Atlantis Japan has another great year – Atlantis Japan Growth Fund has published results for the year ended 30 April 2018. The NAV per share increased by 38.8% compared to an increase of 13.5% for the TOPIX in GBP. Aided by this strong NAV performance, the market capitalisation has now increased to over GBP110m. The discount was 9.6% on […]
NextEnergy Solar adds 10 solar plants to its portfolio – and adds a new revolving credit facility of £40.0 million with Santander. As part of its ongoing growth programme, NextEnergy Solar Fund (NESF) has acquired ten operating solar plants with a total installed capacity of 66.8 MWp in the West Country. The aquisition was done by way of a share […]
Fidelity Special Values lowers its fees – The board of Fidelity Special Values (FSV) has followed other companies in the Fidelity Investment trust stable by arranging with Fidelity, the investment manager, a lower new tiered fee structure. Fidelity European Values was the first to announce its lower fee in March 2018. Fidelity Japanese Values and Fidelity China Special Situations announced the same in […]
Investment Trust Insider on recent new issues – James Carthew: can Ashoka overcome a disappointing launch? It has been a week of contrasts in the new issue market. Tritax EuroBox (BOXE) raised its maximum target of £300 million in an issue that was ‘significantly oversubscribed’ and Hipgnosis Songs Fund (SONG) raised over £200 million. Whereas […]
Henderson Diversified Income produces modest NAV return – Henderson Diversified Income Trust has published results for the year ended 30 April 2018. The net asset value total return per ordinary share for the year ended 30 April 2018 was 1.8% whilst the share price total return per ordinary share was 4.4% reflecting a widening in […]
RESI becomes a Registered Provider – Residential Secure Income (ReSI), which was set up to invest in the residential asset classes that comprise the stock of UK social housing providers, has announced that itI, through its wholly owned subsidiary ReSI Housing Limited, has become the first publicly listed investment fund to become a Registered Provider with the […]
Better Capital deal lapses – Further to the announcement of 25 June 2018 about the proposed sale of Northern Aerospace (NAL), BECAP 12 GP Limited (the GP) has informed Better Capital PCC Limited that: “Permission to complete the sale was not obtained from the Competition and Markets Authority by the revised contractual deadline, despite requests […]
FastForward NAV jumps – FastForward Innovations has published results for the year ended 31 March 2018. Highlights: Net assets of GBP13,534,000 (2017: net assets of GBP10,101,000). NAV per share increased by a third from 7.60p to 10.18p. Three new investments in the year, including a significant investment in a Canadian medical cannabis business Successful sale of the […]
John Laing Environmental adds two anaerobic digestion plants – John Laing Environmental Assets has announced the acquisition of two anaerobic digestion (AD) assets, Egmere Energy Limited and Grange Farm Energy Limited, for a total consideration of c.GBP36 million. The Egmere Energy AD plant is located in Egmere, North Norfolk and was commissioned in November 2014. […]
Key trust holding Biogen claims rare Alzheimer’s trial success Trust favourite Biogen saw its stock rise by 20% on Friday, after reporting a surprise apparently positive result from a Phase II study with the anti-amyloid beta protofibril antibody BAN-2401 in the notoriously tough indication of Alzheimer’s disease. However, the share price boost to Biogen probably reflects the implied […]
Oakley Capital selling Damovo – Oakley Capital Investments Limited says that Oakley Capital Private Equity II has reached an agreement to sell its stake in Damovo Group, a leading independent European unified communications and collaboration company, to Eli Global. The transaction, which is subject to regulatory approval, values Damovo at up to EUR140 million, comprising an […]
Standard Life Investments Property Income makes three acquisitions – Standard Life Investments Property Income Trust has completed three purchases for a total of GBP32.48m. The largest of the three assets is a Tier 3 Data Centre in Birmingham, let to a major operator for a term of 20 years, subject to a tenant only lease break […]
Autolus IPO boosts WPCT to top of specialist trust league in June The Nasdaq float of Autolus, one its top ten investee companies, boosted Woodford Patient Capital Trust (WPCT) to top position in the performance league table of biotech/healthcare specialist investment trusts for the month of June, both in terms of price and NAV total return. […]
UK Commercial Property REIT swaps Bristol office for Reading – UK Commercial Property REIT has bought the White Building, a multi-let office asset on King’s Road in Reading and sold 1 Rivergate, an office building on Temple Quay in Bristol city centre. The White Building The White Building was acquired from Boultbee Brooks Real Estate […]
Workspace sells Marshgate Business Centre – Workspace Group has exchanged contracts for the disposal of a mixed-use redevelopment of Marshgate Business Centre in Stratford, E15. The redevelopment, comprising 200 residential units, has been sold for GBP15m in cash and the return of a new 33,000 sq. ft. business centre. The sale price is in line […]
