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QuotedData’s weekly news show 27th May 2022

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: • Windfall taxes: Energy Profits Levy, Greencoat UK Wind, Bluefield Solar • Fundraising: Gresham House Energy Storage, Home REIT This week’s interview was with Paul […]

QD view – Unloved quality

At a time when high inflation and rising interest rates are unnerving global stock markets, it would seem like a moment for quality companies to come to the fore. These businesses should have impeccable credentials for an uncertain world – sound business models, strong management teams, expanding market share – providing stability at a time […]

Major underperformance for Worldwide Healthcare

Following the announcement earlier today that it has terminated its placing programme (click here to read more), Worldwide Healthcare (WWH) has now announced its annual results for the year ended 31 March 2022. These show that, following the previous year’s strong returns, both on an absolute and on a relative basis, the year under review […]

Home REIT raises £263m to tackle homeless crisis

Home REIT, which funds the acquisition and creation of homeless accommodation across the UK, has raised gross proceeds of £263m in a significantly oversubscribed placing. It smashed its initial target of £150m with strong demand from investors in the capital raise. A total of 228,899,083 new ordinary shares at an issue price of 115 pence […]

Downing Renewables & Infrastructure’s hydro debt facility classified as a green loan

Downing Renewables & Infrastructure (DORE) has announced that a €43.5m debt facility that its subsidiary, Downing Hydro AB, announced in December 2021 has been classified as a Green Loan by the lender, Skandinaviska Enskilda Banken (SEB), a leading corporate bank in the Nordics. Downing Hydro AB entered into the seven-year debt facility to finance its […]

HarbourVest Global Private Equity has its best year since its inception

HarbourVest Global Private Equity (HVPE) has announced its annual results for the year ended 31 January 2022, which its annual report describes as “A strong financial year with record levels of performance and activity”. To summarise, HVPE has provided NAV growth of 37%, share price growth of 48%, a 20 percentage point reduction in its […]

Gresham House Energy Storage rakes in £150m

Gresham House Energy Storage (GRID) has announced that its placing, which was announced 25 May 2022, has raised gross proceeds of £150 million. The proceeds, in conjunction with GRID’s available debt facilities, will allow it to fund the majority of its existing pipeline. GRID says that the placing was significantly oversubscribed and a scaling back […]

battery stoage
QuotedData’s morning briefing 27 May 2022

In QuotedData’s morning briefing 27 May 2022: Worldwide Healthcare (WWH) has announced that it is terminating its placing programme, which was established on 13 July 2021, with immediate effect. WWH expects to publish its annual results later today and, if the placing programme was still in effect, this would have required WWH to publish a […]

Urban logistics focus pays off for LondonMetric as profits soar

LondonMetric Property reported a profit uplift in annual results of 185% to £734.5m, with its focus on the urban logistics sub-sector boosting values. The group’s portfolio valuation was up £1bn in the year to £3.6bn, helped by valuation gains and new acquisitions. EPRA net tangible assets (NTA) increased by 37.2% to 261.1p, driven by 67.9p […]

Record results for Picton Property

Picton Property has reported impressive annual results for the year to 31 March 2022, with profit after tax of £147m – its highest since launching in 2005. Net asset value (NAV) was up a massive 24.4% over the 12 months to £657m or 120p per share (2021: £528m and 97p), helped by a 21% like-for-like […]

Picton Property
Wider discount holds back Edinburgh

Edinburgh Investment Trust shareholders may be disappointed that their return for the year ended 31 March 2022 failed to match that of the All-Share. The problem though was one of a widening discount rather than the underlying NAV return. Over the period, the NAV return was 14.1% to the index’s 13.0%, but the return to […]

Strong performance and a special dividend from Caledonia

Over the year to end March 2022, Caledonia Investments produced an NAV return of 27.9%. The dividend was increased by 3% to 64.8p (55th consecutive year of dividend increases), but on top of that the board is proposing a special dividend of 175p. The special dividend is being funded from the profits of two large […]

Narrower discount and good equity returns for Shires

Over the 12 months ended 31 March 2022, Shires Income underperformed its All-Share benchmark by 1.6%, returning 11.4% in NAV terms to the index’s 13.0%. A narrowing discount helped shareholders do better, however, giving them a return of 18.4%. It was the portfolio’s structure that held things back. A 2.8% return on the portfolio’s preference […]

Shires Income - Sustainable high yield 1
QuotedData’s morning briefing 26 May 2022

In QuotedData’s morning briefing 26 May 2022: The Financial Times has a story that there will be a windfall tax on oil and gas firms but, not yet at least, one on energy generators. The idea of an energy generation tax is said to be too complex to implement in a short timeframe. The BBC […]

Foresight Solar proposes policy change to allow investment in development stage assets

Foresight Solar proposes policy change to allow investment in development stage assets – Foresight Solar (FSFL) has proposed changes to its investment policy to allow it to invest up to 5% of its gross asset value into development stage assets, being solar or battery storage system opportunities that are pre-construction and may not have secured […]

Foresight Solar 2018 results published: Things looking up
Bluefield Solar Income pushes issue timetable back in response to windfall tax rumours

