News

JPMorgan Japanese outperforms the benchmark for the year-  JPMorgan Japanese had a return on net assets of 26.8%, which outperformed the benchmark by 14.2%. JPMorgan Japanese on 26th March 2018 reached a market capitalisation of £712.7 million which was sufficient enough for it to become a constituent of the FTSE 250 Index on 31st March […]

LXi REIT has made six new property acquisitions- LXi REIT has purchased six new properties with total consideration of £62.4 million (excluding costs). This has the companies £175 million equity raise on 12 October 2018 fully deployed. All six properties are 100% linked to the retail price index. The weighted average unexpired lease terms to […]

British Empire focuses on extracting value from portfolio – British Empire says that, for the year ended 30 September 2018, it generated a net asset value total return of 10.0%, 4.8 percentage points higher than the return of the benchmark, the MSCI All Country World ex-US Index.The total dividend for the year will be 13p, up […]

Hugh Young to be named manager of Aberdeen Asian Smaller (which will also change its name) – Aberdeen Asian Smaller Companies reports that, over the year to 31 July 2018, its net asset value rose by 4.6% in sterling total return terms, underperforming its benchmark by 2%. The underperformance happened in the first half of the […]

Regulator verdict on Trinity Housing – Following on from our story of 3 October, The Regulator for Social Housing has passed a regulatory judgement on Trinity Housing Association. Its conclusion on governance and viability is: G3 (Non-compliant) The provider does not meet our governance requirements. There are issues of serious regulatory concern and in agreement […]

Hg Capital Trust sells Atlas- Hg Capital Trust (HGT) has agreed to sell Atlas to Mintra Group. Atlas is a specialist Learning Technology Services Business which offers learning solutions to safety critical industries. Atlas has served standard bodies, regulators, and more than 1,700 corporate customers. They have 1,000+ learning courses in 110+ countries and they […]

Standard Life Investments Property Income buys in Birmingham- Standard Life Investments Property (SLI) has recently purchased  multi let office for £23.75 million with an initial yield of 7.6%. The building is 140,960 sqft and is located on Hagley Road in Birmingham. The building is located 1 mile from Birmingham city centre. With major infrastructure projects […]

Schroder Income Growth continues to increase dividends- Schroder Income Growth Fund (SCF) has raised dividends by 5.4%, with total distribution of 11.8 pence per share. This was twice that of the 2.7% that was achieved by the Consumer Prices Index over the same period. This is in line with the objective of the Schroder income […]

Growth better than Income for JPMorgan Elect- JPMorgan Elect has released its annual report for the year ending 31st August 2018. The Managed Growth portfolio delivered a total return on net asset value of 13.6% which outperformed the benchmark which returned 8.1% an out performance of the benchmark by 5.5%. For the year end 31st […]

Urban Logistics buys site in Bedford- The site was purchased from 3M Products Limited for total consideration of £17.1 million. The property is located at Hudson Road, Bedford. The land consists of a development site and a building with a total of 20.1 million acres of land. The building is 183,883 sq ft and is […]

JZ Capital announces tender offer–  JZ Capital has announced that they will be buying back 50 million dollars of their own shares and then cancelling them. They will be buying them back  at a price no wider than a 5 per cent of NAV (current NAV per share is $9.82). The proposed offer is still […]

Ranger Direct Lending says a Trustee appointed to Princeton bankruptcy – Ranger Direct Lending has announced that a chapter 11 Trustee has been appointed to Princeton’s bankruptcy case. Previously announced by Ranger Direct Lending (RDL) , and reported by us in a previous news posts (click here to view more). Ranger is currently in the […]

Tritax EuroBox buys logistics warehouse near Bochum- Tritax Eurobox has announced today that they have acquired a prime, new modern logistics warehouse near Bochum, in the Rhine-Ruhr region of Germany (which they describe as a core established logistics area). Tritax has divided the 36,400 sqm building into four units with eaves height of 12 metres. […]

Target Healthcare REIT buys in Oxford and Sevenoaks- the value of the two development sites is £37 million (including transaction costs and future development work). The rest of Target Healthcare’s remaining uncommitted capital is fully deployed. The remaining development will be funded under capped development contracts. The two projects are located in Cumnor Hill, Oxford […]

Henderson Far East Income reports on flat year – Henderson Far East Income says that, for the year ended 31 August 2018, its net asset value total return was 1.5% and share price total return -0.6%. These compare to a return of zero on the MSCI AC Asia Pacific ex Japan High Dividend Yield Index and 2.4% for the […]

