News

In the circular published today in connection with Hipgnosis Songs Fund’s planned catalogue disposal, the board has introduced some surprise elements to the proposals: The board says that if the continuation vote is passed at the 2023 AGM, there will be another at an extraordinary general meeting in January 2026, again at the AGM to […]

Henderson Eurotrust has published results for the 12 months ended 31 July 2023. Over the period, it delivered an NAV return of 16.7% and a share price return of 19.7% – both ahead of the benchmark return of 16.1% and well-ahead of the peer group NAV return of 14.6%. The dividend was maintained at 3.8p. […]

HICL Infrastructure has agreed to dispose of a portfolio of five assets to John Laing. The portfolio is made up of HICL’s entire equity interest in four UK PPP projects; Queens (Romford) Hospital, Oxford John Radcliffe Hospital (“OJR”), Priority Schools North East Batch and South Ayrshire Schools, in addition to half of its investment in […]

Digital 9 Infrastructure says that its board has elected to not declare its Q2 2023 dividend. Higher interest rates and the inability to raise fresh equity have put pressure on its liquidity. At 30 June 2023, the Group had about £47m of unrestricted cash available and £18.8m remaining undrawn from its £375m revolving credit facility […]

Triple Point Energy Transition has announced the provision of a £2.3m receivables financing facility to Boxed Light Services Limited. Boxed installs efficient Light Emitting Diode (LED) lights and controls at Places for People Homes Limited sites. The facility provides receivables financing across 54 sites, with repayments including a fixed rate of interest being paid to […]

ThomasLloyd Energy Impact has selected Octopus Energy Generation as its transitional investment manager. Heads of terms have been agreed between the company’s AIFM, Adepa Asset Management S.A. and Octopus Renewables Limited for Octopus Energy Generation to be appointed. The board received proposals from, and conducted detailed discussions with, a number of experienced investment managers. Octopus Energy […]

In QuotedData’s morning briefing 28 September 2023: BlackRock Greater Europe (BRGE) says that Alexandra Dangoor is being made co-portfolio manager, alongside lead manager Stefan Gries. The effective date for this appointment will be from close of business on 29 September 2023. Alexandra joined the BlackRock Fundamental European Equity Team in 2019 after two years in […]

Strategic Equity Capital (SEC) released its annual results today, for the period ending 30 June 2023. Over the 12 months SEC reported a NAV total return of 9.2%, and a share price total return of 11.2%. This compares to the (0.4%) loss of its comparative index, the FTSE Small Cap (ex Investment Trusts). SEC’s management […]

JPMorgan Emerging Markets Investment Trust (JMG) reported its annual results for the year ending June 2023. JMG reported a NAV total return of 0.8%, ahead of its benchmark, the MSCI Emerging Markets Index, which reported a loss of (2.8%) over the same period. Stock selection was the largest contributor to JMG’s returns, adding 4.0%, with […]

JPMorgan Global Growth and Income (JGGI) has released the annual results for its financial year ending 30 June 2023. JGGI generated a NAV total return of 19.1% and share price total return of 22.2%, easily outperforming its benchmark, the MSCI ACWI, which generated a 11.3% return for the same period. JGGI’s outperformance was broad based, […]

In QuotedData’s morning briefing 27 September 2023: Cordiant Digital Infrastructure (CORD) has announced that it has received regulatory approval for its acquisition of Speed Fibre Group and expects the transaction to close later this year. Taylor Maritime Investments (TMI) has announced that it has refinanced its debt facility, and has made a loan repayment of […]

Phoenix Spree Deutschland (PSDL), which owns a large portfolio of rental properties in Berlin, has accelerated plans for future condominium sales, reflecting the wide discrepancy between values it has been achieving and its share price. Over the past 12 months, the company has achieved sales prices, on average, of €5,545 per square metre, while the […]

Asian private equity fund Symphony International becomes the latest fund to adopt an orderly realisation strategy. Symphony says that, further to a strategic review by its board of directors, it has adopted an updated strategy, being an orderly realisation of its investments with a view to maximising return on investment for Symphony’s shareholders. Symphony has […]

