Overview
Phaunos Timber is a self managed investment company which aims to provide shareholders with attractive long term returns through exposure to a global portfolio of timberland and timber-related investments.
The Company has a concentrated portfolio, including investments in New Zealand, North America, South America, Africa, and Asia.
Research History
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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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12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 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 September Trian Investors 1 is a new fund that will adopt […]
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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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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 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 June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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13 Mar 2018 1 min read
QuotedData’s investment companies roundup – March 2018
QuotedData investment companies roundup – March 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 February 2018. Kindly sponsored by Baillie Gifford. Equity markets continued to run up in early February, supported by strong corporate earnings […]
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07 Feb 2018 2 min read
QuotedData investment companies roundup – February 2018
QuotedData investment companies roundup – February 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 January 2018. Kindly sponsored by Baillie Gifford. The oil price was up again over the month and this helped propel […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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03 Aug 2017 1 min read
QuotedData investment companies roundup – August 2017
QuotedData investment companies roundup – August 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 July 2017. Kindly sponsored by Baillie Gifford. August Investment Companies Roundup Monthly NAV/Price moves: A couple of themes stand out […]
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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 investment companies roundup – June 2017
QuotedData investment companies roundup – June 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 May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
News
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10 Sep 2021 2 min read
QD view – Tree time
In a busy week, one of the more interesting announcements was an intention to float notice from Foresight Sustainable Forestry Company. The company hopes to raise £200m and invest that in UK forestry assets. It thinks it can generate rolling annual returns of 5% above inflation (as measured by CPI) once it has got its […]
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28 Sep 2018 1 min read
Phaunos Timber – Stafford’s offer has been accepted by shareholders
Phaunos Timber – Stafford’s offer has been accepted by shareholders – Stafford Bidco, the entity behind the offer for Phaunos Timber Fund Limited (PTF) has received valid acceptances from a workable majority of shareholders to be able to declare that their offer has been accepted. Stafford first offered to purchase Phaunos in June 2018 – to read about […]
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21 Sep 2018 1 min read
Catchmark will not bid for Phaunos
Catchmark will not bid for Phaunos – Stafford bid now the only one on the table. “Further to the announcement by CatchMark Timber Trust, Inc. (“CatchMark” or the “Company”) on 6 September 2018, CatchMark announces that, following discussions with the Board of Phaunos, it does not intend to make an offer for Phaunos. As a […]
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14 Sep 2018 1 min read
Stafford tops up Phaunos bid but is it enough?
Stafford tops up Phaunos bid but is it enough? – we have a new development in the ongoing saga that has enveloped Phaunos Timber Fund. In response to the announcement of a potential new offer for the trust from Catchmark Timber, Stafford Capital Partners have upped their bid to $0.52 per share. This is still well short […]
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10 Sep 2018 1 min read
Phaunos Timber gets new offer from Catchmark Timber Trust
Phaunos Timber gets new offer from Catchmark Timber Trust – CatchMark Timber Trust, Inc. (NYSE: CTT) announced today the company is evaluating a potential offer to acquire Phaunos Timber Fund. If completed, the transaction would significantly increase CatchMark’s market capitalization and enterprise value. At current stock prices, the combined company would have an $850 million equity value and $1.3 billion enterprise value. […]
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28 Aug 2018 1 min read
Phaunos now embroiled in Matariki lawsuit
Phaunos now embroiled in Matariki lawsuit – Phaunos Timber Fund says that it has been made aware by Rayonier Canterbury LLC that Rayonier has issued proceedings in the Auckland High Court alleging a breach by Phaunos of confidentiality, notice and consultation obligations in the shareholders agreement between the parties in relation to their respective interests in the Matariki […]
