Investment Companies News
Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).
Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).
Reconstruction Capital II has published accounts for the year ended 31 December 2015. On 31 December 2015, Reconstruction Capital II Limited (“RC2”) had a total audited net asset value (“NAV”) of EUR37.4m or EUR0.3736 per share on an undiluted basis, a 1.03% decrease over the year. The fully diluted NAV per share was EUR0.2847, an increase of […]
On 31 July 2015, Global Resources announced that it had extended its accounting period from 31 August to 31 December. The rationale behind this move was to better align the company’s accounting period with those of the majority of its investee companies and also the payment periods attaching to its Convertible Unsecured Loan Stock “CULS”. […]
Rights and Issues Investment Trust has announced proposals for the conversion of Capital Shares to Income Shares and amendments to the Company’s articles of association. The company has issued a Circular to shareholders setting out the proposals which will be put to shareholders for approval in general meeting and at class meetings of the holders of […]
Empiric Student Property has announced that they haves exchanged contracts to acquire, subject to planning, the freehold of a site on Pendennis Rise, Falmouth, at a cost of £2.3 million (excluding fees). The company is in the process of applying for planning permission with the Cornwall County Council for a 287 bed premium student accommodation development […]
3i Infrastructure has today announced two new investments – a €200m investment in TCR, Europe’s largest owner of aircraft ground support equipment and a €5m investment in a PPP backing the regeneration of Hart van Zuid in the Netherlands. 3I Infrastructure will invest approximately €200m, subject to completion adjustments, in TCR, in a consortium with Deutsche […]
Candover Investments has announced the partial realisation of its investment in Technogym S.p.A, which is managed by Arle Capital Partners Limited. The partial realisation follows the initial public offering of Technogym. In the IPO of Technogym, Candover will sell 62.5% of its interest in Technogym for net cash proceeds of £11.7 million. Candover’s remaining interest in Technogym […]
Global Fixed Income Realisation’s results for the year ended 31 December 2015 have been published. The Net Asset Value per ordinary share declined by 28.2% during the financial year 2015. The Directors of the Company decided at a Board Meeting in April 2016 that it was appropriate to take a reserve of 33.3% against the […]
International Public Partnerships Limited has announced that the GoldLinQ consortium will make a further investment into a 7.3km extension to the Gold Coast Light Rail project in Queensland, Australia. The original A$1.29 billion project delivered by the Queensland Government and GoldLinQ saw the development of a 13km light rail system between Gold Coast University Hospital and Broadbeach. […]
Standard Life Investments Property Income Trust has announced that it has entered into an agreement to extend £145m of its existing £155m debt facility with The Royal Bank of Scotland. The debt facility consists of a £110m 7 year term loan and a £35 million 5 year revolving credit facility. The Revolving Credit Facility may, […]
Candover Investments has announced the partial realisation of its investment in leisure park operator, Parques Reunidos, which is managed by Arle Capital Partners Limited. The company says that the partial realisation follows the initial public offering of Parques. In the IPO of Parques, Candover will sell 7.7% of its interest in the company for net […]
The Board of Witan Investment Trust announces that it has agreed in principle with Aviva Investors Global Services Limited (“AIGSL”) as agent acting in its capacity as investment manager for and on behalf of Friends Life Limited, to purchase up to Friends Life’s entire holding of 31,636,753 shares (representing 15.8 per cent. of the issued share […]
VPC Speciality Lending declared cumulative dividends of 4.79 pence per ordinary share and 1.07 pence per C share, and generated a total NAV per share return of 5.80% over the period from its incorporation on 12 January 2015, through its launch on 17 March 2015 and ending on 31 December 2015 on its ordinary shares and 1.78% on the […]
Discounts on European investment trusts have widened as worries over the continent weigh on investors. you can read the full article here
Phoenix Spree Deutschland has published results that cover the year ended 31 December 2015, incorporating the listing of the company on the LSE in June 2015. The statement says, the year to December 2015 demonstrated continuing operational strength. Growth in both rents and property values continued, enabling EPRA NAV to increase by 10.7% for the […]
AcenciA Debt Strategies Ltd, which invests in a highly focused portfolio of multi-strategy credit and event-driven funds, with a focus on distressed debt, has announced its audited results for the year ended 31 December 2015. The Net asset value per share at 31 December 2015 decreased by 6.1% to $1.57 and the share price by 9.2% to […]
