Industry veteran and former F&C chair Simon Fraser passes away – Simon Fraser, former chief investment officer at Fidelity International and investment trust industry veteran, has passed away following a short illness, aged 62. He spent 28 years at Fidelity, starting in 1981, where he worked in the US, Europe and Asia. After leaving Fidelity, Fraser spent […]
Strong performance from Baillie Gifford US Growth despite negative revenue return – Baillie Gifford US Growth (USA) has posted its annual results for the year to 31 May 2021. During the period, the company’s share price and net asset value (calculated deducting borrowings at fair value) returned 63% and 62.8% respectively. This compares with a total […]
In QuotedData’s morning briefing 11 August 2021: Round Hill Music Royalty (RHM) has made its first open market acquisition since its IPO by acquiring the music catalogue of Yes guitarist and film score composer, Trevor Rabin. This includes 3,528 cues from films such as Armageddon, Enemy of the State and Bad Boys II and songs such as Owner of a Lonely […]
New threat to Berlin landlords – an article in todays FT (NB paywall) alerted us to a potential new issue for companies investing in Berlin residential property. After the good news from the rejection of rent controls (Mietendeckel) we now have a proposal to expropriate properties owned by large landlords in the city. A petition, […]
Derwent London adds to West End portfolio – Derwent London has announced three off-market West End transactions. West End Properties The largest property being acquired is 250 Euston Road NW1 which totals 165,900 sq ft and sits on a 1.6 acre site. This freehold office building is let in its entirety to University College London Hospital […]
Tritax EuroBox funds Turin warehouse – Tritax EuroBox says that conditional contracts have been entered into to acquire land and provide forward funding for the development of a new highly specified and sustainable logistics warehouse facility in Settimo Torinese near Turin, Northern Italy for a total consideration of €24.39m. The property will be developed by LCP […]
Swiss investor BB Biotech’s (SWX:BION) large position in US covid vaccine producer Moderna continues to drive a remarkable performance in a volatile US biotech market. Yesterday, Moderna (Nasdaq: MRNA) surged 17% to a new all-time high of $484.5/share, giving it a market capitalisation of $167bn. Moderna is the largest of BB Biotech’s holdings accounting for […]
Diverse Income approach pays off – the impact of COVID-19 hit many large dividend paying companies last year. By diversifying its portfolio across both large and small companies, Diverse Income was able to emerge from this period with strong results. For the year ended 31 May 2021, Diverse Income Trust reports an NAV total return to […]
In QuotedData’s morning briefing 10 August 2021: Literacy Capital (BOOK) says that Butternut Box, a business providing healthy, fresh dog food on a subscription to dog owners’ doors, has finalised a funding round to raise further equity to support the continued growth of the business. As at 30 June 2021, Butternut Box was Literacy Capital’s 3rd largest […]
Another legendary acquisition for Hipgnosis boosts Fleetwood Mac exposure – Hipgnosis Songs (SONG) has acquired a catalogue from Christine McVie, best known as one of the key writers and vocalists of one of the most successful bands of all time, Fleetwood Mac. Christine McVie made two UK Top 20 albums with ‘Chicken Shack’, her debut solo album, ‘Christine Perfect’, […]
Smithson lags benchmark during first half of 2021 but reminds investors of long-term growth – Smithson (SSON) has published its interim results for the six months to 30 June 2021. During this time, its NAV return was 5.9% while its share price total return was 4.1%. This compares with a 12.4% return from its benchmark MSCI […]
In QuotedData’s morning briefing 9 August 2021: Schroder UK Public Private (SUPP) has made a $13.7m investment in neobank, Revolut, as part of the business’ $800m Series E funding round which values it at $3bn. The investment is in line with SUPP’s focus on backing innovative businesses founded in the UK with disruptive innovations, significant global growth potential, […]
Our monthly roundup of news and views from the investment companies sector should be hitting your inboxes shortly. The macro roundup contains a long and detailed but fascinating look at the technology sector from Ben Rogoff, manager of Polar Capital Technology. He was writing in the trust’s annual report, which was published on 20 July. […]
The potential offer for Drum Income Plus REIT (DRIP) by Custodian REIT (CREI), which we think makes perfect sense for both sides (see our news story for more detail) got us looking into the wider UK commercial property peer group to see how are they faring now as the country transitions out of lockdown. The […]
QuotedData’s weekly news show 06 August 2021 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 and Richard Williams covered the week’s top stories: Fund combinations – Aberdeen Emerging/Aberdeen New Thai and Custodian REIT/Drum Income Plus REIT They were […]
