Following recent market turbulence, which has pushed Keystone’s gearing up, its board has announced that it has decided to amend its gearing policy “with the intention of safeguarding shareholder value as far as possible”. Under the new policy, the portfolio manager may not make net purchases at times when net borrowings exceed 15% of net […]
Tufton Oceanic Assets Limited (SHIP) has announced that it has acquired a Handysize Bulk Carrier for US$7.0m. This acquisition takes SHIP’s fleet to sixteen vessels, leaving it with approximately US$15m of cash available for investment. SHIP’s manager, Tufton Oceanic, continues to identify a pipeline of opportunities across a range of the company’s target sectors. About the […]
The Board of Strategic equity Capital (SEC) has announced that, after an extensive review of SEC’s management arrangements, it has entered into heads of terms to appoint Gresham House Asset Management Limited as the Company’s new investment manager and alternative investment fund manager. It is also the intention that the proposed joint venture between Gresham […]
In QuotedData’s morning briefing 27 March 2020: As normal life continues to be impacted by the outbreak of covid-19, we have seen a number of updates from companies detailing their responses. Strategic Equity Capital has announced that it is moving its management contract to a new joint venture between Gresham House Asset Management and Aberdeen Standard […]
British Land has suspended its dividend payments and said it was offering smaller shopping centre tenants a three-month rental holiday due to covid-19. The group said larger retailers and leisure tenants would be able to spread payments over the six quarters from September 2020. The company, which owns and develops office and retail property, said […]
Impact Healthcare REIT, which owns a portfolio of care homes in the UK, has provided a covid-19 business update. The group said the number of occupied beds in its portfolio has been stable, with 3,848 beds occupied on 3 January 2020, and 3,886 beds occupied on 20 March 2020. It added that a number of the group’s […]
Self-storage giant Big Yellow Group (BYG) has reported a drop-off in occupancy as a result of covid-19. The company said current like-for-like occupancy across its portfolio is 81.6% across 56,000 customers. In half-year results to the end of September 2019, like-for-like occupancy was 84.1%. The group said it had seen an increase in demand from […]
An update from International Public Partnerships – International Public Partnerships had intended to publish its results today but these have now been delayed. So, instead, it has published an update that contains much of the salient information that would have been in the results statement. ” 2019 was a good year for the company with a […]
covid-19 update from JLEN Environmental – “The JLEN portfolio has made a positive start to the calendar year, with generation approximately 15% over budget including very strong performance from the wind assets due to good wind resource. Foresight anticipates that there may be a further short-term reduction in power prices due to an anticipated drop […]
Intu Properties has said it expects to seek covenant waivers from its lenders as the impact of covid-19 hits its rental income. The group, which owns shopping centres in the UK and Spain, said it had received 29% of its rent for the second quarter when it fell due yesterday (25 March 2020). For the […]
Better Capital mulls delisting as covid-19 hits In the 2012 cell, which contains double glazing firm, Everest, and office supplies business, SPOT: “Everest had a strong start to the year with encouraging progress across the company. However, in recent days sales and installation visits became progressively more difficult and so operations were largely suspended yesterday […]
covid-19 update from ICG Enterprise – “Given the rapid escalation of the crisis, we currently have limited visibility on the short and longer-term impact of COVID-19 on the global economy. It is therefore difficult to accurately gauge the impact on the portfolio at this stage. Performance will vary between geographies, sectors and companies and be […]
In QuotedData’s morning briefing 26 March 2020: As the excitement of yesterday’s $2trn stimulus gave way to the reality of sharply rising cases in the US and stories of a potential uptick in cases in Japan (where the virus seemed to be under control) markets are falling once again. NB Private Equity has increased its borrowing […]
JPMorgan Smaller Companies (JMI) invests in the UK smaller companies sector. The company has this evening released interim results to 31 January 2020. Mirroring many of its peers, the company’s shares have been hit hard as capital has moved away from a sector that had erstwhile been the main beneficiary from the political developments that […]
In a update release covering its in February, BlackRock World Mining’s (BRWM) Evy Hambro and Olivia Markham (representing the manager), had this to say: Performance “The company’s NAV decreased by 9.9% in February, underperforming its reference index, the MSCI ACWI Metals and Mining 30% Buffer 10/40 Index (net return), which returned (9.2%). (Figures in GBP) […]
