Invesco Income Growth’s Board has negotiated a change to the management fee. With effect from 1 April 2015, the fee will be 0.65% on the first £150m of market capitalisation and 0.55% above this level. The fee was 0.7% up to £100m, 0.6% on the next £50m and 0.55% on the next £50m and was based on funds […]
Dunedin Enterprise has reported a -0.4% total return on net assets for the year ended 31 December 2014. However the share price fell as the fund’s discount widened and the return to shareholders was -15.8%. The discount stood at 33% when they published these figures. They are paying a final dividend of 4.7p. The fund […]
Better Capital has the acquisition of the entire issued share capital of CAV Aerospace Limited from an overseas holding company. CAV is a specialist aerospace manufacturing business, which supplies complex metallic components and sub-assemblies to several major original equipment manufacturers including Airbus, Embraer and Gulfstream. The company operates from seven sites – four in the […]
JPMorgan US Smaller Companies published their results for the year ended 31 December 2014 yesterday. These show that the fund outperformed its benchmark, the Russell 2000 Index as the net asset value rose by 12.8% against 11.1% for the Index. Unfortunately however the discount widened out, leaving the return to shareholders at 5.6%. In the […]
Fundsmith Emerging Equities has published its inaugural results that cover the period from its incorporation on 31 October 2013 to 31 December 2014. The fund didn’t really get going until June 2014 however – it listed on 25 June 2014. Over the period the fund underperformed its benchmark, the MSCI Emerging and Frontier Markets Index, by 0.8% […]
2014 was not a great year for BlackRock World Mining. The net asset value total return fell by 26.4% and the share price fell by 30.4% both of which do not compare well to a fall in the Euromoney Global Mining Index of 13.0%. The larger fall in the share price reflects a widening of their […]
International Public Partnerships has followed up its investment in schools in the North East with a £10.2m investment in the Amber schools project which covers schools in Hertfordshire, Luton and Reading. The project will support the development of seven secondary schools on existing sites. Total capital expenditure on the schools in this batch is £144 […]
Kubera Cross Border’s asset value fell from 54 cents to 52 cents over the course of 2014 and its share price fell 16% to 26 cents over the same period as the discount widened to 50%. this is an extremely disappointing result in the context of the revival of India’s fortunes and the amazing year […]
Alliance Trust has published its rejection of Elliott’s proposals. for the sake of completeness we have reproduced the entire statement below but the thrust of it is that Elliott’s nominees wouldn’t be independent, would have a short-term agenda, might initiate moves that could threaten the dividend and the jobs of 250 Alliance Trust employees. They […]
India Capital Growth’s net asset value rose by 50.3% over the course of 2014, an impressive result but unfortunately quite a bit less than the company’s benchmark, the BSE Mid Cap Index, which returned 63.2%. The MSCI India index returned 28.75 over the same period. The Chairman makes the point that the BSE Index contains a number of […]
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