Shake up at Aberdeen Diversified Income and Growth. The board and the manager have together conducted an extensive review of strategy to see how best to provide investors with growing income and capital that was expected when Aberdeen Standard Investments took on the mandate in 2017. We reproduce this part of the statement here: “As a […]
In QuotedData’s morning briefing 17 December 2020: Schroder BSC Social Impact Trust has raised gross proceeds of £75m from its IPO. The company will use part of the net proceeds to acquire seven assets from Big Society Capital with the balance of the net proceeds to be invested in accordance with the company’s investment policy and/or used […]
Retail park investor and developer Ediston Property Investment Company has delivered a net asset value (NAV) total return for the year to 30 September 2020 of -16.6% as COVID impacts the value of its properties. Operationally, the year was a strong one despite the effects of the pandemic. The group carried out eight asset management […]
Ceiba looks forward with confidence – CEIBA Investments Limited has updated investors on trading, operations and investments, in particular with respect to its expected operational result over 2020, its investments in the mixed use multi-phase industrial park to be located in the Special Development Zone of Mariel, the construction of the 400 room beachfront hotel Meliá […]
Urban Logistics buys three assets – Urban Logistics has bought three logistics assets in Huntingdon, Northampton and Fareham. The total cost was £22.9m which was funded from the company’s recent fundraising. Richard Moffitt, chief executive, commented: “These logistics assets are well located in the Midlands and South East for delivering essential goods the “last mile” to customers and […]
In QuotedData’s morning briefing 16 December 2020: Ruffer backs Bitcoin – in a surprise move, the trust says “One recent addition, via one of the specialist managers appointed within the Ruffer Multi-Strategies Fund, has been bitcoin. This is primarily a defensive move, one made in November after reducing the company’s exposure to gold. The exposure to […]
The impact of the COVID-19 pandemic on London’s West End was laid bare in Shaftesbury’s full year results, which saw net asset value (NAV) fall 24.3%. The company, which owns a 16-acre portfolio of assets in London’s West End including Carnaby Street, posted an EPRA NAV of £7.43 per share at 30 September 2020 (2019: […]
Grit Real Estate Income Group, the pan-African real estate company, has reported a big drop in net asset value (NAV) as a result of the impact of COVID-19 on its retail and hospitality properties. The group’s NAV per share for the year to the end of June 2020 was US$1.186 compared to US$1.471 at June […]
SEGRO has acquired a controlling stake in Euronext Paris listed company Sofibus Patrimoine, which owns a portfolio of urban logistics assets in Paris. SEGRO already owned a 19.5% stake in the company and today has bought a further 74.9% for €178.6m – valuing the company at €238.5m. When the transaction completes SEGRO will own 94.4% […]
Gulf Investments survives tender offer – 40,643,418 shares were tendered, equal to 43.96% of the shares in issue. The post tender offer share capital will therefore be 51,817,824 shares, above the minimum size condition set out in the tender offer circular to shareholders. The directors will allocate the assets and liabilities of the company between a […]
Well-deserved expansion for Ecofin Global – Ecofin Global Utilities and Infrastructure Trust has published results for the year ended 30 September, 2020. Highlights During the financial year ended 30 September, 2020 the company’s net asset value per share decreased by 2.6% and the price of an ordinary share increased by 5.6%, both on a total return basis […]
Law Debenture buys company secretarial business – The Law Debenture Corporation has entered into a binding agreement to acquire the company secretarial unit of Konexo UK, a division of Eversheds Sutherland International LLP. The total consideration is £20m, payable in cash. For the financial year ended 30 April 2020, this unit recorded revenues of £6.2m and estimated EBITDA […]
Polar Cap Global Healthcare caught out by COVID – Polar Capital Global Healthcare has published results for the year ended 30 September 2020. The NAV return for the period was 14.1%, a bit behind the return on the benchmark index (MSCI ACWI Health Care Index) of 15.9%. As the discount widened, shareholders were left with a […]
In QuotedData’s morning briefing 15 December 2020: Triple Point Social Housing has secured an increase to its existing Revolving Credit Facility (RCF jointly provided by Lloyds Bank and National Westminster Bank. The RCF will increase from £130m to £160m. The term has been extended by a year to 20 December 2023 and comes at 1.85% over LIBOR. […]
Tritax EuroBox, the Continental European logistics investor, has let 25,607 sqm of logistics space in Breda, the Netherlands, to Samsung SDS, the IT arm of Samsung Group. The lease, which has been agreed for a three-year term subject to annual CPI uplifts reflecting 100% of the Dutch Consumer Price Index, includes green clauses that ensure the […]
