Murray Income hurt by Provident Financial profit warning – Murray Income reports that, over the year ended 30 June 2018, it returned +3.9%, which the board considers to be disappointing when compared to the All-Share Index return of +9.0%. The chairman’s report says that performance attribution analysis shows that UK sector allocation accounted for about three […]
Lazard World Trust Fund lost continuation vote – The board of Lazard World Trust Fund has announced that at the Annual General Meeting held yesterday at 3:00 p.m. (Luxembourg time), all resolutions were duly passed with the exception of Resolution 1 (the approval of the continuation of the company). As Resolution 1 has not been passed, it […]
Woodford Patient Capital writes up value of Industrial Heat – Woodford Patient Capital has added 8p to its NAV by writing up the value of Industrial Heat by 357%. This is now valued at $112.9m, which represents an increase of 8.02p per share of WPCT compared to the NAV published on Thursday 20 September 2018, […]
Polar Capital Technology helps New Star beat its benchmark – New Star Investment Trust has announced results for the year ended 30 June 2018. It delivered an NAV return of 6.5% which compares to 4.9% for the IA Mixed Investment 40% – 85% Shares (on averahe) and 9.5% for the MSCI AC World Index. A dividend of 0.8p […]
Tufton Oceanic invests US$12.9m in a Handysize Bulk Carrier – Tufton Oceanic Assets (SHIP) has agreed to acquire a Handysize Bulk Carrier for $12.9m. What is a Handysize Bulk Carrier? Handysize is a naval architecture term for smaller bulk carriers or oil tanker with deadweight of up to 50,000 tonnes. Their small size allows Handysize vessels to enter […]
Gore Street makes its two further energy storage investments- Gore Street Energy Storage Fund (GSF) has announce the acquisition of two additional UK energy storage projects with a combined installed capacity of 19 MW. This is Gore Street’s first investment following the acquisition of the two seed assets in June 2018 and the successful IPO of the fund on 25 May […]
PRS REIT buys two sites and agrees to buy a further three – The PRS REIT (PRSR) has announce that it has acquired a development site for the construction of 145 new family rental homes, with a gross development cost of c. £15.2m, and purchased a newly-completed Private Rented Sector (PRS) site, comprising 63 family homes for c. […]
BioPharma Credit extends loan to Amicus – BioPharma Credit (BCPR) has entered into a $150m, five-year loan agreement with Amicus Therapeutics, a US-based biotech focused on rare disease. The senior secured loan will have a 2.0% additional consideration and bears interest at Libor plus 7.5% subject to a floor of 1% and certain caps. The loan is interest […]
SQN Secured Income Fund – strategic review “paying dividends” – The annual report for SQN Secured Income Fund (SSIF) for the 12 months to 30 June 2018 has been released. The NAV and share price of the company (on a total return per share basis) rose by +5.4% and fell by -0.5% respectively. The foreign exchange exposure on non-Sterling assets (24.62% […]
Aberdeen Frontier Markets held back by Pakistan holdings – Aberdeen Frontier Markets (AFMC) has reported its annual report for the year ended 30 June 2018. In his statement, the chairman noted that absolute and relative performance was disappointing during the year. The company’s NAV per share and share price total returns in US dollars were -10.3% and -12.0%, respectively. This performance compared to a gain of 1.7% for the reference benchmark, […]
JPMorgan Global Growth & Income releases its 12 month results – The NAV of JPMorgan Global Growth & Income (JPGI) delivered a total return of +8.2%, whereas the company’s benchmark, the MSCI AC World Index rose by 8.9% (in sterling terms). The company’s share price returned 10.5% on the same basis, which reflects a narrowing of the discount to NAV. Performance Stock selection was the biggest […]
Primary Health Properties acquires key worker accommodation – Primary Health Properties (PHP) has announced that it has acquired a modern accommodation unit for the NHS keyworkers of Wansbeck General Hospital in Ashington, Northumbria. The purchase price of the unit is £22.8 million. Maple & Elm Court is located next to the Hospital and is let to Northumbria Healthcare NHS […]
NewRiver REIT agrees to run Canterbury shopping centre – NewRiver REIT (NRR) has announced that it has signed an asset management agreement with Canterbury City Council for the asset management of Whitefriars Shopping Centre. Implementing a new strategy NewRiver announced in May 2018 that it would become more involved in the running and managing of properties. Known as […]
AEW Long Lease invests in units in Kent – AEW UK Long Lease REIT (AEWL) has announced that it has purchased two industrial buildings on the Eurolink Industrial Estate, Sittingbourne for £3.9m. The purchase reflects a net initial yield of 6.3%. AEW is targeting an annual dividend of 5.5 pence per share paid quarterly, with an ambition to grow in line […]
Riverstone Energy secures a commitment of up to C$300M – The largest holding of Riverstone Energy Limited (RSE) is Hammerhead Resources. It represents 26.9% of Riverstone’s gross assets as of 30 June 2018. Hammerhead Resources has announced that it has secured from Riverstone Holdings LLC, a preferred share equity commitment of up to 300 million Canadian dollars […]
