In QuotedData’s morning briefing 28 January 2021: VH Global Sustainable Energy Opportunities raised £242.6m from its IPO. Dealings in the ordinary shares will commence at 8.00 a.m. on 2 February 2021. CATCo Reinsurance Opportunities says its unaudited NAVs for the ordinary shares and C shares were $0.2828 and $0.5071 respectively, as at the close of business on […]
BMO Real Estate Investments (BREI) has posted a 3.5% rise in its net asset value (NAV) for the quarter to 31 December 2020. The unaudited NAV was 98.1p per share (30 September 2020 : 94.8p), the increase driven by a 2.4% increase in the value of its property portfolio to £317.8m. With the 0.85p quarterly […]
Real Estate Investors, which owns a portfolio of property in the Midlands, collected 95% of rent in 2020, including agreed deferred payments. For the first quarter of this year it has collected close to 90%, including deferred payments. Portfolio update The group said occupancy on its 53-asset strong portfolio was 91.6% at 31 December 2020 […]
Warehouse REIT has collected 96% of rent for its financial year to the end of March 2021, it announced as part of a trading update. For the current quarter, it has received 95% of rent (including 3% that has been deferred). This, it said, was higher than the equivalent date for the previous three quarters. […]
The direct lending sector fund, KKV Secured Loan (KKVL), formerly SQN Asset Finance Income), reported its annual results for the year-ending period to 30 June 2020. In NAV total return terms, the ordinary shares delivered -56.1% and the C shares -25.0%. The period-ending discounts for the ordinary and C shares were 11.9% and 16.4%. We […]
Octopus Renewables Infrastructure (ORIT) has successfully refinanced its portfolio of operational solar PV assets in France, which was acquired in July 2020. ORIT notes that the new €125.7m fully amortising debt facility, provided by Allied Irish Banks p.l.c., Société Générale and La Banque Postale, extends the maturity date of the financing by over 5 years to […]
JPMorgan Russian (JRS) had a tough trading year to 31 October 2020, with its total market return coming in at -17.0%. The benchmark RTS index fared worse, registering a decline of -20.7%. As at 31st October 2020, the discount was 11.2%, unchanged from the previous year-end date. JRS’s total NAV return was -17.5%. In her review, […]
In QuotedData’s morning briefing 27 January 2021 – Henderson Smaller Companies (HSL) delivered total NAV and share price returns of 20.6% and 27.7% over its six-months interim results period to 30 November 2020. HSL said that its NAV performance was 6.3% ahead of the average of our peers in the AIC UK smaller companies sector. 3i […]
Watch the video below provided by AVI for more information on how they construct their portfolio and an explanation of their unique strategy to investing which has ensured their NAV total return was +11.7% compared to the benchmark of +8.2%. Click here to view our recent research note on AVI Global Trust – Double discount […]
LXI REIT has reported a 1.7% rise in the value of its long-income property portfolio in the quarter to the end of December 2020. The group said its portfolio had been independently valued at £907.25m. It said the increase was mainly down to its large exposure to the industrial and foodstore sectors, which are benefitting […]
Regional REIT collected 92.4% of rent for 2020, the company said in a market update. This increases to 95.5% when agreed monthly payments and collection plans are accounted for. This, it said, was in line with the 96.9% of rent collected at the same point for 2019. A breakdown of the quarterly rent collection rates […]
Another impressive set of results from Standard Life Private Equity – Standard Life Private Equity (SLPE) has announced results for the year ended 30 September 2020. Over the period the trust produced an NAV total return of 11.7%. This compares to a return of -16.6% from the All-Share Index. The total shareholder return was -4.6%. [Here is […]
Oakley Capital makes Idealista purchase – Oakley Capital says its Oakley Capital Fund IV has agreed to make a minority investment in idealista, a leading online real estate classifieds platform in southern Europe (Spain, Italy, and Portugal). Fund IV will invest €175m alongside the management team of idealista and EQT, who will remain the majority shareholders […]
In QuotedData’s morning briefing 26 January 2021: Apax Global Alpha is investing €20m (indirectly, through its investment in Apax X Fund) in PIB Group, a leading independent specialist insurance intermediary launched in 2015. PIB is a highly diversified insurance distribution consolidator focusing on specialist commercial lines and non-standard personal lines products with deep expertise across both direct […]
Home REIT, the recently launched fund that focuses on providing accommodation to the homeless, has acquired a further 171 properties for £69.5m. The acquisitions, in 11 separate portfolios, mean the company has now deployed £184m (or 78%) of the money raised in an IPO in October 2020. The properties, which add a further 798 beds […]
