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Investment Company News

11 Dec 2013

Gresham House : GHE

HMRC has rejected Gresham House’s application for investment trust status for the year ended 31 December 2012. GHE intends to appeal but says it does not have any liability to corporation tax or capital gains for that period. QD comment: this is all a bit technical but failing to get investment trust status can be […]

11 Dec 2013

ICG Longbow : LBOW

In its eighth deal, LBOW lends £13.25m against a London based portfolio of high street retail and residential properties. LBOW now 85.1% invested with an average coupon of 7.28% per annum and an average yield to maturity of 8.29%.

11 Dec 2013

Lowland : LWI

Lowland has published its results for the year ended 30 September 2013 and the fund has had another great year. The total return was 33.3% on the NAV and 37.5% on the share price. they compare themselves to the AIC UK Growth & income sector – this returned 26.4% on average – and the FTSE […]

11 Dec 2013

Atlantis Japan : AJG

Atlantis Japan Growth announced its interim results for the six months ended 31 October 2013. In NAV terms AJG outperformed its benchmark, the Topix, returning 5.1% vs. 2.9%. The manager believes the Tokyo market looks good value on a price / earnings and price / book basis. They also note that domestic investors have started buying […]

11 Dec 2013

Henderson Global : HGL

Brian O’Neill will retire as manager of Henderson Global on 31 January 2014 after 30 years of managing the fund; Brian is one of the longest serving investment managers in the closed-end fund world. He will be replaced by Wouter Volckaert. Wouter only recently joined Henderson; he was a Global equity fund manager at Morgan […]

11 Dec 2013

Standard Life Property Income : SLI

Standard Life Investments Property Income has bought three retail warehouse investments (in Leyland, Kings Lynn and Bradford (pictured)) for £12.7m and will earn an initial yield of 8% on these investments.

11 Dec 2013

Scottish Investment trust : SCIN

Results for the year to end October 2013. SCIN had a good year, beating both the FTSE All-World Index and the FTSE All-Share (SCIN NAV +28%,  SCIN share price +29%, World Index +24%, UK Index +23%). Gearing was positive, adding 1.4% to returns.

10 Dec 2013

MedicX Fund : MXF

Results for year ended 30 September 2013 show total shareholder return of 13.1%. Quarterly dividends running at 1.425p per quarter, equivalent to a yield of 7.1%. c70% of dividend covered by underlying earnings, NAV fell from 63.7p to 63.1p per share.

10 Dec 2013

Marwyn Value Investors : MVI

Marwyn has written off its investment in Silverdell. this will take 6.47p off the NAV.

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