News

For the second half of 2016, A&J Mucklow has reported EPRA earnings per share up to 12.54p from 11.89p, an interim dividend up to 9.88p from 9.59p and an EPRA NAV per share up a little to 448p from 446p. They say that average rental increases on new lettings and lease renewals have been maintained […]

For the past couple of months our investment trust bargain hunter series has flagged up various discount opportunities in the out-of-favour UK smaller companies and Europe sectors. read more here

Mariana Resources (MARL:AIM) (MARL:TSX.V) Reported initial drilling results from their 100% owned Ergama project in western Turkey, located 90km SE of Teck’s Pilot Gold Halilaga Au-Cu project and 230km west north west of Eldorado Gold’s Kisladag gold mine which produced 211k oz of gold in 2016. The Ergama project license covers an area of 2,168 Ha (21.6 km2). Drill […]

Proposed discount control management policy In view of the proposed changes to Aberdeen Diversified Income & Growth (formerly BlackRock Income Strategies) as announced on 30 November 2016, and following further consultation with many shareholders, the Board has given detailed consideration to the appropriate discount control mechanism for the company following the implementation of the proposals. […]

Picton Property Income has disposed of a non-core property in Drury Lane, Oldham, for GBP2.2 million, completing its business plan for the asset. The warehouse was purchased in April 2010 for GBP0.4 million with an annual rent of GBP74,000 as part of the acquisition of Rugby REIT. During Picton’s ownership, it secured planning consent to […]

BlackRock World Mining says it is revaluing its investment in the Avanco Royalty. The valuation is being increased from $12m to $25.2m. This has the effect of adding 6p to the fund’s net asset value. BlackRock World Mining bought the royalty in 2014 – read that story here. BRWM: BlackRock World Mining revalues Avanco

The activist investor, responsible the massive recent changes at the Victorian era trust, has built up a near twenty per cent stake, that was spoiling investor sentiment following the implementation of a new investment strategy. read more here

Strategic Equity Capital has published its interim report covering the six months ended 31 December 2016 – the NAV per share and the NAV total return per share increased by 13.7% and 14.1% respectively. By contrast, the benchmark returned 18.0%. The chairman’s statement attributes the underperformance to the lack of natural resource exposure in the […]

Scottish American has reported results for the year ended 31 December 2016. Its net asset value total return (capital and income) for the year was 29.9% and the share price total return was 28.7%. The total return from the global equity market was 29.6%. A final dividend of 2.725p is recommended which will take the full […]

The board of JPMorgan Japan Smaller Companies has agreed with the manager to reduce the management fee payable on the trust. The old fee was calculated as 1% of gross assets. The new fee is 1% on the first £150m of net assets and 0.8% on any net assets above the £150m level. The new […]

UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here

In a brief statement this morning, it was announced that Stuart Widdowson had resigned as manager of Strategic Equity Capital. At the time of writing the shares are off 6%. The full text of the announcement is reproduced below. The Board of Strategic Equity Capital plc (the “Company”) announces that it has been informed by […]

Investors looking forward to a period of calm in 2017 might be disappointed, but David Prosser has the trusts experts are backing to navigate further storms.  Having just been through a year of unprecedented political upheaval that sent financial markets spinning, many investors will be assuming 2017 cannot possibly be so tumultuous. The reality, however, […]

Gemfields (GEM:AIM) Announces second quarter operational update for the period ending 31 December 2016. Production at the 75% owned Kagem Mine was 4.7 million carats of emerald and beryl with an average grade of 156 carats per ton, versus the quarter ending 31 December  2015 of 8.2m carats with an average grade of 272 cpt. […]

Henderson Opportunities says its Net Asset Value total return for the year ended 31 October 2016 was 0.4%, while the UK market returned 12.2%. Its discount widened significantly over the course of the year, to stand at 17.5% at the year end. The total dividend for the year is 19.00p an increase of 5.6% on the previous year. The […]

The Board of Polar Capital Global Healthcare has announced that following initial consultation with shareholders it has been working with its advisers and its investment manager, Polar Capital, on options for the future of the company. Any such proposals would be expected to include the opportunity for shareholders to continue their exposure to the healthcare sector in […]

