In QuotedData’s morning briefing 29 April 2025: We also have: Stories you may have missed from yesterday
NB Private Equity Partners (NBPE) has announced its audited results for the year ended 31 December 2024, during which it delivered an NAV total return of 1.5%. NAV per share stood at US$27.53 (£21.98) at the year-end, supported by decent operating performance from portfolio companies, with average revenue and EBITDA growth of 8.0% and 13.1% […]
Marwyn Value Investors (MVI) has announced strong results for the year ended 31 December 2024, delivering a NAV total return of +19.4%, significantly ahead of the FTSE SmallCap (ex-IC) Index, which it says returned 13.8%. The share price total return was even stronger at +26.6%. MVI paid £5m of dividends during the year (equivalent to […]
In QuotedData’s morning briefing 28 April 2025: [QD comment MR: We have repeatedly commented how there is significant value in the UK market and particularly in funds such as BGUK that also have a strong growth bias. It is interesting to see large institutional players, such as City of London, taking advantage of this.] We […]
Very few pockets of the investment universe have escaped the tariff turmoil, but could the real estate sector prove a safe haven while volatility and uncertainty prevail? With global markets sent into a tailspin following “Liberation Day” in early April – when the US president imposed penal, “reciprocal” tariffs on every nation in the world, […]
Aquila European Renewables (AERI) has published its annual results for the year ended 31 December 2024, confirming a shift in strategic direction as shareholders approved a managed wind-down of the company in September. The shift in strategy follows continued market headwinds, underperformance across parts of the portfolio, and ongoing structural challenges within the listed renewables […]
Ecofin US Renewables Infrastructure Trust (RNEW) has reported its audited results for the year ended 31 December 2024, marking a difficult period for the company as it navigates a managed wind-down process. The company’s net asset value (NAV) fell by 47.5% during the year to $61.7m (44.7 cents per share), reflecting operational underperformance, asset impairments, […]
In QuotedData’s morning briefing 25 April 2025: [QD comment MR: While the continuation vote passed comfortably, the 10.5% dissent shouldn’t be dismissed. It reflects a degree of shareholder frustration, likely linked to ongoing sector-wide issues such as rising interest rates, wide discounts to NAV, and reduced investor appetite for income-generative infrastructure funds. That said, UKW […]
Supermarket Income REIT (SUPR) has entered into a strategic joint venture (JV) with funds managed by Blue Owl Capital, a leading US alternative asset manager. The JV has been seeded with eight high yielding, omnichannel supermarket assets from SUPR’s existing portfolio, which have been transferred into the JV at a 3% premium to book value […]
Chelverton UK Dividend Trust (SDV) has announced that the proposed placing of new zero dividend preference shares (ZDPs) in 2031 ZDPCo will not proceed due to insufficient demand amid continued market volatility. As a result, the previously proposed Scheme of Reconstruction has also been cancelled. Despite some investor support, the challenging market backdrop has led […]
Syncona Limited (SYNC) has announced that its portfolio company, Mosaic Therapeutics, has in-licensed two clinical-stage assets from Astex Pharmaceuticals, a subsidiary of Otsuka Pharmaceutical Co., Ltd. The deal marks a significant step forward for Mosaic’s targeted oncology strategy and is expected to accelerate the company’s development timeline. The agreement grants Mosaic exclusive rights to develop […]
Bellevue Healthcare Trust (BBH) has announced the adoption of a new zero discount policy, aiming to ensure that its shares trade consistently at or around net asset value (NAV) under normal market conditions. Under the new framework, the company will buy back shares if they trade at a discount to NAV and may issue new […]
In QuotedData’s morning briefing 24 April 2025: We also have: Stories you may have missed from yesterday:
The offer timetable for BBGI Global Infrastructure’s (BBGI) recommended cash acquisition by Bidco, a vehicle indirectly controlled by British Columbia Investment Management Corporation (BCI), has officially resumed after all regulatory conditions were met. The deal, first announced on 6 February 2025, had been paused on 11 April pending UK foreign direct investment clearance under the […]
