Generally, Invesco Select Trust’s various asset class portfolios had a mixed financial year to end May 2022. The global equity income portfolio beat its benchmark, returning 9.6% in NAV terms relative to 7.4% for the MSCI World Index. However its share price return was 4.4%, reflecting a widening discount. The UK equity portfolio, which returned […]
Schroder British Opportunities Trust has made an additional investment into Cera Care, Europe’s largest provider of digital-first home healthcare. Cera has raised $320m (~£260m) in equity and debt to expand from servicing 15,000 to 100,000 at-home patients each day. One very welcome effect of this should be to free up NHS beds and boost the […]
Pantheon International’s results for its financial year ended 31 May 2022 are very good. The NAV total return for the period was 31.0%, well ahead of the 7.8% return posted by the MSCI World Index. However, discount widening left shareholders with a return of 8.6%. The trust’s returns were boosted by weak sterling. However, even […]
Henderson Smaller Companies has published results for the 12 month period ending 31 May 2022. The trust underperformed its benchmark over the year, delivering an NAV total return of -17.8% against -9.5% for the Numis Smaller Companies Index (ex Investment Companies). A widening of the discount left shareholders with a return of -27.0%. On the […]
In QuotedData’s morning briefing 4 August 2022: JLEN Environmental Assets says that its end June NAV was 123.1p, up 7.8p from 31 March. The drivers of this were higher fixed prices (+1.2p), higher seasonal forward pricing (+1.5p), and changes to long term forecasts from independent consultants (+5.8p). Our assumption would be that these uplifts reflect […]
Invesco Asia has published results for the 12 months ended 30 April 2022. The trust beat its benchmark in a falling market, returning -6.7% against -12.9% for the MSCI Asia ex Japan Index. The discount widened from 8.2% to 11.9% and, therefore, the return to shareholders was -10.0%. The fund has continued to outperform since […]
In QuotedData’s morning briefing 2 August 2022: Ed Warner, OBE has been appointed chair of JLEN Environmental Assets with effect from 2 August 2022, succeeding Richard Morse who stepped down on 15 July 2022. Ed brings extensive financial services experience from his time spent in senior positions at several investment banks and financial institutions, including […]
This week, Gore Street Energy Storage published its annual results, and I had a call with Alex O’Cinneide who is the investment adviser to the fund. 10x bigger in just two years We wrote about Gore Street Energy Storage back in June 2020. Back then, the share price was just over £1 and the market […]
Aberforth Split Level Income Trust has published results covering the 12 months ended 30 June 2022. Over that period, the Numis Smaller Companies Index (excluding Investment Companies) generated a total return of -17.2%. The trust’s total assets total return, which measures its ungeared portfolio performance, was -14.9% during the year. However, when geared by the […]
Oakley Capital Investments says that Oakley Capital Origin Fund has reached an agreement to sell part of its stake in Seedtag to private equity investor Advent International. The trust’s look-through share of proceeds is expected to be about £13m, adding about 4p to the end June NAV. Founded by Jorge Poyatos and Albert Nieto in […]
