Buffetology prospectus published – Further to the announcement made by Buffettology Smaller Companies Investment Trust Plc, a newly established investment trust, on 25 September 2020, the company has today published a prospectus in connection with its initial public offering (“IPO”). The company is seeking to raise a minimum of £100m through the issue of ordinary shares […]
Newly formed single asset real estate company Mailbox REIT has announced its intention to raise £62.5m in an IPO and be the first company to list on the International Property Securities Exchange (IPSX). Mailbox REIT owns the Mailbox, a large prime office-led mixed use property in Birmingham that has been independently valued at £179m, and will […]
Schroder European REIT (SERE) has forward sold an office in Paris for €104m, delivering a net profit of 35% and increasing the company’s net asset value by 15%. The sale of the Boulogne-Billancourt office asset, which was originally acquired in 2016 for €37.5m, is structured as a forward funding, with the building being handed over to […]
In QuotedData’s morning briefing 1 October 2020: Octopus Renewables Infrastructure Trust is buying four solar PV sites in Andalucia, which are expected to be ready to build by January 2023. The assets will have a total installed capacity of 175MWp and are expected to become operational in early 2024. The company is not taking any development risk […]
Merian Chrysalis invests in You & Mr Jones – the “Target” investment referred to in Merian’s announcement on 28 September 2020 is You & Mr Jones LLC. The company has finalised its due diligence on You & Mr Jones and committed to invest US$60m as part of a US$260m funding round. You & Mr Jones was founded […]
Oakley buys 7NXT – Oakley Capital Investments says that Oakley Capital Origin Fund has acquired a majority stake in 7NXT GmbH, the leading online fitness and nutrition platform in the German speaking region for €42.6m. The stake was acquired from founder and CEO Markan Karajica and Crosslantic Capital. Mr Karajica will continue in his role as […]
Vietnam Holding results affected by COVID – Vietnam Holding has announced results for the year ended 30 June 2020. Over that period, the NAV fell from 214.1p to 186.8p and the share price from 183p to 154p. The 15.1% fall in the NAV was greater than the 9.6% fall in the Vietnam All Share Total Return […]
Strategic Equity Capital outperforms in difficult year – Strategic Equity Capital has announced results for the year ended 30 June 2020. Over the period, the NAV total return was -9.1%, reflecting the impact of COVID-19 on the portfolio. This was quite a bit better than the return on the FTSE Small cap ex Investment Trusts, which […]
Supermarket Income REIT announced its intention to raise £150m in a placing at an issue price of 104p per share, earlier this month. The issue price represents a discount of 6.3% to the closing price on 16 September 2020 and a 3% premium to its last reported NAV at 30 June 2020. The group’s investment […]
Aberdeen Standard European Logistics Income (ASLI) has reported solid half-year results with a net asset value (NAV) total return of 4.2%. The company, which owns a portfolio of 14 logistics assets across Europe, posted an unaudited NAV per share of €1.13 (103.0p), compared with the NAV per share of €1.11 (94.21p) at the end of 2019. […]
Standard Life Private Equity (SLPE) has released an investment update covering the quarter to 30 June 2020. The NAV increased by 11.1% over the period (11.9% on a total return basis), taking into account valuations by all of SLPE’s external managers on the entire portfolio. £660.9m portfolio spread across 63 fund investments At the period-end, […]
In an update covering the period from 1 April to 29 September 2020, 3i Infrastructure (3IN) said that “most portfolio companies have met or exceeded the expectations we set at the start of the period, although lower power price forecasts, ongoing effects of the pandemic and the slow recovery in air travel will affect some […]
The global sector company, Manchester and London (MNL), delivered a total NAV return of 12.8% over the full-year to 31 July 2020, which was over 30% ahead of its benchmark, the MSCI UK investable market index. Attribution – Microsoft, Alphabet, Facebook, Tencent, and Amazon all figure in the portfolio Information technology: +7.2% Communication services: +5.0% Consumer […]
India Capital Growth (IGC) has reported interim results to 30 June 2020, with the NAV declining by 20.4% over the six months. The NAV increased by 22% from the low reached on 31 March and has continued to recover since the period-end, increasing by 14%, as at 31 August. Performance attribution – Aurobindo Pharma leads gains […]
In QuotedData’s morning briefing 30 September 2020: The growth capital sector company, Schroder UK Public Private (SUPP), released interim results to 30 June 2020. The NAV declined by 8.1% (the decline since 1 April has been 1.5%). The following is an extract from the accompanying manager’s report: “Over this reporting period, the impact of the […]
