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Double whammy Artemis Alpha held back by quoted and unquoted investments

Artemis Alpha has suffered a double whammy. It has announced its annual results for the year ended 30 April 2019 and it says that, over the year, its net asset value and share price declined by 8.6% and 8.9% respectively on a total return basis, while its All-Share Index benchmark increased by 2.6% over the […]

QuotedData’s other news 19 July 2019

In QuotedData’s other news 19 July 2019: Adamas Finance Asia has announced that it has rescheduled its AGM. This was previously to take place on 17 August 2019, but has been pushed back to 15 November 2019. No explanation has been offered. The rescheduled AGM will be held at 19/F CMA Building, 64 Connaught Road, […]

John Laing Environmental Assets Group adds low head hydro and battery storage

John Laing Environmental Assets Group (JLEN) has announced that it has acquired Yorkshire Hydropower Holdings Limited (YHH”) for a total consideration, including working capital, of £4.3 million. YHHL is an entity that owns 100% of the equity in Yorkshire Hydropower Limited (YHL), which in turn holds the rights to two operational hydro projects and an […]

LXi REIT completes six acquisitions and fully deploys proceeds from £200m capital raise

LXi REIT (LXI) has announced that it has completed six, long-let, index-linked acquisitions from separate developers and vendors. The combined total investment of approximately £55m reflects a weighted average net initial acquisition yield of 5.83% (net of acquisition costs). Following these purchases (and those it previously announced on 25 June 2019), the company says that […]

Genmab raises $505m in Europe’s largest ever Nasdaq IPO 

Genmab raises $505m in Europe’s largest ever Nasdaq IPO  – Denmark’s Genmab has raised $506m from its US IPO, the largest sum ever by a European biotech. Genmab, which is already listed on Nasdaq Copenhagen, sold 28.5m ADSs – each of which represents one-tenth of a share – at $17.75/ADS, only a 3% discount on the prior […]

Silence stock jumps on Mallinckrodt deal

Silence stock jumps on Mallinckrodt deal – UK biotech Silence Therapeutics saw its stock jump by 60% this morning on the back of a licensing deal, R&D collaboration and equity investment from the Irish-domiciled, US-based speciality pharmaceutical group Mallinckrodt. The overall deal has a “biodollar” or headline value exceeding $2.1bn, although initially it provides an upfront […]

QuotedData’s other news 18 July 2019

In QuotedData’s other news 18 July 2019: The global growth fund, Brunner Investment Trust (BUT), reported half-year results to 31 May 2019 with NAV (with debt at fair value) up 2.9% on a total return basis. The company’s portfolio delivered a return of 4.1% between December 2018 and May 2019 – the main driver of performance […]

Amedeo Air Four Plus on the A380
No dramas for aircraft leasing funds

Amedeo Air Four Plus on the A380 – The wide-body (twin-aisle) aircraft leasing specialist sector fund, Amedeo Air Four Plus (AA4), has this morning published its annual report, covering the period to 31 May 2019. AA4 owns predominantly Airbus aircraft, including six A380-800 series planes, which are all leased to Emirates. It also has two […]

Oakley Capital to apply for premium LSE listing

Oakley Capital to apply for premium LSE listing – The UK-focused private equity investment company, Oakley Capital (OCI), has announced its intention to apply for admission of its ordinary shares to the specialist fund segment (SFS) of the London stock exchange’s (LSE) main market; OCI has given notice of the intended cancellation of trading of […]

Triple Point Social Housing announces £7.7m portfolio expansion
Triple Point Social Housing fully invested and ready to expand again

Triple Point Social Housing announces £7.7m portfolio expansion – Triple Point Social Housing (SOHO) has announced that it has completed the acquisition of four supported housing properties and also acquired the land and entered into a forward funding arrangement to develop another supported housing project, comprising 46 units in total, for an aggregate commitment of approximately […]

Boussard & Gavaudan proposals unfriendly to smaller retail investors

Boussard & Gavaudan proposals unfriendly to smaller retail investors – The Europe-focused hedge fund company, Boussard & Gavaudan Holding (B&G), has struggled to arrest a long-standing discount and lack of liquidity in its sterling (BGHS) and euro (BGHL) shares – they both trade at discounts of more than 25 percent. Still, the detail behind the […]

BB Healthcare announces first half results and new chairman

BB Healthcare announces first half results and new chairman – BB Healthcare (BBH)’s chairman, professor Justin Stebbing, has stepped down from his role due to his other commitments, it has been announced. He will remain at the company in the capacity of non-executive director and will be succeeded as chairman by Randeep Grewal (currently a […]

Warehouse REIT growing its portfolio
Schroder European SERE

Warehouse REIT growing its portfolio – Warehouse REIT (WHR) is busy expanding its portfolio; after raising £120m in April, the company has deployed a small chunk of the proceeds to acquire a warehouse property in Chorley, Lancashire for £3.60m and an industrial warehouse premises in Doncaster, South Yorkshire for £1.68m (extending its current holding at […]

Scottish Mortgage leads $121m round in AI-based biotech Recursion

Scottish Mortgage leads $121m round in AI-based biotech Recursion – Baillie Gifford-managed Scottish Mortgage lnvestment Trust (SMT) has led a $121m Series C private financing in Recursion Pharmaceuticals, a US-based company that combines automated experimental biology with artificial intelligence tools. The financing brought in three new institutional investors – Intermountain Ventures, University of Minnesota, Texas […]

Trust favourite Gilead expands R&D deal with Galapagos
Trust favourite Gilead gears up for filgotinib RA Phase III data 1

