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12 Aug 2022

QuotedData’s weekly news show 12th August 2022

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: • Independent/Monks • BioPharmaCredit • Trian Investors 1 This week’s interview was with David Smith of Henderson High Income – watch it again here. previous […]

12 Aug 2022
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QD view – meaningful mergers

Earlier this week the board of the Independent Investment Trust (IIT) announced plans to merge the company with Baillie Gifford’s Monks Investment Trust (MNKS). IIT’s shareholders can opt for a full cash realisation or choose to have their money rolled over into Monks (so would not be subject to capital gains tax), which follows similar […]

12 Aug 2022

Sweden: a smörgåsbord of innovation.

What do the zip, the monkey wrench and Tetra Pak packaging have in common? They were innovations commercialised in Sweden. Investment manager Stephen Paice shares why he likes Swedish companies. The value of an investment, and any income from it, can fall as well as rise and investors may not get back the amount invested. […]

12 Aug 2022

Octopus Renewables buys stake in Crossdykes windfarm

Octopus Renewables Infrastructure Trust has agreed to buy a 51% ownership interest in the Crossdykes Onshore Wind Farm. The remaining 49% is being acquired by another Octopus managed fund. Crossdykes, located in southern Scotland, was developed by Muirhall Energy and has been operational since June 2021. It is amongst the largest unsubsidised wind farms in […]

12 Aug 2022

HydrogenOne backs Strohm pipeline business

HydrogenOne Capital Growth is making an investment of £8.4m (EUR 10m) in Strohm Holding B.V. HydrogenOne is investing alongside Strohm’s existing investors Shell Ventures, Chevron Technology Ventures and Evonik Venture Capital, in the first close of a funding round totalling £11.8m (EUR 14m). HydrogenOne may also invest up to a further £1.7m (EUR 2m) in […]

12 Aug 2022

QuotedData’s morning briefing 12 August 2022

In QuotedData’s morning briefing 12 August 2022: abrdn Private Equity Opportunities (APEO) says that its estimated NAV at 31 July 2022 was 710.4p, down from 727.3p at the end of June, largely driven by a weaker euro and a dividend payment. Excluding new investments, 98.2% by value of portfolio was valued as at 31 March […]

11 Aug 2022

QuotedData’s morning briefing 11 August 2022

In QuotedData’s morning briefing 11 August 2022: Princess Private Equity (PEY) notes that Kohlberg & Company is acquiring a 50% stake in United States Infrastructure Corporation, the leading North American provider of utility location services. Clients of Partners Group including Princess will retain a 50% co-lead interest. The transaction values Princess’ stake at approximately $34.4m versus […]

10 Aug 2022

CT Global Managed Portfolio underperforms benchmark during tough year

CT Global Managed Portfolio underperforms benchmark during tough year – CT Global Managed Portfolio has posted its annual report covering the 12 months to 31 May 2022. During the period, Columbia Threadneedle Investments acquired BMO’s EMEA asset management business, which included the company’s manager, BMO Investment Business Limited. Consequently, a change of name for the […]

10 Aug 2022

QuotedData’s morning briefing 10 August 2022

In QuotedData’s morning briefing 10 August 2022: abrdn European Logistics Income (ASLI) has signed the purchase agreement for the acquisition of the recently completed warehouse extension at Waddinxveen, in the Netherlands, for a total net purchase price of €4.9m. ASLI exercised its right of refusal over this development located directly next to the existing warehouse […]

09 Aug 2022

Small cap bias drags down Diverse Income

Diverse Income’s results for the financial year ended 31 May 2022 show it delivering a return on NAV of -3.4%, some way behind the +4.7% return generated by the Numis All-Share Index. A widening discount left shareholders with a return of -10.5%. The board views the recent widening as temporary but remains willing to use […]

09 Aug 2022

Baillie Gifford US back to square one

Baillie Gifford US Growth has published results for the 12 months ended 31 May 2022. Those of a nervous disposition should look away now – over the period, the share price and NAV returned -45.5% and -35.3% respectively, which compares with a total return of +12.2% for the S&P 500 Index. Effectively, this gives back […]

09 Aug 2022

Independent and Monks combine forces

The board of The Independent Investment Trust has agreed heads of terms with the board of Monks Investment Trust to combine the companies by way of a scheme of reconstruction under Section 110 of the Insolvency Act 1986 and a voluntary winding up of Independent. Independent shareholders will be able to elect either to receive […]

09 Aug 2022

QuotedData’s morning briefing 9 August 2022

In QuotedData’s morning briefing 9 August 2022: BioPharma Credit (BPCR) has a US$132.5m investment in a senior secured loan to Global Blood Therapeutics. Yesterday Pfizer Inc. announced a definitive agreement to acquire Global Blood Therapeutics. The loan was invested in three different tranches with each tranche subject to different prepayment economics. Assuming the prepayment occurs […]

08 Aug 2022

SEED Innovations boosts investment in South West Brands

SEED Innovations boosts investment in South West Brands – SEED Innovations (SEED) has invested a further £50,000 in South West Brands Limited, a London-based company that builds and commercialises the “wellness and beauty brands of the future”. The investment is by way of a three year, 8% Convertible Loan Note as part of a funding round […]

08 Aug 2022

QuotedData’s morning briefing 8 August 2022

In QuotedData’s morning briefing 8 August 2022: Aberdeen New India (ANII) has entered into a new three year revolving credit facility of £30m with The Royal Bank of Scotland International, which replaces its £30m loan facility (also with RBSI), which matures on 5 August 2022. £30m of the facility has been drawn down and used […]

