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 […]
London office developer Derwent London has confirmed its final dividend. The group will make a final dividend payment of 51.45p on 5 June 2020. Derwent said it had so far received 73% of rents due on the quarter day, with another 6% now being received on a monthly basis in May and June. Therefore, at […]
Tritax Big Box REIT has withdrawn its dividend target for 2020 in light of the covid-19 pandemic. The company has collected the majority of its advanced quarterly rent that was due on 1 April 2020 (86%, with a further 10% expected to be paid by the end of May 2020). Around 50% of Tritax Big […]
Fidelity Japan (FJV) has released annual results to 31 December 2019. The company delivered an NAV total return of +36.6%, more than double its reference Index which returned +14.6%%, and the share price total return was +39.4%. Review from chairman David Robins “Holdings in mid to large cap growth stocks were the primary source of […]
NextEnergy Solar (NESF) has released an operational update with respect to its performance over the financial year-end period to 31 March 2020. For the current financial year ending 31 March 2021, NESF says that around 61% of revenues in the UK will be derived from regulated revenues (renewable obligation certificates and others), and approximately 39% […]
Marble Point Loan Financing (MPLF) invests in US loans directly and indirectly through investments in collateralised loan obligation (CLO) equity and debt securities issued by Marble Point CLOs and Marble Point loan acquisition facilities. The company released the following update this morning: “As detailed in the company’s previous monthly reports, the quarterly cash distributions from its portfolio […]
Shareholders have voted to extend Polar Capital Global Financials’s (PCFT’s) life indefinitely. following a general meeting held yesterday (7 April 2020). Results of the general meeting and tender offer “Subsequent to the company’s shareholder circular of 12 March 2020, in which proposals were put forward for the provision of a tender offer to shareholders together […]
Greencoat UK Wind (UKW) said that to-date, there has been no material impact on the company’s day-to-day operations or performance. Aberdeen Standard Asia Focus (AAS) released interim results to 31 January 2020 ( Total return performance in NAV and share price terms was (8.3%) and (6.2%), compared to the MSCI Asia (ex-Japan) smaller companies index […]
Workspace Group, one of London’s leading providers of flexible office space, collected around 50% of rents for the quarter. The group said it expects a significantly lower level of cash rental income in the short term, as its 3,000 business tenants battle against the impact of the coronavirus pandemic. Workspace said it had received a “large […]
