European Investment Trust underperforms compared to Index– European Investment Trust plc (EUT) NAV total return for the year was -2.1% compared to the FTSE All-World Europe ex UK Index whose NAV for the year was 2.4%. Last year’s NAV was 29.9% which beat the benchmark last year by 7.3%. The share price discount to NAV […]
Ranger Direct proposes a share buy back- Ranger Direct Lending Fund plc (RDL) has announced today that they have made a proposal to the zero dividend preference share holders about a potential buy back of shares. They are seeking an agreement that will address both the needs of ZDP share holders and the share holders […]
BB Healthcare announces result of issue- BB Healthcare Trust plc (BBH) announced today that they have successfully raised gross proceeds of approximately £46.3 million from an initial placing, offer for subscription and intermediaries offer of ordinary shares. The net proceeds of the initial issue are approximately £45.4 million. They raised the money through the issue […]
Funding Circle gets backing from British Business Bank- Funding Circle SME Income Fund Limited (FCIF) has announced today that they have backing from the British Business Bank. British Business Bank will provide £150 million of funding via a senior, floating rate, loan. The loan will be used by Funding Circle to fund loans with small […]
Hipgnosis buys stake in Bernard Edwards catalogue- Hipgnosis Songs Fund Limited (SONG) has announced today that they have purchased a stake in the music catalogue of Bernard Edwards. They have not released how much their 37.5% stake was purchased for. Bernard Edwards is widely known for his partnership with Nile Rodgers, together they founded CHIC […]
Foresight Solar acquires 11 solar assets- Foresight Solar Fund Limited has announced today that they have acquired 11 operational solar assets which have a total combined capacity of 80.9 MW. They have purchased these assets for £33.1 million, including economic benefit of all cashflow from 1 April 2018. As previously reported on, Foresight is using […]
BlackRock Frontier announces result of rollover- BlackRock Frontier Markets (BRFI) has announced today the results of the C share issue from BlackRock Emerging Europe plc (BEEP) windup (read more here). BlackRock Frontier will be issuing C shares for 100 pence per C share in exchange for the transfer to it of cash, cash equivalent and […]
Volatility hinders returns at Keystone – Keystone Investment Trust (KIT) posted a NAV return of 0.0% for the year ended 30 September 2018, compared to last year’s NAV return of +7.8%. Share price total return for the year was also down compared to 2017 (share price total return for 2018 was 0.8% and 2017 was […]
Shaftesbury resilient to Brexit slowdown – Shaftesbury PLC owns a 15-acre portfolio in the heart of London’s West End. It says “The West End’s global appeal and resilient, broad-based economy provide considerable insulation from headwinds affecting the national economy and consumer confidence“. For the year ended 30 September 2018, it reports: EPRA NAV of GBP9.91 (2017: […]
Phoenix Spree Deutschland agrees lower management fees – Phoenix Spree Deutschland Limited has entered into a new property advisory and investor relations agreement with PMM Residential Limited. The new agreement replaces the existing property advisory agreement. It will reduce future management fees and result in significant cost savings: Based on the EPRA NAV as at 30 June […]
Tritax Big Box confirms Littlebrook planning approval – Tritax Big Box REIT owns 114 acres of prime London development land at Littlebrook, Dartford, within the M25, which was acquired in July 2017. It has successfully secured planning permission from Dartford Borough Council for the proposed development of a 450,240 sq ft cross-docked logistics facility with […]
Foresight Solar’s Australian subcontractor in administration – RCR Tomlinson Limited was contracted by Foresight Solar to provide Engineering Procurement and Construction (“EPC”) and Operations and Maintenance (“O&M”) services to its Longreach and Oakey 1 assets, both located in Queensland, Australia. RCR Tomlinson made an announcement to the Australian Securities Exchange on 22 November 2018 which said that administrators […]
Troy Income and Growth lags benchmark – Troy Income and Growth reports an NAV total return of +4.3% and a share price total return of +4.5% for the year ended 30 September 2016, lagging the All-Share Index, which returned +5.9%. Dividends for the year totalled 2.665p, a 4.1% increase on the prior year. The company shrank a […]
Augmentum releases first results – Augmentum Fintech has published its interim results for the period ending 30 September 2018. The NAV total return for the period was 5.1%.At the date of the report, the share price was 96.1 pence per share, representing a 7.6% discount to the NAV per share. The directors have resolved not to pay a […]
TwentyFour Income Fund (TFIF) has announced that its intends to raise additional equity capital. The fund raise opens today and new shares are to be issued at a premium of 2% to the unaudited net asset value per share as at 23 November 2018 (to be published on 26 November). TFIF says that the fund […]
