In QuotedData’s morning briefing 30 June 2021: International Public Partnerships is looking to raise money by issuing shares at 165p, a 15% premium to the end December 2020 NAV (adjusted for the 3.68p dividend declared since). The company has £56m of drawings on its debt facility and upcoming investments worth about £100m, including its investment in […]
Tech and healthcare exposure boosts performance for Standard Life Private Equity – Standard Life Private Equity (SLPE) has released its half-year report for the six months to 31 March 2021, during which time the trust’s NAV total return was 14.9% and the total share price return was 38.8%. This compares with a return of 18.5% […]
In QuotedData’s morning briefing 29 June 2021: Civitas Social Housing (CSH) has acquired three supported living properties and exchanged on one further property for a total consideration of £2.5m. All properties are based in the East of England and are self-contained single occupancy properties which have been specially adapted for adults with learning disabilities and mental health care […]
Bluefield Solar buys wind portfolio – Bluefield Solar has entered into a conditional sale and purchase agreement to acquire a portfolio of 109 small scale onshore wind turbines located across the UK for an aggregate consideration of approximately £60m (including working capital) from Arena Capital Partners Limited. The deal is conditional upon Bluefield securing the necessary […]
Hg, the manager of HgCapital Trust (HGT), announced that it has agreed the sale of Allocate, a leading workforce and people management software-as-a-service (SaaS) provider to healthcare and government organisations, to RLDatix, a global provider of intelligent patient safety solutions. The terms of the transaction have not been disclosed and completion is subject to closing conditions. […]
Chrysalis Investments (CHRY) announced an investment of £75m in Smart Pension. The investment forms part of a £165m series D funding round and includes £110m of newly issued primary capital and £55m of secondary equity acquired from existing shareholders of Smart Pension. CHRY is providing primary capital and says that it will join a pool of […]
In QuotedData’s morning briefing 28 June 2021 – RTW Venture (RTW), focused on identifying transformative assets with high growth potential across the biopharmaceutical and medical technology sectors, noted the 24 June announcement by one of its portfolio companies, GH Research regarding its pricing of a $160m IPO and admission to trade on the Nasdaq global market under ticker ‘GHRS.’ GH Research is […]
QuotedData’s weekly news show 25 June 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 covered the week’s top stories: Crystal Amber continuation vote Aberdeen Emerging update Literacy Capital starting trading Watch it again here This week’s interview was […]
QD view – Chinese private equity and why Fidelity China wants more of it. We have seen a welcome improvement in discounts on private equity trusts in recent months. For example, Oakley Capital has moved from trading on a 30% discount in March to around 11% today, while Apax Global Alpha, which saw its shares […]
“I wish we had 10 centres in Cornwall,” Mark Dixon, chief executive of IWG – the world’s largest flexible workspace provider, said at a recent webinar when discussing the shift in occupier demand during the pandemic. He believes the trend for working “near to home” is here to stay. “The genie is out of the […]
Worsley Investors (WINV – formerly AXA Property Trust) has announced its results or the nine month period ended 31 March 2021, during which its core equity strategy has performed strongly. During the period, WINV provided a return on its NAV of 4.16% that was driven by valuation of the Curno cinema and the invested portion […]
Activist investor Crystal Amber (CRS) has received a letter from Saba Capital, a shareholder that owns more than 25% of the fund, saying that it will be voting its shares against continuation in the vote that is due to take place at the AGM this year. Because CRS needs a minimum of 75% of shareholder […]
In QuotedData’s morning briefing 25 June 2021: Jupiter Emerging and Frontier Income (JEFI) has announced its interim results for the six months ended 31 March 2021. During the period, JEFI has provided a share price total return of 26.9% and an NAV of total return of 23.9%, both of which have strongly outperformed the 7.7% return provided […]
AEW UK REIT has reported strong annual results with a net asset value (NAV) total return of 15.1%. The group, which has a heavy portfolio weighting to the industrial sector (60.8%), saw its NAV increase 6.5% in the year to 31 March 2021 to 99.15p per share (March 2020: 93.13p). The group paid a dividend […]
BlackRock Income and Growth buys back shares to manage discount – BlackRock Income and Growth (BRIG) has published its half-year report for the six months to 30 April 2021. During the period, the trust’s net asset value per share returned 27.1%, compared with its benchmark, the FTSE All-Share Index, which returned 28.5%. BRIG’s share price however […]
