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 […]
Hansteen and Warehouse REIT talking about a deal – Warehouse REIT has confirmed that it is in discussions regarding the potential acquisition, in partnership with a third party, of a portfolio of industrial assets from Hansteen Holdings PLC, which could constitute a reverse takeover under the AIM Rules for companies. Any potential acquisition could be subject to the […]
Montanaro UK Smaller Companies plans 4% dividend – Montanaro UK Smaller Companies has announced a significant increase in its future dividend distributions. The company intends to pay a regular quarterly dividend equivalent to 1% of the Company’s NAV on the last business day of the preceding financial quarter, being the end of March, June, September and December. The dividends […]
Oryx International Growth reports positive year – Oryx International Growth has reported a 10% increase in its NAV for the year ended 31 March 2018. The board does not propose paying a dividend. The manager reports that “The rise in the net asset value was positively impacted by the takeovers of Quantum Pharma and Servelec at the […]
Artemis Alpha sells Metapack – Artemis Alpha Trust has drawn investors’ attention to an announcement from Stamps.com which has entered into a definitive agreement to acquire the total shares outstanding of Metapack Ltd., an unlisted equity representing 3.1% of the NAV, for cash. The agreed sale price represents a 24.8% uplift to current carrying value. Total proceeds […]
Two new vessels for Tufton Oceanic Assets – Tufton Oceanic Assets (SHIP) has announce that it has agreed to acquire a 75% interest in a LPG carrier for $21.75 million and a 100% interest in a Handysize Bulk Carrier for $10 million. LPG carrier – bareboat charter of seven years. The LPG carrier will have a bareboat […]
Autolus jumps to top position in Woodford Patient Capital Trust Woodford Patient Capital Trust (WPCT)’s stake in Autolus, the UK second generation CAR-T therapy company, rose by six places to top position in the portfolio in June, according to WPCT’s latest factsheet. The rise reflects Autolus’ recent IPO, which was priced at a valuation considerably above […]
Hammerson begins a £300m buyback programme – In its interim results report published today, listed property REIT Hammerson (HMSO) has announced that it has begun a share buyback programme for £300 million. The company confirmed that the programme had begun in a separate announcement released shortly after the interim statement was published. The buyback programme is part of […]
FastForward into Factom and Intensity Therapeutics – FastForward Innovations has advanced US$6 million to Factom, which will be converted into equity at a future date at a 25 percent discount to the price of Factom’s proposed Series B fundraising (terms yet to be announced). In addition, the xompany has the right to invest up to an additional US$9 million, […]
VinaLand sells its last two investments – VinaLand Limited will sell its stakes in both the 196HVT project and the SGPY project. The 196HVT site, which is approved for a future hospitality development, is in Ho Chi Minh City and The SGPY project is a small operating hotel located in Phu Yen. Both projects were acquired by VNL in 2008. VNL will divest […]
Templeton Emerging adds another manager to team – Templeton Emerging Markets Investment Trust has announced that Andrew Ness will be named as a portfolio manager of TEMIT with effect from 17 September, 2018. He will work closely alongside TEMIT’s lead portfolio manager Chetan Sehgal, who continues to serve as director of portfolio management for Global Emerging Markets […]
Hammerson sells Imperial and Fife Central Retail Parks – Hammerson plc has exchanged contracts for the sale of two retail parks, Imperial Retail Park, Bristol and Fife Central Retail Park, Kirkcaldy, for a total consideration of GBP164m to Capreon. This transaction brings Hammerson’s total proceeds from disposals in 2018 to GBP300m. Imperial Retail Park, acquired in 2012 […]
Artemis Alpha writes down URICA – Artemis Alpha Trust says that its NAV has been reduced by 2.2% as a result of an impairment taken to the value of its holding in URICA Ltd, a company operating in the supply chain finance industry. This represents the total amount originally invested in URICA at cost. The managers did not […]
