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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).

09 Mar 2016

Record student intake good news for GCP Student Living

GCP Student Living reports a total shareholder return for the six month period to 31 December 2015 of 7.8%. The EPRA NAV (cum-income) per ordinary share at the end of the period was 135.35 pence. Dividends of 2.82 pence per share were paid or declared in the period in line with target. All properties are fully occupied and they […]

09 Mar 2016

Atlantis Japan shakes up manager line-up

Following a review of the management of Atlantis Japan Growth’s portfolio, the Board, the Company’s investment manager, Tiburon Partners LLP, and its investment adviser, Atlantis Investment Research Corporation, have agreed a number of changes which the Board believes will enhance investment performance and improve communication with existing and potential new investors.  In particular: Ed Merner […]

Sectors
09 Mar 2016

Another good year for Witan

Witan’s results for the year ended 31 December 2015 show it generating a net asset value total return of 6.4%, 2.9% more than its benchmark’s total return of 3.5%. The share price total return was 5.7%, as the shares moved from a small premium at the end of 2014 to a 0.2% discount at the end […]

Sectors
09 Mar 2016

Pantheon let down by discount widening

Pantheon International’s NAV per share rose by 8.2% over the course of 2015, outperforming the FTSE All-Share, which fell by 2.0%, and the MSCI World, which rose by 3.3%. However, they say share price performance was disappointing (-4.1%) as it was impacted by a sector-wide increase in discounts which have been driven by uncertainty in financial […]

09 Mar 2016

EP Global posts 2.9% return for 2015

EP Global Opportunities returned 2.9% on net assets over the course of 2015. The Company has no official benchmark, this was ahead of the total return for the FTSE All-Share Index of 1.0%, but slightly behind the total return from the FTSE All-World Index of 4.0%. They plan to pay a dividend of 3.1p at […]

Sectors
09 Mar 2016

Princess Private Equity returns 17% in 2015

Princess Private Equity’s results for 2015 show the fund delivering a return on net assets of 17.5%. The dividend was €0.54 (a 5.7% yield on NAV at 31 December 2015 / 6.9% yield on the shares). The Board say they plan to continue to pay a dividend of 5% to 8% per annum of the NAV. The […]

Sectors
09 Mar 2016

BlackRock Latin matches benchmark, no tender planned

BlackRock Latin American’s results for the year ended 31 December 2015 show a 30.9% fall in net assets on a total return basis in dollars (-27.0% in Sterling) and a -30.6% return to shareholders in dollars which translates as -26.6% in Sterling. These returns are pretty much in line with the fund’s benchmark which returned -30.8% […]

Sectors
08 Mar 2016

Foreign & Colonial planning new private equity investments

Foreign & Colonial has published its results for the year ended 31 December 2015. Their net asset value total return of 7.5% was above the 4.0% delivered by the FTSE All World Index over the year. FRCL delivered a total shareholder return of 9.0% for the year. The net asset value per share with debt at market […]

Sectors
08 Mar 2016

HgCapital Trust is investing £4.5m in Trace One

HgCapital, the Manager of HgCapital Trust has today announced an investment into Trace One SA,a provider of software to the retail and private label goods sectors, headquartered in France. The terms of the transaction were not disclosed. HgCapital Trust will invest in Trace One, alongside other institutional clients of HgCapital, who will participate through the […]

08 Mar 2016

Highbridge Multi Strategy trading suspended

It appears that when BlueCrest AllBlue’s US dollar shares were converted into Sterling shares in advance of the switch of the fund to become Highbridge Multi Strategy Fund, they made a mistake calculating the conversion ratio. The company has asked that trading in its shares be suspended while they sort out the mess. HMSF : Highbridge […]

Companies
08 Mar 2016

DW Catalyst broadening its portfolio

DW Catalyst Fund is proposing to reinvest part of its existing portfolio from the DW Catalyst Offshore Fund into the DW Value Offshore Fund, with the potential also to invest a portion of the Company’s assets in other strategies pursued by DW Partners, LP, the Company’s investment manager. DW Value invests across the spectrum of […]

08 Mar 2016

Custodian REIT acquires St. Catherine’s Leisure Park in Perth for £4.5m

Custodian REIT has announced that it has acquired St. Catherine’s Leisure Park in Perth (pictured), which comprises three units let to Bannatyne Fitness Limited, Scotco (Eastern) Limited (trading as KFC) and The Restaurant Group (UK) Limited (trading as Frankie and Benny’s). The 34,121 square foot park is within walking distance of the town centre and […]

08 Mar 2016

Longbow sees student loan repaid

ICG Longbow Senior Secured UK Property Debt Investments says the borrower under the Company’s Mansion loan has now completed the disposal of the two student accommodation properties which provided security for the Company’s loan. As a result of this disposal the £18.07m loan has been repaid in full, together with exit and prepayment fees of […]

08 Mar 2016

A strong start for Apax Global Alpha

Apax Global Alpha has announced its final results to 31 December 2015. These are its first set of results since listing on the London Stock Exchange in June 2015. During the twelve months to 31 December 2015, the adjusted NAV (i.e. NAV excluding performance fee reserves), increased by €110.7m to €923.6m, which the company says […]

07 Mar 2016

Northern Investors sells Control Risks

Northern Investors Company has announced the sale of its investment in Control Risks Group Holdings Limited for £7.3m in cash.  The directors’ valuation of the investment in Control Risks for the purposes of calculating Northern Investors’ unaudited net asset value as at 31 December 2015, which was announced on 17 February 2016, was also £7.3m. […]

