Overview
Tufton Assets (formerly Tufton Oceanic Assets) aims to provide investors with an attractive level of regular and growing income and capital returns through investing in a diversified portfolio of secondhand commercial sea-going vessels. The company will make investments through one or more underlying SPVs.
The company is targeting an initial dividend yield of 5% during the first 12 months following admission rising to a target dividend yield of 7% thereafter. The dividend is expected to grow modestly over the long term. The company will target an IRR of 12% per annum (net of expenses and fees) on a NAV basis on the issue price over the long term.
You can access the fund’s website here
Fundamentals
Price
Research History
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs 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 […]
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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Apr 2020 8 min read
QuotedData’s Investment Companies Roundup – April 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 March: An update note […]
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5 min read
QuotedData’s Economic Roundup – April 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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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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07 Oct 2019 5 min read
QuotedData’s investment companies roundup – October 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over September, we published notes on India Capital Growth, Jupiter Emerging & Frontier, International Biotechnology Trust, JPMorgan Russian Securities, Civitas Social Housing, Montanaro European Smaller Companies and JLEN Environmental Assets. We also launched a monthly real estate roundup, beginning with reviews of August and September. In […]
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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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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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13 Nov 2018 1 min read
QuotedData’s investment companies roundup – November 2018
QuotedData’s investment companies roundup – November 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 October 2018. Kindly sponsored by Baillie Gifford. Winners and losers in October In what was generally a miserable month for equity markets, Brazil shone […]
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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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25 Apr 2018 1 min read
Quarterly investment companies roundup – First quarter 2018
Quarterly investment companies roundup – First quarter 2018 Quarterly investment companies roundup – First quarter 2018 – Global equity markets declined in the first quarter of 2018. Concerns about US interest rate rises were the feature of the first half of the quarter. However, worries about global trade took over in the second part, particularly […]
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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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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 […]
News
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07 Oct 2024 1 min read
QuotedData’s morning briefing 7 October 2024 – SHIP, BGHL, BGHS
In QuotedData’s morning briefing 7 October 2024: Tufton Oceanic Assets (SHIP) says that “principals and staff of its investment manager”, Tufton Investment Management Ltd, acquired an additional 160,741 of SHIP’s ordinary shares on 30 September 2024. As at 30 June 2024, Tufton stakeholders owned 4.9% of the issued share capital in the company. Boussard & […]
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03 Oct 2024 2 min read
QuotedData’s morning briefing 3 October 2024 – MINI, SHIP, CHRY
In QuotedData’s morning briefing 3 October 2024: Miton UK Micro Cap (MINI) says 31,083,534 shares or 40.4% of its issued share capital, has been put forward for redemption in its annual redemption facility. A statement from the board says “The board continues to believe that the company will be able to generate attractive returns for […]
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26 Sep 2024 2 min read
Tufton Oceanic sees opportunities out to 2030
Tufton Oceanic results for the 12 months ended 30 June 2024 show an NAV total return for the period of 20.6%. The share price rose from US$0.99 per share as at the close of business 30 June 2023 to US$1.21 per share as at the close of business 30 June 2024. On average, the shares […]
