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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).

29 Mar 2016

JPMorgan Private Equity looking to create realisation shares after a ‘notable period’

JPMorgan Private Equity has announced its interim results for the six-months ended 31 December 2015, a period which the company describes as being ‘notable’. Specifically, proposals were announced to move the management contract to an affiliate of Fortress Investment Group LLC (this transaction was completed after the period-end on 11 March 2016.) The company also […]

Geographies
  • Asia
  • Europe (EU and EEA ex UK)
  • UK
29 Mar 2016

Capital Gearing is seeking authority to issue further ordinary shares

Capital Gearing Trust has announced that, to meet the recent and continuing demand for its shares, its Board of Directors is now seeking an early renewal of its authority to issue further ordinary shares, for cash, on a non pre-emptive basis. Reflecting this, the trust has published a circular convening a general meeting to be […]

Sectors
29 Mar 2016

Mithras announces fifth tender offer

Mithras has announced that, following what it describes as, “a strong start to 2016 in terms of exit proceeds received”, that it is currently preparing for its fifth tender offer. The trust says that this is expected to be for no less than £9.0m and should be completed, including obtaining approvals and receiving tender offer […]

Geographies
  • UK
  • North America
  • Europe (EU and EEA ex UK)
29 Mar 2016

Tritax acquires Argos distribution centre

Tritax Big Box REIT has announced that it has acquired Argos’ National Distribution Centre at Barton Business Park, Burton-upon-Trent, Staffordshire for a purchase price of £74.65m (net of acquisition costs), reflecting a net initial yield of 5.55% on the corporate acquisition. The purchase has been funded from equity proceeds, with senior debt finance expected to be […]

29 Mar 2016

F&C Private Equity benefits from record realisations

F&C Private Equity reports that its net assets at the year-end were £216m giving a fully diluted net asset value (‘NAV’) per Ordinary Share of 295.74p. Taking into account dividends paid during the year which total 11.03p, the NAV total return was 10.7 per cent. This compares to a total return from the FTSE-All-Share Index […]

24 Mar 2016

International Public Partnerships reports record levels of investment

International Public Partnerships has published results for the year ended 31 December 2015. The NAV increased by 2.5% to 130.2p. They have declared a full year 2015 fully covered cash dividends up c.2.5% at 6.45 pence per share and set a minimum target dividend for 2016 financial year of 6.65 pence per share and for 2017 of 6.82 […]

24 Mar 2016

HgCapital announces majority investment in Raet

HgCapital, the manager of HgCapital Trust has announced that it has made a majority investment in Raet, a HR solutions provider that specilises in HR cloud software and services. The terms of this transaction have not been disclosed. HgCapital Trust will invest in Raet alongside other institutional clients of HgCapital, who will participate through the […]

24 Mar 2016

UK Mortgages working on more transactions

UK Mortgages has published its first set of figures, covering he period from its incorporation to the end of December 2015. The net asset value at the end of the period was 97.82p. In early November that the  manager had completed the first purchase of a £310m pool of high quality buy-to-let mortgages from the […]

24 Mar 2016

JPMorgan American suffers from lack of FANG exposure

JPMorgan American has published results for the year ended 31 December 2015. In 2015, the US equity market, as measured by the S&P 500 total return Index in sterling terms, provided a return of 6.9%. In local currency terms, the market was more or less flat, and the gain to investors arose largely from the […]

Sectors
24 Mar 2016

BBGI wants to issue shares at higher than a 5% premium

BBGI SICAV reports a 3.1% increase in its NAV over the year ended 31 December 2015. During the year the Board increased the dividend target. 2015 interim dividend of 3.00 pence per share paid on 29 October 2015 and further dividend of 3.00 pence per share proposed for year ended 31 December 2015, giving total […]

24 Mar 2016

JPMorgan Smaller Companies invests in resurgent UK consumer

JPMorgan Smaller Companies’ interim results covering the six months ended 31 January 2016 show a  total return on net assets before dilution was -3.6% (-2.9% after dilution), which compares with -5.9% for the benchmark index. The return to ordinary shareholders was +0.6%. The manager says the outperformance of the fund over the period was due mainly […]

Sectors
Companies
24 Mar 2016

Tritax Big Box REIT acquires Brake Brothers distribution centre in Portbury, Bristol, for £25.2m

Tritax Big Box REIT has announced that it has acquired Brake Brothers distribution centre at Portbury Way, Portbury, in Bristol for £25.2m, which reflects a net initial yield of 5.15%. The company says that the purchase has been funded out of equity proceeds, with senior debt finance expected to be introduced in the near term. […]

24 Mar 2016

Impax Environmental beats its benchmark in 2015

For the 12 months ended 31 December 2015 the net asset value per share of Impax Environmental Markets achieved a total return of 6.0% and ended the year at 178.6p.   During 2015, IEM’s share price total return was 5.8% and it ended the year at 160p. The directors are recommending a dividend for the year ended […]

Sectors
24 Mar 2016

North American Income achieves 10% dividend growth

North American Income Trust’s net asset value per share rose by 3.2% on a total return basis over the year that ended on 31 January 2016. The reference benchmark, the S&P 500, provided a total return of 5.2% in sterling terms and the Russell 1000 Value, which was incorporated as an additional measurement during the […]

Sectors
23 Mar 2016

BH Macro NAV slips as ECB bet fails to pay off

BH Macro reports a marginal fall in its Sterling NAV over the year ended 31 December 2015 of just under 1% (0.86%). The statement says stronger performance in the first quarter reflected the more active market conditions prevailing at the start of the year: NAV gains were made from the ECB’s move to quantitative easing while avoiding losses […]