Gresham House Energy Storage Fund (GRID), the UK’s largest utility-scale battery storage fund, has reported a strong operational recovery in its full-year results for 2024, despite a challenging start to the year. While NAV per share fell 15.3% to 109.35p (from 129.07p in 2023), operational and financial performance strengthened notably in the second half, positioning […]
In QuotedData’s morning briefing 23 April 2025: We also have: Stories you may have missed from yesterday
Fair Oaks Income Limited (FAIR) has reported a robust set of annual results for the year ended 31 December 2024, with both its 2021 shares and realisation shares delivering strong double-digit total returns and dividend yields well above the broader credit market. The trust’s NAV total return for the 2021 shares came in at 14.91%, […]
Franklin Global Trust (formerly Martin Currie Global Portfolio Trust) has released its annual results for the year to 31 January 2025, marking a pivotal year in its evolution. The trust delivered a NAV total return of 7.3% and a share price total return of 10.1%, both in positive territory, but underwhelming when compared to the […]
The North American Income Trust (NAIT) has reported a significantly improved performance for the year ended 31 January 2025, following its transition to Janus Henderson Investors as manager in August 2024. The portfolio manager Fran Radano moved across to Janus Henderson with the trust and is now supported by Jeremiah Buckley as co-manager. During the […]
In QuotedData’s morning briefing 22 April 2025: We also have: Stories you may have missed from Thursday
The UK’s beleaguered listed battery storage sector has found itself thrust back into the spotlight this week after a group of funds, controlled by Foresight Group, launched a surprise bid for Harmony Energy Income Trust (HEIT). The Foresight funds’ bid trumps a previous bid from Drax Group for HEIT at 88p per share. Drax’s offer […]
Third Point Investors has published results for the year ended 31 December 2024. key highlights are as follows: On 22 April 2024, the board created a strategy committee tasked with conducting a strategy review to consider how the company may best deliver value to shareholders going forward. On 11 December 2024, the company announced that […]
Circulars have been published today to support the proposed merger between JPMorgan Global Growth and Income and Henderson International Income. The proposal was announced in February and although markets have had a wobble since, nothing has changed in the detail although the JPMorgan trust has given back some of its long term outperformance of the […]
Fidelity Japan’s board has been talking to its shareholders post the announcement of its results and ahead of the upcoming continuation vote at its AGM. It now has the impression that shareholders will not support its continuation. It also says that it has subsequently received a small number of unsolicited and credible indicative proposals from […]
Harmony Energy Income has received a new cash offer from PP Bidco (a new company formed by two funds managed by Foresight LLP). The bid is 92.4p per share, equivalent to the trust’s last published net asset value and well above the 88p per share offered by Drax, and values the company at £209.9m. The […]
In QuotedData’s morning briefing 17 April 2025: We also have: Did you see from yesterday?
Pacific Horizon Investment Trust (PHI) has announced plans to introduce a performance-linked conditional tender offer that could see up to 25% of its issued share capital (excluding treasury shares) repurchased, depending on how the trust performs over the next five years. The proposed tender offer, due to be assessed at the end of a performance […]
abrdn Diversified Income and Growth (ADIG) has announced the commencement of a secondary sales process to accelerate the realisation of its remaining private markets portfolio. The company has appointed Campbell Lutyens as an independent broker to lead the process, which the board believes will optimise value and support the trust’s managed wind-down. The decision follows […]
Life Science REIT reported a 6.9% fall in EPRA net tangible assets (NTA) in annual results for 2024, laying bare the company’s struggles that led to its board launching a strategic review and putting it up for sale. EPRA NTA at the end of 2024 was 74.4p, down from 79.9p at the end of 2023, […]
ICG Enterprise Trust (ICGT) has announced the realisation of its investment in Minimax, a global fire protection systems provider, generating cash proceeds of €53m (£45m). The sale was completed in line with the last reported NAV, and proceeds have now been received. ICGT first backed Minimax in 2018 via primary commitments to ICG Europe VI […]
