Overview
Menhaden Resource Efficiency (formerly Menhaden and prior to that Menhaden Capital) is an investment trust that aims to generate long-term shareholder returns, predominantly in the form of capital growth, by investing in businesses and opportunities that are delivering or benefiting from the efficient use of energy and resources. The company’s portfolio has three main allocations: listed equity, yield assets and special situations and is focused predominantly on developed markets. The company invests in both listed and unlisted investments, as well as external funds. The manager aims to pursue an active, non-benchmarked total return strategy, and follows a relatively concentrated high conviction approach with typically 20 to 25 holdings.
You can access the company’s website here
Fundamentals
Price
Research History
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14 Jun 2024 1 min read
Interview with Luciano Suana from Menhaden Capital Management
In this week’s show, James Carthew spoke to Luciano Suana from Menhaden Capital Management. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer to […]
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07 May 2020 8 min read
QuotedData’s Investment Companies Roundup – May 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over April: An update note […]
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4 min read
QuotedData’s Economic Roundup – May 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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12 Nov 2019 5 min read
QuotedData’s investment companies roundup – November 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over October, we published notes on Pacific Horizon, Seneca Global Income & Growth, Premier Global Infrastructure, Polar Capital Global Financials, Ecofin Global Utilities and Infrastructure, Aberdeen Standard European Logistics Income and Herald. Additionally, as part of our enhanced coverage of the property sector, we launched […]
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15 Oct 2019 7 min read
Investment companies quarterly roundup – Third quarter 2019
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford New research Over the third quarter, we published notes on India Capital Growth, Jupiter Emerging & Frontier Income, Montanaro European Smaller Companies, JLEN Environmental Assets, Civitas Social Housing, JPMorgan Russian Securities, International Biotechnology Trust, Aberdeen Emerging Markets, Seneca Global Income & Growth, Standard Life Investments Property Income […]
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07 Oct 2019 6 min read
QuotedData’s economic roundup – October 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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19 Dec 2018 1 min read
QuotedData’s investment companies roundup – December 2018
QuotedData’s investment companies roundup – December 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 November 2018. Kindly sponsored by Baillie Gifford. Extract from ‘winners and losers’ The Californian wildfires took their toll on CatCo Reinsurance as it […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
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 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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08 Nov 2016 1 min read
QuotedData investment companies roundup – November 2016
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 2016. november-investment-companies-roundup-2
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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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23 Dec 2024 3 min read
Menhaden Resource Efficiency throws in the towel
Menhaden Resource Efficiency (MHN) is proposing a managed wind-down and return of capital to shareholders. Following an announcement on 16 September 2024 that it was reviewing its future options, MHN says that its board has concluded that it is in the best interests of shareholders as a whole to propose an orderly realisation of the […]
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16 Sep 2024 1 min read
Menhaden reviewing options ahead of continuation vote
In its interim accounts, covering the six-month period ended 30 June 2024, Menhaden Resource Efficiency reported an NAV per share total return of 7.2%. The share price over the same period rose from 100.8p per share to 102.5p, giving a share price total return of 2.6%. The trust uses a benchmark of RPI +3%. The […]
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01 Jul 2024 2 min read
QuotedData’s morning briefing 1 July 2024 – HGT, CORD, BPCR, PINT, APAX, MHN
In QuotedData’s morning briefing 1 July 2024: HG Capital Trust (HGT) has agreed to the sale of F24, a leading European software-as-a-service provider for Business Resilience solutions. The terms of the transaction have not been disclosed and completion is subject to closing conditions. However the transaction will value HGT’s investment in F24 at c.£18.4m. This would […]
