Biotech Growth blames large caps for 2017/18 under-performance OrbiMed-managed Biotech Growth Trust (BIOG) blamed an overweight position in large cap stocks for under-performance against the benchmark Nasdaq Biotechnology index (NBI) in the six months to March 2018 and financial year as a whole, having recorded a 6.7% fall in NAV against a 2.2% fall for […]
Change in manager line-up for NB Global Floating Rate – NB Global Floating Rate Income Fund says that Neuberger Berman Europe Limited, the investment manager has notified it of the resignation of one of the team, Martin Rotheram, who will depart the firm following completion of a six-month notice period. Neuberger Berman Europe Limited has confirmed […]
Electra Private Equity to start formal sales process – Electra Private Equity (ELTA) has reported in its half year results that it will begin a formal sales process. The company returned £349 million returned to shareholders in December 2017, bringing the total in last 18 months to £1.8 billion. It had told the market in a […]
Balance sheet strength and sector focus supports NewRiver REIT’s performance – NewRiver REIT (NRR) has published its report for the year ending 31st March 2018. The objective of NewRiver REIT is to own and operate retail properties that generate a high, sustainable income and provide an attractive environment for retailers and shoppers. Its continued focus is on the most […]
Hibernia REIT outperforms the Irish property sector – Hibernia REIT (HBRN ID) has reported positive results for the 12 months to 31 march 2018, despite the increase in stamp duty, with developments and residential assets being particularly strong performers. The company’s portfolio delivered a total property return (excluding acquisition costs) of 11.6%, outperforming its benchmark, the IPD Ireland […]
Caledonia’s investment portfolio delivered resilient performance in 2017 – Caledonia Investments (CLDN) has reported its final results for the year ended 31 March 2018. Caledonia Investments is a self-managed investment trust. It was acquired by the Cayzer family in 1951 as a holding company for their shipping interests and morphed over the years into the family […]
First set of results for Downing Strategic Micro-Cap – Following its launch at IPO in May 2017, Downing Strategic Micro-Cap Investment Trust (DSM) has delivered its first annual report to 28 February 2018. The company aims to take influential positions in a focused portfolio of 12 – 18 UK micro-cap companies. The company raised £54.5 million (net) at IPO […]
Oakley agrees sale of Facile to EQT – Oakley Capital Investments Limited (OCI) has announce that one of its underlying funds, Oakley Capital Private Equity II has reached an agreement to sell its stake in Facile.it, Italy’s leading online price comparison website to EQT VIII, an underlying fund of Swedish private equity group EQT. Another of OCI’s underlying funds, […]
North Atlantic Smaller Companies reports 12 month numbers – During the 12 months to 31st January 2018, the fully diluted NAV of North Atlantic Smaller Companies Investment Trust (NAS) rose by 16.5%, to 3.458p. This compares with a rise in the sterling adjusted S&P’s Composite Index of 9.8%. There are three areas of activity in the portfolio that contributed to […]
Affinity Water disappointment for HICL investors – In a difficult year for infrastructure, HICL Infrastructure (HICL) reported that its return on NAV was 5.7% over the company’s financial year to 31 March 2018. The share price, however, returned -15.5% on a total return basis. The NAV edged up from 149p to 149.6p, helped by issuing stock […]
Great Portland reports strong operational performance – Great Portland Estates (GPOR) has released its results for the year to 31 March 2018. The company reported a year of robust operational performance that has delivered good financial result. This includes including successes with assets that are leased to multiple types of tenents. It also includes profitable capital recycling […]
Assure adds 120 medical centres to its portfolio – Assure (AGR) has released its results for the year to 31 March 2018. Assura is a constituent of the FTSE 250 and the EPRA indices and is a UK REIT and long-term investor in and developer of primary care property. The company works with GPs, health […]
HgCapital in joint investment into software firm IRIS – HgCapital Trust (HGT) has announced that it has made a joint investment into IRIS with Intermediate Capital Group. IRIS is a provider of business-critical software and services to the UK accountancy, education and business market. Hg is a private equity investment group. It invests via a number of […]
Aberdeen Asian Smaller results of CULS Placing, Open Offer and Conversion – On the 16th of April, Aberdeen Asaian smaller companies (AAS) published the detail of gives details of the proposed restructuring of the 2019 CULS and the terms of a new class of convertible unsecured loan stock that it intends to issue (“2025 CULS”). Click here to read […]
WPCT sees £43m drop in value of Prothena stake value Woodford Patient Capital Trust (WPCT) lost £43m on its investment in Prothena last month, following the failure of the company’s NEOD001 for AL amyloidosis, according to an analysis of its portfolio by Marten & Co. Having for some time last year been WPCT’s largest investment, […]