International Public Partnerships Limited has announced that the Amber Consortium, of which INPP is part, has reached financial close on the last of the five privately financed batches of schools being delivered through the Priority Schools Building Programme (PSBP). The project uses an innovative financing model based upon the establishment of a funding vehicle known […]
NextEnergy Solar Fund has provided an update for the year ended 31 March 2016, through which it has announced that it is moving to paying quarterly dividends. Going forward, the Company will now pay dividends to shareholders on a quarterly basis, starting from the first quarter of the Company’s current financial year (the year ending […]
Empiric Student Property has announced that it has acquired a site, on a 199 year lease, and entered into a forward funding arrangement in relation to a development in Portsmouth, known as Europa House (pictured). The company say that the project comprises a 242 bed redevelopment to create a new premium student accommodation scheme, for […]
Baker Steel Resources Trust has provided an update on its intention to increase its ownership in Polar Silver Resources Limited. Polar Silver Resources is the trust’s largest investment (25.8% of net assets as at 31 March 2016). It is a private limited company, incorporated in the British Virgin Islands, which owns 100% of ZAO Argentum. […]
ICG-Longbow Senior Secured UK Property Debt Investments has announced its annual results for the year ended 31 January 2016. In terms of income, the company says that revenue for the year fell slightly to £8.4m (31 January 2015: £9.2m) as the exit and prepayment fees earned in the prior year were not repeated given the […]
Chelverton Growth Trust’s half year results for the six months ended 29 February 2016 show its Net Asset Value per share rising by 4.1% from 54.95p to 57.21p. This compares favourably to its benchmark indices, the AIM All-share index and the MSCI Small Cap UK, which declined by 5.1% and 2.7% respectively. The share price increased by […]
Fidelity Special Values says its net asset value underperformed the benchmark over the six month reporting period to 29 February 2016, returning -2.7% against -1.2% for the FTSE All-Share Index. The return to shareholders was -3.9%. Alex Wright, the manager, says overall performance was impacted by negative investment surrounding some key holdings in the banking sector, […]
The Board of Phaunos Timber announces the sale of its 14% stake in Green Resources AS for NOK 69.9 million (US$8.5 million at USD:NOK 8.2). The sale is consistent with Phaunos’ strategy of rebalancing its portfolio to one that comprises predominantly higher yielding, lower risk assets. The sale follows the recent distribution received from the […]
Despite a difficult environment Henderson International Income has generated good growth in net assets and increased shareholders’ dividend distributions. During the six months to 29 February 2016 the return on the net asset value per ordinary share (on a total return basis) was 7.8%. The company’s return on the ordinary share price (on the same basis) […]
During the year to 29 February 2016, BlackRock Smaller Companies’ net asset value increased by 4.0% to 992.18p per share, compared with its benchmark, the Numis Smaller Companies plus AIM (excluding Investment Companies) Index, which fell by 4.4%. The company’s share price increased by 6.3% to 863.00p per share. Small capitalisation stocks outperformed mid and large […]
NB Distressed Debt has announced results for the year ended 31 December 2015. NBDD’s NAV per share decreased 10.7% during the year, to $1.1184 from $1.2521 per share, compared to a drop of 8% in the HFRI Distressed/Restructuring Index and a drop of 43% in the defaulted loans segment of the S&P/LSTA Index. Similarly the Extended […]
Subject to prior approval from the Financial Conduct Authority, Scottish Mortgage intends to seek shareholders’ approval, at the Annual General Meeting on 30 June, to amend the company’s investment policy to stipulate that the maximum amount which may be invested in companies not listed on a public market shall not exceed 25 per cent of […]
Randgold Resources’ 89%-owned Tongon gold mine, in Côte d’Ivoire, has commissioned its fourth-stage crushing circuit, completing an extensive capital project designed to improve throughput and recovery. The new circuit is currently being optimised. 2015 gold production at Tongon was 243 koz, up 7% on 2014, and the company is targeting production of 290 koz this […]
Witan Pacific’s results for the year ended 31 January 2016 show it managing to outperform its benchmark, the MSCI All Country Asia Pacific Index, by a little – the NAV return for the fund was -5.6% against -5.9% for the index. Shareholders did better than this though with a return of -3.5% as the discount narrowed […]
Empiric Student Property has acquired the long leasehold (999 years from March 2007) of a 561 bed scheme in Manchester for £29.5m. Victoria Point, Manchester was constructed in 2009 by the vendor as a private residential scheme comprising apartments and duplexes across six separate blocks of accommodation on a 3.5 acre site. The property has […]
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