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15 Nov 2016

UIL, Industrial Multi Property Third Quarter Winners – QuotedData

LONDON (Alliance News) – The best performer in both price and net asset value terms in the third quarter was UIL Ltd, boosted by its largest investment, Australian-listed Resolute Mining Ltd, which benefited from a strong gold price. Industrial Multi Property Trust PLC and Kubera-Cross Border Fund Ltd both saw recoveries in their share price […]

15 Nov 2016

Northern Investors plans £6m distribution

Northern Investors’ NAV rose 6.3% from 685.4p to 728.6p over the six months ended 30 September 2016. The share price rose by 33% to 845p, putting the shares on a premium of 16%. Including funds distributed through the March 2016 tender offer (GBP15.3 million) and the July 2016 dividend (GBP0.6 million), the total cash returned to […]

14 Nov 2016

Serabi Gold record Q3 production and profit

Serabi Gold (SRB:AIM) (SBI-CN) In the quarter the company was able to achieve record production, reduce debt and dramatically increase profit for the nine months ended September 30, 2016. The company achieved record Q3 2016 gold production of 10,233 oz, compared to 9,896 in Q2 2016. The addition of a third ball mill, a second flotation […]

14 Nov 2016

Capital Gearing benefits from private equity exposure

As at the half year to 5 October 2016, Capital Gearing Trust’s net asset value per share was 3,647.0p compared to 3,382.0p as at the last year end on 5 April 2016, an increase of 7.8%. This compares with increases of 15.6% in the MSCI UK and of 17.9% in the sterling MSCI World Index.  RPI […]

14 Nov 2016

Gabelli Value Plus+ discount narrows

Gabelli Value Plus+ says that, over the six months ended 30 September 2016, a moderate rise of 6.4% in the S&P 500 Index was boosted by the pound’s weakness to a 18.1% return in sterling terms. The NAV total return, which was 17.2% during the period, slightly lagged this index. The share price total return during […]

14 Nov 2016

Why Neil Woodford is celebrating a Trump victory

I don’t know whether fund management legend Neil Woodford was in favour of Trump or Clinton, or wished a plague on both their houses, and nor do I care (writes Harvey Jones of Motley Fool). However, Donald Trump’s shock victory has given Mr Woodford something to celebrate, by applying much-needed balm to his Achilles’ heel. read more […]

14 Nov 2016

Target buys Nottinghamshire care home

Target Healthcare REIT Limited has exchanged contracts to acquire a purpose-built care home located in the town of Sutton-in-Ashfield, Nottinghamshire.  The home will be acquired for approximately GBP5.6 million including acquisition costs. The transaction is expected to conclude by April 2017 once the build has been completed and the home has been fitted out to specifications. […]

14 Nov 2016

NextEnergy Solar plans £104m share issue

NextEnergy Solar hopes to double in size and, as a first step, it is planning a £104m share issue. At 30 September 2016, NextEnergy Solar had net assets of £350.1m (up from £283.1m at 30 June 2016) and the NAV per share had increased from 98.7p to 100.4p over that period. They expect to publish […]

14 Nov 2016

Caledonia Mining’s quarterly EPS up 59%

Caledonia Mining has reported adjusted EPS of US4.4c for Q3 16, a 59% increase on Q3 15, taking EPS for the year to date to US13.0c, from US7.2c in 2015. The improved performance comes on the back of a 23% increase year-on-year in gold production at the Blanket mine to 13.4koz, taking the total for […]

14 Nov 2016

Jubilee Platinum sees improvement in gross profit for 2016

Jubilee Platinum Plc (JLP:AIM) Released results for the year ended 30 June 2016. Loss for the year was 3.67m vs 3.44m for 2015. Total comprehensive 2016 loss improved to (£1m) vs loss of (£7.94m) in 2015; due to exchange rate differentials on foreign operations.  There was an improvement in gross profit at 865k vs 23k […]

14 Nov 2016

Funding Circle hopes to expand

Funding Circle SME Income Fund has published a set of accounts covering the period from 1 April 2016 to 30 September 2016. At the end of the period, the NAV was 99.64p, the share price 102.5p and the shares were trading at a  premium of 2.9%. They say that the company has successfully deployed GBP151.9 million […]

11 Nov 2016

British Empire returns 31.0% beating its benchmark

British Empire Trust has announced its annual results for the year ended 30 September 2016. The company says that, during the period, its NAV total return per share was 31.0%, its benchmark return was 28.0% (the MSCI All Country World ex-US Index), whilst its share price total return was 34.3%, reflecting a narrowing of the […]

11 Nov 2016

Oakley Capital Investments increases its commitment to Fund III to €325m

Oakley Capital Investments Limited has announced that it has increased its commitment to Oakley Capital Private Equity III (Fund III), the successor fund to Oakley Capital Private Equity II (Fund II) by €75 million, taking its total commitment to Fund III to €325 million. Oakley Capital Investments Limited originally announced its commitment to Fund III […]

11 Nov 2016

Henderson Far East Income held back by technology underweight

Henderson Far East Income’s NAV just underperformed its benchmark by 2.2% over the year ended 31 August 2016. The net asset value total return was 32.1% whilst the share price total return was 33.4%. In local currency terms, the markets returned 11.3% highlighting the significance of the weakness of sterling pre and post the UK’s vote […]

10 Nov 2016

Gem Diamonds stays on track, Q3 update.

