Artemis Alpha says that its NAV fell by 21.9% and the share price by 24.8% over the year ended 30 April 2022 (on a total return basis). In comparison the benchmark All-Share Index rose by 8.7%. The chairman says that this was a disappointing result and points to a 5.9% fall in the 250 Index […]
abrdn New Dawn Investment Trust has published results covering its financial year ended 30 April 2022. In a difficult period for markets, the trust slightly underperformed its MSCI All Countries Asia Pacific ex Japan benchmark, returning -11.0% in nAV terms and -11.8% in share price terms against -9.2% for the benchmark. An unchanged dividend of […]
In QuotedData’s morning briefing 7 July 2022: NB Global Monthly Income (NBMI) says that investors submitted 25,500,417 shares to its cash exit offer (10.3% of the company). The tender was for up to 25% of shares held so all these shares will be redeemed at 81.92p (NAV less 2%). Some investments are less liquid than […]
HgCapital boosts investment in entrepreneurial platform team.blue – Hg, the manager of HgCapital (HGT) has announced a further investment in team.blue, a leading digital enabler for companies and entrepreneurs across Europe. The terms of the transaction have not been disclosed and completion is subject to closing conditions. Following the transaction, HGT will make a net […]
Impact Healthcare REIT has raised £22.3m in a placing and offer for subscription. The group said the proceeds would be used with existing resources to acquire a pipeline of care home investments. The group is in advanced negotiations to acquire six portfolios, consisting of 27 separate care homes, for a total of £169m. Existing resources […]
In QuotedData’s morning briefing 6 July 2022: abrdn China (ACIC) has posted its interim results for the period from its change of mandate in October 2021 to 30 April 2022. It has been a testing period for most equity markets, but China has been particularly challenging and the trust’s NAV return was a dismal -21.5%. […]
The board of Round Hill Music Royalty Fund says that it welcomes the news that the US Copyright Royalty Board (CRB) III ruling has been upheld, allowing the royalty rates for songwriters and publishers to be paid at the increased headline rate of 15.1%, which comes into effect from 1 January 2022. The headline rates […]
In QuotedData’s morning briefing 5 July 2022: NextEnergy Solar Fund (NESF) has signed a two-year extension to its existing £70m revolving credit facility (RCF) with Santander UK. The revised facility comes with a margin of 160bps (1.6%) over SONIA, including an uncommitted option to extend the facility term for an additional twelve months if required. […]
Palace Capital will become a purely regional offices investor, focusing on ESG enhancements to create value. The company announced the move following a strategic review by the board as it wrestles with a wide share price discount to net asset value (NAV). The group said that it “intends to have a pure focus as an […]
Supermarket Income REIT has acquired two supermarket assets for a total of £82.9m, reflecting a combined net initial yield of 4.9%. It has purchased a Tesco superstore, M&S Foodhall and an Iceland in Chineham, Basingstoke, and an Asda supermarket in Carcroft, Doncaster. The 18.7 acre Chineham site has been acquired from Tellon Capital and comprises […]
Home REIT has acquired two portfolios of homeless accommodation properties for a total of £92.3m, its first deployment since its £263m equity issue in May 2022. The company has acquired 183 properties located across England for £84.9m, and in a separate transaction bought 33 additional properties for £7.4m. In total, these have added a further […]
Augmentum Fintech enjoys NAV uplift but share price suffers – Augmentum Fintech (AUGM) has posted its final results for the year to 31 March 2022, during which time its NAV per share after performance fee delivered 19%. However, the share price and total shareholder return, down by 16%, did not reflect the strong performance of […]
JPMorgan Global Core Real Assets boosted by private and liquid strategies – JPMorgan Global Core Real Assets (JARA) has posted its final results for the year to 28 February 2022. During the period its NAV increased by 12.9% while its share price return was down 8.9%, reflecting a discount to underlying NAV at which the […]
Octopus Renewables Infrastructure seeks shareholder approval to invest more in offshore wind farms – Octopus Renewables Infrastructure (ORIT) has published a circular containing details of proposed amendments to its investment policy and notice of a general meeting to be held on 28 July 2022. The company has proposed to seek shareholder approval to amend its […]
Hipgnosis Songs to receive withheld streaming revenues following US Copyright Royalty Board decision – Hipgnosis Songs (SONG) has welcomed the decision of the US Copyright Royalty Board (CRB) to disallow the appeal by various streaming services against the CRB III determination to increase mechanical streaming royalty rates for songwriters and publishers. The increase, which is […]
