Today’s announcement from Target Healthcare REIT covers the period from its incorporation on 22 January 2013 to 31 December 2013. THRL’s net asset value finished the year at 95.9p; the share price then was 105p. Target owned ten care homes at the end of December and more acquisitions are planned or in progress. The initial […]
Ruffer failed to meet its objective of producing an absolute return of at least twice the Bank of England base rate in the second half of 2013 as its net asset value total return was -0.55% over the period. The report points to the strength of sterling, especially against the US dollar, as one factor behind this.
From the company’s launch on 11 June 2013 to the end of December 2013 the total return on net assets was 5.8% and shareholders have had a total return of 7%. An initial dividend of 2.25p has been declared (the target for the full year is 4.5p).
Jupiter Primadona’s interims covering the six months ended 31 December 2013 reveal that its net asset value rose by 10.3%, outperforming the FTSE All-Share which rose by 9.7%. The shares rose by 16.4% as the discount narrowed to less than 3% (shareholders will hope that the discount stays narrow following JPG’s earlier announcement). The manager’s […]
Pantheon International’s net asset value fell by 2.1% over the latter half of 2013 as Sterling strength offset a 5.7% positive underlying return on the fund’s investments. The share price slipped a little (by 1.3%). The portfolio threw off £93m of cash and Pantheon reinvested £79m of this
Candover’s net asset value rose by 18% to 715p over 2013. The fund’s holding in oilfield services company, Expro International, contributed most to this as its value was written up by £41m. This was offset to some extent by a £14.7m writedown in the value of Stork – which Candover are in the process of splitting […]
Intu Properties (which used to be known as Capital Shopping Centres) saw its earnings per share fall from 16.1p to 15p in 2013 as a number of tenants entered administration. Property valuations increased by 1.8%, however its net asset value fell from 392p to 380p . Intu has a £1.2bn, 2.6m sq ft, development pipeline £0.7bn of […]
The second half of 2013 was not kind to City Natural Resources whose net asset value fell by 6.7% while its benchmark delivered a positive 3.1% return. CVYN’s discount widened and the share price total return was -8.3%. The managers’ report does not mention any stock specific reasons for the poor performance
Standard Life UK Smaller Companies interim report covering the second half of 2013 shows the fund underperforming its benchmark by some margin (NAV total return 17.6% vs. Numis Smaller Companies ex Investment Companies return of 21.0%). The share price did better than the NAV, returning 19.6%. The manager’s report ascribes the underperformance to lack of […]
Bluefield Solar Income’s first set of figures, covering the period from 29 May to 31 December 2013, has been released. Its net asset value at the end of December 2013 was 97.3p. It declared its first dividend of 2p per share on 19 February 2014 and the statement says it is on track to pay the […]
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