In QuotedData’s morning briefing 21 March 2025: M&G Credit Income (MGCI) has announced the results of its placing and WRAP retail offer, which have collectively raised gross proceeds of £6.3m. MGCI will issue a total of 6,647,969 new ordinary shares at a price of 95.13 pence per new ordinary share, representing a 1.0% premium to […]
On 17 April, Achilles (AIC) issued a statement on Urban Logistics which we reproduce below: Achilles Investment Company Limited notes the potential conflict of interest concerning Richard Moffitt, chief executive officer of Logistics Asset Management LLP, the investment adviser to Urban Logistics REIT plc. Mr. Moffitt also holds an interest in M1 Agency LLP, where […]
Foresight Solar Fund has published its results for 2024. Its NAV fell from 118.4p to 112.3p over the period. The chairman’s statement does not tell us what the return to shareholders was [regular readers will know how annoyed I am by this, but the share price started the year at 102.2p and finished it at […]
Shaftesbury Capital has formed a strategic, long-term partnership with Norges Bank Investment Management (NBIM), the Norwegian sovereign wealth fund, in respect of its Covent Garden estate. Shaftesbury is selling a 25% non-controlling interest in the Covent Garden estate to NBIM. This values the Covent Garden estate at £2.7bn, in line with its independent property valuation […]
Fidelity European Trust has announced results for the 12 months ended 31 December 2024. The trust underperformed its benchmark over the period, returning 0.5% in NAV terms against 3.0% for the World Europe ex UK Index. The discount widened slightly too, which left shareholders with a return of -0.1%. [As with our story on European […]
Foresight Environmental Infrastructure has announced a plan to combine its investments in renewable biomethane refuelling stations with the assets of ReFuels N.V., a leading European supplier of Bio-CNG (compressed natural gas, which is helping to decarbonise the transport industry). The trust and one other Foresight-managed fund currently own a majority interest in a joint venture […]
In QuotedData’s morning briefing 20 March 2025: European Smaller Companies Trust (ESCT), which was one of the trusts targeted by Saba in its initial round of attacks, has published interim results covering the six months ended 31 December 2024. The figures show that it underperformed its benchmark index by 3.7 percentage points, returning -7.5% in […]
Keystone Positive Change (KPC) has announced that shareholders have approved the proposals for the scheme of reconstruction and members’ voluntary winding-up of the company. Implementation of the scheme remains subject to, among other things, shareholder approval at the adjourned second general meeting to be held on 28 March 2025. The board announces the following elections in […]
Schroder Asia Total Return (ATR) has announced its annual results for the year end 31 December 2024. The company delivered a NAV total return of 13.0%, outperforming the MSCI AC Asia Pacific ex Japan index which rose by 12.1%. This is the ninth year in the last decade that the company has outperformed the reference […]
In QuotedData’s morning briefing 19 March 2025: VinaCapital Vietnam Opportunity Fund (VOF) announced that Khanh Vu has been appointed as lead portfolio manager with immediate effect. Mr Vu joined VinaCapital in 2010 and has been an integral part of the team managing VOF since then. He is also a member of VOF’s investment committee. Commenting […]
Onward Opportunities Limited (ONWD) announced its annual results for the 12 months to 31 December 2024. The company delivered a NAV total return of 21.5%, comfortably outperforming the benchmark UK AIM All-Share’s total return by 25.4%, which fell during the same period. ONWD’s share price total return was 34.2%. During the financial year, the company […]
Harworth Group delivered a NAV total return of 9.1% over 2024, after seeing EPRA net disposal value (NDV) increase 8.5% driven by gains on development sites and land sales. Over the last five years the company has posted average annual returns of 8.4% against the MSCI All Property Index of 5.1%. EPRA NDV per share […]
In QuotedData’s morning briefing 18 March 2025: Tufton Assets (SHIP) announced its interim results for the six month period ended 31 December 2024. The company delivered a NAV total return of 6% with dividends paid during the period of US$14.0m, at an average 12 month yield of 5.9%. The share price was flat. On average, […]
Putin has published a decree that says that certain firms owning Russian stocks will be able to sell these to a New York based hedge fund – 683 Partners – which will then be able to deal in them in Russia. The decree opens up so many questions about how the firms were selected, who […]
Schroders Capital Global Innovation (INOV) has announced that its portfolio company Araris Biotech AG, has entered into an agreement to be acquired by Taiho Pharmaceutical Co. Ltd. for an upfront payment of US$400m, with the potential for additional milestone payments of up to US$740m. The transaction is expected to be completed in first half of 2025. […]
