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).
Nippon Active Value IPOs with £103m – the trust had been hoping for £200m but, after a small delay, managed to get to £103m, which the board felt was enough to get going. The trust is competing in the listed space with AVI Japan Opportunity but, in practice against a large range of well-resourced hedge […]
Supermarket Income REIT has acquired a Sainsbury’s store in Hessle, East Riding of Yorkshire, for £34m, reflecting a net initial yield of 5.5%. The 50,000 sq ft store is let to Sainsbury’s on an unexpired lease term of 14 years with annual inflation-linked uplifts. As well as the 1980s-built supermarket, the site 13-acre site also […]
A great year for Herald shareholders – over 2019, investors in Herald Investment Trust made returns of 37.7%. 27.5% of that came from the NAV return and the rest from a narrowing of the trust’s discount from 17.8% to 11.3%. The report says that over the same period the Numis Smaller Companies Index (of UK […]
In QuotedData’s other news 19 February 2020 JPMorgan Japan Smaller (JPS) is cutting its management fee – from 1st April 2020, the fee will be charged at 1% on the NAV up to £150m and 0.75% (previously 0.80%) thereafter. Additionally, the £200,000 a year company secretarial fee will be removed from the same date. This is estimated […]
Jupiter UK Growth (JUKG) has announced that an agreement has been reached with Richard Buxton to take the reins as lead manager of the trust. Richard will be supported by Errol Francis and Ed Meier, who the company notes have worked with Richard over many years. We wrote on JUKG’s poor performance last October (click here […]
In QuotedData’s other news 18 February 2020 – FastForward Innovations (FFWD) said that investee company, EMMAC Life Sciences (FFWD owns a 2.4% stake), had become the first European company to export medical cannabis to Israel. The company has successfully exported 400 kilograms of medical cannabis to Israel, to the Bazelet Group, the largest medical cannabis company in Israel. […]
Renewables Infrastructure Group (TRIG) has announced annual results covering the period to 31 December 2019. Performance and portfolio highlights include: Portfolio generated 3,036GWh of electricity in the year (2018: 2,011GWh) NAV per ordinary share of 115.0p as at 31 December 2019 (2018: 108.9p) Directors’ portfolio valuation of £1,745m as at 31 December 2019 (2018: £1,269m) following new acquisitions […]
LXI REIT (LXI), the specialist inflation-protected very long income REIT, has announced the following profitable disposal and accretive acquisition. Disposals bring in £6.8m Following receipt of an unsolicited approach, the company says it has sold a bus storage facility in Yardley Wood, near Birmingham, let to National Express Group PLC on a long lease, to […]
Warehouse REIT is weighing up an equity raise having identified a pipeline of acquisitions worth £352m. The AIM-listed company, which invests in and manages urban and ‘last-mile’ industrial warehouse assets, and its investment adviser Tilstone Partners is in exclusive negotiations to buy £72m worth of assets and is in detailed negotiations on a further £280m. […]
Global Sustainable Farmland emphasis on the sustainable – QuotedData’s James Carthew wrote an article on this new IPO a couple of weeks ago but on Friday he got to meet the people behind the fund, which is looking to raise up to $300m and is targeting returns of 7% to 8% a year with dividends […]
In QuotedData’s other news 17 February 2020 GCP Asset Backed Income has earned £1m from an early repayment fee as loans it had made that were secured against two co-living properties were repaid – the £49m freed up was immediately redeployed as £53m was lent to the same borrower. The new loan totals £140m (with the […]
Summit Properties tender and AIM exit – Summit Properties is holding a tender offer for a third of its shares (148,275,862 shares) at €1.45 a share. The EPRA NAV at the end of September was €1.68 and it looks as though that might have risen since so the tender is being carried out at at […]
In QuotedData’s other news 15 February 2020 Urban Logistics REIT has raised £130m via a placing of 94,545,455 new shares to investors at 137.5p. This is well in excess of the £100m it was after. It has also left room to raise an additional £12m from investors in the EU. Pre-existing investors have the opportunity to […]
Urban Logistics REIT has raised £130m through an over-subscribed placing. The result of the placing was significantly in excess of the target size of £100m. A total of 94.5 million shares in the company have been conditionally placed with new and existing investors at 137.5 pence per share. Urban Logistics REIT executive directors Nigel Rich […]
The UK’s largest listed property company SEGRO reported an 8.9% uplift in its net asset value (NAV) for 2019, alongside a 10.1% jump in its dividend. In full-year results to the end of December 2019, the industrial property specialist revealed a NAV per share of 708p, up from 650p a year earlier. Meanwhile the full […]