Invesco Perpetual Enhanced Income agrees to EGM request – Invesco Perpetual Enhanced Income (IPE) has received requests from some of its largest institutional shareholders to hold an extraordinary general meeting. The shareholders are Invesco Perpetual, Practical Investment Fund and GAM Star Credit Opportunities. The shares are held by Bank of New York (Nominees) Limited, on behalf […]
Biotech Growth doubles down on Biogen and Alexion OrbiMed-managed Biotech Growth Trust (BIOG) appears to have increased its already substantial positions in Biogen and Alexion and reduced (or possibly even sold) its previously large stake in Regeneron in the last month, according to its an analysis of its top holdings by Marten & Co. The […]
MedicX reports on positive performance – MedicX Fund (MXF), the specialist primary care infrastructure investor in modern, purpose-built, primary healthcare properties in the United Kingdom and Republic of Ireland, announced its results for the six month period to 31 March 2018. The company became a REIT on 1 October 2017. The company reported a 8.0% total […]
First annual report from Warehouse REIT Warehouse REIT (WHR), which listed on the London Alternative Investment Market (AIM) on 20 September 2017, has released preliminary annual results for the period from IPO to 31 March 2018. The IPO, which was oversubscribed, raised net proceeds of £146.8 million. On admission to AIM, the company completed the acquisition of the seed […]
Schroder Real Estate Investment Trust see 48% increase in profits – Schroder Real Estate Investment Trust (SREI) use the headline “winning cities focus and asset management driving outperformance” for the full year results for the year ended 31 March 2018. The company’s NAV rose by 6.4% and delivered a NAV total return of 10.5%. It outperformed the MSCI peer group […]
Strong occupancy performance driving 7% revenue growth at Big Yellow – The Big Yellow Group (BYG) has reported its annual results to 31 March 2018. When the company reported its results in May 2017, the company emphasised its ambition to achieve its long held occupancy target of 85%. In November that year, it raised that to 90%. The company […]
JZ Capital Partners releases its annual results to 28th February 2018 – JZ Capital Partners (JZCP), which invests in US and European micro-cap companies and US real estate, announced its annual results for the twelve-month period ended 28 February 2018. Results and Portfolio Highlights NAV of $837.6 million, down 1.4% on the previous year NAV per […]
Investment Trust Insider on Civitas and Horizon James Carthew: I hope Horizon revives faith in social housing Horizon Housing (HZN) real estate investment trust (Reit) is the latest launch in the burgeoning social housing sub-sector. At one point, investors were falling over themselves to invest in this area, attracted by its stable, secure and inflation-linked […]
HBM boosts dividend by 20% after stellar year London-listed HBM Healthcare (HBMN) has proposed a CHF 7/share dividend for year to end April, a 20% rise, after a strong year in which it saw a 11% rise in NAV and 34% rise in share price, beating the broadest biotech index and all other sector specialist […]
McKay Securities dividend up 11% – McKay Securities results for the year ended 31 March 2018 show: Financial Highlights Adjusted profit before tax up 5.4% to GBP9.07 million (31 March 2017: GBP8.60 million) Adjusted basic earnings per share of 9.7 pence (31 March 2017: 9.2 pence) Gross rental income up 5.1% to a historic high […]
NewRiver responds to press speculation – NewRiver REIT has released a statement this morning: “NewRiver notes press comment regarding the potential acquisition of Hawthorn Leisure Holdings Limited (“Hawthorn”). NewRiver confirms that it has entered a period of exclusivity with Hawthorn and its major shareholder regarding a potential acquisition of the business. A transaction, if completed, […]
LXi REIT sets new 5.5p dividend target – LXi REIT has published its first set of accounts – covering the period from its launch on 21 December 2016 to 31 March 2018. The EPRA NAV per share increased by 9.87% to 107.67 pence (at the IPO in February 2017 it was 98.00 pence). Other highlights were: Raised total gross […]
New twist as Vietnam Holding manager resigns – a couple of days ago Vietnam Holding announced that it was serving notice on its manager as a way of triggering a review of the fee arrangements for its services. The announcement said though that the plan was to retain the services of the portfolio management team led by […]
Greencoat UK Wind announces the result of its capital raise – Greencoat UK Wind (UKW) has announced that it has raised its target of £118.8m from a capital raise announced on 8th May 2018. The proceeds of the raising, which was oversubscribed, will be used to complete the purchase of the company’s further shareholding in Clyde […]
In what its chief executive, Chris Griggs, describes as “another good year for British Land”, the company says that financial performance has been robust following significant asset sales and that it has made further strategic and operational progress, while leasing activity has been strong across the business. During the year, the completed over £1 billion […]
