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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).

13 Dec 2023

Strategic review for GCP Asset Backed Income

GCP Asset Backed Income Fund announced it has commenced a strategic review  following the company’s announcement on 18 September 2023 that it had ceased merger discussions with GCP Infrastructure Investments Limited and that the board would propose a continuation vote at its AGM to be held in May 2024. The decision to commence the strategic […]

Sectors
13 Dec 2023
221104 India Taj Mahal Sunrise

Quiet year for JPMorgan Indian despite outperformance

JPMorgan Indian Investment Trust (JII) has announced its annual results for the year ended September 30 2023. NAV total return for the year was 1.2%, marginally ahead of the benchmark return of 0.7%. Share price total return was 2.2% with the discount closing at around 18%. The manager noted that It was a year of […]

13 Dec 2023

Optimism remains despite challenging year for GCP

GCP Infrastructure Investments (GCP) announced its annual report for the year ended 30 September 2023. Total NAV return for the year was 3.7% while total shareholder returns fell 25.2%. The discount sat at around 40% at the last close while the weighted average dividend was 7.9%. The company also saw a considerable fall in profits […]

Sectors
13 Dec 2023

Triple Point Energy Transition to realise assets

Following the release of the company’s interim results, Triple Point Energy Transition (TENT) announced that an orderly realisation of assets, and return of associated realised capital, is the most viable option to maximise shareholder value in the short to medium term. The announcement follows a comprehensive review of the options for the group and its […]

Sectors
13 Dec 2023
230601 morning 1

QuotedData’s morning briefing 13 December 2023 – TENT, ORIT, SHRS, AEIP, WKP

In QuotedData’s morning briefing 13 December 2023: Triple Point Energy Transition (TENT) announced its interim results for the six months ended 30 September. The company’s NAV fell 4.3% while shares fell 22% as the discount widened to over 40% at last close. In light of the stubborn discount the company has announced that an orderly […]

Sectors
Companies
12 Dec 2023
240617 macro europe

Quality and small cap bias hurts MTE

Montanaro European Smaller Companies Trust (MTE) has announced its interim results for the six months to September 30 2023. The company’s share price total return was down 13.2%, while NAV per share fell 12.5%, underperforming the company’s benchmark, MSCI Europe ex-UK SmallCap index, which was down 7.5%. The discount widened to 13.8%. Commenting on the […]

Sectors
12 Dec 2023

Double digit growth for PCT despite underperformance

Polar Capital Technology Trust (PCT) has announced its interim report for the six months to 31 October 2023. NAV total return for the period was 12.1%, trailing the benchmark return of 12.8% (The Dow Jones Global Technology Index). Shares were up 10.6%. The company’s discount stood at 14.5% at the end of the period. Commenting […]

Sectors
12 Dec 2023
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 12 December 2023 – VEIL, TMI

In QuotedData’s morning briefing 12 December 2023: Vietnam Enterprise Investments (VEIL) released its monthly update for November, highlighting a  NAV increase of 8.7% total return in USD over the previous month against a gain of 8.0% for its reference index, the Vietnam Index ( VNI). VEIL’s share price increased 7.2% in November and has declined […]

11 Dec 2023
Hipgnosis Songs Fund: SONG

Hipgnosis asset sale comes in at 14% discount to NAV

Hipgnosis Songs Fund (SONG) has announced the sale of about 20,000 non-core songs for $23.1m, representing approximately 1% of its portfolio. The announcement says that these songs are a subset of those identified as the potential $25m second disposal announced in September. They were bought, together with some “iconic songs” in 2020, as part of […]

11 Dec 2023
230124 morning

QuotedData’s morning briefing 11 December 2023 – SYNC, TMI, UKW, HGT, LXI, DNA2

In QuotedData’s morning briefing for 11 December 2023: Syncona (SYNC) has provided an update on the clinical study of its portfolio company, Autolus Therapeutics. The results have indicated the strong safety profile of the drug and importantly show a durable response for patients. Taylor Maritime Investments (TMI) has released its half year results for the […]

