European Opportunities results overshadowed by Wirecard – European Opportunities has published results for the year ended 31 May 2021 and they don’t look good. Over the period, the trust returned 1.2% in NAV terms and 0.1% in share price terms. This compares to a return on the MSCI Europe Index of 24.6%. The dividend was […]
Better year for Gulf Investments but tender offer looms For the year ended 30 June 2021, Gulf Investment Fund generated an NAV return of 42.4%, very marginally less than the return on its benchmark S&P GCC Composite Index of 45.2%. A small narrowing of its discount meant that shareholders’ returns matched those of the index. […]
In QuotedData’s morning briefing 23 September 2021: Acorn Income has published a circular convening the meetings necessary to get shareholder approval for its plan to liquidate and offer investors a choice of cash or a rollover into an open-ended fund managed by Unicorn – the Unicorn UK Income Fund – this will be the default […]
Urban Logistics REIT has deployed £88m of the £109m it raised in July in six off-market transactions. The blended net initial yield (NIY) was 5.4% and is made up of a combination of income producing assets and forward funding commitments. Separately a further £15m was deployed before this equity raise, in three transactions. The manager […]
Another strong year for Pacific Horizon despite departure of long-standing manager – Pacific Horizon (PHI) has published its preliminary results for the year to 31 July 2021. The trust’s strong performance from the previous year has continued, with an exceptional NAV return of 61.3% and share price return of 59.2%. This compares with a 12.7% […]
In QuotedData’s morning briefing 22 September 2021: JPMorgan Smaller Companies (JMI) has changed its name to JPMorgan UK Smaller Companies with effect from today. Shareholders are unaffected by the change of name and existing share certificates should be retained and will remain valid. The manager of Tufton Oceanic Assets (SHIP), Tufton Investment Management, has announced […]
For the 12 months ended 30 June 2021, Murray Income returned 20.6% in NAV terms against 21.4% for the All-Share Index. The return to shareholders was 18.5% as the discount widened from 5.0% to 6.8%. However, since the period end the trust’s relative performance has improved. The dividend was increased marginally from 34.25p to 34.5p […]
The City of London Investment Trust has published results covering the year ended 30 June 2021. It just failed to match its benchmark over the period – returning 20.0% in NAV terms and 21.3% in share price terms against 21.5% for the All-Share Index. It also underperformed its peer group – the AIC UK Equity […]
Schroder UK Public Private saw its NAV rise by 16.1% to 40.65p over the six months ended 30 June. As we reported last week, the upcoming IPO of Oxford Nanopore could see this rise further. In the private equity portfolio two new investments were made into Tessian and Revolut. The portfolio had 34 holdings, 25 […]
In QuotedData’s morning briefing 21 September 2021: Workspace has sold 13-17 Fitzroy Street, London for £92m. The 92,700 sq ft property has been vacant since Arup moved out in June 2021. The sale price represents a 3.2% discount to the last valuation as at 31 March 2021 and a capital value of £993 per sq […]
Genesis speaks out on future of Emerging Markets fund ahead of of EGM to change manager and investment policy – Following the news in July that Genesis Emerging Markets would be appointing Fidelity as its new manager, implementing a new investment policy and other changes, the board has proposed a vote at an EGM, scheduled to take […]
All systems go at Gore Street Energy Storage with new acquisition, placing and retail offer – Gore Street Energy Storage (GSF) has announced a retail offer via PrimaryBid of new ordinary shares of 1p each at an issue price of 107p per new ordinary share. This represents a discount of approximately 7.8% to the closing mid-price of 116.0p on 17 September 2021 and […]
Supermarket Income REIT has acquired six supermarkets for a total of £113.1m, reflecting a combined net initial yield of 4.6%. Acquired from different vendors, the purchases consist of a Tesco in Prescot, two Morrisons in Durham and Cumbria, an Aldi in Oldham and an Aldi and M&S Foodhall site in Liverpool. The Tesco in Prescot, Merseyside […]
‘Recovery in fortunes’ continues for CQS New City High Yield – CQS New City High Yield (NCYF) has posted its annual financial report for the year to 30 June 2021. During the period under review, it delivered an NAV total return of 21.38% and a share price total return of 26.31%. The trust achieved a […]
Gresham House Energy Storage agrees five year debt facility after solid start to 2021 – Gresham House Energy Storage (GRID) has agreed a new five year £180m debt facility with a syndicate of banks including Commonwealth Bank of Australia, Lloyds Bank, NatWest and Santander. The facility comprises a £150m capex term facility and a £30m […]
