Electra to make anther distribution – Electra has announced an agreement for the sale of its larger non-controlled assets, Photobox and Knight Square at 103% of adjusted 31 March 2018 carrying value and the outcome of the third phase of its strategic review. There will be a general meeting on 30 October 2018 to consider the adoption of […]
Yellow Cake reports NAV uplift on Uranium price rise – Yellow Cake plc (YCA), a specialist company operating in the uranium sector with a view to holding physical uranium for the long term, has released an operating update for the quarter ending third calendar quarter of 2018. The company’s NAV has increased by 21% to £2.42 /share relative to IPO price of […]
Genesis Emerging Markets lowers its fees to tighten discount – Genesis Emerging Markets Fund (GSS) has published it’s results for the year ended 30th June 2018. The NAV total return per share of the company rose by 6.8% over the twelve month period, which is in line with its benchmark, the MSCI EM (TR) Index. The share price, however, returned 8.4%. Performance After two […]
SQN Asset Finance Income’s operational focus supports performance – SQN Asset Finance Income Fund (SQN) has published its annual report for the year ending 30 June 2018. Performance of NAV The company’s NAV total return per share was +6.2%. For the 2016 C shares, the total return was +1.9%. The portfolio is performing well, with […]
Another registered provider being reviewed by regulator – on 18 September 2018 the Regulator of Social Housing published a ‘Grading under review notice’ on Trinity Housing Association Limited. The notice says that “Trinity Housing Association Limited does not currently have a regulatory judgement as it previously held less than 1,000 homes. We are investigating a […]
Baillie Gifford Japan benefits from positive stock selection – the annual statement for Baillie Gifford Japan (BGFD) has been released. Performance The company’s net asset value returned 22.1% (total return in sterling terms). By comparison, the company’s benchmark, the TOPIX index rose by 7.8% on the same basis. This was after deducting borrowings at fair value. The share price […]
Sirius completes acquisition of business park in Mannheim – Sirius Real Estate (SRE) has announced that it has completed the acquisition of a business park in the northeast of Mannheim in South West Germany. The total consideration was €9.62 million, reflecting an EPRA net initial yield of 6.0%. Funding The acquisition was funded using a combination of capital raised from […]
Invesco Income Growth trims fees – Following constructive discussions with the company’s manager, Invesco Fund Managers Limited, Invesco Income Growth‘s board has announced the agreement of amendments to the existing fee arrangement became effective 1 October 2018. A reduction in the fee from 0.65% to 0.60% for the first GBP150 million of market capitalisation; A reduction in the […]
Dunedin Enterprise sells Pyroguard, plans cash return – Dunedin Enterprise Investment Trust has announced the successful realisation of Pyroguard, the specialist fire resistant glass manufacturer. Total proceeds from the sale amounted to GBP9.3m representing an uplift of GBP0.4m over the valuation of GBP8.9m at 31 March 2018. The original cost of the investment was GBP3.8m and over its […]
Strategic Equity Capital NAV edges higher – Strategic Equity Capital has announced results for the year ended 30 June 2018. On a total return basis, the NAV per share increased by 1.8% during the year, behind the Small Cap ex Investment Trusts return of 6.4%. The share price fell during the year by 1.6%. The board is proposing a final […]
Schroder Japan reports modest outperformance – Schroder Japan Growth Fund has published its annual report for the year ended 31 July 2018. The NAV and share price outperformed the TSE First Section Total Return Index, producing total returns of 10.2% and 10.6%, respectively, compared with 9.7% produced by the index. The directors have declared a final dividend […]
Jupiter European pays £13m performance fee – During the twelve months to 31 May 2018, the total return on Jupiter European Opportunities’ net asset value was 10.2%. This compares with a return of 0.9% on the benchmark index and a total return on the middle market price of 11.3%. During the financial year to 31 May 2018 a […]
EPE Special Opportunities disposes its investment in Process Components – EPE Special Opportunities Limited (ESO) announces that ESO Investments (PC) LLP a limited liability partnership in which it is the majority limited partner, has disposed of its investment in Process Components Limited to Schenck Process UK Limited. Following the disposal of Process Components, ESO’s estimated NAV per share as […]
Phaunos Timber – Stafford’s offer has been accepted by shareholders – Stafford Bidco, the entity behind the offer for Phaunos Timber Fund Limited (PTF) has received valid acceptances from a workable majority of shareholders to be able to declare that their offer has been accepted. Stafford first offered to purchase Phaunos in June 2018 – to read about […]
Fidelity Asian Values’s discount narrows to the benefit of shareholders – Fidelity Asian Values PLC (FAS) as delivered its financial annual report for the year ended 31 July 2018. Performance – headlines The company’s undiluted NAV rose by 2.2% on a total return basis. By way of comparison, its comparative index, the MSCI AC Asia Ex Japan PR USD rose by 5.7% . […]
