HgCapital Trust (HGT) serves as a listed vehicle providing access to the unquoted businesses managed by Hg, described as Europe’s largest investor in software & service businesses. HGT reported annual results this morning, covering the period to 28 February 2021. Net assets close the financial year at closed to £1.3bn, with HGT noting that it […]
Octopus Renewables Infrastructure (ORIT) announced annual results to 31 December 2020, with the following financial highlights: “ORIT’s IPO took place on 10 December 2019 raising £350m 100% of the net proceeds from IPO are now committed NAV total return of 2.4% over the period since IPO Total shareholder return of 15.9% over the period since […]
In QuotedData’s morning briefing 15 March 2021 – International Biotechnology Trust’s (IBT’s) board and its manager, SV Health Investors, announced that Carl Harald Janson has decided to step back from his role as lead manager after seven at the helm. Lead responsibility for portfolio management will transition to Ailsa Craig and Marek Poszepczynski and the board […]
QuotedData’s weekly news show 12 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, Richard Williams covered the week’s top stories: LXI REIT raised 125 m in oversubscribed issue Tritax Big Box REIT results Home REIT fully deployed IPO […]
What to do about empty shops? The problem child of the property sector has been causing headaches for landlords for years. That headache has turned to a head-splitting migraine since the COVID pandemic. As much as 30% of retail space in the UK was thought to be surplus to requirements before the pandemic. Now, with […]
When we went into the pandemic panic last year, many trusts had revenue reserves equivalent to between half and a whole year’s dividend. Link Group reckoned that about 44% of the UK market’s income was lost in 2020, pushing the total amount of income available back down to 2011 levels. However, most UK equity income […]
Tritax EuroBox, which invests in logistics real estate assets in continental Europe, has been assigned an investment grade credit rating by Fitch Ratings. By achieving investment grade rating (it has been assigned a BBB- long-term corporate credit rating), the group has satisfied a condition on its existing revolving credit facility that will result in an immediate […]
LMS Capital has announced its annual results for the Year Ended 31 December 2020, its first as an internally managed investment company. We have provided the key highlights from the announcement below but note these comments from the trust’s chairman, Robert Rayne: “While 2020 was a challenging year that was significantly impacted by the Coronavirus […]
European Assets Trust (EAT) has announced its annual results for the year ended 31 December 2020, during which it comfortably outperformed in a difficult year. EAT’s sterling NAV total return was 21.9% for the year ended, which it says compares to an 18.9% return for the EMIX Smaller European Companies (ex UK) Index, its benchmark. […]
In QuotedData’s morning briefing 12 March 2021: Jupiter US Smaller Companies (JUS – soon to be Brown Advisory US Smaller Companies) has announced its annual results for the six months ended 31 December 2020. During the period, JUS’s NAV per share rose by 17.8% but, according to the company, this was less than the 24.8% gain […]
LondonMetric Property has sold a portfolio of long income assets to Realty Income, an S&P 500 US REIT, for £40.9m, reflecting a blended net initial yield of 5.9%. The portfolio, which has a WAULT of 11 years, comprises: A 106,000 sq ft retail asset in Leicester let to B&Q, Home Bargain and Smyths Toys. The […]
Oakley Capital Investments freed up significant cash in 2020 – Oakley Capital Investments has announced results for the year ended 31 December 2020. It generated a return on NAV of 18% for the year. The chairman highlights the contribution of an online private university company, Career Partner Group (CPG), which added 34 pence to the NAV per […]
Witan has better second half – After lagging its benchmark by 12.6% over the six months ended 30 June 2020, over the rest of the year it managed to claw some of this back. For 2020 as a whole, Witan returned 4.2% versus a 9.5% return for its benchmark. The dividend for the year increased […]
Aberdeen Smaller Cos Income held its nerve through pandemic – Aberdeen Smaller Companies Income Trust has published results for the year ended 31 December 2020. Over the year, the trust returned -4.1% in NAV terms, just ahead of the Numis Smaller Companies Index which returned -4.3%. Share price performance was slightly behind the benchmark with a return […]
In QuotedData’s morning briefing 11 March 2021 LXI REIT’s share issue was significantly oversubscribed. The company upped the amount raised from the initial £75m target to £125m. It will issue 100,401,606 shares at 124.5p. Secured Income Fund, which is in the throes of organising a return of capital to its shareholders, says it will up the […]
Tritax Big Box REIT reported a whopping 15.7% jump in EPRA net tangible assets (NTA) in full year to the end of December 2020, as the strong fundamentals of the logistics sector continued apace. The group’s portfolio grew in value over the year by 11.9% to £4.41bn, driven by development gains, asset management and the strength […]
