Overview
Caledonia Investments (CLDN) is a self-managed investment trust that, at its heart, is about backing companies, with strong market positions and fundamentals, for the long term. CLDN buys to hold, targeting long-term compounding real returns (after inflation) from its portfolio. Its investment strategy means that it can ignore the gyrations of fickle markets, exploiting secular growth rather than short term cyclical opportunities.
CLDN’s net assets are invested across a focused portfolio of: good-quality public companies; carefully-chosen and (as its history of realisations might suggest) conservatively-valued direct, predominantly UK headquartered mid-market private companies; and private equity funds, investing in North American and Asian private companies.
CLDN is essentially a listed family office. It invests time in nurturing its team, and in building its relationships and understanding of the companies that it invests in.
The interests of the management team and shareholders are wholly aligned. Few listed funds have an explicit objective of growing shareholders’ capital and income in real (inflation-adjusted) terms, but CLDN does, and has a long track record of success in this regard.
The fund’s website can be found here.
Fundamentals
Price
Research History
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09 Dec 2024 12 min read
Caledonia Investments – Addressing the discount
Addressing the discount On 26 November, Caledonia Investments (CLDN) released interim results covering the six-month period ended 30 September 2024. We provide some analysis of these in this note. There was a welcome narrowing of the discount over the period. However, the market turmoil that accompanied the UK budget and the US election has since […]
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12 min read
Caledonia Investments – Addressing the discount
Addressing the discount On 26 November, Caledonia Investments (CLDN) released interim results covering the six-month period ended 30 September 2024. We provide some analysis of these in this note. There was a notable narrowing of the discount over the period. However, the market turmoil that accompanied the UK budget and the US election has since […]
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13 min read
Caledonia Investments – Addressing the discount
Addressing the discount On 26 November, Caledonia Investments (CLDN) released interim results covering the six-month period ended 30 September 2024. We provide some analysis of these in this note. There was a welcome narrowing of the share price discount to net asset value (NAV) over the period. However, the market turmoil that accompanied the UK […]
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15 Jul 2024 21 min read
Caledonia Investments – Time, well invested
Time, well invested Caledonia Investments (CLDN) is a self-managed trust that, at its heart, aims to be about backing companies, with strong market positions and fundamentals, for the long term. CLDN buys to hold, targeting long-term compounding real returns from its portfolio. It believes that this investment strategy means that it can ignore the gyrations […]
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22 min read
Caledonia Investments – Time, well invested
Time, well invested Caledonia Investments (CLDN) is a self-managed investment trust that, at its heart, is about backing companies, with strong market positions and fundamentals, for the long term. CLDN buys to hold, targeting long-term compounding real returns (after inflation) from its portfolio. Its investment strategy means that it can ignore the gyrations of fickle […]
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22 min read
Caledonia Investments – Time, well invested
Time, well invested Caledonia Investments (CLDN) is a self-managed trust that, at its heart, is about backing companies, with strong market positions and fundamentals, for the long term. CLDN buys to hold, targeting long-term compounding real returns from its portfolio. Its investment strategy means that it can ignore the gyrations of fickle markets, exploiting secular […]
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08 Jun 2020 8 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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06 Dec 2019 5 min read
QuotedData’s economic roundup – December 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Jun 2019 5 min read
QuotedData’s economic roundup – June 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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19 Dec 2018 1 min read
QuotedData’s economic roundup – December 2018
QuotedData’s economic roundup – December 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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11 Jun 2018 2 min read
QuotedData’s Economic round up – June 2018
QuotedData’s Economic round up – June 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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10 Nov 2017 1 min read
QuotedData investment companies roundup – November 2017
QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford. November Investment Companies Roundup Globalworth Real Estate’s discount was eliminated after it announced […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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14 Jun 2017 1 min read
QuotedData’s economic round up – June 2017
QuotedData’s economic round up – June 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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07 Dec 2016 1 min read
QuotedData’s round up of views on the global economy – December 2016
QuotedData’s collation of recent insights on markets and economies taken from comments made by chairman and managers of investment companies. december-economic-and-political-roundup
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27 Oct 2016 1 min read
Quarterly investment companies roundup – Third quarter 2016
Q3 saw the market adapt to life post the UK’s EU referendum. Sterling continued to fall but most stock markets stabilised and discounts narrowed across most sectors. While the US election is dominating headlines, it does not seem to be having much impact on markets so far. q3-quarterly-roundup
News
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28 Mar 2025 4 min read
Nervous about the US?
