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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).

28 Sep 2023
the foyer of oxford john radcliffe hospital

HICL Infrastructure sells £200m of assets to John Laing

HICL Infrastructure has agreed to dispose of a portfolio of five assets to John Laing. The portfolio is made up of HICL’s entire equity interest in four UK PPP projects; Queens (Romford) Hospital, Oxford John Radcliffe Hospital (“OJR”), Priority Schools North East Batch and South Ayrshire Schools, in addition to half of its investment in […]

Sectors
28 Sep 2023
digital9 infrastructure logo

Digital 9 will not pay a dividend for Q2 2023

Digital 9 Infrastructure says that its board has elected to not declare its Q2 2023 dividend. Higher interest rates and the inability to raise fresh equity have put pressure on its liquidity. At 30 June 2023, the Group had about £47m of unrestricted cash available and £18.8m remaining undrawn from its £375m revolving credit facility […]

Sectors
28 Sep 2023
a hand holding an LED lightbulb

Triple Point Energy Transition provides finance for LED lighting

Triple Point Energy Transition has announced the provision of a £2.3m receivables financing facility to Boxed Light Services Limited. Boxed installs efficient Light Emitting Diode (LED) lights and controls at Places for People Homes Limited sites. The facility provides receivables financing across 54 sites, with repayments including a fixed rate of interest being paid to […]

28 Sep 2023
ThomasLloyd Energy Impact logo 230606 TLEI

ThomasLloyd Energy Impact picks Octopus as new manager

ThomasLloyd Energy Impact has selected Octopus Energy Generation as its transitional investment manager. Heads of terms have been agreed between the company’s AIFM, Adepa Asset Management S.A. and Octopus Renewables Limited for Octopus Energy Generation to be appointed. The board received proposals from, and conducted detailed discussions with, a number of experienced investment managers. Octopus Energy […]

28 Sep 2023
a white and orange mug with hello written on it next to an iphone

QuotedData’s morning briefing 28 September 2023 – BRGE, USF, RSE, AERI, ASLI, UKCM, SERE

In QuotedData’s morning briefing 28 September 2023: BlackRock Greater Europe (BRGE) says that Alexandra Dangoor is being made co-portfolio manager, alongside lead manager Stefan Gries. The effective date for this appointment will be from close of business on 29 September 2023. Alexandra joined the BlackRock Fundamental European Equity Team in 2019 after two years in […]

Companies
27 Sep 2023
Baillie Gifford UK Growth BGUK

Strategic Equity Capital shows strong performance against a weak UK market

Strategic Equity Capital (SEC) released its annual results today, for the period ending 30 June 2023. Over the 12 months SEC reported a NAV total return of 9.2%, and a share price total return of 11.2%. This compares to the (0.4%) loss of its comparative index, the FTSE Small Cap (ex Investment Trusts). SEC’s management […]

Sectors
27 Sep 2023
230214 ACIC China

JPMorgan Emerging Markets stays positive against a declining emerging market

JPMorgan Emerging Markets Investment Trust (JMG) reported its annual results for the year ending June 2023. JMG reported a NAV total return of 0.8%, ahead of its benchmark, the MSCI Emerging Markets Index, which reported a loss of (2.8%) over the same period. Stock selection was the largest contributor to JMG’s returns, adding 4.0%, with […]

Sectors
27 Sep 2023
Polar Capital Global Financials Trust - Don’t fear a slowing economy

JPMorgan Global Growth and Income soars past its benchmark

JPMorgan Global Growth and Income (JGGI) has released the annual results for its financial year ending 30 June 2023. JGGI generated a NAV total return of 19.1% and share price total return of 22.2%, easily outperforming its benchmark, the MSCI ACWI, which generated a 11.3% return for the same period. JGGI’s outperformance was broad based, […]

27 Sep 2023

QuotedData’s morning briefing 27 September 2023

In QuotedData’s morning briefing 27 September 2023: Cordiant Digital Infrastructure (CORD) has announced that it has received regulatory approval for its acquisition of Speed Fibre Group and expects the transaction to close later this year. Taylor Maritime Investments (TMI) has announced that it has refinanced its debt facility, and has made a loan repayment of […]

