QD view – warm fuzzy feelings? Alphabet soup time ESG (environmental, social and governance) comes up a lot in the investment world currently. There are good reasons for that. The UK government said last year that it wants to make climate-related disclosures mandatory, in line with recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). […]
In his final annual review as joint manager of Scottish Mortgage Investment Trust, James Anderson reflects on the challenge and excitement of the search for extreme returns. Anticipating greater change to come, he urges investors to keep thinking distinctively. “After many years of anodyne reviews perhaps some bluntness is permissible in this final and twenty […]
In what could be the first domino to fall, Aviva decided to wind up its open-ended property fund, more than a year after it suspended dealing in the fund. What does this mean for the future of open-ended property funds? One option that doesn’t end in the liquidation of the fund but still gives investors the chance to exit, is to […]
A 2020 vintage investment for Switzerland’s BB Biotech has turned out to be one of the highest profile victims of the stock price moves occasioned by the ASCO abstract release earlier this week. Black Diamond Therapeutics (Nasdaq: BDTX) saw its shares fall by 37% yesterday after early-stage results of its lead compound BDTX-189 – although […]
Asset Value Investors, the managers of AVI Japan Opportunities (AJOT) has announced that it has submitted what it describes as “modest proposals to SK Kaken as a test of company’s motivation to improve performance and share price”. AVI says that its proposals aim to address, at no cost to SK Kaken, some of the factors […]
Capital Gearing (CGT) has announced its annual results for the year ended 5 April 2021, which its chairman, Jean Matterson, describes as “another year of very acceptable returns”. To illustrate, during the year, CGT provided an NAV total return of 13.9% and a share price total return of 13.6%. While CGT does not set out […]
Schroder British Opportunities (SBO) has announced that it made an investment into the EPIC I-b Fund SLP, a single asset fund managed by Castik Capital, which has acquired a majority stake in Waterlogic Group Holdings Limited, a leading global provider of purified drinking water dispensers, headquartered in the UK. Who are Waterlogic? Founded in the […]
In QuotedData’s morning briefing 21 May 2021: Ecofin Global Utilities and Infrastructure (EGL) has announced its interim results for the six months ended 32 March 2020. During the period, EGL provided NAV and share price total returns of 13.5% and 16.1% respectively, thereby outperforming the MSCI World Utilities Index and S&P Global Infrastructure Index, which returned […]
Securities Trust of Scotland reports on ‘eventful year’ with significant gains – Securities Trust of Scotland has announced its results for the year ended 31 March 2021, in which the net asset value total return was 28.5%, a significant increase on the previous year’s 8.3%. The share price total return also rose from 2.7% to […]
Lindsell Train Investment Trust optimistic on drinks sector recovery – Nick Train, manager of the Lindsell Train Investment Trust, has shared a portfolio update highlighting the impact the coronavirus pandemic has had on the performance of his beverage holdings, but that a recovery may well be underway now as the global economy starts reopening. Of […]
JPMorgan Japanese (JFJ) has announced its interim results for the six months ended 31 March 2021, during which it underperformed its benchmark, which can be primarily attributed to the market rotation in favour of companies expected to benefit from a recovery in economic activity, facilitated by the vaccine rollout. During the period, JFJ provided a […]
City Merchants High Yield to acquire £130m from Invesco Enhanced Income – The board of City Merchants High Yield has announced it will acquire approximately £130.2m of net assets from Invesco Enhanced Income in relation to the merger of the two trusts, announced earlier this year. 66,836,392 are to be issued, which was calculated on […]
In QuotedData’s morning briefing 20 May 2021: Fidelity Asian Values has announced that Kate Bolsover has been appointed as a non-executive director and senior independent director of City Merchants High Income. JPMorgan China Growth & Income has issued a further 50,000 ordinary shares for cash at 836 pence per share under its ordinary share block listing […]
LondonMetric Property has acquired an urban logistics warehouse in London for £43.8m in a sale-and-leaseback deal. The 115,000 sq ft warehouse in Waltham Cross is let to Reynolds, a national foodservice business, on a new 23-year lease with the benefit of CPI+1 linked rent reviews of between 2% and 4%. The property generates a […]
JZ Capital Partners (JZCP), which has investments in US and European micro-cap companies, as well as real estate properties in the US, announced annual results to 28 February 2021. Its NAV fell from $4.60 at 31 August 2020 (the interim period end) to $4.25, as at 28 February 2021. The NAV stood at $6.14, as at 29 February […]
