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QD view – private companies dominate in 2021

It might be too late to start an email with ‘Happy New Year’ now but coming to your inboxes early next week will be our annual review of the investment trust world in 2021. We won’t give you too many spoilers, but it would be rude not to share a few snippets early. It was […]

BB Biotech sees compelling opportunities at current biotech valuations

With valuations in biotech having fallen substantially in the last year, BB Biotech (SWX: BION) sees compelling opportunities in the small-to-mid cap space this year and believes some of its core portfolio companies, such as Neurocrine, Incyte and Ionis Pharmaceuticals, could see interest from strategic investors, including as M&A targets. The comments come in the […]

Downing Renewables & Infrastructure acquires additional Swedish hydropower assets

Downing Renewables & Infrastructure (DORE) has announced that it has exchanged contracts to acquire two operational portfolios of hydropower plants located in central Sweden for a total consideration of approximately €25m. The first is a circa 12 GWh portfolio of hydropower plants from ÄSI Kraft AB located in the SE3 electricity pricing zone for approximately […]

Polar Capital Global Financials Trust – going like hot cakes

Polar Capital Global Financials Trust (PCFT) has announced today (21st January 2021) that it is considering an equity issue under its placing programme. There is currently strong interest in the financials sector and, reflecting this, strong demand for PCFT’s shares. Since 30 November 2020 to 20 January 2022, PCFT says that it has raised some […]

QuotedData’s morning briefing 21 January 2022

In QuotedData’s morning briefing 21 January 2022: Hg, the manager of HgCapital Trust (HGT) has announced that it is making an additional investment into Lyniate, which it describes as “a leader in healthcare data interoperability”. The terms of the transaction are not disclosed. The transaction will result in HGT investing approximately £8.1 million in Lyniate, […]

QuotedData Morning briefing
Bluefield buys Good Energy portfolio

Bluefield buys Good Energy portfolio – Bluefield Solar has bought a 47.5 megawatt peak (MWp) operational solar and wind portfolio from Good Energy Group Plc (GOOD LN). The portfolio was bought for an initial equity consideration of £16.4m, which could rise to a total of £24.5m if  a series of due diligence milestones are met […]

QuotedData’s morning briefing 20 January 2022

In QuotedData’s morning briefing 20 January 2022: Fondul Proprietatea (FP.) has sold 2,275,000,000 shares that it held in the Romanian energy business, OMV Petrom. The deal was done using an accelerated bookbuild offering at RON0.43 /share. The gross proceeds were RON978,250,000 (£164.8m) and will be used to fund the buyback programme and the payment of […]

AVI calls for review and appointment of new independent director in latest saga with Third Point

AVI calls for review and appointment of new independent director in latest saga with Third Point – Asset Value Investors, manager of the AVI Global Trust (AGT), and three other shareholders representing over 18% of Third Point Investors Limited (TPIL) ordinary shares, have requisitioned the board of TPIL to convene an EGM at which shareholders […]

Management shake-up at JPMorgan Japan Small Cap Growth & Income as Saito departs

Management shake-up at JPMorgan Japan Small Cap Growth & Income as Saito departs – JPMorgan Japan Small Cap Growth & Income’s (JSGI) manager, Eiji Saito, will be leaving JPMorgan after 18 years’ service. He has made the decision to leave the industry after 26 years to return to university and pursue a degree in law. […]

QuotedData’s morning briefing 19 January 2022

In QuotedData’s morning briefing 19 January 2022: Harmony Energy Income (HEIT) has announced that construction for one of its seed portfolio projects, Pillswood, continues to progress well and that remaining seed projects are to commence construction with the planned timetable. The planning consent for the advanced project is now expected to be in February 2022, […]

LXI REIT targeting £125m fund raise

LXi REIT is looking to raise £125m in a proposed issue of new ordinary shares through a subsequent placing, open offer, offer for subscription and intermediaries offer under its share issuance programme. The group will target the issue of 88,261,608 new shares at an issue price of 142 pence, representing a premium of 2.9% to […]

QuotedData’s morning briefing 18 January 2022

In QuotedData’s morning briefing 18 January 2022: TR European Growth Trust (TRG) is changing its name. With effect from 17 January 2022, the trust is now The European Smaller Companies Trust. The ticker will change to ESCT from tomorrow. [And so a chapter of investment trust history edges closer to closure. The TR (short for […]

BB Biotech resilient in challenging period for portfolio

BB Biotech (SWX: BION) seems to be resilient in the current challenging period for biotech investing and most especially in the last week, which ranks as one of the most important trading periods in the biotech calendar. The Swiss investment company saw a 0.8% fall in its NAV in the five days from January 10-14th […]

BMO Commercial Property Trust increases logistics exposure with £66m double buy

BMO Commercial Property Trust has bought two logistics assets for £66m and committed to two developments within its existing portfolio at a cost of £10.5m. These initiatives are in line with the group’s strategy of recycling capital into the industrial and logistics sector and follows the sale of its second largest asset – Cassini House, […]

Ruffer gets a boost from index-linked bonds

Ruffer gets a boost from index-linked bonds – Ruffer (RICA) has posted its interim results for the six months to 31 December 2021. During the period, the NAV total return was 2.8% and the share price total return was 2.6%. The largest contributor to performance was index-linked bonds, which added 1.9%. This return was boosted […]

