GRIT Investment Trust (GRIT) has announced its results for the six months ended 30 June 2023. The company’s NAV fell 29% over the period while shares fell 51.8%. Commenting on the results, Chairman Richard Lockwood noted: “The last six months have seen a continued increase in interest rates and high inflation in the UK. The […]
In QuotedData’s morning briefing 20 September 2023: Foresight Solar (FSFL) announced the appointment of Lynn Cleary as an independent non-executive director with effect from 18 September 2023. Lynn spent 17 years as CFO and managing director of strategic programmes for The Royal Bank of Scotland International and is currently the president of the Jersey Bankers […]
JPMorgan Mid Cap Investment Trust (JMF) announced its half year results to June 30 2023. The NAV total return for the period was +7.5%, ahead of the benchmark FTSE 250 Index (excluding investment trusts) return of +3.0%. The company’s share price discount to NAV widened marginally over the year resulting in a share price total […]
Weiss Korea Opportunity Fund (WKOF) announced its half year results for the period ended 30 June 2023. The company’s share price return was flat over the 6 months while NAV return was -3.4%, trailing the reference MSCI South Korea 25/50 Net Total Return Index which appreciated by 6.7% in GBP. Chairman Krishna Shanmuganathan noted that […]
In QuotedData’s morning briefing September 19 2023: AEW UK REIT (AEWU) has appointed a new chairman designate. Robin Archibald, formerly head of corporate finance and broking at Winterflood Investment Trusts, has taken a non-executive director role and will be appointed chairman of the company at the 2024 AGM when current chairman Mark Burton will retire. […]
Separately, GCP Infrastructure (GCP) and GCP Asset Backed Income (GABI) have issued statements saying that a proposed combination of the two companies has been terminated. A significant shareholder consultation exercise was undertaken and both statements make reference to a divergence of views existing amongst shareholders of GABI as being the hurdle. GABI’s board has said […]
In QuotedData’s morning briefing for 18 September 2023: HICL Infrastructure (HICL) has announced that it has entered into an agreement to sell its investment in Bradford Schools PPPs for £37m. This sale represents an 8% premium to its valuation at 31 March 2023. The sale represents HICL’s entire stake in the entities, which are two […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Ediston Property (0:30) • Supermarket Income REIT (5:28) • ThomasLloyd Energy Impact (8:51) • Hipgnosis Songs Fund (13:34) This week’s interview was with Dean […]
From April 2020 to June 2022, the energy transition and the war in Ukraine combined to generate a significant surge in commodity prices. Since then, commodities have struggled, weighed down by the weakness of China’s economic recovery and mixed economic data across the globe. More recently, however, they have started to tick higher once again. […]
CQS New City High Yield (NCYF) has released its annual results for its finical year ending 30 June 2023. NCYF reported a NAV total return of 2.04% and a negative share price total return of (0.68%). The positive NAV total return can be attributed to NCYF’s dividend pay-outs over the year, with the chairman highlighting […]
ThomasLloyd Energy Impact’s (TLEI) board has announced that following the failed continuation vote, it will terminate its arrangement with its current investment manager on 31 October 2023. The board has begun the search for a transitional investment manager to replace the outgoing one, with the intention being that this will be the most effective way […]
In QuotedData’s morning briefing 15 September 2023: VH Global Sustainable Energy Opportunities (GSEO) has announced that it will implement at £10m share buyback program. The board remains aware of the impact of GSEO’s discount, and will undertake buybacks when it believes to be in the interest of shareholders. Blackstone Loan Financing (BGLF) has announced that […]
Hipgnosis Songs Fund (SONG) announced a number of proposals which it believes will act as a catalyst for a re-rating of the company’s share price. These include: Catalogue sales for aggregate gross consideration of $465 million; Share buy back programme of up to $180 million; Repayment of $250 million drawn under the company’s revolving credit facility (“RCF”); […]
LondonMetric Property has sold a portfolio of four multi-let industrial estates to Hines for £40.5m, reflecting a net initial yield of 6.2% and in line with March 2023 valuations. The estates total 435,000 sq ft across 47 units and generate £2.7m of annual rental income, with a WAULT to first break of 2.9 years. Three […]
VietNam Holding ( VNH) provided an update for the month ended August 2023, highlighting the ongoing performance of the region which has boosted returns of VNH, with shares up 22% YTD. Manager commentary – Vietnam’s moment in the sun Vietnam enjoyed further stock market gains and GDP growth in August, setting up a shiny backdrop […]