AEW UK Long Lease REIT reports a successful first year – AEW UK Long Lease REIT (AEWL), which directly owns a diversified portfolio of commercial investment properties, predominately in the alternative property sectors, has published its annual report and financial statements for the period of 18 April 2017 to 30 June 2018. On 6 June 2017, the company’s shares began […]
Stafford tops up Phaunos bid but is it enough? – we have a new development in the ongoing saga that has enveloped Phaunos Timber Fund. In response to the announcement of a potential new offer for the trust from Catchmark Timber, Stafford Capital Partners have upped their bid to $0.52 per share. This is still well short […]
Triple Point Social Housing joins the queue for extra cash – Triple Point Social Housing REIT has just published its interim accounts. Things seem to be on the right track, it has announced that its EPRA NAV has risen to 101.61p (as at the end of June 2018) from 100.84p (as at the end of 2017) and […]
RDI REIT completes on two transactions – RDI REIT has announced that it has completed a forward funding agreement to acquire two high quality distribution units in Bicester The company has also announced that it has completing the disposal of the Lochside office in Edinburgh. These transactions are in line with RDI’s strategy of recycling capital out of […]
Ruffer reports returns in line with its objective – Ruffer Investment Company (RICA) has released its annual report for the year ended 30 June 2018. The NAV of the company rose by 0.8% on a total return basis. The target return for the twelve month period to the end of June was 0.8%. Without its dividend of 1.8p per […]
Greencoat Renewables agrees to acquire four wind farms in Ireland – Greencoat Renewables (GRP) has agreed to acquire the majority of Coillte’s shareholdings in its portfolio of operating wind generation assets, for a total consideration of €136.1 million. The investments total a net generating capacity of 105.1MW, taking Greencoat Renewables’ total installed capacity to 299MW. About Coillte Coillte […]
John Laing Environmental Assets launches a Placing, Offer for Subscription and Intermediaries Offer – John Laing Environmental Assets Group (JLEN) is targeting an issue of £50 million through the issue of new ordinary shares at a price of 102 pence per share. The issue price of 102 pence per share represents a premium of 2.4% to the last published NAV as […]
Unite disposes of 14 properties for £180.5 million – Unite Students (UTG) has announced the unconditional exchange of contracts for the disposal of 14 properties, comprising 3,436 beds for £180.5 million, of which Unite’s share is £84.7 million. The properties are being sold to Singapore Press Holdings and completion is due later in September 2018. The purchase […]
Miton Global Opportunities to put three proposals to shareholders – Miton Global Opportunities (MIGO) has announced that it will put three proposals before shareholders at a general meeting to be held on 5 October 2018 at 11.45 a.m. The proposals are: Change the company’s articles Change the Articles so that the form of the Realisation Opportunity currently contemplated can […]
Residential Secure Income invests in retirement homes portfolio – Residential Secure Income (ReSI), which is a REIT that invests in residential asset classes that comprise the stock of UK social housing providers, has announced that it has exchanged contracts to acquire a 478 property retirement homes portfolio. The seller is Places for People, an housing associations. The transaction The consideration is […]
Augmentum Fintech invests in residential rent-to-own specialist – Augmentum Fintech (AUGM) has announced that it has invested £2.5 million in a UK-based residential rent-to-own specialist called Unmortgage This was part of a £10 million fundraising. Augmentum is participating in the fund raising alongside existing investor Exponential Ventures, and other investors. Unmortgage Unmortgage will offer a part-own part-rent […]
EF Realisation proposes wind-up terms and the in-specie distribution of its Lonestar holding. The winding up of EF Realisation (EFR) and an in-specie distribution of the company’s shares in Lonestar to certain larger shareholders will require shareholders to vote in favour of resolutions at an EGM of the company, which will happen on 24 September 2018. UPDATE: 25 September […]
Hg announces an investment in BrightPay into Transition Capital – HgCapital (HGT) has announced that it has invested in BrightPay, a provider of accounting and HR payroll software to SMEs in Ireland and the UK. The terms of the investment are not disclosed. Transition Capital’s first investment In early 2018, HgCapital made a £75 million commitment to invest in Transition Capital and […]
Regional REIT reports on a disposal and on letting news – Regional REIT (RGL) has completed a sale of Cheshunt office site for £17.25m and has agreed the first letting for Aztec West. Disposal of Cheshunt office site The company, which is a REIT that specialises in UK regional office and industrial property, has announces it has […]
Crystal Amber reports on a good year – The activist fund, Crystal Amber (CRS) has delivered its full annual report for the year ending 30 June 2018. Positive performance The NAV per share rose by 19.7% over the reporting period. NAV total return for the year was 22.8%. This compares well when compared with the performance of the reference benchmark, the Numis […]
