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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).

10 Oct 2023

Bounce back year for European Smaller Companies Trust

European Smaller Companies Trust (ESCT) has announced its annual report for the period ended 30 June 2023. NAV total return for the period was 16.4%, ahead of the benchmark Euromoney Smaller European Companies (ex UK) Index, which was up 10%. Share price total return was 13.6% with the discount now sitting at 14%. Following a […]

Sectors
10 Oct 2023

Target Healthcare REIT reports stabilising values and earnings growth

Target Healthcare REIT reported a 6.9% fall in EPRA net tangible assets (NTA) to 104.5p per share in full year results to 30 June 2023. The care home landlord said that valuations had stabilised over the second half of its financial year following the impact of higher interest rates in the first half. Uplifts of […]

Sectors
10 Oct 2023

QuotedData’s morning briefing 10 October 2023 – CORD, GCP, WHR

In QuotedData’s morning briefing 10 October 2023: Cordiant Digital Infrastructure Limited (CORD) announced that the acquisition of Speed Fibre DAC has been cleared under the United Kingdom’s National Security and Investment Act 2021. This clearance was required because an element of Speed Fibre’s network extends into Northern Ireland. Speed Fibre is Ireland’s leading open access […]

09 Oct 2023
221104 India Taj Mahal Sunrise

Ashoka India Equity has another year of strong outperformance

Ashoka India Equity (AIE) has released its annual results for the period ending 30 June 2023: Over the 12 month period AIE reported a NAV total return of 18.3% and share price total return of 19.4%. This represents an outperformance relative to its benchmark, the MSCI India IMI Index, which returned 11.8%. This also marks […]

Sectors
09 Oct 2023
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 9 October 2023 – OIG, AEWU, AGR

In QuotedData’s morning briefing 9 October 2023: Oryx International Growth (OIG) provided an update on the proposed bids for its holdings in Tribal Group, Pendragon, and Smoove. The offer for Tribal Group represents an approximate 41% premium to the recent share price and would return circa £14.8m in cash to OIG upon completion, representing an […]

Companies
06 Oct 2023
231006 QD view Discounts detached from reality

QD view – Are some investment trust discounts now detached from reality?

For those that joined our annual investment trust forum yesterday, either via the online live-stream or in person, the discounts to net asset value (NAV) that are currently prevailing within the sector, most notably in the alternative income subsectors although very few areas have been left unscathed, were a big part of the discussion. David […]

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

QuotedData’s weekly news update 6th 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: • Henderson High Income / Henderson Diversified Income (0:40) • Pershing Square (7:16) • Octopus Renewables (10:00) Andrew McHattie spoke about Regional REIT and Digital […]

Geographies
  • Europe (EU and EEA ex UK)
  • North America
  • UK
Sectors
Companies
06 Oct 2023
BGUK

Scottish Mortgage: How NVIDIA is accelerating AI

As with all investment strategies, your capital is at risk. NVIDIA’s co-founder Jensen Huang is Silicon Valley’s longest-serving chief executive. But his greatest impact may still be ahead of him, as Scottish Mortgage’s Claire Shaw explains Jensen Huang recently celebrated three decades as NVIDIA’s chief executive. It’s a remarkable achievement, particularly given that many recent […]

06 Oct 2023
Pacific Horizon Convergence Opportunity PHI

Pacific Horizon – challenging environment for growth but valuations look attractive

Pacific Horizon (PHI) has released its annual results for the year to 31 July 2023, during which it provided an NAV total return of -3.6% and a share price total return of -8.9%, which compares against a total return for the MSCI All Country Asia ex Japan Index of 0.8% (all in sterling terms). PHI’s […]

Sectors
06 Oct 2023

Macau Property Opportunities makes sales despite difficult environment

Macau Property Opportunities (MPO) has announced its annual results for the year ended 30 June 2023. During the first six months of the financial year, Macau was subject to strict dynamic zero-COVID regulations, in lockstep with mainland China. At the beginning of 2023, however, COVID controls were rapidly relaxed, triggering a dramatic economic recovery which […]

