In this video, Edward Marten CEO of QuotedData and James Carthew head of investment companies talk about the search for income, and where to find attractive opportunities in the current market. Their presentation (at Master Investor, the UK’s largest private investor show, on the QuotedData stage) explains why it’s worth taking a fresh look at […]
HydrogenOne Capital Growth has published results for the year ended 31 December 2023. We’ll be publishing a note on these shortly, so here is a quick summary: The NAV increased by 5.8% from £125.4m at 31 December 2022 to £132.7m at 31 December 2023 due to valuation uplifts in multiple portfolio companies. The NAV per […]
HydrogenOne Capital Growth has announced a change to the corporate structure of its invetsment in HH2E (the German developer of hydrogen production plants). HH2E is backed by HydrogenOne and Foresight Group (including JLEN Environmental Assets). They have investments in HH2E itself, and separately into project-specific special purpose vehicles (SPVs) managed by HH2E. HydrogenOne has invested […]
JZ Capital Partners wants to invest up to about US$20.5m into the Secondary Fund managed by an affiliate of JZCP’s manager. The money would be used to help the Secondary Fund make an investment into a newly incorporated company – Follow-on Flex Pack – that will be a related company of, and incorporated in a […]
Alliance Trust says that Willis Tower Watson has appointed a new stock picker for its multi-manager global equity portfolio. ARGA Investment Management replaces Jupiter Asset Management, following Ben Whitmore’s decision to leave Jupiter later this year and set up his own business. Craig Baker, WTW’s chief investment officer and chair of the investment committee, said: […]
The boards of Conchord Chorus Limited (an entity controlled by Alchemy Copyrights) and Hipgnosis have reached agreement on the terms of a recommended cash offer for Hipgnosis at US$1.16 in cash for each Hipgnosis share. In addition, if the current investment adviser agrees to terminate the Investment Advisory Agreement with effect from the date that […]
In QuotedData’s morning briefing 18 April 2024: Apax Global Alpha (through its interest in Apax XI) is investing about €36m in Zellis Group. Zellis is leading provider of payroll and HR software solutions to customers in the UK and Ireland and an emerging leader in the global benefits administration software market, serving approximately one third […]
Urban Logistics REIT reported an average rental uplift of 23% on leases signed in the first quarter of this year as occupational activity returns. The company completed three new lettings (including one at a vacant asset) and three rent reviews in the period, covering 374,000 sq ft of space. This totalled £1.3m in new annualised […]
NB Global Monthly Income Fund (NBMI) has announced its annual report for the year ended 31 December 2023. For the year, the NAV total return on ordinary shares was 5.86%, during the same period the total share price return was 7.14%. The company has been in managed wind down since January 2023. Over this period, […]
In QuotedData’s morning briefing 17 April 2024: VietNam Holding (VNH) announced a monthly update highlighting that the company’s NAV rose +4.4% for March due to the outperformance of holdings in retail, telecoms, and construction. The manager noted that Vietnam’s economy continued its exports-led growth story in March, posting a relatively impressive GDP rise of 5.7% […]
In QuotedData’s morning briefing 16 April 2024: NextEnergy Solar Fund (NESF) announced it has refinanced its existing £135m short-term Revolving Credit Facility with AIB Group and NatWest which is due to expire in June 2024. The new facility is available until June 2026 and provides two additional 12-month extension options at NESF’s sole discretion to […]
The board of Balanced Commercial Property Trust (BCPT) has launched a strategic review into the future of the company, with all options – including a sale, merger, or continuing as is – on the table. The move comes as the company approaches a continuation vote later this year. The board pointed out that the company […]
Marble Point Loan Financing (MPLF) has released its annual results for the 12 months ending 31 December 2023. Over the 12 month period MPLF’s ordinary share class returned a NAV total return of 17.5%, while its liquidating share class returned 18.3%. MPLF’s portfolio value fell from $145.5m to 118.4m, however this was due to dividend […]
In QuotedData’s morning briefing 15 April 2024: Hg Capital Trust (HGT) has announced a £21.3m investment into Focus Group, alongside other clients of Hg. Focus Group is one of the UK’s leading providers of essential business technology to small and medium enterprises (SMEs). Hg believes that the long-term trends in small business technology adoption mean […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Third Point Investors (0:30) • Literacy Capital (5:37) • Batteries – Gore Street Energy Capital (8:02) This week’s interview was with Phil Waller from JPMorgan Global […]
