AVI Global held back as underlying discount widens – For the year ended 30 September 2019, AVI Global delivered an NAV return of 2.1%, lagging its benchmark, the MSCI All Country World ex US Index, which returned 4.5%. A widening of the discount from 8.5% to 10.9% left shareholders with a return of -0.4%. The dividend […]

Symphony invests in Smarten Spaces – Symphony International Holdings is making an investment in Smarten Spaces Pte. Limited, a Singapore based SaaS (Software-as-a-Service) company that provides software solutions for space management in commercial and industrial properties. The price hasn’t been disclosed but Symphony will get a minority position in Smarten Services and this will represent less than […]

Hg Capital NAV surpasses £1bn over third quarter – Hg Capital (HGT) has provided an update covering the third quarter period to 30 September 2019. Over the year to date, the company’s total return shares and NAV have returned 32% and 18%, respectively. HGT’s NAV went past £1bn over the period. Q3 investments and realisations On […]

Scottish Mortgage discusses competitive pressures faced by big Chinese internet companies – Over Scottish Mortgage’s (SMT) half-year period to 30 September 2019, the trust’s total return NAV increased by 3.2%, less than the 9.9% return generated by the FTSE All-World Index. This represented a rare period of underperformance by SMT. The longer term performance record remains […]

Capital Gearing Trust delivers 5.4% return over half-year period – Capital Gearing Trust (CGT) has reported half-year results to 5 October 2019 with total return NAV per  share increasing by 5.4% over the period and 7.2% over twelve months. Performance in the half-year benefited from a 6% weakening of sterling relative to the dollar. Some 46% […]

Brazil leads in strong year for Aberdeen Latin American Income – Over Aberdeen Latin American Income’s (ALAI) annual results period to 31 August 2019, its shares were up +19.9% on a total return basis, while the NAV increased by 22.4% (beating the composite benchmark’s 17.4% return). Brazil the stock market’s engine Commenting on the main regional themes […]

Picton completes Croydon office sale for £18.2m – Picton Property Income (PCTN) has completed the disposal of an office building in Croydon for £18.2m. Citylink, located on Addiscombe Road in Croydon, is a 48,000 sq ft detached office building constructed in 1986 and let to RBS and Fairfield School of Business.  The building was sold […]

HICL Infrastructure to sell two PPP projects for £52m – HICL Infrastructure PLC, the parent company of HICL Infrastructure (HIC), has announced that the group has struck a deal to sell its entire equity and debt interests in two UK PPP projects: the Health & Safety Laboratory in Buxton; and the South West Acute Hospital in […]

Big vote against AEW Long Lease chairman – at the Annual General Meeting of AEW Long Lease REIT, held on 5 November, most of the resolutions put to shareholders were approved overwhelmingly [as tends to be the case with most AGMs]. However, resolution number 3, which asked shareholders to approve the re-election of Steve Smith, […]

Warehouse REIT expanding apace – The UK specialist warehouse investor, Warehouse REIT (WHR), has announced interim results covering the six-month period to 30 September 2019. Results breakdown (notes around these figures can be found in the official release): Six months to 30 September 2019 30 September 2018 Revenue £13.6m £10.7m Operating profit before gains on […]

Woodford Patient Capital slashes Industrial Heat value – The board of Woodford Patient Capital has been notified by Link Fund Solutions, that it intends to amend the valuations of two of the company’s holdings. The first is a downward revaluation to IH Holdings International Limited (Industrial Heat) reflecting a delay in operational progress, in respect of […]

We woke this morning to annual results from Asia Dragon Trust – which was a bit confusing as it is not a fund we have ever heard of – turns out that Edinburgh Dragon’s board decided to change the name of the trust with immediate effect – the ticker becomes DGN. Given that this is […]

Yew Grove buys Athlone office – Yew Grove REIT has reached agreement to purchase an office building at the IDA Ireland Business and Technology Park, Garrycastle, Athlone (situated in Ireland’s Midlands region). The purchase price for the building will be EUR12 million, which represents a net initial yield of 7.2 per cent. after accounting for […]

Empiric Student Property anticipating 10% increase in student revenues – Empiric Student Property (ESP) has provided a trading update: ESP say that student revenue is expected to be approximately 10% up in full year 2019 compared to full year 2018, driven by an increase in the number of beds, increased occupancy and an increase in revenue […]

Henderson International Income struggles in chaotic year – over the year to the end of August 2019, Henderson International Income generated a zero return on NAV and a -1.4% return to shareholders. this compares to an 8.0% return for the MSCI World Index ex UK in sterling, the company’s performance benchmark. As the chairman explains […]

Revamp pays off for Aberdeen Standard Asia Focus  – Over the year ended 31 July 2017, the NAV of Aberdeen Standard Asia Focus (formerly Aberdeen Asian Smaller Companies) rose by 7.1%. In comparison, the MSCI All Countries Asia Pacific ex-Japan Small Cap Index lost 0.5% and the more large cap MSCI AC Asia Pacific ex […]

JPMorgan Global Core Real Assets gets £35.5m capital call – The recently launched JPMorgan Global Core Real Assets (JARA) has announced that one of its underlying real estate strategies has called the capital committed by the company with a funding date no later than Friday 8th November 2019.  The company says that the capital called […]

Triple Point Social Housing credit facility extended to £130m – The social housing REIT, Triple Point Social Housing (SOHO), has announced it has secured a £60m extension to its existing £70m revolving credit facility (RCF) arrangement with Lloyds Bank (Lloyds). NatWest will provide additional debt financing (on identical terms) alongside Lloyds, taking the RCF to […]

Unquoteds outperform for International Biotechnology Trust – International Biotechnology Trust (IBT) has reported annual results to 31 August 2019. The majority of IBT’s portfolio holdings are based in the US. Headline results: Share price (2.1%) NAV (6.8%) NASDAQ Biotechnology Index (NBI) (9.8%) FTSE All-Share Index: +0.4% Quoted portfolio outperformed benchmark over challenging period IBT’s quoted […]