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).
Primary Health Properties (PHP) has announced its annual results for the year ended 31 December 2019. This is a year that its managing director, Harry Hyman, describes as “transformational”, as it saw the completion of the company’s merger with MedicX, which brought together complementary portfolios in the UK and Ireland. Harry says that this has […]
Local Shopping REIT said it will shortly announce a new investment policy with a view to growing the business after years of gradually selling off its portfolio. The company’s former investment policy was to dispose of its assets in order to repay debt and return any surplus value to shareholders. The company last year fended […]
Ediston Property Investment Company’s (EPIC) fund manager Danny O’Neill has bought £435,000 worth of shares in the company. O’Neill, who is chief executive of the company’s investment manager, purchased 500,000 shares at 87p – more than doubling his stake to 858,488 shares worth £746,884. EPIC has been trading at an average 14% discount to its […]
Embattled shopping centre owner Intu Properties has been dealt a body-blow in its efforts to raise £1bn of emergency cash, with Hong Kong’s Link REIT pulling out of discussions to participate in the fundraise. It was reported over the weekend, and confirmed by Intu yesterday, that it was nearing a deal with Link REIT to […]
Hadrian’s Wall Secured Investments’s board (HWSL) has said that further to the announcement on 9 December 2019 (we covered this here), it has concluded its strategic review and determined that the company should be put into managed wind-down with cash returned to shareholders in a timely and efficient manner. We also discussed some of the […]
Supermarket Income REIT is in discussions to acquire a minority stake in a portfolio of 26 Sainsbury’s supermarkets. The group is in talks with a large institutional investor to form a joint venture partnership to buy British Land’s 26% stake in the portfolio, which is reportedly worth around £105m. The properties, which are all let to […]
In QuotedData’s other news 11 February 2020 – Investment Company (INV), which invests in the UK growth and income sector, reported interim results to 31 December 2019. Over the period. the company’s NAV increased by 7.61 %, compared with the FTSE all-share index’s 3.44% return. We also have a major update on the future of Hadrian’s Wall […]
Taking account of the quality of the acquisition pipeline in North America and continental Europe, SDCL Energy Efficiency Income (SEIT)’s board looks set to seek shareholder approval to remove the 25% minimum exposure limit to UK-based assets, which was adopted at the time of its IPO in December 2018. SEIT says the removal of the limit would […]
JLEN Environmental Assets Group (JLEN) has announces that, following an internal restructuring at Foresight Group, Foresight Group LLP (Foresight) has replaced Foresight Group CI Limited (Foresight CI) as investment adviser to JLEN. As announced by the company on 5 June 2019, Foresight CI was appointed as investment adviser to JLEN with effect from 1 July […]
Flexible office space provider Workspace Group has poached Whitbread finance director David Benson for the role of chief financial officer. Benson will join the board of the company and become a member of the executive committee, when he joins on 1 April 2020. He is currently corporate finance director of Whitbread and previously held senior finance […]
Palace Capital has set a record office rent in York city with the completion of a pre-let agreement at its Hudson Quarter mixed-use development. The company has signed up solicitors firm Knights to the ground floor space on a 10-year lease that will rise to £25/sq ft after two year – marking a record office rent for […]
Further to the announcement on 20 January 2020, Sequoia Economic Infrastructure Income (SEQI), the specialist investor in economic infrastructure debt, has announced a proposed share issuance that seeks to raise £250m of gross proceeds. The company intends to use the proceeds raised from the issue to repay the drawn commitments under its £280m revolving credit […]
JZ Capital Partners (JZCP) invests in US and European micro-cap companies and US real estate. The company has this morning announced that it has begun receiving preliminary appraisals for its real estate portfolio assets for the valuation period as of February 29, 2020. In line with the company’s previously announced expectation in its interim results, released […]
In QuotedData’s other news 10 February 2020 – Intu Properties (INTU) confirmed that further to press speculation, it is engaged in discussions with shareholders and new investors, in relation to a proposed equity raise alongside the company’s full year results at the end of February. INTU says it will make further announcements in due course, […]
Urban Logistics REIT (SHED) says that further to the pipeline update announcement on 6 January 2020 (click here to read more), it is announcing a proposed placing to raise a target issue of £100m and an open offer and offer for subscription to raise up to around £6.7m. Richard Moffitt, director and CEO of the company, […]