Ceiba Investments, the owner of Cuban commercial real estate, reported interim results today that saw net asset value fall 8.9% due largely to big valuation falls in its hotel properties. The company is debt free and its four-strong hotel portfolio is capitalised to the tune of $40m, which is more than enough to comfortably see […]
Amazing results from Pacific Horizon – over the year ended 31 July 2020, Pacific Horizon generated returns of 39.9% in NAV terms and 57.5% in share price terms compared to 5.1% from the MSCI All Country Asia ex Japan Index in sterling. There will be a small dividend this year – just 0.25p – the manager […]
In QuotedData’s morning briefing 29 September 2020: Greencoat UK Wind’s issue was well oversubscribed. It has raised £400m and will issue over 305m shares. The money will be used to pay down debt to £600m (21% LTV). PRS REIT says that it has arranged an additional £50m of debt facilities with Barclays Bank, taking its total […]
Ken Wotton replaces Jeff Harris at Strategic Equity Capital – Ken Wotton, managing director and head of the Gresham House Asset Management Public Equity investment team, has been appointed lead fund manager of Strategic Equity Capital and will work alongside current fund manager, Adam Khanbhai. The board says that Ken brings great experience and expertise, as […]
Jupiter UK Growth gives up – In a surprise move, the board of Jupiter UK Growth has released the following statement: “The market capitalisation of the company remains very low and is currently approximately £26m which falls well below the minimum size generally considered investable by wealth managers and other prospective investors. The company is […]
Over Africa Opportunity Fund (AOF) interim results period to 30 June 2020, the NAV fell by (14%). Accounting for dividends and redemptions, the NAV decline was (7%). At the period end, equities accounted for 79% of the portfolio, debt took up 5% and unencumbered cash was responsible for the remaining 16%. As a reference, AOF […]
Merian Chrysalis (MERI) announced a proposed equity placing targeting £50m. The placing is priced at £1.48, which represents a premium to the estimated NAV per share of 142p, as at 30 June 2020. MERI also took the opportunity to announce a £15m follow-on investment in a convertible loan note of FinanceApp AG (wefox), which it […]
Ediston Property Investment Company (EPIC) has announced it has started construction of a retail park, in a vote of confidence for the retail sub-sector. The 48,000 sq ft retail park and petrol filling station in Haddington, East Lothian (near Edinburgh), is 97% pre-let to Aldi, Home Bargains, The Food Warehouse, Costa Coffee and Euro Garages. Construction […]
The UK real estate debt investor ICG-Longbow Senior Secured UK Property Debt Investments (LBOW) has reported interim results for the six months to 31 July 2020. At the period-end, the NAV amounted to £119.2m, which compares with £119.1m as at 31 January 2020. Some of the key developments from the period include: No losses incurred or impairment […]
Over Gulf Investment Fund’s (GIF) full-year results (to 30 June 2020) saw the NAV decline by (8.7%) in total return terms. This compares with a (17.2%) decline in the benchmark. The shares fared slightly better, declining by (5.4%). At the year-end, GIF’s shares were trading at a discount of (7.5%) of NAV, which was ahead […]
Ashoka India Equity (AIE) has released year-end results for the 12 months to 30 June 2020. Over the period, which marks the company’s second annual results release since its launch, the total returns generated by the NAV and shares were (4.3%) and (9.6%). By comparison, the benchmark MSCI India IMI index delivered (16.0%). India has […]
In QuotedData’s morning briefing 28 September 2020: CVC Credit Partners European Opportunities (CCPE/CCPG) reported interim results to 30 June 2020, with NAV total returns for the Sterling and Euro share classes coming in at (7.95%) and (8.45%), respectively. Chairman, Richard Boléat, had this to say: “Performance of risk assets as a whole since 30 June has […]
In QuotedData’s weekly news show 25 September 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: Temple Bar appointing RWC Asset Management Bluefield Solar’s results Hipgnosis launching £250m fundraise but ‘only’ raising £190m KKV Secured Loan is […]
The brakes have been well and truly pumped on any positive sentiment that may have been building in the real estate sector. After the successful ‘Eat Out to Help Out’ scheme and the government urging people to get back to the office, there was some light at the end of the deep, dark tunnel. That […]
Where has my income gone? is a question many investors are asking as UK dividends are cut but at least investment trusts have revenue reserves to draw on. It looks as though we are about to lose another Dividend Hero as Temple Bar says it will cut its dividend by around 25% (to 38.5p from […]
