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 […]
In QuotedData’s morning briefing 10 December 2020: Riverstone Energy got through its discontinuation vote – shareholders voted against the resolution by 88.8% to 11.2%. Baring Emerging EMEA Opportunities reported an NAV total return of -22.3% for the year ended 30 September 2020 compared to a return on its benchmark of -22.6%. The trust’s Turkish exposure held it […]
Aberdeen Standard Investments (ASI) is set to acquire a 60% interest in Tritax Management, the fund manager behind Tritax Big Box REIT and Tritax EuroBox. The move by ASI comes as it looks to strengthen its offering in the growing logistics real estate market. Tritax specialises in logistics and has around £5.1bn assets under management […]
The past year has been highly challenging for Electra Private Equity (ELTA). In its annual results announcement this morning (covering the period to 30 September 2020), chairman, Neil Johnson, noted: “The emergence of the pandemic and the resultant impact on equity market values has had the effect of reducing the combined valuation of our three larger […]
Following on from its $282m IPO last month, Round Hill Music (RHM) will issue new ordinary shares under the terms of its placing programme. The shares will be issued at a price of US$1.01. In this morning’s announcement, it is noted that “RHM has identified a seasoned portfolio of iconic catalogues with established steady-state revenues that […]
The Board of Jupiter US Smaller Companies (JUS) has announced that it intends to appoint Brown Advisory as the Company’s investment manager. Brown Advisory will manage the Company using its US Small-Cap Growth Strategy, which invests primarily in the shares of small US companies possessing above-average growth potential. The appointment is subject to the satisfaction […]
RTW backs Nuance Pharma – RTW Venture Fund backed Nuance Pharma in its $181 million Series D financing round, which was co-led by the fund’s investment manager RTW Investments, LP. Nuance is a Chinese-based privately held fully integrated pharmaceutical company engaged in creating value through China’s specialty pharmaceutical markets, with an established focus on iron deficiency, […]
Gabelli Value shareholders reject continuation (again) – At the General Meeting held on 7 December 2020, none of the resolutions set out in the notice of General Meeting dated 11 November 2020 were passed on a poll. The voting was 35.6% for : 64.4% against on each resolution. We’re going to reproduce the next section of […]
Lowland hit by industrials and insurance exposure – Lowland has announced results for the year ended 30 September 2020. Lowland’s NAV declined by 24.8% during the year, and its share price by a similar amount. These declines compare with a fall in the company’s benchmark, the All-Share index, of 16.6%. The dividend has been increased by 0.5p […]
LondonMetric lets Birmingham logistics warehouse – LondonMetric Property has exchanged contracts with a global retail company on a new 15 year lease at an annual rent of £1.6 million, subject to upward only inflation linked rent reviews, at its Tyseley development near Birmingham. The 120,000 sq ft last mile logistics warehouse will mark the completion of […]
Aberdeen Standard European Logistics recognised for environmental improvements – Aberdeen Standard European Logistics has been awarded four Green Stars out of a maximum of five in the recently released survey of GRESB (Global Real Estate Sustainability Benchmark). This latest scoring reflects the progress made to date with regards to environmental, social and governance (“ESG”) factors thanks to […]
In QuotedData’s morning briefing 8 December 2020 – Syncona’s Autolius reported positive results in its ALLCAR Phase 1 study, where it is using AUTO1 to treat Adult Acute Lymphoblastic Leukemia. COVID has delayed phase 2 – it says that “…enrolment projections have had to be adjusted. We now expect to enroll patients throughout 2021 with a […]
Land Securities has acquired a City of London office building for £87m, reflecting a net initial yield of 4.1%. The company has bought 55 Old Broad Street, EC2, which comprises 100,000 sq ft, from PGIM Real Estate. The 10-storey building wraps around Land Securities’ City office tower Dashwood and is located a two minute walk […]