Empiric Student Property on track to cover dividend in 2019 – Empiric Student Property has published update on trading ahead of the Company’s half year results for the six months ended 30 June 2018 (which will be announced on Tuesday, 21 August 2018). They says that they continue to make good progress on delivering financial and […]
Invesco Income Growth is a new dividend hero – Invesco Income Growth says that its total return on net asset value for the year to 31 March 2018 was -3.9%, compared with an equivalent All-Share Index return of +1.2%. The Income Growth sector has been out of favour with investors, so that discounts in the sector have widened, […]
TwentyFour Income says not enough opportunity to justify expanding the fund – TwentyFour Income Fund Limited says that, for the year ended 31 March 2018, its NAV per share rose 10.35% (including dividends). They declared three interim dividends of 1.5p and a final of 2.73p. The share price edged up to 119.5p from 119.25p, finishing […]
Alcentra favouring Europe – Alcentra European Floating Rate Income Fund‘s results for the year ended 31 March 2018 show that it delivered an NAV uplift from 104.14p as at 31 March 2017 to 104.55p as at 31 March 2018. Including dividends, the fund delivered an NAV total return of 5.0% and a share price total return of 0.9%. The company […]
Investment Trust Insider on Hadrian’s Wall Secured Lending James Carthew: Can Hadrian’s Wall take on Funding Circle? Funding Circle SME Income Fund (FCIF)’s premium has taken a bit of a knock after its board indicated that its dividend will be cut later this year. The fund had paid quarterly dividends at a run rate of […]
Middlefield Canadian Income celebrates Enbridge pipeline approval – Middlefield Canadian Income PCC is highlighting a positive update on Enbridge Inc. (TSX: ENB, NYSE: ENB), which is currently the largest portfolio holding (approximately 5% of the fund). On 28 June 2018, Enbridge announced that it was granted approval from the State of Minnesota’s Public Utility Commission for Enbridge’s […]
Phaunos receives cash offer from Stafford Capital Partners – Further to the announcement by Stafford Capital Partners (click here to read more) on 5 June 2018 setting out the key financial terms of a possible offer for Phaunos Timber Fund Limited (PTF), Stafford has announced its proposed all-cash offer. Phaunos receives cash offer from Stafford Capital Partners The offer is […]
LondonMetric Property swaps M&S for Lidl – LondonMetric Property has sold two M&S convenience stores for GBP10.7 million, reflecting a NIY of 4.5%, and purchased a convenience development in Durham pre-let to Lidl for GBP13.3 million, reflecting a yield on cost of 5.4%. The two M&S stores that have been sold were purchased by LondonMetric […]
Residential Secure Income REIT patience required – Residential Secure Income REIT has announced its first results, these cover the period from launch in July 2107 to 31 March 2018. In the period under review they acquired 1,341 residential units located across England, Wales and Scotland. All of these units are used to provide age-restricted retirement housing and are […]
Regional REIT sells industrial portfolio – Regional REIT, the UK regional office and industrial property focused real estate investment trust, today announces it has exchanged and completed on the disposal of an industrial property portfolio for GBP39.1m. This reflects a net initial yield of 6.9%. The sold industrial portfolio comprised of 15 industrial property assets, […]
BioPharma Credit makes new loan to TESARO – BioPharma Credit has funded, together with other investors, the US$200m second tranche of the aggregate US$500m loan to TESARO, Inc. that was announced on 21 November 2017. BioPharma Credit funded US$100m and assigned its remaining US$48m second tranche commitment to other investors, resulting in a total investment in […]
Montanaro European Smaller benefits from narrowing discount – the net asset value of Montanaro European Smaller Companies Trust rose by 10.8% to 901.1p per share over the year to the end of March 2018. The share price did even better – rising by 15.1% to 800.0p, as the discount narrowed from 14.5% to 11.2%. The fund’s […]
Polar Capital investee Novartis confirms Alcon spin-off Novartis shares have risen by 4% today in response to news that it will conduct a 100% spin off next year of its Alcon eye-care unit into a separately traded company listed in Switzerland and the US. The move, which comes after a strategic review of the long […]
Trust favourite Celgene claims win in Medalist trial US biotech and specialist trust favourite Celgene (Nasdaq: CELG) has reported a positive result in a closely-watched Phase III trial that was being seen as a key step necessary in its rehabilitation with investors. The trial was of the drug candidate luspatercept for treatment of anaemia associated with a type […]
BBGI invests in Canadian hospital – BBGI SICAV S.A. says that it has now completed its investment in the McGill University Health Centre, an investment made through the existing strategic partnership between it and SNC-Lavalin Group Inc. (that was announced last year). The asset, as described below, is classified as availability-based under the investment policy of the […]
