Net asset value (NAV) at RDI REIT fell 13% in the year to the end of August after after the company wrote off a portfolio of four shopping centres that had breached their debt covenant. The company breached the Aviva covenant earlier this year on a portfolio of four centres – Grand Arcade in Wigan; […]
In QuotedData’s other news 24 October 2019 Gabelli Merger Plus reported a return of 3.7% on NAV but, after discount widening, a return to shareholders of -6.5% for the year ended 30 June 2019. The best index comparisons are probably the S&P Merger Arbitrage Index which returned 8.33%, and the CS Merger Arbitrage Liquid Index, up […]
Schroder gets Woodford Patient Capital – The board of Woodford Patient Capital Trust plc has agreed heads of terms to appoint Schroder Investment Management Limited as the company’s portfolio manager. Shortly following the appointment, which is expected by the end of 2019, the company will be renamed Schroder UK Public Private Trust plc. Schroder intends to […]
Troy to absorb Cameron – Troy Income & Growth Trust has reached agreement, in principle, on the terms of a merger with Cameron Investors Trust. This would be effected by way of a scheme of reconstruction of Cameron under section 110 of the Insolvency Act 1986, which will result in the voluntary liquidation of Cameron and […]
Merian Chrysalis tops up holdings – Having raised £175m in September 2019, Merian Chrysalis has made a number of investments. All three are additions to existing holdings – in line with its statement at the time of the fund raise that it would use half the proceeds for this purpose. Starling Bank Merian Chrysalis has announced […]
BlackRock Greater European outperforms – Over the year to 31 August 2019, its NAV increased by 6.3%, outperforming the World Europe ex UK Index which rose by 4.8%. The share price increase was even better, rising by 7.9% over the same period. The dividend was increased slightly from 5.75p to 5.85p. Some of that is being […]
In QuotedData’s other news 23 October 2019 Triple Point Social Housing REIT has completed the acquisition of 18 supported housing properties, comprising 77 units in total, for an aggregate commitment of approximately GBP11.6 million (excluding costs). The properties are located in the West Midlands (30 units), the East Midlands (20 units), the South West (11 units), […]
In QuotedData’s other news 22 October 2019 The Renewables Infrastructure Group has acquired a 100% interest in Little Raith Wind Farm, a 25MW operational wind farm located in Fife, Scotland. The project consists of nine 2.75MW GE turbines and GE will continue to provide full-scope operations and maintenance services. Little Raith was commissioned in November 2012 and […]
HgCapital Trust to invest £31.6m in price reporting firm – HgCapital Trust (HGT) plans to invest £31.6m in Argus Media, a global provider of energy and commodity price reporting. The investment will be carried out by Hg, HGT’s manager, alongside other institutional investors in its Hg Saturn Fund. Dry powder of £134m available Based on the 31 […]
Gulf Investment Fund outperforms on lower Saudi exposure – Gulf Investment Fund (GIF) has released a report covering its third quarter period to 30 September 2019. The NAV was up 1%, compared to a 5.5% decline in the benchmark S&P GCC Index. Year-to-date, GIF’s NAV is up 17.9% (benchmark is up 3.7%). The funds outperformance during […]
In QuotedData’s other news 21 October 2019: Carador Income Fund will return $7m by way of a compulsory redemption of shares – a holder of 10,000 U.S. Dollar Shares will have 2,280 U.S. Dollar Shares redeemed, and receive US$1,330.60 in cash. SME Credit Realisation Fund will return £16m to shareholders by way of a compulsory redemption […]
Gresham House Energy Storage buys Preston project – Gresham House Energy Storage Fund has entered into a conditional agreement to acquire a 49MW battery project located on the Red Scar Business Park, by the Longridge Road and the M6 outside Preston. This is one of the exclusivity portfolio projects identified in the IPO prospectus published in […]
Adamas Finance to invest more in Japanese ski village – Adamas Finance Asia has signed a conditional share sale and purchase agreement with Infinity Capital Group to acquire 40% of Infinity TNP. Infinity is a real estate developer of premium residential projects in the Asia Pacific region, including in Hirafu Village, a world-class ski resort in […]
Sanditon to liquidate – The board of Sanditon Investment Trust says that it has received indications from certain significant shareholders that they intend to vote against the continuation vote to be proposed at the AGM planned in 2020. In light of this shareholder feedback, and following consultation with the investment manager, Sanditon Asset Management, the board […]
Roller-coaster year for JPMorgan Smaller Companies – Over the year to the end of July, JPMorgan Smaller Companies underperformed its benchmark – returning -5.2% against a -4.4% return on the Numis Smaller Companies plus AIM Index (excluding investment companies). A narrowing of the discount helped deliver a return to shareholders of -3.4%. The chairman describes […]