It has been a dramatic turn of events for the US over the past month. Having long defied the recession bells, which have been ringing for the majority of the world’s developed markets, growth expectations in the US have dropped significantly as President Trump’s scattergun trade polices begin to torpedo the economy. Multiple large US […]
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10 Feb 2025 3 min read
QuotedData’s morning briefing 10 February 2025 – BSRT, BGUK, SVM, BHMG/BHMU, CLDN, KPC, LABS
In QuotedData’s morning briefing 10 February 2025: Baker Steel Resources Trust (BSRT) has published a portfolio update and its NAV as at 31 January 2025 (89.1p per share), a decrease of 0.6% from the last published NAV at 31 December 2024, largely due to falls in the share prices of Tungsten West Plc and Metals […]
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07 Feb 2025 6 min read
Stormy waters for investment trusts: Navigating the crisis
HMS Investment Trust is facing turbulent waters. Not only are the sharks circling, but the icebergs are proliferating, while the regulator seems determined to put a hole in us below the waterline. The Financial Conduct Authority (FCA) recently hosted an open panel for industry members, focusing on a critical issue: the fate of the sector […]
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30 Nov 2024 1 min read
QuotedData’s weekly news show 29th November 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Harmony Energy Income (0:40) Gresham House Energy Storage (2:51) Caledonia Investments (5:40) This week we hosted a panel discussion between Thomas Moore from abrdn Equity Income, David Moss from CT UK High Income Trust […]
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26 Nov 2024 1 min read
Caledonia seeks to clear the way for more buybacks
Caledonia Investments is convening a meeting to ask shareholders to approve a ‘Rule 9 waiver’ – this is part of the Takeover Code. Currently, a ‘concert party’ of shareholders connected to the Cayzer family controls 49.49% of the trust’s shares and voting rights. Ordinarily, at its AGM it would ask shareholders to approve a Rule […]
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30 Aug 2024 3 min read
It’s a wonderful (Vanguard) Life
The Vanguard LifeStrategy Funds are a cornerstone in the retail and financial advisory sectors. Collectively, these funds offer five passive investment strategies that blend global equity and global bond index funds in varying proportions. The allocations range from 100% equity exposure to 20% equity and 80% bonds, with each fund adjusting its weighting in 20% […]
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19 Aug 2024 1 min read
Caledonia Investments adds to portfolio through stake in Direct Tyre Management
Caledonia Investments (CLDN) has invested £55m to acquire a majority stake in Direct Tyre Management Limited (DTM), the UK’s leading independent provider of outsourced tyre management services to fleet operators. The management team has reinvested alongside Caledonia to acquire 100% of the business from investors including Palatine Private Equity. The manager noted that the acquisition […]
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21 May 2024 2 min read
Steady year for Caledonia not reflected in share price
Caledonia Investments (CLDN) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of 7.4% slightly behind the benchmark return of 8.4%, although it remains well ahead over three, five, and ten year periods. Despite the solid NAV growth, the share price total return was -1.2%, leading […]
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17 May 2024 3 min read
QD view – Family fortunes
It is not a bad rule of thumb to invest in a similar way to people who already have a lot of money. Therefore, the logic of investing alongside in one of the investment trusts where a wealthy family has a large shareholding seems inescapable. But investors need to ensure their interests are looked after […]
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08 Apr 2024 1 min read
QuotedData’s morning briefing 8 April 2024 – CLDN, DORE
In QuotedData’s morning briefing 8 April 2024: Caledonia Investments (CLDN) has provided a quarterly NAV and portfolio update, for the period ending 31 March 2024, ahead of its full year results to be released in May. CLDN has a NAV of £3.0bn, equal to £53.69 per share, which represents a 12 month total return of […]
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05 Sep 2023 1 min read
QuotedData’s morning briefing 5 September 2023 – CLDN, BOOK, RTW, HGT
