In QuotedData’s morning briefing 6 November 2024: GCP Asset Backed Income Fund (GABI) announced a quarterly dividend in respect of the period from 1 July 2024 to 30 September 2024 of 1.58125 pence per ordinary share. The board also confirms that the second compulsory redemption will total £45.0m at a price of 89.33875 pence per […]
International Biotechnology Trust (IBT) announced its annual results for the year ended 31 August 2024. The company delivered a NAV total return of 15.9%, outperforming the reference index which returned 15.3%. Despite the strong performance the discount continued to widen during the year, leading to a share price total return per share of 10.3%. The […]
Following the announcement on 3rd September 2024 that the JPMorgan Global Core Real Assets (JARA) continuation vote had not been passed by shareholders, the board and its advisers have been consulting with the company’s largest shareholders on the options open to the company. Having completed that consultation process, the board has now concluded that it […]
In QuotedData’s morning briefing 5 November 2024: BBGI Global Infrastructure (BBGI) announced that the group has secured an amendment and extension to its multi-currency revolving credit facility (RCF) with three existing lenders (ING, DZ, KfW) and Barclays as the new fourth lender, replacing SMBC. Under the new agreement, the commitment size has been reduced from […]
JPMorgan Global Emerging Markets Income (JEMI) has released its annual financial results for the year ended 31st July 2024, during which it provided an NAV total return of +6.3%, closely aligning with its benchmark, the MSCI Emerging Markets Index, which returned 6.4%. JEMI provided a share price total return of +5.4%. Longer term, JEMI has […]
Weiss Korea Opportunity Fund’s (WKOF’s) manager has told the board that it believes that “the opportunity set and strategy for the fund continuing in its current form is less attractive than it has been in the past”, including at WKOF’s launch inception in 2013, “and that it does not think this change in circumstances is […]
In QuotedData’s morning briefing 4 November 2024: Partners Group Private Equity (PEY/PEYS) saw its NAV increase by 0.5% during September to €14.24 per share, with total net assets at €984.62m. PEY says that positive value creation (0.9%) was partially offset by adverse currency movements (-0.3%). KinderCare, PEY’s fifth largest portfolio company, was the largest contributor […]
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: Golden Prospect Precious Metals (0:22) Asia Dragon / Invesco Asia (4:08) Ashoka WhiteOak Emerging Markets (8:49) Andrew McHattie pondered whether it was right to chase the big jump in Tetragon’s share price (10:10). Tetragon […]
QD view: The budget has been dominating headlines this week. We set the scene and covered the big changes in the budget earlier in the week. The question is, what effect will this have on the UK economy and the trusts that are exposed to it? National Insurance hit to big employers This week’s interview […]
Golden Prospect Precious Metals (GPM) has released a reminder for investors of their right to subscribe for one new ordinary share of GPM in respect of every five ordinary shares held at 6pm on 29 November 2024. As at 30 October 2024, the share price is 46.00 pence, which is 10.06 pence or 28% above […]
AI’s rapid development and uptake pose a growing resource challenge. However, companies creating the solutions to tackle that challenge offer a growing opportunity for investors, even as the technology itself can help shape environmental markets. Executive Summary AI is already proving invaluable in enabling climate solutions, for example in energy efficiency, environmental technologies and forecasting. […]
The board of residential Secure Income (RESI) notes that Gresham House and Thriving Investments have launched a new partnership to create a dedicated shared ownership and affordable housing fund management platform in the UK, as separately announced this morning. This partnership is focused on the management of the private fund Gresham House Residential Secure Income LP. Under […]
In QuotedData’s morning briefing 1 November: BioPharma Credit (BPCR) announced that it has made an additional investment in Insmed Incorporated following its initial loan made in October 2022. The company is investing US$60m in a new US$150m, with BioPharma-V investing US$90m. Together with the accrual and capitalization of the partial paid-in-kind interest, the company’s total […]
VH Global Sustainable Energy Opportunities has completed the construction and commissioning of two solar and storage hybrid systems in New South Wales, Australia. The assets comprise solar PV sites with DC-coupled two-hour 4.95MW battery energy storage systems . The trust already has two operational assets in Australia. Following the completion of these two sites, 67% […]
