Helical has sold City of London office development 100 New Bridge Street to an unnamed S&P 500 company (thought to be investment bank State Street) for £333m. The 195,000 sq ft office will become the company’s new London headquarters, with the purchase price reflecting a 5% yield. Helical owns the site in a 50/50 joint […]
In QuotedData’s morning briefing 11 April 2025: [QD comment MR: MTE has recently put in place a number of proposals designed to improve its attractiveness to shareholders and, while discounts have in many instances been widening across the investment companies space in recent months, MTE’s has been on a broad narrowing trend having moved down […]
LondonMetric Property has forward-funded the acquisition of a pre-let M&S logistics warehouse in Bristol for £74.0m, reflecting a NIY of 5.65%. The 390,000 sq ft regional logistics warehouse is pre-let to M&S on a 20-year lease with five yearly upward only rent reviews linked to CPI. The highly specified warehouse is being developed by Epta […]
US Solar Fund saw its NAV fall from $0.78 to $0.63 over 2024, factoring in dividends of 2.25 cents, this equates to a NAV total return of -13.4%. The main driver of this fall was an increase in the discount rate used to value its forecast cash flows, which was upped from 8.8% to 10.8%. […]
In QuotedData’s morning Briefing 10 April 2025: We also have: Did you see from yesterday?
The AIC is petitioning Parliament to change the laws around the provision of voting rights to investors that hold their shares through platforms – which is most of us. Richard Stone, chief executive of the AIC, said: “All shareholders must be able to vote – it’s their fundamental right. The Companies Act currently states that […]
Merchants Trust (MRCH) has announced its annual results for the year ended 31 January 2025, during which it provided a share price total return of 13.5%, lagging its All-Share benchmark, which it says returned 17.1%. MRCH’s performance was held back by its overweight exposure to mid- and small-cap stocks, which underperformed in a market driven […]
Literacy Capital (BOOK) has announced a new investment in Langford’s, a premium meat products manufacturer based in Welshpool, Wales. The deal marks the first acquisition for Red Sky Food Group, a newly formed platform company established with food industry veteran Mark Chantler. Founded in 2003 by John Langford and Christine Gethin, Langford’s has grown into […]
Assura has reached agreement on the terms of a recommended cash offer for the company by Kohlberg Kravis Roberts (KKR) and Stonepeak Partners. Under the terms of the acquisition, each Assura shareholder shall be entitled to receive 49.4p, comprising 48.56p in cash and a quarterly interim dividend of 0.84p. Together this represents 100% of Assura’s […]
Asset Value Investors (AVI), the manager of AVI Japan Opportunity Trust (AJOT) and AVI Global Trust (AGT), has launched a public campaign targeting portfolio holding Rohto Pharmaceutical (TSE: 4527). The campaign urges Rohto to concentrate on its profitable core businesses – namely skincare and eye care – and to step back from continued investment in […]
We also have: Stories you may have missed from yesterday:
The Mercantile Investment Trust has published results covering the 12 months ended 31 January 2025. It managed to beat the return on its benchmark (the All-Share ex FTSE 100 and investment companies) over the period, delivering an NAV return of 4.1% compared with 12.3% for that index. The return to shareholders was 18.9%. The dividend […]
Nippon Active Value Fund has published results for the 12 months ended 31 December 2024. The trust beat its benchmark by decent margin, returning 15.2% in NAV terms and 16.8% in share price terms versus 6.8% for the MSCI Japan Smaller Companies Index. There is a dividend of 3.25p for the year, up from 1.6p […]
Aurora UK Alpha’s first set of annual results since the merger with Artemis Alpha has been published. The report covers the 12 months ended 31 December 2024. Over that period, the NAV total return was -4.3%, which the chair describes as disappointing. As the discount widened from 10.0% to 11.4%, the share price return was […]
In QuotedData’s morning briefing 8 April 2025: Did you see from yesterday?
