In QuotedData’s other news 6 March 2020 – Income-focused Murray International (MYI) reported annual results to 31 December 2019. The company’s total return NAV increased by 12.4%, which came in below a total return of 21.1% from the company’s benchmark (40% FTSE World UK Index and 60% FTSE World ex UK Index). MYI said that within […]
Premier Global Infrastructure has much better 2019 – 2019 was a much improved year for the Premier Global Infrastructure Trust. The portfolio’s total return, measuring the return on the portfolio including all income and costs was 19.0%. The company’s capital structure, geared by its zero dividend preference shares, amplified the gain resulting in a total return on […]
BBGI buys Canadian hospital and road projects – BBGI has completed the acquisition of a further 25% equity interest in the Stanton Territorial Hospital Project. Stanton is an operational 27,00sqm hospital with 100 patient rooms located in Yellowknife, Northwest Territories, Canada. The concession runs until 2048 and availability payments are received from the Government of Northwest […]
In QuotedData’s other news 5 March 2020 Sirius Real Estate has secured €50m funding through a Schuldschein loan offering a blended interest rate of 1.60%, with an average maturity of 3.7 years. Urban Logistics REIT has topped up the £130m it raised the other day with a further £6.1m from its open offer and offer for subscription. […]
Gresham House buys RESI’s manager – specialist asset manager, Gresham House is buying TradeRisks Limited, which, amongst other things, is the manager of Residential Secure Income REIT. Gresham is paying £7m upfront and up to £4m more subject to the achievement of certain performance targets. TradeRisks has a fund management business and is aslo specialist […]
Pershing Square Holdings’s (PSH) manager Bill Ackman has released the following statement in reaction to volatility in markets: “During the past ten days, we have taken steps to protect the portfolio from downward market volatility. We have done so because we believe that efforts to contain the coronavirus are likely to have a substantial negative […]
Embattled shopping centre landlord Intu Properties has failed in its attempts to raise up to £1.5bn of emergency cash and could be in trouble of breaching debt covenants by July. Intu had, over the past several months, been engaged in extensive discussions with its shareholders and potential new investors regarding a possible equity raise of […]
The Board of The Edinburgh Investment Trust (EDIN) has announced that it has entered into an management agreement with Majedie Asset Management (Majedie), the company’s new Alternative Investment Fund Manager (AIFM), effective as of today, Wednesday 4 March 2020. The investment management agreement reflects the heads of terms announced on 11 December 2019, where EDIN decided […]
Oakley Capital (OCI) announced that Oakley Capital Private Equity III (fund III) has agreed a deal to acquire a majority stake in Globe-Trotter Group (Globe Trotter), a British luxury baggage brand, from the entrepreneur Toshiyasu Takubo. OCI says that Toshiyasu, who has developed the brand significantly in the Japanese market, will retain a minority stake in the company. OCI’s […]
In light of the coronavirus (Covid-19) afflicted volatility across markets, Tufton Oceanic (SHIP) has provided an update. The company says its strategy of portfolio diversification and strong charter coverage has insulated SHIP from the recent market volatility caused primarily by Covid-19. The company’s update made the following points: Year to date, fair value losses in containerships […]
In QuotedData’s other news 4 March 2020 – Crystal Amber (CRS), the activist UK smaller companies trust, reported interim results to 31 December 2019. It was a difficult period for CRS, with its NAV (adjusted for dividends) falling by 26.4% over the period, compared to a 10.7% increase in the Numis Small Cap Index. CRS said […]
Covid-19 in Vietnam an update from VietNam Holding. One of our clients, VietNam Holding, has published an update on Vietnamese efforts to contain the coronavirus. We thought it worth reproducing in full. “Since mid-January 2020 when an outbreak of novel Coronavirus (Covid-19) first appeared in the city of Wuhan, in central China’s Hubei province, the […]
Apax has its best year since IPO – the 22.7% return on NAV that Apax Global Alpha posted for 2019 was its best result since its IPO in 2015. That figure is in euros, in sterling the return was 20.5%. The equity and debt portions of the portfolio generated returns of 9.1% and 11.8% respectively […]
RIT Capital Partners finished 2019 with an NAV of 2004p, it generated a return ob NAV of 12% over 2019 and a return to shareholders of 12.5%. Dividends totalled 34p and the board says they will be at least 35p in 2020. The chairman said “Despite a muted outlook for global growth and earnings, 2019 […]
In QuotedData’s other news 3 March 2020: AEW UK Long Lease REIT has changed its name to Alternative Income REIT Gresham House Energy Storage managed to raise £31m, despite the ongoing market volatility. It will issue 30m shares at 104p each. The dispute between Pollen Street Secured Lending and its manager, Pollen Street Capital rumbles on. […]
