At the AGM held yesterday, Geiger Counter survived a continuation vote despite Saba voting a big block of shares against continuation. [We have been warning investors to be vigilant in cases like these. Voting your shares is vital.] Here is the full report of the meeting: The Chairman of the AGM reports that all ordinary […]
Smithson Investment Trust has published results covering the 12 month period ended 31 December 2024. It was another poor year for returns as the NAV total return of 2.1% fell some way short of the 11.5% return generated by the MSCI World SMID Index. The discount narrowed a bit from 11.5% to 9.1% and that […]
Murray International has published results for the 12 month period ended 31 December 2024. Highlights are: A NAV total return of +8.1% and a share price total return of +4.5%, this compares to a +3.5% rise in the Retail Price Index and a +19.8% increase in the FTSE All World Index. The discount moved out […]
In QuotedData’s morning briefing 6 March 2025: Jupiter Green (JGC) says that holders of 10,584,126 shares opted to rollover into an equivalent open-ended fund while holders of 8,391,654 shares opted to receive cash. In the vote to approve the deal, shareholders voted overwhelmingly to approve the proposals but gave a convincing thumbs down (87.35% against […]
Montanaro UK Smaller Companies (MTU) today announced a £20m buyback, representing around 12% of its outstanding share capital. The announcement follows the introduction of a buyback policy earlier this year, the first since 2008, which has been implemented in order to help manage the company’s discount which currently sits at 7.8%. The significant size of […]
Tetragon Financial Group (TFG) announced its annual results for year end 31 December 2024. The company delivered a NAV total return of 15.4% and a share price total return of 47.8%. The company’s performance was mainly driven by investments in Equitix, Ripple Labs Inc., and funds managed by Hawke’s Point. Firstly, TFG Asset Management’s investment […]
BlackRock World Mining Trust (BRWM) announced its annual report for the year ended 31 December 2024. The company saw a NAV total return fall 10.7% while the share price fell 12.7%. Over the same period, the company’s benchmark index, the MSCI ACWI Metals & Mining 30% Buffer 10/40 Index (net total return), returned -9.9%. The […]
In QuotedData’s morning briefing 5 March 2025: Murray Income Trust (MUT) announced its interim results for the six months to 31 December 2024.The company’s NAV total return was down 2.1% while the share price total return was down 2.4%. Over the same period, the benchmark rose 1.9%. MUT noted that the underperformance was due to […]
The investment management firm abrdn has announced that it is reversing its widely derided rebrand of 2021, which saw it remove the vowels from its name. The firm, which in the past has been known as Aberdeen Standard Life and Aberdeen Asset Management, will now be known as Aberdeen Group. The change was announced with […]
On 12 February 2025, CQS Natural Resources Growth and Income announced the receipt of a requisition served on behalf of Saba Capital Management for a second general meeting of shareholders. Since then, the board has engaged in a series of very constructive discussions with Saba, which has agreed to withdraw the requisition to enable the […]
Apax Global Alpha (APAX) announced its annual results for the year ended 31 December 2024. The company delivered a NAV total return of 0.8% (or 3.0% in constant currency) with negative impacts from the decrease in its private equity portfolio and retail investments weighing on returns. The three core sectors of Tech, Services, and Internet/Consumer […]
Supermarket Income REIT is proposing to internalise its management function, with the board and its current manager Atrato Group reaching agreement on a £19.7m deal. The board said that it believes the move delivers a number of compelling financial and strategic benefits, including: Significant cost savings of at least £4m per annum, equivalent to a yield […]
Warehouse REIT has received an offer for the company from private equity houses Blackstone and Sixth Street Partners valuing the company at around £470m. The consortium said that it made the offer (its fourth indicative all cash proposal) to the board of Warehouse REIT on 23 February 2025. The offer price of 110.5p per share […]
In QuotedData’s morning briefing 4 March 2025: Alternative Income REIT (AIRE) posted a 1.3% uplift in NAV to 81.94p per share in the six months to 31 December 2024. This reflected a 3.4% increase in the value of its portfolio. The company’s share price increased 7.0% over the period, with the discount to NAV narrowing […]
Following the publication of an ‘interim update statement’ this morning (covered in our morning briefing), HICL Infrastructure has announced that it is expanding its share buyback programme by a further £100m (its initial £50m share buyback programme completed last week). HICL says that the programme will commence today and end no later than 31 December […]
