Foreign & Colonial, which is now managed by Paul Niven (pictured) has released its interims. these cover the first half of 2014. Over that period the net asset value rose by 1.1% and the share price return was 0.8%. By comparison the benchmark return was 3.2%. The UK, North American, European and Emerging Market equity portfolios underperformed comparable […]
Doric Nimrod Air Three has published accounts covering the year to the end of March 2014. The company paid its first dividend in October 2013 of 0.1715p and a second dividend of 1.7185p in January 2014. From now on the company will be paying dividends of 2.0625p per quarter. The company has not changed the residual value […]
Japan Residential Investment Company has published interim figures for the period ended 31 May 2014. The net asset value climbed from 58.7p to 58.9p and the company paid a distribution of 1.8p per share (covered 94.7% by earnings). The property portfolio rose in value by 1.8% but this was offset by a fall in the […]
Eredene Capital has sold a further 23% of Sattva CFS & Logistics Pvt for £1.9m. Sattva is a container logistics business based in Chennai. The disposal price equates to 4.6x the price Eredene paid for the business in 2007. Eredene sold 10% of the company back in January 2012 for £1.1m and retains a stake […]
Electra has announced that, at the request of Sherborne (which holds 19% of the company), its Chairman met Edward Bramson of Sherborne Investors Management (pictured) on 24 July. At the meeting Mr Bramson suggested that Electra appoint three new directors, including Edward Bramson, and that he be given a mandate to conduct a strategic review […]
Aberforth Geared Income has published its results covering the year to the end of June 2014. Over the year the total return on the company was 29.2% (well ahead of the return on the Numis Smaller Companies Index ex Investment Companies +20.3% and the FTSE All-Share Index +13.1%), the gearing effect of the company’s zero […]
The net asset value total return for Fidelity European Values matched that of its benchmark index for the first half of 2014. Over the six months to 30 June the fund returned 3.1% as did the FTSE World Europe ex UK Index. The discount narrowed though so the return to shareholders was 5.6%. The manager’s […]
Trinity Capital has published figures for the year ended 31 March 2014. They sold their investment in Luxor Cyber City for £9.2m and used the money to fund a distribution to shareholders of £10.5m. At the end of March they had five investments left valued at £22.8m or 10.9p per share. On 24 July 214 […]
SEGRO has acquired a portfolio of four UK logistics properties from Harbert European Real Estate Fund III, L.P for £49.5m, equivalent to a net initial yield of 6.3 per cent (the annual net rent is £3.2m). The portfolio is fully let for an average lease length of 6.2 years to the earlier of break or expiry. The portfolio comprises […]
Invesco Property Income, which has been struggling with its debt for some time, has been told by its lending bank that it will grant a three month extension to Invesco Property Income’s loan (due for repayment on 28 September 2014). However that’s it – Invesco Property Income will have to sell off its portfolio by […]
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