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2018 a year of progress for Empiric Student Property

2018 a year of progress for Empiric Student Property – Empiric Student Property (ESP) has announced full year results to 31 December 31 2018. These re-affirm the fundamentally strong shape UK higher education is in on the demand side. Current occupancy stands at 97%, up 5% from year-end 2017. Key highlights from the fund’s financial […]

GCP Student Living results underline resilience of accomodation market

GCP Student Living results underline resilience of accomodation market – GCP Student Living (DIGS) showcased the resilience of the student accommodation as it reported results for the H1 period to December 31, 2018. The mostly-London focused company filled its 10 ten properties (around 3,600 beds), hitting an occupancy rate of 97% (full occupancy by its […]

Real Estate Investors continues to see HS2 related demand
Real Estate Investors RLE1

Real Estate Investors continues to see HS2 related demand – Real Estate Investors (RLE), which focuses almost exclusively on commercial properties in the Midlands, had a solid year to December 31, 2018, as it continued to see the demand impact from the High Speed 2 rail project-related population migration from London, driving increased value in […]

HgCapital to exit Foundry with strong return
HgCapital Trust exercises option over Allocate Software

HgCapital to exit Foundry with strong return – The private equity firm Hg, manager of the tech-focused HgCapital Trust (HGT) has announced the sale of Foundry to Roper Technologies for £410m. Hg acquired Foundry, a leading global developer of high-end visual effects and 3D design software, in 2015. HGT will receive cash proceeds of £28m from […]

Princess Private Equity direct investments drive NAV growth in 2018
Princess private equity PEY PEYS

Princess Private Equity direct investments drive NAV growth in 2018 – While Princess Private Equity (PEY)’s NAV in the year to December 31, 2018 was up by 6.8% percent on a total return basis, its shares were down 16% following a period of severe volatility in public markets in December, as investors went into risk-off […]

Athelney’s MD calls for board ousting ahead of April AGM
Athelney Trust ATY

Athelney’s MD calls for board ousting ahead of April AGM – towards the end of January, we covered the exciting results of Athelney’s (ATY) EGM (All change please!) and the subsequent resignation of new appointee Paul Coffin, who resigned a few days later, leaving the other new appointee, David Lawman as the sole director of […]

Rouble weakness weighs down Raven Property’s sterling returns
Raven property RAV

Rouble weakness weighs down Raven Property’s sterling returns – Russia-focused Raven Property (RAV) made note of improving fundamentals in its year-end results to December 31, 2018, which saw vacancy rates shift down and rents increase as the wider economy strengthened. However, while the rouble valuation of the investment portfolio was up 8%, it was down […]

European Assets Trust completes redomicile to the UK
European Assets Trust is redomiciling to the UK

European Assets Trust completes redomicile to the UK – European Assets Trust’s (EAT) has completed the move of its legal domicile from the Netherlands to the UK.  There will not be any difference in the investment policy or dividend policy and the investment team will not change. EAT believes there are benefits to migrating to […]

Pyroguard sale boosts Dunedin Enterprise return in 2018
DNE : Dunedin Enterprise sells Pyroguard, plans cash return

Pyroguard sale boosts Dunedin Enterprise return in 2018 – the UK-focused private equity investment trust Dunedin Enterprise (DNE) made an NAV return of 6.4% in the year to 31 December 2018, largely on the back of valuation uplifts and realisations. Shareholders fared better with a total return of 9.4%. This was boosted by a return […]

Primary Health Properties to acquire new Kew medical centre for £4.6mn

Primary Health Properties to acquire new Kew medical centre for £4.6mn – Following its merger with MedicX Fund, Primary Health Properties (PHP) has announced that forward funding is in place for it to acquire a new primary healthcare medical centre in Kew, London. The property is due to be completed in October 2019 and will […]

New shares in Primary Health tradeable following MedicX merger
Primary Health and MedicX to merge

