In QuotedData’s morning briefing 6 August 2021: JPMorgan Claverhouse (JCH) has published its interim results for the six months ended 30 June 2021. The managers say that the portfolio performed well over the period, benefitting from a significant exposure to stocks geared into the nascent economic upturn. During the period, JCH provided an NAV total return […]
Apax funds see hefty gains over Q2 – Apax Global Alpha holds a portfolio of private equity funds and derived investments (equity and debt positions in companies that the Apax team knows well). This morning, Apax Global Alpha posted valuation statements for each of the underlying Apax funds that it holds. We think that there […]
Pantheon benefits from substantial discount narrowing – for the year ended 31 May 2021, Pantheon International posted an NAV return of 19.6% but shareholders got a return of 31.7% as its discount narrowed considerably. The share price returns were ahead of the UK market but about 5.9% behind those of the MSCI World Index (which […]
In QuotedData’s morning briefing 5 August 2021: JPEL Private Equity is returning $85m to investors – using cash it had on its balance sheet and the proceeds of its sale of Swania International. Effectively, this will mean the compulsory redemption of about 42.5m JPEL shares, about 51.5% of the company. The redemption price is based on […]
Standard Life Investments Property Income Trust (SLI) has reported a 3.5% jump in net asset value (NAV) in the quarter to 30 June 2021, as the property market continues to bounce back from the impact of COVID. The increased in NAV, to 88.3p per share, was due to a 3.3% like-for-like rise in the value […]
Custodian REIT (CREI) is in discussion over a possible securities exchange offer for the entire issued share capital of Drum Income Plus REIT (DRIP). The possible offer is at a ratio of 0.535 CREI ordinary shares for each DRIP ordinary share, giving an implied value for the entire issued and to be issued share capital of DRIP […]
Another year of outperformance for Henderson Smaller Companies – Henderson Smaller Companies (HSL) has posted its annual report for the year to 31 May 2021. During the year, it delivered a NAV total return of 58.5% and a share price total return of 69.3%, outperforming both its Numis Smaller Companies Index benchmark and the AIC […]
In QuotedData’s morning briefing 4 August 2021: One of Schroder British Opportunities’s (SBO) private equity holdings, Rapyd, has completed a $300m Series E funding round. The global Fintech as a Service company had recently acquired Valitor, a European payments and card issuing company and also launched a venture arm. The additional funds will enable Rapyd to […]
Great results from BMO Managed Portfolio – over the year ended 31 May 2021, BMO Managed Portfolio’s growth and income pools both beat the UK market. The Income pool delivered an NAV return of 29.0%, beating the UK market by 5.9% and the Growth pool returned 32.5%, beating the UK market by 9.4%. The dividend […]
In QuotedData’s morning briefing 3 August 2021: Vietnam Holding (VNH) proposes to hold a tender for up to 30% of its issued share capital. To be eligible to participate, shareholders must have owned the share on 2 August. Shareholders will be asked to approve the tender at a meeting scheduled for 31 August 2021 and payment […]
Allianz Technology hit by market rotation from growth to cyclical stocks – Allianz Technology (ATT) has posted its interim report for the six months to 30 June 2021. During the period, it achieved a 7% NAV increase though its share price was down by 0.8%. Meanwhile, the Dow Jones World Technology index was up 13.9%. […]
RIT Capital Partners enjoys new all-time high NAV numbers – RIT Capital Partners (RCP) has published its results for the half-year to 30 June 2021. During this time, the company enjoyed a 19.1% uplift in NAV, resulting in a new all-time high NAV per share of 2,711 pence. Meanwhile, the share price increased by 18.5% […]
Unlisted name is Fidelity Japan’s ‘standout contributor to performance’ – Fidelity Japan (FJV) has released its interim results for the six months to 30 June 2021, during which time its NAV rose by 2.3% and its share price was up 2.5%. The company said this reflects the fact that the discount narrowed marginally to 6.6% […]
In QuotedData’s morning briefing 2 August 2021: Cordiant Digital Infrastructure (CORD) has decided not to invest in one of the European data centre platforms previously identified in its pipeline due to pricing considerations. It said, in certain instances, processes have been slowed as a result of unforeseen developments on the vendor side. The pipeline continues to evolve and […]
Only a month ago, I was enthusing about funds investing in unquoted Chinese stocks. I finished up though by saying “If I had to pick a reason why the boom in interest in Chinese stocks might lose momentum, it’s politics.” As I discuss below, that prediction came to pass just days later. However, one management […]
