HgCapital Trust (HGT) serves as a listed vehicle providing access to the unquoted businesses managed by Hg, described as Europe’s largest investor in software & service businesses. HGT reported annual results this morning, covering the period to 28 February 2021. Net assets close the financial year at closed to £1.3bn, with HGT noting that it […]
Octopus Renewables Infrastructure (ORIT) announced annual results to 31 December 2020, with the following financial highlights: “ORIT’s IPO took place on 10 December 2019 raising £350m 100% of the net proceeds from IPO are now committed NAV total return of 2.4% over the period since IPO Total shareholder return of 15.9% over the period since […]
In QuotedData’s morning briefing 15 March 2021 – International Biotechnology Trust’s (IBT’s) board and its manager, SV Health Investors, announced that Carl Harald Janson has decided to step back from his role as lead manager after seven at the helm. Lead responsibility for portfolio management will transition to Ailsa Craig and Marek Poszepczynski and the board […]
RTW Venture Fund (RTW) made two investment announcements yesterday afternoon (9 March) – it participated in the $114m financing round held by Ventyx Biosciences as well as the $36m round held by Visus Therapeutics. The investments are in companies involved in molecule therapeutics and presbyopia-correcting eye drops RTW describes the companies as follows: “Ventyx is a privately-held clinical-stage biotechnology company […]
Further to Chrysalis Investments’s (CHRY’s) announcement on 8 March 2021 that authority for a new placing programme to issue 600m ordinary and/or C shares had been approved, the company will shortly publish a prospectus containing details on the placing programme. CHRY has raised £470m of capital from shareholders since its launch, which means that the implied […]
Global sector company, F&C (FCIT), has reported its annual results to 31 December 2020. The company’s growth and income mandate is carried out through investments in public markets, unquoted investments and private equity. With a market cap of £4.14bn, it is amongst the largest closed-end investment companies and was the first investment trust to launch, back […]
ScotGems (SGEM), the global emerging markets sector trust, reported annual results to 31 December 2020. During 2020, the share price rose by 2.1% and the NAV fell by 1.3%. This compares to a rise in the MSCI emerging markets small cap index of 8.5% and a fall in the MSCI emerging markets ex Asia index […]
![Macau Property Opportunities disposal plan is on-track - Macau Property Opportunities Fund (MPO) reported on the progress of its gradual wind-up in its annual report for the period ending 30 June 2018. The chairman reported that the shareholders' decision at the recent EGM to extend the company's life until the end of 2019 placed them in a stronger position to negotiate further satisfactory disposals. This, he pointed out, enhances the potential realisation of MPO's remaining assets, supported by a continuing market recovery in Macau. In March, the company sold its retail redevelopment site, Senado Square, for HK$800 million (c.US$102 million) - a gain of 541% over its acquisition cost. The subsequent distribution to shareholders, equivalent to 50 pence per share, represented 62% of the net profit from the sale. Highlights Fund performance · the company's portfolio value appreciated 2.3% over the year to US$338.4 million. · adjusted NAV grew 4.5% year-on-year to US$260.6 million, equating to US$3.41 (258 pence[2]) per share. · the company's share price rose 24% over the year, representing a 25% discount to adjusted NAV per share. Capital management · Consolidated cash balance (including deposits with lenders) as at 30 June 2018 was US$88.2 million. · Overall gross borrowings were reduced to US$148 million and the loan-to-value ratio improved to 35%. · Approximately US$50.5 million (£38.2 million) was distributed post year-end to shareholders, by way of a compulsory redemption of shares. This represented 62% of the net profit from the divestment of Senado Square, equivalent to £0.50 per share. In the background, the portfolio remains competitive and relevant During the year, ongoing asset enhancement initiatives at the company's flagship asset, The Waterside, have seen the property achieve stable occupancy and higher rental values as it retains its position as Macau's premier residential asset. The company has also embarked on a reconfiguration programme for several large units at The Fountainside, which will cater to increasing demand for more compact homes. These initiatives demonstrate continued efforts to meet changing consumer needs in the property market. Macau's gross domestic product is expected to grow by 5.8% this year and 3.9% in 2019. In his statement, the chairman, Chris Russell noted that they are mindful of rising global risks, particularly escalating US-China trade tensions and a weakening yuan, which are threatening to endanger the recovery of Macau's crucial VIP gaming segment. The possibility of China's central government further restricting capital outflows could also be detrimental to the company's divestment strategy. MPO : Macau Property Opportunities disposal plan is on-track](https://quoteddata.com/wp-content/uploads/2018/09/auto-draft-40-160x105.jpg)
In QuotedData’s morning briefing 10 March 2021 – EP Global Opportunities (EPG) reported annual results to 31 December 2020, delivering a total NAV return of -1.3% and a total share price return of -5.6%. EPG has adopted a cautious stance on its investment outlook, with a defensively positioned equity portfolio. At the year-end, 13% of net […]
D9 Digital Infrastructure prospectus published D9 Digital Infrastructure has published a prospectus in relation to its initial public offering (IPO). As promised, here is a link to the prospectus, which was published today. As the prospectus makes clear, access to the issue is subject to some geographical restrictions. Make sure you read these. As always, we aren’t recommending […]
Ashoka India Equity (AIE) performed well over its interim results to 31 December 2020, with the share price and NAV delivering total returns of 39.1% and 28.6%. This compares with the benchmark MSCI India IMI index’s 27.1% return. Returns led by Infosys and Coforge while Bharti Airtel detracts Infosys, which had an ending weight in the portfolio of 7.5% at the […]
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