In QuotedData’s morning briefing 26 March 2021: The board of Octopus Renewables Infrastructure Trust (ORIT) says that it notes today’s press release by Octopus Energy Group regarding its proposed acquisition of Octopus Renewables (ORIT’s investment manager). ORIT’s Board says that it has been in active discussions with Octopus in relation to this transaction and notes that there […]
Regional REIT has reported its COVID hit results for 2020. Operationally, the results were robust, but EPRA net tangible assets (NTA) was down 12.4% in the year to 98.6p per share, driven by a 7% drop in the value of its portfolio to £732.4m. The group collected 96.1% of rents during the year (98.2% with […]
Schroder Asia Total Return posts very healthy returns – Schroder Asian Total Return has published results for 2020 and they are good. A net asset value total return of 33.7% was significantly ahead of the benchmark, which returned 18.7%. The company also beat its peer group, which produced an average total return of 30.9%. Returns to […]
International Public Partnerships sees modest hit from COVID – International Public Partnerships says that it had a successful year in 2020, particularly against the wider backdrop of the global Covid-19 pandemic. The company met its dividend target of 7.36p per share for the year (2.5% more than for 2019) and has set out an ambition of […]
NextEnergy Solar hits subsidy-free target – NextEnergy Solar Fund has reached its subsidy-free development target of about 150MWp, through two newly approved subsidy-free development assets. Both assets are currently being prepared for construction and are expected to be energised in early 2022. The assets have an approximate investment value of £45m and comprise: Whitecross, a 124-acre […]
Apax backs Rodenstock – the Apax X Fund, in which Apax Global Alpha has an investment (as a limited partner – in total it committed to invest about $450m in the fund), announced that it has entered into a definitive agreement to acquire a majority stake in Rodenstock Group, a leading manufacturer of premium ophthalmic lenses. […]
In QuotedData’s morning briefing 25 March 2021: Tufton Oceanic Assets (SHIP) raised gross proceeds of US$14.7m by issuing 15m shares at 98 cents each. [It said that it was after $25m, so perhaps this was a little disappointing. That’s a surprise to us as shipping rates have been soaring.] The Renewables Infrastructure Group (TRIG) raised about […]
BioPharma Credit (BPCR) announce that it, through its fully owned subsidiary, together with BioPharma Credit Investments V (Master) LP (“BioPharma-V” and jointly with the Company the “Lenders”) has entered into a US$300m definitive senior secured loan agreement with LumiraDx Investment and LumiraDx Group. BPCR will invest $150m and BioPharma-V will invest an additional $150m. COVID-19 antibody […]
In QuotedData’s morning briefing 24 March 2021 – BMO Private Equity (BPET) announced that the software company, Dotmatics, in which it has a holding, has entered an agreement for its sale to US-based company Insightful Science. The transaction is expected to complete early in Q2. The investment is led by Scotland based growth equity investor […]
Shake up at JPMorgan Multi Asset – JPMorgan Multi Asset Trust just passed its third birthday. It would be fair to say that the trust is sub-scale – with a market cap of £80m – and not particularly in demand – it currently trades on a discount of 11.8%. The board and the managers, believe […]
Care home owner Target Healthcare REIT has posted a 3.3% net asset value (NAV) total return for the six months to 31 December 2020. The group, which raised £60m earlier this month to buy an identified pipeline of investments, said this was driven primarily by the rental and valuation growth of the property portfolio. The […]
BB Biotech top pick Ionis hit by safety setback – BB Biotech’s top holding, US antisense therapeutics pioneer Ionis Pharmaceuticals, has suffered a material setback, after the independent committee monitoring trials of one of its lead development products – tominersen, which is partnered with the pharma giant Roche – recommended discontinuation of dosing in Phase III […]
Temple Bar looks to brighter future – Temple Bar Investment Trust has published results for the year ended 31 December 2020. The first nine months were a difficult period for the trust – seeing it lose its manager and underperform significantly. Alastair Mundy’s retirement due to ill health prompted a review of management arrangements. RWC Partners […]
Symphony optimistic despite COVID travel hit – Symphony International Holdings has announced results for the year ended 31 December 2020. The NAV attributable to the ordinary shares on 31 December 2020 was US$0.7384 per share. This represents a 24.70% decline over the NAV per share of US$0.9805 at 31 December 2019. The change is predominantly due to a […]
JLEN buys Centre Parcs AD power plant – JLEN Environmental Assets Group has bought a 100% equity stake in Rainworth Energy Limited, for £5.8m (subject to adjustment for working capital). Rainworth Energy holds the rights and operational assets that make up the Rainworth anaerobic digestion (AD) plant, a 2.2MW electrical plant based in Nottinghamshire, UK, close […]
