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 […]
Baillie Gifford Shin Nippon (BGS) had an outstanding year to 31 January 2021, with the NAV increasing by 34.0% on a total return basis, compared to a 5.3% rise in the comparative MSCI Japan Small Cap Index. Top performers and main detractors Highlights from the portfolio over the year included: “Online legal portal Bengo4.com was the top positive […]
JPMorgan Claverhouse (JCH) annual results period to 31 December 2020 brought a -10.8% total NAV return. This compares with a total return for the same period from the company’s benchmark, the FTSE all-share index, of -9.8%. JCH says its returns were caused principally by being geared at the time of the steep market fall in the early […]
Fidelity European’s (FEV’s) NAV increased by 9.7% on a total return basis over the year ended 31 December 2020. This represented an outperformance of its benchmark, the FTSE World Europe (ex UK) index, which returned 8.6%. Important points of note from the corporate and manager level were the appointment of Marcel Stotzel as a co-manager alongside […]
In QuotedData’s morning briefing 17 March 2021 – UK Mortgages’s (UKML’s) interim results to 31 December 2020 delivered a 7.7% total NAV return. Chairman, Christopher Waldron, said the following in his notes: “Clearly, since those early days of the COVID-19 pandemic our worst fears over the extent of mortgage holidays and the consequences of other forbearance […]
Sirius Real Estate, the owner and operator of business parks in Germany, has acquired an asset in Essen for €10.7m The transaction is by way of a sale and leaseback with thyssenkrupp, the international industrial engineering and technology group, and reflects an EPRA net initial yield of 6.5%. The purchase was sourced by the Sirius […]
LondonMetric Property has acquired a data centre and urban logistics warehouse, both in Milton Keynes, for a combined £31.2m. The 66,000 sq ft data centre is let to TalkTalk and was bought for £23.9m and the 42,000 sq ft urban logistics facility was acquired for £7.3m. The blended net initial yield was 4.4%, with a […]
Smithson supporters stock up – money floods into investment trust on back of second year of strong performance. Smithson Investment Trust has published results for the year ended 31 December 2020. It was a year of strong growth for the trust as it generated a return on NAV of 31.4% and a share price return of […]
Biopharma Credit looking healthy – BioPharma Credit has published its annual report for the period ended 31 December 2020. Highlights are: NAV was fairly flat during the period, decreasing by $0.018 from $1.0217 to $1.0037 8.29 cents per share in total dividends during period, comfortably ahead of the target to distribute at least 7 cents per […]
