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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).

Today
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QuotedData’s morning briefing 5 July 2024 – USF, CGI

In QuotedData’s morning briefing 5 July 2024: US Solar Fund (USF) provided an update for the first quarter ended 31 March 2024. The company saw a NAV total return of 0.9%. Portfolio performance was also down due to lower than expected solar irradiance. Overall generation was 130.6GWh, 11.6% below forecast. Canadian General Investments (CGI) provided […]

04 Jul 2024
an oryx

Widening discount wipes out gains for Oryx shareholders

Oryx International Growth’s results for the 12 months ended 31 March 2024 show the trust generating an NAV uplift of 12.2%. However, the share price fell by 1.8% as the discount widened from 19.0% to 29.1%. There is no dividend. The manager notes that performance was driven by takeovers or offers for significant parts of […]

04 Jul 2024
polling station sign attached to some railings

QuotedData’s morning briefing 4 July 2024 – PCFT, ADIG, GRID

In QuotedData’s morning briefing 4 July 2024: Polar Capital Global Financials (PCFT) has published six-month numbers covering the period ended 31 May 2024. The trust beat its benchmark, returning 18.2% in NAV terms and 23.3% in share price terms versus 15.9% for the MSCI All Countries World Financials Index. [We covered many of the reasons […]

Companies
03 Jul 2024
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 3 July 2024 – DORE, SYNC, HOME, BBOX

in QuotedData’s morning briefing 3 July 2024: Downing Renewables & Infrastructure (DORE) announced that Downing Hydro has pre-qualified its first hydropower plant site for participation in the Frequency Containment Reserve markets (FCR) in Sweden. The FCR markets serve to stabilise the Swedish grid. The initial site pre-qualified is the Gottne hydropower plant. The site is […]

Sectors
Companies
02 Jul 2024

Merck Mercuriadis to leave Hipgnosis Song Management after Blackstone deal

Merck Mercuriadis, chairman and founder of Hipgnosis Song Management (HSM), the manager of Hipgnosis Songs Fund (SONG) has given notice of his intention to step away as chairman of HSM, effective upon closing of the proposed acquisition of SONG by Blackstone, which is expected to become effective on 29 July 2024 (click here to see […]

Sectors
02 Jul 2024
Space

Seraphim Space Investment Trust maintains momentum as portfolio continues to develop

Seraphim Space Investment Trust (SSIT) has provided an update including several announcements regarding its portfolio companies including: Voyager Space’s Starlab announces strategic partnership with Palantir Starlab Space, the US-led global joint venture from portfolio company Voyager Space, Airbus, Mitsubishi Corporation and MDA Space, announced Palantir Technologies as a strategic partner. Palantir will become the exclusive […]

Sectors
02 Jul 2024

Optimism growing as Monks delivers strong gains

Monks Investment Trust (MNKS) announced its annual results for the year end 30 April 2024. The company delivered a NAV total return of 17.6%. The share price total return was +19.1%, inline with the benchmark return of +19.1%. The manager noted that the second half of the year provided much stronger returns than the first […]

02 Jul 2024
Artemis Alpha outperforms in year of transition

Second half rally drives strong year for Artemis Alpha Trust

Artemis Alpha Trust (ATS) announced its annual report for the year ended 30 April 2024. The company delivered a NAV total return of 15.1%, well ahead of the benchmark index return of 7.5%. Shares rose 12.3%. The discount was 11.7% at the time of publishing. The company noted that during the second half of the […]

02 Jul 2024

AEW UK REIT makes solid progress on dividend cover

AEW UK REIT has reported a NAV total return of 5.0% for the year to the end of March 2024. NAV fell 2.6% to 102.73p per share due to the impact of higher interest rates on the value of its portfolio. However, dividends of 8p per share over the year brought its total return into […]

Sectors
02 Jul 2024
two hands cradle a coffee cup with a feathered patter on top, both rest on a newspaper, a pen and a pair of glasses are also on the paper

