Mobius Investment Trust (MMIT) has announced its annual results for the year ended 30 November 2020 (its second year of operations), during which MMIT provided strong NAV and share price total returns of +16.3% and +24.7% respectively. The chairman, Maria Luisa Cicognani, says that Emerging markets were particularly hard hit by the risk-averse sentiment in […]
CC Japan Income & Growth (CCJI) has announced its annual results for the year ended 31 October 2020, which show that it was hurt by its focus on income. During the year, CCJI’s NAV total return fell by 11.1% in sterling terms, while the Tokyo Stock Exchange Price Index (Topix) was fractionally positive at +0.3%. […]
Law Debenture (LWDB) has announced its annual results for the year ended 31 December 2020 and, in the words of its chairman, Robert Hingley, “Law Debenture has delivered a good performance in 2020, demonstrating the advantages of its unique structure, which allows increased flexibility in portfolio construction”. To summarise its performance, while LWDB provided an […]
Tetragon Financial (TFG) has published its annual report for the year ended 31 December 2020, which shows it was a bit of mixed year for the company. During the year, it has provided NAV and share price total returns of 9.5% and -18.5% respectively. In comparison, TFG’s hurdle (LIBOR + 2.75%) returned 3.7%, the MSCI […]
In QuotedData’s morning briefing 26 February 2021: Pacific Horizon is asking shareholders for permission to issue more stock. It has issued a circular for a general meeting that is to be held on 22 March 2021 in which it will put forward three resolutions: to ask for the authority to allot up to 20 per […]
Shaftesbury collected just 36% of rent due in the first month of 2021 as the lockdown meant the majority of its portfolio was shuttered. The group, which owns a 16-acre portfolio in the heart of London’s West End – including Carnaby Street, Covent Garden and Chinatown, said it had received £3.5m of the £9.8m billed […]
Greencoat UK Wind held back by falling premium – Greencoat UK Wind has announced final results for the year to 31 December 2020. While the NAV increased from 119.7p to 120.4p (+0.6%) during the year, the return to shareholders was -6.2% as the premium fell. This may reflect share issuance but falling power prices have also weighed on […]
Troy’s Francis Brooke secures promotion – Francis Brooke, who has managed the £3.3bn Trojan Income Fund since its launch in October 2004 and the £241m Troy Income & Growth Trust since 2009, will be relinquishing his fund management responsibilities on 31st December 2021 and taking up a new role as executive vice-chairman of Troy Asset Management […]
In QuotedData’s morning briefing 25 February 2021: Following its recent good news, KKV Secured Loan Fund will hand back 5p per share (£17.8m) to ordinary shareholders and 12p per share (£16.7m) to C shareholders. The ex date for these distributions will be 5 March 2021 and payment should arrive within the next couple of weeks after […]
Aberdeen Standard European Logistics Income (ASLI) has reported a 6.6% increase in net asset value (NAV) for the quarter to the end of December 2020. The growth in NAV, to 120.1€c per share (107.9p) from 112.7€c (102.9p) in September 2020, was mainly due to a 6.0% increase in the value of its property portfolio. [QD […]
Riverstone Energy (RSE)’s annual results period to end-December 2020 saw it deliver 36% and 38% decreases in NAV in USD and GBP terms. ‘Tightening in supply, as a result of higher demand and lower non-OPEC+ supply, has helped to support a higher commodity price environment’ RSE’s chairman Richard Hayden provided the following summary of the challenges faced […]
Greencoat UK Wind (UKW) has bought the remaining 50% interest in Braes of Doune wind farm from funds managed by the infrastructure team of the international business of Federated Hermes for a sum of £48.1m. UKW also agrees deal to buy 49.4% Kype Muir Extension wind farm for £51.4m Braes of Doune is located in Stirlingshire, Scotland and […]
In QuotedData’s morning briefing 24 February 2021 – Vietnam Enterprise Investments (VEIL) announced yesterday that with effect from 1 July 2021, the management fee will be amended to 1.85% per annum of NAV for the first US$1.2bn of the company’s NAV, reducing to 1.65% per annum for NAV between US$1.2bn and US$1.5bn and further reducing […]
Blackrock Frontiers set to shrink – BlackRock Frontiers Investment Trust has announced the result of its tender offer. The tender closed at 1.00 p.m. on 19 February 2021 and was approved by shareholders today. 51,884,770 ordinary shares, representing 21.51% of the shares in issue as at 19 February 2021 were validly tendered. Now, the company’s assets […]
Lar Espana sells 22 supermarkets – Lar España has sold 22 commercial premises leased to Eroski to European real estate investment fund Blackbrook Capital. The 22 supermarkets cover an approximate area of 39,000 square meters (28,000 of gross lettable space). The price is €59 million, which represents an uplift of 24% over the €47.6 million that the company paid […]
