Augmentum proves resilient in face of crisis – Augmentum Fintech has announced results for the year ended 31 March 2020. Over that period, the NAV increased by 5.9% to 116.1p as the portfolio was written up in value by £12.7m. There is no dividend. The shares collpased to trade at a 41.6% discount in the general […]
On 22 April, JZ Capital Partners (JZCP) announced a proposed change to its investment policy, to which it would make no further investments except in respect of which it has existing obligations or to the extent that investment is applied to provide support to selected existing investments. The intention of the change is to realise the […]
GCP Asset Backed Income (GABI) said that so far, in the current financial year to 31 December, it has received all expected interest and principal on time and in full, while also generating significant fees from early loan repayments. In its outlook, GABI said: “The loan book continues to perform and the dividend remains fully covered. The […]
The PRS REIT, which invests in new-build family homes in the private rented sector (PRS), has reported a slowdown in home completions due to covid-19. During the quarter to the end of June, it completed 135 new rental homes, which was below the prior quarter volume of 330. This was due to an eight week period […]
In QuotedData’s morning briefing 14 July 2020: Pollen Street Secured Lending shareholders remain in limbo as the deadline for Waterfall making an offer for the company is extended again. This time until 5pm on 11 August. Standard Life Private Equity’s estimated NAV edged higher in May to 431.2p from 427.7p. 99% of the valuations of […]
Polar Capital Technology has published results for the year ended 30 April 2020. Over the period, the NAV total return was just ahead of that of the benchmark, +18.6% against +18.1% for the Dow Jones World Technology Index. Shareholders saw the elimination of the discount, however and this lifted their return to +31.0%. Following the […]
Alternative Income REIT has said it expects to collect at least 84% of rent for the current quarter by September. The group, which owns a diverse portfolio of 19 long-let properties, has provided a breakdown on rent collection in which: 89% of tenants that pay quarterly rents (representing 70.4% of total quarter rent including monthly) […]
Ruffer (RICA), the flexible investment sector fund, delivered total NAV and share price returns of 10.1% and 12.4%, respectively, over the year ending period to 30 June. The portfolio’s protective assets led returns through the downturn, with positive contributions over the last six months coming from credit protection (+6.2%), gold (+5.1%), index-linked bonds (+3.9%) and option protection (+3.3%). The equity book was […]
Not everything in Baillie Gifford’s garden is blooming – Baillie Gifford Japan has struggled to match its benchmark and its peers in recent years Amid the uncertainty that COVID-19 has created, investors have been looking to technology stocks and companies with strong defensible business models, reasoning that these can persevere even in a recession. That has […]
With so many REIT’s having de-rated heavily, sifting out the companies that were swept along in the coronavirus slump and left with unmerited discounts is fraught with danger. We have seen industrial and logistics specialists bounce back strongly due to a lockdown acceleration in the sector’s fundamentals, namely ecommerce penetration rates. However, more generalist companies that […]
Great Portland Estates (GPOR) has collected 69% of rents for the current quarter, and in doing so has tapped into rent deposits. The London office developer said collection figures were at 58% excluding deposits. From its office portfolio it had received 74% and from its associated retail/hospitality units it had collected 28%. The group had […]
Care home investor Impact Healthcare REIT has collected 100% of rents in advance for the current quarter, but occupancy falls by 8%. As a result of the uninterrupted collection, the company has reaffirmed its intention to pay its second-quarter interim dividend, for the period from 1 April to 30 June, in line with expectations with […]
In QuotedData’s morning briefing 10 July 2020: Carador Income Fund has announced the final redemption and de-listing of its redemption pool shares. G GCP Asset Backed Income (GABI) has announced that it has exercised its option to extend its £50m revolving credit with the Royal Bank of Scotland International Limited. The facility will now expire in […]
Aberdeen Emerging Markets has announced its interim results for the six months ended 30 April 2020, during which stock selection was positive, showing that the managers backed the right funds. However, the period includes the market collapse following the outbreak of the pandemic in March, followed by a partial recovery in April and, reflecting this, […]
Primary Health Properties has reported a 7.1% increase in earnings in a trading update for the six months to the end of June. The company, which owns a portfolio of primary healthcare facilities, said adjusted EPRA earnings per share grew to 3.0p (June 2019: 2.8p). This was off the back of an average uplift of 2.2% per […]