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17 Jul 2024 1 min read
QuotedData’s morning briefing 17 July 2024 – SHIP
In QuotedData’s morning briefing 17 July 2024: Tufton Oceanic Assets (SHIP) will return about US$31.5m by way of a compulsory redemption of up to 20,328,259 shares at US$1.550 per share (the as at 30 June 2024). The record date (when you have to be on the register to participate) is 14 August 2024. To illustrate, […]
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20 May 2024 1 min read
SHIP to return $31m to shareholders and loosen investment restrictions
Tufton Oceanic Assets (SHIP) has provided more details on the proposed actions to be taken as a result of its strategic review, the results of which were initially announced on 17 January 2024. The board will propose an amended investment policy, which will ease SHIP’s current investment restrictions, as the current policy prevents making new […]
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19 Mar 2024 1 min read
QuotedData’s morning briefing 19 March 2024 – SEIT, SHIP, PINT
In QuotedData’s morning briefing 19 March 2024: SDCL Energy Efficiency Income Trust (SEIT) provided an interim update for the period from 1 October 2023 to 18 March 2024. The company noted that it is on track to deliver fully cash covered aggregate dividends of 6.24p per share for the financial year to 31 March 2024 […]
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08 Feb 2024 2 min read
QuotedData’s morning briefing 8 February 2024 – DGI9, BIPS, APAX, SYNC, HEIT, SHIP, AIRE, HLCL
In QuotedData’s morning briefing 8 February 2024: Digital 9’s (DGI9) sale of Verne Global may take longer than expected to close as the Icelandic anti-trust authority wants to look at the transaction. The company warns that this could add between 90 and 135 days to the wait for the final sign off of the deal. […]
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02 Feb 2024 4 min read
QuotedData’s morning briefing 2 February 2024 – AGA, GRID, HGT, BCPT, RGL, GCP, SHIP, GABI, VEIL, CGL
In QuotedData’s morning briefing 2 February 2024: On 1 February 2024, Apax XI Fund announced that it had closed the acquisition of WGSN, a consumer trend forecaster, from Ascential Plc. Apax Global Alpha (AGA), which is a limited partner in Apax XI, says that it has invested approximately €21.5m in WGSN on a look-through basis […]
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11 Jan 2024 1 min read
Tufton Oceanic sells two vessels
Tufton Oceanic Assets has agreed to sell two Handysize Product Tankers, Pollock and Dachshund, for a total of $41.75m, which represents a 3.1% premium to the two vessels most recent holding NAV of $40.5m. The price helps confirm Tufton’s NAV methodology, while also demonstrating its ability to divest portfolio vessels at or above NAV. The […]
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26 Sep 2023 2 min read
Tufton results reflect weaker ship values
Tufton Oceanic Assets has published results covering the 12 months ended 30 June 2023. The NAV fell to $1.365 from $1.450, negatively impacted by the fall in capital values of bulkers and of Riposte, the containership which was sold during the financial year. The operating profit was $56.3m, up from $40.3m, however. From Q4 2022, […]
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25 Apr 2023 2 min read
QuotedData’s morning briefing 25 April 2023
GCP Asset Backed Income Fund (GABI) announced its quarterly update for the period ended 31 March 2023. NAV increased 0.24% over the three months driven by an increase in the weighted average annualised yield on the investment portfolio, from 8.0% as at 31 December 2022 to 8.4% as at 31 March 2023 and from the […]
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17 Mar 2023 1 min read
QuotedData’s morning briefing 17 March 2023
Blackstone Loan Financing Limited (BGLF / BGLP) announced the results of its shareholder consultation for the purpose of addressing potential policy amendments in light of the prevailing and persistent discount to net asset value at which the company’s shares trade. There were no significant changes resulting from the meeting, however, the board will propose a […]
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17 Jan 2023 2 min read
QuotedData’s morning briefing 17 January 2023
In QuotedData’s morning briefing 17 January 2023: Gulf Investment Fund (GIF) reports that over the final quarter of 2022, its NAV fell by 3.8%, outperforming the S&P GCC Index, which fell by 6.1%. In fact, 4Q 2022 was one of the worst quarters for Qatar and Saudi Arabia in past 10 years. Qatar fell 15.9% […]