Warehouse REIT has acquired an industrial estate in Milton Keynes for £17.5m. The company has bought the Granby Industrial Estate, which comprises 24 urban logistics and trade counter units, for a net initial yield of 5.7%. The 10-acre estate offers 147,000 sq ft of gross lettable area which is let to 16 tenants, across 19 of […]
CLS Holdings has exchanged contracts to acquire two office properties in Berlin, Germany, and Watford, United Kingdom, for a combined total of £55.9m. In Berlin, the group has bought Kaiserin-Augusta-Allee 112 & 113 for €43.5m. The asset is comprised of two adjoining building and has six storeys totalling 93,775 sq ft. It is currently 29% let following the […]
Marwyn launches three new investment vehicles – Marwyn Value Investors Limited has announced that three new UK listed acquisition companies, Marwyn Acquisition Company I Limited, Marwyn Acquisition Company II Limited, and Marwyn Acquisition Company III Limited have been admitted to the standard segment of the Official List and to trading on the London Stock Exchange’s Main Market. The […]
Keystone (KIT) announces that it has decided, subject to contract and to shareholder approval, to appoint Baillie Gifford & Co Limited (Baillie Gifford) as its manager using its ‘Positive Change’ investment strategy, a global equity strategy which seeks to provide attractive investment returns while contributing towards a more sustainable and inclusive world. Structural challenges led to […]
Sequoia Economic Infrastructure Income’s (SEQI’s) portfolio consists of 74 investments made across 8 sectors, 28 sub-sectors and 12 mature jurisdictions. The company has this morning published interim results covering the period to 30 September 2020. Over the first half period, the company’s NAV delivered a total return of 6.9%, while the market return came in at a stronger 14.4%. SEQI […]
JLEN Environmental Assets Group has announced that it has acquired a portfolio of five biomethane Compressed Natural Gas (CNG) refuelling stations for heavy goods vehicles (HGVs), located in the UK. The investment has been made alongside other Foresight funds and the developer and operator of the stations, CNG Fuels Limited (CNG Fuels). JLEN will also […]
The proposed debut listing on the International Property Securities Exchange (IPSX) has been postponed. The initial public offering (IPO) of shares in the Mailbox REIT, which owns the Mailbox, a large prime office-led mixed use property in Birmingham, has been postponed due to a potential acquisition of M7 Real Estate by a global institutional commercial […]
QuotedData’s weekly news show 4 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: Polar Capital Global Financials’ remarkable share price rise Invesco Income Growth’s planned merger Golden Prospect Precious Metals’ influx […]
On Tuesday next week we will hold the third and final day of our ESG conference and the main focus will be on governance. The importance of this area to investors cannot be understated. Just think of the damage done at BHS, Carilion, Wirecard, Patisserie Valerie, Boohoo and Volkswagen. It wasn’t just investors taking the […]
The retail Armageddon took another sobering twist this week, with the liquidation of department store Debenhams and former high street fashion kingpin Arcadia Group going into administration. The headline numbers are shocking, the main one being that around 25,000 jobs are at risk. From a property point of view, the double collapse could see up […]
Gravis Capital Management Limited (Gravis), the manager of GCP Infrastructure, GCP Student Living and GCP Asset Back Income, has announced that it has entered into a strategic partnership with ORIX Corporation (ORIX) whereby ORIX will acquire a 70% equity stake in the Gravis business. ORIX is a diversified financial services group. The announcement says that ORIX’s […]
Landsec has announced that it has exchanged contracts to sell 1 & 2 New Ludgate to Sun Venture for a cash consideration of £552m. Completion is expected to take place by the end of December 2020 and is unconditional. Landsec says that the proceeds will initially be used to pay down debt before being reinvested […]
Great Portland Estates (GPE) has announced it has let 17,700 sq ft of office space at The Hickman development at 2/4 Whitechapel Road, E1 to Four Communications Group Limited (Four), an integrated marketing and communications agency. Four will occupy the offices on the fifth, sixth and seventh floors at The Hickman on ten-year leases (with […]