Civitas Social Housing is considering an equity raise to fund its acquisition pipeline and enhance returns. The group said uncommitted capital resources were limited so it would evaluate options, including a potential equity raise, to fund new acquisitions. An £85m M&G debt facility, agreed earlier this year, has been invested or reserved for existing pipeline […]
Invesco Perpetual Select has published its annual results for the year ended 31 May 2021, which show outperformance from all four of its portfolios of their benchmarks during the year. The announcement includes the following highlights: All four portfolios delivered positive outperformance over the period. Dividends rose to 6.65p per UK Equity Share and 7.10p […]
In QuotedData’s morning briefing 6 August 2021: JPMorgan Claverhouse (JCH) has published its interim results for the six months ended 30 June 2021. The managers say that the portfolio performed well over the period, benefitting from a significant exposure to stocks geared into the nascent economic upturn. During the period, JCH provided an NAV total return […]
Apax funds see hefty gains over Q2 – Apax Global Alpha holds a portfolio of private equity funds and derived investments (equity and debt positions in companies that the Apax team knows well). This morning, Apax Global Alpha posted valuation statements for each of the underlying Apax funds that it holds. We think that there […]
Pantheon benefits from substantial discount narrowing – for the year ended 31 May 2021, Pantheon International posted an NAV return of 19.6% but shareholders got a return of 31.7% as its discount narrowed considerably. The share price returns were ahead of the UK market but about 5.9% behind those of the MSCI World Index (which […]
In QuotedData’s morning briefing 5 August 2021: JPEL Private Equity is returning $85m to investors – using cash it had on its balance sheet and the proceeds of its sale of Swania International. Effectively, this will mean the compulsory redemption of about 42.5m JPEL shares, about 51.5% of the company. The redemption price is based on […]
Standard Life Investments Property Income Trust (SLI) has reported a 3.5% jump in net asset value (NAV) in the quarter to 30 June 2021, as the property market continues to bounce back from the impact of COVID. The increased in NAV, to 88.3p per share, was due to a 3.3% like-for-like rise in the value […]
Custodian REIT (CREI) is in discussion over a possible securities exchange offer for the entire issued share capital of Drum Income Plus REIT (DRIP). The possible offer is at a ratio of 0.535 CREI ordinary shares for each DRIP ordinary share, giving an implied value for the entire issued and to be issued share capital of DRIP […]
Another year of outperformance for Henderson Smaller Companies – Henderson Smaller Companies (HSL) has posted its annual report for the year to 31 May 2021. During the year, it delivered a NAV total return of 58.5% and a share price total return of 69.3%, outperforming both its Numis Smaller Companies Index benchmark and the AIC […]
In QuotedData’s morning briefing 4 August 2021: One of Schroder British Opportunities’s (SBO) private equity holdings, Rapyd, has completed a $300m Series E funding round. The global Fintech as a Service company had recently acquired Valitor, a European payments and card issuing company and also launched a venture arm. The additional funds will enable Rapyd to […]
Great results from BMO Managed Portfolio – over the year ended 31 May 2021, BMO Managed Portfolio’s growth and income pools both beat the UK market. The Income pool delivered an NAV return of 29.0%, beating the UK market by 5.9% and the Growth pool returned 32.5%, beating the UK market by 9.4%. The dividend […]
In QuotedData’s morning briefing 3 August 2021: Vietnam Holding (VNH) proposes to hold a tender for up to 30% of its issued share capital. To be eligible to participate, shareholders must have owned the share on 2 August. Shareholders will be asked to approve the tender at a meeting scheduled for 31 August 2021 and payment […]
Allianz Technology hit by market rotation from growth to cyclical stocks – Allianz Technology (ATT) has posted its interim report for the six months to 30 June 2021. During the period, it achieved a 7% NAV increase though its share price was down by 0.8%. Meanwhile, the Dow Jones World Technology index was up 13.9%. […]
RIT Capital Partners enjoys new all-time high NAV numbers – RIT Capital Partners (RCP) has published its results for the half-year to 30 June 2021. During this time, the company enjoyed a 19.1% uplift in NAV, resulting in a new all-time high NAV per share of 2,711 pence. Meanwhile, the share price increased by 18.5% […]
Unlisted name is Fidelity Japan’s ‘standout contributor to performance’ – Fidelity Japan (FJV) has released its interim results for the six months to 30 June 2021, during which time its NAV rose by 2.3% and its share price was up 2.5%. The company said this reflects the fact that the discount narrowed marginally to 6.6% […]
