Middlefield Canadian Income (MCT) has announced its results for the year ended 31 December 2019. During the year, MCT provided an NAV total return of 27.3%, outperforming both its Benchmark and the S&P/TSX Composite Index, which returned 26.9% and 23.9%, respectively. Since inception in 2006, the Fund has generated a cumulative return of 155.6% which […]

Invesco Perpetual UK Smaller Companies (IPU) has announced its annual results for the year ended 31 January 2020. During the year, IPU provided nav and share price total returns of 30.4% and 35.2%, outperforming its Benchmark Index, the Numis Smaller Companies Index (excluding Investment Companies), which returned +13.7%. To give some context, the year under […]

Tetragon Financial’s investor day on Wednesday 29 April 2020 has been cancelled in light of the current restrictions. However, it will host a conference call for investors on 30 April 2020 at 15:30 GMT / 10:30 EST to discuss its Q1 Factsheet and to provide a company update. Details will be circulated shortly and posted […]

Self-storage specialist Big Yellow Group has reported relatively robust trading during the covid-19 pandemic. The group said it saw heightened levels of activity both in and out of the business in the last two weeks in March. It recorded a net overall loss of 23,000 sq ft in occupancy in the two-week period. It said customer move-ins […]

BMO Commercial Property Trust’s net asset value (NAV) fell 5% in the quarter to 31 March 2020 as the covid-19 pandemic hit the value of its portfolio. The unaudited NAV per share was 124.3p compared to a NAV of 130.9p per share at the end of December 2019. The NAV is based on the external […]

In QuotedData’s morning briefing 16 April 2020, as news emerges of a three-week extension to the lockdown in the UK and a debate rages over the availability of personal protection equipment for care home staff, we have news of: talks between Amedeo and Emirates, fundraisings by two of Augmentum’s companies, results from EPE Special Opportunities, and […]

COVID care home update from Target – Target Healthcare REIT owns 73 modern, purpose-built care homes. It has provided an update on its business and portfolio in the light of the evolving COVID-19 pandemic. This is ahead of a planned announcement on its NAV and dividend scheduled for 21 April. “The Group notes the recent commentary […]

Luceco recovery fires up EPE Special Opps – over the year ended 31 January 2020, EPE Special Opportunities saw a 54.6% increase in its NAV per share. This was driven by strong performance from two of its investments – Luceco and Whittard. The share price rose by 33.9% over this period. The statement says: Whittard […]

Amedeo in conversation with Emirates – Amedeo Air Four Plus says that its manager, Amedeo Limited has received written confirmation that Emirates are seeking some form of financial accommodation from the company. The board has asked the manager to continue its negotiation with Emirates and also with the company’s lending banks which financed the  acquisition of […]

Augmentum hails successful fundraisings – Augmentum Fintech has highlihted announcements by portfolio companies Onfido and Previse that they have successfully closed fundraisings. Onfido (www.onfido.com), the global identity verification and authentication company, has raised $100 million, led by global investment firm TPG Growth. This funding round implies a value of Augmentum’s holding in Onfido of approximately GBP10.87 million. […]

Over March, we looked at Alcentra European Floating Rate Income (AEFS), after it announced its intention to wind-up – you can access the story here. In an update released today, AEFS said that the fhe fund was down (17.18%) in gross terms over March, behind both the Credit Suisse Western European leveraged loan index, which […]

Picton Property will review the level of its dividend due to the covid-19 pandemic. The company has collected 71% of rents due for the current quarter, as at 7 April 2020. Short-term monthly payment plans have also been agreed with some tenants, which brings this figure to 80%. Picton, which owns a £665m diversified UK […]

Europe-focused BMO Private Equity (BPET) posted its year-end results this morning, covering the 12-month period to end-December 2019. An NAV total return of +10.6% was delivered, while the discount narrowed to (8.8%) on the back of a total market return of +23.6%. New investment highlights Eight new commitments to funds were made during the year, […]

Specialist regeneration developer and investor U and I Group has suspended its dividend and is not proposing any dividend for full year 2020. The company said it would preserve £4.4m of cash by not declaring a final dividend. The group’s development timelines have been massively impacted by closures during the covid-19 pandemic. It now expects […]

Over Schroder Asian Total Return’s (ATR) annual results period to 31 December 2019, it delivered a total NAV return of 15.7% (by comparison, the reference index increased by 14.6%). Clearly, the landscape has changed monumentally since the period-end. In what is his final note to investors as chairman, David Brief, said: “The sudden outbreak of […]