Sectors
06 Oct 2023
SDCL Energy acquires 50% stake in US energy portfolio for $110m

SDCL Energy Efficiency Income acquires outstanding Future Energy Solutions loan

SDCL Energy Efficiency Income Trust (SEIT) has acquired the outstanding balance of loan facilities secured against an operational portfolio of LED lighting projects, in the USA, held by Future Energy Solutions Lighting Holdings (FES), which is already a SEIT portfolio company. SEIT acquired the loan for approximately $31m (£25m) and its purchase gives SEIT the […]

06 Oct 2023
231006 ORIT wind farm

Octopus Renewables Infrastructure agrees Polish wind farm sales at 14-19% premium

Octopus Renewables Infrastructure Trust (ORIT) has entered into a conditional agreement to sell its Krzecin and Kuslin onshore wind farms in Poland to an affiliate of ORLEN S.A. On completion of the Transaction, ORIT expects to receive net proceeds, following the repayment of asset level debt and termination of hedging arrangements, of between PLN 470m […]

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

QuotedData’s morning briefing 6 October 2023 – TENT, GMP

In QuotedData’s morning briefing 6 October 2023: A recording of Triple Point Energy Transition’s (TENT’s) recent Capital Markets Event held on 28 September 2023 is now available online. Topics include: Overview of TENT; a deep dive on battery energy storage systems (BESS) and hydroelectric portfolios; asset optimisation and value creation levers; organic earnings growth; and […]

05 Oct 2023
a coffee pot and a mug, good morning from QuotedData

QuotedData’s morning briefing 05 October 2023 – UTG, GPE

In QuotedData’s morning briefing 5 October 2023: The Unite Group (UTG) has provided a trading update and Q3 valuations. Rental growth was up 7.3% for the 2023/24 academic year, with a 99.7% occupancy rate (versus 97.9% for the prior year). The Unite UK Student Accommodation Fund property portfolio was valued at £2,929m, a 0.2% increase […]

Sectors
05 Oct 2023
230330 inv the investment company

INV starts its first financial year under new management

The Investment Company (INV) has released its final results for the period ending 30 June 2023. INV reported a NAV return of 1.39% and share price return of 15.7% for the period. Mindful of the size and illiquidity of the trust, in July 2023 the board implemented a tender offer to allow shareholders to easily […]

04 Oct 2023

Merger proposal of Henderson High Income Trust and Henderson Diversified Income Trust

Henderson High Income Trust (HHI) and Henderson Diversified Income Trust ( HDIV) have announced a proposal to combine the two companies. The combination, if approved by each company’s shareholders, will be effected by way of a scheme of reconstruction and winding up of HDIV under section 110 of the Insolvency Act 1986 and the associated […]

Sectors
04 Oct 2023

Game of two halves for Ruffer

Ruffer Investment Company (RICA) announced its annual report for the year ended 30 June 2023. The company’s share price total return over the 12 months was -7.2% while NAV total return was -1.7%, resulting in a widening of the discount which now stands at 4.4%. The performance reflects a year of two halves for RICA […]

Sectors
04 Oct 2023

QuotedData’s morning briefing 4 October 2023 – RKW

In QuotedData’s morning briefing 3 October 2023: Rockwood Strategic (RKW) confirmed the resolution for a share sub-division was passed at its recent AGM.  On 11 October 2023 this will result in each ordinary share of capital of the company being sub-divided into ten new ordinary shares. The aggregate value of the shareholdings will remain the […]

03 Oct 2023

End of an era for Edinburgh Investment Trust

The directors of the Edinburgh Investment Trust (EDIN) announced that James de Uphaugh, the company’s portfolio manager, will retire in February 2024 after 36 years in the industry. James will continue to manage the company’s portfolio until February and will then be replaced as portfolio manager by his colleague Imran Sattar. As part of the […]