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16 Aug 2018 5 min read
Stafford Capital responds to Phaunos’ defence document
Stafford Capital responds to Phaunos’ defence document – on 14th August 2018, the Chairman of Phaunos Timber (PTF) sent a letter to Phaunos Shareholders, giving them an update on plans to wind up the company and to reject the cash offer made on 3rd July by Stafford Capital Partners. Click here to see a copy of the letter In […]
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14 Aug 2018 4 min read
Phaunos Timber rejects Stafford’s Offer
Phaunos Timber rejects Stafford’s Offer – the Chairman of Phaunos Timber (PTF) has sent a letter to Phaunos Shareholders, giving them an update on plans to wind up the company and to reject the cash offer made on 3rd July by Stafford Capital Partners. This is the latest communication from the Board of Phaunos in a long running saga, where […]
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11 Jul 2017 1 min read
Phaunos Timber manager resigns
Phaunos Timber manager resigns – following the loss of the continuation vote, the Manager of Phaunos Timber Fund Limited, Stafford Capital Partners Limited, has informed the Board of Phaunos that it will resign with effect from the Company’s General Meeting to be held in August 2017. From that date a six month notice period will […]
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29 Jun 2017 5 min read
Miton Global discount narrows on strong performance
For the year ended 30 April 2017, Miton Global Opportunities net asset value per share rose to 248.7p (2016: 182.4p), a total return of 36.3% (2016: 0.4%). The share price ended on an all-time high of 242.3p (2016: 164.3p), a total return of 47.5%. The fund has outperformed a number of other comparators such as the […]
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20 Jun 2017 2 min read
Phaunos Timber Fund bites the dust
Phaunos Timber Fund bites the dust – the Board of Phaunos Timber Fund Ltd has announced that at the Annual General Meeting held at 11.00 a.m. on 19 June 2017, all resolutions were duly passed on a poll with the exception of Resolution 7 (the Continuation Vote). As Resolution 7 has not been passed, it is the Board’s […]
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15 May 2017 2 min read
Phaunos may benefit from tariffs on Canadian lumber
Phaunos Timber Fund says it thinks it is well positioned to benefit from the Trump administration’s imposition of new anti-subsidy tariffs on Canadian sawtimber. The move escalates a long-running trade dispute between the two countries, which is based on claims by US producers that their Canadian competitors are effectively subsidized. Their argument is that Canadian […]
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25 Apr 2017 2 min read
Welcome return to profitability for Phaunos Timber Fund
Phaunos Timber Fund Limited has announced its audited results for the year ended 31 December 2016. It made a net profit of US$18.3 million for the year compared to a net loss of US$10.5 million in the prior year. Total net assets now stand at US$301.3 million so that the NAV per share increased from US$0.49 as at […]
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09 Dec 2016 1 min read
Phaunos Timber outlines new strategy
The Board of Phaunos Timber has published a presentation that outlines a new strategy for the company. In summary the presentation covers the following: The intention of the Phaunos Board to propose a resolution for the continuation of the company for a further 5 years The potential to provide yields of 3-5% and NAV growth […]
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23 Aug 2016 1 min read
Phaunos cash pile rising
During the six months to 30 June 2016, Phaunos Timber Fund’s unaudited NAV per share has increased by 10.2% from 49 cents to 54 cents. The Group’s total NAV has also increased by US$20.6 million or 7.4% to US$299.4 million from US$278.8 million at 31 December 2015. The chairman says that while this includes a […]
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01 Jul 2016 3 min read
Miton Global Opportunities flat after rollercoaster year
Miton Global Opportunities has released results for the year ended 30 April 2016. The net asset value per share rose to 182.4p, a total return of 0.4% – there is no dividend. The manager says the company’s shares ended the financial year standing at an all-time high, moving from 162.75p to 164.25p during the year. […]
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27 Apr 2016 1 min read
Phaunos Timber sells Green Resources stake
The Board of Phaunos Timber announces the sale of its 14% stake in Green Resources AS for NOK 69.9 million (US$8.5 million at USD:NOK 8.2). The sale is consistent with Phaunos’ strategy of rebalancing its portfolio to one that comprises predominantly higher yielding, lower risk assets. The sale follows the recent distribution received from the […]
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22 Apr 2016 2 min read
Phaunos Timber stable and profitable at the operating level