In QuotedData’s morning briefing 19 May 2021 – Barings Emerging EMEA Opportunities (BEMO) first-half results period to 31 March 2021 saw it complete its transition from a Russia and hydrocarbon-focused Central and Eastern Europe fund to one including the Middle East and North Africa (MENA), and Sub-Saharan Africa regions. Russia is now BEMO’s number two […]
Tritax EuroBox’s dividend has been hiked 13.6%, as it continues to grow its portfolio of logistics assets in continental Europe. The group reported strong half-year results to 31 March 2021 in which dividends declared in the period rose to 2.50 euro cents from 2.20 cents. This was off the back of a jump in earnings – […]
Warehouse REIT has completed the acquisition of Cambridge South Industrial Estate for £20.15m, reflecting a net initial yield of 4.15%. The scheme, which comprises 68,000 sq ft across 13 newly built multi-let industrial units and an adjacent development site, is located on the wider Dales Manor Business Park, just seven miles south of Cambridge city centre, six […]
JLEN invests in Italian waste-to-energy plant – JLEN Environmental Assets Group has bought a 45% equity stake in Energie Tecnologie Ambiente S.r.l. (ETA). ETA is a 16.8MW energy-from-waste power plant. The plant processes refuse derived fuel (RDF) and is located in the municipality of Manfredonia, in the Apulia region of southern Italy (website, in Italian, here). […]
In QuotedData’s morning briefing 18 May 2021: Syncona highlights results from one of its holdings – Freeline. Its chief executive says they are encouraged by the progress seen in patient identification and screening in its FLT190 Phase 1/2 dose-finding trial for the treatment of Fabry disease; they are advancing their FLT201 programme for the treatment of Gaucher […]
Acorn Income (AIF) has concluded its strategic review and, having received strong interest from a number of managers, has proposed to recommend the appointment of BMO Global Asset Management (BMO) as its manager, and the adoption of a new investment objective and policy. The strategic review had been announced on 21 April, and you can access […]
Cordiant Digital Infrastructure (CORD) is launching a placing of C shares to enable it to complete acquisitions from its pipeline of digital infrastructure investments, specifically certain transactions where due diligence is well advanced. ‘Advanced stage negotiations over potential transactions worth around £800m’ CORD released the following as key highlights: Advanced pipeline – CORD‘s pipeline of further high […]
In QuotedData’s morning briefing 17 May 2021 – Baillie Gifford European Growth’s (BGEU’s) interim results to 31 March 2021 brought a total NAV return of 8.7%, which it says compared with a total return of 12.2% for the FTSE Europe ex UK index, in sterling terms. BGEU#s shareholder return over the same period was 11.7%. […]
QuotedData’s weekly news show 14 May 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: RM Secured Direct Lending set for a name change as social & environmental focus intensifies Aquila Energy Efficiency […]
There seems to be a bit more activity in the new issue market for investment companies. We have seen the announcement of intentions to float from Taylor Maritime, Liontrust ESG and Aquila Energy Efficiency. This week, I got to meet the people behind the Aquila fund. £150m target Aquila is aiming to raise £150m from […]
After months of delays, the debut listing on the world’s first real estate stock exchange took place on Friday (May 14) – but probably not to the fanfare it was hoping for. Mailbox REIT, owner of the Mailbox office complex in Birmingham, was floated on the International Property Securities Exchange (IPSX) after raising £25.85m – […]
The debut listing on the world’s first real estate stock exchange has taken place today. Mailbox REIT, which owns the Mailbox office block in Birmingham, began trading on the International Property Securities Exchange (IPSX) this morning. The company, set up by M7 Real Estate, issued 84,850,000 shares, which have been admitted to trading on the […]
Apax Global Alpha (AGA) has announced that Global-e has completed its IPO and started trading on the Nasdaq Global Select Market, which based on the closing price on 12 May 2021 has led to an uplift of approximately 0.9% of AGA’s Adjusted NAV (or €0.02 per share) at 31 March 2021. The IPO was a […]
Apax Global Alpha (AGA) has announced Apax X, in which it holds a limited partnership interest, has signed an agreement to acquire a majority ownership stake in Nulo, which it describes an ultra-premium pet food company. The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions. Aga says […]
In QuotedData’s morning briefing 14 May 2021: John Laing Group has announced that all necessary approvals have now been obtained for the availability-based Colombian road PPP project Pacifico 2 and that it has achieved financial close on its purchase of the 21.15% interest in Pacifico 2 it has acquired from Construcciones El Condor. This transaction completed […]
