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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

19 Oct 2023
Syncona Freeline Therapeutics (SYNC) (FRLN)

Syncona bidding for Freeline Therapeutics

Syncona has submitted a non-binding proposal to a special committee of the board of Freeline Therapeutics offering to buy all the shares its does not already own for an upfront cash payment of $5.00 per American Depositary Share. This equates to a premium of 20% over the volume weighted average price of $4.16 over the […]

Sectors
19 Oct 2023
a control room at national grid eso

Gresham House Energy Storage says UK battery storage market looking brighter

Gresham House Energy Storage’s share price has been weak since its half-year results, when it revealed that low utilisation of batteries by National Grid ESO (ESO) in the power grid’s balancing mechanism was affecting the entire Great British battery energy storage industry. ESO hosted an event on 16 October called ‘Enhancing Energy Storage’ to provide […]

19 Oct 2023
speed fibre group logo

Cordiant Digital completes Speed Fibre deal

Cordiant Digital Infrastructure has completed its purchase of Speed Fibre DAC. This improves the fund’s portfolio diversification by asset class and geography, with the addition of wholesale and retail fibre services in Ireland. Cordiant Digital says that S”peed Fibre is a cash generative enterprise with a diversified base of blue-chip customers. The Group represents a leading […]

Sectors
19 Oct 2023
Hipgnosis Songs Fund: SONG

Hipgnosis launches strategic review

Following feedback from shareholders the board of Hipgnosis Songs Fund has decided to initiate a strategic review. Engagement over recent weeks with shareholders is said to have highlighted a continued belief in the portfolio and growth prospects of the asset class as well as the need for changes by the company in order to deliver […]

19 Oct 2023
a paper, a criossant and a mug of something 230601 morning 3

QuotedData’s morning briefing 19 October 2023 – HTCF, RSE, ABD, PIN, AERI, ASLI, AEWU

In QuotedData’s morning briefing 19 October 2023: Highbridge Tactical Credit (HTCF) will compulsorily redeem almost all of its shares on 1 November 2023 and then go into liquidation. Round Hill Music (RHM) shareholders overwhelmingly approved the takeover by Concord Bidco. The shares will stop trading before the market opens on 31 October and shareholders should […]

Companies
18 Oct 2023
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 18 October 2023 – NBMI, TOWN

In QuotedData’s morning briefing 18 October 2023: NB Global Monthly Income Fund (NBMI) provided an update for the month end September 30. The company noted that the managed wind-down of the portfolio, as described in the circular of 20 December 2022, has been in effect since the EGM shareholder approval of 27 January 2023. In […]

Sectors
17 Oct 2023
digital9 infrastructure logo

Digital 9 Infrastructure provides shareholder update

The board of Digital 9 Infrastructure (DGI9) provided an update on its recent shareholder consultation. Further to the announcement of 28 September 2023, the company’s board of directors confirms it has engaged with shareholders, representing approximately 74% of the issued share capital, in conjunction with the investment manager and the company’s joint corporate brokers, J.P. […]

17 Oct 2023
Space

Seraphim Space Investment Trust continues to plummet

Seraphim Space Investment Trust (SSIT) has announced its audited results for the financial year ended 30 June 2023. The company’s NAV total return was -7.1%, while shares fell 49% to see the discount widen to 70.9%. Regarding the discount,  the board continues to believe this does not reflect the performance of the portfolio or how […]

Sectors
17 Oct 2023
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 17 October 2023 – HEIT, BBOX

In QuotedData’s morning briefing 17 October: Harmony Energy Income Trust (HEIT) announced the successful energisation of two BESS projects: the 198 MWh / 99 MW Bumpers project, located in Buckinghamshire; and the 99 MWh / 49.5 MW Little Raith Project in Fife, Scotland. Both projects were energised ahead of schedule and take the company’s total […]

Sectors
16 Oct 2023

VietNam Holding’s managers celebrate their five year anniversary with solid outperformance

Vietnam Holding (VNH) has released its annual results for the year ending 30 June 2023. Over the period VNH reported a negative NAV return of (5.7%), though this represented an outperformance relative to the market, measured by the VNAS index, which fell by (10.0%). This also marks the fifth year of management under Dynam Capital. […]

