Aberdeen Standard Logistics buys Dutch logistics warehouse – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in Ede in the Netherlands for a net value of EUR26.5 million from David Hart Group. A fully CPI-indexed lease has been signed with Dutch retail and pharmacy operator Kruidvat (part of the A […]
Another great year for Henderson Smaller Companies – Over the year to the end of May 2018, Henderson Smaller Companies says its share price has risen by 23.8%, and the net assets by 15.9%, substantially outperforming its benchmark, the Numis Smaller Companies Index (excluding investment companies), by 10.6% – the return on the index was 5.3%. The chairman points […]
Hansteen buys portfolio from St Modwen – Hansteen has exchanged contracts to acquire a mixed-use portfolio of 34 properties. The properties are located throughout the UK with a focus on the North West and the West Midlands for £53.7m, reflecting a net initial yield after costs of 9.15% and a low capital value of £41 per sq […]
John Laing Infrastructure bid recommended by board – the Dalmore Capital / Equitix bid for John Laing Infrastructure Fund is now official and has been recommended by JLIF’s board. The terms – 142.5p cash and 3.57p in dividends are unchanged. Bidco (the company formed to make the offer) has received irrevocable undertakings to vote or procure votes to approve […]
Impact Healthcare adds another five care homes – Impact Healthcare REIT has exchanged contracts to acquire five care homes with a combined total of 218 beds for a total consideration of £12.15m. The homes are: Briardene Care Home, Sovereign Lodge and Sovereign Court, all in Westerhope to the west of Newcastle; Derwent Care Home in Hamsterley, Durham; […]
Foresight Solar buys 15 solar assets – Foresight Solar Fund Limited has completed the acquisition of a 100% interest in a portfolio of 15 operational solar assets in the UK with a total installed capacity of 114 MW for approximately £47m, including the benefit of all cash flows from the portfolio since 1 April 2018. This deal […]
Summit Germany takes control of GxP German Properties – Summit Germany has entered into an unconditional agreement to acquire around 72% of GxP German Properties AG, a company listed on the Frankfurt Stock Exchange, from Consus Real Estate AG and other minority holders. GxP owns an office portfolio of ca. EUR166 million in major German cities, mainly […]
Tekla Healthcare top specialist fund performer in July Tekla Healthcare Opportunities, a US closed end fund that invests largely in US large cap pharma and biotech, saw the best investment performance of the 14 specialist biotech specialist investors monitored by Marten & Co, in terms of its sterling-adjusted NAV performance for the month of July. Switzerland’s BB […]
Trust favourite Neurocrine’s shares rise on strong Ingrezza report Neurocrine Biosciences (Nasdaq: NBIX), the US biotech that is the largest single holding for International Biotechnology Trust (IBT, 5.5% of NAV) and second largest for BB Biotech (BBB.S, 8.9% of NAV), has seen its share rise by more than 15% this week on the back of a strong […]
Arix remains highly geared to Autolus value Arix Bioscience’s 8% investment in Autolus Therapeutics (Nasdaq: AUTL), the recently floated second-generation CAR-T company, now accounts for more than half of the value of its investments, some 25% of its NAV and almost 30% of its stockmarket value, according to calculations by Marten & Co. Arix is by far […]
Ranger reports positive development in Princeton fight – the bankruptcy court has already ruled that portions of Ranger Direct Lending‘s claims against Princeton and the general partner in pending arbitration proceedings could proceed and be fully adjudicated. The arbitration panel has now rendered a “Partial Final Award” on Phase I of the arbitration as follows: Princeton breached […]
Better second half for Diverse Income but annual result still lags All-Share – Over the year to the end of May 2018, Diverse Income Trust generated a return on NAV of 5.2%, a little less than the return on the All-Share Index of 6.5%. total dividends rose by 13.3% to 3.4p and there is also a special dividend of 0.23p. […]
HBM sees best share price performance in YTD period London-listed HBM Healthcare (HBMN) recorded the best share price price performance so far this year of the 14 biotech specialist investment trusts monitored by Marten & Co, with a 25% rise in the seven months to end July. HBM’s share price outstripped growth in NAV, which […]
Puretech Health affiliate Karuna raises $42m Karuna Pharmaceuticals, a neuroscience unit of LSE-listed healthcare venture firm Puretech Health (LSE: PRTC), has completed a $42m Series A financing comprising the issue of $20m of new equity and $22m on conversion of debt. Participants in the financing included Arch Venture Partners, Wellcome Trust, Dr Steven Paul (a Karuna board […]
Dolphin sells Amanzoe – Dolphin Capital Investors has agreed to sell its 100% interest in Amanzoe and 20 of its Kilada Hills Golf plots to Grivalia Hospitality S.A.. Grivalia is managed by Grivalia Properties, a real estate investment company listed on the Athens stock exchange. It also acquired DCI’s interest in Pearl Island, Panama in January 2017. […]
