Small Companies Dividend Trust has published its anual accounts for the year ended 30 April 2014. It was a remarkable period for the fund as its net asset value per share rose by 37.9% and its share price by 46.3%. By contrast the MSCI UK Small Cap Index rose by 19.3%. The discount narrowed from […]
NextEnergy Solar Fund has bought a solar plant in Bilsham, Sussex that is being developed by BNRG Renewables. The plant is being built in two phases – one of 12.5MW and another of 2.5MW. NextEnergy Solar Fund will hand over £15m for the plant once it is awarded its preliminary acceptance certificate (expected August 2014). The […]
Burford Capital has released a trading update covering the six month period to the end of June. They say that, since the inception of the fund, 26 investments have generated $173.9 million in gross investment recoveries and $67 million net of invested capital, producing a 63% net return on invested capital. They go o to say […]
LondonMetric Property has a joint venture with Universities Superannuation Scheme called Metric Income Plus Limited Partnership. this joint venture is buying Trostre South Retail Park in Llanelli from Benesco, a charity, for £12.8m, equivalent to a net initial yield of 6.8%. The 75,400 sq ft Tostre South Retail Park is let to B&Q, Pets at Home and KFC […]
Investors in Global Real Estate has announced that it has selected Schroder Property Investment Management Limited as its new manager (starting today!). The portfolio will be run by a new Global Property Securities team established by Schroder consisting of Tom Walker (from AMP where he was Deputy Head of Global Listed Real Estate), Hugo Machin (from AMP where […]
Over the year to the end of March 2014, Oryx International Growth’s net asset value rose by 43.1% – outpacing the FTSE Small Cap Index by some margin (the index returned 17.5%). The main drivers of performance within the quoted portfolio were Essenden (the ten pin bowling company), up 200%; MJ Gleeson, up over 90%; Goals Soccer Centres, up over […]
Duet Real Estate Finance has announced that “loan 13” has been fully realised (because the underlying asset that it was secured against has been sold) and that the return on the investment was “in-line with its investment criteria”. Whilst that statement is not too informative, Duet Real Estate Finance has said that the net effect of […]
Empiric Student Property has made its first acquisition since listing on 30 June. It has announced that it spent £31m on three properties – College Green in Bristol (an 84 bed long leasehold property bought for £9.97m at a net initial yield of 6.4%); Picturehouse Apartments in Exeter (a 102 bed freehold property, pictured, acquired […]
International Public Partnerships has bought 72% of the second phase of Nottingham’s Building Schools for the Future portfolio. They already held 10% of this so this takes their stake to 82%. INPP is buying this form Carillion Private Finance for £2.75m. The project comprises the Farnborough School and Technology College and caters for over 1000 […]
Jupiter Second Split has announced its interim results. Over the six months to the end of April 2014, the value of its portfolio was barely changed – off by 0.1%. As the zero dividend preference share NAV grew, so the net asset value of the geared ordinary shares fell – by 8.3% during this six month […]
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