Social Housing REIT (SOHO) has published its audited results for the year ended 31 December 2024, marking a year of operational resilience amidst challenges with certain tenants, as well as a major strategic transition with the appointment of Atrato Partners as its new investment manager from 1 January 2025. Resilient performance despite headwinds Despite issues […]
Great Portland Estates (GPE) has acquired the freehold of One Chapel Place, W1, through the purchase of Cypress Dynasty Limited, in a deal valuing the property at £56.0m (£985 per sq ft on proposed net internal area), reflecting a net initial yield of 4.4%. The 34,230 sq ft West End office building is fully let […]
Oakley Capital Investments Limited (OCI) has announced a significant update to its capital allocation strategy that will see it stop paying a dividend and effective 2025, in favour of focusing exclusively on share buybacks. It has also announced a large new fund commitment to Oakley Capital Fund VI. £20m minimum annual buyback introduced and dividend […]
VietNam Holding (VNH) has released its interim results for the six months to 31 December 2024, delivering a period of solid performance marked by NAV growth, a successful redemption event, a narrowing discount, and a clutch of industry awards. The trust continues to benefit from a supportive Vietnamese macroeconomic backdrop and focused portfolio management. NAV […]
Lindsell Train Investment Trust (LTI) has announced the partial disposal of its holding in Lindsell Train Limited (LTL), the boutique fund management firm it co-founded and remains heavily invested in. According to an update released this morning, LTI has agreed to sell 32 shares in LTL to executive employees of the company. The shares are […]
In QuotedData’s morning briefing 24 March 2025: New Star (NSI) has published its interim results for the six months to 31 December 2024, during which it generated a modest share price total return of 0.41%. NSI’s NAV per share fell slightly to 169.19p following dividends and a £17m capital return via a B share redemption […]
Britain has many good quality, growing companies, but investors have been ignoring them as they fixate on the dominant US mega caps. That’s left valuations close to low points and trusts focused on this area trading on wider than normal discounts. Baillie Gifford UK Growth Trust (BGUK) is a good example of this. As with […]
Temple Bar Investment Trust (TMPL) has announced impressive results for the year ended 31 December 2024, delivering a net asset value (NAV) total return of 19.9%, comfortably outperforming its All-Share benchmark, which it says returned 9.5%. The share price total return was 19.1%, reflecting a modest narrowing of the discount to NAV, which stood at […]
Literacy Capital (BOOK) has released its final results for the year to 31 December 2024. The private equity investment trust, which focuses on direct investments in smaller, privately owned UK businesses, reported a 1.5% decline in NAV per share over the year, closing at 492.8p. Including the impact of a post-period bolt-on acquisition by portfolio […]
JPMorgan Claverhouse Investment Trust (JCH) has reported annual results for the year ended 31 December 2024, delivering a solid net asset value (NAV) total return of 9.2% (with debt at fair value). While marginally behind that of its All-Share Index benchmark, which JCH says returned 9.4%, the portfolio performed in line with broader UK equity […]
Dean Buckley, Chair and Craig Baker, Chair of the Investment Committee Alliance Witan are pleased to share their annual results for the year ending 31 December 2024. This has been a landmark year for the Company, marked by their promotion to the FTSE 100 following the successful combination with Witan.
