Aquila Energy Efficiency Trust (AEET) has published details of a tender offer under which up to 18.6% of its issued share capital may be repurchased at 94.28p per share, up to a maximum consideration of £17.5m. AEET is publishing a circular which we would suggest that shareholders read. AEET is seeking shareholders’ approval for the […]
Gresham House Energy Storage (GRID) has published a trading update in advance of the publication of its annual results for the year ended 31 December 2023 expected on 29 April 2024. GRID’s chair, John Leggate, says “The BESS sector, the Company and its shareholders are going through the most challenging operating environment since the Company’s […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Hipgnosis (0:24) • Balanced Commercial Property Trust (6:25) This week’s interview was with Jean-Hugues de Lamaze from Ecofin Global Utilities & Infrastructure – watch it again […]
Forget the Magnificent Seven, the Indian stock market has been the unsung hero of the past decade. The MSCI India has delivered an annualised return of 13.6%[1], that puts it ahead of the MSCI World (9.97%) and its emerging market peers (3.33%). The returns from the country’s small-and mid-cap sector have been even higher. With […]
Middlefield Canadian Income (MCT) has announced its annual results for the year ended 31 December 2023, during which it provided NAV and share price total returns of -1.4% and -10.7% respectively, underperforming its benchmark’s total return of 3.9%. At the beginning of 2023, inflation was falling faster in Canada than in the US, and the […]
Fair Oaks Income (FAIR) has announced its annual results for the year ended 31 December 2023, during which it provided an NAV total return for its 2021 shares of 12.98% (31 December 2022: -0.90%) and 13.82% per realisation share (31 December 2022: 0.5%). Share price total returns were stronger at 30.94% for the 2021 shares […]
In QuotedData’s morning briefing 19 April 2024: Home REIT (HOME) has sold a further 65 properties at auction for a total of £15.9m, representing 4.8% of the company’s portfolio by value and in line with the August 2023 draft valuation. Since August 2023, the company has completed on the sale of 533 properties and exchanged on a […]
Interview with Lyrical Asset Management’s Andrew Wellington and GQG Partners’ Brian Kersmanc. Andrew and Brian discuss the impact and influence of macro on portfolio positioning and take a look at current stocks of interest?
In this video, Edward Marten CEO of QuotedData and James Carthew head of investment companies talk about the search for income, and where to find attractive opportunities in the current market. Their presentation (at Master Investor, the UK’s largest private investor show, on the QuotedData stage) explains why it’s worth taking a fresh look at […]
HydrogenOne Capital Growth has published results for the year ended 31 December 2023. We’ll be publishing a note on these shortly, so here is a quick summary: The NAV increased by 5.8% from £125.4m at 31 December 2022 to £132.7m at 31 December 2023 due to valuation uplifts in multiple portfolio companies. The NAV per […]
HydrogenOne Capital Growth has announced a change to the corporate structure of its invetsment in HH2E (the German developer of hydrogen production plants). HH2E is backed by HydrogenOne and Foresight Group (including JLEN Environmental Assets). They have investments in HH2E itself, and separately into project-specific special purpose vehicles (SPVs) managed by HH2E. HydrogenOne has invested […]
JZ Capital Partners wants to invest up to about US$20.5m into the Secondary Fund managed by an affiliate of JZCP’s manager. The money would be used to help the Secondary Fund make an investment into a newly incorporated company – Follow-on Flex Pack – that will be a related company of, and incorporated in a […]
Alliance Trust says that Willis Tower Watson has appointed a new stock picker for its multi-manager global equity portfolio. ARGA Investment Management replaces Jupiter Asset Management, following Ben Whitmore’s decision to leave Jupiter later this year and set up his own business. Craig Baker, WTW’s chief investment officer and chair of the investment committee, said: […]
The boards of Conchord Chorus Limited (an entity controlled by Alchemy Copyrights) and Hipgnosis have reached agreement on the terms of a recommended cash offer for Hipgnosis at US$1.16 in cash for each Hipgnosis share. In addition, if the current investment adviser agrees to terminate the Investment Advisory Agreement with effect from the date that […]
In QuotedData’s morning briefing 18 April 2024: Apax Global Alpha (through its interest in Apax XI) is investing about €36m in Zellis Group. Zellis is leading provider of payroll and HR software solutions to customers in the UK and Ireland and an emerging leader in the global benefits administration software market, serving approximately one third […]
