BlackRock World Mining suffered in 2013 as commodities fell out of favour. the net asset value fell by 27.2% over the year (-24.6% including reinvested income). The share price did better, falling by 20.7% (-17.5% total return) as the discount contracted. The Euromoney Global Mining Index fell by 24.1%.
JP Morgan Overseas figures for the second half of 2013 show a total return on the NAV of 8.8%. The discount narrowed so the total return on the share price was 9.7%. The fund outperformed its benchmark, the MSCI All Countries World Index which returned 6.0%. the manager says a return to favour for cyclical […]
Utilico Investments figures for the six months ended 31 December 2013 show an uplift of 4.1% in its NAV, behind the return on the FTSE All-Share (+11.4%). Utilico say the main problem was adverse movements in exchange rates – this cost them 10.9%. Revenue fell too but UTL reckon they are comfortable paying an uncovered […]
Shareholders in JP Morgan Mid Cap were rewarded with a 30.5% total return over the second half of 2013 at the fund outperformed its benchmark index (the FTSDE Mid 250), delivering a 19.0% return vs. 18.3% for the index, and its discount narrowed significantly
Hirco is cancelling its AIM admission – in other words its shares will no longer be traded on AIM. The shares have ben suspended for some time as Hirco felt unable to publish its accounts as it struggled to get useful information about the value and status of its investments. The Hirco story is a long […]
Globalworth Real Estate has bought Tower Center International – the second tallest building in Bucharest with 24,711 sqm of space over 26 floors. The €58m cost is being settled in part through the issue of new shares – the terms of the deal were outlined in Globalworth Real estate’s prospectus released in September 2013
City of London has released figures for the six months ended 31 December 2013. Over that period the total return on City of London’s net asset value was 23.8% – well ahead of the equivalent return on the FTSE All-Share Index of 17.9% but 2.2% behind the average UK Growth & Income Investment Trust. CTY’s […]
Over the second half of 2013 Altus Resource Capital’s net asset value rose by 1.3%. This improvement in the asset value was achieved despite a fall in the gold price of 2.3% over the period and falls in the FTSE Gold Mines Index and S&P TSX Gold Index of 8.6% and 2.9% respectively.
Bluefield Solar is buying its ninth solar plant, a 19MW facility north of Swindon. The plant will cost £21m and will be connected to the grid in March. It is eligible for government subsidy (qualifying for 1.6 renewable obligation certificates). BSIF cash £14m of cash so to fund the balance of the deal it needs […]
Figures announced for the six months ended 31 December 2013 disclose a fall in earnings per share for the period (from 11.4p to 10.4p) but an uplift in Mucklow’s EPRA NAV from 305p to 317p. Net debt rose slightly but not enough to shift the gearing ratio from its level of 41%. The vacancy rate […]
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