Standard Life Investments Property Income reports flat quarter – The NAV at the end of September 2020 was 78.8p, 1% down on the level at the end of June. This was offset by dividends declared and so the NAV return for the quarter was fairly flat at -0.1%. The quarterly dividend was maintained at 0.714p, 60% […]
Over Henderson Far East Income’s (HFEL) annual results period to 31 August 2020, it delivered total NAV and share price returns of -9.9% and -7.8%. These returns compare with a -7.7% result by the MSCI AC Asia Pacific ex Japan high dividend yield index. Despite low interest rates, high yield strategies underperformed, making the backdrop for […]
In QuotedData’s morning briefing 4 November 2020 – It has been a quiet morning of news so far, with all eyes on the US election. Value and Income (VIN) has received notice from OLIM Limited, the investment manager responsible for the management of VIN’s equity portfolio, of its intention to terminate the investment management agreement. The […]
Regional REIT buys Cardiff office – Regional REIT has completed the acquisition of a modern Grade A flagship office building in Cardiff for £8.4m.The four-floor, 61,641 sq. ft. building is set in a 6.0 acre site with some 200 dedicated car parking spaces and is located in Global Reach, Cardiff. They say that it benefits from […]
ICG Longbow headed for the exit – ICG-Longbow Senior Secured UK Property Debt Investments’ board has decided to recommend to shareholders that the investment objective and policy of the company are amended so that it can pursue a strategy of orderly realisation and the return of capital over time to shareholders. The board says that “the […]
In QuotedData’s morning briefing 3 November 2020 Finally, Waterfall has made its offer to investors in Alternative Credit Investments (ex P2P/Pollen Street Secured Lending). The bid is at 870p per share in cash plus a 12p dividend. It values the fund at £639.2m. This is a 6.3% discount to NAV. The bid is recommended by ACI’s […]
When Riverstone Energy launched, it had a performance-driven discontinuation vote built into the structure. This would be triggered if, on 29 October 2020: the trading price for the shares had not met or exceeded £14.70 at any time since the initial admission to listing on 29 October 2013; and the company had not generated a […]
Scottish Oriental Smaller Companies (SST) had a poor year to 31 August 2020, delivering total NAV and market returns of -13.2% and -14.2%. In the announcement, SST notes that the MSCI AC Asia ex Japan and MSCI Asia Ex Japan Small Cap indices returned 10.9% and 7.1%, respectively. We note that at the financial year-end, […]
New IPO from Downing Renewables and Infrastructure Downing Renewables & Infrastructure Trust has published an intention to float announcement. It is looking to raise up to £200m via a placing, an offer for subscription and an intermediaries offer of new shares at 100p each. The sponsor, financial adviser and sole bookrunner is N+1 Singer. The trust will […]
Hipgnosis Songs (SONG) has acquired a portfolio that as at 30 September 2020, comprises 42 catalogues from Kobalt Music Copyrights S.à.r.l. (an investment fund owned by family offices and institutional investors and advised by Kobalt Capital), for a total consideration of $322.9m. The announcement notes that the consideration, net of right to income, represents a blended […]
International Biotechnology Trust’s (IBT) has reported full-year results, to 31 August 2020. IBT’s NAV per share and share price returned 22.4% and 18.7%, whilst the NASDAQ Biotechnology index (NBI) returned 20.6% (to 31 August 2020) and the FTSE All-Share index returned -12.6% (to 28 August 2020). The table below summarises IBT’s cumulative total return performance over […]
In QuotedData’s morning briefing 2 November 2020 – Downing Strategic Micro-Cap (DSM) reported interim results for the six months ended 31 August 2020. The NAV increased by 22.5% from the March 2020 low-point, but was down 5.5% over the period, on a per-share basis. Chairman, Hugh Aldous, noted the following: “I said in May that we […]
We received news on Monday that the planned launch of Buffetology Smaller Companies Investment Trust would not proceed. The statement simply said that overall demand had not been sufficient to meet the minimum gross proceeds. This failure to launch follows hot on the heels of similar news from Tellworth British Recovery & Growth, that we […]
The COVID induced discounts that some UK real estate investment trusts (REITs) are trading on have been grabbing the attentions of investors for many months now. Private equity giant Brookfield Asset Management took a 7% stake in British Land in May and upped it to 9.2% last month, while KKR has snapped up a chunk […]
QuotedData’s weekly news show 30 October 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: a crossroads for UK Mortgages an unwelcome tender offer for shares in Alternative Income REIT Augmentum raising £28m […]
