This week seems to have been the grand finale of an eventful month for Western politics, culminating with the sudden withdrawal of Biden and the rise of Kamala Harris, which appears to have reinvigorated that contest. Biden’s exit followed an attempt on Trump’s life, the discord resulting from the French election, and the Labour Party […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: Jupiter Green (0:25) Hammerson (6:37) Unite (11:20) This week’s interview was with Henry Butt from AEW UK REIT – watch it again here.
Jupiter Green (JGC) has published its annual results for the year ended 31 March 2024, during which its NAV has increased by 1.3% and its share price has fallen by 19.2%, both significantly underperforming the MSCI World Small Cap index, which returned 11.5%. The discount at the end of the year was 31.33%, having started […]
Invesco Asia (IAT) has published its annual report for the year ended 30 April 2024 during which it provided an NAV total return of 2.7% and share price total return of 2.2%, both markedly underperforming its benchmark, which returned 7.9%. The underperformance came mainly from stock selection within China and the underweight allocation to India. […]
In QuotedData’s morning briefing 26 July 2024: Law Debenture (LWDB) has published its interim results for the six months ended 30 June 2024, during which it provided an NAV total return (with debt and Independent Professional Services (IPS) business at fair value) of 9.7%, and share price total return of 7.7%, both outperforming its All-Share […]
MIGO Opportunities has published results covering the 12 month period ended 30 April 2024. The NAV rose to 362.6p (2023: 328.6p), giving a total return of +11.3%. The share price ended the year at 346.0p, giving a total share price return of +9.6%. The company’s performance objective is to beat the return on SONIA plus […]
VH Global Sustainable Energy Opportunities is buying a portfolio of seven solar and two wind assets across Europe. The transaction will be completed in two phases. Once fully operational, the portfolio will have a total installed capacity of 248.4MW and will be expected to generate 489,900 MWh per year. The first phase of the investment […]
HICL has published an interim update statement, covering the period from 1 April 2024 to 24 July 2024. It says that it is on track to deliver its target 8.25p dividend for the year. The revolving credit facility (RCF) was repaid in May 2024 and the company began a £50m buyback programme. 7,050,000 shares have […]
In QuotedData’s morning briefing 25 July 2024: JPMorgan European Discovery (JEDT) has announced a timetable for the first of the tenders that were announced on 20 June. There will be a meeting on 2 September to approve the tender. Forms will need to be in by 3 September, the result of the tender will be […]
Oakley Capital Investments (OCI) has released a trading update with its interim results for the six months to 30 June 2024. The company delivered a NAV total return of 3.8% over the period which was 5.6% before foreign exchange impact. The share price total return was 4.16%. The company noted that the underlying businesses in its […]
Herald Investment Trust (HRI) has announced its interim report for the six months to 30 June 2024. The company delivered a NAV total return of 11.4% and a share price total return of 13.7% comfortably outperforming comparative benchmark returns. The company noted that there was a large divergence across geographies during the period. The best […]
In QuotedData’s morning briefing 24 July 2024: Greencoat UK Wind (UKW) announced its interim report for the six months to 30 June 2024. The company saw a NAV total return of -2.9% and a share price total return of -4%. The company declared total dividends of 5 pence per share with respect to the period […]
Unite Group has raised £450m in a placing, with the proceeds earmarked for a number of student accommodation acquisitions and development projects. A total of 49,686,114 new ordinary shares were placed, raising gross proceeds of approximately £447m. Shares were issued at a price of 900 pence, representing a discount of 2.6% to the closing price […]
Taylor Maritime Investments (TMI) has announced its full year results for the financial year ended 31 March 2024. The company saw a NAV total return of -9.0% while the share price total return was -11.2%. The company declared dividends of 8.00 US cents per share (31 March 2023: 10.97 US cents). In addition, it declared […]
In QuotedData’s morning briefing 23 July 2024: Digital 9 Infrastructure (DGI9) announced the appointment of Mr Philip Braun as an independent non-executive director of the company with effect from 22 July 2024. Further to the company’s announcement on 12 June 2024 and following Mr Philip Braun’s appointment to the board of DGI9, Mr Aaron Le […]