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22 Apr 2024 2 min read
Menhaden Resource Efficiency NAV up 24% in 2023
Menhaden Resource Efficiency (MHN) released its annual results today, for the 12 month period ending 31 December 2023. Over the 12 months MHN reported a NAV total return of 23.8% and share price total return of 12.6%. Both represented an outperformance versus MHN’s benchmark, RPI +3%, which returned 8.4% over the same period. The lower […]
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1 min read
QuotedData’s morning briefing 22 April 2024 – MHN, SSIT, CHRY
In QuotedData’s morning briefing 22 April 2024: Menhaden Resource Efficiency (MHN) has announced that it has completed a new private investment with KKR in Avantus, the leading solar and energy storage developers in the United States. The initial investment of $17.5m equates to 10.0% of MHN’s NAV. The portfolio manager believes the deal is highly […]
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29 Mar 2023 2 min read
Tech wreck sinks Menhaden Resource Efficiency
Menhaden Resource Efficiency announced its results for the year ended 2022. The numbers do not make for great reading with NAV down 16.5% while shares fell 20.3%, offsetting their solid performance from the previous year. The discount fell steadily throughout the year, falling as low as 36% at one point. It has improved slightly from […]
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22 Feb 2023 3 min read
QuotedData’s morning briefing 22 February 2023
In QuotedData’s morning briefing 22 February 2023: The merger between Capital & Counties (CAPC) and Shaftesbury (SHB) has been cleared by the Competitions and Markets Authority (CMA). The merger is expected to complete on 6 March 2023. CAPC and SHB shareholders approved the merger at the respective shareholder meetings held on 29 July 2022. Primary […]
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14 Sep 2022 4 min read
QuotedData’s morning briefing 14 September 2022
In QuotedData’s morning briefing 14 September 2022: Middlefield Canadian Income (MCT) has posted its half-year results for the six months to 30 June 2022, during which time its NAV rose by 3.4% while its share price was also up by 2,5%. The Canadian stock market outperformed most global indices even though over the period. Two […]
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21 Apr 2022 2 min read
Menhaden discount widens further
Menhaden Resource Efficiency reports an NAV return for 2021 of 17.3% and a share price return of 13.0%. The discount widened to 28%, but the board is resisting share buybacks and instead hopes to narrow this by marketing the trust. There is a 0.2p dividend, enough to satisfy the minimum requirement to maintain investment trust […]
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08 Sep 2021 3 min read
QuotedData’s morning briefing 8 September 2021
In QuotedData’s morning briefing 8 September 2021: Vietnam Enterprise (VEIL) has posted its interim report for the six months to 30 June 2021, during which time it delivered 42%, outperforming its benchmark, the VN-Index Total Return in US dollar terms by 13.3%. There is no dividend for the period. The strong performance delivered by VEIL in […]
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09 Apr 2021 2 min read
QD View – Go Green?
QD View – Go Green? Impax Environmental Markets is doing very well but is it too popular? It has been a short week and a quiet week in the investment companies market. Funds continue to report results for 2020, however, and the one that stood out for me this week was Impax Environmental Markets. Shareholders […]
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08 Apr 2021 1 min read
Menhaden let down by wide discount
Menhaden’s results for the year ended 31 December 2020 have been published. In NAV terms, the company made reasonable progress, with a total return of 13.2%. However, a widening discount left shareholders with a return of 3.0%. There is no dividend. The board has opted to drop the comparison with the MSCI World Total Return Index […]
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25 Sep 2020 2 min read
QuotedData’s morning briefing 25 September 2020
In QuotedData’s morning briefing 25 September 2020: Menhaden has published its interim results for the six months ended 30 June 2020. During the first half of the year, Menhaden’s NAV per share fell 4.3% on a total return basis (2019: rose 13.0%), while the market value of the Company’s shares decreased by 13.0% (2019: increased […]
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02 Apr 2019 6 min read
Menhaden baled out by X-ELIO write up
Menhaden baled out by X-ELIO write up – Menhaden has released results for the year ended 31 December 2018. In an environment of falling markets, the NAV slipped again to 90.6p from 92.1p and the share price fell to 67p from 68.5p, with no sign of any narrowing of the discount. The NAV total return was […]
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23 Mar 2018 2 min read