Urban Logistics REIT reported an average rental uplift of 23% on leases signed in the first quarter of this year as occupational activity returns. The company completed three new lettings (including one at a vacant asset) and three rent reviews in the period, covering 374,000 sq ft of space. This totalled £1.3m in new annualised […]
NB Global Monthly Income Fund (NBMI) has announced its annual report for the year ended 31 December 2023. For the year, the NAV total return on ordinary shares was 5.86%, during the same period the total share price return was 7.14%. The company has been in managed wind down since January 2023. Over this period, […]
In QuotedData’s morning briefing 17 April 2024: VietNam Holding (VNH) announced a monthly update highlighting that the company’s NAV rose +4.4% for March due to the outperformance of holdings in retail, telecoms, and construction. The manager noted that Vietnam’s economy continued its exports-led growth story in March, posting a relatively impressive GDP rise of 5.7% […]
In QuotedData’s morning briefing 16 April 2024: NextEnergy Solar Fund (NESF) announced it has refinanced its existing £135m short-term Revolving Credit Facility with AIB Group and NatWest which is due to expire in June 2024. The new facility is available until June 2026 and provides two additional 12-month extension options at NESF’s sole discretion to […]
The board of Balanced Commercial Property Trust (BCPT) has launched a strategic review into the future of the company, with all options – including a sale, merger, or continuing as is – on the table. The move comes as the company approaches a continuation vote later this year. The board pointed out that the company […]
Marble Point Loan Financing (MPLF) has released its annual results for the 12 months ending 31 December 2023. Over the 12 month period MPLF’s ordinary share class returned a NAV total return of 17.5%, while its liquidating share class returned 18.3%. MPLF’s portfolio value fell from $145.5m to 118.4m, however this was due to dividend […]
In QuotedData’s morning briefing 15 April 2024: Hg Capital Trust (HGT) has announced a £21.3m investment into Focus Group, alongside other clients of Hg. Focus Group is one of the UK’s leading providers of essential business technology to small and medium enterprises (SMEs). Hg believes that the long-term trends in small business technology adoption mean […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Third Point Investors (0:30) • Literacy Capital (5:37) • Batteries – Gore Street Energy Capital (8:02) This week’s interview was with Phil Waller from JPMorgan Global […]
On the economic front, this week’s big news was US inflation figures coming in ahead of expectations. This knocked both equity and bond markets, and cast doubts on the prospect of any interest rate cut in June, as had been expected beforehand. Sticky inflation One reason why US inflation seems to be stickier than the […]
Gulf Investment Fund (GIF) has announced the results of its tender offer, which closed on 11 April 2024. 1,157,160 shares were tendered, equal to 2.89% of its issued share capital meaning that, post the tender, GIF’s share capital will be 38,946,044 shares, which is above the minimum size condition of 38,000,000 shares set by its […]
Mercantile (MRC) has published its annual results for the year ended 31 January 2024, during which it provided NAV and share price total returns of 5.4% and 6.1% respectively, outperforming its benchmark, which returned 1.8%. Its chairman, Angus Gordon Lennox, says that existing portfolio holdings have been performing well, despite the challenging conditions of the […]
Impax Environmental Markets (IEM) says its NAV total return for 2023 was 4.5% and, as its discount widened, the return to shareholders was -3.7%. [There is no good benchmark for the portfolio, but we would use the MSCI All Countries World Index, which returned 15.3% in a year where the market’s focus was on very […]
Downing Renewables and Infrastructure generated a positive NAV total return of 3.5% over 2023, the flatter figure for 2023 reflecting more normal power prices. In common with other renewables companies, the discount widened over the year; the share price fell to 90p from 113.5p and now stands at 75.2p, a 36.1% discount to the end […]
In QuotedData’s morning briefing 11 April 2024: Onward Opportunities (ONWD) says its NAV total return from IPO on 30 March 2023 to end December 2023 was 11.3%. This compares to a 3.7% fall in the value of the UK AIM All Share index. The company trades at a premium and raised more money last month, […]
The Global Opportunities Trust (GOT) has announced its annual results for the year ending 31 December 2023. The company’s NAV total return was 1.7% while shares fell 3.6% with the discount widening to 18.6% at the end of the year . In comparison, the global market benchmark All-World Total Return Index rose by 15.7%, following […]
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