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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).

29 Jan 2024
Marble Point Loan Financing : MPLF

Marble Point Loan Financing requisitioned to speed up liquidation

Marble Point Loan Financing (MPLF) is convening EGMs (for both its liquidating share class and ordinary share class) following the receipt of a requisition notice from Freestone Advantage Partners III LP to consider proposals for amending MPLS’s articles of incorporation to allow for a liquidating share opportunity every year (rather than every other financial year […]

Sectors
26 Jan 2024

QD view – So long MATE

As we covered on our Wednesday news post, this week saw JPMorgan Multi Asset Growth & Income (MATE) announce its merger with JPMorgan Global Growth & Income (JGGI). For fans of investment companies, this story may seem familiar as JGGI has already swallowed up the Scottish Investment Trust and JPMorgan Elect. MATE’s board outlined several […]

Sectors
26 Jan 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 26th January 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: • Asia Energy Impact (0:47) • JPMorgan Multi-Asset (5:10) • abrdn Private Equity Opportunities (8:26) This week’s interview was with Nick Montgomery and Bradley Biggins […]

Sectors
Companies
26 Jan 2024
New investment trust Smithson raises £822m

Smithson outperforms but hopes for greater absolute performance in the future

Smithson (SSON) has published its manager’s review for the year ended 31 December 2023, during which its net asset value per share (NAV) increased by 13.3% and its share price increased by 8.2%. In comparison, the MSCI World Small and Mid-Cap Index (‘SMID’), SSON’s reference index, increased by 9.1% during the same period. 2023 saw […]

Sectors
25 Jan 2024
an Action delivery truck

abrdn Private Equity Opportunities launching buyback programme

The sale of a €34.6m stake in European supermarket group Action has freed up funds that abrdn Private Equity Opportunities now intends to use to fund a share buyback. [The trust’s discount is – in our view – ridiculously and unjustifiably wide. Currently it trades on a 38.4% discount to an NAV that is likely […]

25 Jan 2024
handshake in a boardroom

Bluefield Solar progresses deal with GLIL Infrastructure

Bluefield Solar has progressed the deal with GLIL Infrastructure that was announced late last year. It has invested £20m in the joint venture partnership that is acquiring the Lightsource bp portfolio of solar assets. The 58 operating site Lightsource bp portfolio is comprised of: 184MW backed by Feed in Tariff (FiT) subsidies, 15MW by Renewable […]

25 Jan 2024
plastic cats - loads of them

Another good year for CC Japan 

Market conditions in Japan continue to suit CC Japan Income and Growth which has just reported an NAV return of 18.9% for the year ended 31 October 2023, well ahead of the 12.0% return reported on TOPIX, the benchmark. Shareholders got a return of 20.9% as the discount narrowed. Returns would have been higher but […]

25 Jan 2024
bundles of newspapers tied up with string

QuotedData’s morning briefing 25 January 2024 – IAT, CORD, GRIT, GABI, AEWU, WKP

In QuotedData’s morning briefing 25 January 2024: Invesco Asia (IAT) says that from 1 May 2024, its two co-portfolio managers will swap roles, with Fiona Yang taking the lead from Ian Hargreaves, but will both continue to work very closely together on the portfolio. The directors say that they have been impressed by Fiona’s contribution […]

Companies
24 Jan 2024
klarna logo on pink background

Klarna IPO excitement lifts Chrysalis

The Chrysalis share price has been rising in recent days on the back of hope that Klarna, one of its largest investments, was considering an IPO. The CEO Sebastian Siemiatkowski was interviewed recently by Bloomberg and talked about his thoughts on an IPO of the company. The valuation of Klarna was written up and then […]

Sectors
24 Jan 2024
JPMorgan Japanese outperforms the benchmark for the year

Proposed merger of JPMorgan Multi-Asset Growth & Income and Global Growth & Income funds

JPMorgan Multi-Asset Growth & Income (MATE) and JPMorgan Global Growth & Income (JGGI) have announced that the two companies have agreed heads of terms in respect of a proposed rollover of assets from MATE to JGGI. MATE shareholders will receive new shares in JGGI which will provide them with exposure to a diversified portfolio of […]