Companies
08 Dec 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news update 8th December

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: Chrysalis (0:20) Baring Emerging EMEA Opportunities (3:23) Ecofin US Renewables (7:21) This week’s interview was with Joe Bauernfreund from AVI Japan Opportunity Trust – watch […]

Sectors
Companies
08 Dec 2023

QD view – your vote will count in Arb fight

Discounts in the investment trust sector are almost double their average[1], with the combination of cost disclosure rules and rising interest rates creating widespread selling pressure. It is perhaps not surprising that this has caught the attention of activist investors who spot an opportunity. Saba Capital is the latest arbitrageur on the block, thought to […]

Companies
08 Dec 2023

Schroders Capital Global Innovation’s Carmot Therapeutics sold to Roche

Schroders Capital Global Innovation (INOV) has announced that its portfolio company Carmot Therapeutics Inc., a clinical-stage biotechnology company dedicated to developing life-changing therapeutics for people living with metabolic diseases including obesity and diabetes, entered into a definitive agreement to be acquired by Roche, on 3 December 2023. Roche is acquiring Carmot at a purchase price […]

Sectors
08 Dec 2023

Barings Emerging EMEA Opportunities ekes out some NAV growth

Barings Emerging EMEA Opportunities (BEMO) has announced its annual results for the year ended 30 September 2023, during which it provided an NAV total return of 0.5% and a share price total return of -8.8%, which compare to a return on its benchmark of -3.4%. The NAV’s outperformance can largely be attributed to stock selection […]

Geographies
  • Africa
  • Europe (EU and EEA ex UK)
  • Middle East
Sectors
08 Dec 2023
221220 morning

QuotedData’s morning briefing 8 December 2023 – BEMO, TFG, CRS

In QuotedData’s morning briefing 8 December 2023: Barings Emerging EMEA Opportunities (BEMO) says that, earlier this year, Russian retailer Magnit announced a tender offer of its shares. After seeking legal advice that participation in the transaction would be permissible under the current sanctions regime, BEMO applied to tender its shares and has confirmed that its […]

Sectors
Companies
07 Dec 2023
headshot of Nick Train

Third year of underperformance for Finsbury Income and Growth

The 12 month period ended 30 September 2023 was not a great one for Finsbury Growth and Income. It is reporting an NAV return for the period of 7.2% and a share price return of 7.5% which compare to an All-Share return of 13.8%. This is now the third consecutive accounting period where the trust […]

07 Dec 2023
Electricity,Transmission,Towers,With,Orange,Glowing,Wires,The,Starry,Night

Ecofin US Renewables says Whirlwind about to be re-energised

Whirlwind – Texas wind asset Ecofin US Renewables’s 59.8 MW Whirlwind Energy wind farm in Texas, has now moved significantly closer to coming back online. The asset management team of Ecofin Advisors, LLC has been working with the relevant counterparties to restore generation from Whirlwind following the tornado damage to a nearby substation in June […]

07 Dec 2023
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 7 December 2023 – UKW, DVNO, FAIR, VOF, NAS

In QuotedData’s morning briefing 7 December 2023: Laurence Fumagalli plans to step down from his role as co-head of the Schroders Greencoat LLP team managing Greencoat UK Wind (UKW) on 1 March 2024. Matt Ridley, a partner at Schroders Greencoat, will succeed Laurence to co-manage the fund alongside Stephen Lilley. Matt is currently head of […]

Companies
06 Dec 2023

River and Mercantile optimistic despite volatility

River and Mercantile UK Micro Cap announced its annual report for the year ended 30 September 2023. NAV total return for the period was 3.81%, compared to 3.27% for the the Numis Smaller Companies plus Alternative Investment Market index. Shares fell 4% with the discount widening to around 14%. Given the broader sell off in […]

06 Dec 2023

Another solid year for Schroder AsiaPacific despite challenges

Schroder AsiaPacific Fund (SDP) has announced its annual report for the year ended 30 September 2023. NAV total return for the period was 2.9%, ahead of the benchmark MSCI All Country Asia ex Japan index which rose by 1.5% over the same period. Shares were up 2.3%. This continues the company’s commendable long term record […]