Asia Dragon (DGN) reported annual results to 31 August 2020. The trust, previously known as Edinburgh Dragon, delivered an NAV increase of 4.7% and a market return of 4% (both on a total return basis). DGN’s benchmark, the MSCI Asia ex Japan index, fared better, returning 10.9%. DGN’s manager said that much of the stock market exuberance was fuelled […]
In QuotedData’s morning briefing 30 October 2020 – Augmentum Fintech (AUGM) successfully completed its placing and retail offer, with demand exceeding the issue size. Admission of the new shares to the LSE is expected on 3 November 2020. Tim Levene, CEO of AUGM’s manager, commented: “The success of this fundraise reflects the growing shift in the move […]
Custodian REIT has reported a modest 0.5% fall in net asset value (NAV) for the third quarter of 2020 and updated on rent collection. The company, which owns a diversified portfolio of property assets across the UK with a 47% weighting to the industrial sector, posted a NAV per share of 95.2p at 30 September […]
Octopus Renewables Buys French wind project – Octopus Renewables Infrastructure Trust has completed the acquisition of a 100% interest in the Cerisou wind farm, a construction-ready onshore wind project in the Vienne department of France. The project has been acquired from RES SAS, part of the RES Group, a leading worldwide developer, constructor and manager of […]
Supermarket Income buys Sainsbury’s in Newcastle – Supermarket Income REIT has bought a Sainsbury’s supermarket in Heaton, Newcastle upon Tyne, from the National Farmers Union for £53.1m, reflecting a combined net initial yield of 4.1%. The 11-acre site was originally developed in the 1980s and completely rebuilt in 2011. There is a 68,000 sq ft net sales area […]
In QuotedData’s morning briefing 29 October 2020: Henderson International Income, managed by Ben Lofthouse, reported a -3% return on NAV and -5.2% return to shareholders for the year ending 31 August 2020. Both some way behind the trust’s MSCI World (ex UK) Index, which returned +8.1%. The board notes though that higher yielding shares within the index […]
Premier Global Infrastructure (PGIT) released a statement noting that “following the consultations with dissenting shareholders, and in order to ensure consistency between the name of the company and its investment policy, and further to reflect the merger of Premier Asset Management Group with Miton Group in November 2019, the company confirms that on 20 October […]
Impact Healthcare REIT, the care homes investor, has reported a 1.8% rise in net asset value (NAV) for the third quarter and confirmed 100% of rents for the year to date have been collected. In a trading update for the quarter ended 30 September 2020, the company said the unaudited NAV per share was 109.06p, compared to 107.17p at […]
In an update statement this morning, NextEnergy Solar (NESF) announced that generation over the first half of its financial year, to 30 September, was 11.1% above budget. Solar irradiation exceeded expectations by 10.8%. NESF reaffirmed its full-year dividend target of 7.05p for the financial year ending 31 March 2021. High Garrett 8.5MWp subsidy-free solar asset energised […]
In QuotedData’s morning briefing 28 October 2020 – Apax Global Alpha (APAX) announced that Genius Sports Group, a portfolio company of the Apax IX fund, and dMY Technology Group, a publicly traded special purpose acquisition company (SPAC), have agreed to combine. As a result of the business combination, GSG and dMY II shareholders will exchange their shares for […]
Glenstone Property has announced its intention to acquire 25% of Alternative Income REIT (AIRE). The tender offer of up to 20,125,000 shares at a price of 59.25p represents a premium of 12.9% on the closing price on 26 October 2020, but a 29% discount to the 30 June 2020 net asset value (NAV) per share of […]
VinaCapital Vietnam Opportunity Fund reports an NAV total return for the year ended 30 June 2020 of -1.5% in US dollar terms but +1.2% in sterling terms and a fall in its share price from $4.34 to $4.07. The VN Index fell by 12.7% over this period. The dividend is being maintained at 5.5 cents. […]
UK Mortgages review progressing – For the year ended 30 June 2020, UK Mortgages reports a fall in its asset value, from 82.06p to 80.59p, and a more substantial collapse in its share price, from 73.5p to 49.3p. The NAV total return for the period was 2.7%. The dividend was reduced from 5.625p to 4.5p but was […]
In QuotedData’s morning briefing 27 October 2020: Aberdeen Diversified Income and Growth Trust will repurchase £43,904,000 of its 6.25% bonds, equivalent to 73.2% of the total issue. The purchase price of 154.094491% was calculated using a credit spread of 0.80% above the redemption yield on the United Kingdom 6% Treasury Stock due 7 December 2028. So, the […]
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 said its NAV per share for the year to the end of June 2020 would be between US$1.18 and […]