27 Sep 2023
Phoenix Spree Deutschland

Phoenix Spree Deutschland to accelerate condominium sales

Phoenix Spree Deutschland (PSDL), which owns a large portfolio of rental properties in Berlin, has accelerated plans for future condominium sales, reflecting the wide discrepancy between values it has been achieving and its share price. Over the past 12 months, the company has achieved sales prices, on average, of €5,545 per square metre, while the […]

Sectors
26 Sep 2023
five circular pictures depicting the five investment focuses of Symphony International - education, healthcare, hospitality, lifestyle and new economy

Symphony International joins queue for the exit

Asian private equity fund Symphony International becomes the latest fund to adopt an orderly realisation strategy. Symphony says that, further to a strategic review by its board of directors, it has adopted an updated strategy, being an orderly realisation of its investments with a view to maximising return on investment for Symphony’s shareholders. Symphony has […]

26 Sep 2023
a large bulk carrier sailing towards the bottom left of the picture

Taylor Maritime extracts further economies of scale from Grindrod investment

Taylor Maritime Investments has sold its commercial and technical managers to its subsidiaries Grindrod Shipping Holdings and Grindrod Shipping Pte. Ltd. The subsidiaries have agreed to acquire each of Taylor Maritime Management Limited (TMML) from Taylor Maritime Group Limited and Tamar Ship Management Limited (Tamar) from Taylor Maritime Group Limited and Temeraire Holding (MI) Limited. […]

26 Sep 2023
side view of a container ship on a calm sea

Tufton results reflect weaker ship values

Tufton Oceanic Assets has published results covering the 12 months ended 30 June 2023. The NAV fell to $1.365 from $1.450, negatively impacted by the fall in capital values of bulkers and of Riposte, the containership which was sold during the financial year. The operating profit was $56.3m, up from $40.3m, however. From Q4 2022, […]

26 Sep 2023
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 26 September 2023

In QuotedData’s morning briefing 26 September 2023: ICG Longbow (LBOW) says it has appointed a receiver over the property securing its Affinity loan. This gives it more control over the sale of this property. Rent is still being collected, covering the interest owed to the fund. Elsewhere in the portfolio, the sale of a hotel […]

Companies
26 Sep 2023
UIL ZDP 2022 : UTLF

Gearing weighs on UIL’s performance

UIL Limited (ULT) announced its annual results for the year ending 30 June 2023: ULT reported a negative NAV total return of (20.6%) for the twelve months, and share price total return of (18.5%). ULT’s discount was 27.5% as of end June 2023, compared to 28.1% the year prior. ULT performance can be in part […]

25 Sep 2023
230714 GIF

Gulf Investment Fund generates very impressive outperformance

Gulf Investment Fund (GIF) has released its annual results for the period ending 30 June 2023. Over the 12 month period GIF has generated substantial outperformance relative to its benchmark, the S&P GCC Composite Index. GIF generated a NAV total return of 20.4% and share price return of 18.8%, compared the the negative (1.3%) return […]

Sectors
25 Sep 2023

QuotedData’s morning briefing 25 September 2023

In QuotedData’s morning briefing 25 September 2023: Round Hill Music (RHM) has announced the publication of a scheme document which outlines the actions required, timetable, and recommendations in respect of the purchase offer made for the trust. Shareholders will be given the opportunity to vote on the offer at a General Meeting to be held […]

Companies
22 Sep 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news update 22nd September 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • HICL Infrastructure (0:25) • GCP Infrastructure/GCP Asset Backed Income (2:24) • HydrogenOne Capital Growth (7:46) • Nippon Active Value (12:00) • Pollen Street (13:22) […]

Sectors
Companies
22 Sep 2023
230922 lehman

QD view – Lehman terms

A milestone was passed very recently without much fanfare. 15 September 2023 marked the 15th anniversary of the collapse of Lehman Brothers, a vanquished titan of American finance, an event which precipitated the 2008 global financial crisis, the most significant downturn since the great depression of the 1930s. While the societal consequence of the crisis […]