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03 Jan 2023 2 min read
QuotedData’s morning briefing 3 January 2023
Happy New Year to our readers. In QuotedData’s morning briefing 3 January 2023: Tufton Oceanic Assets (SHIP) has agreed to sell its last containership, the Riposte, for $13.0m (about equal to its depreciated replacement cost), following which its fleet will consist of twenty-two vessels. The realised net IRR on the Riposte exceeds 12%. In aggregate, the […]
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18 Oct 2022 1 min read
QuotedData’s morning briefing 18 October 2022
In QuotedData’s morning briefing 18 October 2022: Tufton Oceanic Asssets (SHIP) says that its end September NAV was $1.479 (132.5p), giving investors a return for the third quarter of 3.3% on NAV. The target annual dividend is being increased from $0.080 to $0.085 per share, to commence from 4Q22. After the increase, the company is […]
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26 Sep 2022 1 min read
Smooth sailing for Tufton
For the 12 months ended 30 June 2022, Tufton Oceanic Assets reported an NAV return of 32.5% and a profit of $107.3m, or $0.362 per share. It raised its dividend target from 7.5 cents to 8 cents. The manager thinks that this will be covered 1.8x up to the end of 2023. Containership and bulker […]
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20 Sep 2022 1 min read
QuotedData’s morning briefing 20 September 2022
In QuotedData’s morning briefing 20 September 2022: Tufton Oceanic Assets (SHIP) is buying two product tankers – Courteous and Mindful – for $73.0m, less than their depreciated replacement cost. This takes the fund’s fleet to 23 vessels. Both tankers have fixed rate time charters for three to five years to a major commodity trading and […]
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29 Jun 2022 2 min read
QuotedData’s morning briefing 29 June 2022
In QuotedData’s morning briefing 29 June 2022: Tufton Oceanic Assets (SHIP) has applied to introduce an additional market quote for its shares on the London Stock Exchange denominated in GBP Sterling, which will appear alongside the existing US Dollar market quote. There will be no changes to the legal form or nature of SHIP’s shares […]
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10 Jun 2022 3 min read
QuotedData’s morning briefing 10 June 2022
In QuotedData’s morning briefing 10 June 2022: Tufton Oceanic Assets (SHIP) has announced that it has agreed to acquire a product tanker for US$31.5m with completion expected in early July. The Product Tanker, Marvelous, is being acquired at approximately 90% of its depreciated replacement cost. SHIP says that, initially, the vessel will be employed in […]
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16 May 2022 3 min read
QuotedData’s morning briefing 16 May 2022
In QuotedData’s morning briefing 16 May 2022: Finsbury Growth & Income (FGT) has posted its unaudited half year results for the six months to 31 March 2022. During the period, the NAV total return was -2.2% and the share price total return was -3.0%. The benchmark rose by 4.7%. Despite this, manager Nick Train (pictured) […]
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21 Mar 2022 4 min read
QuotedData’s morning briefing 21 March 2022
In QuotedData’s morning briefing 21 March 2022: Further to the announcement on 8 February 2022 in relation to the proposed merger of TwentyFour Income Fund Limited (TFIF) and UK Mortgages Limited (UKML), the board of UKML has announced that the special resolutions proposed at its EGM last week were approved and that liquidators have been […]
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11 Mar 2022 2 min read
QuotedData’s morning briefing 11 March 2022
In QuotedData’s morning briefing 11 March 2022: CQS Natural Resources Growth and Income (CYN) has announced its interim results for the six months ended 31 December 2021. CYN’s chairman, Richard Prickett says that, during the period, commodity markets were strong and interestingly for the sector higher interest rate expectations are supporting a broad market rotation […]
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10 Mar 2022 2 min read
QuotedData’s morning briefing 10 March 2022
In QuotedData’s morning briefing 10 March 2022: ScotGems (SGEM) says that yesterday, it received notice to terminate the investment management agreement from its manager, First Sentier Investors (UK) Funds Limited. The termination will not take effect until a replacement manager is appointed, subject to a maximum period of six months from today’s date. The board […]
