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QuotedData’s morning briefing 19 April 2021

In QuotedData’s morning briefing 19 April 2021 – RTW Venture (RTW) made a note of the 15 April 2021 announcement by one of its portfolio companies, Biomea Fusion (Biomea), regarding its pricing of a $153m IPO and admission to trade on Nasdaq Global Market under ticker “BMEA”. Biomea is a preclinical-stage biopharmaceutical company focused on […]

QuotedData’s weekly news show 16 April 2021

QuotedData’s weekly news show 16 April 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’ new investment Brevan Howard funds update Richard Williams also covered British Land’s strategic review of […]

QD view – Money worries

This week I was fortunate to attend a seminar organised by Aberdeen Standard Investments (ASI) on inflation. The speakers included Iain Pyle, who is the manager of Shires Income, which we have written about a few times, and Nalaka de Silva, manager of Aberdeen Diversified Income & Growth, who we had on the weekly show […]

QD view – British Land’s bold move too late?
QD view - British Land's bold move too late?

Portfolio shake-ups seem to be all the rage among listed property companies at the moment. Those with large exposure to retail certainly need to be doing something to stem the flow to valuation falls. The words horse and bolted come to mind. No-one could have foreseen a global pandemic, but the effects of online retailing […]

Alliance Trust announces stock picker changes

Alliance Trust (ATST) has announced that its investment manager, Willis Towers Watson (WTW), has appointed Metropolis Capital Limited (Metropolis) and Sands Capital Management, LLC (Sands) as two new Stock Pickers for its multi-manager global equity portfolio. Who are Sands Capital Management? With more than $68bn in client assets, Sands is an independent, employee-owned firm based […]

Middlefield Canadian Income outperformed during 2020

Middlefield Canadian Income (MCT) has announced its annual results for the year ended 31 December 2020, during which it outperformed its benchmark, despite the chaotic market conditions. During the year, it provided NAV and share price total returns of -7.2% and -2.3% respectively, both of which are ahead of its benchmark’s return of -8.5%. MCT […]

Hg Capital invests in Auvesy

The Manager of HgCapital Trust, HgCapital, has announced that it has made an investment in AUVESY GmbH, which it describes as a leading global provider of version control and change management software solutions for automated industrial environments. As is customary, the terms of the transaction have not been disclosed and the transaction is subject to […]

Schroder British Opportunities invests in Cera Care

Schroder British Opportunities (SBO) has announced an investment into Cera Care Limited, as part of a new funding round to support the company’s growth plans, in a transaction led by Evolve HealthCare Partners, a pan-European healthcare focused private equity firm. Cera is a technology-enabled home care provider founded and based in the UK. The new […]

QuotedData’s morning briefing 16 April 2021
QuotedData's Morning briefing

In QuotedData’s morning briefing 16 April 2021: Middlefield Canadian Income has announced the the appointment of Ms Kate Anderson as a non-executive director of the Company effective 12 April 2021. The appointment follows the receipt of consent from the Jersey Financial Services Commission. In separate general meetings, shareholders of both Invesco Income Growth Trust and Invesco Select Trust […]

Phoenix Spree Deutschland boosted by rent freeze ruling
Phoenix Spree Deutschland

Phoenix Spree Deutschland, the UK listed investment company specialising in German residential real estate, has seen its share rise 6.5% today on the news that the German Federal Court has ruled against the legality of the Mietendeckel rent freezer in Berlin. Phoenix Spree had estimated that the financial impact of the Mietendeckel, which became effective on 23 […]

NB Distressed still in distress
NB Distressed Debt's run-off continues

NB Distressed still in distress – NB Distressed Debt Investment Fund has published results for the year end 31 December 2020. The fund is in wind-up mode and so the focus is on maximising proceeds from the portfolio and getting that back to investors. There are three principal share classes – ordinary shares (NBDD), extended life […]

Electra sells Sentinel and updates on portfolio

Electra sells Sentinel and updates on portfolio – Electra Private Equity has sold Sentinel Performance Solutions Group (UK manufacturer of products to improve the performance of heating and closed water systems) to Aalberts N.V.. Aalberts is a global industrial technology group headquartered in Utrecht, the Netherlands and listed on the Amsterdam Stock Exchange (www.aalberts.com). Sentinel Following […]

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 […]

Globalworth bid send shares soaring
Globalworth makes €134m acquisition of office complex in Poland

Globalworth bid send shares soaring –  CPI Property Group S.A. and Aroundtown SA have announced the terms of a cash offer for Globalworth Real Estate Investments at €7 per share. The bidding vehicle is Zakiono Enterprises Limited. The offer values Globalworth at approximately €1,571m and represents a premium of approximately: 19.5% over the closing price […]