16 Oct 2023
Hipgnosis Songs Fund: SONG

SONG drops the ball again

Hipgnosis Songs Fund (SONG) has announced that on 13 October 2023 Citrin Cooperman, SONG’s independent valuer, has materially reduced its expectations of industry-wide retroactive payments in relation to the U.S. Copyright Royalty Board’s decision regarding royalties payable to songwriters for the period covering 2018-2022 (CRB III). This means that the board expects significantly lower retroactive […]

16 Oct 2023
a paper, a criossant and a mug of something 230601 morning 3

QuotedData’s morning briefing 16 October 2023

In QuotedData’s morning briefing 16 October 2023: Asset Value Investors (AVI) has appointed Nick Greenwood to continue managing MIGO Opportunities Trust (MIGO). He will continue to work alongside co-manager Charlotte Cuthbertson, who joined AVI in July. Nick has worked with MIGO since its launch in 2004. Syncona (SYNC) has announced that its portfolio company Anaveon […]

Companies
13 Oct 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news update 13th October 2023

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: • European Opportunities (0:26) • GoreStreet Energy Storage (4:26) • Chrysalis (9:54) This week’s interview was with James de Uphaugh from Edinburgh Investment Trust – […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • UK
Sectors
Companies
13 Oct 2023
231013 QD view cracks in US markets

QD view – Are cracks appearing in US markets?

US stock markets have continued to power ahead in 2023. If the environment has been fragile, they have been seen as a source of stability; if investors have been more optimistic, they have seen US companies as a source of growth. They have outpaced their peers even as inflation has rebounded, interest rates have leapt […]

Sectors
Companies
13 Oct 2023
221130 CHRY

Chrysalis announces capital allocation policy, performance fee proposals and shareholder consultation

Chrysalis (CHRY) has provided the market with an update which sets out its capital allocation policy (this follows a consultation with shareholders in light of the emerging maturity of some of the company’s investments), details of proposed revisions to the performance fee and plans for a consultation with shareholders (based on the capital allocation policy […]

Sectors
13 Oct 2023
231013 FEML results

Fidelity Emerging Markets posts small NAV loss comparable to benchmark

Fidelity Emerging Markets (FEML) has published its annual results for the year ended 30 June 2023, during which it provided an NAV total return of -2.6% and a share price total return of 5.2%, which compare against a total return for its benchmark of -2.8% (all figures in sterling terms). Key highlights from the report […]

Sectors
13 Oct 2023
231013 JMI Results

Modest underperformance for JPMorgan UK Smaller Companies during second challenging year

JPMorgan UK Smaller Companies (JMI) has published its annual results for the year ended 31 July 2023, during which it provided an NAV total return of -5.0% and a share price total return of -4.4%, which compare to a return on its benchmark, the Numis Smaller Companies plus AIM Index (excluding investment companies), of -4.6%. […]

13 Oct 2023

Foresight Sustainable Forestry acquires three assets in Scotland

Foresight Sustainable Forestry (FSF) has acquired three assets in Scotland – Toun Hill, Threepwood Hill and Carlinden Burn – for a total cost of £8.3m (inclusive of tax and transaction costs). The purchase, which has been funded from FSF’s revolving credit facility (RCF), increases the size of FSF’s portfolio by 819 hectares to 12,545 hectares […]

Sectors
12 Oct 2023
view of shanghai at twilight

A good year for Fidelity Asian Values extends its good long term track record

Fidelity Asian Values has announced results for the 12 months endd 31 July 2023. The period was a relatively good one for the trust as the 11.4% NAV total return outperformed the comparative index (MSCI All Countries ex Japan Small Cap Index) which rose by 7.5% over the same period. A narrowing discount meant that […]

Sectors
12 Oct 2023
promotional pictures for JTL's software

Hg has bought a stake in JTL

Hg, the manager of HgCapital Trust has mad an investment in JTL-Software-GmbH (JTL), a leading ERP software provider specialising in e-commerce enablement solutions for small and medium-sized businesses (SMB) across Germany. The terms of the transaction were not disclosed. Based in Hückelhoven, Germany, and co-founded in 2008 by two brothers, JTL provides ERP software solutions enabling […]

12 Oct 2023
european opportunities trust plc written in white text against a view of sky surrounded by glass office towers

