Care home investor Impact Healthcare REIT has reported growth across all metrics in half-year results to the end of June. The group saw its net asset value (NAV) increase slightly to 107.17p per share (Dec 2019: 106.81p), with its portfolio now valued at £346m (Dec 2019: £318.8m). Its contracted rent roll has grown to £29.5m […]
Over Aberdeen Asian Income (AAIF)’s interim results period to 30 June 2020, the company’s NAV declined by (6.5%). By comparison, the MSCI All Countries Asia Pacific ex-Japan high dividend yield index was down by (7.0%) over the same period. AAIF says that its performance was affected by its light exposure to China, which was the […]
In QuotedData’s morning briefing 12 August 2020: International Public Partnerships (INPP) has acquired an additional interest in the Bradford and Lewisham Building Schools for the Future (BSF) Project. INPP is committing a further £3.6m to acquire stakes in the six PFI project companies that own the fourteen schools providing education facilities to over 17,000 pupils across Bradford and […]
In QuotedData’s morning briefing 11 August 2020 it is a quiet day: Robert Peto, chair of Standard Life Property Investments Income, will step down in favour of James Clifton-Brown following the next board meeting on 25 August. Robert agreed to extend his role temporarily, following the COVID-19 outbreak. The board now feels that a clearer view […]
Pollen Street saga continues – Yesterday, Pollen Street Secured Lending’s board published a press release in which it rebuffed the merger proposal from Honeycomb. It also said that it intended to announce a replacement manager for the trust very shortly. The board said that the terms of the management agreement would provide significantly lower management and performance […]
Phoenix Spree bucks COVID trend – Phoenix Spree Deutschland says that, despite COVID-19, the Berlin residential property market has remained stable in the first half of the financial year. Transaction volumes have reduced but Jones Lang LaSalle GmbH (JLL) believes there is sufficient demand to support current pricing. As at 30 June 2020, the portfolio was […]
Urban Logistics secures three properties and a loan – Urban Logistics has made three purchases for a total of £36.8m and secured a new £151m loan facility. Colchester On 10 July 2020, Urban Logistics bought Interchange Park, on the A12 / A120 in Essex, for £9.8m. The logistics park has five units with an average […]
McKay buys Bracknell logistics property – McKay Securities has bought 1-4 Willoughby Road, a fully let logistics asset in Bracknell, for £10.0m, representing a net initial yield of 5.6%. The property was sourced off-market from a UK institutional vendor. The 2.7 acre freehold estate consists of two modern, self-contained units totalling 54,157 sq ft with large […]
As part of its follow up to its strategic update announced on 22 July 2020, UK Mortgages Limited (UKML) has announced a review of future strategy. At the same time, it has reiterated its position that the possible offer from M&G Investment Management (MAGIM) materially undervalues the Company and its prospects. As such, UKML’s board […]
VinaCapital Vietnam Opportunity Fund has announced that it has made a private equity investment in Thu Cuc International General Hospital (TCI). VinaCapital led a consortium to invest USD26.7m to obtain a significant minority stake along with a board seat in the well-known health care provider, which is currently undertaking a significant expansion. Thu Cuc International […]
Starwood European Real Estate Finance (SWEF) has announced that it has appointed Jefferies International Limited to administer its share buyback programme. Details are as follows: As SWEF’s agent, Jeffries is permitted to buy back shares in the market independently of, and without influence by SWEF. This is provided that the maximum price payable for a […]
In QuotedData’s morning briefing 10 August 2020: European Assets Trust (EAT) has published its interim results for the six months ended 30 June 2020. During the period EAT provided an NAV total return of -3.5%, which it says is in line with that of its benchmark, the EMIX Smaller European Companies (ex UK) Index, which […]
One of the things that caught my eye in this morning’s BBC news was a photo of Mark Zuckerburg, looking rather smug, captioned “Facebook founder sees wealth hit $100bn after TikTok rival launch”. Apparently, Instagram Reels is set to capture the short-form video market from TikTok (no doubt helped enormously if Trump succeeds in banning […]
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: SDCL Energy Efficiency’s foray into EV charging Hipgnosis C shares and NAVs Hammerson’s expensive rights issue Syncona’s IPO of Freeline Watch it again here We’ll be back next week […]
Syncona has provided an update on the initial public offering (IPO) of its company, Freeline Therapeutics Holdings Plc. Freeline is a clinical-stage biotechnology company focused on AAV-based gene therapy targeting the liver. The key takeaways from the announcement are as follows: Freeline has announced the pricing of its IPO in the United States. This is […]
