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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).

23 Feb 2016

TR European Growth just fails to match benchmark

TR European Growth underperformed its benchmark over the second half of 2015 – the net asset value total return (including dividends reinvested) was 6.7% compared to a total return from the benchmark index (The Euromoney Smaller Companies Index ex UK) of 8.2%. The share price total return was 7.0%. The discount increased from 7.6% to 8.0% compared with […]

Sectors
23 Feb 2016

Pan African Resources’ interim earnings increase by 98%

Pan African Resources, which mines gold in South Africa, increased interim earnings in 2015 by 98% over 2014, to £10.9 million (GBP0.60 per share). Revenue increased by 11% to £75.6 million on the back of gold sales of 101.8 koz (up 17%) and a 11.7% increase in the gold price received, as a fall of […]

23 Feb 2016

Dexion Absolute to wind up

In October 2015, Dexion Absolute announced that, in the event that the Shares trade at an average discount of 5 per cent. or more to its NAV in the three months commencing on 1 January 2016, it would put forward proposals for either a winding up of the Company and the appointment of a liquidator or […]

23 Feb 2016

Renewables Infrastructure looking at offshore wind

The Renewables Infrastructure Group has published results covering the year ended 31 December 2015. The NAV per share was 99p at 31 December 2015, down from 102.4p at the end of 2014. They say this reflects the impact of the removal of LECs (subsidies) in the Summer Budget. Total distributions of 6.19p per share were declared, up from 6.08p. They are […]

22 Feb 2016

CVC Credit Partners not seeing deterioration of credit quality

CVC Credit Partners reports an increase in its NAVs from €1.0247 to €1.0257 for its Euro share class and 102.87p to 103.52p for its Sterling share class over the course of 2015. The share prices of the two share classes fell by 2.9% and 4.0% respectively. Dividends totalling 5 cents / 5p were also paid. […]

22 Feb 2016

Custodian REIT acquired B&Q retail warehouse in Banbury for £6.5m

Custodian REIT has announced that it has a 34,955 square foot retail warehouse in Banbury, currently let to B&Q, for £6.525m. The warehouse is located one mile from junction 11 of the M40 and within walking distance of the town centre and railway station. Nearby occupiers include Wickes, Halfords, Homebase, Dunelm Mill, Topps Tiles and […]

22 Feb 2016

Amedeo Air Four Plus buys fifth A380

Amedeo Air Four Plus Limited, via its wholly-owned subsidiary AA4P Epsilon Limited, on 19 February 2016 purchased directly from Airbus one A380 aircraft bearing manufacturer’s serial number 206 at a net cost to the Company of US$275 million.  The Aircraft is the Fifth Asset to be acquired by the Company. Following acquisition of the Aircraft, AA4P Epsilon […]

22 Feb 2016

Ecofin continuation vote fixed for 14 June

The Board of Ecofin Power & Water Opportunities has announced that the continuation vote referred to in the Chairman’s statement in the company’s annual report will take place at a General Meeting expected to be held on Tuesday, 14 June, 2016. As explained in the Chairman’s statement in the annual report, the Board is currently considering […]

22 Feb 2016

UK Floods take edge off good year for CatCo

CATCo Reinsurance Opportunities Fund has published its Annual Report. For the year ended 31 December 2015, it achieved a net NAV return for shareholders of 11.58%, exceeding the target annual net return of LIBOR plus 9 to 12% per annum. CATCo also outperformed the industry benchmark, the Eurekahedge ILS Advisors Index, by 7.31%. They say […]

22 Feb 2016

BlueCrest holders to benefit from CDS litigation

  BlueCrest Capital Management Limited has made a statement which we reproduce below: “CDS Settlement  Dear Investor,  We are writing to inform you of a positive development that we believe will affect the BlueCrest managed funds listed below.  As you may have read in the press, there has been a recent settlement of a U.S. […]

22 Feb 2016

Dunedin Enterprise sells CitySprint

Dunedin Enterprise Investment Trust says its largest investment, CitySprint, has been realised with a portion of the proceeds being rolled over into a new company (“New CitySprint”). The realisation of CitySprint values the company at £175m and generates proceeds of £26.1m for Dunedin Enterprise. This compares to a valuation at 30 September 2015 of £23.2m. […]

22 Feb 2016

M&G High Income to offer rollover options next year

M&G High Income says, on a net asset value basis, each Package Unit  delivered a negative total return of 3.6% over the  six months to 30 November 2015. This was above the  returns of the FTSE 350 Higher Yield Index and the FTSE All-Share Index, which were a negative 9.4% and  6.4% respectively over the same period. Over the six months […]

Sectors
22 Feb 2016

Brunner matches benchmark in 2015

Brunner says that over the course of 2015, on a total return basis, its NAV increased by 1.7%, slightly underperforming its benchmark which returned 1.8%. The total dividend payment for 2015 was 15.3p, an increase of 2.0% on last year. There was no report from the managers in the announcement but, looking at the full annual […]

Sectors
22 Feb 2016

SQN on target as it prepares to deploy C share cash

SQN Asset Finance Income paid dividends totalling 6.26p during the second half of 2015 while its NAV edged off a little, falling from 99.93p to 99.84p. The share price rose by a quarter of a penny to 108p. the weighted average yield of the portfolio remains above 9.5% and the average term of their leases […]

22 Feb 2016

Standard Life UK Smaller posts “remarkable” performance

Standard Life UK Smaller Companies’ diluted net asset value total return was 15.2% for the six months ended 31 December 2015. This compares with a total return of -1.0% for the Company’s benchmark, the Numis Smaller Companies Index (excluding Investment Companies). The Board say the outperformance is remarkable given stock markets have proved challenging over the period. The […]

