Schroder AsiaPacific Fund has announced its final results for the year ended 30 September 2018. Its chairman, Nicholas Smith, says that, during the year, “the Company retained the gains made in the two prior exceptional years, despite difficult market conditions generally”. The NAV produced a positive total return of 4.2%, very slightly trailing the benchmark, […]
BlackRock Frontiers (BRFI) has announced its final results for the year ended 30 September 2018. During the year, which the trust’s chairman describes as being a transition year, BRFI provided an NAV total return of -6.6% (in US dollar terms) thereby underperforming its reference index, which rose by 2.3%. (With effect from 1 April 2018, […]
The Local Shopping REIT has announced its final results for the year ended 30 September 2018. During the year, the Company made a loss of £7.15m (2017 loss £0.86 million) on an IFRS basis but made significant progress with its property disposal programme. As at 30 September 2018, the company’s portfolio was valued at £22.3 […]
Scottish Investment Trust (SCIN) has announced its final results for the year ended 31 October 2018. During the year, the share price total return was +1.9% and the NAV total return was +1.1%. SCIN does not have a formal benchmark but it says that, by way of comparison, the sterling total return of the international […]
Greencoat Renewables has announced that it has acquired two windfarms, Monaincha and Garranereagh, for €88m. The seller is BlackRock Real Assets and the purchase is being funded by Greencoat renewables revolving credit facility of €380m. The transaction is expected to close by the end of December 2018 and the two farms combined have a 45.2MW […]
SDCL Energy Efficiency Income Trust Plc (SEEIT) has announced that its IPO has raised gross proceeds of £100m (through the issue of 100m shares at £1 per share). The company says that it expects that its shares, which are to be listed on the London Stock Exchange’s main market, will start trading on Tuesday 11 […]
City Natural Resources High Yield Trust Plc has announced that, following shareholder approval at its AGM on 5 December 2018, it has changed its name to CQS Natural Resources Growth and Income Plc. The change takes place with immediate effect. The trust’s ticker (CYN) remains unchanged. The trust formerly known as City Natural Resources High […]
Hipgnosis acquires TMS catalogue- Hipgnosis Songs Fund Limited have made another music catalogue purchase, this music catalogue comes from TMS. TMS is an English song writing and music production team comprised of Thomas ‘Froe’ Barnes, Benjamin Kohn and Peter ‘Merf’ Keller. The company has acquired 100% interest in the catalogue except for the writers’ share […]
Regional REIT pays down debt- Regional REIT (RLG) has announced yesterday that they have a new 10 year facility for a total of £36 million with Scottish Widows Limited that was arranged by Bank of Scotland’s Real Estate and Housing Team. Regional will use the loan to pay back the remaining 5% (£13 million) of […]
BMO continues to increase dividend– BMO Capital and Income Investment Trust plc (BCI) has increased its annual dividend for the 25th year running. This year, the total dividend increased by 2.8% year-on-year, with the final dividend per share totalling 10.95 pence. Share price total return for the year was 5.3% (2017: 15.8%). The NAV per […]
Ediston Property sees an increase of NAV per share- Ediston Property Investment Company plc (EPIC) saw an NAV per share increase from 111.3 pence in 2017 to 115.3 pence in 2018. That equals an increase of NAV per share of 3.6% for the year. The average share price discount to NAV during the year was […]
Volatile markets make for a difficult year for JPMorgan Chinese- JPMorgan Chinese (JMC) announced yesterday that the fund’s NAV total return for the year was down 1.4%. The benchmark, the MSCI China Index, had a NAV total return of +0.6%. The total return for shareholders for the year fell by 5.0%. Gearing, which averaged 14%, […]
Infrastructure India (IIP) has announced that it has agreed extensions to the maturity of two of its loans. These are an existing US$48.4m unsecured bridging loan facility (originally provided to the Company in June 2017 by Cedar Valley Financial) and an existing US$21.5m working capital loan (originally provided to the Company in April 2013 by […]
HarbourVest Global Private Equity (HVPE) has announced that it intends to introduce an additional US dollar quote for the Company’s shares traded on the Main Market of the London Stock Exchange. The new US dollar quote will operate alongside HVPE’s existing sterling quotation. US dollar quote to go live on Monday 10 December 2018 HVPE says […]
Standard Life Investments Property Income Trust (SLIPIT) has announced that it has completed the letting of its largest vacancy, a logistics unit Swadlingcote, Derbyshire. The trust has also announced the sale of a unit at Broadway Business Park in Oldham and a letting at Monck Street in London. The Swandlingcote logistics unit The 141,000 square […]
