Octopus Renewables raises whopping £350m – Octopus Renewables Infrastructure Trust – a new renewable energy fund targeting onshore wind and solar assets in the UK, Europe and Australia, has smashed through its £250m fundraising target in its IPO and raised a whopping £350m. As such it looks likely to take the crown for the largest […]
Ediston Property Investment Company, the real estate investment trust, has reported a fall in net asset value (NAV) of 5.7% in full year results. The drop was largely due to a 3.5% fall in the value of its property portfolio, which now stands at £319.2m, and its exposure to the retail sector. All of its […]
In QuotedData’s other news 6 December 2019 Sanditon’s liquidation vote passed yesterday Baring Emerging Europe beat its benchmark for the year ended 30 September 2019, returning 17.8% against 15.9% for the index. The dividend was increased by a penny to 35p. Returns were driven by a strong stockmarket in Russia. Duke Royalty has awarded three […]
Value and Income planning for its future – Value and Income has arranged a seven year secured term loan of £22m. £20.9m of this will be charged interest at a fixed rate of 3.1% a year (this works out at 3.3% a year after all the expenses connected with securing the loan are included in the […]
Unloved markets hold back BlackRock Frontiers – BlackRock Frontier Markets underperformed its benchmark over the year ended 30 September 2019, returning, in US dollars, -1.5% in NAV terms and -6.3% in share price terms against a 0.0% return for the benchmark and a 5.9% return for the MSCI Frontier Markets Index. The dividend is 7.75 cents […]
In QuotedData’s other news 5 December 2019 – CATCo Reinsurance Opportunities (CAT) announced the appointment of Arthur Jones as a non-executive director with effect from the conclusion of a board meeting of the company held on 4 December 2019. Arthur will also chair the company’s audit committee. CAT notes that Arthur is a chartered accountant […]
Impact Healthcare REIT – Impact Healthcare REIT (IHR), which has a particular focus on care homes, has raised raised £35m in a share placing. The company’s manager is working on a number of transactions which, if completed, it says would lead to the acquisition of up to a further 20 homes, enabling the full deployment of the […]
Healthcare and IT-focused Edinburgh Worldwide beats benchmark – Global smaller companies-focused Edinburgh Worldwide (EWI)’s results period to 31 October 2019 saw NAV total returns come in at +7.4% (the shares returned +6.7%), ahead of the S&P global small cap index benchmark’s +7.2% total return. A number of the company’s holdings contributed to the positive performance, notably: Novocure, a […]
Primary Health Properties (PHP), one of the UK’s leading investors in healthcare facilities, will provide development funding for the construction of a purpose built medical centre in Eastbourne, East Sussex for a total cost of £8.4m. The facility, which will be wholly owned by PHP upon its completion, will be used by two merged GP practices […]
In QuotedData’s other news 4 December 2019 Augmentum Fintech’s NAV made progress over the six months ending 30 September 2019, rising by 2.4%. This would have been higher but their holding in Zopa took a hit as it raised money to fund an application for a full banking licence. We also have news of higher […]
Seneca Global still expanding – in the six month period ending 30 September 2019, Seneca Global Income and Growth managed to issue a net 1.8m shares, despite posting underperformance of its benchmark over this period. The trust’s interim results show a -1.6% return on NAV and a -0.8% return to shareholders for the six-month period. […]
Higher income from JPMorgan Chinese – JPMorgan Chinese’s board is proposing a new dividend policy to pay enhanced dividends through the distribution of capital gains as well as net revenue. Under this new policy, the board aims to set a target dividend, in the absence of unforeseen circumstances, equivalent to 4% of NAV on the […]
In QuotedData’s other news 3 December 2019 – BlackRock Smaller Companies (BRSC) has agreed to issue £20m in senior unsecured GBP denominated fixed rate private placement notes at an annualised coupon of 2.41% with a 25-year bullet maturity. The funding date for the Notes is today, 3rd December 2019 and the notes will be due for […]
Starwood European Real Estate Finance makes Spain office investment – Starwood European Real Estate Finance (SWEF) has announced that on 29th November 2019, the group closed an investment in a 5-year floating rate loan secured by a portfolio of office assets Spain, with Starwood Property Trust, Inc (through a wholly owned subsidiary) participating in 50 per cent of the mezzanine loan amount, providing the group with a net commitment of €24m. The […]
Hipgnosis Songs signs up Fraser T. Smith – Hipgnosis Songs (SONG) has acquired a music catalogue from British songwriter and producer, Fraser T. Smith who has co-written, mixed and produced seven UK number 1 and two US number 1 singles, as well as contributing to 17 number 1 albums. SONG has acquired 100% of Fraser T. Smith’s worldwide […]
