BlackRock Smaller Companies Trust, managed by Mike Prentis (pictured), has announced that, following consultation with the Company’s largest shareholders it is amending its restriction that AIM listed stocks should not exceed 40% of the Company’s portfolio by value is being raised to 50%. The Trust’s board says that, as the amendment does not constitute a material […]
The Ottoman Fund has announced that it has settled all claims with its former finance director, Ahmet Sinan Kalpakçıoğlu, who it says embezzled money from several of the Company’s Turkish subsidiaries. According to The Ottoman Fund, Ahmet Sinan Kalpakçıoğlu has transferred the shares in Mandalina registered in his name to the Company, discontinued all litigation […]
P2P Global Investments says that it is conducting a review of its investment management arrangements. Following discussions with MW Eaglewood Europe LLP (the investment manager) and significant shareholders of the company, the board has resolved to initiate a review of the company’s investment management arrangements. The board will update shareholders as to the outcome of the […]
HgCapital, the Manager of HgCapital Trust has made an investment in Mitratech, a leading global provider of legal, risk and compliance software serving multinationals and SMEs across Europe and the US. HgCapital will be the lead investor in the new transaction structure, alongside TA Associates and the management team at Mitratech. The terms of this […]
Martin Currie Asia Unconstrained says that the differentiated investment approach, adopted in August 2014, has translated into much improved recent performance but this has not been reflected in a narrowing of its discount. Following feedback from shareholders, the board is initiating a policy of increasing the yield on the shares by introducing a distribution from capital to […]
Over the course of 2016, Jupiter Dividend & Growth’s portfolio returned 3.7%, well behind the 12.5% return delivered by the All-Share Index, its benchmark. The portfolio struggled in part because it was positioned for a “remain” vote in the referendum. The fund is a split capital trust with gearing provided by a zero dividend preference […]
Reconstruction Capital II has announced that it has conditionally disposed of 1) its 93% interest in Top Factoring SRL, a Romanian receivables collection company, and 2) the whole of the non-performing loan book held by the Company’s wholly owned subsidiary Glasro Holdings Limited (Glasro). Together these comprise the Top Factoring Group. The purchaser is Intrum […]
Over the course of 2016, Blue Capital Global Reinsurance produced a total return on NAV of 8.3%, ahead of its 8% per annum target. As at 31 December 2016, they had net assets of $226.9 million compared to $223.3 million at the beginning of the year. During the year, they earned $17.2 million of which […]
EPE Special Opportunities says its NAV at 31 January 2017 was 364.13 pence per share, an increase of 127.6% on the NAV per share of 160.00 pence as at 31 January 2016. The share price at 31 January 2017 was 268.50 pence, representing an increase of 115.7% on the share price of 124.50 pence as at 31 […]
Alliance Trust has confirmed the appointment of Willis Towers Watson (WTW) to manage the Trust’s equity portfolio1, effective from 1 April 2017. As previously announced, WTW has, on behalf of the Trust, selected eight equity managers and the transition to these managers will be completed before the Trust’s AGM. Alliance Trust has also completed the […]
