In QuotedData’s morning briefing 26 June 2024: Apax Global Alpha (APAX) announced several updates including the retirement of Tim Breedon from the board and the commencement of a previously announced buyback programme which allows the company repurchase to up to 14.99% of its issued share capital. We also have: Interim results from Bankers including moves […]
JPMorgan Global Core Real Assets (JARA) announced its annual results for the year ended 29th February 2024. The company saw a NAV total return of -4.4%, whilst shareholder total return was -20.9% due to a widening of the share price discount to NAV. Underlying asset performance in local currency was +0.3%. Real Estate was the main […]
Augmentum Fintech (AUGM) announced its annual results for the year ended 31 March 2024. The company saw a NAV total return of 5.4% which was driven by net investment return for the year and impact of share buybacks. The share price total return was up 3.6%. The company noted that several of its portfolio companies […]
In QuotedData’s morning briefing 25 June 2024: Foresight Sustainable Forestry (FSF) announced its interim results for the six months to 31 March 2024. The company recorded a profit for the period of £6.6m, while delivering a NAV per share return of 3.9% since 30 September 2023. The key drivers of the uplift were the upwards […]
Warehouse REIT has announced the acquisition of a retail park for £38.6m, and also reported an uplift in NAV in annual results. The company, which specialises in multi-let warehousing, has ventured away from its core investment strategy with the purchase of phase 2 of Ventura Retail Park, a 13-unit scheme in Tamworth, close to Birmingham. […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. On Friday’s weekly show, James Carthew covered last week’s top stories: • Home REIT • NextEnergy Solar Fund We hosted a panel discussion between Nick Greenwood from MIGO Opportunities, Peter Hewitt from Columbia Threadneedle & Ben Ritchie from […]
Triple Point Energy Transition (TENT) has released its annual results for the 12 months ending 31 March 2024, following the decision on 22 March 2024 to implement an orderly wind-down of the trust, given it was trading at a persistent discount to NAV and was unable to grow the trust further. Over the 12 months […]
Warehouse REIT has completed the sale of £57.5m of single-let assets in three separate transactions. The combined sales price is in line with the 31 March 2024 valuation and represents a net yield on passing rent of 5.8%. The sales bring total proceeds raised since the company announced its deleveraging plan in November 2022 to […]
The board of Schroder Japan Trust (SJG) has announced a new enhanced dividend and discount management measures, after holding conversations with shareholders. Dividend: The board would now like to adopt an enhanced dividend policy to pay out 4% of average net asset value in each financial year. Further details will be provided in the next […]
In QuotedData’s morning briefing 24 June 2024: Patria Private Equity Trust (PPET), formerly abrdn Private Equity Opportunities, has released its half yearly report, providing an update to its NAV performance. PPET has generated a NAV total return of 2.0% for the six months to 31 March 2024, with a current NAV of £1.2m. This equates […]
Prompted by a decent set of results this week, I thought I’d take a look at JPMorgan European Discovery Trust (JEDT). This fund, which used to be known as JPMorgan European Smaller Companies, was beset by poor performance for a number of years. Investors shied away from it as a result, and it tended to […]
JPMorgan Japan Small Cap Growth and Income (JSGI) reported annual results for the 12 months ending 31 March 2024. JSGI reported a NAV total return of 5.0% and share price total return of 2.3% for the year, underperforming its benchmark MSCI Japan Small Cap Net Return Index which returned +12.0%. The managers’ focus on […]
Worsley Investors (WINV) reported its annual results for its financial year ending 31 March 2024. NAV per share decreased slightly by 1.07% to 43.45p with total assets decreasing marginally from £15.23m to £15.09m. Its share price declined 11.43% to 24.80p, increasing the discount to NAV to 42.92%. Its NAV significantly underperformed the FTSE All Share, which was up 8.43%. […]
The Montanaro European Smaller Companies Trust (MTE) reported its annual results for the 12 months ending 31 March 2024. MTE reported a NAV total return of 4.9%, slightly underperforming its benchmark, the MSCI Europe (ex-UK) Small Cap Index, which returned 5.9%. MTE’s share price total return was 4.3%. The board highlights the longer-term track record […]
JLEN Environmental Assets (JLEN) reported its annual results for the 12 months ending 31 March 2024. It was a challenging year, with NAV per share declining 7.7% to 113.6p. The portfolio value decreased slightly to £891.9m from £898.5m the previous year. JLEN also reported a negative share price total return of -15.4%, due to a […]