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14 Feb 2022 2 min read
QuotedData’s morning briefing 14 February 2022
In QuotedData’s morning briefing 14 February 2022: Vietnam Enterprise (VEIL) has shared a monthly update for January, which states that concerns on the quality of Vietnam’s bank assets have subsided and sentiment in the sector should be further boosted by robust Q4 2021 and full-year 2021’s earnings. Vietcombank was VEIL’s top performer, up 13.8% at […]
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07 Feb 2022 2 min read
QuotedData’s morning briefing 7 February 2022
In QuotedData’s morning briefing 7 February 2022: Tufton Oceanic Assets (SHIP) has sold its containerships Candy and Echidna for a total of $21m. The realised net IRR will be around 74% and realised net MOIC will be around 1.80x. The ships were bought in January last year for $13.75m in total. Octopus Renewables Infrastructure (ORIT) […]
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17 Jan 2022 2 min read
QuotedData’s morning briefing 17 January 2022
In QuotedData’s morning briefing 17 January 2022: Digital 9 Infrastructure (DGI9) has started a consultation process with shareholders regarding potential amendments to its investment policy which currently restricts its ability to invest more than 20% of gross assets in any single asset or investee company. It is proposed that this is increased to 25%. Meanwhile […]
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30 Dec 2021 1 min read
QuotedData’s morning briefing 30 December 2021
In QuotedData’s morning briefing 30 December 2021: Secure Income REIT (SIR) is paying £33.45m in cash to Merlin Entertainments Limited, and in exchange Merlin has agreed it will extend the lease terms in respect of Alton Towers, Thorpe Park, Warwick Castle and Heide Park, Germany by 35 years, from 20.5 years currently, to 55.5 years […]
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20 Dec 2021 3 min read
QuotedData’s morning briefing 20 December 2021
In QuotedData’s morning briefing 20 December 2021: Tufton Oceanic Assets Limited (SHIP) has agreed to divest the Containership Swordfish for $19m. The realised net IRR will be 27% and realised net MOIC will be 2.4x. Swordfish was acquired in January 2018 for $10.25m as one of the company’s first two investments together with the Containership […]
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04 Nov 2021 2 min read
QuotedData’s morning briefing 4 November 2021
In QuotedData’s morning briefing 4 November 2021: Tufton Oceanic (SHIP) plans to issue up to 28,057,140 shares at $1.39 via a placing. The money raised will be used to fund the purchase of additional ships. The number of shares is 10% of the existing issued share capital. The issue price is 1.4% discount to the […]
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20 Oct 2021 2 min read
QuotedData’s morning briefing 20 October 2021
In QuotedData’s morning briefing 20 October 2021, it is very busy for a Wednesday: Drum Income REIT (DRIP)’s shareholders have overwhelmingly approved the absorption of the trust into Custodian REIT. Court approval for the scheme is expected on 1 November; Drum’s shares will be suspended on 3 November and delisted on 4 November; and the […]
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05 Oct 2021 2 min read
QuotedData’s morning briefing 5 October 2021
In QuotedData’s morning briefing 5 October 2021: Following shareholder approval, BioPharma Credit (BPCR) is transferring to a listing on the Official List of the Financial Conduct Authority and to trading on the Premium Segment of London Stock Exchange’s Main Market. It has also created a sterling line of stock – ticker BPCP – which will […]
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30 Sep 2021 3 min read
QuotedData’s morning briefing 30 September 2021
In QuotedData’s morning briefing 30 September 2021: International Public Partnerships (INPP) says its £40m investment in the Rampion OFTO project looks likely to complete in November after Ofgem approved it on Tuesday. The project relates to the transmission cable connection to the Rampion offshore wind farm located 13km off the Sussex coast. The wind farm […]
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22 Sep 2021 1 min read
QuotedData’s morning briefing 22 September 2021