23 Mar 2016

BH Global reports fall in NAV

Over the twelve months to 31 December 2015, the Net Asset Value both classes of the shares of BH Global Limited declined modestly over a calendar year for the first time since the company was launched in May 2008. The US Dollar is the functional currency of the company and the NAV per share of the US […]

23 Mar 2016

Alternative Liquidity planning first distribution

Alternative Liquidity Fund has published its first set of figures – interims covering the period from incorporation to the end of December 21015. The company’s NAV has declined and is approximately down 13% since it was listed, with 90% of that decline due to currency mark to market. Assets fell from US$143.7m to $124.5m. Since listing the […]

23 Mar 2016

Highcroft reports 11% NAV uplift

Highcroft Investments reports for the year ended 31 December 2015 its net asset value per share was up 11% to 1026p and its total property income distribution was up 8% to 38.8p per share. Gross property rental income rose 12% to £3,435,000. This growth includes the effect of a full year’s income from the Ash Vale […]

Sectors
22 Mar 2016

Baillie Gifford Japan reports flat NAV

In the six months to 29 February 2016, The Baillie Gifford Japan Trust’s net asset value per share (after deducting borrowings at fair value) increased by 0.1% compared to a 1.0% increase in the TOPIX total return (in sterling terms). In yen terms though the TOPIX was weak, falling around 15% whilst the yen gained […]

Sectors
22 Mar 2016

Woodford Patient Capital suspends fund raising

Woodford Patient Capital has published its first set of results covering the period from incorporation through its launch in April last year and finishing on 31 December 2015. The net asset value of Woodford Patient Capital Trust ended the period at 97.38p per share (cum income), slightly below the issue price of 100p per share. […]

Sectors
22 Mar 2016

SVG Capital makes 9% in 2015 on strong exits

SVG Capital has announced its results for the year ended 31 December 2015. Net assets per share increased by 11% over the 12 months to 654p with the performance driven by a 9% total return on the investment portfolio and further augmented by accretive share buybacks and tenders. 2015 was a good year for exits […]

21 Mar 2016

Not much to report at Kubera

Kubera Cross Border Fund has released results for the year ended 31 December 2015. The value of the Fund’s net assets decreased from US$ 56.90 million to US$ 55.33 million during the year. The Fund’s net asset value has remained fairly constant at around US$ 0.50 between 31 December 2014 and 31 December 2015. The Fund’s share […]

Sectors
21 Mar 2016

LMS Capital NAV flat in 2015

LMS Capital reports that its Net Asset Value per share at the end of 2015 was 92p, a 1% decrease from 93p a year ago. They wrote up the value of 365iTMS and wrote down the value of Nationwide Energy Partners. They say 365 made good progress in 2015 and this is reflected in the […]

21 Mar 2016

GLI investment gets approval from British Business Bank

Funding Options, one of GLI Finance’s investments, has been recommended by the British Business Bank to go forward for designation by HM Treasury for the Bank Referral Scheme. Announced within HM Treasury Budget 2016, businesses that are rejected for finance by high-street banks will be able to access new options, with the Budget announcing that […]

21 Mar 2016

All change again for Jupiter Global

Jupiter Global’s board has decided to seek shareholders’ approval for a change in both the company’s investment strategy and name with effect from the general meeting of shareholders which has been convened for next month. These changes are the subject of a circular which has been posted alongside the Half Year report. This is an important […]

Sectors
Companies
21 Mar 2016

Fundsmith Emerging looking to expand

Fundsmith Emerging Equities has published results for the year ended 31 December 2015. The MSCI Emerging and Frontier Markets Index, measured on a net sterling adjusted basis, fell by 10.0% over the year. The Company’s net asset value per share outperformed the benchmark but fell by 7.0% itself (after expenses). The Company’s share price also fell, […]

Sectors
21 Mar 2016

GLI Alternative Finance says manager changed its name

GLI Alternative Finance announces that GLI Asset Management Limited, its Investment Manager, has changed its name to Amberton Asset Management Limited (“Amberton”).  This follows the change in ownership structure of the Investment Manager as disclosed on 16 February 2016. In addition, Amberton is pleased to announce the appointment of Graham Glass as lead manager to the […]

21 Mar 2016

2015 a great year for Baillie Gifford Shin Nippon

Over the year to the end of January 2016 Baillie Gifford Shin Nippon’s net asset value per share (after deducting borrowings at fair value) rose 25.4%, whilst the comparative index, MSCI Japan Small Cap Index (total return in sterling terms), rose by 10.9% in sterling terms.  The share price increased by 39.6%. The manager says, […]

Sectors
21 Mar 2016

Starwood European wants to introduce longer term gearing

Starwood European Real Estate Finance has published results for the year ended 31 December 2015. The NAV and share price total return in the period were 7.58% and 8.22% respectively. At the year end, the shares were quoted at 107.63 pence per share, being a premium of 7.17% to the net asset value per share of […]

Sectors
18 Mar 2016

JPMorgan US Smaller – good stock selection and US dollar strength

JPMorgan US Smaller Companies has announced its final results for the year ended 31 December 2015. During the period, the company’s NAV increased by 4.0%, which the company says reflects both good stock selection and a rise in the US dollar against sterling. The Company’s share price rose by 6.8% over the year as the […]

Sectors
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