Gem Diamonds Limited (GEMD:LSE) The company is on track to achieve full year production guidance at Letšeng, despite extreme weather disruptions. In Q3 2016: 24,388 carats were recovered at Letšeng, compared to 28,682 carats in Q2 2016. The weather conditions restricted access to the pits, therefore ore was sourced from surface stockpiles which resulted in a reduction […]

10 Nov 2016

M&G High Income rollover into JPMorgan Elect

As M&G High Income nears the maturity date of its zero dividend preference shares (in March 2017), its board has been considering its future. Today they have announced that they intend to put forward proposals for a reconstruction of the company. They’ll publish more detailed proposals early in 2017. Closed-ended rollover into JPMorgan Elect Conscious […]

10 Nov 2016

Ariana Resources completes Tavsan scoping study, pre-tax IRR 80%

Ariana Resources Plc (AAU:AIM) The completion of a scoping study for the Tavsan Project in Turkey reveals excellent results. Tavsan is part of the Red Rabbit JV with Proccea Construction Co. and will be 50% owned by Ariana once mine construction at the Kiziltepe Sector is completed in Q4 2016. The Tavsan project is planned to be […]

09 Nov 2016

Better Capital 2012 NAV may fall by 14%

The Board of Better Capital PCC Limited  has received an update from the General Partner of the Better Capital Funds ahead of the release of the Interim Report to 30 September 2016.  2012 Cell NAV may fall by 14% Everest is expected to close FY16 with positive EBITDA better than prior year albeit, significantly below […]

09 Nov 2016

Workspace NAV barely moves but interim dividend up 40%

Workspace’s EPRA net asset value per share was down 0.9% over the six months ended 30 September 2016, falling from 923p to 915p. Adjusted underlying earnings per share rose 15.2% to 14.4p as net rental income was up 6% to £38.0m. The interim dividend has been upped by 40% to 6.8p. Net initial yields shifted from 5% […]

08 Nov 2016

JPMorgan Japan Smaller lags benchmark by 8.4%

JPMorgan Japan Smaller Companies Trust reports that its NAV return for the half year ended 30th September 2016, was 14.1% (15.4% adjusting for the effect of the subscription shares), versus 22.5% for the benchmark. The share price total return was 16.5%. The Board was notified during the period of Naohiro Ozawa’s decision to resign from […]

08 Nov 2016

Woodford trust falls into worst performers list in October

The £733m Woodford Patient Capital trust appeared in the top ten worst performing funds in NAV terms in October according to the latest research from investment company analysts QuotedData. The trust, ran by star manager Neil Woodford, was down 5.1% for the month, making it the fifth worst performing fund in NAV terms in the […]

08 Nov 2016

Henderson International Income charges fallling

Henderson International Income Trust very marginally underperformed its benchmark over the year to 31 August 2016. The total return on the net asset value was 26.9%. The return on the ordinary share price was 24.0%. These returns compare to a total return of 27.2% in the MSCI World (ex UK) Index (sterling adjusted). They also announced a dividend […]

08 Nov 2016

Savannah – initial heavy mineral sands resource defined.

Savannah Resources Plc (SAV:AIM) Announces an initial resource estimation on the Jangamo and Dongane deposits which form part of the Mutamba project in Mozambique. Savannah currently holds a 10% interest in the Mutamba project with partner Rio Tinto and has the right to earn 51% upon completion of key milestones. CEO, David Archer said: “Savannah believes that […]

08 Nov 2016

HgCapital Trust to contribute £3.7m to an investment in Evaluate Group

HgCapital, the Manager of HgCapital Trust has announced that is has made an investment in Evaluate Group, a London-headquartered provider of commercial intelligence to the global life sciences industry. The terms of this transaction have not been disclosed. HgCapital Trust plc will invest in Evaluate, alongside other institutional clients of HgCapital, who will participate through […]

08 Nov 2016

Electra Private Equity proposes to return up to £200m via a tender offer

Electra Private Equity has announced proposals to return up to £200m to shareholders via a tender offer. The company says that Morgan Stanley & Co. International plc or to act as principal and a circular dated 8 November 2016, containing the full terms and conditions, together with a Tender Form and details of a General […]

07 Nov 2016

Fair Oaks will launch new master fund

The commitment period of FOIF LP (the “Master Fund”) in which Fair Oaks Income Fund is invested ended in June 2016. The Company has subsequently introduced a redemption mechanism to return to Shareholders capital realised from the Master Fund and has made its first distribution under that mechanism. Fair Oaks Capital Limited, the Company’s investment […]

07 Nov 2016

Fidelity Special Values just fails to keep pace with benchmark

Fidelity Special Values just failed to keep pace with its benchmark over the year to 31 August 2016, delivering a NAV return of 9.9% against 11.7% for the index. The total dividend for the year is 3.7p, 10.4% higher than last year. The discount widened from 2.0% at the start of the reporting year to 10.0% […]

07 Nov 2016

Scottish Mortgage bets on the strong getting stronger

Over the six months to the end of September, both Scottish Mortgage’s net asset value (NAV) and price per share rose by 25% on a total return basis; for context, the FTSE All World Index rose by 18% over the same period.  All three of these figures were favourably influenced by the falls in the pound against […]

07 Nov 2016

BACIT to become a life sciences company

BACIT plans to expand its investment policy and grow its assets under management with a couple of deals. This will nudge the fund towards becoming more of a life sciences company. BACIT is hoping to acquire Syncona LLP, a limited partnership vehicle founded by Wellcome Trust. this has an existing portfolio of life science investments. The […]

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