The second half of 2013 was not kind to City Natural Resources whose net asset value fell by 6.7% while its benchmark delivered a positive 3.1% return. CVYN’s discount widened and the share price total return was -8.3%. The managers’ report does not mention any stock specific reasons for the poor performance
Standard Life UK Smaller Companies interim report covering the second half of 2013 shows the fund underperforming its benchmark by some margin (NAV total return 17.6% vs. Numis Smaller Companies ex Investment Companies return of 21.0%). The share price did better than the NAV, returning 19.6%. The manager’s report ascribes the underperformance to lack of […]
Bluefield Solar Income’s first set of figures, covering the period from 29 May to 31 December 2013, has been released. Its net asset value at the end of December 2013 was 97.3p. It declared its first dividend of 2p per share on 19 February 2014 and the statement says it is on track to pay the […]
Japan Residential Investment Company is buying seven residential apartment buildings for YEN9.4bn (£55.3m) at a small discount to a recent valuation. In all the properties contain 419 units and 15,077 sqm of leasable space and are expected to generate a yield of 5.2%
F&C UK Real Estate generated a total return to shareholders of 18.9% over the second half of 2013. The net asset value total return for the period was 11.0%, driven by a 6.6% increase in property values, and a rising premium made up the rest. Voids have risen a little but FRCE believes the letting market is good. […]
Alternative Asset Opportunities (which used to be known as US Traded Life Interests Fund) saw its net asset value fall from 48.5p to 45.9p over the six months ended 31 December 2013. The fall was largely the result of adverse exchange rate movements. The Board say that policy maturities during this period have been sufficient […]
Law Debenture generated a net asset value return of 28.6% over 2013, well ahead of the return on the FTSE All-Share Index which returned 20.8%. The share price more or less kept pace with the asset value, returning 28.3%. Revenue from the fiduciary services business rose by 4.3%. The full year dividend rises to 15p […]
Cambria Africa has just released its results for the year ended 31 August 2013 – ancient history really. Cambria Africa now holds just two core assets, Payserve Africa and Milchem Holdings and is selling off its remaining holdings – diversifying its focus away from Zimbabwe. Over the year it lost $5m on continuing operations and […]
JP Morgan Private Equity’s net asset value rose by 2.8% over the second half of 2013. The share price rose by 0.2% so the discount widened a little over the period. NAV gains were derived in part from disposals – JPEL received $41.5m and invested $3.3m during the six months. Since the start of 2014 […]
Subject to the outcome of an EGM to be held on Thursday 29 May 2014, Prosperity Voskhod intends to delist its shares. PVF has been selling off its portfolio and returning cash to shareholders.