Great year for JPMorgan Global Emerging Markets Income – over the year to the end of July 2019, JPMorgan Global Emerging Markets Income generated an NAV return of 11.9%, well-ahead of the 4.8% return on the MSCI Emerging Markets Index. As the discount narrowed from 6.4% to 1.0%, the return to shareholders was 18.5%. The […]
In QuotedData’s other news 18 October 2019 Gore Street Energy Storage says its 9.0MW storage project at the Port of Tilbury is now operational. The behind-the-meter energy storage project benefits from a diversity of income sources including Triad revenues, a secured Fast Frequency Response (FFR) contract and a capacity market contract. It is using batteries from […]
UK Mortgages feels impact of falling interest rates – UK Mortgages says that, for year ended 30 June 2019, its NAV fell from 85.7p to 82.1p, its share price fell from 87.25p to 73.5p and it cut its dividend target from 6p to 4.5p. The main culprit for this is said to be falling interest rates. […]
Regional REIT buys office portfolio – Regional REIT has exchanged contracts to acquire a portfolio of four office assets for a total consideration of GBP27.7million from a UK institutional vendor, with completion expected by the end of October. The portfolio comprises four multi-let offices located in Redhill, Harefield, Bristol and High Wycombe. The assets total circa […]
India Capital Growth management team strengthened – Ocean Dial India hires Tridib Pathak as co-head of equities alongside Gaurav Narain. Tridib Pathak’s career in the Indian financial markets spans 30 years. Originally he appraised project finance and term lending for a public sector bank. He then moved across to a research focused role initially as a […]
South African REIT Growthpoint Properties has agreed a deal to buy a majority stake in UK shopping centre landlord Capital & Regional. The investment comprises a recommended partial offer to be made by Growthpoint at 33 pence in cash per Capital & Regional share to acquire 219,786,924 shares, representing approximately 30.3% and a subscription to acquire 311,451,258 new […]
CatCo makes further storm provisions – CatCo Reinsurance Opportunities has just released updated NAVs as at the end of September 2019. The NAV of the ordinary shares is down to 30 cents and the C share NAV is said to be 57 cents. The company has been making provisions against its anticipated losses from recent […]
In QuotedData’s other news 17 October 2019 Gore Street has expanded by £10.7m after raising an additional £9.5m from the NTMA and £1.2m from other investors. Hipgnosis Songs Fund raised £231m from its C share issue – that’s a lot of money but also quite a bit short of the £300m it said it was looking […]
Trust favourite Alexion acquires complentary player Achillion Rare disease specialist and investment trust favourite Alexion Pharmaceuticals (NASDAQ:ALXN) has notched up its second business development transaction in a just over a week, with a $1bn deal to acquire the smaller US competitor Achillion Pharmaceuticals (NASDAQ:ACHN). The acquisition follows the option deal covering StealthBioTherapeutics’ Phase II stage drug […]
QuotedData recently attended an investor property tour with Schroder Real Estate Investment Trust (SREI) and here we delve into the detail behind some of the group’s biggest assets. The tour took in three of the fund’s assets and the company revealed the strategies it has adopted to date and future asset management initiatives for the schemes. […]
SEGRO, the industrial and logistics developer, has updated on third quarter trading reporting positive letting and development progress. The company signed contracts worth £15.3m of new headline rent during the third quarter, taking the total for the nine months to 30 September 2019 to £48.6m. Rental growth from existing space, net of take-backs, was £2.1m – taking […]
In QuotedData’s other news 16 October 2019 – SQN Secured Income (SSIF) reported annual results to 30 June 2019. The shares were up 8.2% on a total return basis, while the NAV increased 4.4%. The company said that its income stability over the year was a testament to the uncorrelated nature of the assets that […]
Woodford Investment Management to close – The board of Woodford Patient Capital Trust (WPCT) announced last night that, in light of recent events, Woodford Investment Management Limited (WIM) had served notice of termination in relation to its role as manager. During its three-month notice period, the board said WIM has committed to work collaboratively throughout the […]
Hipgnosis signs up hip hop legend Timbaland – Hipgnosis Songs (SONG) has bought a music catalogue from Timbaland, the American record producer, rapper, singer, songwriter and DJ, who SONG describe as being widely regarded as the most successful and influential producer in the history of hip hop. The Timbaland catalogue that Hipgnosis has acquired comprises 108 albums and songs. […]
US Solar enters exclusivity talks to acquire 39 MWDC California solar portfolio – US Solar (USF) has entered exclusivity with Greenbacker Renewable Energy Corporation (Greenbacker), a company it describes as a leading investor and product sponsor focusing on income-producing renewable energy projects, to acquire an approximately 39 MWDC operating utility-scale solar power portfolio consisting of eight […]