BioPharma Credit has made a new investment in a US$35m tranche of a US$200m senior secured loan to Alphatec Holdings, Inc. BioPharma Credit Investments V (Master) LP also took an additional US$35m tranche. The pre-existing loan was assigned to the BioPharma funds by Braidwell Transaction Holdings LLC – Series I, it will retain the remaining […]
Henderson International Income has reported results for the 12 months ended 31 August 2024. The NAV return for the year was 10.4%, and – as the discount widened from 8.1% to 11.7% – the share price return was 6.5%. This is well behind the return on the company’s MSCI ACWI (ex UK) High Dividend Yield […]
In QuotedData’s morning briefing 31 October 2024: Augmentum Fintech says nCino, a NASDAQ listed US digital banking platform, has agreed to acquire FullCircl. The deal implies a £6m valuation for Augmentum’s stake, which represents a 75% increase on the last published valuation of £3.4m as at 31 March 2024. Augmentum Fintech first acquired its interest […]
As the day progresses, we’ll aim to cover the main budget-related stories here. In QuotedData’s October 2024 budget day briefing: Some measures have already been announced (and the Government has been criticised for doing so before announcing them in the House of Commons): an increase in maximum single bus fares from £2 per journey to […]
Gabelli Merger Plus (GMP) announced its annual results for the 12 months to 30 June 2024. The company generated a NAV total return of 3.14% for the period while the share price total return was 5.4%, narrowing the discount to 10.4% The company also declared and paid three quarterly interim dividends totalling $0.48. Discussing the […]
In QuotedData’s morning briefing 30 October 2024: NBPE announced that the company will request the admission to and trading of the 2024 zero dividend preference shares be cancelled. The cancellation will follow the redemption of the 2024 zero dividend preference shares, with effect from 12:00 pm on 30 October 2024. As previously announced, the maturity […]
Ahead of tomorrow’s budget, here is the state of play as we understand it and some guesses as to what is in and out of the running You can access a pdf version of this note here Income tax Increases ruled out in manifesto (Labour will not increase taxes on working people) Thresholds unchanged, these […]
Baillie Gifford Japan’s results for the 12 months ended 31 August 2024 show it lagging its benchmark TOPIX Index by 4.7 percentage points – the benchmark return was 14.7%, the NAV return was 10.0%, the share price return was even worse at 4.4%. The dividend is being maintained at 10p. 5,515,000 shares or around 6% […]
In QuotedData’s morning briefing 29 October 2024: Murray Income Trust (MUT) has a new, £30m (extendable to £50m) unsecured, three year multi-currency revolving credit facility with The Royal Bank of Scotland which will expire on 22 October 2027. CHF363,000, USD2.4m, EUR4.05m, NOK4.275m and DKK2.75m (equivalent to £6.1m in aggregate) has already been drawn down and […]
The boards of Asia Dragon Trust and Invesco Asia have agreed heads of terms on a proposed combination of the two companies. The Asia Dragon board said it received interest from a large number of management groups during its strategic review but said that it believed Invesco Asia’s active core Asia (ex-Japan) investment strategy, alongside its […]
In QuotedData’s morning briefing 28 October 2024: VietNam Holding (VNH) announced that the final number of shares validly tendered for redemption for 2024 is 3,411,748 shares. This reduced number represents approximately 12.57% of shares in issue as at 31 August 2024. All shareholders who validly applied to have their shares redeemed will receive the redemption price […]
Cordiant Digital Infrastructure (CORD) has, in partnership with TINC NV (TINC) and another Cordiant-managed fund, agreed to acquire and combine Belgian data centre provider DCU Invest NV (Datacenter United, or DCU), and the data centre business of Proximus Group (the PDC Business). CORD and the other Cordiant-managed fund will acquire a 47.5% economic interest in […]
Oakley Capital Fund III has agreed to sell its majority stake in Schülerhilfe to Levine Leichtman Capital Partners. The completion of the transaction is subject to regulatory approval. Schülerhilfe is the leading provider of professional tutoring services to primary and secondary school students across Germany, Austria and Switzerland, with over 140,000 students across c.1,200 branches. […]
CQS Natural Resources Growth and Income has published results for the year ended 30 June 2024. It delivered an NAV total return in the year under review of 7.2%. This is similar to the return of 7.3% produced by the MSCI World Metals and Mining Index (sterling adjusted) but lagged the 17.4% return from the […]