In QuotedData’s other news 2 December 2019 – JPMorgan Claverhouse (JCH) has announced that following a review, its management fee arrangements with JPMorgan Funds Limited will change. With effect from 1st January, 2020 the annual management fee, currently 0.60% p/a on net assets up to £500m and 0.50% on net assets over £50m , will be […]
BMO Capital & Income beats its benchmark once again – The UK equity income trust, BMO Capital & Income (BCI), has reported annual results to 30 September 2019, with total return NAV of 5.3% marking another year of outperformance against its FTSE All-Share Index benchmark, which returned 2.7%. BCI notes that under manager, Julian Cane, BCI has beaten […]
Civitas Social Housing reports half-year results as portfolio grows to nearly 600 properties – Civitas Social Housing, the supported living and social housing REIT, has released half-year results to 30 September 2019. CSH’s chairman, Michael Wrobel, commented: “The company is pleased to report a strong set of results with our key performance objectives met. We continue to […]
LMS Capital votes to remove Gresham House – at the meeting called to decide who should be running LMS Capital, the votes were 41.6% in favour of keeping Gresham House as manager and 58.4% in favour of internalising the management of the company. The independent directors (who wanted to keep Gresham) have resigned. The vote […]
In QuotedData’s other news 29 November 2019 PME Africa has increased its loan from Optas Gmbh from €400,000 to €600,000 while it tries to free up cash at its account in Tanzania. EIH says it has consulted its shareholders and a vast majority are in favour of de-listing its shares in the interests of saving money. […]
Qannas will leave AIM to get its deal done – On 3 September 2019, Qannas announced that it was planing to enter into a an agreement to buy a substantial portfolio of assets. It had trading in its shares suspended from AIM while it finalised this. Today, it says that getting the deal done in […]
Urban & Civic saw its EPRA net asset value (NAV) jump 9.6% in full year results after successfully progressing residential sites through the planning system. EPRA NAV rose from £481.2m a year ago to £527.5m with the revaluation of its Waterbeach site, where the company gained outline consent for 6,500 homes earlier this year, contributing £24.6m […]
St Modwen has sold a chunk of its non-core retail portfolio for a total of £34m, as it continues to shift its focus to the industrial sector. The sales, in Doncaster, Crosby and Kirkby, were sold at a discount of 9% compared to the May 2019 book value of the three assets. The disposals follow […]
In QuotedData’s other news 28 November 2019 Tritax EuroBox is to spend €30m extending its Barcelona warehouse by 88,000 sqm. Building starts in 2021 for completion in 2023. The warehouse is let entirely to Mango (the fashion retailer) and was already by far the largest asset in EBOX’s portfolio. This is a big bet on one […]
European Trust results show why it moved manager – European Trust, which recently appointed Baillie Gifford as its manager, has just published results covering the year ended 30 September 2019. They make for grim reading – over the period the trust returned -4.6% in NAV terms and -7.6% in share price terms. This compares to […]
JZ Capital focused on debt reduction – JZ Capital Partners has now published its interim results, covering the six months ended 31 August 2019. The results had been delayed while the board secured a new valuation of its property portfolio. The company warned that it might have to take $50m-$150m off the valuation of its […]
In QuotedData’s other news 27 November 2019 Leaf Clean Energy (LEAF) is to hold an extraordinary general meeting on December 17 2019 as its board has concluded that it is no longer necessary for the shares to be admitted to trading on AIM and is therefore proposing the cancellation. Following the recent return of £21.5m to […]
Highlights from Sequoia Economic Infrastructure’s interim results – Sequoia Economic Infrastructure’s (SEQI) focus is in economic infrastructure, which includes transportation, utility, power, telecommunication, renewable and other related sectors that exhibit infrastructure characteristics and typically have demand exposure. Sequoia believes that lending into these sectors is more attractive than lending into availability-based PFI/PPP projects, which are often hotly […]
LondonMetric has reported a 16.6% uplift in net rental income to £54.9m in half year results following the acquisition of A&J Mucklow in the period. The company, which saw net asset value (NAV) remain flat at 174.9p per share, said the acquisition has significantly increased its portfolio weighting to the urban logistics sub-sector that has […]
Merian Chrysalis nearly 70% invested after follow-on investments – Growth capital company Merian Chrysalis (MERI) has announced a follow-on investment of £12.2m in Embark Group (Embark), to accelerate execution of Embark’s growth plans, including the acquisition of the Zurich platform (Zurich). The transaction includes an £8m equity investment and £4.2m convertible loan note (CLA). MERI says that subject […]
