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 […]
The UK Residential REIT 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 are geographic restrictions on who can invest in […]
Third Point Investors (TPOU) have issued proposals for what they describe as an innovative exchange facility. However, before we get carried away, these will not be of any use to smaller shareholders as “the minimum aggregate value of TPIL Shares which any one shareholder may tender for exchange will be US$10 million, based on the […]
Seraphim Space Investment Trust Plc (SSIT) has issued an ITF (intention to float) announcing its intention to launch an initial public offering for a listing on the premium segment of the main market of the London Stock Exchange. The newly established investment trust, which will invest in a diversified international portfolio of early and growth stage Space […]
Stenprop, the multi-let industrial (MLI) property company, has posted a NAV total return for the year to 31 March 2021 of 11.4%. This was made up of a 6.5% increase in EPRA net tangible assets (NTA) to 147p per share and dividends paid of 6.75p in the year. The group’s portfolio, which is now 74.3% […]
The board of Sigma Capital Group, the private rented sector (PRS) specialist, has reached agreement on the terms and conditions of a recommended cash offer for the business, valuing it at £188.7m. Private equity company PineBridge Benson Elliott has offered 202.1p per share for the company, which is a 35.6% premium to last night’s closing price […]
Aberdeen New India (ANII) has released its annual results for the year ended 31 March 2021, during which its NAV has seen an epic rebound from its March 2020 lows (it provided an NAV total return of 52.7%), although it underperformed its benchmark, the MSCI India Index, which rose by 59.1% (all in sterling total […]
In QuotedData’s morning briefing 11 June 2021: Grainger, the UK’s largest listed residential landlord, has acquired The Forge, in Newcastle, a Build-to-Rent (BTR) asset comprising 283 rental apartments, for £57m from Moorfield Real Estate Fund III. The purchase price represents a gross yield of 6.25%. Target Healthcare REIT has completed the acquisition of a luxury care home in […]
Pacific Horizon’s Markson-Brown departs Baillie Gifford for Crux – Ewan Markson-Brown, co-manager of the top-performing Pacific Horizon investment trust has left Baillie Gifford to join Crux Asset Management in September this year. Markson-Brown has co-managed the trust alongside Roderick Snell for the past seven years, in which time it has delivered 360%, significantly ahead of […]
LXI REIT has exchanged contracts on the forward funding acquisition of a 94,000 sq ft garden centre in Reading for £19m, reflecting an accretive 5.3% net initial yield. The property is pre-let to Dobbies, the UK’s largest garden centre operator and an existing tenant of the company, on a new 35-year lease, with no break […]
Good news for Gresham House Strategic as requisition notice withdrawn – Gresham House Strategic (GHS) has announced that, following discussions with Gresham House, its largest shareholder, the notice of requisition of a general meeting received by Rock Nominees (on behalf of Gresham House) issued last month, has been withdrawn. As a result, the AGM will […]
GCP Infrastructure Investments has announced interim results covering the six months ended 31 March 2021. Highlights are: NAV at 31 March 2021 of 100.78p (31 March 2020: 109.83p) Total shareholder return for the period of -8.8% (31 March 2020: -8.1%) and total shareholder return since IPO in 2010 of 100.3% Dividends of 3.5p per share paid for the six […]
Gabelli Value Plus+ enjoys strong results but future remains uncertain – Gabelli Value Plus+ has released its full year results for the year ending 31 March 2021, in which it achieved a NAV total return of 64.3% and a share price total return of 98.15%. By comparison, the S&P 500 Index was up 40.5% (in sterling), […]
JLEN NAV declines on tax hike and power prices – JLEN Environmental has published its results covering the year ended 31 March 2021. The NAV has fallen from 97.5p to 92.2p. This reflects the planned increase in UK corporation tax, from 19% to 25% from April 2023, and a downward revision to electricity and gas price […]
In QuotedData’s morning briefing 10 June 2021: Octopus Renewables Infrastructure (ORIT) has announced a proposed issue of ordinary shares of 1 pence each, to raise gross proceeds of around £100m. The Issue will be by way of a placing, open offer, offer for subscription and intermediaries offer for a target issue of up to 96,551,724 ordinary shares […]
