Fidelity Special Values says its net asset value underperformed the benchmark over the six month reporting period to 29 February 2016, returning -2.7% against -1.2% for the FTSE All-Share Index. The return to shareholders was -3.9%. Alex Wright, the manager, says overall performance was impacted by negative investment surrounding some key holdings in the banking sector, […]
The Board of Phaunos Timber announces the sale of its 14% stake in Green Resources AS for NOK 69.9 million (US$8.5 million at USD:NOK 8.2). The sale is consistent with Phaunos’ strategy of rebalancing its portfolio to one that comprises predominantly higher yielding, lower risk assets. The sale follows the recent distribution received from the […]
Despite a difficult environment Henderson International Income has generated good growth in net assets and increased shareholders’ dividend distributions. During the six months to 29 February 2016 the return on the net asset value per ordinary share (on a total return basis) was 7.8%. The company’s return on the ordinary share price (on the same basis) […]
LondonMetric Property has announced that it has acquired two convenience assets in Matlock and Leicester and a development site in Ipswich for a total cost of GBP16.2 million, reflecting a net initial yield of 7.0%. In Ipswich, LondonMetric has acquired a three acre site from Tesco, where it intends to develop a new 30,000 sq […]
During the year to 29 February 2016, BlackRock Smaller Companies’ net asset value increased by 4.0% to 992.18p per share, compared with its benchmark, the Numis Smaller Companies plus AIM (excluding Investment Companies) Index, which fell by 4.4%. The company’s share price increased by 6.3% to 863.00p per share. Small capitalisation stocks outperformed mid and large […]
Redefine International’s interim statement, covering the six months ended 29 February 2016, saw the EPRA NAV fall by 1.7% to 40.3p. Adjusting for the result of non-recourse negative equity, adjusted NAV of 40.9 pence decreased by 0.8 pence or 1.9 per cent since year-end. The underlying valuation growth of GBP4.8 million in the property portfolio […]
NB Distressed Debt has announced results for the year ended 31 December 2015. NBDD’s NAV per share decreased 10.7% during the year, to $1.1184 from $1.2521 per share, compared to a drop of 8% in the HFRI Distressed/Restructuring Index and a drop of 43% in the defaulted loans segment of the S&P/LSTA Index. Similarly the Extended […]
Subject to prior approval from the Financial Conduct Authority, Scottish Mortgage intends to seek shareholders’ approval, at the Annual General Meeting on 30 June, to amend the company’s investment policy to stipulate that the maximum amount which may be invested in companies not listed on a public market shall not exceed 25 per cent of […]
Randgold Resources’ 89%-owned Tongon gold mine, in Côte d’Ivoire, has commissioned its fourth-stage crushing circuit, completing an extensive capital project designed to improve throughput and recovery. The new circuit is currently being optimised. 2015 gold production at Tongon was 243 koz, up 7% on 2014, and the company is targeting production of 290 koz this […]
Witan Pacific’s results for the year ended 31 January 2016 show it managing to outperform its benchmark, the MSCI All Country Asia Pacific Index, by a little – the NAV return for the fund was -5.6% against -5.9% for the index. Shareholders did better than this though with a return of -3.5% as the discount narrowed […]