UK-focused Mercantile (MRC), the £1.5bn market cap trust, reported annual results to 31 January 2020. The company out performed its benchmark, with a total NAV return of +28.0% (shareholder’s return was +40.2%). Stock-specific highlights from the year include: Winners: One of the company’s largest holdings is a long standing investment in alternative asset manager Intermediate Capital Group whose shares […]

Martin Currie Global portfolio holding up well – since turning out a decent set of results for the year ended 31 January 2020, Martin Currie Global Portfolio has extended its run of outperformance by falling much less than its benchmark index since COVID-19 hit. For the year ended 31 January 2020, the trust generated a […]

German business park owner Sirius Real Estate has provided a covid-19 update in which it said it had collected 75% of rent for the month of April. The figure, as at 9 April 2020, represented around 90% of the normal working pattern, the company said. A small number of its tenants are facing covid-19 related […]

In QuotedData’s morning briefing 14 April 2020: Oil bounces a bit as OPEC announces production cuts Ashoka India Equity said that Manoj Garg, a member of the team managing the trust, has relocated from Mumbai to Singapore and will no longer be involved in the management of the fund. Aberdeen Asia Focus Income has renewed a […]

Gresham House Energy Storage buys 50MW Suffolk battery project – Gresham House Energy Storage Fundhas conditionally agreed to acquire a 50MW battery project located near Wickham Market, Suffolk. The project was in the exclusivity pipeline identified in the October 2018 IPO prospectus. Wickham is a battery-only site with a 50MW/40MW export/import capacity which is currently expected […]

One of the bigger news stories of the week in investment companies was Perpetual Income & Growth’s decision to remove Mark Barnett as manager and invite offers for the management contract. Interested parties have until 5pm on 17 April to throw their hat into the ring. One of the more bizarre reactions to this was […]

As another week of lockdown comes to an end, property companies continue to update the market on the impact on their businesses. The latest slew of rent collection updates reveal that it isn’t just the retail, leisure and hospitality sectors that have been hit. Almost all companies have seen an impact on income (apart from […]

Town Centre Securities (TCS) has provided an update on the impact of covid-19, stating it has collected 71% of its rent for the quarter. For the rent quarters commencing 25 March and 1 April, TCS billed £4.9m of rent and service charge. As at 8 April 2020 it collected £3.5m or 71%, with a further […]

Warehouse REIT has committed to paying its 2020 dividend target. The group paid its third quarter dividend of 1.6p per share on 31 March 2020 and added that it remained committed to meeting its dividend target for the financial year to 31 March 2020 of 6.2p per share. As at 7 April 2020, it collected […]

Custodian REIT said it would reduce its quarterly dividend to a level broadly linked to net rental receipts. It said it intended to make the fourth quarterly interim dividend payment relating to the quarter ending 31 March 2020 of 1.6625p per share on 29 May 2020, reflecting the full collection of rent for that period. But due to a disruption to cash collection in the current quarter, as a […]

Regional REIT has reported a net asset value (NAV) fall of 2.5% in 2019 results and provided a covid-19 update, stating it had received 82% of rent due for the quarter. The group posted an EPRA NAV per share of 112.7p for the year to the end of December 2019, compared to 115.5p in 2018. Adjusted […]

Dunedin Income Growth did really well last year – over the year ended 31 January 2020, Dunedin Income Growth delivered a net asset value total return of 22.2% on a total return basis, more than double the return on the All-Share Index, which produced a total return of 10.7%. The share price total return for the […]

International Public Partnerships paints robust picture – in its results for 2019, International Public Partnerships (INPP) emphasises the reliability and predictability of the cash flows that underpin its business. For the 2019 calendar year, its NAV rose from 148.1p to 150.6p and it paid dividends totalling 7.18p, up from 7.0p, whcih were covered by the […]

In QuotedData’s morning briefing 9 April 2020: Rating agency, Moodys has placed Hammerson’s credit rating under review. Currently it rates it as Baa1 (the equivalent of BBB+. If the rating falls below Baa3/BBB-, Hammerson’s debt will no longer be classed as investment grade and it could find it more expensive and harder to borrow and to […]

Urban Logistics REIT has acquired nine assets and a development site for a total of £56.1m. The deals follow its £136.1 million equity capital raise which completed in March. The acquisitions were made at an average net initial yield of 6.3% and comprise: a portfolio of seven single-let regional distribution warehouses for £31.9m; an NHS distribution centre in […]