In QuotedData’s other news 7 February 2020 Gresham House Energy Storage is calling an EGM as it tries to raise money to fund “a significant, operational project which the vendor has advised has the potential for expansion to over 50MW“. US Solar Fund says its fraud is “an isolated incident originating from outside the Investment Manager […]
Impressive returns from BlackRock Throgmorton – Over the year ended 30 November 2019, BlackRock Throgmorton Trust delivered an NAV return of 24.4%, three times the 8.0% return on its benchmark index, the Numis Smaller Companies plus AIM (excluding Investment Companies) Index. The share price returned an even more impressive 42.8% during the year as the discount narrowed […]
Hipgnosis ready to merge C shares – Hipgnosis Songs Fund has invested enough of the money it raised in its C share fundraise to warrant merging the C share and ordinary share portfolios. Issuing C shares allows funds to raise substantial amounts of money without diluting returns for existing shareholders. The NAV of the ordinary […]
BioPharma funds Collegium Pharmaceutical – BioPharma Credit has made a senior secured term loan agreement with Collegium Pharmaceutical, Inc. (traded on Nasdaq with the ticker COLL, with a current market capitalisation of about $680m). The company is investing alongside BioPharma Credit Investments V (Master) LP. The company will invest $165m and BioPharma-V will top that up […]
Hg Capital investment in smartTrade Technologies – HgCapital Trust will invest approximately £17.5m in smartTrade Technologies, with other institutional clients of Hg investing alongside through the Hg Mercury 2 Fund. The investment will reduce the company’s outstanding commitments to invest in Hg transactions to approximately £233m. We’ll get more news about the trust’s finances when it releases […]
BlackRock Energy and Resources Income (BERI), formerly BlackRock Commodities Income, reported final results to 30 November 2019. Resources were mostly out of favour with investors, against a backdrop of low inflation and an increasing focus on climate change. NAV and share performance summary: NAV total returns were +4.4% Share price total returns were (1.3%) Manager’s review – […]
In QuotedData’s other news 6 February 2020 – AEW UK Long Lease REIT (AEWL) has provided a performance update covering the quarter to 31 December 2019. Unaudited EPRA earnings per share increased by 12.9% to 1.523 pence per share, which the company says represents dividend cover for the quarter of 110.8% (quarter to 30 September 2019: […]
Further to the announcement on 26 November 2019 (which we covered here) that Polar Capital Global Financials (PCFT) would explore a continuing vehicle as fixed-life end date approached, the trust has provided a further update on its future. Following meetings with major shareholders, PCFT says a majority have expressed a desire to maintain an exposure to the […]
Marten & Co Income Strategies Conference 2020 Many thanks to those of you who made it to our inaugral Marten & Co Income Strategies Conference. We had some great presentations from a diverse range of income funds. JLEN Environmental – Shires Income – Civitas Social Housing – Henderson Diversified Income – Polar Capital Global Financials The […]
In QuotedData’s other news 5 February 2020 – Gore Street Energy Storage (GSF) has raised £3.5m in a share placing. Proceeds will be used to fund investment opportunities from energy storage projects in the UK and internationally. Primary Health Properties (PHP) announced that it has contracted with a developer to fund the development and acquisition of a purpose-built […]
Invesco Perpetual Select risk assets outperform over interim period – Invesco Perpetual Select has published its interim results for the six months to 30 November 2019. But first, a bit more on the company: The company’s investment objective is to provide shareholders with a choice of investment strategies and policies, each intended to generate attractive risk-adjusted returns. The company’s share capital comprises […]
The renewable energy infrastructure company, SDCL Energy Efficiency Income (SEIT), has finalised the acquisition of a 50% interest in Primary Energy, a portfolio of recycled energy and cogeneration projects located in Indiana, USA, for an equity cash value of around $110m. The deal was initially announced on 30 December 2019 – you can read more on it […]
In QuotedData’s other news 4 February 2020 Gore Street Energy Storage is raising money – £1.5m has been promised by two specialist ESG funds and they are subscribing for shares at 95.5p (the last published NAV). The fund is asking other professional investors whether they want to buy shares at the same time. The money will […]
Tritax Big Box REIT said it was looking to recycle capital from the sale of specific assets in order to fund its development pipeline. In a trading update, the group said it was targeting an average yield on cost of between 6% and 8% across its developments, well above the group’s current portfolio valuation yield of 4.5%. […]
Tritax EuroBox has acquired two recently developed prime logistics properties and development land in Poland for €66.8m. The purchase of the assets, which are located in Strykow, near Lodz in Central Poland, reflects a net initial yield of 6.1%. Tritax EuroBox also has the option to buy development land adjacent to one of the buildings […]
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