Since launch in 2007, Rodger McNair has been F&C UK High Income’s manager. The fund has just passed a milestone. There is a performance related trigger for a continuation vote every five years. Over the five years ended 31 March 2017, F&C UK High Income has outperformed its benchmark. This means there is no need […]
LMS Capital says it has sold its majority stake in the, leading UK IT services business, 365IT, to CORETX Holdings plc. Under the terms of the acquisition the enterprise value of 365IT was agreed at GBP5.4m, which after adjusting for net debt of GBP800k results in an equity value of GBP4.6m, to be settled through […]
European Real Estate Investment Trust says that terms have been agreed for the sale of its last real estate asset, located in La Gaude, Nice, France and formerly occupied by IBM. The completion of the sale is subject to a waiver of statutory pre-emption rights from the city of La Gaude. Subject to this the […]
Menhaden’s net asset value per share total return for 2016 was +1.8% (2015: -14.1%) and the share price total return was -13.8% (2015: -23.0%). As at 31 December 2016, the discount of the share price to the NAV per share stood at 22.2% (2015: 8.2%). While they do not have a formal benchmark, during the year […]
In its latest results statement, the chairman of Oakley Capital says the fund performed well in 2016. There has been a 30% increase (on a like-for-like basis) in the fair values of the portfolio companies held by the Oakley Funds, reflecting strong underlying growth. This, together with the favourable impact of weaker Sterling, has resulted […]
Martin Currie Asia Unconstrained says that the differentiated investment approach, adopted in August 2014, has translated into much improved recent performance but this has not been reflected in a narrowing of its discount. Following feedback from shareholders, the board is initiating a policy of increasing the yield on the shares by introducing a distribution from capital to […]
HgCapital, the Manager of HgCapital Trust has made an investment in Mitratech, a leading global provider of legal, risk and compliance software serving multinationals and SMEs across Europe and the US. HgCapital will be the lead investor in the new transaction structure, alongside TA Associates and the management team at Mitratech. The terms of this […]
P2P Global Investments says that it is conducting a review of its investment management arrangements. Following discussions with MW Eaglewood Europe LLP (the investment manager) and significant shareholders of the company, the board has resolved to initiate a review of the company’s investment management arrangements. The board will update shareholders as to the outcome of the […]
Over the course of 2016, Jupiter Dividend & Growth’s portfolio returned 3.7%, well behind the 12.5% return delivered by the All-Share Index, its benchmark. The portfolio struggled in part because it was positioned for a “remain” vote in the referendum. The fund is a split capital trust with gearing provided by a zero dividend preference […]
Over the course of 2016, Blue Capital Global Reinsurance produced a total return on NAV of 8.3%, ahead of its 8% per annum target. As at 31 December 2016, they had net assets of $226.9 million compared to $223.3 million at the beginning of the year. During the year, they earned $17.2 million of which […]
