by Faith Glasgow from interactive investor, 9 May 2023: The recent widely publicised spat between members of Scottish Mortgage’s board of directors has once again focused attention on investment trust boards as a unique aspect of the closed-ended fund structure… Investment trusts are required to have independently elected boards of directors because they are structured […]
By Mitchell Labiak, Investors’ Chronicle, May 9 2023: Social housing landlord Civitas (CSH) has backed a £485mn take-private offer from Hong Kong-based investor CK Asset Holdings (CKA). The 80p per share cash offer represents a 44.4 per cent premium to Civitas’ closing share price on 5 May – with shares jumping this morning to match […]
GAVIN LUMSDEN, MICHELLE MCGAGH, Investment Trust Insider, 9 May 2023: Civitas Social Housing (CSH) is to exit the UK stock market after CKA Group, a Hong Kong asset management group and direct investor in the real estate investment trust’s fund manager, pounced with a premium cash bid. Shares in the provider of supported social housing […]
BY:CHARLIE CONCHIE, City A.M. 9 MAY 2023: London-listed social housing investor Civitas revealed it had struck an “undervalued” deal to sell itself to a Hong Kong property giant today, as it looks to escape a barrage of criticism from short sellers and the media. Bosses at Civitas said this morning they had agreed to a […]
Valeria Martinez, Investment Week, 9 May 2023: The Civitas Social Housing REIT board has agreed to a recommended all-cash offer by Wellness Unity at 80p per share, but analysts are calling for a counter bid. The bid made by CK Asset Holdings’ wholly-owned indirect subsidiary, CK Bidco, values the investment trust at approximately £485m, which […]
James Carthew for Investment Week, 3 May 2023: Over the past 12 months or so, the disconnect between the net asset values of a wide range of investment companies and their share prices has widened considerably. The problem seems particularly acute in the area of alternative assets, which includes private equity, property, infrastructure and renewable […]
Investment trust insider on Next Energy Solar – James Carthew: NextEnergy’s recycling is a boost to renewables News from NextEnergy Solar (NESF) that the company plans to sell some of its assets and use the proceeds to reduce debt, fund its pipeline and pay for share buybacks could be a much-needed shot in the arm […]
Investment Week, Valeria Martinez, 2 May 2023: Schroders’ mission to resurrect the former Woodford trust as Schroder UK Public Private, now rebranded to Schroders Capital Global Innovation, has been compared to raising the Titanic, with its future placed in doubt after a tenure overseeing lacklustre performance. Formerly Woodford Patient Capital, the trust changed its name […]
Investment Week, 28 April 2023: In this month’s ‘Four graphs explaining’ our experts consider the Latin American market. Andrew Courtney, analyst at QuotedData Outside of some pockets of optimism, Latin America has slipped from one crisis to another over the past few decades. GDP has been anaemic at best, currencies have tumbled, and its regions […]
James Carthew: Early exit offer makes Ashoka trust less of a leap It is good to see some signs of life in the investment company IPO market after an extended hiatus, as the team behind Ashoka India Equity (AIE) has a go at launching a £100m trust with a wider emerging markets remit. Money has […]