Lar Espana Real Estate has extended the investment management agreement (IMA) with Grupo Lar by five years on a reduced fee. The board of directors of the company, which owns retail malls in Spain and listed on the Madrid Stock Exchange in 2014, has agreed to renew the IMA with a new fee structure. The […]
Urban Logistics REIT has reported a stellar set of annual results in which EPRA net tangible assets (NTA) increased 10.5%. The uplift, to 152.33p per share at 31 March 2021 from 137.89p the previous year, reflected a jump in the value of its properties (by 13.2%) as the logistics sector continued its strong ascent. Total accounting […]
Troy Asset Management-managed Personal Assets (PNL) has reported its annual results to 30 April 2021, delivering a NAV return of 9.1%, which compares to a rise of 22.1% in the FTSE all-share index. Over the year, PNL managed to issue a record number of net new shares, for a net inflow of £229.8m. ‘Fixed income no […]
Baillie Gifford UK Growth (BGUK) has published results covering the year to the end of April 2021. The NAV total return of 37.7% was significantly ahead of the 25.9% registered by the All-Share index. The share price total return for the same period was 53.7%, as UK equities returned to favour. Performance was led by Farfetch, Ashtead, […]
In QuotedData’s morning briefing 9 June 2021 – JPMorgan Indian (JII) announced interim results to 31 March 2021. While the fund performed well, it was of course a very difficult time for India as a whole. JII managed to deliver a total return NAV return of 21.8%, which compares with a return of 19.2% from […]
‘Skin in the game’ disclosure demand Interactive Investor, the direct-to-consumer investment platform, has called for fund managers to be forced to disclose whether they invest in the funds that they manage. It has written to the Financial Conduct Authority and the Financial Services Consumer Panel, calling for measures to be brought in similar to those in […]
Cordiant placing underscores digital demand – Cordiant Digital Infrastructure says its C share issue raised £185m – it will issue 185m shares at £1 per C share. The company has a pipeline of investments lined up. [This comes very shortly after this morning’s announcement from Digital 9 Infrastructure that it raised £175m from investors. Cordiant’s […]
VPC Speciality Lending lifted by Dave – VPC Impact Acquisition Holdings III, a special purpose acquisition company (SPAC) sponsored by an affiliate of Victory Park Capital has agreed to combine with Dave Inc. VPC Specialty Lending Investments currently owns 1,021,630 Class B Shares and 829,154 private placement warrants in the SPAC, which it bought for an aggregate […]
BB Biotech’s large bet on the US regulatory approval of Biogen’s Alzheimer’s disease therapy aducanumab has met with success, after the FDA rendered an approval in a landmark, although highly controversial, decision yesterday. The news prompted a huge rise in Biogen’s share price (Nasdaq: BIIB), which closed 38% up at $395/share, having peaked at $450 […]
Stellar year for Fidelity China Special Situations as it enjoys highest annual NAV return – Fidelity China Special Situations (FCSS) has recorded its highest annual net asset value total return of 81.9% and share price total return of 97.2%, as revealed in its annual financial report for the year ended 31 March 2021. This was […]
Aberdeen Japan dips into revenue reserves to deliver 15p dividend – Aberdeen Japan (AJIT) has released its annual results to 31 March 2021 which saw it deliver a total NAV return of 33.5% in sterling terms, ahead of the Topix, which returned 24.8% over the year. The return to shareholders was 35.2% while it ended the year trading on a […]
In QuotedData’s morning briefing 8 June 2021: Aberdeen Smaller Companies Income (ASCI) has appointed Christopher Metcalfe, a former investment manager at Newton IM, Schroders and Henderson Administration Group, as an independent non-executive director, following the retirement of former director Barry Rose. The board also said an additional independent non-executive director will be recruited before the company’s […]
Templeton Emerging Markets’s (TEM’s) annual results to 31 March 2021 saw it deliver a total NAV return of 54.5%, which was significantly ahead of the benchmark MSCI Emerging Markets index return of 42.8%. The return to shareholders over the year amounted to 59.5%. In addition to its strong exposure to China, which had such a strong 2020, […]