Menhaden made some money in 2017
Menhaden made some money in 2017 – Menhaden’s NAV total return for the year ended 31 December 2017 was +7.8% (2016: +1.8%) and the share price total return was +3.2% (2016: -13.8%). The MSCI World Total Return Index (in sterling) increased by 11.8% (2016: +28.2%). By way of additional comparison, the WilderHill New Energy Global Innovation Index […]
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06 Apr 2017 1 min read
Poor performance dogs Menhaden
Menhaden’s net asset value per share total return for 2016 was +1.8% (2015: -14.1%) and the share price total return was -13.8% (2015: -23.0%). As at 31 December 2016, the discount of the share price to the NAV per share stood at 22.2% (2015: 8.2%). While they do not have a formal benchmark, during the year […]
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22 Feb 2017 1 min read
Menhaden Capital to de-list from the Social Stock Exchange
Menhaden Capital (Menhaden) currently operates with a dual listing on both the London Stock Exchange and the Social Stock Exchange segment of the NEX Exchange Main Board. Menhaden’s board says that, having consulted with its advisers, it has decided to seek to cancel the company’s secondary listing on the NEX in order to achieve operational […]
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15 Nov 2016 1 min read
UIL, Industrial Multi Property Third Quarter Winners – QuotedData
LONDON (Alliance News) – The best performer in both price and net asset value terms in the third quarter was UIL Ltd, boosted by its largest investment, Australian-listed Resolute Mining Ltd, which benefited from a strong gold price. Industrial Multi Property Trust PLC and Kubera-Cross Border Fund Ltd both saw recoveries in their share price […]
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21 Apr 2016 1 min read
Top ten risers and fallers in March
http://view.ceros.com/citywire/it-insider-april-2016/p/21 Investors appeared to have a greater appetite for risk during March, with trusts which have invested in Brazil, Latin America, and Russia all featuring in the top 10 risers.
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18 Apr 2016 1 min read
Best and worst performing investment trusts: Unloved commodity, Brazil and Russia funds finally come good
Recovery in commodity prices has boosted investment trusts specialising in the sector Investors also hoping for Brazil revival if leader Dilma Rousseff is ousted Biotech and healthcare hit by fears Democrat party will squeeze drug prices if they win the US http://www.thisismoney.co.uk/money/investing/article-3542148/Unloved-commodity-Brazil-Russia-funds-finally-come-good.html
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04 Apr 2016 2 min read
Not a great start for Menhaden
Menhaden Capital published its first set of results on 31 March 2016. these cover the period from its incorporation, through its listing on 31 July 2015 and up to 31 December 2015. Menhaden’s net asset value decreased from 97.7p (post IPO expenses of 2.3p) to 83.9p, representing a decline of 14.1% for the five months […]
Upcoming Events
Videos
In The Press
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06 Jul 2021 1 min read
Investment trust insider on Menhaden
Investment trust insider on Menhaden – James Carthew: Menhaden remains a fish out of water Over the almost six years since the launch of Menhaden (MNH) on 31 July 2015, it would be fair to say that I have not warmed to it. As I have freely admitted, I just did not understand what it was […]
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24 Jun 2021 2 min read
Is now the time to move on these historically cheap trusts?
Trustnet searched across the AIC sectors to find the investment trusts that are trading on a historically attractive discount compared to five years ago and that have still maintained performance. By Rory Palmer, Reporter, Trustnet 17 June 2021 Henderson EuroTrust, Miton UK Microcap and BlackRock Frontiers are just three of the investment trusts that are trading […]
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16 Nov 2020 1 min read
Engines of growth: Investment trusts for responsible investing
Engines of growth: Investment trusts for responsible investing By Mary McDougall, Investors Chronicle, 12 November 2020 Appetite for investment products with strong environmental, social and governance (ESG) credentials has boomed this year as the pandemic has put the need for a sustainable world under the spotlight. Enthusiasm has been helped by sustainable funds broadly outperforming their conventional peers […]
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29 Jul 2020 2 min read
Investment trust insider on ESG
Investment trust insider on ESG – James Carthew: ESG? Riverstone, you’re having a laugh Riverstone Energy (RSE) has just announced a deal whereby it, and other funds managed or advised by its investment manager, will refinance Enviva, a leading player in the manufacture of wood pellets. The pellets are burnt in power stations (like the UK’s […]
