Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: 0:00 Introduction 2:09 Tritax Eurobox 9:28 Castelnau 13:01 Andrew McHattie 13:22 Major Rises Over the Last Month 15:28 Major Fallers Over the Last Month 15:58 Technology Leading the Way 16:53 Technology Trusts 12-Months 18:17 […]
Castelnau Group (CGL) is up more than 30% over the last five days thanks mostly to an announcement from portfolio company Dignity/Valderrama (which accounts for almost 80% of the trust), which was up 45.7% (with a NAV impact of 43.0%). The primary driver of this uplift is the reduction in net debt which has been […]
In QuotedData’s morning briefing 5 July 2024: US Solar Fund (USF) provided an update for the first quarter ended 31 March 2024. The company saw a NAV total return of 0.9%. Portfolio performance was also down due to lower than expected solar irradiance. Overall generation was 130.6GWh, 11.6% below forecast. Canadian General Investments (CGI) provided […]
Ground Rents Income Fund has reported large valuations declines having released delayed full year results to September 2023 and updated to March 2024. Portfolio values fell 20.7% to £81.5m in the six months to 31 March 2024, having fallen 2.7% in the year to 30 September 2023. The decline included a negative valuation adjustment of […]
NewRiver REIT has acquired an asset management business, boosting its capital partnerships business to £1.5bn across a portfolio of 21 shopping centres and 18 retail parks, with 13 different partners. The company has bought Ellandi Management Limited, an asset and development management business focused on UK retail and regeneration, for £5m. The Ellandi business brings […]
Oryx International Growth’s results for the 12 months ended 31 March 2024 show the trust generating an NAV uplift of 12.2%. However, the share price fell by 1.8% as the discount widened from 19.0% to 29.1%. There is no dividend. The manager notes that performance was driven by takeovers or offers for significant parts of […]
In QuotedData’s morning briefing 4 July 2024: Polar Capital Global Financials (PCFT) has published six-month numbers covering the period ended 31 May 2024. The trust beat its benchmark, returning 18.2% in NAV terms and 23.3% in share price terms versus 15.9% for the MSCI All Countries World Financials Index. [We covered many of the reasons […]
in QuotedData’s morning briefing 3 July 2024: Downing Renewables & Infrastructure (DORE) announced that Downing Hydro has pre-qualified its first hydropower plant site for participation in the Frequency Containment Reserve markets (FCR) in Sweden. The FCR markets serve to stabilise the Swedish grid. The initial site pre-qualified is the Gottne hydropower plant. The site is […]
Merck Mercuriadis, chairman and founder of Hipgnosis Song Management (HSM), the manager of Hipgnosis Songs Fund (SONG) has given notice of his intention to step away as chairman of HSM, effective upon closing of the proposed acquisition of SONG by Blackstone, which is expected to become effective on 29 July 2024 (click here to see […]
Seraphim Space Investment Trust (SSIT) has provided an update including several announcements regarding its portfolio companies including: Voyager Space’s Starlab announces strategic partnership with Palantir Starlab Space, the US-led global joint venture from portfolio company Voyager Space, Airbus, Mitsubishi Corporation and MDA Space, announced Palantir Technologies as a strategic partner. Palantir will become the exclusive […]
Monks Investment Trust (MNKS) announced its annual results for the year end 30 April 2024. The company delivered a NAV total return of 17.6%. The share price total return was +19.1%, inline with the benchmark return of +19.1%. The manager noted that the second half of the year provided much stronger returns than the first […]
Artemis Alpha Trust (ATS) announced its annual report for the year ended 30 April 2024. The company delivered a NAV total return of 15.1%, well ahead of the benchmark index return of 7.5%. Shares rose 12.3%. The discount was 11.7% at the time of publishing. The company noted that during the second half of the […]
AEW UK REIT has reported a NAV total return of 5.0% for the year to the end of March 2024. NAV fell 2.6% to 102.73p per share due to the impact of higher interest rates on the value of its portfolio. However, dividends of 8p per share over the year brought its total return into […]
In QuotedData’s morning briefing 2 July 2024: JPMorgan Global Growth & Income (JGGI) announced that it intends to pay dividends totalling 22.80 pence per share (5.70 pence per share per quarter) in relation to its financial year commencing 1st July 2024. This is in line with its policy of paying out 4.0% of the company’s […]
Tritax EuroBox has announced that it has received more expressions of interest in buying the company, as the deadline for private equity giant Brookfield is extended. The company revealed that following the announcement of Brookfield’s possible cash offer for the company on 3 June, it was now in discussions with a “number of parties” that […]
Chrysalis Investments published its interim results for the six months ended 31 March 2024 on Friday. The NAV rose from 134.65p to 147.46p over the period, an increase of 9.5%, and the share price was up by 33.4%, as the discount narrowed to 43.7%. However, the discount has widened again since as more bad news […]
In QuotedData’s morning briefing 1 July 2024: HG Capital Trust (HGT) has agreed to the sale of F24, a leading European software-as-a-service provider for Business Resilience solutions. The terms of the transaction have not been disclosed and completion is subject to closing conditions. However the transaction will value HGT’s investment in F24 at c.£18.4m. This would […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: Alliance Trust/Witan (0:00) Bankers (9:08) JPMorgan Global Core Real Assets (11:10) Home REIT (13:09) This week’s interview was with Nick Train from Finsbury Growth & Income Trust– watch it again here.
