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%
JP Morgan Overseas figures for the second half of 2013 show a total return on the NAV of 8.8%. The discount narrowed so the total return on the share price was 9.7%. The fund outperformed its benchmark, the MSCI All Countries World Index which returned 6.0%. the manager says a return to favour for cyclical […]
Utilico Investments figures for the six months ended 31 December 2013 show an uplift of 4.1% in its NAV, behind the return on the FTSE All-Share (+11.4%). Utilico say the main problem was adverse movements in exchange rates – this cost them 10.9%. Revenue fell too but UTL reckon they are comfortable paying an uncovered […]
Shareholders in JP Morgan Mid Cap were rewarded with a 30.5% total return over the second half of 2013 at the fund outperformed its benchmark index (the FTSDE Mid 250), delivering a 19.0% return vs. 18.3% for the index, and its discount narrowed significantly
Hirco is cancelling its AIM admission – in other words its shares will no longer be traded on AIM. The shares have ben suspended for some time as Hirco felt unable to publish its accounts as it struggled to get useful information about the value and status of its investments. The Hirco story is a long […]
Primary Health Properties has released its results for the year ended 31 December 2013. PHP’s EPRA NAV fell for the second successive year to 300p from 305p (and 319p at the end of 2011). The fall is accounted for by the payment of an uncovered dividend – they paid 19p for the year but earnings were just under 11p. […]