On the economic front, this week’s big news was US inflation figures coming in ahead of expectations. This knocked both equity and bond markets, and cast doubts on the prospect of any interest rate cut in June, as had been expected beforehand. Sticky inflation One reason why US inflation seems to be stickier than the […]
Gulf Investment Fund (GIF) has announced the results of its tender offer, which closed on 11 April 2024. 1,157,160 shares were tendered, equal to 2.89% of its issued share capital meaning that, post the tender, GIF’s share capital will be 38,946,044 shares, which is above the minimum size condition of 38,000,000 shares set by its […]
Mercantile (MRC) has published its annual results for the year ended 31 January 2024, during which it provided NAV and share price total returns of 5.4% and 6.1% respectively, outperforming its benchmark, which returned 1.8%. Its chairman, Angus Gordon Lennox, says that existing portfolio holdings have been performing well, despite the challenging conditions of the […]
Impax Environmental Markets (IEM) says its NAV total return for 2023 was 4.5% and, as its discount widened, the return to shareholders was -3.7%. [There is no good benchmark for the portfolio, but we would use the MSCI All Countries World Index, which returned 15.3% in a year where the market’s focus was on very […]
Downing Renewables and Infrastructure generated a positive NAV total return of 3.5% over 2023, the flatter figure for 2023 reflecting more normal power prices. In common with other renewables companies, the discount widened over the year; the share price fell to 90p from 113.5p and now stands at 75.2p, a 36.1% discount to the end […]
In QuotedData’s morning briefing 11 April 2024: Onward Opportunities (ONWD) says its NAV total return from IPO on 30 March 2023 to end December 2023 was 11.3%. This compares to a 3.7% fall in the value of the UK AIM All Share index. The company trades at a premium and raised more money last month, […]
The Global Opportunities Trust (GOT) has announced its annual results for the year ending 31 December 2023. The company’s NAV total return was 1.7% while shares fell 3.6% with the discount widening to 18.6% at the end of the year . In comparison, the global market benchmark All-World Total Return Index rose by 15.7%, following […]
In QuotedData’s morning briefing 10 February 2024: Following the previously confirmed wind-down, abrdn Diversified Income and Growth (ADIG) announced that the company has redeemed and cancelled the remaining £16,096,000 principal amount of its 6.25% bonds due 2031. As announced on 8 March 2024, the redemption price was 114.983%. The redemption price having been calculated in […]
Third Point Investors (TPOU) has announced further details of its previously announced redemption offer, which was triggered because the average discount over the six months ended 31 March 2024 was over 10%. The 2024 offer is for up to 25% of the company’s issued share capital. The redemption price is the NAV on or around […]
The Gulf Investment Fund (GIF) announced a quarterly update for the period ending 31 March 2023. NAV growth for the period was 4.4%, ahead of the benchmark index return of 2.3%. Positive performance came from Saudi Ground Services (up 43.3 per cent), Arabian Centres Limited (up 19.8 per cent) and Arab National Bank (up 15.4 […]
EPE Special Opportunities (ESO) announced its annual report for the 12 months to 31 January 2024. NAV total return was down 28% while shares fell 45%. The discount has widened 53% at the time of publishing. The company noted challenging operating conditions during the period, with pressure on demand from decreasing consumer confidence and profitability impacted […]
In QuotedData’s morning briefing 9 April 2024: Scottish Oriental Smaller Companies Trust (SST) announced its results for the six months to 29 February 2024. NAV total return was 8.3%, while the MSCI AC Asia ex Japan Small Cap Index increased by 6.8% on the same basis. The company’s share price increased by 3.8 per cent […]
Literacy Capital (BOOK) has announced, alongside its notice of its forthcoming AGM on 15 May, that it intends to propose a mechanism to return capital to shareholders through the issue and immediate redemption of bonus shares, known typically as B shares. This comes alongside a proposal to amend the AIFM Agreement, designed to ensure that […]
In QuotedData’s morning briefing 8 April 2024: Caledonia Investments (CLDN) has provided a quarterly NAV and portfolio update, for the period ending 31 March 2024, ahead of its full year results to be released in May. CLDN has a NAV of £3.0bn, equal to £53.69 per share, which represents a 12 month total return of […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • JPMorgan American (0:48) • Downing Strategic Micro Cap (6:55) • Fidelity Emerging (11:18) Andrew highlighted the opportunity in commodity trusts and in renewables (14:03) This week’s […]
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