Tritax Big Box REIT exchanges contracts on Merseyside acquisition – Tritax Big Box REIT (BBOX) has announced that the company has exchanged contracts, conditional on full planning consent, for the forward funded development of a new logistics “sortation centre” (see below) at Haydock, St Helens, Merseyside. The property is pre-let to a company BBOX describe as “a financially […]
F&C UK Real Estate Investments’ share price doesn’t reflect NAV performance – The total return of the NAV per share of F&C UK Real Estate Investments (FCRE) was 13.6% for the 12 month period ending 30 June 2018. The UK commercial property market delivered a total return of 9.4% as measured by the Investment Property Databank (‘IPD’) UK Quarterly Index. […]
JPMorgan Mid Cap performs well in choppy waters – JPMorgan Mid Cap Invest Trust (JMF ) has released its full report for the year ended 30th June 2018. Performance in choppy waters The company’s NAV rose by 16.4% on a total return basis, compared with the benchmark the FTSE 250 Index excluding Investment Trusts, which delivered a total return […]
Jupiter US Smaller Companies benefits from adjusted investment approach – Jupiter US Smaller Companies (JUS) has released its annual financial report for the year ended 30 June 2018. Performance The company’s NAV per share increased by 21.1%, whereas the benchmark, the sterling adjusted Russell 2000 Index returned 14.2%. This outperformance came from the smallest stocks in the portfolio (those under $1 billion in market cap) […]
Bluefield Solar reports on a positive year of operational performance – Bluefield Solar Income Fund (BSIF) has published its annual report and financial statements for the year to 30 June 2018. Performance The company delivered an NAV total return for the year to June 2018 of 9.25%. The share price total return was 11.68%. In the five years since IPO, total returns […]
RDI REIT acquires an industrial estate for £26.3m – RDI REIT (RDI) has announced that it has completed the acquisition of Southwood Business Park, an industrial estate in Farnborough, Hampshire. The total amount paid is £26.3 million, which reflects a net initial yield of 6.2%. In line with strategy The investment is in line with RDI’s stated strategy to […]
Tritax EuroBox acquires a distribution centre in Barcelona – Tritax EuroBox (EBOX/EBOX) has announced that it has acquired a global distribution centre at Lliçà d’Amunt, Barcelona. It is currently let to Punto Fa S.L., trading as MANGO, the fashion retailer. The total consideration is €150 million (excluding purchaser’s costs), reflecting a net initial yield of 5.0% on the corporate […]
Africa-focused property company Grit reports on its first year since listing – Grit Real Estate Income Group (GR1T) has delivered its first full report for the twelve month period to 30 June 2018. Performance The NAV per share of the company increased by 5.2% year-on-year . Its EPRA NAV return increased by 6.0% . This increase in NAV is attributable to strong portfolio growth, with […]
City of London increased its dividend for 52nd consecutive year – City of London Investment Trust (CTY) has published its annual report for the year ended 30 June 2018. The NAV delivered a total return of 6.3% over the twelve month period. The dividend was increased for the 52nd consecutive year, by 6.0%, which is ahead of inflation. In comparison, the FTSE […]
Gulf Investment Fund’s new strategy is in place – During the 12 months period to 30 June 2018, Gulf Investment Fund (GIF)‘s NAV per share rose by 7.8%. The S&P GCC composite index and the MSCI Emerging Markets index returned 8.6% and 5.8% respectively. Following a narrowing of the discount to NAV, the shares rose by 13.0%. The report goes into […]
Henderson European Focus Trust gets a new Co-Fund Manager – The board of Henderson European Focus Trust (HEFT) has announced that Andrew McCarthy has been appointed co-fund manager of the company’s portfolio alongside John Bennett. Andrew has only recently joined Janus Henderson and he was recruited specifically to work alongside John on his European long-only funds and mandates. Biography Andrew […]
Jupiter UK Growth’s domestic bias holds back performance – In its annual report for the period to 30 June 2018, Jupiter UK Growth Investment Trust (JUKG), the company reported a rise in its NAV per share (total return) of 4.0%. The company’s reference index, the FTSE All Share index returned 9.0% on the same basis. Performance A number of holdings were subject […]
Macau Property Opportunities disposal plan is on-track – Macau Property Opportunities Fund (MPO) reported on the progress of its gradual wind-up in its annual report for the period ending 30 June 2018. The chairman reported that the shareholders’ decision at the recent EGM to extend the company’s life until the end of 2019 placed them in a stronger position […]
AXA Property Trust gets a reprieve – As a result of the attendance of representatives of approximately 30% of the shares of the company at an Extraordinary General Meeting (EGM) who didn’t want the intended wind-up of the company to go ahead, AXA Property Trust (APT) will continue to operate. The EGM was held on 7 September 2018 […]
Catchmark will not bid for Phaunos – Stafford bid now the only one on the table. “Further to the announcement by CatchMark Timber Trust, Inc. (“CatchMark” or the “Company”) on 6 September 2018, CatchMark announces that, following discussions with the Board of Phaunos, it does not intend to make an offer for Phaunos. As a […]
