Over the six months to 31st December 2016, JPMorgan Emerging Market’s benchmark index, the MSCI Emerging Markets Index (in sterling terms), rose 13.0%. For the same period, the company produced a total return on net assets of +7.4%. The return to shareholders over the first half of the financial year was higher, at +10.2%. This reflects a […]
Over the six months to 30 November 2016 the Net Asset Value per share of Jupiter European Opportunities rose by 1.2 per cent. This performance was behind the return on the benchmark index, which increased by 10.9 per cent. over the same period. It would be tempting to attribute this short period of underperformance to […]
Standard Life Investments Property Income Trust has completed the purchase of an industrial investment in Sunderland for GBP5.5m, representing an initial yield of 6.4%. The property is located close to the Nissan assembly plant and is let for a further 5 years to a major supplier for Nissan. The property has planning permission for a […]
Amerigo Resources (ARG:TSX) Reported year end and Q4 2016 financial results. Gross tolling revenue for 2106 grew to US$124.4m from US$73.8m for 2015. The increase in revenue was due to a 52% increase in copper production to 56.8m lbs versus 37.3m lbs in 2015. Cash costs declined to US$1.73/lb from US$2.18/lb in 2015 due to […]
LondonMetric Property has announced the acquisitions of a regional distribution warehouse in Wakefield for £9.5 million and a last mile distribution warehouse in Dartford for £6.3 million; reflecting a blended NIY of 5.8% and a reversionary yield of 6.4%. At Wakefield, LondonMetric has acquired a well specified 120,000 sq ft regional warehouse located on a […]
The Renewables Infrastructure Group has announced a total shareholder return for 2016 of 15.7% on a share price basis and 9.3% on a NAV basis. The NAV rose to 100.1p (2015: 99.0p). Excluding the impact of the accelerated payment of an additional quarter’s dividend during the year, NAV per share increased by 2.6p. Dividends of […]
Alliance Trust has released a statement in an attempt to clear up any perceived conflict of interest in the appointment of Willis Towers Watson. We have reproduced this in full below: As announced in May 2016, the Board of Alliance Trust undertook a Strategic Review of the Trust to determine its future direction. The Board […]
Vast Resources (VAST:AIM) Quarterly production and operations update for the three months ended 31 December 2016, for their mines in Romania and Zimbabwe. Their 50.1% owned Manaila Polymetallic mine in Romania saw a 44% increase in copper concentrate production over the previous quarter, producing 889 tonnes at an average 19.5% copper. Zinc concentrate production increased […]
The SME Loan Fund is in discussions regarding proposals which it thinks, if implemented, should: address investors’ concerns regarding conflicts of interest between the Company, its current investment manager and its largest shareholder; provide the Company with access to a broader range of investment management skills through the appointment of SQN Capital Management, LLC (“SQN”) […]
The Board of Strategic Equity Capital understands that Harwood Capital Management and its representatives, of their own volition, are speaking to the company’s shareholders with a view to promoting a scheme that would result in Harwood, or an affiliate thereof, managing some or all of the company’s assets. The Board has been informed that Stuart […]
Hammerson has announced its annual results for the year ended 31 December 2016. The company describes the period as being one of, “robust operational performance across all parts of the portfolio”. During the period, net rental income increased by 8.8% to £346.5m and adjusted net profit increased by 9.9% to £230.7m (IFRS profit fell by […]
The total return on the net assets of Temple Bar in 2016 was 20.4% which compares with a total return of the UK market of 16.8%. There have been three interim dividend payments during the year each of 8.09p per share and the directors are now recommending a final dividend payment for the year ended […]
SEGRO says its EPRA NAV per share up was 8.0 per cent to 500 pence over the course of 2016. They say this was driven by a 4.8 per cent like-for-like increase in the value of the portfolio, reflecting development gains, UK rental growth and asset management activities. The 4.8% increase comprises a 4.5 per […]
Alpha Real Trust holds 18.7% of the share capital of Industrial Multi Property Trust (IMPT), and also holds GBP10.3 million of unsecured subordinated debt (value as of 30 September 2016). The directors of Alpha Real Trust wish to inform shareholders that they have not been consulted regarding the offer for IMPT by Hansteen and believe it […]
McKay Securities PLC has exchanged contracts for the unconditional disposal of the freehold of its remaining interest at Pinehurst Park, in central Farnborough to Pinehurst Investments Ltd (a subsidiary of Shaviram Developments Ltd), for GBP5.88 million. The purchaser has paid a GBP1.00 million non-returnable deposit, and McKay will retain income through to completion on 28(th) […]