Tritax EuroBox acquires third Swedish asset

Tritax EuroBox has completed the acquisition of the land and agreed to fund the development of a 17,832 sqm prime logistics asset in Sweden for SEK 402m (€39.4m). The asset is situated adjacent to the 13,181 sqm development opportunity in Rosersberg in Sweden acquired by the company in September 2021, and is being acquired at […]

Tritax EuroBox grows Nordic exposure with €27.9m deal
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 […]

QuotedData's Morning briefing
QD view – Ecofin Global Utilities and Infrastructure – better value than you might think

There is a natural bias with financial analysis and commentators towards writing about securities that are perceived as being cheap and less so about those that may, at least optically, look expensive. There is a lot of emphasis placed on trusts trading at marked discounts to net asset value but much less focus on trusts […]

Polar Capital Financials in hot demand

Polar Capital Global Financials Trust (PCFT) has published a shareholder circular convening a General Meeting for Tuesday, 1 February 2022. The purpose of the meeting is to ask shareholders to renew the board’s authority to issue new ordinary shares (while disapplying the pre-emption rights in respect of such allotments). Since its 2021 AGM, PCFT has […]

Round Hill Music Royalty acquires the David Coverdale Catalogue

Round Hill Music Royalty Fund (RHM) has acquired the music publishing, master rights and master rights royalties for the catalogue of Whitesnake frontman and Deep Purple lead singer from 1973 to 1976, David Coverdale. RHM has also entered into a long-term administration agreement for the neighbouring rights income from the catalogue. RHM says that, due […]

QuotedData’s morning briefing 14 January 2022

In QuotedData’s morning briefing 14 January 2022: Cordiant Digital Infrastructure has announced that the final condition outstanding for the completion of the acquisition of DataGryd Datacenters LLC has now been satisfied and, accordingly, its acquisition of DataGryd is now complete. BMO Private Equity Trust (BPET) says that it has been advised by Singer Capital Markets […]

Quality focus unhelpful for BlackRock Income and Growth

Quality focus unhelpful for BlackRock Income and Growth – Over the year to 31 October 2021, BlackRock Income & Growth achieved an NAV return of 30.4% and a return to shareholders of 22%, both behind the 35.4% return generated by the All-Share index. The dividend was mainatained at 7.2p and once again this was not covered […]

Digital 9 buys Irish wireless network

Digital 9 buys Irish wireless network – Digital 9 Infrastructure says that its subsidiary, Digital 9 Wireless has signed a conditional sale and purchase agreement to buy a majority (56%) stake in Tetra Ireland Communications, the exclusive operator of public safety wireless networks across the Republic of Ireland. The total price is about €76m and […]

HydrogenOne looking for more money

HydrogenOne looking for more money – HydrogenOne Capital Growth launched in July 2021, raising £107m. It is excited about progress in the development of its sector. It highlights policies such as the phase out of diesel in UK heavy goods vehicles by 2035-40 as one of many similar policy shifts that further support the hydrogen […]

Infrastructure India gets two more months

Infrastructure India gets two more months – Infrastructure India says that, since it announced in its interim results that forecasts indicated that the company did not have sufficient cash reserves to meet creditors as they fall due beyond January 2022, it has agreed with certain creditors that they will withhold demanding payment for invoices falling […]

QuotedData’s morning briefing 13 January 2022

In QuotedData’s morning briefing 13 January 2022: Polar Capital Technology (PCT) is cutting its management fee from 1 May 2022. The tiering of the base fee has been simplified and lower rates agreed. The impact of this change is to reduce the blended ongoing management fee at current asset levels from 0.81% to 0.75%. The […]

ASLI announces placing to fund €142m near-term pipeline

Abrdn European Logistics Income (ASLI) has launched a placing under its share issuance programme to fund its near-term €142m pipeline of investments. The group, which has recently deployed the £125m it raised in September 2021 on the acquisition of a logistics portfolio in Madrid, said the placing price will be 110 pence per share, a […]

JLEN Environmental Assets launches placing to pay off loan and fund new pipeline

JLEN Environmental Assets launches placing to pay off loan and fund new pipeline – JLEN Environmental Assets Group is proposing to undertake a placing and offer for subscription for up to 60,139,202 new ordinary shares in the company of no par value at 101 pence per new ordinary share. The company is currently £109.8m drawn […]

QuotedData’s morning briefing 12 January 2022

In QuotedData’s morning briefing 12 January 2022: ICG Longbow Senior Secured UK Property Debt Investments (LBOW) has received repayment in full of the £16.2m GMG loan, following a sale of the underlying property. The repayment is accompanied by interest and exit fees of approximately £800,000 in aggregate. The board is consequently pleased to announce that […]

LondonMetric buys cold storage logistics scheme for £53m

LondonMetric Property has acquired a long let cold storage and logistics warehouse development for £53.4m. The 300,000 sq ft building is pre-let on a 25 year lease to AM FRESH GROUP, an international agri-tech company that supplies the majority of UK supermarkets with a range of items including fruits, plant-based fresh goods and flowers. The rent […]

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