An early Christmas present We hope that all of our readers are getting into the festive spirit, and to help with that the gracious team at JPMorgan has given us an early Christmas present. For those who are not yet aware, JPMorgan Asset Management (JPM), which runs numerous investment trusts such as JPMorgan Japan (JFJ) […]
Scottish Mortgage’s Lawrence Burns speaks to Dominik Richter, co-founder and chief executive at HelloFresh, about streamlining the journey from farm to front-door, reducing food waste and providing hassle-free meal options for consumers. As with any investment, your capital is at risk. With its innovative approach to reducing the pain of meal planning and grocery shopping, […]
In QuotedData’s morning briefing 15 December 2023: Gresham House Energy Storage (GRID) has announced that, on 12 December 2023, the National Grid Electricity System Operator has successfully launched its new “open balancing platform” and “bulk dispatch optimiser ” and started using it to trade battery energy storage systems in the balancing mechanism. The grid’s inability […]
abrdn Diversified Income and Growth has been talking to its shareholders. In the light of the feedback received during these conversations and the trust’s entrenched discount to NAV, the board has concluded that it is in the best interests of shareholders as a whole to put forward proposals for a managed wind-down of the company. […]
The board of Invesco Select Trust has reviewed the company and its strategy, with the objective of broadening the appeal of the company as well as improving liquidity and narrowing the discount. It intends to put forward proposals to shareholders to simplify the corporate structure and to introduce certain features that it believes will appeal […]
JPMorgan Asia Growth and Income says that over the 12 months ended 30 September 2023, it genetrated an NAV return of 6.4% and a return to shareholders of 7.3% (as the discount narrowed slightly during the review period, to 9.2% at end September 2023, from 9.6%), both better than the 1.4% return on the benchmark […]
In QuotedData’s morning briefing 14 December 2023: JZ Capital Partners (JZCP) is getting $62.5m in connection with the sale of Felix Storch from the portfolio of secondary investments that it sold in 2020. It had the right to share in distributions from that fund above an agreed limit. The transaction adds 19 cents to its […]
Henderson European Focus Trust (HEFT) announced its annual results for the year ended 30 September 2023. NAV total return was 24.1%, well ahead of the benchmark return of 3.6% and also outperforming the broader peer group average. Share price total return was 27.7% Major contributors to the outperformance included semiconductor capital equipment stocks BE Semiconductor […]
Polar Capital Global Healthcare (PCGH) announced its annual report for the year ended 30 September 2023. NAV total return was 4.21%, ahead of the benchmark MSCI ACWI Health Care Index which returned 1.19%. Share price total return was 1.92%. The outperformance was driven by strong stock selection, largely due to the focus on the company’s […]
Schroder UK Mid Cap Fund (SCP) announced its annual results for the year ended 30 September 2023. The company’s NAV total return for the year was 17.6%, outperforming the benchmark which produced a total return of 13.6% over the year. The share price total return was 17.4% due to a very small widening of the […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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