Global Resources Investment Trust has published its first set of accounts. these cover the period from launch to the end of August 2014. Over that period the net asset value fell by 28.5% and the share price fell by 66% to 34p. Since then the falls have worsened so that, at the date of producing […]
Starwood European Real Estate Finance, alongside other Starwood funds, made a £220m loan to Almacantar, a property investment and development company specialising in London. They now plan to increase the size of this loan to £265m with this fund providing £5m of this. Almacantar plan to use this to fund the refurbishment of Centre Point, […]
Majedie Investments final results for the year ended 30 September 2014 show the fund’s net asset value returning 10.8%. The dividend was cut from 10.5p to 7.5p. However the fund’s discount narrowed from 28.4% to 5.3% over the year and so the return to shareholders was much higher at 49.7% as the share price rose […]
Over the six months that ended on 31 October 2014, Polar Capital Technology beat the Dow Jones World Technology Index by 2.4% in a strong period for the sector – the Index was up 16.3% in sterling terms and the NAV up 18.7%. The share price rose by 19.2%. The manager says the most significant positive […]
Balfour Beatty has responded to the approach that John Laing Infrastructure Fund made for Balfour Beatty’s infrastructure assets. Balfour says the mooted £1bn price tag undervalues these assets – the Board “concluded that the proposal falls significantly short of its own view of the value of the portfolio” and therefore it has rejected the proposal. The […]
Altus Resource Gold held its AGM yesterday. the resolution that it continue as an investment company was rejected by shareholders 14.9m voting against to 13.4m voting for. The directors now have four months to come up with a plan for the future of the company which may result in it being liquidated. ARCL : Altus […]
JPMorgan Chinese has published its results covering the year to the end of September 2014. Over this period the return on net assets was 7.8% – 1% more than the return on the MSCI Golden Dragon Index. the fund’s rating improved and so the return to shareholders was 12% – this includes a 1.6p dividend […]
GRIO : Ground Rents Income has a plan to get fully invested Ground Rents Income Fund has announced results for the year ended 30 September 2014. Its net asset value rose from 97.2p to 104.3p over the period, in response to demand for the underlying assets driving up their values. They say “the ground rents […]
MNKS : Monks too light in US Monks has published its interim results covering the six month period to the end of October 2014. Over this time the fund generated a return on net assets of 4.9% and a return to shareholders of 5.3% – lagging the return on the FTSE World Index of 8.0% […]
NRR : NewRiver raising £75m to buy out joint venture partner NewRiver Retail is raising £75m via a placing of new shares to fund the acquisition of the 90% stake it doesn’t already own in the “NewRiver Retail Property Unit Trust” – the cost of which will be £71m. The underlying property portfolio comprises five shopping centres and […]