Sirius Real Estate, the owner and operator of German business parks, and joint venture partner AXA IM Alts have acquired the Sigma Technopark in Augsburg for €80m. The acquisition for the ‘Titanium’ joint venture was at a net initial yield of 6% and increases the size of the portfolio to €317m. The seven business parks […]
Cordiant Digital Infrastructure plans IPO – Cordiant Digital Infrastructure Limited has announced its intention to launch an initial public offering and to admit its shares on the Specialist Fund Segment of the Main Market of the London Stock Exchange. The company will seek to generate capital growth and a progressive dividend, through investment in the core […]
Supermarket Income REIT has acquired a Sainsbury’s and Waitrose supermarket for £64.8m, representing a 4.4% net initial yield. The Sainsbury’s store in Melksham, Wiltshire, totals 47,000 sq ft and includes purpose-built online fulfilment distribution docks, supporting online delivery. The lease length on the property is 17 years and comes with annual, upwards only, RPI-linked rent […]
AEW UK REIT reports a 3.2% increase in net asset value (NAV) in the quarter to the end of December 2020. The value of the group’s portfolio notched up 3.4% to £182.65m, which was behind the rise in NAV from 92.73p to 95.87p. The company maintained its dividend for the quarter of 2p per share, […]
Switzerland’s BB Biotech (SIX:BION) has made a $130m investment in Biogen, a US large cap biotech company that would normally fall outside its small-to mid cap investment area, in a bid to capitalise on the possible approval over the next few weeks of an Alzheimer’s therapy that has been largely written off by the market. […]
The UK smaller companies sector fund, Aberforth Split Level Income (ASIT), has reported interim results for the half-year to 31 December 2020. With its year-end period going to June, the bulk of the pandemic’s market impact took place over the second half of the company’s most recent financial year-end to June. ASIT’s total assets, which […]
In QuotedData’s morning briefing 25 January 2021: RM Secured Direct Lending (which featured on the weekly show a couple of weeks ago) has received an increased allocation from the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS). RM Funds was initially granted an allocation of HM Government Guarantee capacity in August 2020. This […]
Keystone Investment Trust has been around for over 50 years. From 2003 it was managed by Mark Barnett at Invesco Perpetual. He handed over the reins to his colleague James Goldstone in 2017. The trust was run with Invesco’s ‘value with a bit of spice chucked in’ style. For much of the period under Mark’s […]
QuotedData’s weekly news show 22 January 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: Jupiter Green’s new manager Hipgnosis – another acquisition and another fundraise River & Mercantile Micro Cap update Watch it […]
This week saw the seventh change in chief executive of a listed property company since the start of the pandemic. Regeneration specialist U and I Group (UAI) parted ways with Matthew Weiner, who had held the role for six years and been at the company for more than 20, and replaced him with chief development […]
River and Mercantile Micro Cap will hand back cash – The board of River and Mercantile UK Micro Cap intends to undertake a compulsory redemption of the trust’s redeemable ordinary shares. The trust’s redemption mechanism is used periodically to return capital to shareholders so as to return the company’s net asset value to around £100m (in […]
Switzerland’s BB Biotech (SIX:BION) recorded a solid investment performance in 2020 despite the volatile markets, according to its preliminary report. The trust saw a 16.4% rise in NAV (with a 12 % rise in share price) over the year, with a 20.6% gain in portfolio value (25.5% in US dollars) and the share price up […]
In QuotedData’s morning briefing 22 January 2021: Utilico Emerging Markets (UEM) has made a statement in relation to US Executive Order 13959. This order, which was signed by Trump in the final days of his presidency, prohibits US Persons from purchasing publicly traded securities of 35 Chinese companies identified as Communist Chinese Military Companies. UEM has confirmed […]
NewRiver REIT has updated on its rent collection figures and reported a collection rate for the current quarter of 70%. This, it said, was tracking ahead of previous quarters at the same number of days after billing, which have now seen 82% collected for the fourth quarter of 2020, 83% for the third quarter and […]
Another acquisition and another fundraise from Hipgnosis – Hipgnosis has acquired 100% of Bob Rock’s producer rights for Metallica’s ‘Metallica’ and Michael Bublé’s ‘Call Me Irresponsible’, ‘Crazy Love’, ‘Christmas’ and ‘To Be Loved’, which in total comprise 43 songs. It has also announced an issue of ordinary shares at 121p and plans to issue more C […]
