Ranger reports on disappointing and frustrating year – Embattled Ranger Direct Lending has published its annual report for the year ended 31 December 2017. As its chairman points out, 2017 was a disappointing and frustrating year for the company. Total NAV returns fell by 2.95% in US dollar terms, but a sharp decline in the […]
Hg agrees sale of Teufel to Naxicap Partners – HgCapital Trust (HGT) has announced the sale of one of its portfolio companies, Teufel to Naxicap Partners. Hg will realise estimated cash proceeds of approximately £15.2m on the completion of this transaction. This would represent an uplift of £5.4m (56%) or 15 pence per share over the carrying value […]
UK Commercial Property Trust on the final furlong to REIT status – UK Commercial Property Trust (UKCM) has released its final results for the year ended 31 December 2017. REIT conversion UK Commercial Property Trust has been seeking to convert to a REIT. It has now received an irrevocable undertaking from its largest shareholder, Phoenix Life Limited, […]
Phoenix Spree Deutschland reports a strong 2017 – Phoenix Spree Deutschland (PSDL), the UK listed investment company specialising in Berlin residential real estate, has reported EPRA NAV per share grew by 50.5% to €4.11 (£3.65) at 31 December 2017 (31 December 2016: €2.73 (£2.33)). Highlights of the company’s full year results for the year ended 31 December 2017 […]
EJF Investments released results from IPO to 31 December 2017 – since EJF Investments (EJFI) IPO’ed in 2017, Total Net Asset Value return per ordinary share has risen by 23.47%. This allowed for cash dividends of 2.4 pence per ordinary share to be announced in April, June and October 2017 and an increased cash dividend of 2.5 pence per share […]
Summit Germany reports more than doubling of net profit – Summit Germany (SMTG) released its audited results for the year ended 31 December 2017 Summit Germany is focused on building a substantial portfolio of commercial properties. The company’s investments are primarily made in multi-let commercial office, retail and logistics properties situated mainly in Germany’s main financial […]
A fair year for Witan Pacific and an asset allocation switch – in its annual report for the year to 31st January 2018, Witan Pacific (WPC) reported modest underperformance and a switch of investment managers within its multi-manager structure. Performance The NAV total return of Witan Pacific (WPC) was 17.3% and the share price total return was 22.1%, compared […]
Ranger Direct Lending responds to Oaktree’s wind-down proposal – Ranger Direct Lending (RDL) has published its response to a letter from Oaktree Capital Management, L.P., proposing a wind-down of the company. Click here to see a copy of the text of the letter from Oaktree and a copy of Ranger Direct Lending’s response: 180425 Oaktree letter and Ranger […]
Weiss Korea Opportunity underperforms but long-term record remains intact – in its report for the full year to 31st December 2018, Weiss Korea Opportunity (WKOF) reported that the NAV of the company increased by 29.4% on a total return basis. The reference benchmark, the MSCI Korea 25/50 Net Total Return Index returned 32.6% in GBP. The share […]
Manager change for Invesco Perpetual Enhanced Income – Invesco Fund Managers Limited have written to the board of Invesco Perpetual Enhanced Income (IPE) telling them that it intends to stand down as manager of the fund. The investment manager is required to give twelve months notice in writing. The board has replied to the manager acknowledging its intention to withdraw […]
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