NewRiver REIT mulls listing pubs business

NewRiver REIT is considering an initial public offering (IPO) of its pubs business Hawthorn as part of a strategic overhaul. The group said one of its strategic priorities was to divest the community pub business “in order to reset our LTV and provide firepower to reshape our portfolio”. This, it said, included a potential IPO […]

British Land moves into logistics development

British Land has acquired a warehouse in Enfield for £87m and has announced plans for 1m sq ft of urban logistics development at two of its shopping centre sites. It is the first foray into the burgeoning logistics sector for the REIT, which has traditionally had a portfolio focused on offices and retail. It has exchanged […]

Merchants Trust grows dividend for 39th year and issues new shares over 2020
Merchants Trust MRCH

Merchants Trust (MRCH) has reported final results to 31 January 2021. The UK equity income trust’s NAV total return with debt at market value fell by 12.4% compared with a 7.5% decrease in the benchmark FTSE all-share index. Around half of the difference was the result of portfolio gearing, which exacerbates market movements, in either direction. This […]

QuotedData’s morning briefing 14 April 2021
CEIBA Investments - Primed for long-term growth

In QuotedData’s morning briefing 14 April 2021 – CEIBA (CBA) announced the admission to The International Stock Exchange (TISE), Guernsey, of the €25m, 10%, senior unsecured convertible bond issue due for repayment on 31 March 2026. CBA is the largest listed international company solely dedicated to investing in Cuba, with interests in the country’s commercial and […]

North American Income Trust delivers healthy revenue despite COVID

North American Income Trust delivers healthy revenue despite COVID – North American Income Trust has published results for the year ended 31 January 2021. Over the period, the NAV total return was -5.7% and the return to shareholders -16.5%. This underperformed the -0.1% return in sterling terms from the Russell 1000 Value Index and the 12.6% […]

US Solar launches fundraise
US Solar Fund

US Solar launches fundraise – US Solar Fund has launched a placing programme to be conducted over the next 12 months which includes an initial placing, offer for subscription and intermediaries offer which has launched today. A prospectus will be published shortly. The initial proceeds are expected to principally be used to fund two transactions: About […]

QuotedData’s morning briefing 13 April 2021

In QuotedData’s morning briefing 13 April 2021: Augmentum Fintech (AUGM) has sold its holding in Dext (formerly Receiptbank). The UK-headquartered digital bookkeeping platform is being acquired by Hg (HGT) for £10.5m. The investment was valued at cost (£7.5m) and made Augmentum an IRR of 30.5%. Separately, Augmentum has made a further follow on equity investment of €2m […]

Weiss Korea Opportunity has a great year

Weiss Korea Opportunity’s (WKOF’s) annual results to 31 December 2020 saw it deliver a total NAV return of 63.7%, which was well above the reference MSCI Korea 25/50 net total return index, which increased by 36.4% in sterling terms. WKOF’s outperformance continued following the period end. As at 31 March 2021, the NAV had increased by […]

Investec sounds out the boards of BH Global and BH Macro on a possible combination
BH Global BHGU

Investec Wealth & Investment (Invested), the largest shareholder in Brevan Howard-managed BH Macro (BHMG) and a major shareholder in BH Global (BHGG), has approached the boards of both funds with a view to a possible combination. Potential combination would include an exit opportunity for those shareholders wishing to exit BHMG said the following in a statement this […]

QuotedData’s morning briefing 12 April 2021
201209 Jupiter US Smaller Companies Brown Advisory JUS

In QuotedData’s morning briefing 12 April 2021 – Jupiter US Smaller Companies (JUS) has released a circular to its shareholders proposing a change in its name to Brown Advisory US Smaller Companies, both to reflect the identity of its new manager and to assist in marketing the company under its new management. JUS made the following […]

QuotedData’s weekly news show 9 April 2021

QuotedData’s weekly news show 9 April 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 UK Public Private slashed the value of its Rutherford Health investment to £34m from £81m SDCL Energy Efficiency’s […]

QD view – shackles to come off in battle for unpaid rent

The moratorium on evictions that has shackled landlords on rent collection is due to come to an end at the end of June – whether it will or not is anyone’s guess as the government has kicked the can down the road since the pandemic started. It will be good news for property owners that […]

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 […]

QuotedData’s morning briefing 9 April 2021

In QuotedData’s morning briefing 9 April 2021: Schroder UK Public Private says it has completed the sale of its shares in Kymab to Sanofi for approximately US$82m. There may be additional contingent payments of up to US$33m, subject to a deferred purchase price release and Kymab achieving certain development and regulatory milestones. Hibernia REIT says that it […]

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 […]

Aberdeen Asian Income held up pretty well in 2020

Aberdeen Asian Income held up pretty well in 2020 –  Aberdeen Asian Income has published results for the year ended 31 December 2020. The company generated an NAV return of 12.9% – behind the 19.0% return generated by the MSCI AC Asia Pacific ex Japan Index but well ahead of the equivalent high yield index […]

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