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 […]
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 […]
