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, […]
In QuotedData’s other news 6 November 2019 Symphony International reports a 10% drop in its quarterly NAV – from $1.0915 to $0.9921 – it says falls in the value of Minor International and writedowns in its unlisted portfolio are to blame RM Secured Lending has extended the deadline for its placing to 12 November in the […]
In QuotedData’s other news 5 November – Gulf Investment Fund (GIF) has renewed its investment management agreement with its investment manager, Epicure Managers Qatar Limited, a wholly owned subsidiary of Qatar Insurance Company S.A.Q., for a three-year period effective from 1 November 2019. We also have interim results from Warehouse REIT
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 […]
In QuotedData’s other news 4 November EPE Special Opportunities has appointed a new administrator (Not gone into administration as we first read the headline!!). Langham Hall Fund Management (Jersey) Limited replaces R&H Fund Services (Jersey) Limited. Globaworth is paying €185m for two Polish offices – Chmielna 89 is a 14-storey office development, situated directly adjacent to […]
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 […]
In QuotedData’s other news 1 November 2019 RM Secured Direct Lending has renewed and amended its revolving credit facility with OakNorth. Under the terms of the amended facility, the company may draw down loans up to an aggregate value of GBP 10.5 million, on materially similar terms as the previous facility. The new facility will expire […]
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 […]
Broker merry-go-round turns on – The advent of MiFID II and the decline in new issues in 2019 may have been affecting revenues at some investment company broker teams. In the past few months we have seen some changes to the industry line-up. The latest story is that a team from Stifel are said to […]
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 […]
In QuotedData’s other news 30 October 2019 Schroder European Real Estate has added €0.8m to its rent roll with three lettings at its St Cloud office complex and has drawn down another €4m on its loan to fund capital expenditure within its portfolio. Riverstone Energy reported a $275.8m unrealised loss for the third quarter of 2019. […]
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 […]
In QuotedData’s other news 29 October – Bill Ackman-managed Pershing Square Holdings (PSH) has announced an additional share buyback program worth $100m of PSH’s outstanding shares on the London Stock Exchange and Euronext Amsterdam. PSH says the program will begin following the completion of the previously announced $100m buyback program. They add that the program […]
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 […]
In QuotedData’s other news 28 October – Leaf Clean Energy (LEAF) announced that in accordance with the special resolution passed by the required majority at the extraordinary general meeting held on 1 July 2014, it will be returing approximately £21.5m to shareholders. Leaf has frequently been in the news this year, involving its case with Invenergy […]
Volta Finance not expecting significant increase in default rates – The debt sector structured finance company, Volta Finance (VTA), has reported annual results to July 31 2019. VTA, which aims to preserve capital across the credit cycle, recorded a 2.5% increase in total return NAV, while the shares increased 7.9%, over the year. Managers report […]
Grit Real Estate Income Group, the London listed company that focuses on African real estate, has announced the acquisition of seven properties located across the continent. The company has agreed deals, which are conditional, for a total consideration of US$103.5m. The properties comprise: two corporate offices in Ghana let to PwC and Huawei; two healthcare […]
VinaCapital Vietnam Opportunity Fund (VOF) has announced its annual results for the year ended 30 June 2019. The Chairman, Steven Bates, says that over the course of VOF’s financial year, the stock market in Vietnam had something of a roller coaster ride, rising at first and then falling in line with global markets in the […]
Hadrian’s Wall Secured Investments Limited (HWSL) has announced its annual results for the year ended 30 June 2019. During the year, HWSL provided NAV and share price total returns of 2.3% and -4.4% respectively. The total dividend for the year has been maintained at 6p, while earnings for the year were 2.2p, down from 4.6p […]
Net asset value (NAV) at RDI REIT fell 13% in the year to the end of August after after the company wrote off a portfolio of four shopping centres that had breached their debt covenant. The company breached the Aviva covenant earlier this year on a portfolio of four centres – Grand Arcade in Wigan; […]
In QuotedData’s other news 24 October 2019 Gabelli Merger Plus reported a return of 3.7% on NAV but, after discount widening, a return to shareholders of -6.5% for the year ended 30 June 2019. The best index comparisons are probably the S&P Merger Arbitrage Index which returned 8.33%, and the CS Merger Arbitrage Liquid Index, up […]
Schroder gets Woodford Patient Capital – The board of Woodford Patient Capital Trust plc has agreed heads of terms to appoint Schroder Investment Management Limited as the company’s portfolio manager. Shortly following the appointment, which is expected by the end of 2019, the company will be renamed Schroder UK Public Private Trust plc. Schroder intends to […]
Troy to absorb Cameron – Troy Income & Growth Trust has reached agreement, in principle, on the terms of a merger with Cameron Investors Trust. This would be effected by way of a scheme of reconstruction of Cameron under section 110 of the Insolvency Act 1986, which will result in the voluntary liquidation of Cameron and […]
Merian Chrysalis tops up holdings – Having raised £175m in September 2019, Merian Chrysalis has made a number of investments. All three are additions to existing holdings – in line with its statement at the time of the fund raise that it would use half the proceeds for this purpose. Starling Bank Merian Chrysalis has announced […]
BlackRock Greater European outperforms – Over the year to 31 August 2019, its NAV increased by 6.3%, outperforming the World Europe ex UK Index which rose by 4.8%. The share price increase was even better, rising by 7.9% over the same period. The dividend was increased slightly from 5.75p to 5.85p. Some of that is being […]
