The Board of BH Macro has announced that the company and its manager, Brevan Howard Capital Management LP, have agreed that the Manager will waive its entitlement to a management fee in respect of any performance-related growth of the Company from 3 October 2016 onwards. In addition, Brevan Howard Master Fund Limited will not charge […]
Over the year to 31 August 2016, Aberdeen Latin American Income Fund’s NAV total return was 46.2%, ahead of the 38.8% rise in its composite benchmark’s return. On a total return basis the Ordinary share price rose by 36.7% to 66.63p reflecting a widening in the level of discount to NAV per share which moved from […]
In the year to 30th June 2016, the total return on JPMorgan Global Convertibles Income’s net assets was 0.0% compared to -1.0% last year. The return to shareholders, which reflects the share price movement and the dividend, was -9.5%. Three quarterly dividends totalling 3.375p per share were declared and paid during the year. The Board […]
UK Commercial Property Trust faces a continuation vote as it has been trading on too wide a discount. Continuation votes triggered by the fund’s discount trading at wider than 5% for 90 days were built into the structure of the fund. The vote was triggered on 11 October 2016 and the meeting will be held […]
SVG Capital has announced that it has sold 100% of its portfolio having today signed an asset transfer deed with Harbourvest. Harbourvest Structured Solutions III LP is paying £807m for the portfolio. The price is a small (0.6%) premium to the NAV at end July 2016. Taking that figure, adding SVG’s existing cash pile and allowing […]
JPMorgan Smaller Companies has published its results for the year ended 31 July 2016. The total return on net assets before dilution was -7.7% (-6.4% after dilution), which compares with +2.1% for the benchmark index. The return to shareholders was -10.1% reflecting a widening of the share price discount to diluted net asset value from 17.0% […]
Picton Property Income has published an update following the repayment of all its 7.25% zero dividend preference shares and revolving credit facility, together with asset disposals announced in August and October: GBP45 million of NAV accretive disposals, reducing central London office exposure. Repayment of GBP15.8 million previously drawn under a revolving credit facility. Repayment of GBP29.1 million […]
LondonMetric Property has acquired a distribution warehouse in Stevenage for GBP7.3m at a NIY of 6.25%. The 74,000 sq ft distribution warehouse is located immediately adjacent to the A1(M), on an established South East distribution park. The unit is let to Dixons Carphone for a further 9 years at a rent of GBP6.50 psf with […]
EPE Special Opportunities is reporting an IPO for one of its investments, Luceco plc. The IPO is of 71.6 million shares at a price of 130.0 pence per share. Luceco plc will admit its entire issued share capital of 160.8 million shares to trading on the Main Market of the London Stock Exchange, implying a market […]
Picton Property Income has disposed of its interest at 1 Chancery Lane, WC2 for GBP17.25 million, reflecting a net initial yield of 3.9%. 1 Chancery Lane comprises a 15,000 sq ft multi-let retail and office block, located in London’s Midtown, arranged over basement, ground and five upper floors. The disposal formed part of and now […]
