Stock selection drives Aberdeen New India interim period outperformance – Over Aberdeen New India’s (ANII) interim period to 30 September 2019, the company’s NAV rose by 6.1%, ahead of the benchmark MSCI India Index’s return of 0.8%. Performance was driven primarily by stock selection amid persistent financial sector woes. FIscal stimulus improving sentiment ANII noted: […]
Ireland-focused Greencoat Renewables adds 14.0MW wind farm – Greencoat Renewables (GRP), the Irish renewable infrastructure company, has acquired Beam Hill Wind Farm, a 14.0MW wind farm situated in County Donegal for a consideration of €10.5m. This brings Greencoat Renewables’ portfolio of operational wind assets to 461MW. The wind farm consists of 8 Vestas V66 turbines that […]
Commentary from Fidelity China Special Situations interim results – Fidelity China Special Situations (FCSS) has reported half-year results to 30 September 2019, with total return NAV and the share price performance of (5.9%) and (6.0%). What follows are exerts from manager, Dale Nicholls, report to investors. Li Ning shines while Tencent continues to drag on performance […]
In QuotedData’s other news 26 November 2019 – Schroder Real Estate (SREI) reported half-year results to 30 September 2019, with its real estate portfolio posting a total return of +2.5% over the period versus +1.0% by the MSCI/IPD Benchmark Index. There were £45 million of disposals during and post the period end. The company added that […]
Gresham House Strategic’s discount narrows over interim period – The UK smaller companies-focused, private equity style fund, Gresham House Strategic (GHS), published interim results covering the six months to 30 September 2019, this morning. NAV total return of +0.3% vs +0.2% by the FTSE small cap index (total return basis). GHS say the NAV was […]
Polar Capital Global Financials to explore continuing vehicle as fixed-life end date nears – Polar Capital Global Financials (PCFT) announced that in light of the backstop date of 31 May 2020 by which PCFT is due to be placed into liquidation in accordance with its articles of association, the company’s board is in the process of considering […]
Portfolio update from NB Distressed Debt – NB Distressed Debt (NBDD) has provided a portfolio update this morning; the company’s portfolio is invested across distressed, stressed and special situations investments, with a focus on senior debt backed by hard assets.On 13 June 2013, assets attributable to the company’s ordinary shares were placed into a harvest period. Since then, […]
In QuotedData’s other news 25 November 2019 – Templeton Emerging Markets (TEM) reported half-year results to 30 September 2019 with NAV and the shares increasing by +6.3% +4.4% in total return terms, respectively. This compared with +2.2% from the MSCI Emerging Markets Index. Chairman, Paul Manduca, noted: “Given the current political background, equity markets are likely […]
Intu Properties continues disposals programme – Intu Properties (INTU) has sold Sprucefield Retail Park to NewRiver REIT for £40m, in line with its June 2019 valuation. Sprucefield Retail Park is located in Lisburn, Northern Ireland and comprises of 231,000 sq ft of retail space in five units, anchored by Sainsburys and B&Q. Intu has a portfolio of […]
Civitas Social Housing appoints Alison Hadden to its board – The board of Civitas Social Housing (CSH) has announced the appointment of Alison Hadden as an independent non-executive director of the company. CSH note that Alison brings a depth of experience within social housing and local government, having started her career at Dudley Metropolitan Borough […]
In QuotedData’s other news 22 November 2019 – BMO Private Equity (BPET) announced results for the third quarter period to 30 September 2019. The company delivered an NAV total return of 1.7 per cent (share price total return was 3.4%) while outstanding undrawn commitments were £124.1m with around £17.5m of these to funds where the investment […]
HICL Infrastructure targets £100m in new raise – HICL Infrastructure PLC, the parent company of HICL Infrastructure (HICL), has announced a proposal to raise additional equity capital through the issue of new ordinary shares, with a target size of £100m. The net proceeds of the Issue will be applied in addressing the company’s net funding […]
JLEN Environmental scope for further diversification – at 30 September 2019, JLEN Environmental’s NAV stood at 104.7p per share, unchanged from the value at the end of March. Within the portfolio, things seem to be on the right track but positive developments were offset by lower energy price forecasts. The dividend target has been met, […]
Greencoat Renewables targets EUR100m with launch of initial placing – Greencoat Renewables (GRP), the Ireland-focused renewable infrastructure company, is looking to raise approximately EUR100m through an initial placing to provide the company with greater financial capacity to continue to take advantage of an active secondary market for wind assets in Ireland and to pursue identified opportunities […]
In QuotedData’s other news 21 November 2019 – Marble Point Loan Financing (MPLF) closed a credit agreement with City National Bank establishing a revolving credit facility of up to US$12.5m on 20 November 2019. The facility will provide the company with flexible capital for acquiring investments in accordance with its investment objective and strategy and for […]
