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Standard Life Investments Property Income industrials bet pays off
Standard Life Investments Property Income industrials bet pays off

Standard Life Investments Property Income industrials bet pays off – Standard Life Investments Property Income has reported results for the year ended 31 December 2018. Highlights were: Fall in EPRA earnings per share to 4.22p from 4.99p Dividend maintained at 4.76p NAV increased to 91.0p from 87.6p NAV total return of 9.6% in the year, […]

QuotedData’s other news – 18 April 2019

QuotedData’s other news – 18 April 2019 TriplePoint Social Housing REIT has bought six supported housing properties and acquired the land and entered into forward funding arrangements to develop another two supported housing schemes, comprising 80 units in total, for an aggregate commitment of GBP14.8 million. These leases are with specialist housing associations, including Falcon Housing Association, […]

Intu cuts debt with Intu Derby sale
Intu cuts debt with Intu Derby sale

Intu cuts debt with Intu Derby sale – intu properties and Cale Street Investments LP (an investment firm backed by the Kuwait Investment Office, London) have announced the establishment of a 50/50 joint venture for the intu Derby shopping centre. Cale Street will acquire for cash half of the centre. The deal values their share of […]

Hg tops up Visma stake

Hg tops up Visma stake – Hg, the manager of HgCapital Trust has agreed to make a further investment in Visma, a leading provider of business-critical software (mostly through a software as a service or Saas model) to private and public enterprises in the Nordic, Baltic and Benelux regions. Cinven, the global private equity firm, will […]

QuotedData’s other news – 17 April 2019

QuotedData’s other news – 17 April 2019 AVI Japan Opportunity (AJOT) announced this morning that based on a conviction that there is still a significant amount of unlocked value in quality over-capitalised smaller companies in Japan, it is considering raising additional capital through a share issue. AJOT floated in October 2018 and by February this […]

Local Shopping REIT recommending rejection of Thalassa offer
Local Shopping REIT LSR property disposal programme

Local Shopping REIT recommending rejection of Thalassa offer – Local Shopping REIT’s (LSR) board has this morning announced that any shareholders who have accepted an offer from Thalassa Holdings will be entitled to reverse their decision from 1pm onwards today. LSR’s board is against the sale of the company to Thalassa as they believe shareholders […]

SDCL Energy Efficiency Income raises £72m
SDCL Energy Efficiency Income makes first US acquisition

SDCL Energy Efficiency Income raises £72m – SDCL Energy Efficiency Income Trust (SEIT) has announced that it has raised £72m in a new ordinary share placing. The company floated recently (December 2018), raising £100m, and the latest injection of equity will allow it to push forward with some of the acquisition opportunities it is currently […]

QuotedData’s other news – 16 April 2019

QuotedData’s other news – 16 April 2019 Infrastructure India (IIP) announced this morning that it has drawn down a further US$26.3m under the financing agreement with IIP Bridge Facility LLC announced earlier this month. We wrote the $105m total loan agreement earlier this month and also looked at the major issue’s IIP has been facing. […]

Highbridge Multi-Strategy anticipating volatility spikes

Highbridge Multi-Strategy anticipating volatility spikes – Highbridge Multi-Strategy (HMSF), the UK-focused multi-strategy hedge fund, invests across several areas, including, equity, volatility and macroeconomic-based events. The trust today announced its annual results for the year to December 31, 2018, with total return NAV down 2.02% in sterling terms. Although they were disappointed not to deliver a […]

Merian Chrysalis raises £100m in share placing
Princess private equity PEY PEYS

Merian Chrysalis raises £100m in share placing – Merian Chrysalis (MERI), the UK-focused private equity fund launched in 2018, has announced the raising of £100m from an ordinary share placing. The new money will be directed towards growing its portfolio of investments into unquoted companies. Busy straight away Earlier in December 2018, we looked at […]

QuotedData’s other news – 15 April 2019

QuotedData’s other news – 15 April 2019 Target Healthcare has completed the acquisition of a property in Formby, Merseyside for approximately GBP6.9 million PRS REIT said that, at 31 March 2019 it had GBP603m in gross development cost, which equates to 3,951 new homes with an estimated rental value (“ERV”) of approximately GBP37.3m per annum […]

Warehouse REIT buys in Northampton and Aberdeen

Warehouse REIT buys in Northampton and Aberdeen – Warehouse REIT has exchanged contracts to acquire a multi-unit estate in Northampton let to John Lewis and a multi-let industrial estate in Aberdeen. The assets were purchased in two separate transactions for a total consideration of GBP37 million, reflecting a blended net initial yield of 6.6%. In Northampton, […]

Polar Capital Technology amends fees
Polar Capital Technology amends fees

Polar Capital Technology amends fees – Polar Capital Technology’s board has decided to amend its management fee to reflect the growth of the fund, strong performance in both absolute and relative terms, and in light of the impact of MiFID II with regard to contributions to research costs. Going forward, the trust will no longer make […]

Green REIT up for sale

Green REIT up for sale – In a surprise move, Green REIT has joined the growing number of funds that have decided to give up and hand back cash to shareholders. The board of Green REIT has undertaken a comprehensive and carefully considered review of the strategic options open to the company to maximise value […]

ICG Enterprise conviction pays off
ICG Enterprise conviction pays off

ICG Enterprise conviction pays off – ICG Enterprise has published results for the year ended 31 January 2019. Highlights include: NAV per share of 1,057p – total return of 12.4% in the year, annual dividend of 22p Growth driven by strong profit growth and realisation uplifts 10th consecutive year of double digit underlying portfolio growth […]

Establishment Investment set to wind-up
Establishment Investment Trust to wind up?