The title of this article was changed on 26 March 2020 to correct an error spotted by one of our readers. The UK equity income sector investment company, Temple Bar (TMPL), noted the following in its update to the market: “Going into 2020 the TMPL portfolio was almost fully invested, including borrowings. The manager believed, […]
Pershing Square books astonishing profits on hedges – in an update to our post from 4 March 2020, Pershing Square has revealed that it has cashed in its gains on the hedges it made against market falls. The hedges were designed to provide asymmetric returns – that is to say the potential losses were relatively […]
St Modwen Properties has said it is in a strong position to handle the disruption caused by covid-19. The group has adjourned its AGM, scheduled for 27 March 2020, and therefore payment of its final dividend for 2019 of 5.1 pence per share, which was due to be paid on 3 April 2020, as this requires […]
Private equity company, Oakley Capital Investments (OCI), provided the following update: “OCI has increasingly focused on investing in companies that provide software solutions and digital infrastructure services and that utilise online delivery platforms. These types of business models are potentially less susceptible to disruptions caused by the pandemic compared with the broader economy. Nonetheless, the […]
Bluefield Solar (BSIF) published the following update: “BSIF reconfirms its guidance of a full year dividend of 7.90pps for the financial year ending June 2020. This will be fully covered by earnings and post debt amortisation. Based on yesterday’s closing share price the dividend yield on the forecast full year dividend was 7.05%.” COVID-19 Contingency […]
In QuotedData’s morning briefing 25 March 2020: The US reached an agreement to provide a $2tn stimulus package Meanwhile, India became the latest country to send its population into lock down Starwood European Real Estate Finance (SWEF) said that it, in line with the FCA’s guidance, it would delay publishing its annual results RM Secured […]
Augmentum Fintech covid-19 update – the investment management staff are working from home and the tone of the statement is upbeat, based on the premise that these young companies can more easily adapt to the changed circumstances. In fact, they reckon that over 40% of the portfolio may actually benefit. In addition, the company has […]
In QuotedData’s morning briefing 24 March 2020: UK goes into lock down, following a number of other European countries BlackRock Greater European will not hold a tender offer in May 2020, reasoning that the discount was under control ahead of the recent volatility Jupiter US Smaller Companies was beating its benchmark at 31 January 2020 […]
BB Healthcare (BBH) has been actively growing over the past year, with issued shares increasing by 36% over the financial year to 30 November 2019. We covered its annual results last month, which you can access by clicking here. The environment has obviously changed beyond recognition since we last wrote on BBH, with Covid-19 developing […]
CATCo Reinsurance Opportunities (CAT) has reported annual results to 31 December 2019. Catastrophic activity over 2019 was relatively benign, following two consecutive years of severe natural catastrophic events. CAT said global insured losses during 2019 are estimated to have amounted to $52bn, in line with the long-term average, compared to 2017 and 2018, which were the […]
The Malaysia and Vietnam-focused property development company, Aseana Properties (ASPL) announced the following update on the impact of the Covid-19 virus: “The board of ASPL has been closely following events related to the Covid 19 virus and has been actively planning how to mitigate the impact of it as much as possible. We have been very […]
Private equity company, Pantheon International (PIN), invests in funds of funds in the primary and secondary market, and directly into private companies through co-investments. Earlier this morning, PIN released a joint-statement from its board and manager: Recent substantial movements in asset prices and currency exchange rates associated with the Covid-19 crisis and its inevitable impact on […]
SDCL Energy Efficiency Income (SEIT), the renewable energy infrastructure company, released an update. The company’s manager and board believe that SEIT’s portfolio remains well placed to continue to generate an attractive total return for investors. SEIT noted: “The company’s portfolio currently consists of 26 energy efficiency investments located in the UK, continental Europe and North […]
The UK and Europe debt (structured finance) fund, TwentyFour Income (TFIF), released an update: “It has been a challenging couple of weeks for obvious reasons, which by turns we have compared to the market volatility seen in late 2018 (the Fed at odds with the market about rate policy, the US-China trade war, Brexit), early […]
Greencoat Renewables (GRP) has made its first investment in continental Europe after reaching an agreement to acquire 51.9MW of operating wind capacity in France. The portfolio of operating wind assets is being acquired from John Laing Group for a total consideration of €30.3m. This will take GRP’s total installed capacity to 528.1MW Entering France’s stable and supportive […]