Sectors
24 Jan 2024
221202 QD View - Europe recession

Only way is up for JPMorgan Emerging Europe, Middle East and Africa

JPMorgan Emerging Europe, Middle East and Africa Securities (JEMA), formerly JPMorgan Russian Securities, announced its annual results for the period ended 31 October 2023. The company’s performance over the 12 month period was flat, however the managers point out that in the eight months from 1st March 2023 to 31st October 2023, the company’s net […]

Sectors
24 Jan 2024

Troy Income & Growth provides positive outlook despite challenges

Troy Income & Growth (TIGT) announced its annual results for the year ended 30 September 2023. The company delivered a NAV per share total return of +6.6% and a share price total return of +6.3% over the year to 30 September 2023. Over the same period, the FTSE All-Share Index produced a total return of […]

Sectors
24 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 24 January 2024 – HOME

In QuotedData’s morning briefing 24 January 2024: Home REIT (HOME) has sold a further 103 properties at auction for £6.6m as the manager attempts to stabilise the portfolio. The sales price was 8.4% below the August 2023 valuation [there was no mention on the discount to acquisition cost (as has been the case in previous […]

23 Jan 2024

Asian Energy Impact Trust provides results updates

Asian Energy Impact Trust (AEIT) formerly ThomasLloyd Energy Impact Trust has announced both its audited results for the 12 months ended December 31 2022, and the six months ended 30 June 2023. The earlier results were delayed due to a drawn out dispute and then valuation uncertainty surrounding its investment in SolarArise Rewa and the […]

23 Jan 2024
The Hipgnosis elephant going downhill

Hipgnosis Songs Fund provides strategic review update

As a result of the failed continuation vote of Hipgnosis Songs Fund (SONG), where 83% of shareholder votes were cast against the resolution, the newly constituted board is continuing its strategic review looking at all options to be considered for the future of the company, with the aim of maximising value for shareholders. As announced […]

23 Jan 2024

Downing Renewables & Infrastructure announces acquisition of its first Icelandic asset

Downing Renewables & Infrastructure (DORE) announced that it has acquired its first Icelandic asset, a 1.1MW hydropower plant, located in south-central Iceland with an annual average production of c. 8 GWh. The total investment was c. £5m (EUR 6m). The run-of-river plant has been operational since 2018 and derives its water from both natural springs […]

Sectors
23 Jan 2024

QuotedData’s morning briefing 23 January 2024 – USA, GPE

In QuotedData’s morning briefing 23 January 2024: Baillie Gifford US Growth Trust (USA) announced an update for the six months to November 30, 2023. The company’s share price and NAV  returned 12.3% and 4.1% respectively. This compares with a total return of 7.9% for the benchmark US index. Since launch on 23 March 2018, to […]

Sectors
22 Jan 2024

RTW comes closer to acquiring Arix’s assets

RTW Biotech Opportunities (RTW) has provided an update on Arix and its capital allocation plan. RTW has now completed the previously announced $57.1m acquisition of a 25.5% stake in Arix. RTW intends to utilise its stake to vote in favour of the “Arix scheme” at Arix’s forthcoming AGM. RTW intends to leverage its position in […]

Sectors
22 Jan 2024

QuotedData’s morning briefing 22 January 2024 – HGT, CREI, WHR

In QuotedData’s morning briefing 22 January 2024: HgCapital Trust (HGT) has announced that it has sold its entire stake in Argus Media, a leading independent provider of intelligence to the global energy and commodity markets. HGT will sell its shareholding to Argus’s current CEO Adrian Binks, and General Atlantic, a major minority shareholder. The transaction […]

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

QuotedData’s weekly news show 19th January 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: • Bankers (0:29) • Hipgnosis Songs (7:08) • API/CREI merger (8:52) This week’s interview was with Purvi Sapre from SDCL Energy Efficiency Income Trust – […]