Town Centre Securities has collected 68% of rents billed for the current quarter. Of the £5.2m billed, which is down on the £6.6m it billed the previous quarter, it collected £3.5m. It has also agreed a deferment on £0.6m (11%) of rent. In the previous quarter, it has collected 79% of the £6.6m billed and […]
Workspace Group has collected 65% of rent due this quarter, it has revealed in a trading update. The London flexible office provider said this compared to 80% at the equivalent time last year. Cash collection for the April to June quarter was now at 75%. Encouragingly, customer enquiries steadily improved during the quarter with 765 […]
In QuotedData’s morning briefing 9 July 2020: NewRiver REIT says 81% of retailers in its portfolio are now open for business (81% based on gross rent). Of the rent due on 24 June, 71% has either been collected or had alternative payment terms agreed with occupiers. 1% of rents have been waived. Rents collected for 25 March […]
Atlantis Japan discount widens despite dividend hike – Atlantis Japan Growth Fund has announced results for the year ended 30 April 2020. Over the year, the NAV total return was -3.3%, which compares to a +0.8% return from TOPIX. The discount widened and so investors saw the share price drop by 8.5%. At the 2019 AGM, shareholders […]
Leasing sector company, SQN Asset Finance Income (SQN), has released a detailed investment update from its manager, KKV Investment Management (KKV). KKV took on responsibility for the portfolio in June.The update covers SQN’s ordinary and C share classes. ‘Sustainable dividend unlikely to be re-established in the near future’ Some of the high-level highlights made in the report, […]
Bluefield Solar Income (BSIF)’s investment advisor, has announced the hiring of Baiju Devani as UK investment director. Baiju joins as part of BSIF’s evolution (click here to read more), bringing with him significant wind expertise.He is joining from from Ingenious, where he was a fund manager within its infrastructure division from August 2013 to December 2019. […]
Hg has entered into an agreement to invest in F24, a pan-European sector leader for emergency notification, crisis & incident management and critical communications, headquartered in Munich, Germany. Hg will invest in a stake currently owned by Armira and co-founder Ralf Meister, and will become the majority shareholder in the business. The executive board, Dr. […]
RDI REIT has collected 70.1% of rents due in June. This figure reflects both quarterly payments and monthly payments and compares to the 54.0% it collected in the same time post the March quarter due date. The group said it expects the current collection rates to improve or, in certain cases, result in agreements to remove break […]
Primary care property investor and developer Assura has provided a ‘business as usual’ trading update for the quarter to the end of June. The group said June quarter rents from its 565 properties are being received in line with normal patterns, while development activity is back up and running. Developments at Stafford and Netherfield completed in […]
London office developers Helical and Derwent London have announced rent collection updates for the June to September quarter. They have collected 76.2% and 70% respectively, after they fell due on 24 June 2020. Helical As at 3 July 2020, the group collected 76.2% of the June quarter rents, with a further 14.6% agreed to be […]
Invesco Asia caught out by COVID – Invesco Asia generated a -10.2% return on net assets for the year ended 30 April 2020 and a -10.0% return to shareholders. By contrast, the benchmark’s return was -4.1%. The dividend was raised by 22.8% to 7.0p. This was well-covered by revenue per share of 7.8p. The trust shrank […]
In QuotedData’s morning briefing 7 July 2020: Gore Street Energy Storage raised £23.7m by issuing 24,627,365 new ordinary shares at 96.1p. 3m of those went to JXTG Nippon Oil & Energy Corporation Gresham House Energy Storage is issuing £15m of bonds (which it is calling GRID Power Bonds) with a coupon of 5%. This is the first issue […]
War of words at Gabelli Value Plus+ As shareholders in Gabelli Value Plus+ prepare to vote on whether they want the fund to continue. CG Asset Management Ltd, a shareholder in the company, has written to shareholders in GVP to set out its voting intentions in relation to the continuation vote which is to be proposed […]
Chelverton UK commits to at least maintain its dividend – Chelverton UK Dividend Trust has published its annual report for the year to 31 April 2020. The gearing provided by its zero dividend preference shares has amplified the COVID-19 related fall in its NAV. The NAV total return on the ordinary shares was -36.1%. Shareholders […]
Target Healthcare REIT, the care home investor, has reaffirmed its dividend after collecting 96% of rents. The group said the 4% of rent currently outstanding for the quarter to September 2020 relates to care homes where active asset management initiatives are in place. As a result of the high rent collection rate, the company has […]