Partners Group Private Equity (PEY) has released its annual results for the year ended 31 December 2024, showing a solid NAV total return of 11.4%, driven largely by value creation within its portfolio of 12.8%. PEY’s share price total return for the year was 10.0%, ending 2024 with the shares trading at a 29% discount […]
Henderson Smaller Companies (HSL) has announced that Neil Hermon, co-manager of its portfolio, is retiring from Janus Henderson Investors and the asset management industry on 30 September 2025. Neil’s retirement comes after 22 years as fund manager of HSL, and over 36 years in financial services. Indriatti van Hien, Neil’s co-manager on HSL, will continue […]
In QuotedData’s morning briefing 21 March 2025: M&G Credit Income (MGCI) has announced the results of its placing and WRAP retail offer, which have collectively raised gross proceeds of £6.3m. MGCI will issue a total of 6,647,969 new ordinary shares at a price of 95.13 pence per new ordinary share, representing a 1.0% premium to […]
On 17 April, Achilles (AIC) issued a statement on Urban Logistics which we reproduce below: Achilles Investment Company Limited notes the potential conflict of interest concerning Richard Moffitt, chief executive officer of Logistics Asset Management LLP, the investment adviser to Urban Logistics REIT plc. Mr. Moffitt also holds an interest in M1 Agency LLP, where […]
Foresight Solar Fund has published its results for 2024. Its NAV fell from 118.4p to 112.3p over the period. The chairman’s statement does not tell us what the return to shareholders was [regular readers will know how annoyed I am by this, but the share price started the year at 102.2p and finished it at […]
Shaftesbury Capital has formed a strategic, long-term partnership with Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund, in respect of its Covent Garden estate. Shaftesbury is selling a 25% non-controlling interest in the Covent Garden estate to NBIM. This values the Covent Garden estate at £2.7bn, in line with its independent property valuation […]
Fidelity European Trust has announced results for the 12 months ended 31 December 2024. The trust underperformed its benchmark over the period, returning 0.5% in NAV terms against 3.0% for the World Europe ex UK Index. The discount widened slightly too, which left shareholders with a return of -0.1%. [As with our story on European […]
Foresight Environmental Infrastructure has announced a plan to combine its investments in renewable biomethane refuelling stations with the assets of ReFuels N.V., a leading European supplier of Bio-CNG (compressed natural gas, which is helping to decarbonise the transport industry). The trust and one other Foresight-managed fund currently own a majority interest in a joint venture […]
In QuotedData’s morning briefing 20 March 2025: European Smaller Companies Trust (ESCT), which was one of the trusts targeted by Saba in its initial round of attacks, has published interim results covering the six months ended 31 December 2024. The figures show that it underperformed its benchmark index by 3.7 percentage points, returning -7.5% in […]
Keystone Positive Change (KPC) has announced that shareholders have approved the proposals for the scheme of reconstruction and members’ voluntary winding-up of the company. Implementation of the scheme remains subject to, among other things, shareholder approval at the adjourned second general meeting to be held on 28 March 2025. The board announces the following elections in […]
Schroder Asia Total Return (ATR) has announced its annual results for the year end 31 December 2024. The company delivered a NAV total return of 13.0%, outperforming the MSCI AC Asia Pacific ex Japan index which rose by 12.1%. This is the ninth year in the last decade that the company has outperformed the reference […]
In QuotedData’s morning briefing 19 March 2025: VinaCapital Vietnam Opportunity Fund (VOF) announced that Khanh Vu has been appointed as lead portfolio manager with immediate effect. Mr Vu joined VinaCapital in 2010 and has been an integral part of the team managing VOF since then. He is also a member of VOF’s investment committee. Commenting […]
Onward Opportunities Limited (ONWD) announced its annual results for the 12 months to 31 December 2024. The company delivered a NAV total return of 21.5%, comfortably outperforming the benchmark UK AIM All-Share’s total return by 25.4%, which fell during the same period. ONWD’s share price total return was 34.2%. During the financial year, the company […]
Harworth Group delivered a NAV total return of 9.1% over 2024, after seeing EPRA net disposal value (NDV) increase 8.5% driven by gains on development sites and land sales. Over the last five years the company has posted average annual returns of 8.4% against the MSCI All Property Index of 5.1%. EPRA NDV per share […]
In QuotedData’s morning briefing 18 March 2025: Tufton Assets (SHIP) announced its interim results for the six month period ended 31 December 2024. The company delivered a NAV total return of 6% with dividends paid during the period of US$14.0m, at an average 12 month yield of 5.9%. The share price was flat. On average, […]
Putin has published a decree that says that certain firms owning Russian stocks will be able to sell these to a New York based hedge fund – 683 Partners – which will then be able to deal in them in Russia. The decree opens up so many questions about how the firms were selected, who […]
Schroders Capital Global Innovation (INOV) has announced that its portfolio company Araris Biotech AG, has entered into an agreement to be acquired by Taiho Pharmaceutical Co. Ltd. for an upfront payment of US$400m, with the potential for additional milestone payments of up to US$740m. The transaction is expected to be completed in first half of 2025. […]
Pershing Square Holdings Ltd (PSH) has published its annual report for the year ended 31 December 2024. Despite a challenging macro and geopolitical backdrop, the closed-ended fund delivered a NAV total return of 10.2%, while the share price rose 8.3%, as the discount to NAV widened slightly from 29.6% to 31.2% over the year. In […]
Bellevue Healthcare (BBH) has published its annual results for the year ended 30 November 2024, during which it provided NAV and share price total returns of 11.1% and 13.7%, which compare against a return of 11.5% for the MSCI World Healthcare Index (all in sterling terms). BBH’s chair, Randeep Grewal, says that while it is […]
