JZ Capital Partners has a history of adapting its investment focus to suit market conditions. The Board has decided to ask shareholders to approve a relaxation of the investment policy for the fund to permit it to shift assets to the regions and sectors that its managers think look most attractive. At present they say that US microcaps […]
Aberforth Geared Income’s interims for the six months ended 31 December show a fall in total assets of 1% over the period which translated (adjusting for the gearing effect of the company’s zero dividend preference shares) into a fall in the ordinary share NAV of 3% – the share price came off 2.3%. By comparison, […]
Henderson Smaller Companies published its interim report yesterday. This covers the six month period that ended on 30 November 2014, a period that saw the Numis Smaller Companies ex Investment Companies Index fall by 4.6% in total return terms. Henderson Smaller Companies did well then to manage a fall of 1.2% in NAV total return and […]
LXB Retail Properties has given more information about one of the disposals it highlighted in its announcement on 18 December. It is selling land earmarked for residential development and a Sainsbury’s foodstore in Sutton for £47.8m and expects to get the first £23m of this in cash by May 2015. The Sutton investments comprise a […]
Alpha Real Trust has been awarded the equivalent of £9.2m by the International Chamber of Commerce in its dispute with its joint venture partner, Logix Group, over Galaxia – the development that they were supposed to be working on together in an 11.2 acre Special Economic Zone, in NOIDA, the National Capital Region, India. The […]
Tritax Big Box REIT is investing £98.8m to build a new distribution warehouse facility for Ocado. The facility will be located inside the M25 at Crossdox, Bronze Age Way, Erith, on the south side of the River Thames and A2016, with Central London approximately 12 miles to the West and Tilbury Docks and DP World […]
Chenavari Capital Solutions has announced results for the period from its incorporation on 12 July 2013 to the end of September 2014. Its net asset value rose by 4% compared to its value after issue expenses and they paid dividends totalling 5.25p (they were aiming for 5p). The net asset value at the end of […]
Redefine International has announced that it has bought 56 German retail properties in a 50/50 joint venture with Redefine Properties Limited (Redefine International’s largest shareholder). The whole portfolio is valued at €157m which equates to an initial yield of 7.5%. The portfolio comes with €100m of bank debt, they expect to refinance this shortly (approximately […]
Aberforth Smaller Companies reported a 0.7% fall in its asset value on a total return basis over 2014, better than the -1.9% return generated by the Numis Smaller Companies excluding Investment Companies Index. The return to shareholders over the period was 0.1%. the final dividend was 17p, making a total of 24.75p for the year, an […]
Diverse Income Trust interim results for the six months ended 30 November 2014 show the fund generating a return on net assets of -3.2% and a return to shareholders of -1.9%. the first half dividend rose from 0.8p to 0.9p. The fund is skewed towards smaller companies relative to the FTSE All-Share Index and this accounts […]