The Scottish Investment Trust (SCIN) has announced its annual results for the year to 31 October 2020, during which it has notched up its 37th consecutive year of dividend increase (an increase of 1.8% to 23.2p per share). During the year, SCIN provided share price and NAV total returns of -12.0% and -10.6% respectively, which […]
Schroder AsiaPacific (SDP) has announced its annual results for the year ended 30 September 2020, during which it beat its benchmark by a significant margin and has secured a cut in fees. During the year, SDP provided NAV and share price total returns of 17.7% and 19.7% respectively, both of which are markedly ahead of […]
Irish Residential Properties REIT (IRES) has announced that it has executed contracts with Flynn & O’Flaherty Construction for the acquisition of 146 residential units located in The Phoenix Park Racecourse, Castleknock, Dublin 15. The total purchase price is €60 million (including VAT but excluding other transaction costs). IRES expects to complete the acquisition in January […]
Home REIT (HOME) has announced the acquisition of a further twelve separate portfolios of properties located across England for a total purchase price of £64.3 million (including acquisition costs). This takes the total capital deployed by the Company since IPO to £115 million, which is just under 50 per cent. of the net IPO proceeds. […]
In QuotedData’s morning briefing 14 December 2020: Gore Street Energy Storage Fund has announced that it has raised gross proceeds of £60 million by way of an Initial Placing, Offer for Subscription and Intermediaries Offer. The fundraising was significantly oversubscribed and so a scaling back exercise has been undertaken. The net proceeds of the Issue will be […]
QD view – UK clear-out heralds better times The AIC’s UK All Companies sector is set to shrink as shareholders in Jupiter UK Growth choose between cash or a rollover into an open-ended fund, Invesco Perpetual Select UK Equity moves to the UK equity income sector following its planned merger with Invesco Income Growth and […]
QuotedData’s weekly news show 11 December 2020 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: Keystone Jupiter US Smaller Companies RTW Venture Watch it again here We’ll be back on January 8th. This week’s […]
Aberdeen Standard Investments has put its considerable backing behind the logistics real estate sector with the acquisition of Tritax Management. The deal to buy a 60% stake in Tritax and putting it in charge of global real estate logistics, is both a clear sign of the attractiveness of the sector and is testament to the […]
Over BlackRock Frontiers’s (BRFI’s) year to 30 September 2020, its NAV returned -20.0% while the benchmark delivered -15.6%. Performance has been much better over the post reporting period, with the NAV up 27.9% from 30 September to 8 December, compared to the benchmark’s 15.5% return. BRFI’s managers, Sam Vecht and Emily Fletcher, believe that the value […]
Polar Capital Technology (PCT) has published unaudited results for the half-year to 31 October 2020. In NAV per share terms, PCT returned 28.1%, while the market return came in at 18.1%. The benchmark Dow Jones World Technology Index delivered a return of 23.9%. ‘Internet and software subsectors lead relative performance’ PCT’s manager, Ben Rogoff, had this to say: “Internet companies […]
In QuotedData’s morning briefing 11 December 2020 – Over its half-year period to 31 October 2020, Atlantis Japan Growth (AJG) delivered a total NAV return of 27.3%. This compares with the TOPIX total return index of 7.3%. In the results release, it is noted that “the manager believes that Japan’s economy has bottomed out and has […]
RTW’s Rocket takes off on good clinical data – RTW Venture Fund notes positive data updates on four clinical trials of Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT). This is the largest holding in RTW’s portfolio, representing about 30% of NAV. Rocket is advancing an integrated and sustainable pipeline of first-in-class genetic therapies that correct the root cause […]
Edinburgh Worldwide NAV soars – Over the year to 31 October 2020 Edinburgh Worldwide’s NAV (including income) rose by 57.8% and the share price by 63.9%. The comparative index, the S&P Global Small Cap Index total return, increased by 0.4% in sterling terms. There is no final dividend. Portfolio turnover was 8.4% compared to 4.5% in 2019 […]
Boussard & Gauvadan manager opposes tender – Boussard & Gavaudan Holding has repurchased 1,629,532 shares (about 10.5% of its issued share capital), updated its website and revised the format of its newsletters in an attempt to narrow its discount over the past 12 months. Performance during 2020 has been positive, year to date the NAV has grown […]
JPMorgan China reports on exceptional year – JPMorgan China Growth and Income has published results covering the year ended 30th September 2020. As the chairman says, the company achieved exceptional returns for the year, with a 66.1% total return on net assets with dividends reinvested and an 82.6% return to shareholders. This compares to the return of […]
