TR European Growth outperformed its benchmark over the second half of 2013, generating a total return of 24.8% on its net asset value against an 18.9% return on the HSBC Smaller Europe (ex UK) Index. Shareholders did even better as the discount narrowed to 10.2% – helping push the total return in the shares to […]
Spark Ventures has sold its remaining stake in Kobalt, an independent music publisher, for £5.4m. Overall SPK has made 4.8x its money on this investment.
Over the year to 31 August 2013 (a long time ago now) Elephant Capital’s net asset value fell from 40p to 33p. ECAP wrote down the value of its investment in Amar Chitra Katha Private Limited and listed investment, Nitco Limited, lost circa 38% of its value during the year. The Board has changed the management […]
F&C US Smaller Companies’ net asset value rose by 8.3% over the second half of 2013, marginally behind the increase in the Russell 2000 Index which rose by 9.0% (in sterling terms – in US$ terms it rose by 19.1% but the US dollar weakened against the pound during the period). FSC’s discount widened over […]
GCP Student Living is entering into a forward purchase agreement to buy Scape Guildford – a140 bedroom purpose built accommodation block adjacent to the University of Surrey in Guildford.
Jupiter Primadona Growth has announced that “it will use share buy backs and new issues of shares with the intention of ensuring that, in normal market conditions, the market price of the Company’s shares will track their underlying net asset value”. The effect of this should be that JPG’s discount will be eliminated and its Board […]
With both its zero dividend preference shares and its 6% convertible unsecured loan stock due for maturity in 2016, the Board of Ecofin Water & Power Opportunities has decided that it makes sense to hold a continuation vote early in 2016 at which ordinary shareholders will have a say in the future of the company.
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 […]
