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QD view – Reasons to be cheerful

Keystone Investment Trust has been around for over 50 years. From 2003 it was managed by Mark Barnett at Invesco Perpetual. He handed over the reins to his colleague James Goldstone in 2017. The trust was run with Invesco’s ‘value with a bit of spice chucked in’ style. For much of the period under Mark’s […]

QuotedData’s weekly news show 22 January 2021

QuotedData’s weekly news show 22 January 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Jupiter Green’s new manager Hipgnosis – another acquisition and another fundraise River & Mercantile Micro Cap update Watch it […]

QD view – Can Upton regenerate U and I Group’s future?
Can Upton regenerate U and I Group's future?

This week saw the seventh change in chief executive of a listed property company since the start of the pandemic. Regeneration specialist U and I Group (UAI) parted ways with Matthew Weiner, who had held the role for six years and been at the company for more than 20, and replaced him with chief development […]

River and Mercantile Micro Cap will hand back cash

River and Mercantile Micro Cap will hand back cash – The board of River and Mercantile UK Micro Cap intends to undertake a compulsory redemption of the trust’s redeemable ordinary shares. The trust’s redemption mechanism is used periodically to return capital to shareholders so as to return the company’s net asset value to around £100m (in […]

BB Biotech raises dividend after strong year
BB Biotech remains a top performer in Feb

Switzerland’s BB Biotech (SIX:BION) recorded a solid investment performance in 2020 despite the volatile markets, according to its preliminary report. The trust saw a 16.4% rise in NAV (with a 12 % rise in share price) over the year, with a 20.6% gain in portfolio value (25.5% in US dollars) and the share price up […]

QuotedData’s morning briefing 22 January 2021
QuotedData's Morning briefing

In QuotedData’s morning briefing 22 January 2021: Utilico Emerging Markets (UEM) has made a statement in relation to US Executive Order 13959. This order, which was signed by Trump in the final days of his presidency, prohibits US Persons from purchasing publicly traded securities of 35 Chinese companies identified as Communist Chinese Military Companies. UEM has confirmed […]

NewRiver REIT collects 70% of quarterly rent

NewRiver REIT has updated on its rent collection figures and reported a collection rate for the current quarter of 70%. This, it said, was tracking ahead of previous quarters at the same number of days after billing, which have now seen 82% collected for the fourth quarter of 2020, 83% for the third quarter and […]

Another acquisition and another fundraise from Hipgnosis

Another acquisition and another fundraise from Hipgnosis – Hipgnosis has acquired 100% of Bob Rock’s producer rights for Metallica’s ‘Metallica’ and Michael Bublé’s ‘Call Me Irresponsible’, ‘Crazy Love’, ‘Christmas’ and ‘To Be Loved’, which in total comprise 43 songs. It has also announced an issue of ordinary shares at 121p and plans to issue more C […]

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 […]

Charlie Thomas leaving Jupiter

Charlie Thomas leaving Jupiter – Jupiter Green Investment Trust’s board says that it has been advised by Jupiter Asset Management Limited, that Charlie Thomas, the fund manager of the company since 2006, will be leaving Jupiter to take on a new role. The board says it would like to extend its thanks to Charlie for his […]

ASLI reports 6% increase in portfolio value

Aberdeen Standard European Logistics Income (ASLI) has reported a 6% increase in the value of its portfolio over the quarter to the end of December 2020. The company’s portfolio of 14 continental European logistics assets are now worth €430.2m, up from €405.7m at September 2020. The group said net asset value (NAV) at 31 December […]

QuotedData’s morning briefing 20 January 2021

In QuotedData’s morning briefing 20 January 2021 – SME Credit Realisation Fund has announced a return of capital by way of a compulsory share redemption. £25m will be handed back by buying back approximately 18.0% of shares in issue at 84.77p per share (the NAV at the end of December 2020). holders of shares on […]

Martin Currie Global Portfolio cuts fee

Martin Currie Global Portfolio cuts fee – The board of Martin Currie Global Portfolio Trust says that, following a review, it has agreed with Martin Currie Investment Management, the manager, that, with effect from 1 February 2021, the performance fee arrangement will be discontinued and the investment management fee amended from 0.4% to 0.5% per year […]

U and I Group appoints new chief executive after £50m loss
Can Upton regenerate U and I Group's future?

