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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

03 Feb 2023

QD view – and now for something completely different

For me, one of the nice features of the investment companies’ sector is that the closed end structure of the funds contained therein can house some really interesting, and sometimes unique, investment propositions that are otherwise hard for the average investor to get exposure to. I often cite Herald Investment Trust, which is managed by […]

03 Feb 2023

QuotedData’s weekly news show 3th February 2023

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: • Triple Point Social Housing (1:05) • Aquila European Renewables (7:05) Andrew McHattie’s summary on social housing sector (13:49) This week’s interview was with Will […]

03 Feb 2023

Henderson Opportunities – not so HOT last year

Henderson Opportunities Trust (HOT) has published its annual results for the year ended 31 October 2022, which its chairman, Wendy Colquhoun, describes as a very difficult year for absolute and relative performance for HOT’s portfolio. She comments that, during periods of growing investor caution, it is often smaller companies that fall quickest and most steeply […]

03 Feb 2023

Triple Point Social Housing REIT to cap rental uplifts at 7%

Triple Point Social Housing REIT (SOHO) has said that it will implement a 7% cap on rental uplifts this year. The temporary one-year cap (which will end on 31 December 2023) is consistent with both the UK government’s 7% cap on social housing rent increases (Specialised Supported Housing that SOHO and Civitas Social Housing provide […]

03 Feb 2023

Scottish Mortgage launches Invest in Progress podcast

Supplying life-saving medical supplies by robotic flights in Africa was just the start. In this first instalment of the new Invest in Progress podcast, Zipline’s co-founder Keller Rinaudo Cliffton talks to Scottish Mortgage manager Tom Slater about what’s next. Capital at risk. Listen to the podcast previous story | next story

03 Feb 2023

Scottish Mortgage launches Invest in Progress podcast

Supplying life-saving medical supplies by robotic flights in Africa was just the start. In this first instalment of the new Invest in Progress podcast, Zipline’s co-founder Keller Rinaudo Cliffton talks to Scottish Mortgage manager Tom Slater about what’s next. Capital at risk. Listen to the podcast previous story | next story

03 Feb 2023

Aquila European Renewables announces 2023 dividend target and buyback programme

Aquila European Renewables (AERS) has announced dividend guidance for its current financial year ending 31 December 2023. AERS is targeting a dividend of €c5.51 per share, subject to the portfolio performing in line with expectations. The 2023 target dividend represents an increase of 5% versus the prior year and follows a 5% increase in the […]

03 Feb 2023

QuotedData’s morning briefing 3 February 2023

In QuotedData’s morning briefing 3 February 2023: Schroder REIT (SREI) reported a 17.1% fall in NAV to 62.0p for the quarter to 31 December 2022. The impact of higher interest rates on the property sector saw the value of its portfolio drop 11.8% to £470.3m. Dividends paid during the quarter of 0.803p per share was […]

02 Feb 2023

Castlenau publishes prospectus in connection with Dignity bid

On 23 January 2023, the boards of directors of Dignity and Yellow (SPC) Bidco Limited, a newly formed company indirectly owned or controlled by a consortium comprised joint offerors SPWOne V Limited, Castelnau Group Limited and Phoenix Asset Management Partners Limited announced that they had reached agreement on the terms of a recommended cash offer […]

02 Feb 2023

Spectacular year for BlackRock Energy and Resources

For the 12 months ended 30 November 2022, BlackRock Energy and Resources Income reported an NAV return of 44.5% and a return to shareholders of 44.8%. Given the weakness in markets of all kinds last year, this is an impressive result, especially as it now means that the trust has doubled in two years. The […]

02 Feb 2023

Revenue fall eats into BlackRock Income and Growth revenue reserves

BlackRock Income and Growth has published results for the year ended 31 October 2022. The trust managed to just beat its benchmark over the period, returning -2.3% to the All-Share’s -2.8%. However, its discount widened from 6.0% at the start of the financial year to 10.8%, leaving shareholders with a return of -7.0%. The dividend […]

02 Feb 2023

Apax backs Magaya and updates on 2022

Apax Global Alpha made a $90m commitment to Apax Digital Fund II (ADF II) in 2021. Yesterday ADF II announced an investment in Magaya, a leading digital freight software platform that automates critical workflows for international logistics providers (magaya.com). ADF II’s investment forms part of a 50:50 recapitalisation alongside financial sponsor LLR Partners and other […]

02 Feb 2023

QuotedData’s morning briefing 2 February 2023

In QuotedData’s morning briefing 2 February 2023: Ecofin US Renewables’ (RNEW) manager increased its holding in the fund, buying 59,096 shares in the market at an average price of $0.835 in part settlement of its management fee due for the three-month period ended 31 December 2022. It and its associates now hold 346,887 shares. abrdn […]

01 Feb 2023

Chrysalis NAV falls but adviser hopeful for better IPO market

Chrysalis Investments says its 31 December 2022 NAV was 128.26p, down 19.53p or 13.2% since 30 September 2022. Revaluations of four comanies took off 11.4p, foreign exchange movements accounted for a further 3.3p of the fall. There was limited portfolio activity over the quarter (several companies within the portfolio had raised fresh capital over the […]

01 Feb 2023

QuotedData’s morning briefing 1 February 2023

In QuotedData’s morning briefing 1 February 2023: Macau Property Opportunities (MPO) says its board has agreed to roll the terms of the investment management agreement with Sniper Capital, with effect (retrospectively) from 1 January 2023. Accordingly, a management fee of $100,000 per calendar month for the calendar year 2023 will continue to be payable. Realisation […]

