Fair Oaks Income (FAIR), which seeks exposure to US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing, reported annual results to 31 December 2020. We note that the NAV and share price generated a total […]
Schroder UK Public Private (SUPP) released its annual results to 31 December 2020, with its NAV dropping by 29.2%. The shares were down 19.2%. In her last statement as chair of SUPP, the retiring Susan Searle noted: “The valuation at 31 December 2020 is clearly disappointing. During the year, the company’s quoted holdings saw a decline in […]
In QuotedData’s morning briefing 26 April 2021 – International Biotechnology Trust’s (IBT’s) interim results to 28 February 2021 saw the NAV per share return 6.9%. On the management side, Carl Harald Janson decided to step back from his role as lead manager (he will remain involved with IBT as a senior advisor) and Kate Bingham was welcomed back […]
In QuotedData’s morning briefing 19 April 2021 – RTW Venture (RTW) made a note of the 15 April 2021 announcement by one of its portfolio companies, Biomea Fusion (Biomea), regarding its pricing of a $153m IPO and admission to trade on Nasdaq Global Market under ticker “BMEA”. Biomea is a preclinical-stage biopharmaceutical company focused on […]
Merchants Trust (MRCH) has reported final results to 31 January 2021. The UK equity income trust’s NAV total return with debt at market value fell by 12.4% compared with a 7.5% decrease in the benchmark FTSE all-share index. Around half of the difference was the result of portfolio gearing, which exacerbates market movements, in either direction. This […]
In QuotedData’s morning briefing 14 April 2021 – CEIBA (CBA) announced the admission to The International Stock Exchange (TISE), Guernsey, of the €25m, 10%, senior unsecured convertible bond issue due for repayment on 31 March 2026. CBA is the largest listed international company solely dedicated to investing in Cuba, with interests in the country’s commercial and […]
Weiss Korea Opportunity’s (WKOF’s) annual results to 31 December 2020 saw it deliver a total NAV return of 63.7%, which was well above the reference MSCI Korea 25/50 net total return index, which increased by 36.4% in sterling terms. WKOF’s outperformance continued following the period end. As at 31 March 2021, the NAV had increased by […]
Investec Wealth & Investment (Invested), the largest shareholder in Brevan Howard-managed BH Macro (BHMG) and a major shareholder in BH Global (BHGG), has approached the boards of both funds with a view to a possible combination. Potential combination would include an exit opportunity for those shareholders wishing to exit BHMG said the following in a statement this […]
In QuotedData’s morning briefing 12 April 2021 – Jupiter US Smaller Companies (JUS) has released a circular to its shareholders proposing a change in its name to Brown Advisory US Smaller Companies, both to reflect the identity of its new manager and to assist in marketing the company under its new management. JUS made the following […]
It was a good year for Impax Environmental (IEM) in absolute terms with its annual results period to 31 December 2020 bringing a total NAV return of 31.0% and a total market return of 28.9%. The shares traded at an average premium to NAV of 4.6% over the period. The NAV return was ahead of the […]
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