SQN Asset Finance Income Fund (SQN) has announced its interim results for the year ended 31 December 2016. During the period, the company’s ordinary share NAV decreased by 0.01% but the ordinary shares are paying a monthly dividend equivalent to 7.25% of NAV annually and, in October 2016, the c-shares achieved a level of income […]
B.P. Marsh and Partners has acquired, through a newly established company Paladin NewCo Limited, an effective 35% shareholding in CBC UK Limited. CBC is a Retail and Wholesale Lloyd’s Insurance Broker, offering a wide range of services to commercial and personal clients as well as broking solutions to intermediaries. For the year ending 31(st) December […]
Witan Investment Trust has announced the appointment of GQG Partners, LLC as a manager of a segregated emerging markets portfolio for Witan, with an initial allocation of GBP70m, approximately 4% of the Company’s net assets. GQG Partners LLC is an independent, employee-owned investment boutique formed in June of 2016 by Rajiv Jain. As of 31st […]
Epiris is pleased to announce that its portfolio company AXIO Group has sold OAG, the global leader in aviation information and intelligence, to funds managed by Vitruvian Partners for approximately $215 million. This is the fifth major realisation from AXIO’s portfolio. Electra Private Equity PLC has received proceeds from AXIO of GBP104 million*, an uplift […]
Infrastructure India says that Distribution Logistics Infrastructure Limited (“DLI”) has, along with the wider logistics sector in India, experienced a dramatic deceleration of cargo movements in the immediate aftermath of the Government of India’s announcement of demonetisation and official withdrawal of certain high value currency denomination notes from circulation. India is an overwhelmingly cash economy […]
Herald Investment Trust has announced its annual results for the year ended 31 December 2016. During the year, the Trust’s NAV increased by 22.8% to 1,083.2p per share, whilst the share price increased by 18.4%. This reflected a widening of the discount, over the year, from 15.5% to 18.5%. The Trust says that during the […]
Landore Resources (LND.L:AIM) Announced a Maiden Mineral Resource Estimate for the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada. The resource estimate was 301,000 oz consisting of an indicated resource of 193k oz at 1.35 g/t Au and an inferred resource of 108k oz at 1.23 g/t Au. The estimated cost to […]
The boards of Hansteen and Industrial Multi-Property Trust (IMPT) have announced that have reached agreement on the terms of a recommended all cash offer for the entire issued ordinary share capital of IMPT by Hansteen. Under the terms of the offer, IMPT shareholders will receive 300p in cash for each IMPT share. This values the […]
Custodian REIT has sold a 22,286 sq ft public house on Palmerston Road, Southsea for GBP1.67 million, GBP0.19 million ahead of the 31 December 2016 valuation. The property is let to JD Wetherspoon plc on a lease expiring in 2040. The property was part of a portfolio acquired in August 2014. The Company intends to use […]
Foresight Solar Fund has announced results for the year ended 31 December 2016. The NAV at the end of the period was 102.9p, the total return on NAV was 7.04% and the return to shareholders 6.58%. The company made profits after tax of £30.7m, equivalent to earnings per share of 10.38p. They say the fund […]
Blackstone / GSO Debt Funds Management Europe Limited has informed Blackstone/GSO Loan Financing that Alan Kerr has decided to leave GSO during 2017. Mr. Kerr is a Senior Managing Director and Head of GSO’s European Customized Credit Strategies business (“CCS”). Mr. Kerr joined GSO in 2012 at the time of Blackstone’s acquisition of Harbourmaster Capital […]
Murray Income Trust says that, over the six months ended 31 December 2016,its NAV per share rose 8.7% on a total return basis; the wider UK market returned 12.0%. The share price ended the period at a discount to NAV of 11.1%, compared to 12.3% at 30 June 2016, resulting in a total return to shareholders over the period […]
NB Private Equity Partners has appointed Jefferies International to act as its sponsor and financial adviser as it considers a change in its listing arrangements. It is looking at a number of initiatives including the potential for increasing the voting rights of the company’s class A ordinary shares (“A Shares”) and a transfer of listing of […]
Over the year ended 30 November 2016, Brunner Investment Trust’s NAV increased by 20.2% on a total return basis, outperforming the benchmark which generated a total return of 18% over the period. The total dividend payment for 2016 was upped to 15.8p, an increase of 3.3% on last year. For the majority of its history, Brunner […]
BlackRock Throgmorton says that, during the year to 30 November 2016, the Net Asset Value per share returned 7.3% compared with a return of 6.3% from the benchmark, the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index. They are paying a total dividend for the year of 7.50 pence per share, an increase of […]
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