Scottish Investment Trust has announced that John Kennedy, manager of the fund for the last 10 years and an employee for 21 years, has left the Company on 18 July 2014 (although he will stay on as a consultant for a short period to mange the handover to his successor). The Board thanked him for contribution over this […]
JPMorgan European Smaller Companies, chaired by Carolan Dobson (pictured), is changing its fee arrangements. The old arrangement (1.3% of the company’s market capitalisation) will be replaced with a fee of 1% on net assets. The change will take effect on 1 April 2015.
Custodian REIT has acquired a freehold public house property, on Frogmore Lane, High Wycombe, for £1.625m. The property is currently let to the “Stonegate Pub Company” (the UK’s largest independent pub company whose brands include Yates’s, The Slug and Lettuce, The Living Room and Scream). The Frogmore lane property, currently trading as a Yates’s Wine Lodge, is let on […]
Vinaland has divested a number of its ‘hospitality investments’ (mostly smaller operating hotels) as well as Movenpick Hotel in Hanoi for US$ 19.9m (at a c 5% premium to their carrying value as at 31 March 2014). Since November 2012, VNL has been focused on asset realisation and the sale proceeds are to be deployed both […]
BlackRock Commodities Income , managed by Olivia Markham (pictured) with co-manager Tom Hall, has released its interim reports for the six months ended 31 May 2014. The total return on the net asset value for the period was 7.9%, whilst share the total return on the share price was 5.2%, reflecting a widening of the discount during the period. […]
Empiric Student Property acquires additional Birmigham student accomodation for £12m. Empiric Student Property has exchanged contracts to acquire an 106 bed, student accommodation property, on Bristol Road, Selly Oak, Birmingham for £12m. Located within five minutes walk of the University of Birmingham, the freehold “Mansion Brook” property is next to “Edge Apartments” that ESP has also agreed to purchase. Collegiate […]
Picton Property Income has acquired a distribution warehouse in Rushden, Northamptonshire, for £20m. The 312,000 square foot warehouse is currently leased to electrical component manufacturer Belkin, until April 2020, and the transaction represents an initial yield of 7.7%. Following this purchase, Picton has now largely deployed the proceeds, that were allocated to new asset purchases, from the £35m fundraising […]
Infrastructure India has announced proposals to raise up to $102m (c £60m) by way of a placing at a price of 18p per share (closing price on 14 July = 14.5p). An EGM is being held on 11 August to seek the necessary authority from shareholders. IIP is an AIM quoted investment company focused on investment in Indian […]
Juridica Investments has announced an investment in AC Kinetics, a privately-held US-based developer of an advanced induction motor control algorithms, which aim to reduce energy consumption while improving performance. In announcing the purchase JIL, which invests directly and indirectly in a wide variety of business-to-business related litigation and arbitration claims, advised that they believe the AC […]
British Land has agreed to let the 4,500 square foot sixth floor of its Marble Arch House property (located on Seymour Street in the Portman Village) to Access Industries on a ten-year lease. Access will join Fulcrum Asset Management, who signed a ten year lease for the building’s 9,000 square foot fifth floor earlier this summer. […]