05 Aug 2022

QuotedData’s weekly news show 5th August 2022

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: • JLEN Environmental Assets • Fundsmith Emerging Equity This week’s interview was with Kamal Warraich of Canaccord Genuity Wealth Management – watch it again here. […]

05 Aug 2022

Interview with Kamal Warraich of Canaccord Genuity Wealth Management

In this week’s show, James Carthew talked to Kamal Warraich of Canaccord Genuity Wealth Management. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us. Additionally, if you would prefer to […]

05 Aug 2022

QD view – The logistics paradox

The logistics sector is in a curious place right now. Comments from Amazon (the market leader in occupier take-up of logistics space over the last few years) about slowing the pace of its warehouse expansion have freaked the market. Meanwhile interest rate rises will almost certainly see investment yields erode as the cost of capital […]

05 Aug 2022

Home REIT expands with £85m acquisitions

Home REIT has acquired 199 properties for homeless accommodation for £85.1m, as it continues to deploy the proceeds of its £263m equity raise in May. The company has now deployed a total of £170m (66%) of the proceeds with this latest tranche, which adds a further 869 beds to its portfolio bringing the portfolio total […]

05 Aug 2022

QuotedData’s morning briefing 5 August 2022

In QuotedData’s morning briefing 5 August 2022: Fidelity European (FEV) has announced its interim results for the six months ended 30 June 2022. During the period, FEV’s total return was -12.0%, which it says compares to a total return of -15.1% for the FTSE World Europe (ex UK) Index which is the Company’s Benchmark Index. […]

04 Aug 2022

Invesco Select results a mixed bag

Generally, Invesco Select Trust’s various asset class portfolios had a mixed financial year to end May 2022. The global equity income portfolio beat its benchmark, returning 9.6% in NAV terms relative to 7.4% for the MSCI World Index. However its share price return was 4.4%, reflecting a widening discount. The UK equity portfolio, which returned […]

04 Aug 2022

Schroder British Opportunities tops up Cera investment

Schroder British Opportunities Trust has made an additional investment into Cera Care, Europe’s largest provider of digital-first home healthcare. Cera has raised $320m (~£260m) in equity and debt to expand from servicing 15,000 to 100,000 at-home patients each day. One very welcome effect of this should be to free up NHS beds and boost the […]

04 Aug 2022

Pantheon will battle discount with buybacks

Pantheon International’s results for its financial year ended 31 May 2022 are very good. The NAV total return for the period was 31.0%, well ahead of the 7.8% return posted by the MSCI World Index. However, discount widening left shareholders with a return of 8.6%. The trust’s returns were boosted by weak sterling. However, even […]

04 Aug 2022

Henderson Smaller Companies suffers in growth selloff

Henderson Smaller Companies has published results for the 12 month period ending 31 May 2022. The trust underperformed its benchmark over the year, delivering an NAV total return of -17.8% against -9.5% for the Numis Smaller Companies Index (ex Investment Companies). A widening of the discount left shareholders with a return of -27.0%. On the […]

04 Aug 2022

QuotedData’s morning briefing 4 August 2022

In QuotedData’s morning briefing 4 August 2022: JLEN Environmental Assets says that its end June NAV was 123.1p, up 7.8p from 31 March. The drivers of this were higher fixed prices (+1.2p), higher seasonal forward pricing (+1.5p), and changes to long term forecasts from independent consultants (+5.8p). Our assumption would be that these uplifts reflect […]

03 Aug 2022

NextEnergy Solar secures subsidised UK solar contracts

NextEnergy Solar secures subsidised UK solar contracts – NextEnergy Solar (NESF) has secured additional subsidised solar contracts in the UK comprising contracts on 86MW of planned additional capacity through the fourth Contracts for Difference (CfD) Allocation Round (AR4) announced last month. The CfDs have been secured for 100% of the generating capacity of Whitecross (36MW) […]

03 Aug 2022

QuotedData’s morning briefing 3 August 2022

In QuotedData’s morning briefing 3 August 2022: European Assets (EAT) has posted its half-year results for the six months to 30 June 2022. During the period, its NAV fell by 31.4% while its share price fell by 31.8%. The chair said the trust has been hit by the aggressive market sell-off exacerbated by the war […]

02 Aug 2022

Invesco Asia holds up well in falling market

Invesco Asia has published results for the 12 months ended 30 April 2022. The trust beat its benchmark in a falling market, returning -6.7% against -12.9% for the MSCI Asia ex Japan Index. The discount widened from 8.2% to 11.9% and, therefore, the return to shareholders was -10.0%. The fund has continued to outperform since […]

02 Aug 2022

QuotedData’s morning briefing 2 August 2022

In QuotedData’s morning briefing 2 August 2022: Ed Warner, OBE has been appointed chair of JLEN Environmental Assets with effect from 2 August 2022, succeeding Richard Morse who stepped down on 15 July 2022. Ed brings extensive financial services experience from his time spent in senior positions at several investment banks and financial institutions, including […]

01 Aug 2022

Foresight Sustainable Forestry acquires trio of afforestation projects and signs new RCF

Foresight Sustainable Forestry acquires trio of afforestation projects and signs new RCF – Foresight Sustainable Forestry (FSF) has acquired a further three afforestation sites in Scotland (deploying £3.8m, inclusive of tax and other transaction costs) and has also signed a £30m Revolving Credit Facility agreement. On 15 July 2022, FSF completed the acquisition of Droveroad […]

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