In QuotedData’s morning briefing for 5 September: Caledonia Investments (CLDN) announced that it has agreed terms for the sale of its majority stake in Seven Investment Management , a vertically integrated retail wealth management business, to Ontario Teachers’ Pension Plan Board, a global investor with approximately C$250 billion in net assets. Caledonia is expected to […]
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23 May 2023 1 min read
Widening discount negates outperformance from Caledonia
Caledonia Investments has published results for the year ended 31 March 2023. Over the period, the company generated an NAV total return of 5.5%, which compares to a 2.9% return on the All-Share Index. The dividend was increased by 4% to 67.4p. The chair’s statement makes no mention of the trust’s share price or discount […]
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20 Apr 2023 1 min read
Caledonia buys AIR-serv
Caledonia Investments has acquired a majority stake in the European division of AIR-serv, comprised of Airvending Limited and AIR-serv Netherlands B.V. Headquartered in Wigan, Lancashire, AIR-serv Europe is a leading designer and manufacturer of air, vacuum and jet wash machines which it provides as turn-key solutions to fuel station forecourt operators across Western Europe. The […]
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11 Apr 2023 1 min read
QuotedData’s morning briefing 11 April 2023
Caledonia Investments (CLDN) provided a portfolio update to March 31 2023. The company announced that the NAV total return over the past 12 months was 5%. While this is below its long-term target of inflation plus 3% to 6%, it compares favourably to the FTSE All Share return of 2.9% for the same period. This […]
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26 May 2022 5 min read
Strong performance and a special dividend from Caledonia
Over the year to end March 2022, Caledonia Investments produced an NAV return of 27.9%. The dividend was increased by 3% to 64.8p (55th consecutive year of dividend increases), but on top of that the board is proposing a special dividend of 175p. The special dividend is being funded from the profits of two large […]
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22 Dec 2021 3 min read
QuotedData’s morning briefing 22 December 2021
In QuotedData’s morning briefing 22 December 2021: Syncona (SYNC) has reached an agreement to sell its portfolio company Gyroscope Therapeutics Holdings to Novartis, a leading global medicines company, for up to $1.5bn on a cash and debt free basis, with an upfront payment of $800m and up to $700m (£528 million) potentially due upon the […]
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23 Nov 2021 1 min read
QuotedData’s morning briefing 23 November 2021
In QuotedData’s morning briefing 23 November 2021: Will Wyatt will step down as chief executive of Caledonia Investments (CLDN) in July next year. Will’s successor is Mathew Masters, currently head of Caledonia quoted equity. Mat will join the board as chief executive designate on 1 April 2022. Before joining Caledonia in 2005, Mat worked at […]
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17 Nov 2021 2 min read
QuotedData’s morning briefing 17 November 2021
In QuotedData’s morning briefing 17 November 2021: Caledonia (CLDN) has agreed terms to divest its investment in BioAgilytix, a leading provider of bioanalytical testing for large molecule research and development, as private equity firm Cinven, becomes the new lead investor. The transaction is subject to US anti-trust approvals and is expected to complete in December […]
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01 Jun 2021 2 min read
Caledonia Investments sells Deep Sea Electronics
Caledonia Investments sells Deep Sea Electronics – Caledonia Investments has sold its largest portfolio holding (as at 30 April), Deep Sea Electronics to Genarac Holdings, a leading global designer and manufacturer of energy technology solutions. DSE was acquired by Caledonia in October 2018 and has grown strongly since then. The company said it has secured […]
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27 May 2021 3 min read
Caledonia Investments achieves 54th annual increasing dividend
Caledonia Investments achieves 54th annual increasing dividend – Caledonia Investments has published results for the year ended 31 March 2021. The NAV increased by 23.6% compared to the previous year, to 4000p while the NAV total return was 25.9%. This compares to a NAV total return of -8.1% for the year ended 31 March 2020. The company achieved its 54th […]