Edinburgh Dragon offers 30% tender offer – Edinburgh Dragon Trust has released its results or the year ended 31 August 2018. The trust’s NAV total return for the year came in a whisker ahead of the return on its benchmark (2.3% versus 2.2%). The shares did a bit better, returning 3.4% as the discount narrowed a little. […]

Aberdeen Standard European Logistics buys Dutch warehouse – Aberdeen Standard European Logistics has exchanged contracts to acquire a new development in Oss, the Netherlands, for a purchase price of €15.7m, providing a net yield of 5.3%. The agreement with developer Heembouw Breda B.V is structured as a forward funding deal with a 5.5% coupon rate. The development […]

Fidelity Special Values cuts fees after good year – Fidelity Special Values has published its results for the year ended 31 August 2018. Its NAV increased by 8.7% over the year and the share price by 14.0%, both well above the 4.7% return of the benchmark index (all on a total return basis). As a result of […]

International Biotechnology benefits from narrowing discount – International Biotechnology has reported that, over the year ended 31 August 2018, its NAV laggeded the NASDAQ Biotechnology Index (NBI) a little, returning 8.6% versus the NBI return of 10.1%. A narrowing discount meant that shareholders saw a total return of 13.7%, however. The biotech sector outperformed the UK equity market over […]

Tritax EuroBox buys Action Logistics warehouse near Hannover –  Tritax EuroBox has bought a prime, modern logistics warehouse at Peine, near Hannover, Germany (which they describe as a key logistics location). The property is let to Action Logistics Germany GmbH, a subsidiary of Action BV, the fastest growing non-food discount retailer in Europe, headquartered in the Netherlands […]

Hadrian’s Wall standing firm – Hadrian’s Wall Secured Investments has published results for the year ended 30 June 2018. Its ordinary share NAV rose to 98.2p from 97.7p over the period but the share price fell from 107p to 102p. Total dividends of 6.0 pence per ordinary share were declared and paid in the year ended 30 June […]

Henderson International Income held back by US underweight – Henderson International Income Trust has published results covering the year to the end of August 2018. Its NAV total return for the period was 5.9% and the return to shareholders was 5.6%. These figures are well behind the return on the MSCI World (ex UK) Index, which returned […]

Summit Germany buys Fortress portfolio – Summit Germany Limited has entered into an unconditional agreement to acquire a portfolio of commercial properties from several subsidiaries of Fortress Immobilien AG. The total purchase price is €86m, including acquisition costs. The acquired properties consist of 8 well located multi service centers in major cities in Germany; mainly Berlin, Frankfurt […]

Greencoat Renewables buys Ballybane Wind Farm – Greencoat Renewables has announced the acquisition of Ballybane, a 48.3MW wind farm situated in County Cork. The wind farm was acquired from an independent local developer for a total consideration of €61.3m. This brings Greencoat Renewables’ portfolio of operational wind farms to 251MW capacity. Ballybane wind farm consists of 21 […]

Residential Secure Income buys shared ownership portfolio – Residential Secure Income has exchanged contracts to acquire 34 new build homes located in the London Borough of Barnet, which it intends, using government grant funding, to convert into shared ownership homes. It says that it has plans to make similar deals in future, making use of government grant […]

SEGRO sells Belgian warehouses to Tritax EuroBox – SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership joint venture, has sold four big box warehouses and adjacent development land in Belgium to Tritax EuroBox. The partnership has received net proceeds of €83.4m (SEGRO owns 50 per cent of the partnership so its share […]

International Public Partnerships invests in ultrafast digital network – International Public Partnerships will invest up to around £9.9m into Nextgenaccess Ltd, a developer of ultrafast wholesale and custom fibre infrastructure. The Nextgenaccess investment falls within the framework of International Public Partnerships’s already announced overall commitment of up to GBP45 million to digital infrastructure via the National Digital […]

Aberdeen Latin American misses out on Petrobras recovery – Aberdeen Latin American Income has published results to the end of August 2018. The NAV retreated by 18.8% in sterling terms, lagging its benchmark’s loss of 10.9%. The share price return was -18.5%. The chairman’s statement lays the blame for the falling benchmark on “the liquidity squeeze on the […]

BlackRock Greater Europe has a great year – BlackRock Greater Europe Investment Trust has announced results for the year ended 31 August 2018. The NAV increased by 11.8%, well ahead of a rise of 1.4% in the World Europe ex UK Index. The share price rose by 12.5% over the same period. The revenue return per share amounted to 5.95p per […]