European Opportunities proposes conditional tender offer

The board of European Opportunities Trust intends to introduce a performance related tender offer. This follows an extensive shareholder consultation exercise ahead of the forthcoming continuation vote to be proposed at the annual general meeting on 15 November 2023. Proposed conditional tender offer details If the company’s net asset value total return does not equal or […]

Sectors
12 Oct 2023
large scale batteries lined up with a field in the distance

Gore Street Energy Storage comments on share price fall

Alex O’Cinneide, CEO of the investment manager, commented: “I wish to address fellow shareholders directly regarding the recent performance of the company’s share price, which has been disappointing, particularly considering the company’s continued impressive operating performance. In light of this, the investment manager, Gore Street Capital has purchased shares, as announced on 3 October. [1,260,000 […]

12 Oct 2023
a dronamics drone on a runway

HydrogenOne says Cranfield working on hydrogen-powered drones

HydrogenOne Capital Growth says that its portfolio company Cranfield Aerospace Solutions has announced a new route to market for its hydrogen fuel cell (HFC) propulsion system, with Dronamics, the world’s first cargo drone airline. Cranfield Aerospace and Dronamics have signed a Memorandum of Understanding to further progress the application of the Cranfield Aerospace’s HFC propulsion […]

12 Oct 2023
pictures of Assisi pet care's brand range

QuotedData’s morning briefing 12 October 2023 – NAS, JEMA, POLN

In QuotedData’s morning briefing 12 October 2023: North Atlantic Smaller Companies (NAS) has sold its stake in Assisi Pet Care. On a look-through basis the trust invested £3.6m over the course of three years via a buy and build investment strategy and expects to receive at the closing, approximately £11m. This represents an uplift on […]

Companies
11 Oct 2023
ThomasLloyd Energy Impact logo 230606 TLEI

ThomasLloyd Energy Impact to go ahead with RUMS project

ThomasLloyd Energy Impact (TLEI) has announced that it plans to proceed with the controversial RUMS project which led to a suspension of the fund’s shares back in April following a raft of related issues. We have discussed these in detail over the last few months with our latest updates here, and here.  QD Comment: “The […]

11 Oct 2023

Strategic investment update for HydrogenOne

HydrogenOne Capital Growth (HGEN) portfolio company Elcogen has announced a strategic investment for €45 million by Korea Shipbuilding & Offshore Engineering which is a member of HD Hyundai Group. The investment by HD Hyundai underscores both the company’s strategy of backing the leading innovators in the hydrogen industry, and its valuation of Elcogen.   HD Hyundai’s […]

Sectors
11 Oct 2023

Regional REIT appoints new investment adviser

Regional REIT has appointed ARA Europe Private Markets Limited as its investment adviser, taking over from Toscafund Asset Management. The appointment follows the announcement in April that ARA Europe REIT Manager had acquired a majority shareholding in London & Scottish Property Investment Management, the asset manager of Regional REIT. The board said that it believes […]

Sectors
11 Oct 2023

QuotedData’s morning briefing 11 October 2023 – APAX, IPU

In QuotedData’s morning briefing 11 October 2023: Apax Global Alpha (APAX) announced that it has invested approximately €16.6m in Bazooka Candy Brands. Apax’s Internet/Consumer sector team, working in partnership with Bazooka’s management team, will look to stand the company up as an independent business and build on the success of Bazooka’s global portfolio of confectionery […]

10 Oct 2023
QuotedData's Investment Trust Forum 2023

QuotedData’s Investment Trust Forum 2023

Welcome to the videos from the Investment Trust Forum 2023. The conference was for investment analysts, research committees and portfolio managers from all the major asset management groups, banks, stockbrokers, wealth managers and IFA networks and offered presentations and panel discussions on a range of topics. We were pleased to have panel sponsorship from Witan […]

Companies
10 Oct 2023
230807 hgen

Progress update for HydrogenOne

HydrogenOne Capital Growth (HGEN) announced that portfolio company Gen2 Energy has signed a transaction term sheet with integrated midstream energy company SEFE Securing Energy for Europe GmbH for the delivery of green hydrogen to Germany in the event that Gen2’s planned production plant in Mosjøen proceeds. The transaction term sheet defines the terms and conditions […]

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