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Investment Companies News

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).

07 Feb 2024
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QuotedData’s morning briefing 7 February 2024 – UKCM, CREI, PSDL

In QuotedData’s morning briefing 7 February 2024: UK Commercial Property REIT (UKCM) posted a 2.5% fall in NAV to 78.7p per share in the quarter to 31 December 2023. The group’s portfolio value dropped 2.1% in the period to £1.25bn. On the operational side, the company grew earnings 6.3% over 2023 to 3.35p per share. […]

Sectors
Companies
06 Feb 2024
John Laing Environmental Assets Group - Diverse renewables exposure

Aquila European Renewables provides Q4 update

Aquila European Renewables has provided a Q4 update for the period ended 31 December 2023. The company saw a NAV total return of -2.6% while total shareholder return over the quarter was -4.1%, with the discount widening to 20.3%. Key drivers of the NAV movement in Q4 2023 were the impact of changes to Norway’s […]

06 Feb 2024

Chrysalis allegations against Revolution Beauty remain unresolved

As previously announced, Chrysalis (CHRY) continues to pursue legal action against Revolution Beauty Group based on misstatements and material omissions made by its management when CHRY originally invested in the company. In January 2024, following a letter of claim from CHRY, Revolution Beauty requested further time to formulate a response as the initial December deadline […]

06 Feb 2024
a newspaper sticking out of a grey letterbox

QuotedData’s morning briefing 6 February 2024 – AUGM

QuotedData’s morning briefing 6 February 2024: Augmentum Fintech (AUGM) announced a £4 million investment into London based insurtech Artificial Labs. Augmentum has led Artificial’s £8 million Series A+ round, which also includes participation from existing investors MS&AD Ventures and FOMCAP IV, alongside other investors. Artificial is an established underwriting technology provider for the London Insurance […]

05 Feb 2024

BlackRock Sustainable American Income reflects the challenges of ESG investing

BlackRock Sustainable American Income Trust (BRSA) has released its financial year end results for the 12 month period ending 30 November 2023. Over the 12 months BRSA reported a NAV total return of -5.6%, and share price total return of -8.1%, both underperforming its reference index, the Russell 1000 Value Index, which returned -5.0%. The […]

Sectors
05 Feb 2024
Shaftesbury optimistic for London recovery

Throgmorton easily surpasses its benchmark

BlackRock Throgmorton Trust (THRG) has released its annual results for the financial year ending 30 November 2023. Over the 12 month period THRG reported a NAV total return of -2.3% and share price total return of -0.8%. Both these represented an outperformance relative to THRG’s benchmark index, the Numis Smaller Companies plus AIM (excluding Investment […]

Sectors
05 Feb 2024

Hipgnosis tries to distance itself from the forthcoming litigation

Hipgnosis Songs Fund (SONG) has provided an update on ongoing litigation between Hipgnosis Music Limited and Mr Mercuriadis, Hipgnosis Songs Management (SONG’s investment adviser, which is majority owned by funds managed and/or advised by Blackstone) and SONG. Hipgnosis Music Limited (of which Mr Mercuriadis was a director from 16 June 2015 and is still shown […]

Sectors
05 Feb 2024
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 5 February 2024 – CVCE, INOV, PEY, GSF, HGT, SEIT

In QuotedData’s morning briefing for 5 February 2024: CVC Income & Growth (CVCE) has announced an increase in its annual dividend targets, increased to 8.25p per ordinary sterling share and 7.25c per ordinary euro share. This means that CVCE’s quarterly dividends will be increased to 2.0625p per sterling share and 1.8125c per euro share. Schroders […]

Companies
02 Feb 2024
The Hipgnosis elephant going downhill

Merck Mercuriadis no longer CEO of SONG’s manager but stays on as chair

In a statement issued today (2 February 2024) on Hipgnosis Songs Fund’s (SONG’s) website (click here to read), it has been announced that Merck Mercuriadis, founder of SONG’s the management company has stepped down from his role as its chief executive but will be staying on as the chair of the manager’s board. Ben Katovsky, […]

02 Feb 2024
roped off red carpet

QD view – VIP access at bargain prices

After an extended period of trading at wide discounts, private equity funds seem to be more responsive to the idea of using share buybacks to tackle the problem. Is it time to pick up these bargains before they disappear? HarbourVest launching distribution pool The latest to make a move on this is HarbourVest Private Equity […]

