Capital Gearing Trust’s results for the 12 months ended 31 March 2025 show a NAV return of 4.1% and share price return of 3.6%, which compares to inflation over that period of 2.6%. The discount widened slightly from 2.4% to 2.8%. The focus of the trust is on long-term returns. Over five years, the NAV […]
RM Infrastructure Income has been in a managed wind-down process since 20 December 2023. On 25 September 2024, a successful tender offer returned c.£17.5m to shareholders at 88.59 pence per share (the NAV on 30 August 2024). This represented 16.6% of the issued share capital. Today, the trust is launching a tender offer of up […]
Odyssean Investment Trust’s results for the year ended 31 March 2025 show a 10.7% fall in NAV and 13.5% fall in share price, and a shift from trading on a small premium to a small discount (2.5%). The returns fall short of the return on the Deutsche Numis Smaller Companies ex Investment Companies plus AIM […]
HarbourVest Gobal Private Equity says that, for the year ended 31 January 2025, it generated a NAV return (in dollars) of 7.3% and a share price return (in sterling) of 19.2% (as the discount narrowed from 42% to 35%). The trust announced a range of measures on 30 January 2025 that are aimed at narrowing […]
Shires Income has announced results covering the 12 month period that ended on 31 March 2025. The trust returned 9.5% in NAV terms and 22.4% in share price terms (as the discount narrowed from 13.3% to 3.7%). By contrast the return on the All-Share index benchmark was 10.5%. The full-year dividend of 14.8p matches Shires’ […]
JPMorgan Japanese has announced that Xuming Tao has been made a co-manager of the trust, working alongside the existing team of Nicholas Weindling and Miyako Urabe. Xuming has been a member of the Japanese equity team at JPMAM in Tokyo since 2019 and was a co-manager of JPMorgan Japan Small Cap Growth & Income before […]
In QuotedData’s morning briefing 29 May 2025: We also have: Did you see yesterday?
CQS Natural Resources Growth and Income (CYN) has announced the results of a wide-ranging strategic review, unveiling a proposed 100% tender offer alongside a package of initiatives designed to enhance long-term shareholder value. Investors will be offered the flexibility to exit the trust in full or remain invested under improved terms that include a significantly […]
Baillie Gifford Shin Nippon (BGS) has announced a change in its portfolio management team, with Brian Lum taking over as lead portfolio manager from Praveen Kumar with immediate effect. Jared Anderson has been appointed deputy portfolio manager. The move follows an internal review by Baillie Gifford and forms part of a broader set of changes […]
In QuotedData’s morning briefing 28 May 2025: We also have: Stories you may have missed from yesterday:
In QuotedData’s morning briefing 27 May 2025: Did you see from Friday?
This time last week I was at Baillie Gifford’s Investment Trust Conference in Edinburgh – a two-day event, held every three years, that sees Baillie Gifford playing host to around 250 professionals from the world of investment companies. The event provides a useful forum to discuss the latest developments in the sector. However, we also […]
VH Global Energy Infrastructure (ENRG) has announced a significant shift in strategy, with plans to begin an orderly realisation of its portfolio and return capital to shareholders over the next three years. The decision follows extensive shareholder consultation and comes amid sustained pressure from ENRG’s wide share price discount to NAV, currently around 44%. The […]
Franklin Global Trust (FRGT – formerly Martin Currie Global Portfolio) has announced upcoming changes to its investment management arrangements, following Franklin Templeton’s decision to retire the Martin Currie brand in 2025. Effective from 12 July 2025, the company’s portfolio management will formally transition from Martin Currie Investment Management (MCIM) to Franklin Templeton Investment Management (FTIML) […]
In QuotedData’s morning briefing 23 May 2025: We also have: Stories you may have missed from yesterday:
HarbourVest Private Equity says it will change the way it invests – moving from investing through HarbourVest Partners’ co-mingled funds to direct investments in third party funds, secondary opportunities and co-investments – a ‘separately managed account’. The transition to the new structure will be gradual as new commitments are invested this way, while the existing […]