Tufton Oceanic Assets Limited buys two containerships- Tufton Oceanic Assets Limited has acquired two containerships for US$13 million. The first containership is designed to haul fresh fruit all over the globe and the second ship is an LPG Carrier that they bought a 75% stake on 25 July 2018. Tufton purchased the remaining 25% stake […]
Aberdeen Standard European Logistics buys in France- Aberdeen Standard European Logistics Income PLC (ASLI) acquires a high quality logistics warehouse in Meung-sur-Loire, France. The total value of the acquisition is €23.5 million which will provide Aberdeen Standard a net initial yield of 4.7%. Contracts will become unconditional by no later than 22 January 2019. The […]
ReSI outperforms its expectations- Residential Secure Income plc (“ReSI”) (RESI) outperforms its expectations for the year since its IPO in July 2017. The NAV total return for the year was 9.5% which exceeded the 8%+ target set at IPO. This was driven by 7.0% uplift in portfolio valuation to £225.2 million compared to their acquisition […]
Second half brings down Baring Emerging returns- Baring Emerging Europe (BEE) reported a NAV per ordinary share of -2.57% for 2018 while the benchmark (MSCI Emerging Europe 10/40 Index) went up 1.62% on the year. After a strong first half of the year Baring Emerging Europe was brought down by turbulent economic situations. The manager […]
Shift to global helps Manchester and London outperform- Manchester and London (MNL) has reported an NAV total return per share of 26.9% (2017’s NAV return was 22.3%). This compares well with the benchmark, which is the MSCI UK Investable Market Index, which posted a NAV of 9.23%. Manchester and London has beaten its benchmark over […]
CATCo expecting large losses after California Fires – CATco Investment Management Ltd (CAT) is expecting large losses after the recent early November wildfires in California, specifically the Camp Fire and Woolsey fires. These fires are the most destructive in California’s history. the early estimates are predicting potential losses due to the fires in the portfolio […]
Intu Properties updates on possible takeover- Intu Properties (INTU) announced that there is currently a consortium of companies that are currently in the process of trying to put a cash offer together for Intu. The consortium consists of the Peel Group, the Olayan Group, and Brookfield Property Group. The independent committee formed by Intu decided […]
Schroder Oriental reports marginal underperformance- Schroder Oriental Income Fund (SOI) reported a net asset value return of 1.5% for the year, while the index reported a return of 1.8%. The dividend for the year did go up from 8.80p in 2017 to 9.40p in 2018 which represents a yield of 3.8% on the share price […]
BlackRock Emerging Europe announces rollover option- BlackRock Emerging Europe (BEEP) announces a rollover option to new C shares to be issued by BlackRock Frontier Investment Trust plc. The rollover option will consist of 11,286,143 ordinary shares. There is also a cash option that is being offered as part of the liquidation that was previously reported […]
Gore Street Energy Storage reports contracts secured- Gore Street Energy Storage (GSF) has announced that they have secured a Engineering, Procurement and Construction contract for their two most recent UK energy storage projects. The provider is NEC Energy Solutions with support from Nippon Koei-strategic partners and cornerstone investors. As previously announced (read more here) the […]
Tritax Eurobox buys another facility in Hannover- Tritax Eurobox (EBOX/BOXE) has exchanged contracts to provided forward funding for a new development of a new cold store and primary distribution facility at Wunstorf, near Hannover Germany. The contract is conditional on receiving the building permit. The development represents an investment of €27.5 million, which gives a […]
Establishment Investment Trust to wind up?- Establishment Investment Trust board after a poor performance recently has decided that the best option is to not vote to continue the trust. In October the share price fell 5.6%. The manager says that, during the month of October, the MSCI AC Asia ex Japan Index declined 8.8%, the […]
Aberdeen Standard Equity Income Trust just missed the benchmark for the year- Aberdeen Standard Equity Income Trust (ASEI) says its net asset value return was 5.5% which just missed the benchmark which was 5.9%. Earnings per share were 22.06p which is up 14.7% compared to last year’s figure of 19.23p. Dividends for the first three […]
Vinaland sells Green Park Estate, Vietnam Opportunity Fund sells alongside. VNL will return cash to shareholders VinaLand Limited is selling its stake in the Green Park Estate project, located in Ho Chi Minh City, Vietnam. The project consists of a total land area of approximately 15.7ha and was acquired by VNL in 2007, with the […]
Aberdeen Standard European Logistics buys Dutch warehouses in Zeewolde and Waddinxveen, revises gearing target Zeewolde Aberdeen Standard European Logistics has exchanged contracts to acquire a newly built pre-let warehouse in Zeewolde, the Netherlands, for a purchase price of EUR29.25 million providing a net initial yield of 5.0%. The agreement with developer Borghese, a developer of logistics, […]
