12%, leaving them with a return of -7.5%. The discount […]