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07 May 2021 3 min read
QD view – how the top 10 trusts have changed
I was playing with the QuotedData data pages this week – looking at factors such as widest discounts and highest yields – then I alighted on the 10-largest funds by market cap and I have to admit that some names on that list were a surprise to me. Fortunately, I had some old data from […]
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18 Mar 2021 2 min read
QuotedData’s morning briefing 18 March 2021
In QuotedData’s morning briefing 18 March 2021: NB Distressed Debt says its investment manager, Neuberger Berman Europe Limited, has offered to waive its entitlement to receive its management fee with immediate effect. The chairman says “The fee waiver recognises that it is taking longer than expected to fully realise the company’s assets due to a number […]
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27 May 2020 2 min read
QuotedData’s morning briefing 27 May 2020
Latin America is now the centre of the pandemic. While Brazil has been in the headlines most, there are concerns that Venezuela is particularly unprepared to cope, were cases to escalate. The BBC reports that on a per capita basis, Ecuador is the worst affected country in the region. Flexible investment company, Caledonia (CLDN), reported […]
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26 Nov 2019 1 min read
QuotedData’s other news 26 November 2019
In QuotedData’s other news 26 November 2019 – Schroder Real Estate (SREI) reported half-year results to 30 September 2019, with its real estate portfolio posting a total return of +2.5% over the period versus +1.0% by the MSCI/IPD Benchmark Index. There were £45 million of disposals during and post the period end. The company added that […]
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10 Jul 2019 1 min read
Caledonia completes Stonehage Fleming deal
Caledonia completes Stonehage Fleming deal – Caledonia Investments announced in December 2018 that it had agreed to acquire a minority stake in Stonehage Fleming & Family Partners Limited. Stonehage Fleming is a leading independently owned family office. The deal was structured as part of a tender offer and share buy-back offer made to Stonehage Fleming’s existing […]
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29 May 2019 1 min read
QuotedData’s other news 29 May 2019
In QuotedData’s other news 29 May 2019: TriplePoint Social Housing REIT has bought 12 supported housing properties, exchanged contracts on a further three supported living properties and acquired the land and entered into forward funding arrangements to develop another three supported housing schemes, comprising 178 units in total, for an aggregate commitment of approximately £39.5m. Harbourvest Private […]
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07 Mar 2019 1 min read
Caledonia Investments acquires minority stake in BioAgilytix
Caledonia Investments acquires minority stake in BioAgilytix – Caledonia has invested a minority stake in US-based pharmaceutical services business BioAgilytix, which specialises in bioanalytical testing solutions for molecule research and development. Caledonia has invested alongside Cobepa (a Belgium and US-based investment company), which it has a 5% shareholding in. BioAgilytix has offices in Raleigh, North […]
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21 Dec 2018 2 min read
Caledonia buys Stonehage Fleming stake
Caledonia buys Stonehage Fleming stake – Caledonia Investments plc has agreed terms to acquire a minority stake in Stonehage Fleming Family & Partners Ltd, one of the world’s leading independently owned family offices. Stonehage Fleming was formed in 2015 and is the largest family office in EMEA and the second largest non-bank provider of family office […]
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23 Oct 2018 2 min read
Caledonia selling Choice Care Group
Caledonia selling Choice Care Group – Caledonia Investments is selling Choice Care Group, a provider of residential and supported living services for people with learning disabilities and mental health conditions, to iCON Infrastructure Partners, IV L.P., a fund advised by iCON Infrastructure LLP, an independent infrastructure investment group with approximately EUR2.5bn of assets under management. Choice was […]
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15 Oct 2018 2 min read
Caledonia acquires Deep Sea Electronics