AVI Japan Opportunity Trust (AJOT) has published its annual results for the year ended 31 December 2024, marking another strong year of performance for the £243m market cap trust, which continues to benefit from Japan’s accelerating wave of corporate governance reform. AJOT delivered NAV total returns of 20.9% in sterling terms, outperforming its benchmark by […]
In QuotedData’s morning briefing 7 April 2025: [QD comment: Although GMP’s announcement makes no mention of it, we note that the name change also reflects the fact that GMP is no longer an investment trust.] We also have: Stories you may have missed from Friday
The Great Wave off Kanagawa is a seminal piece of Japanese artwork. Created by Katsushika Hokusai in 1831, it depicts three ships struggling against the seas off the coast of Japan – and has been argued to be one of the most recognisable pieces of art ever made. In some ways it has also, until […]
In the latest episode of the Invest in Progress podcast, Lawrence Burns speaks with CEO David Vélez about how Nubank’s digital, fee-free banking experience could impact the financial landscape globally. Capital at risk.
Chrysalis Investments (CHRY) has announced the sale of its entire holding in Cognitive Logic, Inc. (InfoSum) to WPP Plc, generating proceeds of approximately US$63m (£48m). The disposal delivers a 16.4% uplift to the asset’s most recent carrying value as at 31 December 2024, equating to a NAV increase of around 1.23p per share. Importantly, the […]
JPMorgan Global Emerging Markets Income Trust (JEMI) has reported its unaudited half-year results for the six months ended 31 January 2025, delivering a NAV total return of +5.9%, ahead of the 4.9% total return provided by its benchmark, the MSCI Emerging Markets Index, while JEMI’s share price total return was more muted at +3.4%, as […]
In QuotedData’s morning briefing 4 April 2025: We also have: Stories you may have missed from yesterday:
Invesco Bond Income Plus results for 2024 show NAV and share price total returns for the year of 8.5% and 8.8% respectively. The NAV return was below the 10.2% achieved by the ICE Bank of America Merrill Lynch European Currency High Yield Index (hedged to GBP) but above the average return of 4.6% for funds […]
Primary Health Properties has made an indicative cash and share proposal for Assura, based on a NAV for NAV exchange ratio. Under the terms of the combination, shareholders of Assura would receive 0.3848 new PHP shares and 9.08p in cash. PHP said it will make a mix and match facility available to Assura shareholders in […]
Peter Hewitt has been responsible for the management of CT Managed Portfolio’s Income and Growth portfolios since their inception in April 2008. Peter has given notice of his desire to retire. The board and Columbia Threadneedle Investments have been planning for this for some time, while acknowledging that managing Peter’s succession would be no easy […]
European Assets has published results for 2024. Its NAV total return was -0.8% and share price return -3.6%. These compare to a 2.4% return for its MSCI Europe excluding United Kingdom Small Mid Cap (Net Return) Index benchmark. The chairman observes that the longer-term performance of the company has been disappointing. The sterling NAV total […]
JPMorgan American has published results covering 2024 which show it beating the S&P500 Index in both NAV and share price terms. The trust posted a NAV total return of 30.6% compared with 27.0% for the S&P 500 Index and a share price total return 32.6%. Since the company changed its investment approach on 1 June […]
AVI Japan Opportunity is proposing to merge (via a s110 scheme) with Fidelity Japan to create a more liquid, larger fund, targeting highly attractive investment opportunities in the Japanese equities space. The idea is supported by Fidelity Japan’s largest shareholder, City of London Investment Management, which holds approximately 23% of FJV’s issued share capital. Fidelity […]
Baillie Gifford Shin Nippon’s results for the 12 months ended 31 January 2025 make grim reading. The NAV fell by 5.0% and the share price by 5.1%. By contrast, the benchmark was up 8.9%. This extends a the trust’s run of underperformance and, over five years, leaves it trailing the benchmark by 42 percentage points […]
Cordiant Digital Infrastructure says that its Polish portfolio company, Emitel, has signed a long-term agreement with Orange Polska S.A. a leading mobile network operator in Poland, to expand mobile network coverage in the country. Under a built-to-suit model, Emitel will construct hundreds of new telecommunications towers for Orange over the next few years. Orange, as […]