UK Commercial Property cuts management fee – The trust has released a NAV as at 30 June 2018 and published one of its regular quarterly updates. Following shareholder approval the company converted to a REIT on 1 July 2018 and changed its name to UK Commercial Property REIT Limited. The purpose of this was to mitigate […]
Renewables Infrastructure in talks to buy Swedish wind farm – The board of The Renewables Infrastructure Group Limited has made a statement, saying that it notes recent press speculation that the company is in discussions with Enercon for the acquisition of an equity interest in in the 229.1MW Ersträsk onshore wind farm located in Piteå, Sweden. They say […]
Artemis Alpha outperforms in year of transition – Artemis Alpha Trust has reported its results for the year ended 30 April 2018. It was a reasonable period for the trust, the NAV return was 11.0% on a total return basis, compared with an 8.2% increase in the All-Share Index. The share price return was 13.2%. Dividends for the […]
Caledonia adds to investment in 7IM to complete acquisition of TCAM – Seven Investment Management has been able to complete the acquisition Of TCAM with the backing of a further £14.0 injection of cash from Caledonia Investments (CLDN) Seven Investment Management (7IM) is an investee company of Caledonia. Prior to the transaction, 7IM was Calidonia’s second largest position at approximately […]
JPMorgan Asian appoints new co-manager – The board of JPMorgan Asian Investment Trust has announced the appointment of Robert Lloyd, as a fund manager of the company, alongside Ayaz Ebrahim and Richard Titherington. Robert, an executive director at JPMorgan Asset Management (‘JPMAM’) and based in Hong Kong, is a portfolio manager within the Asia Pacific Regional team […]
Invesco Perpetual Select reports a mixed bag of results – Invesco Perpetual Select has published its full annual report for the year ending 31 May 2018. But first, a bit more on the company: The company’s investment objective is to provide shareholders with a choice of investment strategies and policies, each intended to generate attractive […]
International Public Partnerships makes second digital infrastructure investment – International Public Partnerships (INPP) will make a further investment of up to about £8.5 million into digital fibre-based network assets as part of its previously announced commitment of up to £45 million to the asset class via the National Digital Infrastructure Fund. INPP’s latest investment via the National Digital […]
Investment Trust Insider on Riverstone Energy James Carthew: Riverstone’s history restricts oil boom effect BP’s announcement on Friday that it is spending $10.5 billion to buy BHP’s US shale oil investments, comprising considerable acreage in the Permian and Eagle Ford basins plus gas-producing fields in the southern states of the US, is a good cue […]
F&C Managed Portfolio – Big difference in performance of growth and income shares – F&C Managed Portfolio (FMPG & FMPI) has released its results for the twelve month period to 31st may 2018 One company; two portfolios F&C Managed Portfolio is an investment company that has two investment portfolios. These are F&C Managed Portfolio Growth (FMPG) and F&C Managed Portfolio Income (FMPI). The two […]
Infrastructure India gets a £95.5m life line from PSA – Infrastructure India (IIP) has announced that it has agreed a conditional proposed financing with PSA International and Gateway Partners and that US$125 million (approximately £95.5 million), before expenses, will be made available to IIP (the Group). IIP has regularly announced increases in its bridging loans, bring the total to US$40.0m. […]
Schroder Real Estate buys office property in Edinburgh and Nottingham – Schroder Real Estate (SREI) has announced the acquisition of two office developments in Edinburgh and Nottingham. The acquisitions are due to complete on 10 August . The combined price for the two properties of £21.0m reflects a net initial yield of 6.7% and a reversionary yield, based […]
Lazard World Trust Fund reports decent year as it introduces 6% yield – Lazard World Trust Fund says that, for the year ended March 31 2018, the total return on its net asset value was 20.9%, which compares favourably with its benchmark, the MSCI All Country World Index ex-U.S., which increased 16.5%. A revised dividend policy, effective for […]
Aberdeen Standard European Logistics buys Spanish warehouse –Aberdeen Standard European Logistics Income has signed an agreement to acquire a new logistic warehouse in the North of Spain for a net value of EUR15.3 million. The warehouse is currently under development with completion expected by mid-2019. The property is located in a logistics park near Leon city […]
3i Infrastructure buys Tampnet stake – 3i Infrastructure will invest approximately EUR220 million for the acquisition of a stake in Tampnet AS, the leading independent offshore telecoms network operator in the North Sea and the Gulf of Mexico. 3i Infrastructure is investing in a consortium with Danish pension fund ATP, with each party acquiring up to 50% […]
CIP Merchant Capital turns to Alkemy – CIP Merchant Capital has made an investment in Alkemy SpA, which it describes as a leading company in the innovation of business models for large and medium-sized companies to improve their market position and competitiveness. Alkemy listed on the AIM Italia market of Borsa Italiana in December 2017, raising in […]