Caledonia acquires Deep Sea Electronics – Caledonia Investments (CLDN) has announced that it has acquired a majority stake in Deep Sea Electronics Ltd (DSE) The transaction values DSE at £162.0m. About DSE DSE is a UK based designer and manufacturer of controllers for diesel-powered electricity generators and intelligent battery chargers and is described in the announcement as world leading in this […]
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01 Aug 2018 2 min read
Caledonia adds to investment in 7IM to complete acquisition of TCAM
Caledonia adds to investment in 7IM to complete acquisition of TCAM – Seven Investment Management has been able to complete the acquisition Of TCAM with the backing of a further £14.0 injection of cash from Caledonia Investments (CLDN) Seven Investment Management (7IM) is an investee company of Caledonia. Prior to the transaction, 7IM was Calidonia’s second largest position at approximately […]
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13 Jul 2018 1 min read
Caledonia buys Cooke Optics
Caledonia buys Cooke Optics – Caledonia Investments has acquired a majority stake in Cooke Optics Group, the UK manufacturer of premium-end cinematography lenses for the film, television and advertising industries, in a transaction which values the business at GBP96.5m. Founded as a lens manufacturer in 1886, Cooke has been at the centre of the film making business […]
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30 Oct 2017 2 min read
Caledonia sells the Sloane Club
Caledonia sells the Sloane Club – Caledonia Investments has today sold its 100% interest in The Sloane Club, the private members club located in the heart of Chelsea, London, to Sloane Investment Limited, a special purpose vehicle jointly owned by JK Chelsea Holdings Limited, an affiliate of the Queensway Group, and Clearbell Property Partners III […]
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15 Aug 2017 2 min read
Weaker H1 for Caledonia as mine focuses on essential reconfiguration to facilitate longer-term growth
Caledonia Mining has reported comprehensive H1 2017 earnings of US$4.2m against US$5.4m for the same period of 2016. EPS was US27.6c against US38.3c a year earlier, a decrease of 28%. Adjusted EPS was US45.7c against US43.0c in H1 2016. Net profit attributable to Caledonia’s shareholders decreased from US$4.2m in H1 2016 to US$3.0m in H1 […]
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04 Jul 2017 1 min read
Caledonia Mining increases quarterly dividend
Caledonia Mining has declared a quarterly dividend of US6.875c per share, a fivefold increase from the US1.375c per share declared in previous quarters. The increase reflects the recent 5-for-1 share consolidation, meaning that the overall aggregate dividend amount is maintained. The company expects to maintain the dividend at this quarterly rate, which represents an indicative […]
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30 Jun 2017 1 min read
Caledonia Investments reduces holding Cobehold realising €58.2m
Caledonia Investments has announced that it has reduced its holding in Cobehold SA (Cobehold) from 8.7% to 5.4%, realising €58.2m. As a result of a forward foreign exchange contract previously put in place to hedge the proceeds from the anticipated sale, Caledonia says it will receive £50.6m. Cobehold is the holding company of Cobepa SA, […]
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25 May 2017 5 min read
Caledonia to pay £1 special dividend
Caledonia’s net asset value per share total return was 18.0% for the year ended 31 March 2017, following 2.6% for the previous year. All four of its investment pools produced double digit returns. Investment income for the year was GBP47.3m, a fall of GBP3.4m compared with the unusually high level of the previous year. Additionally, following […]
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10 May 2017 1 min read
Caledonia lowers Blanket production guidance for 2017
Caledonia Mining has lowered its gold production guidance for 2017 from 60koz to 52-57koz. The company cites lack of capacity underground to transport material while capital development to achieve the long-term goal of 80koz of gold production is underway. Management has concluded that, in the long term interests of the business, the 2017 production tonnage […]
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11 Jan 2017 1 min read
Caledonia Mining record quarterly and annual gold production
