In QuotedData’s morning briefing 21 June 2021: JZ Capital Partners (JZCP) has sold its portfolio holding Salter Labs, for approximately $41m. The company’s interest in Salter Labs is currently valued at around $37.6m. Further proceeds of approximately $750,000 have also been placed in escrow whereby some or all, depending on the outcome of certain closing adjustments, […]
Real estate has historically been a good hedge against inflation and, with the consumer prices index (CPI) rising to 2.1% in May heightening fears that stagflation could be round the corner, investors may be keen to double down on their real estate investment trust (REIT) exposure. However, traditional real estate market drivers are not at […]
QuotedData’s weekly news show 18 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: Augmentum Fintech – Proposed £40m raise Lindsell Train – Why 2021 has disappointed to date Montanaro European Smaller […]
The world is a different place than it was 18 months ago. COVID-19 and the ramifications of the lockdowns used to contain it have changed the investment landscape considerably. In a relatively short period of time, we have gone from concerns that we were approaching the tail end of a long bull market, to a […]
Monks (MNKS) has announced its annual results for the year ended 30 April 2021, during which its chairman, Karl Sternberg, says that strong fundamentals drove impressive increases in revenues across a range of portfolio holdings. During the year, MNKS provided an NAV total return of 55.5%, and a share price total return of 53.1%. Both […]
Montanaro European Smaller Companies (MTE) has announced its annual results for the year ended 31 March 2021, which have seen MTE beat its benchmark as markets have recovered following the COIVD related market crash of March 2020. During the year under review, MTE’s NAV rose by 66.1% to 1,589.0p per share, while shareholders also benefitted […]
In QuotedData’s morning briefing 18 June 2021: Chelverton UK Dividend Trust has declared a special dividend of 0.272p per share for the year ended 30 April 2021. The special dividend will be paid alongside the fourth interim dividend for the year (2.5p per share) on 16 July 2021. It will be paid to holders on the register at […]
Momentum Multi-Asset Value (MAVT), formerly Seneca Global Income & Growth, reported its annual results to 30 April 2021. The NAV total return was 47.9%, while the benchmark return amounted to 7.5% (CPI plus 6% per annum). The return to shareholders was 48.5%. Regarding some of the corporate developments over the year, MAVT noted that “In March, the […]
NextEnergy Solar (NESF) reported annual results to March 31 2021, with the following highlights: Despite unprecedented times, NESF delivered a solid set of financial results, its target of 150MW of subsidy-free development assets, and updated its investment policy to unlock growth opportunities Power price fluctuations were effectively managed through the successful hedging strategy implementation and […]
Syncona (SYNC), an investment company focused on founding, building and funding a portfolio of global leaders in life science, announced its final results for the year ended 31 March 2021, including a NAV total return of 4.4% and a 11.8% return delivered by the life science portfolio. Additions to the portfolio SYNC made a note of the following […]
Lindsell Train (LTI) reported its annual results to 31 May 2021, with the following performance highlights: Share price total return – 38.9% NAV total return – 29.0% Benchmark return – The annual average running yield on the longest-dated UK government fixed-rate bond currently UK Treasury 1.625% 2071, calculated using weekly data, plus a premium of […]
In QuotedData’s morning briefing 17 June 2021 – Augmentum Fintech (AUGM) will look to raise £40m as part of an ongoing share issuance programme. AUGM says it has a pipeline of over £1bn across all of its target sectors and geographies, including approximately £194m of opportunities in active development, and as such is well-positioned to continue to […]
Tritax EuroBox has acquired a logistics asset in the Port of Gothenburg, Sweden – its first in the Nordics – for SEK474 million (€47m). The 28,900 sqm property comprises two purpose built logistics facilities (one of 16,200 sqm and the other 12,700 sqm), located in the heart of the prime logistics location in the Port of […]
Taylor Maritime (TMI/TMIP), the recently launched specialist dry bulk shipping investment company, announced that it had successfully completed the deployment of the proceeds raised at IPO last month following the purchase of two Japanese built geared Handysize bulk vessels for an aggregate consideration of US$26.5m in cash. Both vessels are being acquired at below 80% of […]
JPMorgan European Discovery (formerly JPMorgan European Smaller Companies) announced annual results to 31 March 2021. We note that the change in name has been carried out in order to better reflect the company’s investment strategy and its portfolio. Some of the portfolio companies have market capitalisations of up to EUR8bn; as such, the board believes […]