Bluefield Solar Income pushes issue timetable back in response to windfall tax rumours – The board of Bluefield Solar Income (BSIF) has responded to recent articles regarding unspecific rumours of a possible windfall tax on electricity generators including renewable generators. Given the timing of this press speculation relative to the originally planned closing date and […]

HICL Infrastructure credits inflation for strong results

HICL Infrastructure credits inflation for strong results – HICL Infrastructure (HICL) has posted its annual results for the year to 31 March 2022. During this time, its shareholder return was 12.8% while its NAV increased by 7.1%. This outperformance was driven by higher than expected inflation feeding through asset-level valuations, continued market pressure on infrastructure […]

HICL Infrastructure HICL
QuotedData’s morning briefing 25 May 2022

In QuotedData’s morning briefing 25 May 2022: JPMorgan China Growth & Income (JCGI) has posted its interim results for the six months to 31 March 2022. During this time, the trust’s total return on net assets (with net dividends reinvested) fell 30.8%, underperforming the benchmark MSCI China Index’s 17.5% decline (in sterling terms). The total […]

220406 China
Renewable energy funds hit by windfall tax rumour

A story in today’s Financial Times seems to have triggered a slide in the share prices of a number of renewable energy companies. Rishi Sunak is said to be exploring the possibility of a windfall tax on all energy generating companies, including those in the renewable energy sector, as well as oil and gas companies. […]

Greencoat buying four French windfarms

Greencoat Renewables is buying a 65MW portfolio of operating wind farms in France from Axpo, Switzerland’s largest producer of renewable energy.  The acquisition comprises four wind farms, each of which benefits from long-term contracts with the French government.  The 16MW Arcy-Précy windfarm is located in the Burgundy region of France and consists of eight Vestas […]

Helical delivers solid annual results

London office developer Helical has posted a 7.3% uplift in NAV for the year to 31 March 2022. The highlights of the results were: EPRA net tangible asset value per share up 7.3% to 572p (31 March 2021: 533p) EPRA net disposal value per share up 13.6% to 551p (31 March 2021: 485p) Net asset […]

33 Charterhouse Street
Warehouse REIT posts 33.2% NAV total return as it gears up for main market move

Warehouse REIT delivered a NAV total return for the year to 31 March 2022 of 33.2%, as it gears up for a move from AIM to the main market. EPRA net tangible assets (NTA) per share was up 28.6% to 173.8p (31 March 2021: 135.1 pence), thanks to a large increase in the value of […]

QuotedData’s morning briefing 24 May 2022

In QuotedData’s morning briefing 24 May 2022: Alina Holdings says that due to “the recent collapse in Global Equity Markets, and the board’s relatively bleak economic outlook with the potential for ‘Stagflation’, leading to further stock market declines” it intends to undertake an accelerated strategic review, including the potential sale of the company or liquidation […]

Fund Manager Brief: Paul Bridge, Civitas Social Housing plc (CSH)

Paul Bridge – Fund Manager Paul is the Chief Executive Officer within the Social Housing strategy. Paul has worked in all aspects of Social Housing for over 20 years and is a senior industry figure. From 2008 to 2014, Paul was Chief Executive of Homes for Haringey, a Registered Provider, where he was responsible for […]

Fund Brief: Civitas Social Housing plc

About Civitas Social Housing Since Civitas Social Housing began investing their approach has drawn other significant investors  into the sector with a variety of strategies and led to social housing and associated healthcare facilities emerging as an institutional alternative asset class. Civitas Social Housing are passionate about their work and the opportunity it presents to change […]

Bluefield Solar Income buys battery storage projects in Derbyshire and Worcestershire

Bluefield Solar Income buys battery storage projects in Derbyshire and Worcestershire – Bluefield Solar Income (BSIF) has acquired two standalone 40 MW battery storage projects from Green Hedge Energy UK Limited for approximately £4.5m. The acquisition represents the development rights, grid connection costs and the leasehold of land for the two projects, which are based […]

Schroder Oriental Income cuts performance fee

Schroder Oriental Income cuts performance fee – Schroder Oriental Income (SOI) has posted its interim results for the six months to 29 February 2022. During this period, the trust delivered an NAV return of 0.9% and a share price return of -0.7%. The share price discount to NAV ended the six month period at 5.2%, […]

Schroder Oriental reports marginal underperformance
QuotedData’s morning briefing 23 May 2022

In QuotedData’s morning briefing 23 May 2022: Pantheon Infrastructure (PINT) has invested approximately $46.1m (£37m) in Cartier Energy, a district energy platform in the US. The business is made up of eight district energy systems located across the Northeast, Mid-Atlantic and Midwest and provides diversified energy services such as heat (steam, hot water), cooling (chilled […]

Scottish Mortgage: why decarbonisation needs patient investors

Scottish Mortgage Investment Trust’s Claire Shaw explains why investing in the next generation of green technologies requires time and patience. “What is the greater challenge to decarbonisation? The speed at which we need to find breakthrough innovations to reform carbon-intensive sectors at scale or the patience investors require to fund the companies set to do […]

QuotedData’s weekly news show 20th May 2022

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: • Scottish Mortgage • HydrogenOne This week’s interview was with James Thom of Aberdeen New Dawn – watch it again here. previous story | next story

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