Sectors
06 Dec 2023

abrdn Property Income Trust captures rental growth with series of deals

abrdn Property Income Trust (API) has captured strong rental growth within its portfolio with three rent reviews in its industrial portfolio. In Bristol, a rent review at Kings Business Park was agreed at £96,350 per annum, reflecting a 38.6% uplift to the previously passing rent. This was in line with the September 2023 valuation, but […]

Sectors
06 Dec 2023

Falling land prices weigh on Foresight Sustainable Forestry

Foresight Sustainable Forestry (FSF) has announced its annual results for the year ended 30 September 2023. NAV fell 6.3% for the year while shares were down 23%. The company noted that the key driver of the reduction in NAV per share has been the decline in land values, which was impacted by a significant reduction […]

Sectors
06 Dec 2023

Schroder European REIT grows earnings, but NAV hit by yield expansion

Schroder European REIT (SERE) reported a 8.9% fall in net asset value (NAV) to 128.2 euro cents per share in annual results to 30 September 2023, reflecting the impact that challenging economic and geo-political risks have had on asset valuations. The group’s portfolio of European real estate declined in value by 8.5% to €214.1m, reflecting […]

Sectors
06 Dec 2023
230113 Japan

Strong outlook for JPMorgan Japanese but despite underperformance

JPMorgan Japanese announced its annual results for the 12 months to 30 September. NAV total return was 8%, underperforming the benchmark TOPIX index by 6.7%. Share price total return was 6.4% with the discount widening to around 8%. Commenting on the underperformance, chairman Christopher Samuel noted: “After the earlier periods of underperformance, this year’s numbers […]

06 Dec 2023

QuotedData’s morning briefing 6 December 2023 – CREI, CHRY

In QuotedData’s morning briefing 6 December 2023: Custodian Property Income REIT’s (CREI’s) NAV fell to 95.9p per share at 30 September 2023 (from 99.3p at 31 March 2023). Portfolio valuation remained stable with a marginal 0.6% decline to £609.8m (31 March 2023: £613.6m).  The portfolio saw a £15.6m valuation decrease, driven by current investor and market […]

05 Dec 2023
european opportunities trust plc written in white text against a view of sky surrounded by glass office towers

European Opportunities Trust confirms tender offer

European Opportunities Trust has confirmed that the company will undertake a tender offer for up to 25% of the issued share capital of the company. The offer, which is subject to shareholder approval, is being made at a tender price equal to a 2% discount to the prevailing NAV as at the calculation date, less […]

05 Dec 2023

Outperformance for Lowland despite UK struggles

The Lowland Investment Company (LWI) announced its annual report for the period ended 30 September 2023. The company saw an NAV total return of 17.2% compared to a benchmark total return of 13.8%. Shares were up 8% with the company’s discount now sitting at around 13%. Dividends grew 2.5% to a yield of 5.3%. The […]

05 Dec 2023
Residential Secure Income

Residential Secure Income reduces dividend target

In line with the wider real estate sector, Residential Secure Income’s annual results were impacted by the higher interest rate environment. EPRA net tangible assets (NTA) was 81.8p per share, delivering a total return of -18.1%. Portfolio value was down 10% on a like-for-like basis with an 80 basis points (0.8%) outwards yield shift, reflecting […]

Sectors
05 Dec 2023
a newspaper poking through a letterbox 230731 morning

QuotedData’s morning briefing 5 December 2023 – PNL, IEM, LTI, PCTN, HLCL, HOME, TOWN, SHC

In QuotedData’s morning briefing 5 December 2023: Personal Assets Trust (PNL) announced its interm report for the six months to 31 October 2023. The company’s NAV fell by 2.7% while shares fell 4.5% with shares falling to a discount of around 1%. The company continues to be positioned defensively with almost 40% of the fund […]

Sectors
Companies
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