Japan Residential Investment Company is buying seven residential apartment buildings for YEN9.4bn (£55.3m) at a small discount to a recent valuation. In all the properties contain 419 units and 15,077 sqm of leasable space and are expected to generate a yield of 5.2%
F&C UK Real Estate generated a total return to shareholders of 18.9% over the second half of 2013. The net asset value total return for the period was 11.0%, driven by a 6.6% increase in property values, and a rising premium made up the rest. Voids have risen a little but FRCE believes the letting market is good. […]
Alternative Asset Opportunities (which used to be known as US Traded Life Interests Fund) saw its net asset value fall from 48.5p to 45.9p over the six months ended 31 December 2013. The fall was largely the result of adverse exchange rate movements. The Board say that policy maturities during this period have been sufficient […]
Henderson Opportunities Trust has released its results for the year ended 31 October 2013. The fund did very well, generating a total net asset value return of 47.1% – more than twice the 22.8% return on the FTSE All-Share Index. The total return to shareholders was 71.0%. The report details the largest contributors to this […]
Sherborne Investors (Guernsey) B Limited has an interest of 10.2% in Electra – about half in ordinary shares and the rest through total return swaps. Although Sherborne, run by Edward Bramson (pictured) and known as activists, have acknowledged the stake they haven’t said what their agenda is in taking the stake.
Macau Property Opportunities adjusted net asset value rose by 25.5% to $4.95 over the second half of 2013 as the valuation of its property portfolio increased by 24.7%. The disposal of the company’s Zuhai assets (announced recently) has added to the NAV since the year end. Shareholders did even better as MPO’s discount narrowed rom […]
Cambria Africa has just released its results for the year ended 31 August 2013 – ancient history really. Cambria Africa now holds just two core assets, Payserve Africa and Milchem Holdings and is selling off its remaining holdings – diversifying its focus away from Zimbabwe. Over the year it lost $5m on continuing operations and […]
JP Morgan Private Equity’s net asset value rose by 2.8% over the second half of 2013. The share price rose by 0.2% so the discount widened a little over the period. NAV gains were derived in part from disposals – JPEL received $41.5m and invested $3.3m during the six months. Since the start of 2014 […]
Subject to the outcome of an EGM to be held on Thursday 29 May 2014, Prosperity Voskhod intends to delist its shares. PVF has been selling off its portfolio and returning cash to shareholders.
The Investment Company, managed by Gervais Williams and Martin Turner at Miton and invested in a range of preference shares, loan stocks, debentures and notes, saw a 15,5% increase in its net asset value and a 16.0% increase in its share price over the second half of 2013. Two dividends of 5p per share were declared […]
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