LXI REIT has announced its intention to raise £75m through the issue of new shares. The issue price of 133p per share reflects a 2.3% premium to the company’s estimated IFRS net asset value (NAV) of 130p at 1 June 2021 and a discount of 7.9% to its closing share price of 144.4p. The proceeds […]
Round Hill Music Royalty announces new C share placing – Round Hill Music Royalty (RHM) has announced a placing of C shares at an issue price of $1 per C share under the terms of its placing programme. It plans to use the net proceeds of the C share offer, as well as the remaining undrawn balance […]
Good performance for Aberdeen Emerging Markets but board frustrated by discount – Aberdeen Emerging Markets (AEMC) has announced its half year report for the six months to 30 April. During this time its share price return was 20% while its NAV return was 21.5%. This compares to a 15.2% return for its MSCI Emerging Markets benchmark. The […]
SDCL Energy Efficiency Income makes use of new placing programme in tough year – SDCL Energy Efficiency Income (SEIT) has announced its annual results for the 12 months to 31 March 2021. For the year, it posted a total NAV return of 8% and an aggregate dividend of 5.5p per share. In June 2020, SEIT […]
Chelverton UK Dividend’s NAV soars after initial pandemic fall – Chelverton UK Dividend (SDV) has announced its full year results for the year ended 30 April 2021. During the period, the trust’s NAV soared by 81.9% while its share price total return also rose by 57.2%. During the same period, the MSCI Small Cap index […]
In QuotedData’s morning briefing 24 June 2021: The Apax Digital Fund, in which Apax Global Alpha (APAX) is a limited partner, has invested in Revolution Prep, a national provider of online academic tutoring and test preparation services. APAX is expected to invest approximately €3.6m in the company on a look through basis. The investment will be used […]
Literacy Capital announced its intention to seek admission of its ordinary shares to trading on the specialist fund segment of the main market of the London Stock Exchange. The company’s investment policy is to invest in a diversified portfolio consisting primarily of equity and equity-related securities issued by unquoted companies. The company expects to publish a prospectus […]
JPMorgan Japan Small Cap Growth and Income (JSGI) reported its annual results to 31 March 2021, with the 42.5% return in total NAV terms representing a significant outperformance of the company’s Japan SmallCap net return index benchmark index (up by 21.7% over the same period). The broader TOPIX index advanced 39.3% in Japanese yen terms over the […]
FastForward Innovations (FFWD), the private equity sector company focused on making investments in what it describes as fast-growing and industry-leading businesses, announced yesterday afternoon that an extraordinary general meeting (EGM) will be held on 9 July 2021 to consider certain resolutions including a proposed renaming of the company as Seed Innovations Limited (Seed Innovations). FFWD […]
In QuotedData’s morning briefing 23 June 2021 – Weiss Korea Opportunity Fund (WKOF) said that further to its announcement of 9 June 2021, it has made good progress with the sale of assets in the realisation pool and announced the first compulsory redemption of realisation shares representing approximately 76.7% of realisation shares in issue. Standard Life […]
Seraphim Space prospectus published The Seraphim Space Investment Trust prospectus is out and, as promised, we are making it available here. As always, we are not recommending that you buy the shares. In fact we are not acting in any capacity with respect to the IPO. The prospectus is just provided for your convenience. There […]
Share price boost for Schroder UK Mid Cap after refinements to strategy – Schroder UK Mid Cap (SCP) has announced its results for the six months to 31 March 2021, during which time its NAV was up 23.9% compared to a slightly higher 28.8% return from its FTSE 250 ex Investment Trusts index. However the board […]
Bankers secures dividend growth despite underperformance – Bankers (BNKR) has published its interim results for the six months to 30 April 2021. During this time, its share price rose by 17.7% and its NAV by 17.4%, underperforming its FTSE All-Share benchmark return of 21.5%. Bankers has underperformed its index over one and three years but […]
NextEnergy Solar invests in private sister fund – NextEnergy Solar (NESF) has invested $50m into NextPower III LP (NPIII – a private ESG solar infrastructure fund, also managed by NextEnergy Capital) and a commitment to a new revolving credit facility of £100m. The investment will represent approximately 3.5% of NESF’s GAV as at 31 March […]
In QuotedData’s morning briefing 22 June 2021: JPMorgan Emerging Markets (JMG) has revised its investment management fee arrangements after a review recently performed by its board. With effect from 1 July 2021, the investment management fee will be charged at 0.75% per annum on the value of the company’s total assets less current liabilities (previously at […]