Dunedin Enterprise Investment Trust PLC has realised its investment in Steeper Holdings Limited the UK’s leading supplier of rehabilitation services including prosthetic, orthotic and electronic assistive devices and services. Capital and accrued interest in Steeper was valued at GBP3.9m as at 30 September 2016, the last published valuation. Total initial proceeds from the sale amounted […]

Foresight Solar Fund has completed its largest acquisition to date with the purchase of a 100% interest in a 50MW alternating current (“AC”) export capacity operational UK solar asset, representing 72MW of installed peak capacity. Shotwick solar farm, located in Flintshire, is the largest operational solar asset in the UK. It was connected to the Grid […]

Africa Opportunity has had a setback in its dispute over its investment in Shoprite. In their half yearly report for the six months ended 30 June 2016 it was reported that the arbitration proceedings between the Company and Shoprite Holdings Limited had commenced in August 2016 and it was anticipated that the arbitrator would deliver […]

BlackRock Commodities Income has posted a 51.9% return on net assets for the year ended 30 November 2016. The return to shareholders was 51.4%. Over the same period, the Euromoney Global Mining and MSCI World Energy indices increased by 85.5% and 28.8% respectively (all data in sterling terms with income reinvested). The dividend for the […]

Aberdeen Frontier Markets beat its benchmark over the second half of 2016, posting net asset value per share and share price total returns of 3.7% and 6.3%, respectively. This compared to a gain of 3.2% for the MSCI Frontier Markets Net Total Return Index. The chairman’s statement says managers in Vietnam, Argentina and Kazakhstan performed […]

ICG Longbow Senior Secured has redeployed its uninvested cash through the completion of a new GBP16.0 million loan to clients of BMO Real Estate Partners on 31 January 2017. The loan has a maturity date of April 2019 and is fully compliant with existing investment parameters as set out in the original Prospectus.  The LTV of the loan […]

CC Japan Income & Growth has published its first Annual Report which reflects the period from listing on the London Stock Exchange on 15th December 2015 to 31st October 2016. As at 31st October 2016, and measured in Sterling, the share price has risen by 22.4% while the Net Asset Value has increased by 23.9% since […]

The Board of intu properties plc (‘intu’) notes the recent press speculation regarding the potential acquisition of Xanadu shopping centre in Madrid. intu confirms it has entered into an exclusivity agreement with entities of the Ivanhoé Cambridge Group to acquire the centre. The transaction would be funded from a combination of bank financing and existing […]

British Land has announced that, four months after launch, its office space at 7 Clarges Street, a 51,000 square foot prime commercial development in Mayfair, is now 83% let, having secured terms with Capula Investment Management, Quantum Pacific and Fortress Investment Group. Capula Investment Management will occupy 23,700 square foot across three floors whilst US-based […]

Wolf Minerals reported revenues from sale of tungsten concentrates at its Drakelands open-pit mine, in Devon, of A$5.4m for the quarter ended 31 December 2016. After considering spending of A$4.2m on development, A$20.7m on production and A$5.0m on finance costs, net cash used in operating activities for the quarter was A$24.6m. At the end of […]

Aberdeen Emerging has reported results for the year ended 31 October 2016. In an otherwise good year, the fund was marginally behind its benchmark. The net asset value total return for the year was 36.4%, slightly behind the total return of 37.7% from the benchmark index, the MSCI Emerging Markets Net Total Return Index (in […]

Redefine International has announced that it has sold an office block at 201 Deansgate, in Manchester, for £29.15 million. The building was originally acquired as part of the AUK Portfolio in March 2016 and Redefine International says that the sale price represents a net initial yield of 3.6% and a 14.3% premium to the last […]

Miton UK MicroCap Trust, managed by Gervais Williams (pictured), has announced its the intention to raise approximately £15m through the issue of ordinary shares, which are to be issued under the trust’s previously announced share issuance programme of up to 250m ordinary and/or c-shares. The Issue launched immediately following the announcement and the bookbuild is expected […]

CatCo Reinsurance Opportunities says its 2016 net asset value return for the ordinary shares was 8.12 percent and 7.27 percent for the C Shares, outperforming the Eurekahedge Insurance Linked Securities Advisors Index by 57 percent and 40 percent respectively. The total Side Pocket Investments (“SPI’s” – money set aside to meet potential claims) held at […]