Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top story: • JPMorgan Mid cap/JPMorgan Smaller Companies This week’s interview was with Joe Bauernfreund from AVI Global Trust. – watch it again here.
The Association of Investment Companies has issued a press release this morning in which it welcomes Baroness Ros Altmann’s intervention in the debate about the disclosure of investment company costs with the aim of removing investment companies from the scope of the Alternative Investment Fund Managers Directive (AIFMD). This is great news, we think. In […]
Foresight Solar has sold a 50% stake in its Lorca portfolio in Spain to a specialist Luxembourg-based fund advised by EB-Sustainable Investment Management (EB-SIM), a subsidiary of Evangelische Bank for €26.9m. That price represents a 21% premium to their third quarter holding value and an exit IRR of 12.1% on funds invested to date in […]
In QuotedData’s morning briefing 16 November 2023: Bluefield Solar (BSIF) reports that its NAV fell by 3.3p over the third quarter of 2023. The main contributing factors to this were slight underperformance in generation during the quarter, due to lower than expected irradiation, and advanced quarterly payments connected to corporation tax and the Electricity Generator […]
The board of European Opportunities Trust says that it welcomes the passing of all resolutions, while acknowledging that significant votes, ranging between 15% and 25% of the issued share capital, were cast against the directors’ remuneration policy, the directors’ remuneration report, the re-elections of directors and the company’s continuation as an investment trust. Much of […]
If you read my QD view from 27 October, you’ll be aware of the efforts that are going on to improve the way that costs are disclosed and stem the tide of money leaving the investment companies sector, helping to address its current discount problem. Encouragingly, politicians seem to be grasping the nettle here. On […]
Foresight Sustainable Forestry has updated on progress over the six months ended 30 September 2023. The board says that it is disappointed to see the share price trade at a discount to NAV. Together with the investment manager it says that it is: Reviewing planting and harvesting timetables to optimise cash flows. Advancing non-core asset […]
Schroder Oriental Income Fund has published its annual report and accounts for the year ended 31 August 2023. The trust’s NAV total return for the full financial year was -3.5%, with a similar return from the share price. This did represent outperformance of the benchmark index, the MSCI AC Pacific ex Japan in sterling terms, […]
Schroders Capital Global Innovation Trust has made an investment of $8.0m in an India-based vendor digitisation company, Bizongo. This investment formed part of the company’s $50.0m Series E funding round that was led by Schroders Capital with participation from other investors including IFC, BCap, Chiratae Ventures, and British International Investment. What is vendor digitisation? I […]
The board and manager of Downing Strategic Micro-Cap have decided that, with the continuing negative sentiment towards smaller companies and small investment trusts, it is timely to begin a managed wind-down of the company, with the intention to make the first return to shareholders of at least 20% of capital in early 2024. This will […]