NewRiver REIT’s annual results show that its turnaround strategy is paying off and the retail property market is returning to growth. The company reported a 5.0% drop in EPRA net tangible assets (NTA) to 115p in the year to 31 March 2024, which was mainly due to a modest decline in portfolio valuation of 2.3% […]
In QuotedData’s morning briefing 21 June 2024: Home REIT (HOME) has sold a further 133 properties at auction, this time for £11.36m in total. These were 7.8% below the draft August 2023 valuations. Since August 2023, the company has completed on the sale of 774 properties and exchanged on a further 205 properties, for gross […]
Alongside its results, the trust has announced plans for a 15% tender offer. JPMorgan European Discovery says that over the year to 31st March 2024 its total return on net assets was 6.8%, outperforming the benchmark (MSCI Europe (ex UK) Small Cap Index) which returned 5.9%. The total return to shareholders was 13.0%, as the […]
Cordiant Digital Infrastructure’s results to end March 2024 show an improvement in its NAV to 120.1p, contributing to an NAV return for the period of 9.3% (that would have been 11% but for adverse foreign exchange movements), and an increase in the dividend to 4.2p (up 5%), offset by a widening discount – from 28.3% […]
Urban Logistics REIT reported a slight drop in EPRA net tangible assets (NTA) of 1.3% to 160.27p in annual results to 31 March 2024. The value of the company’s portfolio of mid-box urban logistics assets was stable over the 12 months falling just 0.3% on a like-for-like basis to £1.1bn. Net rental income was up […]
Syncona has added two new companies to its portfolio, iOnctura and Yellowstone Biosciences. Syncona has invested €30m (£25.7m) in iOnctura, an innovative, clinical-stage, small molecule company combating neglected and hard-to-treat cancers, and launched Yellowstone, a new oncology company pioneering soluble bispecific T-cell receptor (TCR)-based therapies, with a £16.5m commitment. iOnctura iOnctura is developing selective cancer […]
Syncona has published results for the 12 months ended 31 March 2024. The NAV edged up from 186.5p to 188.7p, giving a NAV return for the period of 1.2%, but as it turns out all of that came from the effect of buying back shares at a discount. £20.2m worth of shares were repurchased at […]
In QuotedData’s morning briefing 20 June 2024: GCP Infrastructure’s half-year numbers to end March 2024 showed a small positive NAV return of 1.2% but a much greater uplift in the share price as the discount narrowed giving shareholders a return of 12.5%. As usual, the dividend is maintained at 3.5p for the six-month period. No […]
Downing Strategic Micro-Cap (DSM) has announced that, on 17 June 2024, its board of directors of DSM received a letter from Vidacos Nominees Limited acting as nominee of Milkwood Capital Limited (Milkwood), seeking to requisition a general meeting of DSM. DSM’s board has said that it is in the process of reviewing the legal validity […]
In addition to the publication of its annual results today (click here to see our coverage of these), NextEnergy Solar Fund (NESF) has published its third standalone annual sustainability & ESG report – also for the year ended 31 March 2024. The report, which you can read here, runs to over 70 pages and contains […]
NextEnergy Solar Fund (NESF) has published its annual results for the year ended 31 March 2024. In what is her first annual report as NESF’s chairwoman, Helen Mahy says that the continued macroeconomic backdrop has presented challenges to the sector, but she is encouraged that NESF has continued to show resilience having achieved multiple key […]
Rockwood Strategic (RKW) has published its annual results for the year ended 31 March 2024, during which it provided an NAV and share price total returns of 5.1% and 15.4% respectively, which it says compares to an increase in the FTSE Small Cap (ex-ITs) index of 7.1% and a fall in the AIM All-Share Index […]
International Public Partnerships (INPP) has provided the market with an update on its performance so far this year. It says that its portfolio of over 140 projects and businesses has continued to perform well, both operationally and financially, during the period. Its portfolio continues to deliver essential services to stakeholders, maintaining high levels of asset […]
Personal Assets (PNL) has published its annual results for the year ended 30 April 2024, during which it provided NAV and share price total returns of 1.3% and 1.2%, respectively. In comparison, it says that the All-Share Index returned 3.4% and RPI was 3.3%. PNL’s manager, Sebastian Lyon, says that PNL’s “cautious asset allocation has […]
HydrogenOne Capital Growth (HGEN) has announced that its portfolio company, Strohm Holding B.V. (Strohm), has successfully completed a new €30m (£25m) capital raise. Strohm is the world’s first and leading producer of Thermoplastic Composite Pipe (TCP), which can be used across conventional energy, as well as renewable applications, greatly reducing the associated technology risk. Strohm […]
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