Trust favourite Gilead expands R&D deal with Galapagos – US biotech giant Gilead Sciences (NASDAQ: GILD) has entered into a ten-year R&D collaboration with  Galapagos (Euronext/NASDAQ: GLPG) covering rights to the Belgium group’s entire development portfolio. The transformative deal includes a $3.95bn upfront payment – a new record in the industry – as well as $1.1bn in […]

QuotedData’s other news 15 July 2019

In QuotedData’s other news 15 July 2019: The multi-strategy absolute return fund, Independent Investment Trust (IIT), reported half-year results to 31 May 2019 this morning; the NAV and shares were up by 6.5% and 4.7% respectively. Previously classified as a global fund, IIT is now falls under UK, following the Association of Investment Companies (AICs) recent […]

Polar Capital Technology delivers benchmark beating annuals

Polar Capital Technology delivers benchmark beating annuals  – Polar Capital Technology (PCT) has this morning announced full-year results to 30 April 2019 with NAV up by 24.7% year-on-year while the shares rose by 17.9%. PCT’s benchmark is the dow jones world technology index; PCT outperformed the benchmark, both last year by 5.6% and this year […]

Adamas Finance signs up partner for Japan ski investment

Adamas Finance signs up partner for Japan ski investment – Adamas Finance Asia (ADAM) has this morning announced that further to the announcement made on 6 December 2018, a family office based in Hong Kong has agreed to participate alongside ADAM in its senior secured loan note facility provided to Infinity Capital Group (ICG). ICG […]

Symphony International adds to India exposure

Symphony International adds to India exposure – Asia-focused Symphony International (SIHL) has invested in a minority stake in Good Capital Partners (GCP), the general partner of Good Capital Fund I as well as the owner of investment manager, Good Capital Management. GCP is owned by Rohan Malhotra and Arjun, who founded Investopad in 2014, laying […]

Aquila buys Norwegian wind farm

Aquila buys Norwegian wind farm – Aquila European Renewables Income Fund has announced the acquisition of its third investment, a 25.9% stake in Midfjellet Vindkraft AS, one of Norway’s largest operating wind farms. The Midtfjellet wind farm was built in three phases. Phases I and II comprise 44 N100 and N90 wind turbines (2.5 MW each) […]

JPMorgan Global Convertible gives up

JPMorgan Global Convertible gives up – At the AGM to be convened in November the board of JPMorgan Global Convertibles Income Fund was due to ask shareholders to approve a resolution to approve the continuation of the company. The board says it has been pleased with the company’s performance since the appointment of Hart Woodson as […]

TwentyFour Income Fund investors shrug off lacklustre returns

TwentyFour Income Fund investors shrug off lacklustre returns – TwentyFour Income Fund has published results for the year ended 31 March 2019. Over the year, the NAV fell from 118.75p to 113.28p and the share price fell from 119.5p to 115.28p. The dividend was cut from 7.23p to 6.45p (the company was targeting dividends of at […]

QuotedData’s other news 12 July 2019

In QuotedData’s other news 12 July 2019 FastForward Innovations has swapped its stake in Intensity Therapeutics for shares in Portage Biotech, a Canadian listed company part-owned by Jim Mellon (a director of FastForward). Portage has no revenue but the value of the Portage shares FastForward is getting implies a small uplift in FastForward’s NAV. Aberdeen Standard […]

Woodford watch – Proton again

Woodford watch – Proton again – Last Friday we wrote a short piece on Woodford Patient Capital’s largest investment, Proton Partners International. When we were researching this, one thing popped up that looked odd to us. Proton’s admission document said that Woodford got a £1m commission for entering into the commitment (in the form of […]

Chelverton UK Dividend shares dropped 31%

Chelverton UK Dividend shares dropped 31% – Over the year to the end of April 2019, Chelverton UK Dividend returned -9.9% in NAV terms as the company’s split capital structure magnified a -3.5% return on the portfolio. The share price divided from 251p to 173.5p – moving from a 0.6% premium to a 19% discount. […]

Invesco Asia buybacks narrow discount

Invesco Asia buybacks narrow discount – A narrowing of Invesco Asia’s discount made up for underperformance in NAV terms over the year ended 30 April 2019.  The NAV total return for the period was 0.8% against 1.6% for the benchmark (MSCI AC Asia ex Japan Index) but, as the discount moved from 13.0% to 8.9%, […]

QuotedData’s other news 11 July 2019

In QuotedData’s other news 11 July 2019 Gresham House Energy Storage is placing more shares today at 105p (a discount from the share price of 109.5p but at a premium to NAV. The placing is only open to institutional investors. We also have results from Invesco Asia and the sharp drop in Chelverton UK Dividend’s share […]

Caledonia completes Stonehage Fleming deal
Caledonia buys Stonehage Fleming stake

Caledonia completes Stonehage Fleming deal – Caledonia Investments announced in December 2018 that it had agreed to acquire a minority stake in Stonehage Fleming & Family Partners Limited. Stonehage Fleming is a leading independently owned family office. The deal was structured as part of a tender offer and share buy-back offer made to Stonehage Fleming’s existing […]

Woodford Watch – Benevolent AI

Woodford Watch – Benevolent AI Over the last couple of days, following an article in the Sunday Times (behind a paywall so we haven’t linked to it), the talk has been of a fundraise for Benevolent AI at a substantial discount to the valuation that Woodford Patient Capital (WPCT) is holding it in its NAV. […]

QuotedData’s other news 10 July 2019

In QuotedData’s other news 10 July 2019 One of the smallest listed investment companies, SVM UK Emerging, published results for the year ended 31 March 2019. It underperformed its benchmark, returning -1.8% in NAV terms and -6.7% in share price terms against a 2.8% return for the IA UK All Companies sector average [no we don’t […]

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