3i Group’s annual results for the year ended 31 March 2015 show the company performing well with NAV increasing by 14% to 396p per share (despite foreign exchange losses of 12p per share). Management report that all three businesses are performing well. The private equity portfolio saw realisations worth £831m, investment of £369m across four transactions and an […]
NewRiver Retail has published its annual results for the year ended 31 March 2015, which management describe as their best financial year to date. These show a 14% increase in its EPRA NAV to 265p (2014: 240p). It was a busy year for the company during which it raised £75m of equity (to fund £71 million acquisition from its joint venture […]
Kennedy Wilson Europe is paying €30m for Puerta del Sol 9, a high street property in the iconic Plaza Puerta del Sol in Madrid. Plaza Puerta del Sol is a landmark location in the heart of Madrid’s city centre offering a wide range of restaurants, shops, cultural sights and attractions. Recently, the plaza benefitted from […]
RIT Capital Partners is borrowing £151m in three tranches of fixed rate debt with maturities in 10, 15 and 20 years time. They will be unsecured and pay fixed interest semi-annually at annualised coupons of between 3.00% and 3.56%, with a weighted average of 3.45%. The Notes were priced on 22 April 2015 and the funding […]
Standard Life Equity Income Trust is publishing its half year results for the six months ended 31 March 2015. The total return on net assets came in well ahead of the return in the benchmark (FTSE All-Share Index) at 12.8% vs. 5.3%. The share price return though was 5.7% – still ahead of the benchmark […]
Hansteen has sold its Hansteen UK Industrial Property Unit Trust II for £192.1m to a fund advised by Brockton Capital LLP in a partnership with Dunedin Property. The deal adds about £5m to Hansteen’s end December asset value. They launched the unit trust in May 2013 with £107m investment from them and clients of Aviva Investors. They […]
TwentyFour Select Monthly Income Fund has published interim results covering the six months to the end of March 2015. The fund launched on 10 March 2014 and so is now over a year old. The net asset value at the end of the period was 96.62p – down from 100p at launch and 98.41p at […]
Aberforth Geared Income Trust is cutting the “asset fee” element of its management fee from 1% to 0.9% with effect from 1 July 2015. This is obviously welcome news for its shareholders but it is odd that it didn’t simplify its fee at the same time – from 1 July the fee is: 0.9% of the […]
Finsbury Growth & Income’s interim results for the six month period that ended on 31 March 2015 demonstrate why it is so popular with investors. The total returns on both net asset value and share price were 17.4% and 17.3% respectively while the return on the FTSE All-Share Index was just 5.3%. The first interim […]
3i Infrastructure’s results for the year ended 31 March 2015 demonstrate the positive impact on the business from their sale of Eversholt Rail. The total return on net assets for the period was 24.6%. The dividend is upped from 6.7p to 7p and a 17p special dividend is planned for July. They plan to pay a […]
