Over the year to the end of March 2015, SVM UK Emerging underperformed its benchmark index, the IMA UK All Companies Sector Average Index, as it returned 2.0% on net assets against the benchmark’s 5.6%. The return to shareholders was 2.2% as the discount narrowed slightly from 21.9% to 21.7%. The manager did not charge […]
Changes in yesterday’s budget in relation to the Climate Change Levy (removal of Climate Change Levy exemption) for renewable electricity have had a knock-on effect on the net asset values of companies operating in the renewable energy sector as it changes the assumptions used to calculate them. Greencoat UK Wind says it was already factoring […]
On 7 July 2015, Japan Residential Investment Company acquired Minamisuna 7 Chome Building, a seven story apartment complex located in Koto Ward, Tokyo. The purchase price was Yen488m (£2.5m), excluding tax and other acquisition costs, and has an estimated prospective net operating yield of 4.7%. The property was purchased at a 2.4% discount to a […]
3i Infrastructure and AMP Capital will jointly acquire 100% of Danish company ESVAGT from Maersk Group. 3i Infrastructure will be investing approximately £109m for a 50% interest in ESVAGT and will have an equal shareholding with AMP Capital. Headquartered in Esbjerg, Denmark, ESVAGT is a leading provider of emergency rescue and response vessels and related […]
SQN Asset Finance is providing £16m of funding for two Combined Heat and Power Plants that will be used to provide heat, carbon dioxide and electricity to the largest glasshouse tomato growing facility in the UK (located on the Isle of Wight). The project is being managed by Triple Point. The CHP plants will be gas […]
In a perfect illustration of the dangers of buying a fund on a large premium, BACIT results show that its share price fell by a penny or 0.8% from 122p to 121p over the year to the end of March 2015 – this despite the net asset value rising by 9.6% from 114p to 125p. […]
HICL Infrastructure is buying a 50% stake in the Southmead Hospital PFI project from Carillion for £87.8m. £48.7m of this number relates to a future loan note subscription obligation, which will be paid by the Group in September 2015. The Project is a £430m, 35 year concession to design, build, finance, operate and maintain an 800-bed acute […]
St. Peter Port Capital has just published results for the year ended 31 March 2015 that show the NAV falling by 37.5% on the year as they wrote down the values of some investments. Sales from the portfolio generated cash proceeds of £3.36m and they had £4m in cash at the end of June 2015. […]
F&C Commercial Property has announced that, on 30 June 2015, it sold its Absolute Ownership (Scottish equivalent to English Freehold) in 124-125 Princes Street, Edinburgh for £18.05m. The property comprises a seven storey building providing a prominent retail unit and office accommodation on the upper floors. The retail unit is currently let to Urban Outfitters and […]
Summit Germany has acquired a loan facility secured on six commercial properties in Germany. The deal price is €40m and they are buying loans with a face value of €78m. The Company has previously owned the Portfolio (The Telecom Portfolio) and as a result of acquiring the loan facility, will regain full control. The Portfolio consists […]
