The pandemic has brought considerable challenges to Electra Private Equity (ELTA), with its two largest businesses operating in the retail (Hotter Shoes) and hospitality sectors (TGI Fridays). In an update this morning, ELTA said that its portfolio companies have and continue to receive significant support from the UK Government. ELTA noted that “this support, comprising rates […]
Perpetual Income and Growth (PLI), which served notice to Invesco and Mark Barnett in April, has this morning announced that following a new manager search, the board has agreed a heads of terms for a combination of PLI with Murray Income (MUT). PLI notes: “MUT is managed by the UK Equities team at Aberdeen Standard Investments […]
In QuotedData’s morning briefing 29 July 2020: Primary Health Properties (PHP) reported interim results to 30 June 2020, with performance highlights that include: Adjusted EPRA earnings per share increased by 7.1%; Average uplift of 2.2% per annum on rent reviews completed in the period (FY 2019: 1.9%; FY 2018: 1.4%); Additional annualised rental income on a […]
Supermarket Income REIT (SUPR), the UK supermarket REIT providing inflation-protected, long income from grocery property in the UK, has acquired Tesco Extra in Newmarket, Suffolk, from Standard Life Pooled Pension Property Fund for £61.0m, at a net initial yield of 4.6%. Tesco has a long history of trading from this prominent 9-acre site which was originally developed in […]
RTW Venture Fund (RTW), an investment company focused on identifying assets with high growth potential across the life sciences sector, noted the announcement by portfolio company, iTeos Therapeutics (iTeos), on 23 July of its pricing of a $201.1m IPO and admission to trade on NASDAQ. A clinical-stage biotechnology company – oversubscribed IPO values iTeos at 1.8x RTW’s initial investment […]
Global sector company, F&C (FCIT), has reported its interim results to 30 June 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 £3.8bn, it is amongst the largest closed-end investment companies and was the first investment trust to launch, back […]
In QuotedData’s morning briefing 27 July 2020: Gold has climbed to a record high, pushed on by a weakening dollar as cases continue to rise in the US. Global sentiment is also being negatively affected by rising cases across Europe. Regional REIT (RGL) announced that further to its announcement on 8 July 2020, Q2 rent collection […]
The UK and Europe debt (structured finance) fund, TwentyFour Income (TFIF), released its annual results to 31 March 2020. The NAV was down (12%) in total return terms, over the financial year. We note that as at 21 July, TFIF’s shares were down by about (8.4%) over the year-to-date – they have recovered most of […]
Witan Pacific (WPC) has a entered into an investment management agreement to appoint Baillie Gifford as its new manager. New China-focused investment policy proposed WPC is proposing that subject to shareholder approval, its investment objective is changed to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the shares of, […]
City Merchants High Yield (CMHY) has appointed Rhys Davies as its named lead manager, effective today. Edward Craven has been appointed as deputy portfolio manager Paul Read and Paul Causer, co-heads of the Invesco Henley Fixed interest team, will step back as co-fund managers but will continue to provide support along with the wider fixed interest team. […]
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