QuotedData’s morning briefing 2 July 2024 – JGGI, RTW, IHR

In QuotedData’s morning briefing 2 July 2024: JPMorgan Global Growth & Income (JGGI) announced that it intends to pay dividends totalling 22.80 pence per share (5.70 pence per share per quarter) in relation to its financial year commencing 1st July 2024. This is in line with its policy of paying out 4.0% of the company’s […]

Companies
01 Jul 2024
230818 EBOX Mango, Barcelona

More suitors in for Tritax EuroBox

Tritax EuroBox has announced that it has received more expressions of interest in buying the company, as the deadline for private equity giant Brookfield is extended. The company revealed that following the announcement of Brookfield’s possible cash offer for the company on 3 June, it was now in discussions with a “number of parties” that […]

Sectors
01 Jul 2024
wefox and chrysalis logos

Chrysalis warns on wefox valuation but ‘likely disposal’ still on track

Chrysalis Investments published its interim results for the six months ended 31 March 2024 on Friday. The NAV rose from 134.65p to 147.46p over the period, an increase of 9.5%, and the share price was up by 33.4%, as the discount narrowed to 43.7%. However, the discount has widened again since as more bad news […]

Sectors
01 Jul 2024
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QuotedData’s morning briefing 1 July 2024 – HGT, CORD, BPCR, PINT, APAX, MHN

In QuotedData’s morning briefing 1 July 2024: HG Capital Trust (HGT) has agreed to the sale of F24, a leading European software-as-a-service provider for Business Resilience solutions. The terms of the transaction have not been disclosed and completion is subject to closing conditions. However the transaction will value HGT’s investment in F24 at c.£18.4m. This would […]

Companies
28 Jun 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 28th June 2024

Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: Alliance Trust/Witan (0:00) Bankers (9:08) JPMorgan Global Core Real Assets (11:10) Home REIT (13:09) This week’s interview was with Nick Train from Finsbury Growth & Income Trust– watch it again here.

Sectors
Companies
28 Jun 2024
230124 morning

QuotedData’s morning briefing 28 June 2024 – PEY, OCI, HOME

In QuotedData’s morning briefing 28 June 2024: Partners Group Private Equity (PEY) released its NAV update for 31 May 2024. Its NAV decreased by 0.7% to EUR 14.19 per share, with total net assets at €981.43m. This fall was largely the result of negative currency movements, which detracted 0.7%. This was slightly offset by value […]

Companies
27 Jun 2024
Target Healthcare REIT posts 2.5% NAV total return for quarter

Target Healthcare REIT sells four care home at book value

Target Healthcare REIT has completed the disposal of four UK care homes for £44.5m at a modest premium to the book value at 31 March 2024. The sales price reflects a net initial yield of 5.64%. Proceeds from the disposal, which represented 326 beds and 4.6% of the group’s overall portfolio value, will enable a […]

Sectors
27 Jun 2024

Regional REIT in last chance saloon with proposed equity raise

Regional REIT has announced a capital raising of £110.5m through a fully underwritten placing. The company has also announced a 1 for 10 share consolidation. The capital raising, which is being underwritten by Bridgemere Investments, will enable the company to fully repay a £50m retail bond that is due to mature in August. The remainder […]

Sectors
27 Jun 2024

SDCL Energy Efficiency Income NAV impacted by higher discount rate

SDCL Energy Efficiency Income Trust (SEIT) has published its annual results for the year ended 31 March 2024, during which its NAV has fallen to 90.5p per share as at 31 March 2024 from 101.5p a year prior. This includes a reduction of 11p from a 90bps increase in weighted average unlevered discount rate during […]

Sectors
27 Jun 2024
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 27 June 2024 – HEIT, SBO, SCP, ADIG

In QuotedData’s morning briefing 27 June 2024: Harmony Energy Income (HEIT) announced its interim results for the six-month period ended 30 April 2024. The NAV total return over the period was 14.89%, while shares fell 57%. Schroder British Opportunities (SBO) announced the appointment of Justin Ward and Jemma Bruton as independent non-executive directors of the […]

