Cordiant Digital Infrastructure generated a total return of 10.0% over the 12 months ended 31 March 2023. The total dividend for the period increased to 4.0p, in line with guidance. This was 3.4x covered by earnings and 1.5x covered by adjusted funds from operations. [These are quite respectable numbers for a fund that investors appear […]
The Global Smaller Companies Trust moved more or less in line with its benchmark over the 12 months ended 30 April 2023, returning -2.9% to the benchmark’s -2.1%. The benchmark changed on 1 May 2023 but for the period under review it was 30% Numis UK Smaller Companies (ex investment companies) and 70% MSCI All […]
Rockwood Strategic’s results for the year ended 31 March 2023 encompass its very strong run of performance last year. Over the period, the trust generated an NAV total return of 21.4%, which compares to a 15.7% fall in its FTSE Small Cap (ex-ITs) benchmark. Shareholders got a return of 28.2% as the discount narrowed. There […]
In QuotedData’s morning briefing 22 June 2023: Augmentum Fintech (AUGM) has made a further £5.4m investment into Volt, the real-time payments infrastructure company, as part of Volt’s $60m Series B funding round. The new round implies a value for Augmentum’s existing stake of £17.8m (up £11.4m on the unaudited carrying value as at 30 September […]
abrdn Diversified Income and Growth’s board has announced that it has commenced a strategic review. The obvious problems that the trust faces are its discount, which was about 26% last night ahead of this announcement, and its shrinking market cap, which at £255m is not a bad size but the board feels limits the scope […]
The UK’s first operating deep geothermal heating plant since 1986 was opened today at the Eden Project in Cornwall and is now generating heat. A 3.3 mile long shaft has been drilled into the Earth’s crust (making it the longest geothermal well in the UK). A 4000m vacuum insulated tube has been inserted into the […]
Custodian Property Income REIT has published results for the year ended 31 March 2023. Its NAV (or net tangible assets, NTA in this sector) fell to 99.3p from 119.7p, contributing to an NAV total return of -12.5%. The NAV fall reflects a £91.6m writedown in the value of the portfolio, reversing gains of £94m recognised […]
Biotech Growth has reported results for the 12 months ended 31 March 2023 and they aren’t good. The NAV total return for the year was -11.0%, a whopping 16.4 percentage points behind the +5.4% return on the NASDAQ Biotechnology Index. The return to shareholders was -12.8%. The chairman’s statement attributes the underperformance to investors’ preference […]
Syncona’s results for the 12 months ended 31 March 2023 are lacklustre. The company reports an NAV total return of -4.1% for the period, which follows on from an equally disappointing figure last year. The share price has fallen by about 7.6% and is currently back at levels seen in 2017. In the face of […]
JLEN Environmental Assets Group has published results for the year ended 31 March 2023. The share price rose from 112.8p to 119.6p, shareholders have now more or less doubled their money since IPO. Shareholders will be able to hear from the managers and ask questions at a special online event to be held next Wednesday […]
