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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

24 Jun 2024
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 21st June 2024

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 […]

Sectors
24 Jun 2024
A broken LED bulb lies in the dirt

Triple Point Energy Transition’s first results after approving wind-down

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 […]

Sectors
24 Jun 2024

Warehouse REIT sells three assets for £57.5m

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 […]

Sectors
24 Jun 2024

Schroder Japan adopts new dividend and discount policy

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 […]

Sectors
24 Jun 2024
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 24 June 2024 – PPET, TFIF, HVPE, PINT

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 […]

21 Jun 2024

Reaping what you sow

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 […]

Sectors
21 Jun 2024

JPMorgan Japan Small Cap Growth and Income outpaced by value and large cap rally

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 […]

21 Jun 2024

Disappointing year for Worsley Investors

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%. […]

21 Jun 2024

Growth company headwinds weighed on Montanaro European Smaller Companies

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 […]

Sectors
21 Jun 2024

New name and lower fees for JLEN Environmental

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 […]

Sectors
21 Jun 2024
a pair of glasses sitting on the corner of a newspaper

QuotedData’s morning briefing 21 June 2024 – HOME

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 […]

20 Jun 2024
a little village in a valley in the Dolomites

Better second half boosts JPMorgan European Discovery

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 […]

20 Jun 2024
221107 CORD

Cordiant Digital reasonably good results at odds with discount

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% […]

Sectors
20 Jun 2024

Urban Logistics REIT focused on dividend cover after posting solid results

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 […]

Sectors
20 Jun 2024
Syncona Sync

Syncona backs two new cancer companies

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 […]

Sectors
20 Jun 2024

Syncona NAV flat following Gyroscope disappointment

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 […]

20 Jun 2024
black tea, cereal and half a grapefruit

QuotedData’s morning briefing 20 June 2024 – GCP, GSF, NRR, SRE, HWG

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 […]

Companies
19 Jun 2024

Downing Strategic Micro-Cap requisitioned by Milkwood Capital

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 […]

Sectors
19 Jun 2024
a bee gathering nectar from a flower 230726 NESF sustainability report

NextEnergy Solar publishes third standalone sustainability & ESG report

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 […]

Sectors
19 Jun 2024
230712 nesf recycling champion

NextEnergy Solar shows resilience in face of sectoral challenges

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 […]

Sectors
19 Jun 2024

Rockwood Strategic moves beyond fixed management fee

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 […]

Sectors
19 Jun 2024
INPP buys BeNEX Rail stake

International Public Partnerships holdings continue well operationally and financially but lower inflation will negatively impact NAV

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 […]

Sectors
19 Jun 2024

Personal Assets cautious allocation has not been rewarded

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 […]

Sectors
19 Jun 2024

HydrogenOne Capital Growth’s Strohm completes €30m capital raise

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 […]

Sectors
19 Jun 2024
a newspaper sticking out of a grey letterbox

QuotedData’s morning briefing 19 June 2024 – SERE, RMMC

In QuotedData’s morning briefing 19 June 2024: Schroder European REIT (SERE) posted a 3.6% fall in NAV to 123.6 euro cents per share in the six months to 31 March 2024. The group’s property portfolio valuation declined 3.1% to €208.1m. Underlying EPRA earnings increased 3% to €4.3m on the prior six month’s EPRA earnings of […]

19 Jun 2024
LED light bulbs seemingly hanging from the sky

NextEnergy Solar sells Whitecross and launches £20m buyback programme

NextEnergy Solar Fund has sold its Whitecross solar plant, completing Phase II of its capital recycling programme and freeing up capital to put to other uses (see below). Highlights: Whitecross, located in Lincolnshire, UK, is a 35.22MW utility-scale solar asset that was developed as part of the company’s self-developed project pipeline and energised late last […]

Sectors
18 Jun 2024
view of Bangkok's office district at night

AshokaWhiteOak Emerging gets off to good start

Ashoka WhiteOak Emerging Markets (AWEM) has published its first annual report, covering the period from its incorporation on 15 March 2023 to 31 March 2024. The company listed on the Premium Segment of the Main Market of the London Stock Exchange on 3 May 2023. In its inaugural accounting period, Ashoka WhiteOak Emerging Markets generated […]

Sectors
18 Jun 2024
a newspaper poking through a letterbox 230731 morning

QuotedData’s morning briefing 18 June 2024 – ADIG, SYNC, RESI, DCI, SONG, SEIT

In QuotedData’s morning briefing 18 June 2024: abrdn Diversified Income & Growth (ADIG) has announced details of its planned return of £115m of capital (38p per share) via a B share scheme. The distribution needs to be approved at a meeting that will be held on 3 July 2024. The money should be with shareholders […]

Companies
17 Jun 2024

Montanaro UK Smaller Companies discount offsets its NAV growth

Montanaro UK Smaller Companies Investment Trust (MTU) has released its annual results for the 12 months ending 31 March 2024. Over the 12 months MTU’s NAV total return was 8.3%, slightly underperforming its benchmark, the Deutsche Numis Smaller Companies (excluding investment companies) Index, which returned 9%. The share price total return was lower at 0.7% […]

Sectors
17 Jun 2024
home reit logo over a picture of a residential street

Home REIT fails to refinance loan

Home REIT will look to sell more of its portfolio after failing to secure refinancing of its debt. The company said that extensive discussions with a potential lender to refinance its debt facility with Scottish Widows (currently £131.8m) have fallen through. It said: “The board has now concluded that it will not be able to […]

Sectors
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