31 Jan 2023

Home REIT “under investigation for bribery” according to reports

Home REIT is being investigated for bribery by the National Crime Agency, according to reports. According to the reports in City AM and Investment Week, several documents have been handed over to the NCA, which is considering passing them on to the Financial Conduct Authority and the National Investigation Service (NATIS), which investigates serious organised […]

31 Jan 2023

Chrysalis reports on a tough year

Chrysalis (CHRY) has published its annual results for the year ended 30 September 2022. During the period, CHRY experienced an NAV decline of 104.17p (to 147.79p) which was largely driven by Klarna (57.66p) and the listed portfolio (31.90p) with the remaining assets performing strongly against a challenging backdrop. Key takeaways are as follows: CHRY received […]

31 Jan 2023

Strong NAV growth from abrdn Private Equity Opportunities despite challenging backdrop

Abrdn Private Equity Opportunities (APEO) announced its annual results for the year ended 30 September 2022. Key takeaways are as follows: APEO has shown strong annual Net Asset Value growth in spite of the difficult backdrop in both the global economy and financial markets. Its NAV total return for the year to 30 September 2022 […]

31 Jan 2023

QuotedData’s morning briefing 31 January 2023

In QuotedData’s morning briefing 31 January 2023: Picton Property (PCTN) posted a 12.4% fall in NAV to 102.2p per share for the quarter to 31 December 2022, as property yields moved out in response to higher interest rates. The group’s diversified portfolio fell in value by 9.0% over the quarter to £758.9m (less than the […]

30 Jan 2023

Aberforth Smaller Companies benefited from M&A in 2022

Aberforth Smaller Companies Trust (ASL) has published its annual results for the year to 31 December 2022. During the period, ASL provided an NAV and share price total returns of -10.4% and -7.3% respectively (as the discount narrowed from 12.6% to 9.8% over the course of the year). ASL’s chairman, Richard Davidon, comments that while […]

30 Jan 2023

Aquila Energy Efficiency commitments surpass IPO proceeds

Aquila Energy Efficiency Trust (AEET) has provided an update on its progress in the commitment and deployment of capital since its last trading update, published on 20 December 2022. Investment commitments have increased by £13.4m to £100.7m, which exceeds the £98m net proceeds raised at AEET’s initial public offering (IPO). AEET says that this is […]

30 Jan 2023

QuotedData’s morning briefing 30 January 2023

In QuotedData’s morning briefing 30 January 2023: In its 2021 prospectus, Fair Oaks Income (FAIR) said that, in the event that the realisation shares and 2021 shares trade at discount to any quarter end NAV, calculated on the date that the relevant NAV is published, 25% of that quarter’s investment management fees (in respect of […]

27 Jan 2023

QuotedData’s weekly news show 27th January 2023

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 / HydrogenOne (0:42) • US Solar Fund (9:27) • Henderson Eurotrust (10:33) This week’s interview was with Eileen Fargis from Ecofin US Renewables […]

27 Jan 2023

QD view – In defence of growth

Edinburgh Worldwide recently published its annual results – covering the 12-month period to 31 October 2022 – and the figures are not great. Over the period, the NAV fell by 40.3% and the share price by 46.0%. The fund benchmarks its performance against the S&P Global Small Cap Index and this returned -6.8% over the […]

27 Jan 2023

JPMorgan Emerging Europe, Middle East & Africa Securities reports on car crash year

JPMorgan Emerging Europe, Middle East & Africa Securities (JEMA – formerly JPMorgan Russian Securities) has published its annual results for the year ended 31 October 2022. Although it has broadened its mandate since, JEMA’s investment objective was focused on Russia at the time of that country’s invasion of Ukraine, which occurred during the period under […]

27 Jan 2023

BlackRock Sustainable American Income hit by a combination of headwinds

BlackRock Sustainable American Income (BRSA) has published its annual results for the year ended 31 October 2022. During the period, BRSA provided NAV and share price total returns of 7.4% and 3.6% respectively, thereby underperforming its reference index , the Russell 1000 Value Index, which BRSA says provided a total return of 10.7% over the […]

27 Jan 2023

QuotedData’s morning briefing 27 January 2023

In QuotedData’s morning briefing 27 January 2023: GCP Infrastructure (GCP) has announced a dividend of 1.75p per ordinary share, for the period from 1 October 2022 to 31 December 2022. The dividend will be paid on 14 March 2023 to holders of ordinary shares recorded on the register as at the close of business on […]

26 Jan 2023

Former Henderson EuroTrust analyst charged with insider dealing

The FCA has started criminal proceedings against five individuals for conspiracy to commit insider dealing and money laundering. The FCA alleges that Redinel Korfuzi, Oerta Korfuzi, Iva Spahiu, Rogerio de Aquino and Dema Almeziad conspired to commit offences of insider dealing between 17 December 2019 and 25 March 2021. Specifically, the FCA alleges that Mr […]

26 Jan 2023

JLEN and HydrogenOne investing in green hydrogen

JLEN Environmental Assets and HydrogenOne Capital Growth are making their first investments into the green hydrogen sector. JLEN is buying a 33% equity stake in Foresight Hydrogen Holdco GmbH. Foresight Hydrogen Holdco holds a 75% stake in HH2E Werk Thierbach GmbH, a Special Purpose Vehicle which owns the development rights to the Thierbach green hydrogen […]

26 Jan 2023

QuotedData’s morning briefing 26 January 2023

In QuotedData’s morning briefing 26 January 2023: Literacy Capital (BOOK) has published its quarterly trading and NAV update for the three months ending 31 December 2022. The NAV rose to 420.6p from 384.9p, contributing to a total NAV return of +9.3% in the last three months and +51.7% in the last twelve months. Portfolio companies […]

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