BioPharma Credit highlights yesterday’s announcement that Paratek has completed its purchase of OPTN. In connection with this, BioPharma Credit received $82.8m, $71.5m was the repayment of the loan it had made to OPTN and $11.3m came as ‘make-whole’ and prepayment fees, and accrued interest. There is another $1.6m to come in connection with the company’s […]
Picton Property delivered strong income and valuation growth in annual results, with NAV up 4.2% to 100p per share and EPRA earnings up 5% to 4.2p. The company’s portfolio increased in value by 3.8% on a like-for-like basis to £723m, while contracted rent was up 3.0% over the year to 31 March 2025. Income growth […]
STS Global Income & Growth has published results covering the 12 month period ended 31 March 2025, and they are good. The NAV and share price return were both 10.9% over the period which compares to a return on the Lipper Global – Equity Global Income Index of 4.5%. The total dividend for the year […]
British Land expects its development pipeline to be the catalyst for growth over the next few years as a pinch in real estate supply takes effect. In annual results released today, the company said its central London office campus portfolio, which includes Broadgate in the City, was at an inflection point with valuations in the […]
Scottish Mortgage has announced results for the 12 months ended 31 March 2025. Over the period, it generated a NAV return of 11.2% and a share price return of 6.0%, which despite the implied discount widening, are both ahead of the 5.5% return delivered by the All-World Index. The statement stresses the importance of looking […]
In QuotedData’s morning briefing 22 May 2025: We also have: Did you miss from yesterday?
The Edinburgh Investment Trust (EDIN) has released its annual financial report for the year ended 31 March 2025, during which its net asset value (NAV) rose by 8.3% on a total return basis, underperforming its All-Share Index benchmark, which EDIN says increased by 10.5%. The share price advanced 11.3%, closing the year at 740p, reflecting […]
Apax Global Alpha (AGA) has announced that it expects to invest approximately €25m on a look-through basis into the Treasury and Capital Markets (TCM) division of Finastra, following the acquisition of the business by the Apax XI Fund. The transaction, announced by Apax XI on 19 May 2025, will see the carve-out and rebranding of […]
Third Point Investors (TPOU) has announced an all-share deal to acquire Malibu Life Reinsurance SPC (Malibu), marking a significant strategic pivot towards becoming what it describes a fast-growing, fully capitalised reinsurance operating company listed in London. The proposed acquisition – structured on a “NAV for NAV” basis – will see TPOU issue new ordinary shares […]
Hammerson has increased its ownership of north London shopping centre Brent Cross, with a £186m acquisition of abrdn UK Shopping Centre Trust (SCUT) stake. It has bought 95% of the units in SCUT, which holds the 59% of Brent Cross not already held by Hammerson, at a 16% discount to book value as at 31 […]
Two London offices developers announced annual results today that reflect a changing in fortunes for the much-maligned sector. Great Portland Estates (GPE) posted a 3.6% uplift in the value of its portfolio to £2.9bn, with the offices portion up 4.3%. This contributed to a 4.4% increase in EPRA net tangible assets (NTA) to 494p over […]
HICL Infrastructure (HICL) has announced its annual results for the year ended 31 March 2025, delivering robust operational performance despite macroeconomic headwinds and continued pressure on its share price. However, HICL’s net asset value (NAV) per share declined by 3.2% over the year to 153.1p (from 158.2p), largely due to a 40bps rise in the […]
In QuotedData’s morning briefing 21 May 2025: We also have: Stories you may have missed from yesterday:
Merger and acquisition (M&A) activity has boosted rents, earnings and dividend growth at LondonMetric, as it delivers an impressive set of annual results. Net rental income increased 123% to £390.6m in the 12 months to 31 March 2025, with EPRA earnings up 120% to £268.0m (up 20.7% on a per share basis to 13.1p), following […]
