New Star Investment Trust managed to generate a return on its NA|V of 3.1%, well behind the MSCI UK Index which returned 10.2% and lagging the return on the IMA Mixed Investment (40%-85% equities) +6.6% and the MSCI World +6.3%. The Chairman ascribes the underperformance to the company’s defensive positioning (high levels of cash) and its exposures […]
Macau Property Opportunities has completed the sale of its APAC logistics centre and Cove Residence properties in Zuhai, China for $65m. The price represents a profit of $29m and an IRR of 21%. Most of the proceeds have already been received but 10% will be held in escrow for six months.
CVC Credit Partners European Opps has released its first set of results covering the period from its inception to 31 December 2013. CCPG’s net asset value return was 3.2% on the euro shares and 3.3% on the sterling shares.
Over 2013 Symphony International’s net asset value decreased by 0.6% – foreign exchange weakness had a negative impact on the NAV. There were some minor changes to the portfolio – Minuet (a jv between the company and a Thai partner) sold 2.7ha of land in Bangkok for a price 50% higher than last time they sold […]
Over the six months ended 31 December 2013 Qatar Investment Fund’s net asset value rose by 7.2%, underperforming the Qatar Exchange Index which rose by 11.9%
Reconstruction Capital II has announced that “Due to a recent severe deterioration in the financial condition of East Point Holdings Limited” it is planning to write down the value of their holding in this company from €6.7m to zero. The value of the whole company at the end of November 2013 was €39.3m so the […]
Redefine International has announced that it hopes to issue 86.6m shares or 7.5% of its issued share capital to fund some tidying up of minority interests in its portfolio, c£10m of redevelopment opportunities in its German retail portfolio, repaying a £20m debt facility and fund potential acquisitions. The fund raising exercise will take place in […]
Picton Property has sold its leasehold interest in 28 Austin Friars, EC2 (pictured) and a retail property in George Street, Richmond for a combined total of £6m – Picton bought these in 2010 for £3.6m.
EPE Special Opportunities has sold its interest in Bighead Holdings – getting £4m for its stake. Bighead makes a variety of fasteners – www.bighead.co.uk. The stake in Bighead was valued at £3m in EPE Special Opportunities’ last set of accounts. Overall, including income, ESO says it made 3.6x its money on its original investment and say […]
BlackRock World Mining suffered in 2013 as commodities fell out of favour. the net asset value fell by 27.2% over the year (-24.6% including reinvested income). The share price did better, falling by 20.7% (-17.5% total return) as the discount contracted. The Euromoney Global Mining Index fell by 24.1%.