Companies
22 Sep 2023

EOT’s annual results are positive, albeit shy of the market

European Opportunities Trust (EOT) has released its annual report for the financial year ending 31 May 2023. Over the 12 month period EOT reported a NAV total return of 3.3% and share price total return of 5.0%, this represents an underperformance versus its benchmark, the MSCI Europe Index, which returned 6.9%. This underperformance can be […]

Sectors
22 Sep 2023
home reit logo over a picture of a residential street

Home REIT reassigns leases on 146 properties

Home REIT has reassigned the leases at 146 properties that had formerly been occupied by Redemption Project CIC, which went bust earlier this month. Home REIT will now hope to receive rent on the portfolio of properties (which equates to 6% of its portfolio by number) having not been paid by Redemption for the whole […]

Sectors
21 Sep 2023
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 21 September 2023 – JARA, GIF, NAVF

In QuotedData’s morning briefing 21 September 2023: JPMorgan Global Core Real Assets (JARA) has provided a quarterly NAV valuation. As of 31 August 2023 the NAV per share of the trust was 95.37p per share, reflecting a negative total return of (2.0%) for the quarter and (8.0%) for the 12 month period. Gulf Investment Fund […]

Companies
20 Sep 2023
230911 london skyline

City of London falls short of market in 2023

City of London Investment Trust (CTY) announced its annual results for the period ended 30 June 2023. The company’s NAV total return for the period was 4.5%, which compares with a total return of 7.9% for the FTSE All-Share Index. Shares were flat for the year while dividends increased by 2.5%. The adviser noted that […]

20 Sep 2023

Solid year for Murray in the face of macro volatility

Murray Income Trust (MUT) announced its annual results for the year ended June 30 2023 which also marked the 100th anniversary for the fund. NAV per share total return was +8.8%, ahead of the FTSE All-Share Index at +7.9% but the share price total return was +4.9% as the discount widened to 8.4% at the […]

20 Sep 2023

Resilience despite challenging year for Supermarket Income REIT

Supermarket Income REIT (SUPR) announced its annual results for the year ended June 30 2023. The company saw resilient financial performance with strong income growth despite a 19% fall in EPRA net tangible assets (NTA) in the year to 30 June 2023. With dividends, this equates to a 16% fall in NAV for the year […]

Sectors
20 Sep 2023

KCR remains stable despite rising cost pressures

KCR Residential REIT (KCR) announced its final results for the year ended 30 June 2023. NAV per share fell 1% over the course of the year. Revenue for the financial year increased by 23.01% (to £1.58 million up from £1.28 million in 2022) – largely underpinned by the ongoing performance of Coleherne Road and the […]

20 Sep 2023

HGEN sees progress despite share performance

HydrogenOne Capital Growth (HGEN) has announced its half yearly report for the period ended June 30 2023. NAV increased by 3.4% from £125.4 million at 31 December 2022 to £129.7 million at 30 June 2023. The share price has declined by 19.7% in the same period. The company’s current discount sits at 47%. Despite the […]

20 Sep 2023

GRIT continues to seek reverse takeover

GRIT Investment Trust (GRIT) has announced its results for the six months ended 30 June 2023. The company’s NAV fell 29% over the period while shares fell 51.8%. Commenting on the results, Chairman Richard Lockwood noted: “The last six months have seen a continued increase in interest rates and high inflation in the UK. The […]

Sectors
20 Sep 2023
a coffee cup next to an alarm clock

QuotedData’s morning briefing 20 September 2023 – FSFL, RHM

In QuotedData’s morning briefing 20 September 2023: Foresight Solar (FSFL) announced the appointment of Lynn Cleary as an independent non-executive director with effect from 18 September 2023. Lynn spent 17 years as CFO and managing director of strategic programmes for The Royal Bank of Scotland International and is currently the president of the Jersey Bankers […]

19 Sep 2023

Strong rebound for JPMorgan Mid Cap

JPMorgan Mid Cap Investment Trust (JMF) announced its half year results to June 30 2023. The NAV total return for the period was +7.5%, ahead of the benchmark FTSE 250 Index (excluding investment trusts) return of +3.0%. The company’s share price discount to NAV widened marginally over the year resulting in a share price total […]

Sectors
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