Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).
In QuotedData’s other news 19 March 2020 – Alcentra European Floating Rate Income (AEFS) said its top performing credits for in February were names that had been weaker in prior periods but saw improved outlook and traded higher in the period. The top credit, a pharmaceutical company, traded +4.6% higher after the company was refinanced and […]
SQN Asset Finance Income (SQN) made the following announcement with respect to the declaration of further dividend payments. “In light of the ongoing uncertainty in economies and markets, the board of the company resolved today to suspend the declaration of further dividend payments on both the ordinary and C share classes until further notice. In […]
Ashoka India Equity Investment (AIE) released the following update: “Over the past few weeks, Indian equity indices have seen a sharp correction due to a confluence of factors such as the Central Bank taking control of affairs at Yes Bank, and most significantly, the continuing spread of covid-19 globally. The Indian markets have corrected by […]
Princess Private Equity (PEY) has entered into an extension of the term and increase in the size of its senior revolving credit facility with Lloyds Bank. The previous facility of EUR 50m was due to expire on 14 December 2020. The facility will be increased to EUR 80m and the term extended to 13 December 2024. […]
VietNam Holding (VNH)’s total return NAV grew up by 2.0% over the six-month interim period to 31 December 2019 – this was in line with the Vietnam all share index. Over the ten-year period ending 31 December 2019 the NAV increased by 6.7% per annum, compared to a 2.8% per annum increase in the Vietnam All […]
Warehouse REIT, the UK REIT that invests in and manages urban and ‘last-mile’ industrial warehouse assets in the UK, has suspended its fund raise amid the current market uncertainty caused by Covid-19. The company announced on 17 February that it intended to raise up to £100m through a placing, with a general meeting arranged for […]
In QuotedData’s other news 18 March 2020 – Perpetual Income and Growth (PLI) said it has amended its bank facilities, with effect from 16 March 2020. They now comprise an uncommitted bank overdraft facility of £60m (previously £80m) and uncommitted bank loan facility of £40m (previously £60m). Both are repayable on demand. The covenants under […]
Over Baillie Gifford Shin Nippon’s (BGS) annual results period to 31 January 2020, NAV per share rose by 8.9% compared to a 9.5% rise in the comparative index (MSCI Japan small cap index). The share price fell by 0.5% as the shares moved from a premium of 8.0% to a discount of 1.4%. BGS said that in […]
Company update from Amedeo Air Four Plus (AA4): “Further to the announcement on 12 March 2020, the board notes the news that almost all airlines globally have been severely impacted by the reduction in passenger traffic as a result of covid-19 and understands that many Governments, banks and lessors have received approaches from these airlines […]
US Solar (USF) has released maiden annual results. The company launched last April with a $200m raise, primarily from UK institutional investors. Highlights to 31 December • Strong progress since IPO with three US solar project or portfolio acquisitions announced; • Acquisition one: 128 MWDC in-construction solar project in Milford, Utah, with a 25 year power […]
Tritax Big Box REIT reported a 7.7% increase in operating profit in 2019. The group, which owns a portfolio of ‘big box’ logistics warehouses in the UK, said profit for the year ended 31 December 2019 was £122.5m compared to £113.7m in 2018. It also said its contracted annual rent roll was up 3.4% to […]
Infrastructure India (IIP) has released the following update with respect to its largest holding, Distribution Logistics Infrastructure Limited (DLI), and covid-19. “During the first quarter of the calendar year, DLI performed well, with increased revenue and lower quarter on quarter costs and timely project completion. Construction at Nagpur, including a private freight terminal and additional warehousing, […]
In QuotedData’s other news 17 March 2020 – Montanaro UK Smaller Companies (MTU) announced a change in its auditor and its board committee structure. The board has approved the proposed appointment of BDO as auditors for the financial year ending 31 March 2021. The appointment will be recommended to shareholders for approval at MTU’s next AGM in July […]
Globalworth Real Estate Investments (GWI), a leading office investor in Central and Eastern Europe, announced changes to the company’s board and an update regarding the COVID-19 outbreak. Board changes Ioannis Papalekas, the founder, is stepping down from the board with immediate effect but will remain as CEO of the company. Dimitris Raptis, the current chief investment […]
JPMorgan European Smaller Companies (JESC) announce that, following a review, its management fee arrangements with JPMorgan Funds Limited will change. Effective 1 April, 2020 the annual management fee, currently 1.0% per annum on net assets up to £400m and 0.85% on net assets over £400m, will be charged at an amended annual rate of 0.85% of […]