U and I Group, the developer and investor, has shaken up its senior management team after reporting losses of £50.2m in the six months to September 2020. The group has announced chief executive Matthew Weiner has stepped down from the role with immediate effect. Chief development officer Richard Upton has replaced him in the top […]

Impact Healthcare REIT’s care home residents receive COVID jabs
Impact Healthcare continues strong growth

Impact Healthcare REIT has said it expects all residents of its care homes will be vaccinated by the end of January. The group said, as of 15 January 2021, residents at 60% of its homes had received the first dose, with residents at a further 15% schedules to have it this week. The remaining 25% […]

Town Centre Securities has collected 83% of rent since March 2020
Town Centre Securities provides covid-19 update

Town Centre Securities, which owns retail, office and car park assets in the UK, has collected 83% of rent since March last year. This includes a 76% collection rate for the first quarter of 2021. In all, it has received £20.4m of the £24.6m it has billed since March last year (83%). This rises to […]

Hammerson collects just 32% of first quarter rent

Hammerson has received just 32% of rent due for the first quarter of 2021, highlighting the significant struggles of the retail sector during lockdown. The group said it had so far collected £19.8m of the £61.5m billed for the first quarter. A further £12.9m has been deferred or is not yet due due to monthly […]

Bankers will split its shares after successful year

Bankers will split its shares after successful year – Bankers Investment Trust has announced results for the year ended 31 October 2020. The NAV total return per share was 5.3%, outperforming the World Index total return of 4.3%. The share price total return was higher, at 8.1%, due to the narrowing of the discount. The chairman […]

QuotedData’s morning briefing 19 January 2021

In QuotedData’s morning briefing 19 January 2021; Hg has held a minority position in TeamSystem since 2015, following its majority exit to a vehicle indirectly held by Hellman & Friedman Capital Partners VII, L.P. A transaction has recently been agreed to transfer TeamSystem to a vehicle indirectly held by Hellman & Friedman Capital Partners IX, L.P. As […]

LXI REIT collects 96% of rent and increases dividend

LXI REIT has increased its quarterly dividend guidance on the back of strong rent collection figures for the first quarter of 2021. It has received 96% of rent, which increases to 98% on receipt of rent deferrals agreed with tenants. As a result of the robust rent collection figures, it has increased its dividend target to […]

McKay Securities collects 86% for first quarter

McKay Securities has collected 86% of rent for the current quarter, it has revealed. The group, which owns offices and industrial and logistics assets in London and the South East, said the first quarter collection figure increases to 91% when monthly payments are factored in. It also revealed that for the financial year to the […]

Ruffer reflects on good year and addition of bitcoin to the portfolio

The flexible investment sector company, Ruffer (RICA), which invests using what it describes as an ‘all-weather’ approach, reported annual results to 31 December 2020. The share price return of 17.0% and the NAV return of 13.5% for the calendar year 2020 marks two consecutive years of good returns for shareholders (+23% in NAV performance over […]

Moderna a major success story for Baillie Gifford US Growth

Baillie Gifford US Growth’s (USA) interim results to 30 November 2020 brought share price and NAV returns of 50.8% and 53.8%. This compares with a total return of 11.1% for the S&P 500 index (in sterling terms). Some of the highlights from the period include: Moderna, held by USA since 2018, is one of the biotechnology companies […]

QuotedData’s morning briefing 18 January 2021
AVI Japan Opportunity Trust : AJOT invests in undervalued cash-rich and over-capitalised smaller Japanese companies (Small Caps)

In QuotedData’s morning briefing 18 January 2021 – AVI Japan Opportunity (AJOT) is seeking to raise up to £35m in new ordinary shares under its existing placing programme. Joe Bauernfreund, CEO and CIO of Asset Value Investors, AJOT’s manager, commented: “We want to take advantage of valuations which in many cases remain depressed despite encouraging signs […]

QuotedData’s weekly news show 15 January 2021

QuotedData’s weekly news show 15 January 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Schroder British Opportunities update Schroders UK Public Private update Executive order 13959 Gabelli Value Plus liquidation vote Watch […]

QD view – the dangers of political risk

One of the best places to be invested last year was China. JPMorgan China Growth and Income managed to almost double in share price terms over 2020. Fidelity China was up by more than two thirds and Baillie Gifford China was up by more than 50% (though this was mainly related to discount narrowing on […]

QD view – Don’t discount the property generalists

A host of rent collection figures for the first quarter of 2021 have been announced by property companies and, once again, it is the logistics-focused companies leading the way. It is not that surprising given the well-documented rise in online retailing and the positive impact on demand for logistics space, but it does underline the strength of […]

Urban Logistics REIT acquires site in Wirral for £16.3m

Urban Logistics REIT has acquired a logistics site in the Wirral for £16.3m and announced rent collection for the first quarter of 2021 was 99%. The group has bought the 169,963 sq ft property in Bromborough at a net initial yield of 5.0% as it continues to deploy the proceeds of its recent fund raise. […]

SEGRO collected 98% of rent in 2020
SEGRO buys London logistics scheme at a staggeringly low 2.3% yield

Industrial and logistics giant SEGRO has revealed it has collected 98% of all rent billed for 2020, reflecting the strength of the sector. Broken down into UK and European portfolios, SEGRO has collected 97% of the £245m billed on its UK assets and 98% of the £172m billed in Europe. The group said it had […]

Despite reducing equities in March IIT recovered in second half

The Independent Investment Trust (IIT) has announced its annual results for the year ended 30 November 2020, during which it recovered in the second half, despite reducing equities in March. Over the year, IIT produced a net asset value (NAV) total return of -2.2%. Its chairman, Douglas McDougall, says that, over the same period, theoretical […]

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