Establishment Investment set to wind-up – Earlier in November 2018, we wrote about the potential wind up of Establishment Investment (ET), after the company’s board recommended shareholders vote to not continue the trust (click here to read more on this story). ET have announced today that their board received a number of proposals and, following […]

Yellow Cake closer to critical mass
Yellow Cake closer to critical mass

Yellow Cake closer to critical mass – Yellow Cake, the investor in physical uranium, has just announced that 12,000,000 new shares have been placed with existing and new institutional investors at a price of £2.15 per share. The company had been looking to raise $30m but had sufficient demand up to the issue size to £25.9m […]

Hipgnosis targets £100m share placing injection
Hipgnosis Songs Fund : SONG

Hipgnosis targets £100m share placing injection – On 1 April 2019, Hipgnosis (SONG) announced that it had, since IPO, acquired, or entered into exclusivity agreements to acquire, catalogues with a total value of £234.1m, that it had identified a number of further significant catalogues for potential acquisition and that it was contemplating an equity raise […]

Marble Point Loan Financing results reflect tough year for CLOs
Marble Point Loan Financing : MPLF

Marble Point Loan Financing results reflect tough year for CLOs – Marble Point Loan Financing (MPLF) had a difficult year to December 31, 2018, as the downturn in the loan market in the fourth quarter of 2018 ate into NAV performance. The company invests in US loans directly and indirectly through investments in collateralised loan […]

North American Income delivers once more

North American Income delivers once more – North American Income (NAIT) had another good year (to January 31, 2019), outperforming its benchmark and delivering income growth, on the back of solid stock selection by its managers. Financial highlights Total return NAV per share rose by 4.8% on a total return basis in sterling terms. This […]

Acorn Income discount widens as investors retreat from small-cap
Acorn Income AIF

Acorn Income discount widens as investors retreat from small-cap – Acorn Income (AIF), the UK-focused small-cap equity and fixed-income trust, discusses the difficulties it faced in 2018 and the outlook for its strategy, in its annual report published today, covering the year to December 31. The company invests in two portfolios – smaller companies (70-80%) […]

Syncona establishes retinal gene therapy platform

Syncona establishes retinal gene therapy platform – Syncona has announced the merger of two of its companies, Gyroscope Therapeutics (Gyroscope), an ophthalmology company developing genetically defined therapies for retinal diseases and Orbit Biomedical (Orbit), a specialist medical device company focused on precision sub-retinal therapeutic delivery. Syncona will own 82% of the enlarged company (a holding value […]

Ground Rents Income moves to Schroders

Ground Rents Income moves to Schroders – Ground Rents Income is moving its management contract from Brooks MacDonald to Schroder Real Estate Investment Management. The management team is going to move across as well. The announcement says that Brooks MacDonald is stepping back to focus on its core business. The board listed several reasons for […]

AEW UK Long Lease REIT considering future

AEW UK Long Lease REIT considering future – The board of AEW UK Long Lease REIT served notice on its manager and announced a strategic review yesterday. “In view of the sub-scale size of the group, its performance since IPO, and the recent news in respect of Meridian Metal Trading Limited, the board is reviewing […]

Baker Steel plans tender offer

Baker Steel plans tender offer – after a year when Baker Steel managed to generate a small NAV increase (0.2%) while the wider EMIX Global Mining Index fell by 5.9%, the trust has now announced it wants to hand back £4m/£5m to shareholders. The money comes from the sale of the Prognoz silver project to […]

Civitas updates on portfolio
Civitas adds another three properties

Civitas updates on portfolio – Civitas Housing Advisors has published an update on the Civitas Social Housing portfolio and some commentary on the social housing sector. This follows the release of a report on the sector from the Regulator. Coincidentally, The Regulator has announced the findings of its review of Encircle Housing. At the end […]

Market responds favourably to EPE Special Opportunities results  
EPE Special Opportunities disposes its investment in Process Components

Market responds favourably to EPE Special Opportunities results   – The private equity trust, EPE Special Opportunities (ESO), which invests in small and medium-sized companies in the UK mainly, has reported total return declines of 12.5% and 7.1% in its NAV and shares over the year to January 31, 2019. Investors have responded favourable to […]

External forces outmuscle fundamentals as Vietnam Enterprise delivers negative return

External forces outmuscle fundamentals as Vietnam Enterprise delivers negative return – Vietnam Enterprise Investments (VEIL) delivered its first negative NAV return since 2011 in the year to December 31, 2018. Total return USD NAV shed 7.1%, which was 2.4% better than the VN Index benchmark. VEIL is managed by Dragon Capital, the largest independent asset […]

UK Mortgages completes £209m fourth securitisation
UK Mortgages UKML

UK Mortgages completes £209m fourth securitisation – UK Mortgages (UKML) has announced the successful public sale of £209.15m senior securitised notes. The securitisation is backed by a pool of owner-occupied mortgages originated by The Mortgage Lender (TML) completed between October 2016 and today. It has been purchased by on a forward flow basis by UK […]

RDI REIT breaches LTV Aviva covenant

RDI REIT breaches LTV Aviva covenant – Following on from a trading update on February 28, 2019, where it was announced that RDI REIT (RDI) had breached a covenant in relation to its debt facility with Aviva (click here to read more on this story, including a QD comment), it has been announced today that […]

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