Global sector company, F&C (FRCL), has reported its annual results to 31 December 2019. The company’s growth and income mandate is carried out through investments in public market, unquoted investments and private equity. With a market cap above £3bn, it is among the largest closed-end investment companies and was the first investment trust to launch, […]
JZ Capital Partners (JZCP) has said that in light of the covid-19 outbreak, the previously announced US secondary sale has been delayed. Whilst the duration and impact of COVID-19 is uncertain at this time, the company remains committed to its strategy of realising value from its investment portfolio including via the secondary sale, and to […]
CVC Credit Partners European Opportunities (CCPE/CCPG) has released this update: “Following our 2nd March note addressing the initial impact of the Coronavirus outbreak, global credit markets have continued to experience significant volatility in the past weeks, driven by (i) the continued expansion of the coronavirus epidemic on a global scale, and (ii) the break-up of […]
In QuotedData’s other news 16 March 2020 – RDL Realisation (RDL) provided the following update on the Princeton fund: “on Friday 13 March 2020, the United States bankruptcy court entered an order confirming the Fifth Amended Chapter 11 Plan proposed by the Chapter 11 Trustee in the Princeton alternative income fund bankruptcy case. The plan was […]
In light of cov-19, it has been announced this afternoon that Master Investor, the UKs largest private investor show, has been moved to Saturday 5 December 2020. The event was originally scheduled for Saturday 28 March 2020. Click on the following link for more information: https://quoteddata.com/events/master-investor-uks-largest-private-investor-show/
From time-to-time, QuotedData’s analysts meet a wide range of companies that aren’t clients of our sponsored research service. We figure it makes sense to share some of our thoughts on these companies with you. Here are some observations from a recent capital markets day hosted by Augmentum Fintech (AUGM), at Plaisterers’ Hall, One London Wall. AUGM […]
US Solar (USF) announced it has closed the acquisition of 100% of the cash equity interests in a portfolio of twenty-two operating utility-scale solar power projects totalling approximately 177MWDC in North Carolina, Oregon, and California. USF announced signing of the binding transaction on 29 January 2020 with closing subject to customary conditions and consents which have now […]
Part of the European smaller companies sector, European Assets (EAT) has released its annual results to end-December 2019. In sterling terms, the share price and NAV total returns came in at 25.7% and 19.8%, with stock selection driving performance (sector allocation detracted slightly). The best performance came from ASM International, the Dutch listed semiconductor equipment supplier, […]
Aberdeen Smaller Companies (ASCI), which invests in UK smaller companies, has reported annual results to 31 December 2019. The company’s performance in NAV and share price terms, as well as that of its benchmark, is shown below: NAV total return FTSE Small Cap ex Inv Trust Index total return Share price total return 2019: +34.4% […]
JPEL Private Equity (JPEL) announced a partial sale in JPEL’s 2nd largest portfolio company, a tax advisory services company. At 31 December 2019, the company represented 18.7% of JPEL’s private equity portfolio value. The partial realisation results in an investment return of approximately 4.39x and an IRR of approximately 33% for JPEL. As part of the transaction, JPEL […]
Secure Income REIT reported a 7.6% increase in net asset value (NAV) in 2019. The group, which owns a £2.1bn portfolio of long-let property, said NAV per share grew to 431.1p in 2019 as the like-for-like value of the company’s portfolio rose by 4%. The growth helped Secure Income REIT deliver a total shareholder return […]
Alcentra European Floating to wind up – The board of Alcentra European Floating Rate Income Fund says that, following its March 2020 tender offer, it has conducted a comprehensive review of the outlook for the company. This review, conducted in consultation with the investment manager and broker, has been undertaken in tandem with extensive shareholder […]
In QuotedData’s other news 12 March 2020 Markets dive following EU/US travel ban Volta Finance is engaging with the shareholders that voted against the re-election of its directors back in December 2019. 37% of votes were cast against these resolutions. Volta says it is not sure why. Ruffer says its NAVs might be slightly misleading because […]
2019 was a fantastic year for Oakley shareholders – a 25% return on NAV translated into a 56% return to shareholders as the discount narrowed significantly. The underlying portfolio companies generated EBITDA growth of 30% and the earnings growth helped push valuations higher. Two exits were made – WebPros was the major driver – we […]
Primary Health funding new doctor’s surgery in Epsom – Primary Health Properties has contracted with a developer to fund the fitting out of a doctors’ surgery within a modern residential development in the centre of Epsom, Surrey. The company will acquire the long leasehold interest of the property on completion of the work for a total […]
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