Phaunos Timber Fund says its NAV decreased from US$321.3 million or US$0.57 per Ordinary Share to US$278.8 million or US$0.49 per Ordinary Share, a decrease of 13% over the course of 2015, reflecting the weakness of the company’s main operating currencies against the US Dollar. Revenue from timber operations and investment income increased from US$11.7 […]
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04 Jan 2016 1 min read
Phaunos sells Green Nature Forestry China
The Board of Phaunos Timber Fund has announced the sale of 100% of the equity shares of Green Nature Forestry Company Limited for USD 2.85m. The sale includes properties owned by Green China (Jiangxi) Forestry Company Limited, a wholly owned subsidiary of GNFC established in Nanchang, Jiangxi, China comprising of approximately 58,000 mu or 4,000 ha of […]
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18 Dec 2015 1 min read
Phaunos Timber sells three Uruguayan assets
The Board of Phaunos Timber Fund has announced the sale of three of the nine properties that comprise the Pradera Roja estate, in Uruguay, for USD 4.2 million. The sale is in line with the strategy announced earlier this year, of rebalancing the Company’s portfolio to one that has more mature, yield producing assets. The […]
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18 Nov 2015 1 min read
Phaunos Timber sells two Brazilian teak properties for US$2.5m
Phaunos Timber has announced the sale of two of its four teak plantation assets, from the Brazilian Eucateca estate, for US$ 2.5m. According to the company, the combined properties sold represent 32% of the total 2,193 net planted hectares of teak on the estate and the sale involves an initial payment of US$ 0.5m with […]
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17 Nov 2015 1 min read
Phaunos Timber signs pulpwood supply agreement
The Board of Phaunos Timber Fund has announced confirmation of a forward pulpwood sale agreement for Pradera Roja, a plantation they own in Uruguay, which will realise total payments of $2.4m. The agreement is based on Pradera Roja receiving up-front payments for eucalypt pulpwood that will be harvested up to 2022. Stephen Addicott of Stafford Timberland, the […]
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20 Aug 2015 1 min read
Phaunos Timber hurt by strong dollar but becoming more profitable
Phaunos Timber reports on progress within the underlying portfolio for the first six months of 2015 but a fall in NAV on the back of the strengthening of the US dollar. At a timber operating level the Group showed a profit for the first time. This amounted to $1.7m for the period (30 Jun 2014: […]
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07 Aug 2015 1 min read
Phaunos jv partner pays of debt in NZ subsidiary
Phaunos Timber Fund Limited has announced that agreement in principle has been reached with Rayonier, Phaunos’ joint venture partner in the Matariki Forestry Group, for Rayonier to provide a capital infusion for the repayment of all outstanding amounts under its existing NZ$235m credit facility and for general purposes. The investment by Rayonier into the Matariki JV […]
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29 Apr 2015 1 min read
Phaunos pares back NAV to core
Phaunos Timber results for 2014 show the asset value falling from 78 cents to 57 cents and its share price falling from 49 cents to 37 cents. They aren’t paying a dividend. Part of the fall in the net asset value can be attributed to the dilutive issue of 30m shares at 40 cents during […]
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05 Aug 2014 1 min read
PTF : Phaunos Timber Fund needs to raise cash
Phaunos Timber Fund needs to raise cash as one of its holdings, Greenwood Timber, looks likely to make a cash call on the company and one of its main revenue producing assets, the New Zealand timber plantation at Mataraki, has suspended its dividends as a consequence of falling timber prices in China (as cautioned earlier […]
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24 Jun 2014 3 min read
Phaunos Timber Fund : PTF – management changes
Phaunos Timber Fund announced this morning that it intends to appoint Stafford Timberland Limited as managers of the fund. They want to press on with restructuring the company and stick to the planned continuation vote in 2016. Phaunos say they will not be updating the net asset value before the annual valuation date at 31 […]
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02 May 2014 1 min read
Phaunos Timber : PTF – update on Green Resources
Phaunos Timber has announced that Green Resources (a company that Phaunos Timber owns 26% of) is buying Global Solidarity Forest Fund (a company with plantations in Mozambique adjacent to Green Resources’ own forests). The deal will dilute Phaunos Timber’s holding down to 18.9% but is being struck at a price for Green Resources equivalent to […]
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14 Dec 2013 1 min read
Miton Worldwide Growth : MWGT
Half year results to 31 October 2013 show an NAV uplift of 6.5% and an increase in the share price of 5.6%. MWGT’s benchmark is the return on Sterling LIBOR +2% (equal to 1.3% over the period – so MWGT comfortably outperformed its benchmark). MWGT’s return lagged that of the FTSE All-Share and MSCI World Indices […]