RTW Venture Fund (RTW) made two investment announcements yesterday afternoon (9 March) – it participated in the $114m financing round held by Ventyx Biosciences as well as the $36m round held by Visus Therapeutics. The investments are in companies involved in molecule therapeutics and presbyopia-correcting eye drops RTW describes the companies as follows: “Ventyx is a privately-held clinical-stage biotechnology company […]
Further to Chrysalis Investments’s (CHRY’s) announcement on 8 March 2021 that authority for a new placing programme to issue 600m ordinary and/or C shares had been approved, the company will shortly publish a prospectus containing details on the placing programme. CHRY has raised £470m of capital from shareholders since its launch, which means that the implied […]
Global sector company, F&C (FCIT), has reported its annual results to 31 December 2020. The company’s growth and income mandate is carried out through investments in public markets, unquoted investments and private equity. With a market cap of £4.14bn, it is amongst the largest closed-end investment companies and was the first investment trust to launch, back […]
ScotGems (SGEM), the global emerging markets sector trust, reported annual results to 31 December 2020. During 2020, the share price rose by 2.1% and the NAV fell by 1.3%. This compares to a rise in the MSCI emerging markets small cap index of 8.5% and a fall in the MSCI emerging markets ex Asia index […]
In QuotedData’s morning briefing 10 March 2021 – EP Global Opportunities (EPG) reported annual results to 31 December 2020, delivering a total NAV return of -1.3% and a total share price return of -5.6%. EPG has adopted a cautious stance on its investment outlook, with a defensively positioned equity portfolio. At the year-end, 13% of net […]
West End landlord Capital & Counties reported a portfolio value loss of almost a billion pounds during 2020. The group, which owns huge swathes of Covent Garden, said its property portfolio was valued at £1.9bn at the end of 2020, down 26% on a like-for-like basis from £2.8bn a year previously. The valuation deficit was […]
Stenprop has acquired three multi-let industrial (MLI) estates for £18.4m as it remains on target to be a fully focused MLI REIT by the end of the next financial year. The three in Newcastle, Bromborough and Bradford, have been purchased in separate transactions at a net initial yield of 6.7% and a capital value of […]
Power price hit to Foresight NAV – Foresight Solar Partners has announced results for the year ended 31 December 2020. Highlights are: Global portfolio generated 969,564 MWh of clean electricity. This is enough to power 334,000 homes and helped to avoid 749,000 tonnes of carbon emissions. The NAV fell to £582.2m (31 Dec 2019: £628.0m) and […]
In QuotedData’s morning briefing 9 March 2021: Triple Point Social Housing REIT (SOHO) has bought seven supported housing properties, comprising 68 individual units in total, for an aggregate consideration of approximately £12.1m. The properties are located in the North West (24 units), the North East (23 units), Yorkshire (10 units), the East (7 units) and the South East […]
D9 Digital Infrastructure prospectus published D9 Digital Infrastructure has published a prospectus in relation to its initial public offering (IPO). As promised, here is a link to the prospectus, which was published today. As the prospectus makes clear, access to the issue is subject to some geographical restrictions. Make sure you read these. As always, we aren’t recommending […]
Tritax EuroBox raised £198.4m (€230m) in a significantly oversubscribed fund raise. The group had announced it was looking to raise £173m (€200m) but demand for the issue saw it smash that target. A total of 192,633,688 new shares will be issued at a price of 103 pence, of which 57,232,790 will be issued pursuant to the open […]
Home REIT, the homeless accommodation investor, has fully invested the proceeds of its £240m initial public offering after the acquisition of 11 portfolios for £48.1m. The group, which launched in October 2020, now has a portfolio of 572 homeless accommodation properties that represent an average net initial acquisition yield of 5.83%. Significant remaining resources are […]
Ashoka India Equity (AIE) performed well over its interim results to 31 December 2020, with the share price and NAV delivering total returns of 39.1% and 28.6%. This compares with the benchmark MSCI India IMI index’s 27.1% return. Returns led by Infosys and Coforge while Bharti Airtel detracts Infosys, which had an ending weight in the portfolio of 7.5% at the […]
In QuotedData’s morning briefing 8 March 2021 – Gore Street Energy Storage Fund (GSF) announced that strong operational performance has led to further significant growth in its NAV. As at 31 December 2020, the estimated unaudited NAV represented a 2.4% increase over the previous quarter. Post period end, the company has made further progress in the commissioning of […]
