Origo Partners has announced that eleven employees, including Chris Rynning and Niklas Ponnert, have resigned from the company and eight of these are now employed by Origo Advisers Limited, three employees had their employment contracts terminated at a cost to Origo Partners of $21,000. Origo Advisers Limited has now taken up the reins of managing […]
Independent Investment Trust’s results for the year that ended on 30 November 2014 show it beating the FTSE All-Share Index but lagging the FTSE World Index, returning 10.4% on NAV vs. 4.7% for the UK market and 13.7% for the global index. The discount didn’t change much and so the return to shareholders was 10.6%. […]
BlueCrest BlueTrend announced today that as the average of the Company’s monthly net asset value as at the end of October, November and December 2014 was less than US$100m, it will hold a continuation vote (this is a requirement under the company’s articles). They say Notice convening the general meeting will be published by no later than […]
North American Income Trust has announced that its current manager, Paul Atkinson, has decided to return to Europe with his family, leaving Aberdeen’s Philadelphia office. Paul has managed the trust since its change of remit in 2012. He will be succeeded by Ralph Basset (the deputy head of North American equities) and Fran Radano (a […]
International Biotech is part owner of an unquoted UK biotech stock, Convergence Pharmaceuticals, that is being acquired by Biogen Idec. At the purchase price of $675m, International Biotech’s stake is worth £6.8m. This compares to the £442,000 valuation of the company in International Biotech’s accounts. For now though International Biotech is writing up the value […]
Ground Rents Income Fund has entered into an option agreement to buy the ground rents of 583 residential units in six buildings for up to £3.9m. They expect these to come into the portfolio over the course of 2015. GRIO is buying the ground rents from Muse Developments, part of Morgan Sindall. The six sites, […]
Middlefield Canadian Income is asking shareholders to approve a change to its investment policy to allow it to invest up to 40% of its portfolio outside Canada (up from 20%). They say most of this extra freedom will be used to invest in the US – there will be a limit of 10% on investments […]
Riverstone Energy is committing $125m towards the creation of a new $375m fund, Riverstone Credit Opportunities, L.P., which has been set up to take advantage of the lack of credit available for energy companies. The fund will be advised by Riverstone’s credit investment team, led by Christopher Abbate and Jamie Brodsky, both of whom joined […]
GCP Infrastructure has announced that it is committing up to £25m to loan notes with about a ten year life that will be issued by GCP RHI Boiler 1 Limited. The loan will be secured against a portfolio of domestic biomass boilers. £4m will be drawn down at the start of the arrangement and the […]
BlackRock Income & Growth has published its results for the year that ended on 31 October 2014 and over that period the fund outperformed the FTSE All-Share Index, generating a return on net assets of 6.3% against a 1% return for the FTSE All-Share Index. the discount widened slightly and so the return to shareholders […]