Companies
02 Feb 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 2nd February 2024

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: • Batteries – Gresham and Harmony (0:56) • Digital 9 Infrastructure (9:40) Andrew McHattie explained how it has been a better month for growth stocks […]

Sectors
Companies
02 Feb 2024

Five years of change in Japan – a message from the manager

It has been five years since we launched the AVI Japan Opportunity Trust (AJOT). In Japan, five years is the blink of an eye, Japanese companies tend to think in decades or generations. However, a lot has happened in five years. It all started in 2012 with Shinzo Abe’s economic legacy, coined Abenomics. The first […]

02 Feb 2024

Harmony Energy Income follows GRID in slashing dividend

Following a similar announcement from Gresham House Energy storage (GRID – click here to see our coverage of this from yesterday), Harmony Energy Income Trust (HEIT) has also issued a trading update ahead of the publication of its quarterly Net Asset Value update and audited annual results later this month. Like GRID, HEIT says that […]

02 Feb 2024
230303 ORIT Breach Solar Farm

Octopus Renewables Infrastructure acquires four solar farms near Dublin

Octopus Renewables Infrastructure Trust (ORIT) has acquired four newly-constructed solar farms located close to Dublin, Ireland for a total cost of €160m. The solar complex totals 199MW and was acquired from Statkraft Ireland Limited, which developed and constructed the projects under ORIT’s oversight. Following the acquisition, ORIT’s total capacity of operational renewable energy assets reaches […]

Sectors
02 Feb 2024
vietnam

Tuan Anh Le becomes lead manager for Vietnam Enterprise Investments

Vietnam Enterprise Investments Limited (VEIL) has announced that Mr. Tuan Anh Le (Tuan) has been appointed as the lead portfolio manager, stepping up from deputy manager, with effect from 1 February 2024. Tuan succeeds Mr. Dien Vu Huu (Dien) who is moving to a new role at Dragon Capital. Tuan joined Dragon Capital as a […]

Sectors
02 Feb 2024
a coffee pot and a mug, good morning from QuotedData

QuotedData’s morning briefing 2 February 2024 – AGA, GRID, HGT, BCPT, RGL, GCP, SHIP, GABI, VEIL, CGL

In QuotedData’s morning briefing 2 February 2024: On 1 February 2024, Apax XI Fund announced that it had closed the acquisition of WGSN, a consumer trend forecaster, from Ascential Plc. Apax Global Alpha (AGA), which is a limited partner in Apax XI, says that it has invested approximately €21.5m in WGSN on a look-through basis […]

Geographies
  • Asia
  • Europe (EU and EEA ex UK)
  • Global
  • UK
Sectors
Companies
01 Feb 2024

Tough year for Henderson Opportunities Trust

Henderson Opportunities Trust (HOT) has published its annual report. In a difficult backdrop for smaller companies, HOT says that it has been a very disappointing year for the company in both absolute and relative terms. HOT reported a  NAV total return of -9.3% and a share price total return of -12.2%. Over the same period, […]

01 Feb 2024
Ed Warner, chair of Harbourvest Private Equity

HabourVest announces new distribution pool and plans for a fully independent board

HarbourVest Global Private Equity Limited (HVPE) has launched a distribution pool to finance future share buybacks or return capital to shareholders by means of special dividends:   The shareholder distribution policy will provide cash for shareholders to bolster their returns through the cycle   The distribution pool will be funded from cash realisations, with 15% of […]

01 Feb 2024

Value stocks unusually cheap says Aberforth

Aberforth Smaller Companies has published results for the year that ended on 31 December 2023. Its NAV return lagged that of its index benchmark (Deutsche Numis Smaller Companies ex Investment Companies), returning 8.2% to the index’s 10.1%. A small widening of the discount meant that shareholders got a return of 8.0%. The dividend was upped […]

01 Feb 2024
a battery storage project

Gresham House Energy Storage slashes dividend

Gresham House Energy Storage has published a trading update ahead of the publication of its results in April 2024. It says that it is still impacted by a weak revenue environment, due to a combination of: battery energy storage (BESS) still being significantly under-utilised in National Grid ESO’s Balancing Mechanism – its forum for trading […]