Sectors
Companies
22 Feb 2016

Genesis Emerging beats falling markets but could do better

Genesis Emerging says, over the second half of 2015, the Fund’s net asset value per share declined from 572p to 514p, a loss of 10.1%. The Fund’s share price also fell by 10.1% during the period with the discount ending 2015 at 11.9%. Although this result was slightly ahead of the Index, both the Board and the […]

Sectors
22 Feb 2016

Greencoat sees strong wind generation offset lower power prices

Greencoat UK Wind has announced its annual results for the year ended 31 December 2015. During the period, the company’s NAV per share grew by 0.48% to 104.5p but, including dividend (6.26p) the company has provided an NAV total return of 6.6%. During the year, portfolio power generation was 8% above budget at 799.3GWh (the […]

22 Feb 2016

Hibernia REIT to acquire Central Quay, in Dublin’s South Docks, for €51.3m

Hibernia REIT has announced that it has exchanged contracts to acquire Central Quay, a modern office building located between Sir John Rogerson’s Quay and Hanover Quay in the South Docks area of Dublin, for €51.3m. Central Quay (pictured), was completed in 2007 and is a 57,700 square foot office building, arranged over six floors, with 26 […]

Sectors
20 Feb 2016

JPMorgan Senior Loans to wind up

The Board of JPMorgan Senior Secured Loan has considered the future prospects of the Company, particularly in light of the commitment under its Articles of Incorporation to make a redemption offer for 50 per cent. of its shares, triggered by the Company’s shares trading at an average discount in excess of five per cent during […]

18 Feb 2016

Strategic Equity Capital hurt by Tribal holding

Strategic Equity Capital’s interim figures, covering the six months ended 31 December 2015, show the NAV per share and the NAV total return per share decreased by 2.3% and 2.0% respectively. The Chairman’s statement says that aside from the exceptionally disappointing returns from one investment, Tribal Group, the vast majority of the remaining portfolio performed […]

Sectors
Companies
18 Feb 2016

Disappointing period for Sanditon

Sanditon Investment Trust says the second half of 2015 was a disappointing period for the fund with the net asset value closing at 99.3p which, after including the 0.45p maiden dividend paid to shareholders in December, amounted to a loss of 3.25% over the period. The share price closed the year at 107.4p, up 0.8% […]

Sectors
Companies
18 Feb 2016

SEGRO announces 10 year Big Box partnership with Roxhill

SEGRO has announced that it has entered into an exclusive partnership with Roxhill to potentially develop more than 10 million square feet of big box logistics warehousing, over 10 years, in the South East and Midlands. This will allow SEGRO to add significant scale to its UK big box logistics portfolio. SEGRO says that Roxhill is […]

17 Feb 2016

Herald benefits heavily from takeovers, more focus on the US going forward

Herald Investment Trust has announced its annual results for the year ended 31 December 2015. During the period, the company’s NAV grew by 8.4% to 881.8p per share, whilst its share price grew by 13.1% to 745.3p reflecting a narrowing of the discount from 19.0% to 15.5%. Both the share price and the NAV beat […]

17 Feb 2016

Miton UK MicroCap’s C share issue raises £28m

Miton UK MicroCap, managed by Gervais Williams (pictured), has announced that pursuant to the placing, offer for subscription and intermediaries offer of C shares (as described in its prospectus published on 4 February 2016) it has raised gross proceeds of £28m with net proceeds expected to be approximately £27.4m. The company says that applications received under the […]

Sectors
16 Feb 2016

GLI Finance publishes NAV update

GLI Finance has updated its NAV and given some information on the progress of the review of its business post the departure of its previous chief executive. There’s a lot in the announcement so we reproduce it in full below. “Confirmation of permanent CEO, Strategic Review and NAV Update  The Executive team  The Board of […]

16 Feb 2016

Hammerson figures edge upwards

Hammerson announced its results yesterday. The highlights were an 11.3% uplift in its EPRA NAV, a 12.6% increase in its adjusted earnings per share to 23.9p on the back of a 4.3% improvement in net rental income (2.3% like for like). Overall occupancy rose from 97.5% to 97.7%. Retail sales at their centres rose by […]

Sectors
16 Feb 2016

Regional REIT to pay quarterly dividends

Regional REIT’s Board has announced that it intends to increase the frequency of dividend payments and move to the payment of quarterly dividends with effect from the financial year beginning 1 January 2016. Further details on the quarterly dividends are expected to be announced alongside the publication of the Company’s results ending 31 December 2015. […]

Sectors
16 Feb 2016

Murray Income beats All-Share in H2 2015

Murray Income says, over the 6 months ended 31 December 2015, the Company’s net asset value (“NAV”) per share fell by 1.0% on a total return basis outperforming the FTSE All-Share Index which fell by 2.0%. The Company’s share price ended the period at a discount to NAV of 8.0%, compared to 6.9% at 30 June […]

Sectors
15 Feb 2016

Hansteen increases its holding to 82.8% of the Ashtenne Industrial Fund

Hansteen Holdings has announced that it has acquired a further 5.5 million units in the Ashtenne Industrial Fund from clients of CBRE Investors for £2.5m cash, which reflects a price of 46.06p per unit. The company says that the acquisition represents 0.9% of the units in issue and increases Hansteen’s holding in the Ashtenne Industrial […]

Sectors
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