It was announced earlier today that the UK will reintroduce support for onshore windfarms, four years after deciding to end support for new projects. It is believed that the policy reversal reflects a view that onshore wind will be crucial to the UK’s chances of delivering on its target of net zero carbon emissions by […]
Over Greencoat Renewables’s (GRP) full-year results period to year-ended 31 December 2019, the Ireland-focused renewable energy infrastructure company grew considerably with two successful equity placings taking its market capitalisation from €391.4m to €747.3m. Portfolio-wise, GRP said its stable of 15 wind farms generated 1,154GWh in the year, 4% below budget, primarily due to higher than expected curtailment. […]
In QuotedData’s other news 2 March 2020 – Schroder Real Estate (SREI) provided the following lettings update: “Since 1 January, 16 new lettings, renewals and rent reviews have completed, generating additional income of approximately £370k per annum. The company is currently actively progressing a number of other lettings which are currently under offer that have […]
JPMorgan American shakes up gearing – JPMorgan American Investment Trust has received funds from the sale of $65 million fixed-rate 11 year unsecured notes, which will pay a fixed annualised coupon of 2.55%. The notes mature on 27 February 2031 and pay interest semi-annually. In terms of seniority, they rank alongside the company’s existing revolving credit […]
BlackRock World Mining drops coal from remit – in conjunction with the release of BlackRock World Mining’s annual report for 2019, the board has had a rethink about its benchmark and examined the trust’s ESG credentials. The managers have decided that, across their business, they will no longer invest in businesses that derive more than […]
In QuotedData’s other news 28 February 2020: Aberdeen Standard European Logistics has announced a 4% increase in its NAV (in euro terms) which translates into a small fall in its sterling NAV as the pound strengthened following the election. The NAV moved from €1.07 to €1.11 and 94.95p to 94.21p. The company continues to pay quarterly […]
London developer Helical has sold an office campus in Chiswick for £41.58m, as part of its strategy to dispose of non-core assets. It has sold Power Road Studios to a private UK investment manager at a net initial yield of 4.8%. The campus provides 57,164 sq ft of workspace set across four studio buildings. It is […]
Independent caught out by Eddie Stobart – Independent Investment Trust reports that, over the year to 30 November 2019, its NAV total return was 8.5%, 2.5% behind the All-Share Index and 4.6% behind a global index. The chairman says that poor stock selection, notably since the EU referendum, is largely to blame, with the Eddie […]
Smithson powers on – 2019 was a great year for Smithson Investment Trust and its results, which cover the period from the launch of the trust in October 2018 to the end of December 2019, show the trust generating an NAV return of 25.5% and a share price return of 29.8% against an 11.8% return […]
Greencoat UK Wind powering 1m homes but low wind speeds and falling power prices knock earnings – Greencoat UK Wind says its power generation was behind budget in 2019 – as wind speeds were below average for the year – its earnings were also impacted by falling power prices. Reduced assumptions about future power prices […]
In QuotedData’s other news 27 February 2020 JLEN Environmental’s fundraise was significantly oversubscribed. The placing, which was only available to professional investors, will result in the issue of 49,701,820 new shares at 115p, raising gross proceeds of £57.2m. JLEN will use the money to finance “an identified pipeline of near-term opportunities across the bioenergy and flexible […]
The board of Global Sustainable Farmland Income has this afternoon extended its IPO period, which was initially open until 25 February. Covid-19 has been heavily impacting financial markets The fund’s board has said that it has been pleased with the reception that the issue has received from a number of large institutional investors and discretionary […]
Intu has agreed terms to amend and extend one its loans, conditional on it raising £1.3bn of equity. The revised four-year £440m revolving credit facility will replace intu’s existing £600m facility that is due to expire in October 2021. The revised facility will be provided by all seven of the existing banks who participate in […]
US private equity giant Blackstone has backed the UK student property sector with the £4.7bn acquisition of a student accommodation company. It has agreed a deal to buy IQ Student Accommodation from Goldman Sachs and Wellcome Trust, in a deal that is said to be the UK’s largest-ever private real estate transaction. IQ owns and […]
Capital & Regional, the shopping centre REIT, has appointed David Hunter as non-executive chairman. Hunter, who is also chairman at Custodian REIT, will take up the post at the conclusion of the group’s 2020 Annual General Meeting on 20 May 2020. He will initially join the board as a non-executive director from 9 March 2020. […]