Ecofin US Renewables Infrastructure Trust (RNEW) announced its half year report for the year period ended June 30 2023. NAV return for the period was 0.3% while shares fell 24.7% which saw the discount widen to 29%. Commenting on the performance, chairman Patrick O’D Bourke noted that this has been a difficult first half for […]
Castelnau Group (CGL) announced the appointment of Richard Brown as non-executive director of the company and chief executive officer of Castelnau Group. A former investment banker, Richard has over 14 years of corporate finance experience. He has advised firms ranging from the largest FTSE 100 companies to private businesses, UK-focused as well as international. The […]
Henderson High Income (HHI) has published its interim results for the six months ended 30 June 2023 and, against what was a volatile period for financial markets, the trust provided a net asset value total return of 3.0%, outperforming its benchmark, which returned of 1.9%. HHI’s share price total return of 2.0% was marginally ahead […]
Atrato Onsite Energy (ROOF) has entered into a share purchase agreement to acquire a fully operational portfolio of rooftop solar PV assets with a total value of £77.3m. The 34MW portfolio, which is made up of solar PV systems situated on residential rooftops across the UK, benefits from feed-in-tariff (FIT) payments, payable directly to ROOF […]
In QuotedData’s morning briefing 13 September 2023: Primary Health Properties (PHP) has acquired Ireland’s first Enhanced Community Care (ECC) facility at Ballincollig, near Cork, for €29.64m. The property is fully let to the Health Service Executive on a 25-year lease and benefits from five yearly, compounded annually, Irish CPI indexed rent reviews. The government led […]
In QuotedData’s morning briefing 12 September 2023: Regional REIT (RGL) reported a 9.0% drop in EPRA net tangible assets (NTA) to 66.9p per share for the six months to 30 June 2023 (Dec 2022: 73.5p). The value of the group’s portfolio of 150 regional offices fell 3.8% on a like-for-like basis to £752.2m (Dec 2022: […]
In QuotedData’s morning briefing for 11 September 2023: SEED Innovations (SEED) has announced the partial sale of its stake in Avextra AG, the German medical cannabis company, disposing of 56.4% of its shareholding. The sale resulted in gross proceeds of £2.45m, a 62% return on SEED’s initial investment. SEED retains a 3% stake in Avextra […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Ecofin US Renewables • RM Infrastructure Income • Round Hill Music This week’s interview was with Prashant Khemka from Ashoka WhiteOak Emerging Markets Trust – […]
The board of Ediston Property Investment Company (EPIC) has agreed a deal to sell the company’s entire portfolio of UK retail parks to US company Realty Income for £196.8m. The company expects to have net assets of £152.2m, equivalent to 72.0 pence per share. This is a 17.7% premium to the share price on 15 […]
I have been working with closed end funds – as an investment manager and an analyst – for almost 30 years. At times, the sector has felt like the poor relation of the investment industry. It does not attract the vast sums that flow into open-ended vehicles, exchange-traded funds (ETFs), or limited partnership structures, and […]
Round Hill Music Royalty (RHM) has announced that its board and that of Alchemy Copyrights, LLC, trading as Concord have reached agreement on the terms of a recommended cash offer at US$1.15 per RHM share, which values RHM’s share capital at approximately US$468.8m. On the basis of the closing price per RHM Share of US$0.69 […]
Ecofin US Renewables (RNEW) has announced that, given the wide discounts impacting RNEW and other alternatives investment trusts, and the unfavourable short-term prospects to raise new equity as a result, the board has decided to undertake a review of RNEW’s strategy, which will centre on a sale of the company’s assets. If a sale proceeds […]
QuotedData’s morning briefing 8 September 2023: AEW UK REIT (AEWU) has acquired a mixed-use asset in Bath city centre for £11.5m, reflecting a net initial yield of 8.0% and a capital value of £223 per sq ft. Following this acquisition, the company is close to full deployment, with remaining cash available to invest of £3m. The […]
Gulf Investment Fund (GIF) announced this week that its current portfolio manager, Jubin Jose, intends to step down at the end of December 2023. He will be replaced as portfolio manager by Bijoy Joy who is currently assistant portfolio manager of GIF, and who has been involved with Jubin in the day-to-day management of the […]
Greencoat Renewables has entered into a long-term strategic framework agreement with FuturEnergy Ireland, in respect of its 1GW+ pipeline of onshore wind projects. FuturEnergy Ireland is the recently established state-backed joint venture company co-owned by ESB and Coillte and is one of the country’s leading wind developers. This is the first strategic framework agreement entered […]
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