Custodian REIT discusses CVAs – In its full year results, Custodian REIT discloses that it made a 9.6% return on NAV over the year ended 31 March 2018. EPRA earnings per share rose to 6.9p from 6.6p. The 2019 target dividend per share has been increased to 6.55p (2018: 6.45p). The return to shareholders was 6.7%. […]
Picton Property Income will become a self managed UK REIT (if shareholders are happy with the idea). Picton Property Income reported a total return on net assets of 14.9% for the year to the end of March 2018. Within this, the EPRA NAV rose by 10.5% to 90p per share and its EPRA earnings per […]
Investors sticking by Jupiter Emerging and Frontier – Each year, Jupiter Emerging and Frontier Income operates a voluntary redemption facility through which shareholders may request the redemption of all or part of their holding of redeemable ordinary shares for cash on the last business day in June each year. There was no requirement for shareholders to […]
Investment Trust Insider on TR Property, Tritax and the logistics sector – James Carthew: the property pressures of feeding Amazon Financial results from TR Property (TRY) always make interesting reading. The investment trust had another great year, making a 15.5% total return on net assets over the twelve months to 31 March which, when coupled […]
Personal Assets still expanding despite losing money – Over the year to 30 April 2018 Personal Asset Trust’s net asset value per share fell by 2.6%. This compares to a rise of 4.2% in the All-Share Index. Personal Assets’ share price fell by GBP13.40 during the year and at 30 April 2018 was GBP392.00. Barring unforeseen circumstances, […]
Out with Raven Russia, in with Raven Property Group – The company formerly known as Raven Russia has announced that, following approval at the company’s AGM, it has changed its name to Raven Property Group (with effect from 4 June 2018). Its ticker has also changed from RUS to RAV. [QD comment: Although no formal explanation has […]
Custodian REIT has announced that it has acquired a 77,242 square foot health and fitness centre in Lincoln, located on the A46 within a mixed use, out-of-town scheme. Businesses in the immediate vicinity include Ibis Hotel, Fayre & Square and Frankie & Benny’s. The agreed purchase price of £4.3m was funded from the Company’s existing […]
GCP Student Living has announces that it is in advanced negotiations to acquire and fund the construction of Scape Brighton. If acquired, this would be the Company’s second asset in Brighton. About Scape Brighton Scape Brighton is a large scale, purpose-built private student development located on the primary campus of the University of Brighton. Scape […]
Vinaland divests its stake in Project SDC – Vinaland has announced that it has divested its entire stake in Project SDC. The Project, which is located in Ho Chi Minh City, was acquired by Vinaland in 2007 and is designated for a commercial use development. Disposal value is 35% below its value at Vinaland’s November 2016 […]
Brunner refinances debt crystallising 21.5p NAV hit – The Brunner Investment Trust has priced an issue of a GBP25 million fixed rate 30 year unsecured private placement note at a coupon of 2.84%. The funding date for the note should be 28 June 2018. The money will be used towards an early repayment of Brunner’s share of […]
Sterling strength holds Capital Gearing back – Capital Gearing has published its results for the year ended 5 April 2018. Over this period, the NAV edged up by 0.1% and the share price rose by 1.0%. This compares to a rise in the MSCI UK Index of 1.8% but, more importantly, it also compares to […]
“Real is rare” but synthetic diamonds are shining just as brightly – De Beers enters the synthetic diamond jewellery market The news that diamonds can be created in a lab is not news. For many years, the processes to produce synthetic diamonds has evolved to the point where they appear often in jewellery. In the […]
Edinburgh impacted by tobacco, Provident Financial and Capita – Edinburgh Investment Trust lagged its benchmark by some margin over the year to the end of March 2018. Its NAV total return was -5.9%, the return to shareholders was -6.7% and the return on the All-Share index was +1.2%. The dividend was increased from 25.35p to […]
Investment Trust Insider on student housing James Carthew: DIGS’ London moat had direct impact on returns GCP Student Living (DIGS) is five years old and it has been a great success. An investor who subscribed £1 for a share in the real estate investment trust’s initial public offering on 20 May 2013 has received 26.07p in […]
Supermarket Income REIT buys Scunthorpe Tesco Extra – Supermarket Income REIT has acquired a Tesco Extra supermarket in the north Lincolnshire town of Scunthorpe, England, from Legal and General Pensions Limited for GBP53 million (net of acquisition costs), reflecting a net initial yield of 5.1%. Developed in 2002, the store totals 98,000 sq ft on an […]
TR Property extends its run of good performance – TR Property delivered a net asset value total return of 15.5% for the year ended 31 March 2018, well ahead of the benchmark at 10.2%. Coupled to this revenue has increased by 16.2% for the year and the total dividend for the year was 12.20p, 16.2% ahead of […]