Pershing Square Holdings Ltd (PSH) has published its annual report for the year ended 31 December 2024. Despite a challenging macro and geopolitical backdrop, the closed-ended fund delivered a NAV total return of 10.2%, while the share price rose 8.3%, as the discount to NAV widened slightly from 29.6% to 31.2% over the year. In […]
Bellevue Healthcare (BBH) has published its annual results for the year ended 30 November 2024, during which it provided NAV and share price total returns of 11.1% and 13.7%, which compare against a return of 11.5% for the MSCI World Healthcare Index (all in sterling terms). BBH’s chair, Randeep Grewal, says that while it is […]
F&C (FCIT) has published its annual results for the year ended 31 December 2024. During the year, FCIT provided NAV and share price total returns of 21.0% and 16.9% respectively, which it says compares against a return of 19.3% for its All-World Index benchmark. FCIT’s discount widened over 2024 from 5.9% at the start of […]
Chelverton UK Dividend (SDV) has published a prospectus in relation to a placing for new 2031 ZDP shares along with recommended proposals for the reconstruction and winding-up of SDV 2025 ZDP Plc and a placing programme for its ordinary shares. SDV is proposing to issue up to 15m new zero-dividend preference shares in 2031 ZDPCo […]
Schroder British Opportunities (SBO) is proposing a material change to its investment policy so that its portfolio is focused entirely on private investments. SBO says that, since its IPO, it has provided a net asset value (NAV) total return of 13.44% and that much of the positive performance of its portfolio has come from the […]
Harmony Energy Income Trust (HEIT) and Foresight Group LLP have announced that they have agreed financial terms for a potential acquisition of HEIT by Foresight at 84p per HEIT share. The proposed transaction values HEIT’s ordinary share capital at £190.8m and is a 29% premium to the undisturbed closing share price of 65.2p on 14 […]
In QuotedData’s morning briefing 17 March 2025: Octopus Renewables Infrastructure Trust (ORIT) has extended the term of its revolving credit facility (RCF) from February 2026 to June 2028 and has significantly reduced the size of the facility from £270.8m to £150m. The updated RCF continues to be provided by ORIT’s four existing RCF lenders: National […]
The new US administration has sucked oxygen from other important stories around the world. While the world was focused on Trump’s tariffs, China quietly announced a $41bn package to boost consumer spending. It was a sign that the government would do ‘whatever it takes’ to drive growth. It may suggest a change of direction for […]
Begin your cosmic journey with Mark Boggett, CEO of Seraphim Space, and Will Whitehorn, Chair of Seraphim Space Investment Trust as they discuss the current SpaceTech landscape and satellite ecosystem. Exploring how this infrastructure is already being built above Earth, dramatically transforming our capabilities across climate, communications, mobility, and security. Find out how the space […]
Life Science REIT has launched a strategic review into the future of the company that will explore a potential sale or managed wind down. The board said in the announcement: “As set out in its interim results announcement on 26 September 2024, the board acknowledges the challenges and significant headwinds that the company has faced […]
Hg has made an investment in Scopevisio AG, which it describes as a leading innovator in cloud-based business automation. HgCapital Trust (HGT) will invest approximately £4.8m in Scopevisio, alongside other institutional clients of Hg through the Hg Mercury 4 Fund but, otherwise, the terms of the transaction are not disclosed. Hg says that the investment […]
In QuotedData’s morning briefing 14 March 2025: Digital 9 Infrastructure (DGI9) has refinanced the principal outstanding of £53.3m on its existing revolving credit facility (RCF) which was due to expire on 17 March 2025. The renewed RCF, which remains fully drawn, has been made available to the company for a committed three-month term expiring 17 […]
Just days after announcing a recommended cash offer for the company, Care REIT has reported annual results for 2024. EPRA net tangible assets (NTA) were up 3.7% to £493.97m (119.21p per share), reflecting a 4.3% increase in property investments, which were independently valued at £679.0m. EPRA earnings per share were up 2.4% to 8.89p, while […]
Empiric Student Property has reported annual rental growth of 9.3% in 2024 results, as the student accommodation sector continues to thrive. Like for like rental growth for the academic year 2023/24 was 10.5%, while it achieved 7.0% in the 2024/25 academic year. This translated into a 5.0% uplift in EPRA earnings per share 4.2p (2023: […]
Allianz Technology Trust reports an NAV increase of 35.6% over 2024, marginally behind the 35.8% return of its benchmark. The board observes that this was achieved without holding the index-matching weights in the largest companies – avoiding excessive concentration risk. The share price increased by 38.1%, as the discount narrowed. As usual, there’s no dividend. […]