01 Feb 2024
a green coffee cup sitting on a book

QuotedData’s morning briefing 1 February 2024 – CVCE, CVCG, GABI, THRL, API

In QuotedData’s morning briefing 1 February 2024: CVC Income & Growth (CVCE / CVCG) is holding a tender offer in March. As part of this it is offering shareholders the chance to sell their shares on to third parties rather than wait for the tender. The broker Winterflood will try to sell the shares but […]

Companies
31 Jan 2024

Chrysalis portfolio company Sorted sold to Location Sciences

Location Sciences (LSAI) has announced the acquisition of Chrysalis (CHRY) portfolio company Sorted Holdings, for an aggregate nominal consideration of approximately £66.73 to be paid in cash at completion. The company is a SaaS business that supports retailers’ deliveries and collections which has received a significant amount of capital investment, in excess of £70m, to […]

Sectors
31 Jan 2024

Optimistic outlook for abrdn Private Equity Opportunities Trust

abrdn Private Equity Opportunities Trust (APEO) announced its annual report for the period ended 30 September 2023. NAV total return for the year was 5.4% while share price total return was 11.5%, trailing the benchmark FTSE all-share index return of 13.8%. Commenting on the results, chair  Alan Devine noted: “The past 12 months have been […]

Sectors
31 Jan 2024
european opportunities trust plc written in white text against a view of sky surrounded by glass office towers

Results of European Opportunities Trust’s tender offer

European Opportunities Trust (EOT) announced the results of its tender offer to purchase up to 25% of the company’s ordinary shares in issue (you can read about the original announcement here). The offer was taken up in full and, after taking account of roundings, the company will purchase a total of 24,074,030 shares at the […]

31 Jan 2024
a green cup of something hot - tea or coffee? - sitting on an open bookon which is also resting what looks like a napkin 230406 morning

QuotedData’s morning briefing 31 January 2024 – HSL, RESI

In QuotedData’s morning briefing 31 January 2024: Henderson Smaller Companies Investment Trust (HSL) announced its results for the half year ended 30 November 2023. NAV total return fell by 7.7% during the six month period, while the benchmark Numis Smaller Companies ex-Investment Companies Index was almost flat, and the AIC UK Smaller Companies sector average […]

30 Jan 2024
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 30 January 2024 – UKW, RTW, IHR

In QuotedData’s morning briefing 30 January 2024: Greencoat UK Wind (UKW) announced the appointment of Abigail Rotheroe as a non-executive director of the company. Her appointment will be effective from 1 March 2024. Abigail is a CFA Charterholder and brings over 20 years’ experience in the investment industry. She is the former investment director of […]

Companies
29 Jan 2024

GCP Asset Backed Income updates on strategic review

GCP Asset Backed Income has published more information on its portfolio and its strategic review. In addition, an updated portfolio report is now on the company’s website at https://www.graviscapital.com/funds/gabi-strategic-review/literature. Portfolio repayment profile As at 31 December 2023, the company was invested in a portfolio of 42 asset backed loans with a weighted average loan duration […]

29 Jan 2024
Chrysalis investments logo in purple and green on a dark blue background

Chrysalis reports quarterly NAV growth and a modest share price rise

Chrysalis Investments (CHRY) has released a quarterly update to end December 2023 and its annual results for the year ending 30 September 2023. This is the last set of annual results released by the CHRY team under its tenure at Jupiter, as the investment team has previously announced that it will launch its own independent […]

Sectors
29 Jan 2024
a cartoon of a miserable looking silicon chip

Digital 9 Infrastructure announces wind-down

The board of Digital 9 Infrastructure (DGI9) has announced that following the conclusion of its strategic review, announced in November 2023, it has decided to propose a managed wind-down. The decision was made in consultation with DGI9’s financial advisers, as well as taking into account feedback received from a large number of shareholders and institutional […]

Sectors
29 Jan 2024
QuotedData's morning briefing

QuotedData’s morning briefing 29 January 2024 – BOOK, GCP, DORE, LMS, BBOX

In QuotedData’s morning briefing 29 January 2024: Literacy Capital (BOOK) has provided a quarterly trading update and NAV announcement for the fourth quarter of 2023. Over the period BOOK saw a NAV uplift of $4.6m, or 7.7p per share, equal to a quarterly return of 1.6%. Its total NAV for the end of 2023 was […]

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