New shares in Primary Health tradeable following MedicX merger – following on from the announcement on 14 March 2019 by MedicX Fund Limited and Primary Health Properties (PHP) that their merger had become unconditional in all respects, PHP announced that dealings in the new shares became effective at 8.00 a.m. today (March 15, 2019). The […]

3i Infrastructure seals Cross London sale and Tampnet buy
3i Infrastructure 3I

3i Infrastructure seals Cross London sale and Tampnet buy – Following on from the completion of the sale of its 33.3% stake in Cross London on March 14, 2019, for £333mn, 3i Infrastructure plc (3I) has today finalised the acquisition of Tampnet for €226 million following the receipt of regulatory approvals in Europe and the USA. […]

Fidelity European Values stock selection stems declines in falling market
Fidelity European Value FEV

Fidelity European Values stock selection stems declines in falling market – Fidelity European Values PLC (FEV) posted an NAV per share total return of -4.8% for the year ended 31 December 2018, while the benchmark index, the World Europe (ex UK) Index, returned -9.5%. The landscape across the second half of 2018 was challenging, as […]

Allianz Technology stock selection delivers benchmark beat
180223-ATT

Allianz Technology stock selection delivers benchmark beat – In the 13 months to 31 December 2018, Allianz Technology Trust’s (ATT) NAV per share increased by 9.0%. The company’s benchmark index, the Dow Jones World Technology Index (sterling adjusted, total return), increased by 0.1% over the same period. More volatility around tech For the technology sector, […]

Baillie Gifford Shin Nippon targets up to 10% in unquoteds
Baillie Gifford Shin Nippon targets up to 10% in unquoteds

Baillie Gifford Shin Nippon targets up to 10% in unquoteds – Baillie Gifford Shin Nippon (BGS) has reported preliminary results for the year to January 19.  The  net asset value per share (after deducting borrowings at book value) fell by 6.1% compared to a 7.8% fall in the comparative index (MSCI Japan Small Cap index). […]

Wellcome Trust charity cuts stake in Syncona
Syncona Sync

Wellcome Trust charity cuts stake in Syncona – Wellcome Trust Limited, a UK biomedical charity, has confirmed that it has sold approximately 57 million ordinary shares in Syncona Limited (SYNC). This represents approximately 8.7% of Syncona’s issued ordinary share capital. The shares were sold at 245p per share, equating to gross proceeds of approximately £141m for […]

HICL Infrastructure Company consortium wins offshore wind bid
HICL Infrastructure

HICL Infrastructure Company (HICL) has announced that Diamond Transmission Partners, a consortium comprising HICL, Diamond Transmission Corporation Limited (a subsidiary of Mitsubishi Corporation) and Chubu Electric Power Co., Inc. has been selected by Ofgem as the preferred bidder to own and operate the Walney Extension Offshore Wind Farm offshore transmission link. The Walney OFTO The […]

Oakley Capital 2018 profits beat wider market on strong exits
Oakley Capital Investments Limited Oakley Capital

Oakley Capital Investments Limited has announced full-year results for the year to December 31, 2018. NAV increased by 16% to £2.81 over the period, which the company largely attributed to several successful exits. The current portfolio of 11 private companies grew average earnings at 39% and realisations returned £115 million, at a combined premium of […]

Capital and Regional profits edge up despite significant headwinds
Capital and Regional CAL Capital & Regional

Capital and Regional has announced its full year results for the year ended 30 December 2018. During the year, the company says that there has been an increase of 4.8 per cent in Adjusted Profit to £30.5 million from £29.1 million. It says that the increase has been achieved despite the headwinds from both structural […]

Sirius Real Estate acquires Bochum Business Park, Germany
Sirius Real Estate SRE

Sirius Real Estate has announced that it has completed the acquisition of a business park in Bochum in the Ruhr region of Germany, for a total consideration of €25.7 million, which equates to an EPRA net initial yield of 8.9%. The seller is a fund managed by DOBA-Grund Beteiligungs, Munich, which is part of the […]