Aquila Energy Efficiency Trust (AEET) has agreed to realise its Bio-LNG investment in Germany and the majority of its Italian Superbonus investments for a combined gross consideration of €31.84m. AEET’s board says that it will make a significant distribution to shareholders following receipt of these realisations and that a further announcement will be made in […]
RIT Capital Partners posted a NAV total return of 9.4% in its 2024 annual results, with all three investment pillars – quoted equities, private investments, and uncorrelated strategies – delivering positive returns. Click here to read our result analysis research note and here to watch RCP’s manager Maggie Fanari detail the results. NAV was up […]
Martin Currie Global Portfolio (MNP) has agreed with its manager that, with effect from 1 March 2025, the investment management fee will be amended to 0.40% of net asset value per annum – down from 0.45%. MNP’s chair, Christopher Metcalfe, says “The Board is confident that the new fee level will maintain a competitive ongoing […]
Results season has been a depressingly gloomy affair over the last two or three years for property analysts, but a series of 2024 reports posted this week show that the clouds are parting and the light is starting to peer through for real estate. In the main, 2024 was a very positive year for the […]
BlackRock American Income (BRAI) – formerly BlackRock Sustainable American Income Trust – has announced its results for the year ended 31 October 2024, during which its net asset value per share (NAV) returned 16.0% and the share price returned 13.8%, both underperforming its benchmark, the Russell 1000 Value Index, which it says returned 23.2% (all […]
Riverstone Energy (RSE) has published its annual results for the 12 months ended 31 December 2024. Both sectors of the portfolio saw drops in 2024. The conventional assets decreased in value by US$31m or 12%, and the decarbonisation portfolio decreased in value by US$50m or 44% These downturns in portfolio NAV resulted in a reduction […]
Further to its announcement on 20 December 2024 that it was proposing a managed wind down and return of cash to shareholders, Menhaden resource Efficiency (MHN) has publish a circular in relation to these proposals and is convening a general meeting on 25 March 2025, seeking approval for the trust to be placed into members’ […]
BlackRock American Income (BRAI) has published a circular this morning in which it has announced proposals for a change in investment policy and a tender offer. These proposals are being made in advance of a continuation vote that is due at its AGM this year (separately, BRAI has published its full-year results this morning). Shareholder […]
Tritax Big Box REIT delivered a NAV total return of 9.0% over 2024, its largest annual return since 2021, as the logistics property market rebounds. The company’s EPRA net tangible assets (NTA) were up 4.7% over the year to 185.56p per share, while the company paid dividends of 7.66p (up 4.9% on 2023). These were […]
Scottish Mortgage manager Tom Slater talks with Co-Founder and CEO of Blockchain.com, Peter Smith, on how his company has emerged through the crypto storm in a stronger position. As with any investment, your capital is at risk. A good reputation is always an asset, but its importance is hard to exaggerate in the world of […]
Primary Health Properties (PHP) continues its impressive run of dividend growth and values have hit an “inflexion point”. In annual results for 2024 the company said that adjusted earnings were up 2.9% to 7.0p per share, fully covering its dividend in the year of 6.9p. It intends to up its 2025 dividend to 7.1p – […]
Apax Global Alpha says that it expects to invest approximately €35m in CohnReznick LLP on a look-through basis. This will be through its commitment to the Apax XI Fund which announced on 26 February that it has agreed to invest in CohnReznick, which it describes as one of the leading advisory, assurance, and tax firms […]
In QuotedData’s morning briefing 28 February 2025: JPMorgan Global Growth & Income (JGGI) has published its interim results for the six-months ended 31st December 2024. Highlights from the results include: JGGI provided an NAV total return of 2.7% and a share priced total return of 2.4% – both underperforming its benchmark, the MSCI AC World […]
On 12 February 2025, the board of Schroder UK Mid Cap Fund announced that it had received a requisition notice from a nominee acting on the instructions of Jefferies LLC, a prime broker acting on behalf of Saba Capital Management, L.P. Following a review of the requisition, in conjunction with the company’s registrars and subsequent […]
London office developer Derwent London saw valuations stabilise over 2024 in a boon for the real estate sector. Its portfolio value grew 0.2% over the 12 months to £4,861m, with the final six months of the year seeing a 1.9% increase in values. This contributed to a 0.6% uplift in its EPRA net tangible assets […]
