RICA : Ruffer – dull performance precludes a crash? Ruffer Investment Company has published its annual accounts for the year ended 30 June 2014. Over the period its net asset value fell from £2.139 to £2.065, which after dividends translated into a negative total return of 2.6%. The share price fell by 6.5% over the period. […]
WKP : Workspace sells off ten industrial estates Workspace Group is selling off ten industrial estates, encompassing a total of 281,500 sq ft, for £44.3m The properties are being bought by Capital Industrial One BV. The price is a 35% premium to the value of the estates at the end of March 2014. The estates […]
GSS : Genesis Emerging Markets sells expensive Chinese internet stocks Genesis Emerging Markets has published its results for the year ended 30 June 2014. Over the period its net asset value rose from £5.61 to £5.78 – Sterling strength had an adverse impact on returns to UK investors. The 3% rise in the NAV came […]
THRG, BHUE : Richard Plackett stepping down as manager of investment trusts Richard Plackett is returning from his sabbatical on 7 October but will step down as co-manager of BlackRock Throgmorton Trust and BlackRock Hedge Selector. Ralph Cox who took on the job in Richard’s absence, will now get the job permanently.
BLCK : Blackstar Group hurt by weakening Rand Blackstar Group’s interims, covering the six months ended 30 June 2014, show its net asset value rising by 4.3% in Rand terms but by just 0.1% in Sterling terms as the Rand weakened vs. Sterling over the first half of 2014. Blackstar says it increased its stake […]
PJF : Prospect Japan considers investment in its manager Prospect Japan has announced that it is considering invest 3bn Yen ($28m) into a convertible issued by the ultimate parent of its fund manager. The convertible, to be issued by Gro-Bels Co Ltd., will have a coupon of 4% and converts into Gro-Bels’ shares at 60 […]
VOF : VinaCapital Vietnam Opportunity Fund selling stake in An Giang Plant Protection An Giang Plant Protection is the leading pesticides manufacturer and distributor in Vietnam. VinaCapital Vietnam Opportunity Fund is selling its 23.6% stake in the company for $63.1m. Over the period that VOF has held the stake it has generated an IRR of 23.7%. […]
FSFL : Foresight Solar plans fund raise to expand portfolio Foresight Solar Fund Limited has announced that two of its projects, Bournemouth and Kencot, are now connected to the grid. It has decided to raise £100m now and is also seeking shareholders’ permission to issue a further 200m shares between now and 24 September 2015 as and when […]
JMF : William Meadon steps down as co-manager of JPMorgan Mid Cap JPMorgan Mid Cap results for the year ended 30 June 2014 have been published today. These show the total return on net assets was 18.3%, ahead of the 17.8% return on the FTSE 250 Index. The discount tightened up resulting in a return […]
ESP : Empiric invests in Nottingham Empiric Student Property is buying a 98 bed student accommodation property in Nottingham. Talbot Studios opened in 2012 and is a purpose built property with 98 self-contained studio apartments together with various communal facilities. Empiric is paying £8.2m for the property. They say they’ll publish a trading update next […]