EP Global held back by US and banks exposure

EP Global held back by US and banks exposure – EP Global reports that, for the year ended 31 December 2018, its NAV fell by 8.6%, adjusting that return for the 6.5p dividend declared for the year (a 5.5p normal dividend and a 1p special dividend) gives a total return on NAV of -7.1%. The discount […]

3i Infrastructure buys Joulz Diensten

3i Infrastructure buys Joulz Diensten – 3i Infrastructure has agreed to invest about EUR220m to acquire 100% of Joulz Diensten B.V.,  a leading owner and provider of essential energy infrastructure equipment and services in the Netherlands. Joulz is being acquired from Stedin Holding NV, a Dutch distribution grid operator. Joulz leases essential energy infrastructure equipment and […]

PRS REIT cuts long-term dividend forecast

PRS REIT cuts long-term dividend forecast Steve Smith, chairman of the PRS REIT, said: “The PRS REIT made pleasing progress in the first half, and the growth in the number of completed rental homes is showing through in these financial results. We closed the half year with about 3,575 homes either built or under construction, […]

Syncona shifting funds into cash
Syncona Sync

Syncona shifting funds into cash –  Syncona is changing the way it invests the portion of its portfolio that is not committed to biotech investments. It says: “Over the last two years, Syncona has evolved the investment parameters of its strategic capital pool to focus on liquidity and capital preservation in order to support Syncona’s […]

Contrasting fortunes of F&C and Witan in 2018

F&C Investment Trust has reported an NAV total return of -3.3% for 2018, marginally better than its benchmark’s -3.4% return (it uses the All-World Index). Shareholders benefited from a narrowing discount, however and the trust delivered a share price total return of -0.6%. The annual dividend per share was up 5.8% to 11.0p, well above the 2.1% […]

Primary Health Properties to acquire The Meath Primary Healthcare Centre in Dublin 8
Primary Health Properties PHP The Meath Primary Care Centre

Primary Health Properties (PHP) has announced that it has contracted to acquire a The Meath Primary Healthcare Centre, in Dublin 8, for a total cost of €10.9 million. The transaction is being conducted through Primary Health Properties ICAV, an Irish investment vehicle that is wholly owned by PHP. This acquisition, which has a completion date […]

Premier Global Infrastructure suffers tough 2018; struggles against benchmark
Premier Global Infrastructure suffers tough 2018; struggles against benchmark

Premier Global Infrastructure suffers tough 2018; struggles against benchmark – In the year ended 31 December 2018, Premier Global Infrastructure reported a negative total return on assets of 11%. This was a stark underperformance compared to the FTSE global core infrastructure index, which returned a positive 2.7%. NAV per share dropped to 112.55p from 165.07 […]

Globalworth Real Estate sees strong growth
Globalworth Real Estate sees strong growth in preliminary results

Globalworth Real Estate sees strong growth in portfolio – Globalworth has released its preliminary results for the year ended 31 December 2018. Things are looking good here – last year Globalworth made €538.3m of acquisitions in Poland and Romania, totalling eight new investments. The combined portfolio rose by 35.6% to €2.5bn, split 51% in Romania, […]

Schroder Real Estate sells Victory House in Brighton

Schroder Real Estate sells Victory House in Brighton – Schroder Real Estate Investment Trust has exchanged unconditional contracts to sell Victory House in Brighton to an institutional purchaser for GBP36.1 million. The disposal is scheduled to complete on 30 April 2019. Victory House is an 84,988 sq ft office building in Brighton city centre, let to BUPA […]

Hg Capital mulls fundraise and share split
HgCapital Trust exercises option over Allocate Software

Hg Capital mulls fundraise and share split – HgCapital Trust has published results for 2018. Highlights are: NAV per share of GBP21.57, a total return of 14.3%. Share price total return of 3.5% to 31 December 2018. Proposed final dividend of 30 pence per share (full year dividend of 46 pence per share). Strong revenue and […]

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