VH Global Energy Infrastructure has issued a statement on the impact of tariffs on its Brownsville fuel terminals in Texas. The Brownsville plant imports oil slurry from Mexico and refines that into a useful product. I wrote this up this morning, but the company said that I misunderstood the announcement, so I’m happy to put […]
JPMorgan Emerging Europe Middle East and Africa has published results covering the 12 months ended 31 October 2024. Pleasingly, the trust beat its benchmark (S&P Emerging Europe, Middle East & Africa) by 1.7 percentage points, returning 13.6% on NAV to the index’s 11.9%. However, the share price continued its usual volatile and unpredictable path and […]
In QuotedData’s morning briefing 4 February 2025: M&G Credit Income (MGCI) is convening a meeting on 27 February to approve the issue of up to 31,002,226 shares (20% of its issued share capital). The company has already issued 9.6m shares since its AGM in 2024 and was running out of room to issue more. [It […]
Keystone Positive Change says that at its general meeting, over 60% of the votes cast were against Saba’s requisitioned resolutions. Excluding the votes Saba cast in favour of its own requisitioned resolutions (representing 1,650,762 votes and approximately 38.87% of the votes cast), only a further 33,845 votes, representing just 0.80% of the votes cast, were […]
Shareholders at Baillie Gifford US Growth have voted to reject Saba’s proposals for the trust by 65.6% to 34.4%. Excluding the shares voted by Saba, approximately 98.5% of the votes cast were against the requisitioned resolutions. The turnout (the percentage of eligible shares that were voted) was 78.4%, not that far shy of that at […]
Polar Capital Technology Trust (PCT) has entered the FTSE 100 Index for the first time today, nearly 25 years after its launch in 1996. In achieving this milestone, PCT becomes one of a select group of six investment companies (a record in itself) that are constituents of the UK’s premier index: 3i Group, Scottish Mortgage, […]
The board of Henderson European Trust says that it has been notified that the company’s two co-portfolio managers, Tom O’Hara and Jamie Ross, have resigned from Janus Henderson Investors. With effect from today, Robert Schramm-Fuchs and Nick Sheridan, experienced portfolio managers who have worked in the manager’s European Equities team since 2014 and 2009 respectively, […]
3i Infrastructure (3iN) has issued a performance update for the three months ended 31 January 2025 in which it says that its portfolio is performing well, with attractive growth opportunities, and that recent realisations demonstrate value creation potential. Its managers Scott Moseley and Bernardo Sottomayor, say that they continue to see good earnings momentum in […]
HgCapital Trust (HGT) has released its preliminary results for the year ended 31 December 2024 during which it has an estimated NAV total return for the year of 10.1%, driven by resilient trading in its underlying portfolio. Its shares have also enjoyed a rerating from a 13% discount to a 2% premium, which is reflected […]
On 18 December 2024, Henderson Opportunities Trust (HOT) announced that, in light of its performance and forthcoming continuation vote, it had instructed advisers to commence work on putting forward a scheme of reconstruction to give all shareholders a choice between ongoing alternative investment and/or a full cash exit at NAV. HOT has now published a […]
BlackRock Energy and Resources Income (BERI) has published its annual results for the year ended 30 November 2025, during which it provided NAV and share price total returns of 15.3% and 14.0% respectively, both significantly ahead of the internal benchmark that BERI uses to evaluate its performance (performance is measured against a blended comparator index […]
Gresham House Energy Storage (GRID) says that it has agreed substantial reductions in the annual fund management fees that it pays. Under the old AIFM Agreement, the annual fund management fee (AIFM fee) was calculated quarterly as a percentage of the Net Asset Value (“NAV”) at the beginning of each quarter, with the annual percentage […]
In QuotedData’s morning briefing 3 February 2025: Edinburgh Worldwide (EWI) has made an announcement in relation to its upcoming requisitioned general meeting and AGM, both of which are being held on 14 February 2025, in which it urges shareholders to “vote twice to stop Saba”. It says that shareholders can do this by voting against […]
With REITs and property companies having been heavily discounted by the market over the past two-and-a-half years, and with share prices moving inversely in eerily close tandem with gilt yields – the sharks are no longer just circling; they are taking huge chunks out of the sector. Seven REITs and property companies were lost to […]
From spaceflight to a new form of entertainment dubbed ‘shared reality’, discover the entrepreneurs and companies forging new paths outside public markets. Baillie Gifford’s Alexander Nicolier explains. Capital at risk. Listen here now