Hipgnosis Songs (SONG) announced plans to raise approximately £150m through an ordinary shares placing at a price of 121p. The issue price represents a: 2.4% discount to SONG’s closing share price of 124p on 15 June 2021. 2.0% premium to the adjusted operative NAV, based on the GBP to USD exchange rate of 1.4115 on […]
The Apax X fund (Apax X), in which Apax Global Alpha (APAX) limited partner, announced the signing of a definitive agreement to acquire a majority stake in CyberGrants, a leading provider of software-as-a-service (SAAS) solutions for corporate social responsibility (CSR), employee engagement, and volunteer management. The transaction is expected to close in Q3 2021, subject to […]
In QuotedData’s morning briefing 16 June 2021 – RTW Venture (RTW) raised gross proceeds of $8.967m following the issue of ordinary shares at a price of $2.07. Further to its announcements on 28 May 2021, Ashoka India Equity (AIE) announced the results of its initial issue, with applications for 2.85m ordinary shares having been received. The shares will […]
RTW backs Umoja Biopharma – Umoja Biopharma, Inc. has just completed a $210m Series B financing round. RTW Venture Fund participated in the financing round together with other investment firms, including other investment vehicles of RTW Investments, LP. Umoja is a US-based privately held oncology company. It is using a new approach to immunotherapy, reprogramming immune cells directly […]
BB Biotech (SWX:BION) increased its stake in the US cancer biotech MacroGenics by a fifth just over a week ago, seemingly taking advantage of a fall in the company’s share price in the wake of the ASCO scientific meeting earlier this month. Hitherto, MacroGenics ranked in tenth position in BB Biotech’s portfolio, accounting for 3.6% […]
Tough year for Montanaro UK Smaller Companies as growth style left behind – Montanaro UK Smaller Companies (MTU) has released its annual results for the year ended 31 March 2021, during which its total share price was up by 50% and its NAV 35.8%. Unfortunately this fell short of its Numis Smaller Companies (ex investment […]
In QuotedData’s morning briefing 15 June 2021: RTW Venture, who we had on the weekly show last Friday, said yesterday that it is planning to issue new ordinary shares at a price of US$2.07. This is an 11.9% premium to the last NAV. The results of this should be out later today. CIP Merchant Capital (CIP) has […]
It was announced on 11 June 2021 that the Apax X fund (Apax X), in which Apax Global Alpha (APAX) is a limited partner, was to acquire a majority ownership stake in Infogain, a Silicon Valley-based leader in digital platforms and software engineering services. The transaction is expected to close in Q3 2021. On a look-through basis, […]
Augmentum Fintech (AUGM) released its annual results to 31 March 2021, as well as announcing proposals to 1) amend its investment policy and 2) issue new ordinary shares and/or C shares in connection with a proposed share issuance programme (including an initial issue of new ordinary shares targeting at least £40m at an expected price of 135.5p). […]
JLEN Environmental Assets (JLEN) has bought a 100% stake in Cramlington Renewable Energy Developments (CRED), which owns a biomass combined heat and power plant (CHP plant) and its underlying contracts. The acquisition of CRED, for an undisclosed amount, was made on a debt-free basis and represents JLEN’s first investment into a large-scale biomass CHP plant. The […]
In QuotedData’s morning briefing 14 June 2021 – VH Global Sustainable Energy Opportunities (GSEO) announced the completion of its acquisition of the first $4m tranche out of its $63m commitment to a Brazilian solar power programme. The initial tranche will fund the construction of four projects across Rio de Janeiro, which once operational will provide […]
As an analyst in the investment companies sector, one of the exciting things is that asset managers are always dreaming up new ideas for funds to launch. I can go from looking at Asian smaller companies in the morning to European renewable energy in the afternoon. Already this year we have seen the launch of […]
As the most sensitive sector to the reflationary trade, financials stand to be a primary beneficiary of an upward shift in inflation and interest rate expectations, explains George Barrow, co-manager of the Polar Capital Global Financials Trust plc. Following strong demand in the financials sector, evidenced by PCFT shares trading at a premium to net […]
QuotedData’s weekly news show 11 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: Pacific Horizon’s Markson-Brown departs Baillie Gifford for Crux BB Biotech’s Biogen bet plays out successfully Digital 9 Infrastructure […]
The industrial and logistics sector has been the standout property performing for some time now and particularly during the pandemic, where accelerated online retailing trends and new supply-chain resilience requirements has significantly boosted demand. However, contrasting views on the future growth prospects of one of the sub-sectors, multi-let industrial, was borne out this week in […]
