CCSL : Chenavari makes fourth investment Chenavari Capital Solutions has invested £4m in a new investment. The investment effectively takes the first loss incurred by a book of leveraged loans financed by an unnamed bank. The underlying borrowers are primarily European and UK corporates with credit ratings higher than B-. No more than 2.5% of the […]
AFMF : Advance Frontier Markets underperforms MSCI Index Advance Frontier Markets saw its net asset value rise by 22.4% and its share price by 27.9% over the year to the end of June 2014. The MSCI Frontier Markets Index posted a gain of 36.2% over the same period. The manager’s report says that good performance […]
LEF : Ludgate Environmental NAV falls Ludgate Environmental’s net asset value fell from 84.2p to 66.5p over the course of the year that ended on 30 June 2014. The company made a distribution of 5p per share in December 2013 which accounts for part of this. The fund’s holding in Terra Nova was written off […]
GPOR : Great Portland says its Rathbone Square flats selling fast Great Portland Estates has sold 125 of the available 142 apartments it is building at Rathbone Square W1 (the former post office sorting depot). The 125 flats sold to date have raised £207.2m for the company. The average selling price equates to £1856 per […]
JLIF : John Laing raising cash to fund three acquisitions John Laing Infrastructure is raising up to £50m via a tap issue of stock. The money will be used to fund three acquisitions it announced today. They are spending £39m on a 50% stake in the South East London Police Stations project (four South East […]
ELTA : Sherborne silent on need for change at Electra Electra has published the circular convening the meeting requested by Sherborne at which it seeks to remove one of Electra’s existing directors and appoint two of its own. It then hopes to lead a strategic review of the company. Incredibly, Sherborne are asking shareholders to […]
PHI : Pacific Horizon growth bias pays off Pacific Horizon results for the year ended 31 July 2014 were good. The net asset value return was 10.4%, comfortably ahead of the MSCI AC Asia ex Japan Index which returned 4% in Sterling terms. Shareholders did even better as the trust’s discount narrowed, leaving them with […]
MUT : Murray Income’s rating declines Over the year to 30 June 2014 Murray Income generated a total return on net assets of 14.0%, ahead of the return on its benchmark which was 13.1%. The share price lagged the net asset value however and so the return to shareholders was 9.4%. The dividend for the […]
SREI : Schroder Real Estate sells site to Barratt Developments Schroder Real Estate has sold a non income producing site in Wembley to Barratt Developments for £15.25m. Completion is set for 23 September. Schroder Real Estate says the deal will add 3.5% to its net asset value at 30 June 2014. The site has planning […]
MWY : Mid Wynd substantially restructured under Artemis Mid Wynd results for the period ended 20 June 2014 were announced on 9 September 2014. These showed the fund generating a total return on net assets of 11.7%, ahead of the 10% return on the FTSE World Index. The shares moved to trade on a small […]
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