Happy New Year to our readers. In QuotedData’s morning briefing 3 January 2023: Tufton Oceanic Assets (SHIP) has agreed to sell its last containership, the Riposte, for $13.0m (about equal to its depreciated replacement cost), following which its fleet will consist of twenty-two vessels. The realised net IRR on the Riposte exceeds 12%. In aggregate, the […]
In QuotedData’s morning briefing 29 December 2022: PRS REIT (PRSR) has secured a short-term extension to its £150m revolving credit facility with Lloyds / RBS, which matures in February 2023. The extension has been secured for the period to 14 July 2023 at the same margin above the three-month SONIA rate as the existing arrangements. […]
In QuotedData’s morning briefing 28 December 2022: Literacy Capital (BOOK) has completed the sale of its entire interest in Hometree, generating £3.8m for the trust. This represents a 1.3x return on BOOK’s investment. The cash was used to pay down borrowings and will be recycled in new investments in due course. Richard Pindar, director of […]
This time last year we highlighted climbing inflation and interest rates as issues overhanging markets. However, those headwinds were much stronger than we had anticipated thanks to Russia’s invasion of Ukraine. Given that backdrop, it was perhaps inevitable that markets would struggle in 2022. There were a few bright spots – Latin America and the […]
Continuation Vote The Ground Rents Income board is required to convene a general meeting no later than 13 August 2023 at which it must table a proposal for shareholders to vote on a resolution for a voluntary wind-up and subsequent liquidation of the company. The vote is structured in such a way that if any […]
VPC Specialty Lending Investments has been reviewing options for tackling its persistent wide discount. Having taken professional advice and after consulting the major shareholders, the board thinks it is likely that there will be a 25% exit opportunity following the AGM in 2023. However, it does not believe that the exit opportunity alone would have […]
Over the 12 months ended 30 September 2022, JPMorgan Indian Investment Trust generated a return on NAV of 6.3% and a return to shareholders of 0.6%, lagging the 8.8% return on the MSCI India Index. The trust has not been geared into the rising market and has not renewed its borrowing facilities. In an effort […]
In QuotedData’s morning briefing 22 December 2022: Temple Bar (TMPL) has appointed Frostrow as its AIFM (with effect from 1 July 2023). Redwheel will continue to manage the assets of the trust, but Frostrow will take on responsibility for marketing and distribution. Palace Capital (PCA) has sold £7.6m of property since 30 September 2022, reducing […]
Aquila Energy Efficiency Trust says that its commitments to investments were £87.3m as at 19 December 2022, up from £55.5m at 31 August 2022. Total income-generating, deployed capital has increased to £54.4m (31 August 2022: £32.1m). The company is expected to achieve an average gross unlevered project yield of 8.0% over all investments made to […]
Over the 12 months ended 30 September 2022, Ecofin Global Utilities and Infrastructure produced an NAV total return of 12.5% and a share price total return of 14.0%. This significantly outperformed the total return of global equities, measured by the MSCI World Index, which was -2.4% in sterling terms. The MSCI World Utilities Index and […]