26 Jun 2024

Alliance and Witan to combine

Alliance Trust (ATST) and Witan Investment Trust (WTAN) have announced that the two companies will combine to form Alliance Witan. Under the new deal, Witan’s assets will be rolled into Alliance Trust in exchange for the issue of new ordinary shares in the newly-named Alliance Witan. Specifics of the deal include: Alliance Trust’s investment strategy, […]

26 Jun 2024

The Global Smaller Companies Trust sees solid return, although still lags benchmark

The Global Smaller Companies Trust (GSCT) announced its annual results for the year ended 30 April 2024. The company delivered a NAV total return of 9.0% (2023: -2.9%) versus 11.3% for the benchmark (2023: -2.1%). The share price total return was 12.7% (2023: -6.2%). The company also announced a 22.2% increase in its dividend, the […]

Sectors
26 Jun 2024

Solid returns for Sequoia Economic Infrastructure despite macro challenges

Sequoia Economic Infrastructure (SEQI) has announced its annual results for the year ended 31 March 2024. The company delivered a NAV total return of 8.1% for the year, in excess of target return of 7-8%. Total dividends were 6.875p per ordinary share, in line with the target of a 10% increase. The share price total […]

Sectors
26 Jun 2024

Bankers slimming down portfolio to focus on best ideas

Bankers (BNKR) has announced its interim results for the half year ended 30 April 2024. The trust delivered a strong NAV total return over the six months of 17.5% (2023: 8.1%) and a share price total return of 21.5% (2023: 5.4%), both returns outperforming the benchmark index return of 16.6% (2023: 3.5%). The company’s Japanese […]

Sectors
26 Jun 2024
two hands cradle a coffee cup with a feathered patter on top, both rest on a newspaper, a pen and a pair of glasses are also on the paper

QuotedData’s morning briefing 26 June 2024 – APAX, BNKR

In QuotedData’s morning briefing 26 June 2024: Apax Global Alpha (APAX) announced several updates including the retirement of Tim Breedon from the board and the commencement of a previously announced buyback programme which allows the company repurchase to up to 14.99% of its issued share capital. We also have: Interim results from Bankers including moves […]

25 Jun 2024

Real estate exposure weighs down JPMorgan Global Core Real Assets

JPMorgan Global Core Real Assets (JARA) announced its annual results for the year ended 29th February 2024. The company saw a NAV total return of -4.4%, whilst shareholder total return was -20.9% due to a widening of the share price discount to NAV. Underlying asset performance in local currency was +0.3%. Real Estate was the main […]

Sectors
25 Jun 2024

Positive return for Augmentum Fintech despite macro challenges

Augmentum Fintech (AUGM) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of 5.4% which was driven by net investment return for the year and impact of share buybacks. The share price total return was up 3.6%.  The company noted that several of its portfolio companies […]

Sectors
25 Jun 2024
a newspaper poking through a letterbox 230731 morning

QuotedData’s morning briefing 25 June 2024 – FSF, LAND, HEFT, SONG

In QuotedData’s morning briefing 25 June 2024: Foresight Sustainable Forestry (FSF) announced its interim results for the six months to 31 March 2024. The company recorded a profit for the period of £6.6m, while delivering a NAV per share return of 3.9% since 30 September 2023. The key drivers of the uplift were the upwards […]

Sectors
Companies
25 Jun 2024

Warehouse REIT buys retail park and reports resilient results

Warehouse REIT has announced the acquisition of a retail park for £38.6m, and also reported an uplift in NAV in annual results. The company, which specialises in multi-let warehousing, has ventured away from its core investment strategy with the purchase of phase 2 of Ventura Retail Park, a 13-unit scheme in Tamworth, close to Birmingham. […]

Sectors
24 Jun 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 21st June 2024

Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. On Friday’s weekly show, James Carthew covered last week’s top stories: • Home REIT • NextEnergy Solar Fund We hosted a panel discussion between Nick Greenwood from MIGO Opportunities, Peter Hewitt from Columbia Threadneedle & Ben Ritchie from […]

Sectors
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