Caledonia Mining (CMCL:AIM) (CAL:TSX) The company produced approximately 13,591 oz of gold in Q4 2016 from its 49% owned subsidiary, the Blanket Gold Mine in Zimbabwe. Production represented an 18% increase over Q4 2015 and a 1.2% increase over Q3, 2016. Full year production was approximately 50,351 oz of gold, which set a new record, […]
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19 Dec 2016 1 min read
Caledonia sells its stake in Park Holidays UK for £197m in cash
Caledonia Investments has announced that it has agreed terms for the sale of Park Holidays UK, reportedly the UK’s third largest holiday park operator, to Tiger Bidco Limited, a special purpose vehicle incorporated by Intermediate Capital Group plc, for a headline enterprise value of £362m. Caledonia says that it will receive £197m in cash, net […]
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24 Nov 2016 3 min read
Caledonia returns 6.7% in first half
Caledonia says its investment portfolio has delivered a 6.7% NAV total return in the six months ended 30 September 2016. They benefited from holding dollar and euro denominated investments following the devaluation of sterling. Income totalled GBP20.3m for the half year. This is slightly lower than the comparable period in 2015, which included a one-off […]
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14 Nov 2016 1 min read
Caledonia Mining’s quarterly EPS up 59%
Caledonia Mining has reported adjusted EPS of US4.4c for Q3 16, a 59% increase on Q3 15, taking EPS for the year to date to US13.0c, from US7.2c in 2015. The improved performance comes on the back of a 23% increase year-on-year in gold production at the Blanket mine to 13.4koz, taking the total for […]
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01 Aug 2016 1 min read
Caledonia upgrades and expands gold resources at Blanket mine
Caledonia Mining has updated gold resources at its 49%-owned Blanket mine, in Zimbabwe, after a six-month drilling programme in the deeper areas of the mine. It has upgraded 343 kt from Inferred to Indicated, bringing a total of 48 koz of gold into the higher confidence category, and has added 1.28 Mt of new Inferred […]
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06 Jul 2016 2 min read
Caledonia buys Liberation pubs and drinks business
Caledonia Investments has announced that it has agreed terms to acquire The Liberation Group Limited, the Channel Islands’ market leading pub, restaurant and drinks business, from LGV Capital, part of Legal & General Capital, the principal investment arm of Legal & General Group, in a transaction which values Liberation at GBP118m. Led by Chief Executive […]
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19 May 2016 2 min read
Caledonia sticking to its strategy
Caledonia delivered a positive net asset value per share total return of 2.6% for the year ended 31 March 2016, compared with 14.2% for the previous year. Over the year, the FTSE All-Share Total Return fell by 3.9%, though the S&P 500 remained flat. The Chairman emphasises though that they do not seek to benchmark performance […]
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03 May 2016 1 min read
Caledonia sells Bowers & Wilkins
Caledonia Investments has announced that it has sold its 20% stake in B&W Group Limited (“Bowers & Wilkins”), the designer, manufacturer and distributor of high-end audio equipment, for the sterling equivalent of £24m in cash, together with payment of an accrued dividend of £0.5m, as part of the wider sale of Bowers & Wilkins to EVA […]
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21 Dec 2015 1 min read
Caledonia completes Gala Bingo acquisition
On 26 October 2015, Caledonia Investments announced that it had agreed to acquire Gala Bingo Holdings Limited, the UK’s largest retail bingo operator, from Gala Coral Group, in a transaction which valued the business at £241m. The acquisition was conditional on change of control approval by the Gambling Commission, which has now been granted, and […]
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19 Nov 2015 2 min read
Caledonia bolstered by the performance of its unquoteds
Caledonia Investments has released its interim report for the six-months ended 30 September 2015. During the period, the company’s NAV total return per share was -3.8%. The share price also fell (4.4%) and, at the half-year end, the discount was 21.0%, slightly improved on the 21.5% at the beginning of the period. The company says […]
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26 Oct 2015 1 min read
Caledonia buys Gala Bingo