In QuotedData’s morning briefing 22 September 2021: JPMorgan Smaller Companies (JMI) has changed its name to JPMorgan UK Smaller Companies with effect from today. Shareholders are unaffected by the change of name and existing share certificates should be retained and will remain valid. The manager of Tufton Oceanic Assets (SHIP), Tufton Investment Management, has announced […]
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09 Sep 2021 2 min read
QuotedData’s morning briefing 9 September 2021
In QuotedData’s morning briefing 9 September 2021: BlackRock Throgmorton is asking investors to allow it to issue more shares. The permission given by investors at the last AGM is starting to run out as the success of the trust attracts new investors. Growing the trust adds to the NAV, because all new shares are issued […]
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09 Aug 2021 2 min read
QuotedData’s morning briefing 9 August 2021
In QuotedData’s morning briefing 9 August 2021: Schroder UK Public Private (SUPP) has made a $13.7m investment in neobank, Revolut, as part of the business’ $800m Series E funding round which values it at $3bn. The investment is in line with SUPP’s focus on backing innovative businesses founded in the UK with disruptive innovations, significant global growth potential, […]
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28 Jul 2021 2 min read
QuotedData’s morning briefing 28 July 2021
In QuotedData’s morning briefing 28 July 2021: Literacy Capital (BOOK) has acquired a majority stake in OFJ Spring Topco Limited, the holding company for Oxygen Freejumping, which is an operator of trampoline and adventure parks in the UK, with four sites in England. The investment will provide Oxygen Freejumping with fresh capital enabling the business to […]
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17 May 2021 2 min read
QuotedData’s morning briefing 17 May 2021
In QuotedData’s morning briefing 17 May 2021 – Baillie Gifford European Growth’s (BGEU’s) interim results to 31 March 2021 brought a total NAV return of 8.7%, which it says compared with a total return of 12.2% for the FTSE Europe ex UK index, in sterling terms. BGEU#s shareholder return over the same period was 11.7%. […]
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15 Apr 2021 1 min read
QuotedData’s morning briefing 15 April 2021
In QuotedData’s morning briefing 15 April 2021: Tufton Oceanic (SHIP) has acquired a Handysize Bulk Carrier for $14.3m. The vessel has a fixed rate time charter for eleven to thirteen months to a large maritime transport and logistics company. In addition, the Containership Swordfish has a new fixed rate time charter for fifteen to seventeen months from the […]
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25 Mar 2021 2 min read
QuotedData’s morning briefing 25 March 2021
In QuotedData’s morning briefing 25 March 2021: Tufton Oceanic Assets (SHIP) raised gross proceeds of US$14.7m by issuing 15m shares at 98 cents each. [It said that it was after $25m, so perhaps this was a little disappointing. That’s a surprise to us as shipping rates have been soaring.] The Renewables Infrastructure Group (TRIG) raised about […]
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22 Mar 2021 2 min read
QuotedData’s morning briefing 22 March 2021
In QuotedData’s morning briefing 22 March 2021 – Flexible investment sector company, New Star (NSI), reported interim results to 31 December 2020, delivering a total NAV return of 8.7% and a total market return of 15.1%. NSI benefited from its allocations to UK smaller stocks and emerging market equities but its allocations to dollar cash and gold […]
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02 Mar 2021 2 min read
QuotedData’s morning briefing 2 March 2021
In QuotedData’s morning briefing 2 March 2021: Syncona (SYNC) notes that Achilles Therapeutics, a clinical-stage biopharmaceutical company developing precision T cell therapies to treat solid tumours, announced it has filed a registration statement in relation to a proposed IPO. Syncona owns 44% of Achilles which it values at £72.4m. RTW Venture Fund (RTW) participated in a Series […]
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21 Jan 2021 1 min read
QuotedData’s morning briefing 21 January 2021
In QuotedData’s morning briefing 21 January 2021: Schroder BSC Social impact says it has committed over 80% and invested over 55% of the net proceeds of its IPO. Most of the money went into buying seven investments that were listed in the prospectus. It has also bought £2.5m of bonds issued by Triodos Bank. Triodos lends to […]
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14 Jan 2021 2 min read
QuotedData’s morning briefing 14 January 2021
