Schroder Real Estate has sold a 9.1 acre site in Hinckley for £4.525m (a £675,000 uplift on the last valuation). The buyer is Redrow Homes who will build houses on the site in Coventry Road, Hinckley – Schroder Real Estate secured planning for 122 residential units last August. The fund gets 50% of the consideration upfront […]
RCM Technology has reported its results for the six months ended 31 may 2014. Over that period the net asset value fell by 0.1%, this does not compare well with the return on the Dow Jones World Technology index which gained 7.6%. The share price fell by 3.6%. The result for this period should be set […]
Schroder Income Growth Fund has a fee structure today based on a percentage of the net revenue return (10%), a percentage of assets (0.375% on assets up to and including £75m, 0.35% on the next £50m, and 0.325% on assets in excess of £125m) and a performance fee (a symmetrical arrangement where the manager lost […]
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 […]
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 […]