Montanaro European Smaller Companies delivers strong interim results – Montanaro European Smaller Companies has reported results covering the six months ended 30 September 2019. Over the period, the NAV rose by 8.2% to 1,094.1p per share, outperforming its benchmark MSCI Europe SmallCap ex UK index in the process, which rose by 4.7%. MTE’s discount narrowed from 12% to […]
Residential Secure Income reports annuals, 18% NAV total return since admission – Residential Secure Income (RESI), which invests in affordable shared ownership, retirement and local authority housing, has announced its annual results for the 12 months to 30 September 2019. Financial highlights IFRS NAV total return of 8.0p per share for the period; 3.9%, or £8.7m, uplift […]
Perpetual disappointment calls for new initiatives – The interim statement covering the six months ended 30 September 2019 for Perpetual Income & Growth marks another period of poor performance for the trust. Over the period, it returned -1.2% in NAV terms and -1.0% in share price terms, against +4.6% for the All-Share Index. One bit […]
In QuotedData’s other news 20 November 2019 Hansteen has bought seven multi-let industrial estates on the Newton Aycliffe industrial park in County Durham for £12m. The portfolio comprises 53 units totalling 341,620 sq ft, with individual units ranging in size from 820 sq ft to 32,648 sq ft. The contracted rental income is GBP1,094,000 a year (GBP3.55 […]
Partial collapse at Hadrian’s Wall – on 2 October 2019, Hadrian’s Wall Secured Investments acknowledged that it was experiencing problems with its loans to Biomass Premium Fuels Limited and Biomass Optimum Fuels Limited. Biomass Premium Fuels has been trying to agree a joint venture or partnership with another party. Unfortunately, after exploring a number of […]
Grit Real Estate investing more in Botswana – Grit Real Estate Income is buying an additional 22.75% stake in Botswanan real estate company, Letlole La Rona Limited for US$ 13.8m (to be settled by issuing new ordinary shares in Grit). The vendor is Botswana Development Corporation Limited, a development finance institution founded in 1970, with the […]
Palace Capital, which owns a diverse portfolio of property in the UK regions, has reported a drop in net asset value (NAV) per share of 3.9% during the six months to the end of September. NAV per share fell to 391p during the period, compared to 407p at the end of March, while profit after […]
Good returns help Henderson Far East grow – over the year ended 31 August 2019, Henderson Far East Income returned 6.5% in NAV terms and 7.6% in share price terms, both well-ahead of comparative indices and the AIC’s Asia Pacific Income peer group average. The dividend was upped by 3.7% to 22.4p,an amount that was […]
Hammerson sells Gloucester retail park – Hammerson has exchanged contracts on the sale of St Oswald’s Retail Park, Gloucester, to a local authority for GBP54m. The sale price reflects a net initial yield of 8.5%, and is 8% below the 30 June 2019 book value. The 20,900 square metre scheme, which is located to the north […]
Standard Life Property Income sells Denby logistics unit – Standard Life Investments Property Income Trust has sold its second largest investment, a logistics unit close to Derby, for GBP19.1m. The property was let until 2025 and the rental income represented 4.4% of the company’s income. The sale price was at the September valuation, and reflected a […]
In QuotedData’s other news 19 November 2019 Amedeo Air Four says that Emirates will take two of its A380s out of service for a while to allow it to install new premium economy cabins. This won’t affect Amedeo Air Four’s income but it thinks it might help when it comes to selling the planes at the […]
In QuotedData’s other news 18 November 2019 – Real Estate Credit Investments (RECI) announced it had received a full repayment of a loan for a mixed-use development in Old Street, London. RECI participated pari passu alongside its manager’s other real estate funds, in a £87.5m mezzanine loan, at 47%-73% loan-to-cost (LTC) and 38-57% loan-to-gross-development-value (LTGDV) ranking behind […]
Capital & Counties has exchanged contracts for the sale of its interests in Earls Court, excluding Lillie Square, to APG and Delancey for £425m. The price is significantly short of the balance sheet value at 30 June 2019 of £508m. Payments will be made to Capital & Counties on a phased basis, with 45% payable […]
McKay Securities, the London and South East focused REIT, has reported a 20.8% jump in gross rental income to £12.61m in half-year results. The company said the increase was due to several lettings secured on development projects. It contributed to a rise in EPRA net asset value (NAV) in the six months to the end […]
Real Estate Investors adds Leamington Spa unit – Real Estate Investors (RLE), the midlands-focused REIT with a portfolio of 1.53m sq. ft. of commercial property in the Midlands property market across all sectors, has announced the acquisition of a fully-let, prime, mixed-use block on The Parade, Royal Leamington Spa, for £7.45m, delivering a net initial […]