In QuotedData’s morning briefing 14 January 2021: Polar Capital Global Financials has published a circular to convene a meeting on 1 February at which shareholders will be asked to approve the issue of up to 70,375,000 shares from treasury without pre-emption (first offering them to existing shareholders). The shares will be issued at a premium and […]
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11 Jan 2021 1 min read
QuotedData’s morning briefing 11 January 2021
In QuotedData’s morning briefing 11 January 2021 – Tufton Oceanic Assets (SHIP) announced the acquisition of a stainless steel Chemical Tanker for $15.2m, taking its fleet size to twenty vessels. SHIP says it will be employed in a leading chemical tanker pool. Ground Rents Income Fund (GRIO) has responded to leasehold reform proposals that would reduce […]
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05 Jan 2021 1 min read
Tufton adds another ship to portfolio
Tufton adds another ship to portfolio as core management team ups its stake in the manager. Tufton Oceanic Assets has acquired a containership for $6.75m. This takes its fleet to 19 vessels. The vessel has a fixed rate time charter of at least three years to a major container line which is investment grade. It is […]
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09 Nov 2020 2 min read
QuotedData’s morning briefing 9 November 2020
In QuotedData’s morning briefing 9 November 2020 – Tufton Oceanic Assets (SHIP) has agreed to divest one Suezmax Tanker for $19m. The divestment will reduce the company’s fleet from nineteen to eighteen vessels. SHIP says that the realised yield and internal rate of return (IRR) will greatly exceed the targets expressed in its prospectus. This will be the […]
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05 Oct 2020 1 min read
QuotedData’s morning briefing 5 October 2020
In QuotedData’s morning briefing 5 October 2020: Tufton Oceanic (SHIP) announced the acquisition of two product tankers for an outlay of $23m, taking the fleet to 18 vessels. Both vessels have fixed-rate time charters deals for three to five years with a major commodity trading and logistics company. We also have news of a $182m […]
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24 Sep 2020 2 min read
Flat year for Tufton Oceanic
Flat year for Tufton Oceanic – over the year ended 30 June 2020, Tufton Oceanic Assets generated an NAV return of -0.7%. Within that, the company declared dividends of 7 cents and saw its NAV fall from $1.005 to $0.931. The target for this year’s dividend remains at 7 cents (quarterly payments of 1.75 cents). […]
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27 Mar 2020 1 min read
Tufton Oceanic Assets acquires Handysize Bulk Carrier for US$7m
Tufton Oceanic Assets Limited (SHIP) has announced that it has acquired a Handysize Bulk Carrier for US$7.0m. This acquisition takes SHIP’s fleet to sixteen vessels, leaving it with approximately US$15m of cash available for investment. SHIP’s manager, Tufton Oceanic, continues to identify a pipeline of opportunities across a range of the company’s target sectors. About the […]
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04 Mar 2020 1 min read
Tufton Oceanic largely insulated from shipping sell-off so far
In light of the coronavirus (Covid-19) afflicted volatility across markets, Tufton Oceanic (SHIP) has provided an update. The company says its strategy of portfolio diversification and strong charter coverage has insulated SHIP from the recent market volatility caused primarily by Covid-19. The company’s update made the following points: Year to date, fair value losses in containerships […]
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03 Feb 2020 1 min read
Tufton makes first sales
Tufton makes first sales – Tufton Oceanic Assets has sold three General Cargo vessels for $19.3m. The divestment reduces the company’s fleet from seventeen to fourteen vessels. The realised yield and IRR exceed the targets expressed in Tufton Oceanic’s prospectus dated 25 September 2018. This is the company’s first divestment. It goes on to say that […]
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10 Oct 2019 1 min read
QuotedData’s other news 10 October 2019
In QuotedData’s other news 10 October 2019 AVI Japan is asking shareholders to approve an issue of up to 14,365,000 shares to Finda Oy, its largest shareholder, as part of a larger placing to be held in November. Tufton Oceanic Assets has agreed to acquire a Containership for $8.75m, taking its fleet to seventeen vessels. The […]
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30 Sep 2019 1 min read