In QuotedData’s morning briefing 7 August 2020: The Renewables Infrastructure Group (TRIG) has announced its interim results for the six months ended 30 June 2020. During the period, TRIG’s NAV per share fell by 1.7%, but the chairman, Helen Mahy, reports that TRIG’s financial performance has remained resilient, sustained by strong operational performance and that the company […]
Honeycomb Investment Trust (HIT) has announced that it has made a proposal to Pollen Street Secured Lending (PSSL) regarding a possible merger between the two. Under the terms of the proposal, PSSL shareholders would receive new ordinary shares in HIT on a NAV for NAV basis. The company says that a further announcement will be […]
Growth beats income but both BMO Managed portfolios beat benchmark – BMO Managed Portfolio Trust has published results for the year ended 31 May 2020. The NAV total return for an Income share was -7.3%, outperforming the All-Share Index which returned -11.2%. Growth shares did even better, with an NAV return of +1.5%. Income share dividend […]
Hammerson rights issue – Hammerson has announced a proposed rights issue to raise gross proceeds of approximately £552m and the sale of substantially all of the company’s 50% interest in VIA Outlets to a mutual fund managed by APG Asset Management N.V. for estimated cash proceeds of approximately €301m (equivalent to approximately £274m), to raise a […]
Civitas confirms cash raise likely, portfolio on-track – NAV edges up to 107.92p at end June from 107.87p at end March. Rents received as normal with no COVID 19 impact during the quarter. 1.35p dividend declared for the quarter as planned – on track for 5.4p for full year. The portfolio was valued on a yield of […]
Pantheon demonstrates undervaluation of private equity – Pantheon International has published results for the year ended 31 May 2020. These capture the panic and subsequent recovery in markets related to COVID-19. Pantheon’s NAV return was +4% over the year, which compares to -11.2% for the UK market and +7.4% for the MSCI World Index. This […]
SDCL Energy Efficiency buys EV charging portfolio – SDCL Energy Efficiency Income Trust has entered into an agreement with Electric Vehicle Network (EVN) to buy a portfolio of 112 rapid and ultra-fast electric vehicle (EV) charging stations across the UK for a total consideration of up to £50m. The EV charging sites will be developed and funded […]
Stenprop buys in Glasgow – Stenprop has bought St Andrews Industrial Estate, a 73,248 sq ft multi-let industrial estate of nine high quality warehouse units near Glasgow city centre. The £5.5m acquisition price reflects a net initial yield of 7.3% and a capital value of £75 per sq ft. Located on the south side of Glasgow, […]
In QuotedData’s morning briefing 6 August 2020: VinaCapital Vietnam Opportunity has completed its sale of its stake in International Dairy Products. The fund shares $45.4m with its co-investment partner Daiwa PI Partners. All in, this deal added 14 cents to the NAV but this is already in the NAV (has been reflected there since 10 July). […]
Hipgnosis Songs (SONG) announced another deal this morning, after acquiring 100% of the writer’s share and neighbouring rights (sound exchange) royalties to Blondie co-founders, Debbie Harry and Chris Stein’s catalogue, made up of 197 songs. As pioneers of the American punk and new wave scene of the mid-70s in New York, SONG notes that Blondie […]
In QuotedData’s morning briefing 5 August 2020: SEGRO (SGRO), the £11.5bn market cap REIT focused on modern warehouses and light industrial property, announced results covering the interim period to 30 June 2020. Adjusted pre-tax profit of £140.4m, represented an increase of 6.5% year-on-year. Adjusted NAV per share increased by 2.6% over the six-month period, helped by an […]
In QuotedData’s morning briefing 4 August 2020, as BP cuts its dividend for the first time in a decade: BMO Commercial Property is to reintroduce a monthly dividend from this month at 0.25p per share (half the previous rate). The NAV return for the three months ended 30 June 2020 was -2.9%. The retail and leisure […]
Henderson Alternative Strategies disappoints again – On 3 July 2020, shareholders in Henderson Alternative Strategies approved a plan tp sell off the portfolio and return the proceeds to shareholders. Over the year to the end of March 2020, the NAV total return on the fund was -13.8%, well below the -6.0% return posted by the fund’s […]
Private equity sector company, HgCapital Trust (HGT), has indirectly invested a further £8.1m in Evaluate alongside other institutional clients of its manager, Hg. Hg is a leading European software investor ‘A leading provider of commercial intelligence and predictive analytics to the pharmaceutical industry’ Evaluate is described as a leading provider of commercial intelligence and predictive analytics to […]
Technology sector trust, Allianz Technology (ATT), has reported interim results to 30 June 2020. It was an outstanding period for the fund, with technology flourishing over the pandemic. ATT’s NAV increased by 36.7%, while the shares delivered a return of 36.9%. Benchmark beat led by remote working and stay at home ATT comfortably beat its […]