Caledonia Investments has agreed terms to acquire Gala Bingo Holdings Limited (“Gala Bingo”), the UK’s largest retail bingo operator, from Gala Coral Group Limited (“Gala Coral”) in a transaction which values the business at £241m. Led by Chief Executive Officer, Simon Wykes, and Chief Finance Officer, Alex Wood, Gala Bingo has a 38% share of […]
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28 Sep 2015 1 min read
Caledonia Investments sells TGE Marine for €106.9m
Caledonia Investments has announced the sale of is 67.9% equity stake in TGE Marine for €106.9m (£78.7m) net of transaction expenses. TGE provides engineering, procurement and construction supervision solutions to the global cryogenic gas markets. This includes the design and supply of gas carriers, fuel gas systems and offshore units. It specialises in cargo handling […]
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13 Aug 2015 1 min read
Caledonia’s earnings hit by higher costs and lower gold price
Caledonia Mining’s earnings fell 59% to Canadian cents 3.4/share in H1 2015 (adjusted: Canadian cents 5.2/share), as gold production at its 49%-owned Blanket mine, in Zimbabwe, dipped to 20.4 koz (H1 2015: 21.5 koz), AISC rose 11%, to US$984/oz, and the gold price received was lower at US$1,187/oz gold. Costs rose as a result of […]
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22 Jun 2015 1 min read
Caledonia buys 7 investment management
Caledonia is buying a majority stake in 7 investment management in a deal that values the business at £100m. 7IM was established in 2002 by its co-founders, Chief Executive Officer, Tom Sheridan, and Head of Corporate Development, Justin Urquhart Stewart, along with their Chief Finance Officer, Charles Sparrow, and has grown from its seven founder […]
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27 May 2015 1 min read
Caledonia posts good results on back of unquoteds and funds
Caledonia’s net assets value total return over the year ended 31 March 2015 was 14.2%. They aim to generate returns of RPI+3% to RPI+6% per annum over a ten year period The dividend was increased by 3.1% to 50.6p marking the 48th year of consecutive dividend increases. The portfolio, before management expenses and other net […]
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02 Dec 2014 1 min read
The alternative plays in investment trusts
Source: http://www.moneymarketing.co.uk/news-and-analysis/analysis/the-alternative-plays-in-investment-trusts/2016533.article Income-seeking investors would do well to look at the alternative plays on offer in the investment companies space, such as renewable energy and asset leasing With interest rates held so low for so long, it is not surprising investors have been looking for alternative ways to generate income. That search is only set to […]
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25 Nov 2014 1 min read
Caledonia sitting on sizeable war chest
CLDN : Caledonia sitting on sizeable war chest Caledonia’s net asset value rose by 4.6% in total return terms over the half year to the end of September 2014. The interim dividend was increased from 13.4p to 13.8p. Caledonia, which organises its portfolio into a number of discrete pools, says that the growth came from the […]
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28 May 2014 1 min read
Caledonia Investments : CLDN – final results
Caledonia Investments‘ numbers for the year ended 31 March 2014 show a 14.9% total return on net asset value. The dividend was increased from 47.2p to 49.1p. Notable transactions in the portfolio included the disposals of Amber Chemicals and Oval, the insurance broker, and the acquisition of Park Holidays and Choice Care Homes. Notable contributors to […]
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01 Apr 2014 1 min read
Caledonia Investments : CLDN – disposal
Caledonia Investments has sold its investment in The Amber Chemical Company for £23m – well up on its £15.2m book value as at the end of September 2013.
In The Press
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18 Mar 2025 1 min read
Are wealth preservation trusts holding up during the market sell-off?
by Val Cipriani, Investors Chronicle, March 18, 2025: Shares in capital preservation investment trusts have stayed broadly flat during the latest market sell-off, providing better shelter than during the 2022 bear market. The three defensive wealth preservation trusts, Capital Gearing (CGT), Personal Assets (PNL) and Ruffer Investment Company (RICA), had around 30 per cent of […]
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29 Nov 2024 1 min read
Which undervalued trusts could rerate in 2025?