Herald reports impressive returns – Herald Investment Trust has published its annual report for the year ended 31 December 2020. Its NAV increased by 37% over the year. This compares to an increase of 4.9% for the Numis Smaller Companies plus AIM (ex. investment companies) Index – UK assets make up about half the portfolio – and […]
Fondul boosted by narrowing discount – Fondul Proprietatea has announced results for the year ended 31 December 2020. The NAV total return (in Romanian leu – RON) was 2.21% and the share price return was 26.44%, boosted by a substantial narrowing of the discount which finished the period at 9.7%. The Romanian market did well relative to other […]
Polar Capital Global Financials matches benchmark in transformational year – Over the year ended 30 November 2020, the trust delivered a return of -6.5%, just about in line with its benchmark, which returned -6.4%. Shareholders did better than this though as the discount narrowed, leaving them with a return of -1.6%. This was a year […]
In QuotedData’s morning briefing 23 February 2021: Sequoia Economic Infrastructure Income Fund says that it plans to raise up to a maximum of £172.9m by issuing up to 164,312,714 new ordinary shares at 105.25p. The price is a 4.0% premium to NAV and a discount of 2.7% to the closing price of 108.2p last night. The proceeds […]
NextEnergy Solar (NESF) announced an operational update and its unaudited NAV, as at 31 December 2020. NAV increased to 100.7p per ordinary share, compared to 99.6p, as at 30 September 2020. Operational highlights from the period include: “763 MWp total capacity installed to date (30 September 2020: 755 MWp), across 91 operating solar assets with 8.5 MWp […]
QuotedData’s weekly news show 19 February 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: JLEN Environmental Assets expanding remit KKV Secured Loan update BH Global – shareholders to vote on BH Global fees […]
The proposed €200m (£173m) equity raise by Tritax EuroBox should be enthusiastically received by investors. The group recognises that now is the time to be growing in the burgeoning European logistics sector, with structural tailwinds well and truly in its favour. Like in the UK, online retailing was already rising in Europe before the pandemic, but […]
QD view – Resurgent emergence: What are the prospects for emerging markets funds as the global economy recovers from COVID-19? The place to be Quite a few commentators have been picking emerging markets as the place to be in 2021. Part of the argument is that many of them (particularly in parts of Asia) coped […]
Aberdeen Emerging Markets (AEMC) has announced its annual results for the year ended 31 October 2020, during which fund selection contributed strongly to the outperformance during the year, allowing AEMC to provide NAV and share price total returns of 8.9% and 12.2% respectively. The chairman, Mark Hadsley-Chaplin, says that there were notable contributions from certain […]
Tritax EuroBox, the European logistics investor, has proposed an equity raise of £173m (€200m) as it looks to expand its portfolio in the burgeoning property sector. The group will use the proceeds, together with existing cash (from the €65.5m sale of a Polish asset last week) and new debt, to acquire a near term pipeline […]
Assura (AGR) has announced that it has completed the acquisition of primary care developer Apollo Capital Projects Development Limited (Apollo). AGR says that Apollo has a strong, 20-year track record of developing high-quality primary care properties across the UK, with a very experienced four-person development team. As well as expanding the Assura development team to […]
NewRiver REIT (NRR) has announced that its joint venture with BRAVO Strategies III LLC (BRAVO), in which it holds a 10% stake, has exchanged contracts to acquire The Moor, a 28 acre estate in Sheffield city centre. The estate is being acquired from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 […]
Civitas Social Housing (CSH) has announced that the Company has secured a new seven year term, interest only, loan facility of £84.55m from M&G Investment Management Limited, a new lender to the Company. The new facility is priced at 2.75% above a fixed rate set by reference to the LIBOR swap rate of the loan […]
Urban Logistics REIT (SHED) has announced the acquisition of six logistics assets for a total consideration of £27.8 million at a net initial yield of 6.87%. The acquisitions include the Kinaxia portfolio (four logistics assets purchased from Kinaxia Logistics), a logistics asset in Leigh and a logistics asset in Rotherham. The Kinaxia Portfolio On 17 […]
Jupiter UK Growth (JUKG) has issued a circular detailing its reconstruction and wind up proposals. This follows on from JUKG’s previous announcements in January that terms had been agreed with Brown Advisory Funds Plc for a rollover into the Sterling Class B Distribution Shares in Brown Advisory Global Leaders Fund, or, alternatively, shareholders could opt […]