Tufton Oceanic bulks up fleet with $19.9m crude oil vessel
Tufton Oceanic bulks up fleet with $19.9m crude oil vessel – Tufton Oceanic Assets (SHIP) has announced it has agreed to acquire a crude oil tanker for $19.9m. This acquisition will take the company’s fleet to sixteen vessels. The vessel is time chartered to a major tanker operator for two years at a fixed floor […]
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24 Sep 2019 1 min read
QuotedData’s other news 24 September 2019
In QuotedData’s other news 24 September 2019 Starwood European Loan Finance has lent a developer £56.8m for two years. The money will be used to complete a residential development in London. Also the final €15m lent to a European industrial portfolio has been repaid. This leaves SWEF with net cash of £5.5m against unfunded commitments of […]
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20 Sep 2019 1 min read
QuotedData’s other news 20 September 2019
In QuotedData’s other news 20 September 2019 – Tufton Oceanic Assets today announced that it has raised gross proceeds of $31m through a placing. The company invests in a portfolio of secondhand commercial sea-going vessels. Further to announcements made earlier this month with regard to a proposed placing, Merian Chrysalis says that indicative orders significantly in excess of […]
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11 Sep 2019 2 min read
Tufton topping up funds again
Tufton topping up funds again – Tufton Oceanic Assets launches placing after results show a flat year in NAV terms to end June 2019. Ship leasing firm, Tufton Oceanic Assets, has just released results covering the year ended 30 June 2019. Highlights from the statement include: Profit of US$16.4m, or 11.94 US cents per ordinary share […]
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01 Jul 2019 1 min read
QuotedData’s other news 1 July 2019
In QuotedData’s other news 1 July 2019 Symphony International (SIHL) announced that it has, through a wholly-owned subsidiary, invested in Creative Technology Solutions. The company provides customized IT solutions to the education sector in the United Arab Emirates and increasingly in other countries in the Gulf Cooperation Council region. This represents SIHL’s first investment into the Gulf. […]
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1 min read
Tufton Oceanic buys $28.3m vessel
Tufton Oceanic buys $28.3m vessel – Tufton Oceanic (SHIP) has reached an agreement to acquire a containership for $28.6m. The new ship will take the company’s fleet size to 15 vessels. The new ship has a time charter of approximately 5.5 years to a major container line and SHIP says it is going to invest […]
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03 Apr 2019 1 min read
Tufton Oceanic buys two cargo ships for $13.5m
Tufton Oceanic buys two cargo ships for $13.5m – Tufton Oceanic (SHIP) is growing its vessel fleet to 14 after striking a deal to acquire two general cargo ships for $13.5m. They will be the first investments made from the proceeds of a placing announced in March, where $50m was raised. Click here to read […]
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21 Feb 2019 2 min read
Tufton Oceanic Assets fully invested and proposing a USS$75m capital raise
Tufton Oceanic Assets (SHIP) has announced that it has agreed to acquire one general cargo vessel for $6.75m. This purchase will take the Company’s fleet to twelve vessels and, following the purchase, SHIP says that its “capital resources are now fully committed”. It has since announced its intention to raise up to $75m by way […]
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11 Dec 2018 1 min read
Tufton Oceanic Assets continues to deploy c share proceeds
Tufton Oceanic Assets has announced that it has agreed to acquire two product tankers for a total of $36m. These acquisitions will be the third and fourth investments made from the c share proceeds announced on 11 October 2018 and will take the Company’s fleet to ten vessels. Limited information is provided in the announcement, […]
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23 Nov 2018 1 min read
Tufton Oceanic Assets Limited buys two containerships
Tufton Oceanic Assets Limited buys two containerships- Tufton Oceanic Assets Limited has acquired two containerships for US$13 million. The first containership is designed to haul fresh fruit all over the globe and the second ship is an LPG Carrier that they bought a 75% stake on 25 July 2018. Tufton purchased the remaining 25% stake […]
