Marwyn Value Investors’ announces manager payday as discount languishes – Marwyn Value Investors (MVI) is a rather strange and complicated beast. It has brief periods of spectacularly good performance interspersed with long periods of rather dull returns. many shareholders appear to have become disillusioned, there is a perceived overhang of shares and it trades on a […]
Scottish Mortgage (SMT) has announced its annual results for the year ended 31 March 2020, which suggest that the trust has provided an effective shelter against the storm of covid-19. During the year, the trust provided Nav and share price total returns of 13.7% and 12.7% respectively, which are very respectable given the unfortunate timing […]
Aberdeen Asian Income (AAIF) has announced its annual results for the year ended 31 December 2019, during which it benefited from exposure to tech companies and businesses that rely on Chinese consumption growth. During 2019, AAIF provided an NAV total return of 10.5%, which was broadly in line with the MSCI All Countries Asia Pacific […]
Further to its announcement on 27 March 2020, Strategic Equity Capital (SEC) has announced that it has entered into an investment management agreement with Gresham House Asset Management Limited (GHAM) as the Company’s new investment manager and alternative investment fund manager (AIFM), which will become effective from 21 May 2020. At this point, GVQ Investment […]
The Renewables Infrastructure Group (TRIG) has announced that it has completed the acquisition of an approximate 36% equity interest in Merkur, a 396MW operational offshore wind farm in the German North Sea. This follows the exchange of contracts to acquire the Project announced in December 2019, and receipt of German foreign investment approvals and EU […]
Boards faced with underperforming managers have a tricky balancing act to perform. Investors may have bought the trust because they like the manager and the investment style that comes with them. They might be prepared to look past short-term performance problems and might not take kindly to their favoured manager getting fired. Or a board […]
Schroder UK Public Private Trust (SUPP – formerly Woodford Patient Capital Trust) has announced its annual results for the year ended 31 December 2019. It was a year of major change for the trust and one that its chairman, Susan Searle, describes as disappointing – its net asset value fell 49.3%, from 97.61p to 49.46p, […]
So far, it’s been a very quiet day for news. Princess Private Equity has provided a covid-19 update. The key takeaway is that, given current uncertainty, it is cutting its dividend by half for FY2020 to €0.29 per share (FY2019: €0.58 per share). Intu has appointed David Hargrave, as “chief restructuring officer”. He will also […]
Temple Bar has announced that the respected value manager Alastair Mundy, who has been the individual portfolio manager of the Trust since 2002, has been given an extended leave of absence by the trust’s manager, Ninety One, for health reasons. With immediate effect, Alessandro Dicorrado and Steve Woolley have been appointed by Ninety One as […]
Middlefield Canadian Income (MCT) has announced its results for the year ended 31 December 2019. During the year, MCT provided an NAV total return of 27.3%, outperforming both its Benchmark and the S&P/TSX Composite Index, which returned 26.9% and 23.9%, respectively. Since inception in 2006, the Fund has generated a cumulative return of 155.6% which […]