07 Mar 2016

Ride the Japanese stimulus

Fidelity investment trust grabs our attention on wide discount and manager change The global market sell-off so far in 2016 has thrown up some interesting opportunities in both stocks and funds. One investment trust that looks particularly enticing is Fidelity Japanese Values (FJV) which now trades at an 18% discount to its net … http://www.sharesmagazine.co.uk/articles/ride-the-japanese-stimulus/

Sectors
07 Mar 2016

HgCapital Trust – NAV growth driven by trading performance, realisations and comparable ratings

Hg Capital Trust has announced its annual results for the year ended 31 December 2015. During the year, it provided NAV and share price total returns of 14.1% and 8.6% respectively, both markedly outperforming the FTSE All-Share, which provided a total return of 1.0%. The manager say that, during the year, the portfolio provided revenue […]

07 Mar 2016

JPM Senior Secured Loan paves way for liquidation, removes credit facility

Following consultations with shareholders JPMorgan Senior Secured Loan’s Board announced last month that it would seek approval to place the Company into voluntary liquidation, affording all Shareholders the opportunity of a full cash exit at net asset value less costs. In late March 2016 the Board will publish a circular which will provide notice of two […]

04 Mar 2016

Hibernia REIT acquires Marine House, Dublin 2, for €26.5m

Hibernia REIT has announced that it has exchanged contracts to acquire Marine House, Dublin 2, for €26.5m. Marine House is a 1970s office building totalling 41,000 sq. ft. arranged over six floors above a double basement with 81 underground car parking spaces. The purchase price equates to a capital value of €640 per sq. ft. […]

Sectors
04 Mar 2016

Capital & Regional announces big hike in dividend

Capital & Regional has announced its full year results to 30 December 2015 together with the £10.5m acquisition of a further property in Hemel Hempstead and the selection of Barratt London as the preferred development partner for the proposed extension of The Mall, Walthamstow to provide 92,000 sq ft of new retail space and over […]

04 Mar 2016

A good year for Athelney Trust

Athelney Trust has announced results for the year ended 31 December 2015. The NAV total return was 10.4 per cent (31 December 2014: 6.5 per cent) while the UK market fell by 3.8 per cent. The revenue return per ordinary share was 9.3p (31 December 2014: 7.8p) and, on the back of this, they have announced a […]

Sectors
04 Mar 2016

Industrial Multi-Property shares up on results

Industrial Multi-Property Trust’s shares are up 9% following the announcement of its annual results for the year ended 31 December 2015. Their adjusted net asset value per ordinary share increased by 18.6% – to 261 pence as at 31 December 2015 from 220 pence at 31 December 2014. Adjusted loss per share improved to a loss of 18.1 […]

04 Mar 2016

Chinese internet stocks help Pacific Horizon outperform

Pacific Horizon’s interim results for the six months ended 31 January 2016 have been published. These show that its net asset value per share fell 6.1% to 185.64p. The share price fell 11.9% and the discount widened from 8.2% to 13.8%. Over the same period the MSCI All Country Asia ex Japan Index fell 7.4% […]

Sectors
04 Mar 2016

Things looking up at Alliance Trust

Alliance Trust reports a 5.4% total return on net assets and a 10.7% return to shareholders for the year ended 31 December 2015 this compares to the MSCI ACWI benchmark return of 3.8%. The total dividend is 12.43p, up 0.4% on 2014. Alliance Trust Investments (ATI) generated net inflows of £81m, ending the year with […]

Sectors
03 Mar 2016

Change of name and manager for Aberdeen Smaller Companies High Income

Aberdeen Smaller Companies High Income reports that its net asset value on a total return basis increased by 13.4% over the twelve months to 31 December 2015.  This compares with a rise in the FTSE SmallCap (excluding investment companies) Index of 13.0%. The FTSE 100 Index fell by 1.3%. The narrowing of the discount, to 13.6% at […]

Sectors
03 Mar 2016

Secure Income REIT looks to broaden shareholder base

Secure Income REIT has published results for the year ended 31 December 2015. Over the period, the EPRA NAV rose by 9.4% to 282.8 pence per share (after incurring early debt repayment costs amounting to nearly 16% of EPRA NAV as at 31 December 2014). EPRA earnings per share for the period were 2.6p. They intend to pay quarterly […]

03 Mar 2016

Cash flowing back to Mithras

Mithras has reported a 6.7% uplift in its NAV and a 2.8% increase in its share price over the year ended 31 December 2015 (as the discount widened from 12.1% to 15.3%). the Board has recommended a final dividend totalling 1.0 pence per share (2014: 1.0 pence). Cash distributions received by the Company amounted to […]

02 Mar 2016

Symphony NAV slips a little in 2015

Symphony International Holdings Limited has announced results for the year ended 31 December 2015. The NAV attributable to the ordinary shares on 31 December 2015 was US$1.3172 per share (US$1.3011 per share on a fully diluted basis). This represents a 2.2% decline over the NAV per share of US$1.3473 at 31 December 2014 (US$1.3356 per […]

02 Mar 2016

Seneca Global Income and Growth gets new co-manager

The Board of Seneca Global Income & Growth Trust plc (the Trust) is pleased to announce that Peter Elston has been appointed a named fund manager alongside Alan Borrows. Peter Elston joined Seneca Investment Managers in November 2014, as Chief Investment Officer and is also responsible for Seneca Investment Managers’ clients’ asset allocation. As previously announced, […]

Sectors
02 Mar 2016

City Natural Resources benefits from narrowing discount

City Natural Resources has published interims for the six months ended 31 December 2015. The Chairman’s statement opens thus: “It is five years since I last wrote to you with unqualified good news and I am very much afraid that the six months under review continues what has been a dismal run, with no let-up […]

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