03 Oct 2023
a green coffee cup sitting on a book

QuotedData’s morning briefing 3 October 2023 – SBO, BGCG, SRE

In QuotedData’s morning briefing 3 October 2023: Schroder British Opportunities Trust (SBO) announced that director Diana Dyer Bartlett has been appointed as senior independent non-executive director of the company, in addition to her role as chair of the audit & risk committee. Separately, the company has also decided to form a new valuations committee, to […]

02 Oct 2023
headshot of Bill Ackman

Pershing Square gets approval for SPARC

The SEC has declared that Pershing Square SPARC Holdings, Ltd’s registration statement is effective. The company is targeting companies looking to raise at least $1.5bn of capital – that could be for private companies looking to list and provide an exit to founders and/or companies looking for additional equity capital. Pershing Square believes that this […]

02 Oct 2023
Biotechs boost Edinburgh Worldwide

SLFR continues to return capital to shareholders

SLF Realisation Fund (SLFR) released its annual results for the 12 months ending 30 June 2023. We note that SLFR is undergoing a managed wind down. Over the period SLFR reported a NAV total return of (25.8%) per ordinary share, and (2.7%) for 2016 C share. The chairman believes that significant progress was made over […]

02 Oct 2023
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 2 October 2023 – ICG, TMI, PEY, AERI, MWY, AIRE, SERE, JLEN

In QuotedData’s morning briefing 2 October 2023: India Capital Growth Fund (ICG) has announced that its investment manager, Ocean Dial Asset Management, has been acquired by AssetCo. As a result ICG will come under the River and Mercantile brand in due course, which will increase the resources available to ICG. Taylor Maritime Investments (TMI) has […]

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

QuotedData’s weekly news update 29th September 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: • Gulf Investments (0:34) • Digital 9 Infrastructure (6:20) • HICL Infrastructure (13:32) • Hipgnosis (14:58) This week’s interview was with Carlos Hardenberg from Mobius […]

Sectors
Companies
29 Sep 2023

Schroder Japan hits its third consecutive year of outperformance

Schroder Japan (SJG) has released its annual results for the period ending 31 July 2023. Over the 12 month period SJG reported a NAV total return of 11.7% and share price total return of 18.7%. This compares favourably to its benchmark return of 9.4% and is SJG’s third year of outperformance. Positive contributors to SJG’s […]

Sectors
29 Sep 2023

QuotedData’s morning briefing 29 September 2023 – SYNC, 3IN, API, HOME

In QuotedData’s morning briefing 29 September 2023: Syncona (SYNC) has announced that it is launching a share buyback programme of up to $40.0m. SYNC’s board believes that the current share price materially undervalues its portfolio and its prospects and that the shares represent a compelling and unique investment opportunity. SYNC currently trades on a (42.3%) […]

Companies
28 Sep 2023
Hipgnosis Songs Fund: SONG

Hipgnosis threatens to sack adviser if discount does not narrow

In the circular published today in connection with Hipgnosis Songs Fund’s planned catalogue disposal, the board has introduced some surprise elements to the proposals: The board says that if the continuation vote is passed at the 2023 AGM, there will be another at an extraordinary general meeting in January 2026, again at the AGM to […]

28 Sep 2023
the sun shines through the blades of a wind farm onto solar panels which occupy the bottom of the picture 230817 bsif

Bluefield Solar boosts dividend after bumper year for earnings

Bluefield Solar Income Fund has published results for the year ended 30 June 2023. As previously announced, the NAV eased slightly to 139.7p from 140.4p, as higher discount rates (used to discount BSIF’s forecast cash flows to calculate the NAV) and higer interest rates marginally outweighed the positive impact of higher power prices and inflation. […]

28 Sep 2023
Henderson Eurotrust HNE Jamie Ross

Henderson Eurotrust beats both benchmark and peers

Henderson Eurotrust has published results for the 12 months ended 31 July 2023. Over the period, it delivered an NAV return of 16.7% and a share price return of 19.7% – both ahead of the benchmark return of 16.1% and well-ahead of the peer group NAV return of 14.6%. The dividend was maintained at 3.8p. […]

Sectors
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