Aberdeen Emerging Markets (AEMC) and Aberdeen New Thai (ANW) have announced a comprehensive set of proposals that, in the case of AEMC will see it change its investment policy from one of investing in emerging markets on a fund of funds basis to investing directly in the equities of Chinese companies, a merger between the […]
In QuotedData’s morning briefing 30 July 2021: Premier Miton Global Renewables (PMGR) has released its interim results for the six months ended 30 June 2021, during which it provided an NAV total return of 4.9% and a share price total return of 8.4%. Its total assets return was 4.2% and so the superior performance of the […]
EPE Special Opps backs British homeware brands – EPE Special Opportunities Limited says that on 28 July 2021, ESO Investments 1 Limited (which is 100% owned by the company) bought a majority stake in Hamsard 3634 Limited. Hamsard is a recently incorporated holding company which now owns a collection of six heritage British homeware brands, including […]
INPP closes on Beatrice OFTO project – International Public Partnerships (INPP) says that Transmission Capital Partners, the consortium comprising INPP, Amber Infrastructure Group and Transmission Investment, has successfully reached financial close for the long-term ownership and operation of the transmission link to the 588MW Beatrice offshore wind farm (the OFTO), Scotland’s largest operational offshore wind farm. […]
In QuotedData’s morning briefing 29 July 2021: Chrysalis Investments (CHRY) has sold its stake in Embark Group to Scottish Widows, part of Lloyds Banking Group for £390m. Existing shareholders of Embark, including Chrysalis, will retain its Rowanmoor SIPP and SSAS administration business. Chrysalis first invested in Embark in July 2019 and invested further follow-on capital in May 2020. […]
HydrogenOne Capital Growth launches but fails to hit £250m target – HydrogenOne Capital Growth (HGEN) has raised gross proceeds of £107.35m through its the placing, offer for subscription and intermediaries offer of ordinary shares as set out in its prospectus published ahead of its IPO. The net proceeds of the issue are expected to be approximately […]
AIC appoints former Share Centre chief exec Richard Stone as new head following Sayers’ departure – The Association of Investment Companies (AIC) has appointed Richard Stone as its chief executive, effective from 13 September 2021. He replaces Ian Sayers, who will stay at the organisation for a brief handover period before stepping down in October. Stone was chief […]
In QuotedData’s morning briefing 28 July 2021: Literacy Capital (BOOK) has acquired a majority stake in OFJ Spring Topco Limited, the holding company for Oxygen Freejumping, which is an operator of trampoline and adventure parks in the UK, with four sites in England. The investment will provide Oxygen Freejumping with fresh capital enabling the business to […]
RTW Venture backs Artios Pharma – RTW Venture says it participated in Artios Pharma’s $153m series C funding round. The oversubscribed financing was co-led by Omega Funds and TCG X. Additional investors include Avidity Partners, Invus, Deep Track Capital, Sofinnova Partners, Tetragon Financial Group, Soleus Capital, Piper Heartland Healthcare Capital, CaaS Capital Management, and Schroders Capital. […]
In QuotedData’s morning briefing 27 July 2021: HICL Infrastructure has reaffirmed its 8.25p dividend target for the year ended 3 March 2022. traffic volumes on its toll roads are recovering but international traffic on High Speed 1 (the Channel tunnel rail link) is running at 15% of normal levels. The company says that discussions with lenders […]
NewRiver REIT has sold its pub business, Hawthorn Leisure REIT, to Admiral Taverns for £222.3m. The group had announced it was looking to divest the pub business in April 2021, and will use the proceeds to strengthen its balance sheet and reduce its loan to value (LTV) to below 40%. The sale of Hawthorn, which […]
In QuotedData’s morning briefing 26 July 2021 F&C (FCIT) has released its interim report for the six months to 30 June 2021. During this time the NAV total return was 12.3%, ahead of the FTSE All-World index which returned 11.1%. However, the company’s share price total return was slightly behind, at 8.3% – which the board […]
QuotedData’s weekly news show 23 July 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: Pershing Square Ecofin US Renewables Watch it again here This week’s interview was with Gareth Powell of Polar Capital Global […]
The Tokyo Olympics are underway. The games have been controversial in Japan, largely because of fears that they will accelerate the current wave of COVID-19 cases affecting the country. The opening ceremony played to a near-empty stadium and spectators are barred from events in Tokyo as a state of emergency is in force in the […]
Prime minister Boris Johnson’s ‘levelling up’ agenda aims to give a much-needed shot in the arm for regional locations in the UK. Several property trusts could also be beneficiaries. The plan involves investing in transport, skills and businesses, mainly in the north of England, to address the north-south economic divide. Although thin on detail (more […]
