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).
NewRiver REIT has continued its strategy of recycling capital into high yielding property with £162.9m transacted so far in FY20, it announced in a trading update. The update for the quarter ending 31 December 2019 revealed it had sold £70.3m worth of assets at a blended yield of 4.9% and acquired £92.6m worth of property […]
Town Centre Securities (TCS), the property investor, developer and car park operator, has updated the market on its performance in the half-year ended 31 December 2019 ahead of its half-year results. Overview TCS is continuing to reposition its portfolio away from retail, investing in its estate through asset management and delivering and improving its development […]
In QuotedData’s other news 22 January 2020 Yellow Cake, the uranium fund, is instituting a $2m buyback programme in an effort to narrow its discount. The programme lasts for three months, shares will be held in treasury. Syncona says that its portfolio company, Freeline will be disclosing further data from its Phase 1/2 B-AMAZE trial investigating […]
In QuotedData’s other news 21 January 2020: Troy Income & Growth reports that 25.4m shares were voted against one of the resolutions proposed at its AGM. The resolution still passed as 80m shares were voted in favour. The resolution was one that allows TIGT to issue shares without first offering them to existing shareholders. As TIGT […]
River and Mercantile Micro Cap reports on difficult year – the NAV total return of the River and Mercantile Micro Cap’s portfolio over the year ended 30 September 2019 was (17.48%), which compares with the total return of (7.34%) posted by its benchmark index. The share price fell from 211p to 157p as the discount […]
Aberdeen Standard European Logistics completes its investment in Den Hoorn – Following the announcement dated 16 December 2019, Aberdeen Standard European Logistics has confirmed that it has completed its acquisition of the freehold logistics warehouse in Den Hoorn, the Netherlands, for a net value of EUR49.9 million, providing a net initial yield of 4.5%. This is […]
Renewables Infrastructure buys Blairy Hill wind farm – The Renewables Infrastructure Group has exchanged contracts to acquire a 100% interest in Blary Hill Energy Limited, with the rights to construct a 35MW wind farm located on the Kintyre Peninsula, West Scotland. The investment is expected to complete during Q1 2020. The project, developed by RES, will […]
Embattled shopping centre owner Intu is planning to raise as much as £1bn in fresh equity next month in a bid to shore up its balance sheet. In an announcement responding to a Sunday Times article, the company this morning said it was targeting an equity raise alongside its full year results at the end […]
SQN Asset Finance anaerobic digestion problems – SQN Asset Finance Income Fund has invested in a total of 15 Anaerobic Digestion (“AD”) plants since its launch. Four have subsequently been exited profitably and 11 remain in the ordinary share portfolio. On 30 September 2019, the company said six plants were taking longer than anticipated to ramp […]
Warehouse REIT has provided a trading update for the period since 1 October 2019 during which it has completed 24 new lettings and 20 lease renewals 6.4% ahead of estimated rental value (ERV). The group has also increased its dividend for the quarter and its target for the year from 6p to 6.2p per share. […]
Target Healthcare, the care home investor, has completed the acquisition of a new development site in Cheshire for £9.7m as it continues to deploy the proceeds from its recent oversubscribed capital raise. The group has also completed the acquisition of three other schemes, located in Yorkshire and Wales, and the construction of a care home […]
Real Estate Credit Investments (RECI) committed over £105m in December 2019, across four deals. A £38m loan to a portfolio of 17 properties located across the UK, which include completed residential apartments in London, future development assets (either with full planning, outline planning or resolution to grant) and one office; A €4m loan to fund […]
Symphony International (SIHL) has announced that it has fully exited its investment in IHH Healthcare Berhad (IHH), which it describes as one of the largest healthcare providers in the world by market capitalisation with 15,000 beds across 80 hospitals in 10 countries. SIHL invested approximately US$50m in Integrated Healthcare Hastaneler Turkey Sdn Bhd (IHT) in February 2012 that […]
The economic infrastructure debt investor, Sequoia Economic Infrastructure (SEQI), has announced that it has committed the proceeds of its £280m revolving credit facility (RCF). As at 31 December 2019, SEQI had outstanding drawings on its RCF of £224m and cash of £55.8m, amounting to in net leverage of £168.m. SEQI also had undrawn commitments on existing investments […]
Hipgnosis buys catalogue from Ammar Malik – Hipgnosis Songs Fund has acquired a music catalogue from Ammar Malik. Ammar co-wrote songs such as Maroon 5’s 2011 hit ‘Moves Like Jagger‘, featuring Christina Aguilera, which was Number 1 in 18 Countries including the US and has been certified 9x platinum in the US and 3x platinum in […]
