US Solar fraud investigation – The board of US Solar Fund found out yesterday that its investment manager, New Energy Solar Manager, has been the victim of a fraud in relation to contracted construction payments totalling $6.9 million. The payments were made from the US bank account of a USF project company to a third party […]
Fidelity Special Values gets new co-manager – Fidelity Special Values says that Jonathan Winton has been appointed as co-portfolio manager alongside Alex Wright. This will take effect from 3 February 2020. Alex Wright remains the lead manager and accountable for portfolio construction. Fidelity is appointing co-managers across its business. Mr Winton joined Fidelity as an analyst in […]
Impact Healthcare REIT, which owns a portfolio of UK healthcare real estate assets, has reported a slight increase in its net asset value (NAV) in the three month period to the end of December 2019. The group’s NAV at 31 December 2019 was £340.7m or 106.81 pence per share, compared to £303.7m or 106.00 pence per share at 30 […]
West End of London landlord Shaftesbury bucked the trend of retail negativity and reported a strong Christmas trading period. The company, which owns a 15.2-acre portfolio in the heart of the West End including Carnaby Street, said early data indicated retailers and food and beverage operators in its portfolio saw turnover and footfall growth in […]
In QuotedData’s other news 31 January 2020 Fidelity Asian Values confirms that with effect from 1 February 2020 its comparative index (performance benchmark) will be the MSCI AC Asia ex Japan Small Cap Index (net) total return (in Sterling terms) PRS REIT’s NAV has slipped a little, from 95.8p at the end of June 2019 […]
Syncona updates on Autolus – Autolus Therapeutics, a key holding for Syncona, has announced additional data regarding its ongoing Phase 1/2 clinical trial of its next-generation programmed T cell therapy, AUTO3, to treat adults with relapsed/refractory diffuse large B cell lymphoma (DLBCL). The data is to be presented in a keynote lecture titled “Improved CAR T […]
US Solar picks up 177MW across 22 projects – US Solar Fund is buying an approximately 177MW portfolio of twenty-two operating utility-scale solar power projects located in North Carolina, Oregon, and California. The vendor is Heelstone Renewable Energ, a leading developer of renewable energy projects in the United States, having developed over 60 projects with an aggregate […]
Phoenix Spree Deutschland, the UK listed investment company specialising in Berlin residential real estate, questions Berlin Senate’s competency regarding proposed rent controls in the city. The company said it had concerns over whether the Berlin Senate, which passed a draft bill for rents to be frozen for five years in November 2019 and is expected to […]
Aberforth overcomes market’s growth bias – Aberforth Smaller Companies beat its benchmark over the year ended 31 December 2019, returning 26.9% against 25.2% for the Numis Smaller Companies Index (excluding investment companies). A dramatic narrowing of the discount translated into a 39.8% return for shareholders. The underlying dividend is up 5.8% to 32p and there is […]
In QuotedData’s other news 30 January 2020 Duke Royalty has made a £7.7m follow-on investment in Bakhchysarai (Ireland) which is building a recruitment business in Ireland and the UK. It now has £9.4m invested in the business. Bakhchysarai is using the money to buy PE Global, a specialist recruitment agency that provides staffing and recruitment services primarily […]
Regional REIT beat its benchmark index in 2019 and increased property portfolio value by 9.7%. In a market update, the group said total shareholder return (with dividends reinvested) during the year was 32.5%, ahead of the FTSE EPRA NAREIT UK Index that was at 30.6%. The group paid dividends of 8.20p in the year, a […]
In QuotedData’s other news 29 January 2020 SQN Asset Finance Income’s board set a deadline of Friday 31st January for proposals for the future of the fund The share prices of Asian and Chinese funds appear to have stabilised this morning after sharp falls on worries about the coronavirus. JPMorgan Chinese is trading at 340p, down […]
JLEN NAV impacted by power price fall – JLEN’s NAV has dropped from 104.7p to 101.8p over the final three months of 2019. The reason is a fall in assumptions about long-term power prices – a topic we covered in another story this morning – “electricity price forecasts have reduced by c. 7.5% from the […]
Civitas NAV edges up despite inflation fall – Civitas Social Housing has announced its NAV at the end of December 2019 and it has edged up from 107.23p at the end of September to 107.55p at 31 December. This is despite an increase in the net initial yield used to value the portfolio from 5.28% […]
Renewable energy funds under attack from brokers – Shares in many renewable energy funds slumped yesterday as first Chris Brown of JPMorgan and then Matthew Hose of Jefferies said they were overvalued. Their analysis (which we can’t show you and you can’t get hold of unless you work for a large investment firm and pay […]
