Results for the year to end October 2013. SCIN had a good year, beating both the FTSE All-World Index and the FTSE All-Share (SCIN NAV +28%, SCIN share price +29%, World Index +24%, UK Index +23%). Gearing was positive, adding 1.4% to returns.
In its eighth deal, LBOW lends £13.25m against a London based portfolio of high street retail and residential properties. LBOW now 85.1% invested with an average coupon of 7.28% per annum and an average yield to maturity of 8.29%.
Lowland has published its results for the year ended 30 September 2013 and the fund has had another great year. The total return was 33.3% on the NAV and 37.5% on the share price. they compare themselves to the AIC UK Growth & income sector – this returned 26.4% on average – and the FTSE […]
Atlantis Japan Growth announced its interim results for the six months ended 31 October 2013. In NAV terms AJG outperformed its benchmark, the Topix, returning 5.1% vs. 2.9%. The manager believes the Tokyo market looks good value on a price / earnings and price / book basis. They also note that domestic investors have started buying […]
Brian O’Neill will retire as manager of Henderson Global on 31 January 2014 after 30 years of managing the fund; Brian is one of the longest serving investment managers in the closed-end fund world. He will be replaced by Wouter Volckaert. Wouter only recently joined Henderson; he was a Global equity fund manager at Morgan […]
CTY has borrowed £35m at a fixed rate of 4.53% repayable on 22 January 2029 (via an issue of private placement notes)
Results for the year ended 30 September 2013. RIG’s NAV increased from 34.72p to 35.65p – shareholders total return in NAV terms was 7.2%. The various members of the CQS Group own 68.7% of RIG’s shares between them (CQS Cayman LP made a mandatory offer for RIG’s shares last year). There is a continuation vote […]
Schroder Real Estate buys 244-248D Commercial Road, Portsmouth (a 27,359 sq ft retail parade let to Sportsdirect.com, Mothercare, Tui and the Gold Centre) and for £7.2m. The initial yield on the purchase price is 8.3%.
Interim results for the half year ended 31 October 2013. NAV rose by 12.6%, well ahead of the Dow Jones World Technology Index which returned 8.9% in sterling terms. The fund moved from trading at a discount to trading at a premium to NAV and so the share price return was 17.1% over the period. […]
Interim results for IIP for six months ended 30 September 2013. NAV falls to 63p from 78p. Fall in value of Indian rupee and increase in the Indian risk free rate (used to value investments) unhelpful, Vikram Logistics having difficulty in getting disbursement of approved debt which is holding up construction. Stakeholders in Shree Maheshwar Hydel Power […]
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