GCP Infrastructure NAV slips on power price fall – GCP Infrastructure says that its NAV fell by 2.08p or 1.86% over the final quarter of 2019. The valuation agent, Mazars LLP carries out a fair market valuation of GCP’s investments on a quarterly basis. NAVs are based on a discounted cash flow methodology (estimating future cash flows […]
AEW UK REIT posted a marginal fall in its net asset value (NAV) for the three months to the end of December 2019 The company, which owns a diversified portfolio of 35 regional UK commercial property assets, reported NAV of 97.24p per share for the quarter, a decrease of 0.1% on September’s NAV of 97.36p per share. The […]
Workspace Group reported an increase in enquiries and lettings for the fourth quarter of 2019 despite the increased political uncertainty leading up to the general election. The company had 1,001 enquiries per month in the three months to the end of December (up from 907 in 2018) and made 113 lettings per month (2018: 98) […]
Henderson Alternative Strategies (HAST) has released the following update: “In our interim results for the half-year to 30 September 2019, we reported that Alex Barr, the senior portfolio manager of the company, had undertaken a root-and-branch review of the portfolio and our company’s competitive positioning. In addition, he had been meeting shareholders and listening to […]
In QuotedData’s other news 16 January 2020 – Bankers Investment Trust (BNKR) has reported annual results to 31 October 2019 with the global sector company delivering a total NAV return of 12.1% (the benchmark FTSE World Index returned 11.7%). BNKR’s chair, Sue Inglis, noted the following in her outlook statement: “Global economic growth remains positive, […]
Scottish Mortgage (SMT) has raised further borrowings of £188m in long-term, fixed rate, senior, unsecured private placement notes, denominated in a mixture of Sterling and Euros. SMT says the transaction has provided it with further long-term financing at very attractive rates. The new notes are part of SMT’s existing gearing facilities and represent the third set […]
GCP Asset Backed Income (GABI), which invests in asset backed loans, has this morning announced that it has entered into an agreement with Royal Bank of Scotland International in respect of an increase to the revolving credit facility for an amount of £50m, split as £40m maturing in August 2020 (plus a 12-month extension option, […]
In QuotedData’s other news 15 January 2020 Standard Life Private Equity said that Peter McKellar, global head of private markets at Aberdeen Standard Investments, the investment manager, bought £500,000 worth of shares in the company – a massive vote of confidence we think, and taking advantage of the discount that the shares trade on. Chenavari Toro […]
Jupiter Emerging and Frontier celebrates good year – Jupiter Emerging and Frontier Markets has published results for the year ended 30 September 2019. The share price and NAV total returns were +4.0% and +10.5%, respectively. This compares with a total return of +3.7% for the benchmark, the MSCI Emerging Markets Index. The dividend was increased […]
London property developer Helical has let the final floor of The Tower office scheme, near Old Street, taking the building to 100% let. Brilliant Basics, an Infosys Company and existing occupier, has taken the 11,331 sq ft 15th floor on a five-year lease, taking its total footprint to 40,479 sq ft across four floors as […]
The PRS REIT has provided an update for the three months to the end of December 2019 during which it completed 256 new rental homes bringing its total portfolio to 1,617 homes. The new homes will contribute £2.6m per year to the company’s rental income, increasing its annualised rental income to £14.9m. The group said demand […]
In QuotedData’s other news 14 January 2020 – Primary Health Properties (PHP) has announced board changes, noting a board of six, consisting of four independent non-executive directors and two executive directors is the appropriate size for PHP going forward, given the relative simplicity of the business model. Accordingly, a replacement for Helen Mahy, whose decision to […]
Macau Property Opportunities (MPO) has provided an update covering the six month period to 30 September 2019. Over the period, shareholders voted to extend the company’s lifespan by one year until the next continuation vote in November 2020, in order to enable an orderly ongoing divestment process. Revised fee structures for the manager and the administrator […]
In QuotedData’s other news 13 January 2020 – US Solar Fund (USF) has announced the acquisition of 100% of the cash equity interests in three operating utility-scale solar power projects totalling approximately 11MWDC in North Carolina. Including the financial close of the five projects announced on 2 January, USF has now closed all eight projects of […]
Assura, the investor and developer of primary care property, announced a trading update for the third quarter ending 31 December 2019 in which it made six acquisitions and completed its third development of the year. The company now has a portfolio of 563 properties that produces an annual rent roll of £105.8m. The six acquisitions competed […]
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