Taylor Maritime Investments has sold its commercial and technical managers to its subsidiaries Grindrod Shipping Holdings and Grindrod Shipping Pte. Ltd. The subsidiaries have agreed to acquire each of Taylor Maritime Management Limited (TMML) from Taylor Maritime Group Limited and Tamar Ship Management Limited (Tamar) from Taylor Maritime Group Limited and Temeraire Holding (MI) Limited. […]

Tufton Oceanic Assets has published results covering the 12 months ended 30 June 2023. The NAV fell to $1.365 from $1.450, negatively impacted by the fall in capital values of bulkers and of Riposte, the containership which was sold during the financial year. The operating profit was $56.3m, up from $40.3m, however. From Q4 2022, […]

In QuotedData’s morning briefing 26 September 2023: ICG Longbow (LBOW) says it has appointed a receiver over the property securing its Affinity loan. This gives it more control over the sale of this property. Rent is still being collected, covering the interest owed to the fund. Elsewhere in the portfolio, the sale of a hotel […]

UIL Limited (ULT) announced its annual results for the year ending 30 June 2023: ULT reported a negative NAV total return of (20.6%) for the twelve months, and share price total return of (18.5%). ULT’s discount was 27.5% as of end June 2023, compared to 28.1% the year prior. ULT performance can be in part […]

Gulf Investment Fund (GIF) has released its annual results for the period ending 30 June 2023. Over the 12 month period GIF has generated substantial outperformance relative to its benchmark, the S&P GCC Composite Index. GIF generated a NAV total return of 20.4% and share price return of 18.8%, compared the the negative (1.3%) return […]

In QuotedData’s morning briefing 25 September 2023: Round Hill Music (RHM) has announced the publication of a scheme document which outlines the actions required, timetable, and recommendations in respect of the purchase offer made for the trust. Shareholders will be given the opportunity to vote on the offer at a General Meeting to be held […]

A milestone was passed very recently without much fanfare. 15 September 2023 marked the 15th anniversary of the collapse of Lehman Brothers, a vanquished titan of American finance, an event which precipitated the 2008 global financial crisis, the most significant downturn since the great depression of the 1930s. While the societal consequence of the crisis […]

European Opportunities Trust (EOT) has released its annual report for the financial year ending 31 May 2023. Over the 12 month period EOT reported a NAV total return of 3.3% and share price total return of 5.0%, this represents an underperformance versus its benchmark, the MSCI Europe Index, which returned 6.9%. This underperformance can be […]

Home REIT has reassigned the leases at 146 properties that had formerly been occupied by Redemption Project CIC, which went bust earlier this month. Home REIT will now hope to receive rent on the portfolio of properties (which equates to 6% of its portfolio by number) having not been paid by Redemption for the whole […]

In QuotedData’s morning briefing 21 September 2023: JPMorgan Global Core Real Assets (JARA) has provided a quarterly NAV valuation. As of 31 August 2023 the NAV per share of the trust was 95.37p per share, reflecting a negative total return of (2.0%) for the quarter and (8.0%) for the 12 month period. Gulf Investment Fund […]

City of London Investment Trust (CTY) announced its annual results for the period ended 30 June 2023. The company’s NAV total return for the period was 4.5%, which compares with a total return of 7.9% for the FTSE All-Share Index. Shares were flat for the year while dividends increased by 2.5%. The adviser noted that […]

Murray Income Trust (MUT) announced its annual results for the year ended June 30 2023 which also marked the 100th anniversary for the fund. NAV per share total return was +8.8%, ahead of the FTSE All-Share Index at +7.9% but the share price total return was +4.9% as the discount widened to 8.4% at the […]

Supermarket Income REIT (SUPR) announced its annual results for the year ended June 30 2023. The company saw resilient financial performance with strong income growth despite a 19% fall in EPRA net tangible assets (NTA) in the year to 30 June 2023. With dividends, this equates to a 16%  fall in NAV for the year and […]

KCR Residential REIT (KCR) announced its final results for the year ended 30 June 2023. NAV per share fell 1% over the course of the year. Revenue for the financial year increased by 23.01% (to £1.58 million up from £1.28 million in 2022) – largely underpinned by the ongoing performance of Coleherne Road and the […]