In QuotedData’s morning briefing 4 July 2022: ScotGems (SGEM) has decided to put forward formal proposals to shareholders for a members’ voluntary liquidation of the company. Such proposals, if approved, would provide all shareholders with a full cash exit less costs. This comes after the company received notice to terminate its AIFM from First Sentier […]
Having read the extremely alarming news that there is set to be an exodus of GPs, exacerbating existing shortages, I thought it would be worth looking at the likely impact on the two listed primary healthcare landlords – Assura and Primary Health Properties (PHP). According to reports, one in four GP posts are set to […]
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 Andrew McHattie covered the week’s top stories: • Chrysalis • Ashoka India Equity This week’s interview was with Andrew Beal of Schroder BSC Social Impact – watch it again […]
Polar Capital Global Financials suffers during ‘highly volatile year’ – Polar Capital Global Financials (PCFT) has posted its half-year results for the six months to 31 May 2022. During this time, its NAV was down 2.2% while its benchmark delivered 1.7%. The board said that the market environment in the first half of the company’s […]
Aberdeen New India to introduce conditional tender offer following underperformance – Aberdeen New India (ANII) has posted its full year results for the 12 months to 31 March 2022. During this time its NAV returned 11.2% while its share price total return was 3.7%. This compares with a 23.9% return from the MSCI India Index. […]
Templeton Emerging Markets reduces management fee – Templeton Emerging Markets (TEM) has confirmed that its management fee arrangements with Franklin Templeton Investment Trust Management Limited will change. The current annual management fee is 1% of net assets up to £1bn and 0.80% of net assets above that level. With effect from 1 July 2022, the […]
In QuotedData’s morning briefing 1 July 2022: BMO Private Equity (BPET) has changed its name to CT Private Equity, BMO Commercial Property has changed its name to Balanced Commercial Property, BMO Real Estate Investments has changed its name to CT Property Trust, and BMO Managed Portfolio has changed its name to CT Global Managed Portfolio. […]
Technology is making education more accessible and relevant. Thaiha Nguyen, an investment manager with Keystone Positive Change Investment Trust and the Baillie Gifford Positive Change Fund, explores the companies changing the way we learn. The value of an investment, and any income from it, can fall as well as rise and investors may not get […]
ICG Enterprise Trust has made two new direct co-investments and invested in a secondary portfolio on behalf of its shareholders. Precisely On 15 June 2022, the trust invested in Precisely alongside Clearlake Capital and Insight Partners, both leading US private equity managers. Precisely operates in the software sector and is a market leader in data […]
Chelverton UK Dividend Trust has published results covering the 12 month ended 30 April 2022. The underlying portfolio fell by 8.1%, beating the MSCI Small Cap Index, which fell by 15.2%. However, the fall is amplified by the gearing provided by the trust’s zero dividend preference shares. The net asset value per ordinary share fell […]
Chrysalis Investment’s interim results, covering the six months ended 31 March 2022, confirm the reduction in its NAV from 251.96p to 211.76p. Net realisations of about £33m were generated in the period. Incoming cash came from: the sale of Embark Group (£57m of proceeds), sales of Wise (£18m at an average price of 588p), and […]
SDCL Energy Efficiency Income Trust has announced its financial results for the year ended 31 March 2022. The NAV total return for the period was 11.2%. Earnings per share of 10p (up from 7p) comfortably cover a dividend of 5.62p (as does cash generated by the portfolio which covered the dividend 1.2x). The dividend target […]
Civitas Social Housing has reported a strong set of annual results for the year to 31 March 2022, posting a NAV total return of 7.0%. The group’s IFRS NAV increased to 110.3p per share (2021: 108.3p) following a 5.8% increase in the value of its portfolio to £968.8m. Dividends of 5.55p per share were paid […]
In QuotedData’s morning briefing 30 June 2022: Riverstone Credit Opportunities Income (RCOI) has realised its investment in Roaring Fork Midstream, crystalising a 21.3% IRR and 1.16x MOIC. The loan was made in March 2021, with a $5.9m first lien delayed-draw term loan to sponsor-backed Roaring Fork Midstream, a company which owns and operates pipeline and […]
DP Aircraft 1 to go ahead with $750,000 fundraising plan – Following its announcement in April this year, DP Aircraft 1 (DPA) has decided to proceed with plans for a fundraising through the issue of new ordinary shares by way of tap issuance. The tap issue will provide for the issue of up to 30,000,000 […]