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20 Sep 2018 1 min read
Tufton Oceanic invests US$12.9m in a Handysize Bulk Carrier
Tufton Oceanic invests US$12.9m in a Handysize Bulk Carrier – Tufton Oceanic Assets (SHIP) has agreed to acquire a Handysize Bulk Carrier for $12.9m. What is a Handysize Bulk Carrier? Handysize is a naval architecture term for smaller bulk carriers or oil tanker with deadweight of up to 50,000 tonnes. Their small size allows Handysize vessels to enter […]
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25 Jul 2018 1 min read
Two new vessels for Tufton Oceanic Assets
Two new vessels for Tufton Oceanic Assets – Tufton Oceanic Assets (SHIP) has announce that it has agreed to acquire a 75% interest in a LPG carrier for $21.75 million and a 100% interest in a Handysize Bulk Carrier for $10 million. LPG carrier – bareboat charter of seven years. The LPG carrier will have a bareboat […]
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12 Mar 2018 1 min read
Tufton buys two vessels
Tufton buys two vessels – The Board of Tufton Oceanic Assets Limited has announced that the company has acquired two sub-Panamax containerships for $22.8 million. The vessels will have charters of at least two years and three years, respectively. One ship is chartered to part of a major investment grade container shipping group. The other ship will […]
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12 Feb 2018 1 min read
Tufton Oceanic off the slipway
Tufton Oceanic off the slipway – Tufton Oceanic Assets Limited has acquired two feeder containerships for $20.5 million. The vessels are initially chartered for 2-3 years to a major container line which is investment grade. The initial yield is in line with the targets expressed in the company’s prospectus. These are the first investments by […]
In The Press
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07 Oct 2024 1 min read
Investment trust winners and bargains worth backing
by Dave Baxter, Investors Chronicle, October 4, 2024: Markets have not exactly been moving sideways in 2024. The S&P 500 has returned nearly 15 per cent in sterling terms over the first nine months of the year, with the FTSE All-Share making more than 10 per cent. Equity fund investors have had plenty to enjoy, […]
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31 Jul 2024 1 min read
Top 20 investment trusts that have seen their discounts narrow
by Kyle Caldwell from interactive investor, 31st July 2024: For about 18 months, there’s been no shortage of investment trust bargain opportunities, with the average trust discount typically trading at around -15%.. For this article, we asked QuotedData, the investment trust analyst, to crunch the numbers to reveal which trusts have bucked the trend and […]
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12 Jul 2022 1 min read
Dare to be different
Faith Glasgow, AIC Compass, July 2022: One of the big attractions of investment companies for many retail investors is the wide range of asset classes to which they offer access: not just equities but property, infrastructure, private equity and a number of even more esoteric specialist investment opportunities including sectors dedicated to music royalties, forestry, […]
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09 Nov 2021 1 min read
Investment trust insider on ship leasing funds
Investment trust insider on ship leasing funds – James Carthew: Buoyant ship funds need to go net zero It’s nearly six months since I wrote about the proposed launch of Taylor Maritime Investments (TMI). The trust hit its flotation target, raising $160m (£119m) from investors ($10m more than it had hoped) and then issued a […]
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16 Apr 2020 1 min read
Alternative income trusts for the dividend drought
Alternative investment trusts for the dividend drought By Dave Baxter, Investors Chronicle, 16 April 2020 Some 45 per cent of UK companies had scrapped their dividends by 5 April and the situation is likely to deteriorate… But equity trusts are not the only source of income – many investment trusts focused on alternative asset classes such […]
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25 Sep 2018 1 min read
Investment trust insider on Tufton Oceanic Assets (SHIP)
Investment trust insider on Tufton Oceanic Assets (SHIP) James Carthew: the novelty of ship funds bearing income Tufton Oceanic Assets (SHIP) is not quite a year old, raising $91 million in its flotation last December to invest in vessels in the second-hand market. At the start of this month SHIP announced it was fully invested […]