From spaceflight to a new form of entertainment dubbed ‘shared reality’, discover the entrepreneurs and companies forging new paths outside public markets. Baillie Gifford’s Alexander Nicolier explains. Capital at risk. Listen here now
Aberforth Smaller Companies (ASL) has published its annual results for the year ended 31 December 2024, during which it provided NAV and share price total returns of 12.1% and 10.7% respectively, both ahead of ASL’s benchmark – the Deutsche Numis Smaller Companies Index (excluding investment companies), whose total return in 2024 was 9.5%. It also […]
GCP Infrastructure has disposed of its interests in two operational onshore wind farms, Pates Hill Wind Farm and Milton Keynes Wind Farm, with total generating capacity of 28MW. The projects are located in Cumbria and Milton Keynes, each with installed capacity of 14MW, powered by seven Vestas V80 2.0MW turbines. The projects benefit from renewable […]
Further to its announcement of 4 December 2024, that it was bringing forward its continuation vote in order to provide clarity on the future of the company at the earliest opportunity (click here to see our coverage of that announcement), Schroders Capital Global Innovation (INOV) has now published a circular. A general meeting is being […]
Tritax Big Box REIT pre-let a 1m sq ft development in one of the largest letting deals in the UK in 2024. It made the announcement in a trading update for 2024, in which it also announced that it had sold £181.2m of non-core assets it acquired as part of the UK Commercial Property REIT […]
Following its announcement on 18 November 2024 that its board had concluded that a voluntary liquidation would be in the best interests of its shareholders, Miton UK MicroCap (MINI) says that its board has agreed non-binding heads of terms with Premier Miton that will give its shareholders the option to roll over their investment into […]
Ground Rents Income Fund has rejected an improved proposal to buy the company, which values it at around £35.9m. The board said the possible offer, by Victoria Property Holdings (which made a previous proposal in early January that valued it at £32.5m), “remains unattractive and materially undervalues the company”. Ground Rents’ NAV at 30 September […]
In QuotedData’s morning briefing 31 January 2025: ICG-Longbow Senior Secured UK Property Debt (LBOW) has issued an update in which it says it continues to make progress in exiting its three final investments in what remain challenging market conditions. The asset securing the Affinity loan has been placed under offer for sale following a competitive bidding […]
As at 31 December 2024, Chrysalis Investments’ unaudited NAV was 156.62p. That is a 15.36p (11%) increase since 30 September 2024. Most of the increase came from an uplift in the fair value of the portfolio (+11.38p), foreign exchange moves added 1.39p, and the share buyback added 2.76p; other income, fees and expenses make up […]
Patria Private Equity has published results covering the 12-months ended 30 September 2024. Over that period, its NAV total return was 2.4%. However, a narrowing of its discount from 43.2% to 31.4% helped generate a return to shareholders of 24.9%. The dividend rose to 16.8p from 16.0p. Highlights: Portfolio return in local currency – The […]
Over the course of 2024, the board of HarbourVest Global Private Equity (HVPE) says it consulted extensively, listened to and reflected on the views of a broad range of shareholders. The board strongly believes in the importance of funds such as HVPE in democratising private equity ownership for all investors. However, it shares the frustrations […]
In QuotedData’s morning briefing 30 January 2025: Dunedin Enterprise (DNE) says it has made a first distribution payment under its liquidation of £3.52 per share AEW UK REIT (AEWU) has reported a NAV uplift of 0.9% to 110.02p per share over the quarter to 31 December 2024. This produced a NAV total return of 2.7% […]
Oakley Capital Investments (OCI) has published a trading update for the year ended 31 December 2024, during which it provided an NAV total return of 2% (15p) or 6% (+40p) excluding the impact of foreign exchange, and a share price total of 3%. OCI’s unaudited NAV, based on a revaluation of all portfolio companies at […]
The independent proxy adviser ISS has published its voting recommendation in relation to the general meeting of The European Smaller Companies Trust (ESCT) in which it recommends that ESCT shareholders VOTE AGAINST ALL of the proposed resolutions that have been put forward by Saba Capital, at the general meeting that is to be held on […]
BH Macro has announced that, following the publication of its final month-end Net Asset Values for 31 December 2024, the class closure resolution procedure contained in its articles of incorporation has been triggered in respect of the year ended 31 December 2024 for both classes of its shares. This is because the average daily closing […]