SEGRO’s chief investment officer has stepped down from the board and will leave the business in April 2020. Phil Redding, who has been at the group for 24 years and on the board since 2013, had been an instrumental part in SEGRO’s portfolio re-positioning exercise which saw the group sell, acquire or develop more than £8bn […]
JLEN gets diversified exposure to new build assets – JLEN has made a €25m commitment to Foresight Energy Infrastructure Partners SCSp (“FEIP”), a Luxembourg limited partnership investment vehicle. The majority of the partnership’s investments will be in construction-stage European renewable energy generation infrastructure such as wind farms and solar parks, and FEIP will also have an […]
GRIT Real Estate completes on Senegal hotel Club Med Cap Skirring Hotel GRIT will end up paying €16.2m for the Club Med Cap Skirring hotel in Senegal. A completion agreement was signed on 27 January 2020 with Club Med SAS and the fund took transfer of the shares in the controlling company and effective ownership […]
Invesco Income Growth faces continuation vote – The board of Invesco Income Growth Trust says it will put a continuation vote to shareholders in the trust at the time of the next AGM to be held in September 2020. While the directors believe that shareholders want the company to keep going, the persistently wide discount might suggest otherwise. […]
In QuotedData’s other news 27 January 2020, it is a quiet day UIL Limited is selling its investment in Optal Limited, its fourth largest holding (7.3% of the portfolio) and largest unlisted investment. Optal is a digital payment solutions company offering virtual account numbers, and credit and debit solutions for large scale payments in the travel, […]
The UK-focused renewables energy infrastructure fund, Bluefield Solar (BSIF), has made its first acquisition of 2020. On 20 January 2020, BSIF completed the acquisitions of three operational ground-mounted solar photovoltaic (PV) plants. Two of the plants, Gretton and Thornton are based in England, and the third, Wormit, is based in Scotland. The three plants provide 13.5 megawatt peak (MWp) of 1.3 Renewable Obligation Certificate (ROC) capacity. They were acquired for a cash consideration […]
In QuotedData’s other news 24 January – Following on from its anaerobic digestion problems, SQN Asset Finance Income (SQN) has announced that its board has taken the decision to conduct a strategic review of the company’s operations. This will be wide- ranging to include the provision of investment management services.. Warehouse REIT (WHR), the specialist […]
Over CC Japan Income & Growth’s (CCJI) annual results period to 31 October 2019, the company delivered a total NAV return of 9.9% in sterling total return terms while the sterling total return of the Tokyo Stock Exchange (Topix) was up by 7.2%. CCJI says it has recorded a 69.7% NAV total return since listing in […]
Merian Chrysalis (MERI) has published its annual results covering the period from its incorporation date on 3 September 2018 to 30 September 2019. Since dealing in MERI’s shares began on 4 November 2019, it has delivered a total NAV return of 14.6% and a share return of 24%. Extract from the manager’s report “The last 11 […]
Hipgnosis Songs (SONG) has announced it has acquired a music catalogue from 3 times Ivor Novello award winning British songwriter and producer, Brian Higgins. Brian Higgins has produced music for the likes of Cher and Kylie Minogue Over the last 25 years Brian Higgins has produced and co-written in excess of 35 top 10 hits including […]
In QuotedData’s other news 23 January 2020 – The private equity company, ICG Enterprise (ICGT), announced that non-executive director Jane Tufnell has been appointed chair-designate of the company. She will succeed Jeremy Tigue, who, as previously announced, will step down from the Board at the 2020 AGM. Jane joined the ICG Enterprise Board in April […]
Syncona (SYNC), a leading healthcare company focused on founding, building and funding global leaders in life science, has noted that its portfolio company, Autolus Therapeutics (Autolus) has announced the pricing of its underwritten public offering in the United States of 7,250,000 American Depositary Shares (ADSs) representing 7,250,000 ordinary shares for total gross proceeds of approximately $80m (£60.7 million[1]). SYNC says it has agreed […]
NewRiver REIT has continued its strategy of recycling capital into high yielding property with £162.9m transacted so far in FY20, it announced in a trading update. The update for the quarter ending 31 December 2019 revealed it had sold £70.3m worth of assets at a blended yield of 4.9% and acquired £92.6m worth of property […]
Town Centre Securities (TCS), the property investor, developer and car park operator, has updated the market on its performance in the half-year ended 31 December 2019 ahead of its half-year results. Overview TCS is continuing to reposition its portfolio away from retail, investing in its estate through asset management and delivering and improving its development […]
In QuotedData’s other news 22 January 2020 Yellow Cake, the uranium fund, is instituting a $2m buyback programme in an effort to narrow its discount. The programme lasts for three months, shares will be held in treasury. Syncona says that its portfolio company, Freeline will be disclosing further data from its Phase 1/2 B-AMAZE trial investigating […]