By Jennifer Hill, Investment Trust Insider, 29 November 2024: Investment trust discounts are heading in the right direction, having narrowed by almost four percentage points from their lows in October last year, but they still have plenty of ground to make up. At the end of October 2023, amid rising interest rates and conflict in […]
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18 Nov 2024 1 min read
It’s time to bag an investment trust bargain – our experts reveal the ones they’d pick right now
By ROSIE MURRAY-WEST, Mail on Sunday, 17 November 2024: Everybody loves a good discount and that’s exactly what is being offered to buyers of investment trusts. These stock market-listed investment companies offer access to a world of tempting portfolios, from handpicked selections of UK shares to clusters of shares in income-generating renewable energy firms. Investment […]
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27 Jun 2023 1 min read
Are ‘dividend hero’ investment trusts keeping up with inflation?
by Kyle Caldwell from interactive investor, 27 June 2023: Research for interactive investor examined whether 19 investment trusts have beaten inflation over the past five years in terms of dividend growth, share price and net asset value (NAV) returns. The minimum aim of every investor should be to ensure that over the long term the […]
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08 Jun 2023 1 min read
The Dividend Heroes that grew their pay-outs the most
By Tom Aylott, Reporter, Trustnet, 8 June 2023: Dividend growth is an appealing attribute that those investing in trusts for income often look out for, but Trustnet found that seeking dividend growth alone can be littered with irregularities. However, the AIC’s 19 Dividend Heroes have increased their pay-outs for a minimum of 20 years, providing […]
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10 May 2023 1 min read
The eight income investment trust heavyweights: how sustainable are the dividends?
by Jennifer Hill from interactive investor, 10 May 2023: Eight investment trusts have half a century or more of increasing payouts to investors but deeper analysis is required to ascertain their true income prowess, reports Jennifer Hill… But dividend growth alone does not make a trust the best home for income seekers’ capital. A deeper […]
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20 Apr 2023 1 min read
Delving into the dividend: nine income trusts delivering top total returns
by Kyle Caldwell from interactive investor, 19th April 2023: There are sound reasons to look beyond ‘dividend hero’ investment trusts, as this research shows. Many investors like to buy funds and investment trusts that invest in dividend-paying companies or income-producing bonds… Investors should look beyond the dividend heroes However, investors should not just simply stick […]
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31 May 2022 1 min read
Investment trust insider on Caledonia
Investment trust insider on Caledonia – James Carthew: More juicy dividends would enhance Caledonia’s appeal Amid all the doom and gloom Caledonia Investments (CLDN) has reported decent results for the 12 months to 31 March that has left its market valuation nudging £2bn. Over the year the global multi-asset trust generated a total underlying investment […]
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07 Feb 2022 2 min read
Gateway to private markets
Hannah Smith, AIC’s Compass, 4 February 2022: Unquoted companies offer the exciting potential for unbridled growth, albeit with a high level of stock-specific risk. With companies taking longer to reach IPO stage, there are more opportunities in this space, and now even mainstream investment trusts are making unlisted businesses a significant part of their portfolios. […]
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11 May 2020 2 min read
Preserving family fortunes can protect yours too
Trusts set up to preserve fortunes of rich families can protect YOURS too: here’s how you can invest By JEFF PRESTRIDGE FOR THE MAIL ON SUNDAY PUBLISHED: 22:16, 9 May 2020 | UPDATED: 09:01, 10 May 2020 Terry Smith is one of the shrewdest investors to come out of this country in a long, long time – although he now […]
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28 Mar 2019 1 min read
AIC highlights most consistent income trusts
AIC highlights most consistent income trusts – QuotedData’s James Carthew is quoted in this article by Leonora Walters The Association of Investment Companies (AIC) has published its annual ‘dividend heroes’ survey – a list of the investment trusts that have increased their dividends for 20 or more consecutive years. This year, there are 20 dividend […]