Hammerson has sold its retail outlets business Value Retail for £1.5bn, generating cash proceeds of £600m. The disposal of the stake in Value Retail, which holds nine outlet centres across the world including Bicester Village, was at a price that represented an exit cash yield of 3.4% and crystallised a 10-year IRR of 13%. It was, […]
Ruffer (RICA) has published its “Investment Manager’s Year End Review” for the year ended 30 June 2024. This review, which is unaudited, is intended to give shareholders unaudited key performance indicators and a portfolio review in a timely fashion. The net asset value (NAV) total return for the financial year to 30 June 2024 was […]
Bluefield Solar Income Fund (BSIF) has signed phase 2 of its strategic partnership with GLIL Infrastructure (GLIL), which is the agreement to sell a 50% stake in a 112MW portfolio of 1.4 and 1.3 ROC UK solar assets currently owned by Bluefield Solar. Proceeds from the sale will be used to repay a portion of […]
In QuotedData’s morning briefing 22 July 2024: CQS Natural Resources Growth and Income (CYN) has declared its fourth interim dividend of 1.82p per share for the year ended 30 June 2024 (2023: 1.82 pence per share). It has also declared an additional special interim dividend of 1.00p per share, reflecting the fact that underlying core […]
Baroness Sharon Bowles has secured the chance to present a private members’ bill – the Listed Investment Companies (Classification etc) Bill [HL] – in the ballot to chose the first 25 private members’ bills to be considered by the House of Lords in this new parliament. The introduction of the bill is scheduled for Thursday […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Invesco Perpetual UK Smaller Companies (0:43) Gore Street Energy Storage (3:37) This week’s interview was with Chris Clothier from Capital Gearing – watch it again here.
The healthcare and biotechnology sector has some natural tailwinds: ageing populations, rising emerging market wealth, innovation and rising healthcare utilisation. However, while pharmaceutical companies have been stable, biotechnology has been hit by poor sentiment and rising interest rates. Nevertheless, there are signs of recovery. The sector is diverse. Funds such as Polar Capital Global Healthcare […]
In QuotedData’s morning briefing 19 July 2024: Following an announcement on 22 May 2024 that it intended to offer its shareholders an “elective return of capital” for up to 10% of its issued share capital, Invesco Perpetual UK Smaller Companies (IPU) has now published a circular in relation to the provision of an elective Special […]
The Apax X Fund (which Apax Global Alpha has a stake in) has announced the sale of its minority stake in AffiniPay. AffiniPay is a market leader in professional services software and payments serving legal, accounting, architectural, engineering and construction firms. The buyers are Genstar Capital and TA Associates (TA Associates has been a stakeholder […]
Octopus Renewables Infrastructure Trust has entered into a conditional agreement to sell its Ljungbyholm onshore wind farm in Sweden to a German institutional investor for total consideration of approximately €74m. The sale price is in line with the NAV as at 31 March 2024 and will realise an IRR of approximately 11% over the lifetime […]
In QuotedData’s morning briefing 18 July 2024: Odyssean Investment Trust (OIT) raised £11.4m from its placing and retail offer (the latter made through Winterflood’s WRAP platform). 6,542,159 new shares will be issued at 174p each (NAV plus 1%), 361,041 of those were to the retail offer. [This isn’t too bad in the current environment, although, […]
Polar Capital Technology Trust (PCT) has released its annual report for the year ended 30 April 2024. The company’s NAV per share increased by 40.8%, versus an increase in the benchmark of 38.9% in sterling terms over the same period. Shares were up 50.8%. The discount was 7% at the time of publishing. The manager […]
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, […]
The struggles with Infrastructure India (IIP) have continued as it has announced that following the director resignation announced on 12 July 2024, the board, which comprises two directors, is no longer quorate under the company’s articles of association and is therefore not able to operate effectively, with the powers of the directors limited to the […]
The board of Home REIT has proposed a managed wind down of the company after failing to secure a refinancing of its debt facility. That loan facility with Scottish Widows, which totals £114.6m, will need to be repaid by the end of the year – all the while incurring a charge on the outstanding amount […]