With headlines dominated by a certain £5bn merger and a potential lifeline thrown Regional REIT’s way, I suspect a smaller deal announced by Warehouse REIT may have gone unnoticed. Already on our radar this week due to annual results being published, the company made the surprising additional announcement of a retail park acquisition. That’s not […]
In QuotedData’s morning briefing 28 June 2024: Partners Group Private Equity (PEY) released its NAV update for 31 May 2024. Its NAV decreased by 0.7% to EUR 14.19 per share, with total net assets at €981.43m. This fall was largely the result of negative currency movements, which detracted 0.7%. This was slightly offset by value […]
SEGRO has acquired three fully leased logistics warehouses in The Netherlands for €222m. Undertaken via three separate transactions the assets build on SEGRO’s scale in a region, which acts as a key logistics hub for Continental Europe as well as the Dutch domestic market. They total 172,300 sqm of additional space and are in-line with […]
Target Healthcare REIT has completed the disposal of four UK care homes for £44.5m at a modest premium to the book value at 31 March 2024. The sales price reflects a net initial yield of 5.64%. Proceeds from the disposal, which represented 326 beds and 4.6% of the group’s overall portfolio value, will enable a […]
Regional REIT has announced a capital raising of £110.5m through a fully underwritten placing. The company has also announced a 1 for 10 share consolidation. The capital raising, which is being underwritten by Bridgemere Investments, will enable the company to fully repay a £50m retail bond that is due to mature in August. The remainder […]
SDCL Energy Efficiency Income Trust (SEIT) has published its annual results for the year ended 31 March 2024, during which its NAV has fallen to 90.5p per share as at 31 March 2024 from 101.5p a year prior. This includes a reduction of 11p from a 90bps increase in weighted average unlevered discount rate during […]
Harworth Group has sold a parcel of land near Leeds to Microsoft for £106.6m for the development of a hyperscale data centre. The 48 acres of land at Harworth’s Skelton Grange site will be sold in two phases. The first plot, which comprises 27 acres, will be sold for £52.9m with completion expected in the […]
In QuotedData’s morning briefing 27 June 2024: Harmony Energy Income (HEIT) announced its interim results for the six-month period ended 30 April 2024. The NAV total return over the period was 14.89%, while shares fell 57%. Schroder British Opportunities (SBO) announced the appointment of Justin Ward and Jemma Bruton as independent non-executive directors of the […]
Alliance Trust (ATST) and Witan Investment Trust (WTAN) have announced that the two companies will combine to form Alliance Witan. Under the new deal, Witan’s assets will be rolled into Alliance Trust in exchange for the issue of new ordinary shares in the newly-named Alliance Witan. Specifics of the deal include: Alliance Trust’s investment strategy, […]
The Global Smaller Companies Trust (GSCT) announced its annual results for the year ended 30 April 2024. The company delivered a NAV total return of 9.0% (2023: -2.9%) versus 11.3% for the benchmark (2023: -2.1%). The share price total return was 12.7% (2023: -6.2%). The company also announced a 22.2% increase in its dividend, the […]
Sequoia Economic Infrastructure (SEQI) has announced its annual results for the year ended 31 March 2024. The company delivered a NAV total return of 8.1% for the year, in excess of target return of 7-8%. Total dividends were 6.875p per ordinary share, in line with the target of a 10% increase. The share price total […]
Bankers (BNKR) has announced its interim results for the half year ended 30 April 2024. The trust delivered a strong NAV total return over the six months of 17.5% (2023: 8.1%) and a share price total return of 21.5% (2023: 5.4%), both returns outperforming the benchmark index return of 16.6% (2023: 3.5%). The company’s Japanese […]
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