In QuotedData’s morning briefing 20 September 2021: Ecofin US Renewables Infrastructure (RNEW) has completed its acquisition of Echo Solar Portfolio’s largest asset, which it signed an agreement to acquire in July. The portfolio includes 12 solar photovoltaic projects, which are at construction stage and are expected to be completed and to commence operations in phases […]
QuotedData’s weekly news show 17 September 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: GCP Asset Backed Income Schroder UK Public Private Apax Global Alpha This week’s interview was with Robin Parbrook […]
Interim results tend to be quite placid affairs – giving a good update on performance and market commentary but not much else. This week, however, property development specialist Harworth Group bucked the trend by outlining its intentions to double in size to more than £1bn over the next five to seven years. Chief executive Lynda […]
As we discussed in Friday’s news show, it has been a good week for private equity investors. Hg Capital said it had sold its investment in supply chain management software company Achilles at a 20% premium to its last valuation, adding 0.9% to NAV. Apax Global Alpha announced an 89% uplift in the value of […]
JPMorgan Mid Cap has announced its annual results for the year ended 30 June 2021, which show that it had a bumper year of outperformance that was derived from a number of sources. During the year, JMF says that its benchmark, the FTSE250, provided a total return of 36.7%, while JMF’s NAV total return for […]
NextEnergy Solar Fund (NESF) has announced that it has into a £100m joint venture partnership (JVP) with Eelpower Limited, a leading battery storage specialist in the UK. The joint venture partnership is targeting the establishment of up to 250MW in projects with £100m in invested capital and has already signed its first acquisition of a […]
SDCL Energy Efficiency Income (SEIT) has announced that it has raised £250m from its oversubscribed issue, reflecting a strong level of support from both institutional and retail investors. Given the level of demand and the company’s acquisition pipeline, the Board has decided to increase the target size of the Issue from gross proceeds of £175 […]
In QuotedData’s morning briefing 17 September 2021: Middlefield Canadian Income has released its interim results for the six months ended 30 June 2021, during which it generated an NAV total return of 26.5% and a share price total return of 23.3% (its share price also reached a record high in June). Surprisingly, the announcement doesn’t […]
HDIV shareholders approve changes – Henderson Diversified Income Trust says shareholders have approved changes to the investment objective and policy, a replacement benchmark and new Articles of Association (the latter point allows the holding of virtual and/or hybrid GMs/AGMs along with some other minor administrative changes). All of these changes are effective immediately. The new […]
Schroder UK Public Private to benefit from Oxford Nanopore IPO? – Schroder UK Public Private has highlighted that its portfolio company Oxford Nanopore Technologies Limited has today filed notice of its intention to float. As part of the potential IPO, it is expected that the company will include a limited secondary offer of £300m, half […]
Apax hails Thoughtworks IPO – The Apax IX Fund, in which Apax Global Alpha is a limited partner, is an indirect shareholder in Thoughtworks, a global technology consultancy that integrates strategy, design and engineering to drive digital innovation. Following Thoughtworks’ announcement on the 14 September 2021 of the pricing of its initial public offering of common […]
In QuotedData’s morning briefing 16 September 2021: GCP Asset Backed Income says that on 15 September 2021 certain entities within what it terms “the Co-living Group” were placed into administration. We highlighted the fund’s problems with this loan on Monday. GCP Asset Backed Income, its co-lenders and an operator have formed a syndicate to fund […]
Tritax EuroBox has announced the forward funding of a new logistics asset near Stockholm, Sweden, for €27.9m. The deal marks the company’s second acquisition in Sweden. The 13,181 sqm logistics facility, located just north of Stockholm, consists of two separate units of 8,204 sqm and 4,977 sqm, which will be constructed between November 2021 and December […]
Good performance for The Investment Company following portfolio turnaround – The Investment Company (INV) has published its full-year results for the year ended 30 June 2021. During the period, its NAV per share increased by 8.28% while its share price was up 11.96%. The discount widened from 9.43% to 12.41% over the year. Following the […]
Round Hill Music acquires catalogue from Pearl Jam producer – Round Hill Music Royalty (RHM) has acquired recorded music income and publishing rights to 30 songs from Tim Palmer, an English record producer, guitarist and songwriter of rock and alternative music. The catalogue covers tracks from the debut Pearl Jam album “Ten”, which sold over […]