In QuotedData’s morning briefing 23 March 2021: Axiom European Financial Debt reports flat returns to shareholders and 1.7% return on NAV for 2020. NAV and share price falls were offset by income. The dividend was maintained at 6p and the company thinks this is sustainable in 2021. The report breaks down activity and returns month by […]
Glasshouse loan deal frees up cash for KKV – Triple Point Energy Efficiency Infrastructure (TEEC) has refinanced a loan in KKV Secured Loan’s portfolio. It turns out that one of this deal was one of the target CHP+ assets that Triple Point had identified at IPO. These are held by Harvest Generation Services and Glasshouse Generation. Under the terms […]
Princess Private Equity (PEYS) has reported final results to 31 December 2020, with highlights that include: NAV increased to EUR 13.35 per share, representing a total return of +10.0% for the year. Share price total return over the same period was +12.4%. PEYS paid a total dividend of EUR 0.435 per share during the year, […]
In QuotedData’s morning briefing 22 March 2021 – Flexible investment sector company, New Star (NSI), reported interim results to 31 December 2020, delivering a total NAV return of 8.7% and a total market return of 15.1%. NSI benefited from its allocations to UK smaller stocks and emerging market equities but its allocations to dollar cash and gold […]
QuotedData’s weekly news show 19 March 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: James Anderson of Scottish Mortgage retirement announcement Apax Global Alpha update Richard Williams also covered: Supermarket Income REIT […]
Tuesday next week will mark a year to the day that Boris Johnson announced the UK would go into full lockdown in a bid to curb the COVID-19 pandemic. It seems unbelievable that a year later we are still in a lockdown. The successive lockdowns have hugely impacted the property sector – mainly negatively (as […]
During The Schiehallion Fund’s (MNTN’s) financial year to 31 January 2021, its share price and NAV returned 48.1% and 42.3%. Over the period from 27 March 2019 (launch date) to 31 January 2021, MNTN’s share price and NAV returned 80.0% and 47.5%. When the MNTN was launched, raising gross proceeds of US$477m, its board said […]
This week’s big news is the planned retirement of James Anderson, manager of Scottish Mortgage Trust (SMT) since 2000 and arguably one of the UK’s best fund managers. The returns that Scottish Mortgage has generated are impressive – turning £1,000 worth of capital into almost £18,000 over the past 20 years. It is the best […]
The two listed social housing REITs, Civitas Social Housing and Triple Point Social Housing REIT, have responded to regulatory judgements on two of their tenants. Pivotal Housing Association and Hilldale Housing Association both breached the Regulator of Social Housing’s (RSH’s) governance and financial viability. Civitas said Pivotal, which represents 3.96% of its rent roll, and Hilldale, which […]
CQS Natural Resources Growth & Income (CYN) has announced its interim results for the six-months ended 31 December 2020, which show that it delivered a stellar recovery in the second half of its financial year. CYN provided an NAV total return for the six months to 31 December 2020 of +47.1% which compares to an […]
Scottish Mortgage has announced that, after nearly four decades at Baillie Gifford, James Anderson will retire from the Baillie Gifford partnership on 30 April 2022 and will, accordingly, step down as joint portfolio manager of Scottish Mortgage Investment Trust PLC on that date. Tom Slater will continue as lead portfolio manager when James retires and […]
In QuotedData’s morning briefing 19 March 2021: Further to an announcement on 18 March 2021 after the market had closed, Future Fund Board of Guardians has sold 32.7m ordinary shares in Apax Global Alpha Ltd (AGA) at a price of 180 pence per share. Future Fund no longer holds any ordinary shares in AGA. Furthermore, AGA did not receive […]
Investors see potential in AVI Japan Opportunity – AVI Japan Opportunity Trust has published its annual report for the year ended 31 December 2020. Over the year, the NAV and share price fell by 1.4% and 1.1% respectively. However, the benchmark (MSCI Japan Small Cap Total Return Index in sterling) rose by 3.2%. The chairman notes […]
Hipgnosis buys Carole Bayer Sager catalogue – Hipgnosis Songs Fund has bought the catalogue of Carole Bayer Sager. The catalogue spans 55 years and contains songs including A Groovy Kind Of Love, When I Need You, Nobody Does It Better, That’s What Friends Are For, Heartlight, The Prayer, Don’t Cry Out Loud, On My Own, It’s The Falling In Love, Arthur’s Theme (Best That […]
In QuotedData’s morning briefing 18 March 2021: NB Distressed Debt says its investment manager, Neuberger Berman Europe Limited, has offered to waive its entitlement to receive its management fee with immediate effect. The chairman says “The fee waiver recognises that it is taking longer than expected to fully realise the company’s assets due to a number […]