Sectors
Companies
19 Jan 2024

Scottish Mortgage on Moderna: designing drugs on a computer

Five years from now, Moderna could be synonymous with personalised cancer vaccines, not Covid-19. Chief executive Stéphane Bancel talks with Scottish Mortgage Manager Tom Slater about what can be achieved through programmable drug development. “There are huge areas of unmet clinical need that cause untold human suffering, that [Moderna’s] technology will be able to address.” […]

19 Jan 2024
230526 reit mergers

Custodian Property Income REIT to merge with abrdn Property Income Trust

The boards of Custodian Property Income REIT (CREI) and abrdn Property Income Trust (API) have agreed to a merger of the two companies.  CREI will acquire the entire issued and to be issued share capital of API, with each API share receiving 0.78 new CREI shares The exchange ratio is based on the unaudited EPRA Net […]

Sectors
19 Jan 2024
230601 morning 1

QuotedData’s morning briefing 19 January 2024 – ORIT, VNH, SYNC

In QuotedData’s morning briefing 19 January 2024: Octopus Renewables Infrastructure Trust (ORIT) has announced that it has terminated its option to acquire 175MW of ready-to-build solar projects in Spain. ORIT originally entered into a conditional acquisition agreement over the sites in 2020, but having reassessed the projects “on a risk-adjusted basis” and taking into account […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • UK
Sectors
Companies
18 Jan 2024
handshake against a background of offices

Aquila European manager in tie up with Commerzbank

Aquila Capital Investmentgesellschaft (Aquila European Renewables’ manager) and Commerzbank have entered into a strategic partnership, with Commerzbank buying a 74.9% stake in Aquila Capital Investmentgesellschaft. Aquila Group will remain permanently engaged as a shareholder with its remaining shares and will be responsible for operational and investment continuity. The agreement was signed on 20 December 2023 […]

18 Jan 2024
home reit logo over a picture of a residential street

Home REIT replaces chairman

The chairman of scandal-hit Home REIT, Lynne Fennah, has been replaced by Big Yellow Group director Michael O’Donnell. Fennah will remain on the board as a non-executive director for “continuity”. The remaining directors of Home REIT’s board will all step down when the company publishes its financial results (still no date for this). Fennah and […]

Sectors
18 Jan 2024
mountainous and rocky landscape against blue sky

Edinburgh Worldwide results reflect difficult terrain

Edinburgh Worldwide says that, for the 12 months ended 31 October 2023, its NAV decreased by 23.6% and share price by 27.7%. By contrast, the S&P Global Small Cap Index total return was -4.3% (in sterling terms). The discount ranged between 6% and 23.6%, averaging 17%, and ended the period at 17.4%. Today, the discount […]

18 Jan 2024
a silhouetted cowboy at sunset

Income focus meant Bankers missed out on five of magificent seven

Bankers Investment Trust’s results for the year ended 31 October 2023 show it just failing to match its benchmark (FTSE World Index) in NAV terms and being hit by a widening discount. The NAV total return was 5.2% against 5.7% for the index and the return to shareholders was -0.7%. The year end discount was […]

Sectors
18 Jan 2024

Hipgnosis dangles £20m carrot for prospective bidders

Hipgnosis Songs Fund is proposing that the governing Articles of the company are amended, to enshrine the payment of a fee, at the board’s discretion, of up to £20m (in aggregate) by the company to any prospective bidders who approach the board seeking to make an acquisition of the company’s assets on terms that the […]

18 Jan 2024
coffee cup and milk jug on chequered cloth in black and white

QuotedData’s morning briefing 18 January 2024 – ORIT, ARR, NRR

In QuotedData’s morning briefing 18 January 2024: Octopus Renewables Infrastructure Trust (ORIT) is targeting a total dividend of 6.02p for the current calendar year, up 4% from 2023’s 5.79p. The increase matches UK inflation as measured by CPI, making it three years in a row that it has increased dividends by UK inflation [although the […]

Companies
17 Jan 2024

VNH maintains strong momentum

VietNam Holding Limited (VNH) has published a monthly investor report with the manager highlighting a number of positive economic updates. Trade continued to improve in December 2023 amid growing global complexities, with Vietnam’s trade surplus reaching a record USD 28bn. This not only supports monetary policy easing, but also helps pave a more favourable macroeconomic […]

Sectors
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