Subject to prior approval from the Financial Conduct Authority, Scottish Mortgage intends to seek shareholders’ approval, at the Annual General Meeting on 30 June, to amend the company’s investment policy to stipulate that the maximum amount which may be invested in companies not listed on a public market shall not exceed 25 per cent of […]
During the year ended 31 December 2015, Carador Income Fund generated a total NAV return of -9.71% including distributions. The Credit Suisse High Yield Index lost 4.93% in 2015, the fourth-worst year in its 30-year history. The Credit Suisse Leveraged Loan Index fared better but still fell 0.38%, representing only the second negative annual return in its […]
In anticipation of a period of maternity leave for the lead portfolio manager Wee-Li Hee, the board of Scottish Oriental Smaller Companies Trust has agreed to the appointment of Vinay Agarwal as interim lead portfolio manager for the Company, effective 20 July 2016. Mr Agarwal will be supported by Martin Lau, Scott McNab and the broader […]
Witan Pacific’s results for the year ended 31 January 2016 show it managing to outperform its benchmark, the MSCI All Country Asia Pacific Index, by a little – the NAV return for the fund was -5.6% against -5.9% for the index. Shareholders did better than this though with a return of -3.5% as the discount narrowed […]
Empiric Student Property has acquired the long leasehold (999 years from March 2007) of a 561 bed scheme in Manchester for £29.5m. Victoria Point, Manchester was constructed in 2009 by the vendor as a private residential scheme comprising apartments and duplexes across six separate blocks of accommodation on a 3.5 acre site. The property has […]
Viking Supply Ships A/S, charterer of the ODIN VIKING, in which Nimrod Sea Assets has a 43% interest through Norseman Offshore AS (“Norseman”), is now two months overdue with respect to its charterhire payments for the vessel. Norseman has been advised that Viking Supply Ships A/S has appointed Swedbank as its financial adviser and that […]
Baker Steel Resources Trust has published its results for 2015. The Euromoney Global Mining Index fell 39.3% in Sterling terms during the year and at 31 December 2015 was down 68.2% from the date of the Company’s first Net Asset Value (NAV) on 30 April 2010. By comparison, the Company’s NAV per share fell 25.4% […]
Blackstone/GSO Loan Financing has published its accounts for 2015 (figures are in Euros unless otherwise indicated). The fund returned just over 8% for the year. Over the period its NAV fell from 99 cents to 98.39 cents and its share price fell from 101 cents to 98 cents. BGLF paid dividends of 8 cents (2 cents […]
Hammerson has announced the successful syndication and signing of a £420 million unsecured Revolving Credit Facility at an initial margin of 90 basis points with a syndicate of eight international banks. This new facility will refinance the existing £150 million Revolving Credit Facility which would have matured in April 2017 which featured a margin of 150 basis […]
Aberdeen Asian Smaller Companies has published figures for the six months ending 31 January 2016. The MSCI AC Asia Pacific ex Japan Small Cap Index fell by 3.0% during this period with the company’s net asset value falling by 5.0%, while the share price declined by 5.7% to 730.0p (on a total return basis), reflecting a […]