F&C UK High Income Trust cuts management fee – F&C UK High Income Trust has published results for the year ended 31 March 2018. The fund underperformed the All-Share index, returning -2.5% in NAV terms, -2.8% in share price terms for the ordinary shares and -3.8% for the share price of the B shares. By […]
Perpetual Income & Growth reports underperforms its benchmark for a second year – The NAV total return of Perpetual Income & Growth (PLI) for the year ended 31 March 2018 was –5.6%. Chairman of the company’s board, Richard Laing stated in his report that this was a disappointing result in a difficult year in which the […]
FDA fast track review for trust-backed Sage Therapeutics Sage Therapeutics (Nasdaq: SAGE), a high conviction idea for two of the biotech sector specialist investment trusts, has confirmed that the US FDA has accepted the NDA filing for its lead product, brexanolone IV for treatment of postpartum (post natal) depression (PPD), and granted the application priority review status. NDA […]
NextEnergy Solar adds first plants with onsite battery storage – NextEnergy Solar Fund Limited has announced the acquisition of two operating solar plants in the UK. These come with integrated energy storage facilities. The purchase of Salcey Farm and Pierces Farm adds an additional 7.2MWp to NextEnergy Solar’s portfolio. The integrated energy storage capabilities at both sites have a combined capacity […]
Shires Income increases its dividend to shareholders by 2% – During the year ended 31 March 2018, Shires Income‘s NAV per share increased by 3.3% on a total return basis, compared to a total return from the benchmark, the FTSE All-Share Index, of 1.2%. The share price total return was 12.2%, as the discount to NAV closed near […]
Aberdeen Japan returned enhanced by yen/sterling currency hedge – Aberdeen Japan Investment Trust (AJIT) has released its final report for the year to 31st March 2018. The NAV of the company rose by 12.6% on a total return basis. By way of comparison, the TOPIX index of leading Japanese companies rose by 8.2% on the same basis. […]
LondonMetric announces its annual results – LondonMetric (LMP) is a Real Estate Investment Trust (REIT) that specialises in distribution, convenience and long income property. LMP is a constituent of the FTSE 250. It focuses on strong and growing income and adding value through asset management initiatives and short cycle developments. LondonMetric has 14 million sq ft under management. […]
A mixed year for Value and Income Trust – In its final report to 31 March 2018, Value and Income Trust (VIN) stated that the NAV performance of the company was mixed. Its property portfolio had a good year. However, the equity portfolio was less successful in a difficult year for income focused investors. The NAV total return was -1.6% […]
Scottish Mortgage’s earnings rise by 12% – Scottish Mortgage (SMT) has published its final report for the twelve month period up to 31 March 2018. Following a strong year of performance, the company has seen its earnings rise by 12% to 1.20p from 1.07p the year before. Therefore, it was decided that, given the long run capital returns, the dividend […]
Trust favourite Genmab hit by trial setback Denmark’s Genmab, a widely-held stock among the sector specialist investment trusts, has suffered a major setback in the past week with failure/termination of studies involving its lead product Darzalex, which is sold by Johnson & Johnson. The studies were both aimed at expanding the range of uses of Darzalex, […]
Another twist for Vietnam Holding’s shareholders – After news that it is changing its investment agreement with its existing investment manager, its intention to acquire the assets of another Vietnamese listed equity fund (click here for more) and the resignation of fund manager, Vu Quang Thinh (click here for more), shareholders of VietNam Holding (VNH) have found […]
Invesco Perpetual Enhanced Income updates on investment manager search – In April 2018, Invesco Perpetual Enhanced Income (IPE) were served notice by their investment manager, Invesco Fund Managers Limited that they were to step down – click here to read more. In May, the company (IPE) received requests from some of its largest institutional shareholders to hold an […]
Livermore reports on a positive year – In the company’s report for the year ended 31 December 2017, Livermore Investments Group (LIV) reported that its NAV per share increased by 11.0% to USD 1.00 from USD 0.90 the year before. Net profit for the year, however was USD 16.4m from USD 34.0m in 2016. The net income was primarily driven by interest […]
VinaLand divests its stake in Project Romana Resort & Spa – VinaLand Limited (VNL) is an AIM-quoted investment vehicle established to target strategic segments within Vietnam’s emerging real estate market. The company has announced that it has disinvested from one of its holdings, a 96 bedroom hotel called the Project Romana Resort & Spa in Binh Thuan […]