Land Securities has announced that it has purchased a 1.6 acre site in Lavington Street, SE1 for £87.1m. The purchase, from a private company, increases Land Securities presence in Southwark. Colette O’Shea, Managing Director of Land Securities London Portfolio, said: “This acquisition gives us great potential in a submarket in which we have deep experience. […]
CATCo Reinsurance Opportunities has announced that its investment manager, Markel CATCo Investment Management Ltd, is subject to enquiries, by the US and Bermuda governments, into loss reserves recorded in late 2017 and early 2018. This includes its subsidiaries Markel CATCo Reinsurance Fund Ltd and Markel CATCo Re Ltd Markel CATCo Reinsurance Fund Ltd is the […]
Civitas issues update on Westmoreland – Following the publication of the recent investment adviser’s update commentary on 30 November 2018 (which we referred to in our article), Civitas Social Housing is now providing shareholders with a further update with respect to Westmoreland. Update on Westmoreland As at today’s date, 5 December 2018, Westmoreland represents 22.6% of […]
Riverstone sells Sierrra oil and Gas – Riverstone Holdings LLC, the manager of Riverstone Energy Limited, has announced that it has agreed to the sale of 100% of its membership interests in Sierra Oil & Gas, an oil and gas company focused on Mexico’s offshore Sureste Basin to DEA Deutsche Erdoel AG, an international independent exploration […]
Majedie fails to match benchmarks, discount widens – Majedie Investments says that, for the year ended 30 September 2018, its NAV return was 2.7% and the return to shareholders was 2.1%. By contrast, the All Share Index and MSCI World Index (in sterling terms) rose by 5.9% and 12.9% respectively. The dividend has been increased from […]
Tritax Big Box issues £400m loan notes – Tritax Big Box REIT has signed an agreement with a number of new institutional investors for a private placement of £400 million new senior unsecured loan notes. The loan notes comprise two tranches with a weighted average coupon of the fixed rate notes equating to 2.91 per cent. […]
Highcroft sells Southampton warehouse – Highcroft Investments has announced the sale of its long leasehold interest in a property on the Nursling Industrial Estate, Southampton. The property comprises a warehouse unit of 25,300 sq ft, on a 1.45 acre site. It is occupied by Metabo (UK) Ltd on a lease expiring in September 2020 producing an […]
Westmoreland rated V3G3 but Triple Point says impact minimal – Triple Point Social Housing REIT has made an announcement following the Regulatory Judgement published today by the Regulator of Social Housing in relation to Westmoreland Supported Housing Association. Westmoreland, a registered provider focused on the supported housing sector, has 1,379 social housing units under management and […]
Ecofin’s manager acquired by Tortoise – Ecofin Global Utilities and Infrastructure Trust says its investment manager, Ecofin Limited, has been bought by Tortoise Investments, LLC. Financial terms of the transaction were not disclosed. Tortoise Investments, based in Kansas City, owns a family of investment management firms which manage approximately US$20 billion including five New York Stock Exchange […]
Schroder European Real Estate (SERE) has announced its final results for the year ended 30 September 2018. SERE’s Chairman, Sir Julian Berney Bt., has described it as “another strong year that has seen SEREIT delivering growth in both net asset value and income”. He says that this was chiefly underpinned by the profitable disposal of […]
Along with the notice of its AGM, El Oro has published details of a new proposed rollover into JPMorgan Elect that the board is exploring as an alternative to a liquidation of the Company. The board says that their proposal offers a real choice to shareholders of either cashing out or rolling over into a […]
Odyssean beats Index since IPO– Odyssean Investment Trust plc (OIT) has had a good year so far since its IPO on 1 May 2018. The trust raised £87.46 million at its IPO and it has beaten the benchmark since IPO. The benchmark, which is the Numis Smaller Companies ex-Investment Trust plus AIM, has had a […]
Impact Healthcare will have no further fundraising in 2018- Impact Healthcare REIT (IHR) will not have any further fundraising in 2018 after they have decided that they no longer wish to acquire a portfolio of UK care homes consisting (announced of 24 October 2018) of 2,500 beds. The company has not announced why they no […]
PRS REIT has acquired development site – PRS REIT (PRSR) has announced today that they have purchased four new development sites. Two of the sites will be acquired immediately and, for the other two, PRS has entered into a forward funding arrangement. The four acquisitions combined represent a total of 464 new family rental homes […]
Possible takeover of Intu is withdrawn- Intu Properties (INTU) has announced that the consortium of Peel Group, the Olayan Group and Brookfield Property Group have decided that given the current macroeconomic conditions and the potential near term volatility across markets the offer has been withdrawn. Intu’s shares have dropped by 40% over the course of […]