In QuotedData’s other news 14 February 2020 Shareholders approved JPMorgan Asia’s change of name to JPMorgan Asia Growth and Income. The ticker becomes JAGI. GCP Infrastructure has confirmed that Clive Spears retired as a non-executive director at its AGM. Ian Reeves CBE, the chairman, commented, “I would like to thank Clive for his invaluable support, dedicated […]
Grainger, the UK private rented housing specialist, has raised £186.7m from a placing. A total of 61.2m new shares in Grainger were placed at a price of 305.0 pence per share, representing a discount of 2.31% to the closing price on 12 February 2020. Including additional debt of around £120m based on company’s LTV target range, the […]
Grainger, the UK’s largest listed provider of private rental housing, has announced it is seeking to raise around £185m from a placing. The group is placing up to 61.2m shares, which represents 9.99% of its shares, and including additional debt of around £120m based on company’s LTV target range, it will generate aggregate funding capacity […]
Syncona’s Freeline trials encouraging – Syncona has nine investments in companies addressing a range of diseases, including many that are currently untreatable. QuotedData’s analyst, James Carthew, wrote an article about the company recently which explains a bit about how Syncona goes about investing in these businesses. One of these, Freeline, is using gene therapy to […]
Aberdeen Emerging did well last year – over the year ended 31 October 2019, it generated a NAV return of 14.1% against 10.1% for the MSCI Emerging Markets Index. The return to shareholders was 13.2%. Dividends totalling 21p were paid out for this year and the board intends to pay at least 22p for the […]
Good start for AVI Japan Opportunity – the first annual report for AVI Japan Opportunity covers the period from its incorporation on 27 July 2018, through its launch on 23 October 2018 and to 31 December 2019. The trust’s NAV return over this period was 14.3%, well ahead of the 7.9% return generated by the MSCI […]
Despite lagging its benchmark over the year to 31 October 2019, there was strong demand for BlackRock North American shares. Over the year to 31 October 2019, the NAV returned 8.5% and the share price 15.0%. This compares with a return of 9.8% on the Russell 1000 Value Index. The dividend was maintained at 8p. This […]
Scottish American extends good run – Over 2019, Scottish American (SAINTS) delivered a share price total return of 25.1% and a net asset value total return of 22.9%. A global equity benchmark delivered 22.3%. SAINTS’s returns are at the head of its peer group over the past five years. The dividend is being increased by 3.3% to […]
In QuotedData’s other news 13 February 2020 Chenavari Toro says just 3.4% of its shares in issue were tendered in it the latest offer. Holders of 10.6m shares worth €9.1m will be able to cash in their holding in full. Today, the company’s broker will try to find buyers for up to 8.3m of its treasury […]
Plenty of interest in taking on SQN – SQN Asset Finance Income’s board says that a large number investment managers have indicated an interest in taking on the management of the company. The board is asking for more information from those managers it feels could be suitable. Initial meetings with these managers are expected to take […]
Grit Real Estate Income Group, the pan-African property investor, has entered into an agreement to acquire a stake in a Moroccan real estate investment trust (REIT). The REIT (or Organisme de Placement Collectif Immobilier (OPCI) as it is known in Morocco) will be made up of one asset – the mixed-use property Massira Corner, located […]
DRI Healthcare PLC (DHP), a new closed end investment company that is focused on investments in healthcare royalty assets has published a prospectus in relation to an initial public offering (IPO) of shares on the premium segment of the main market of the London Stock Exchange. In summary: The company is seeking to raise $350m to invest […]
In QuotedData’s other news 12 February 2020 – Witan Investment Trust has announced that it has become a signatory of the UN supported Principles for Responsible Investment (PRI). The PRI signatories are a global network of asset managers, owners and service providers working together to put responsible investment into practice and to report publicly on their progress in […]
Health Secretary targeted for failing people with learning difficulties and autism – More investment needed in accommodation for people with learning difficulties and autism The Equality and Human Rights Commission has launched a legal challenge against the Secretary of State for Health and Social Care over the repeated failure to move people with learning disabilities and autism […]
EPE Special Opportunities (ESO) has provided a trading update for the year ended 31 January 2020. In what was a recovery year for the private equity firm, ESO has smashed it out of the park with a return on NAV of 54.6% driven primarily by led by a significant recovery in value at Luceco Plc […]
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