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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).

15 Feb 2016

Katherine Garrett-Cox to leave Alliance Trust Investments in March 2016

Alliance Trust has announced that Katherine Garrett-Cox (pictured) will stand down as chief executive of its management company, Alliance Trust Investments Limited (also a subsidiary of Alliance Trust ), and will be leaving the company on 11 March 2016. The company says that this follows discussions between the Board and Katherine about the future requirement […]

Sectors
12 Feb 2016

SEGRO mulling big box logistics tie up with Roxhill

SEGRO plc says it has noted the recent media comment regarding a possible transaction with Roxhill Developments. SEGRO confirms that it is in discussions regarding a possible arrangement with Roxhill that, should it be agreed, will enable SEGRO to strengthen its presence in the UK big box logistics market. The arrangement would involve SEGRO and Roxhill working […]

12 Feb 2016

City of London confident of dividend increase

City of London Investment Trust has published interim results covering the second half of 2015. Over this time the NAV total return was 1.5% which was slightly behind the average for the UK Equity Income Investment Trust sector (1.7%) but ahead of the UK Equity Income OEIC sector (0.8%) and the FTSE All- Share Index […]

Sectors
12 Feb 2016

BlackRock Throgmorton gets its stock selection right

BlackRock Throgmorton Trust beat its benchmark by more than 10% over the year that ended on 30 November 2015. The Company’s net asset value per share returned 23.2% compared with a return of 11.9% for the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index. Shareholders did even better – the share price return was […]

Sectors
Companies
12 Feb 2016

Alpha Real Trust invests in Scottish Biomass Plant

Alpha Real Trust announces it has entered into a purchase agreement to acquire the long leasehold interest in a central Scotland land development site.  Alpha Real Trust has entered into a 40 year, long leasehold interest with full planning consent and secure grid connection for the installation of a wood fired Combined Heat and Power (“CHP”) plant […]

Sectors
12 Feb 2016

Scottish American reports modest outperformance

Scottish American Investment Co has announced its results for the year to 31 December 2015. The net asset value total return (capital and income) for the year was 5.9%, ahead of the total return from equities of 4.1% (which, although it isn’t stated, is most probably the return on the MSCI World Index). The share price […]

Sectors
11 Feb 2016

Target Healthcare REIT to acquire care home in Bricket Wood, St Albans

Target Healthcare REIT has announced that it has exchanged contracts to acquire a 12-bed specialist care home in Bricket Wood, St Albans for approximately £2.3m (including acquisition costs). The transaction is expected to complete after the expiration of a “planning judicial review period” in March. Following this, Target is to acquire the care home, which […]

10 Feb 2016

GCP Student Living buys Bristol block with placing proceeds

GCP Student Living has raised £19m in a placing of its shares and has used the proceeds to buy a student accommodation block in Bristol. The Placing was significantly oversubscribed  and the placing price was 135 pence. GCP Student Living has exchanged contracts to acquire Water Lane Apartments, a modern, private student accommodation residence located in a […]

10 Feb 2016

MedicX acquiring new primary care centre in Brynhyfryd, Swansea

MedicX Fund has announced that it has acquired a new primary healthcare centre, in Brynhyfryd, Swansea, by way of forward funding. The property is due to be completed in January 2017 and will be let to a GP practice, the Abertawe Bro Mogannwg University Health Board and a pharmacist. The company says that all leases […]

09 Feb 2016

Dunedin Enterprise invests in Alpha Financial Markets

Dunedin Enterprise Investment Trust has, through the Dunedin Buyout Fund III, committed £8.1m to an investment in Alpha Financial Markets. Dunedin Enterprise has an interest of 11.6% in Alpha. Alpha is the leading global asset and wealth management consulting firm.  Founded in London in 2003, Alpha has grown rapidly and is now the global market […]

09 Feb 2016

JZ Capital Partners sells six European investments

JZ Capital Partners has sold six European investments for €96.3m. These investments are held through the EuroMicrocap Fund 2010, L.P. The transaction will be completed in two phases. Firstly, on February 1, 2016, JZCP sold its stake in the first five assets (Docout, Ombuds, One World Packaging, Toro Finance, and Xacom) for €75.2 million. Secondly, […]

Geographies
  • North America
  • Europe (EU and EEA ex UK)
  • UK
Sectors
09 Feb 2016

Regional REIT buys Rainbow portfolio

Regional REIT Limited has announced that it has exchanged contracts to buy the “Rainbow Portfolio” for £80m from Northwood Investors. The portfolio produces a net yield of 8.2% at a capital rate of only £70 per sq.ft., well below replacement cost. The portfolio comprises 12 assets, five offices and seven industrial sites totalling 1.15m sq.ft. and […]

Sectors
09 Feb 2016

Apax Global Alpha new investment and revolving credit facility

Apax Global Alpha has announced a proposed commitment to Apax IX and amendment and extension of its Revolving Credit Facility. Apax Global Alpha has agreed an amendment and restatement of the multicurrency revolving credit facility agreement with Lloyds Bank plc dated 30 January 2015. The Amended and Restated Revolving Credit Facility increases the funds available from […]

08 Feb 2016

Randgold’s gold production increases by 6% in 2015 to a new record

Randgold Resources increased its gold production by 6% in 2015, to 1.21 Moz, from 1.15 Moz in 2014. Earnings per share, at US$2.03, were nevertheless down 20% as the company received a gold price of US$1,153/oz, US$112/oz lower than the previous year. The company managed to reduce its average cash costs slightly to US$679/oz. The […]

08 Feb 2016

Juridica in cost cutting mode

Following an announcement on 18 November 2015, from Juridica Investments, that it would no longer make new investments and would be conducting a review of its cost structure, its board have now announced amendments to its fee structure and measures that the company says will reduce its fixed costs going forward. The board says that, […]

08 Feb 2016

GLI Finance calls EGM to approve Somerston deal

GLI Finance has announced that, following its previous announcement on 21 December 2015 regarding the development of a strategic relationship with the Somerston Group of companies, that it has agreed binding terms with Golf Investments (a newly formed special purpose vehicle that is part of the Somerston Group). Somerston will be providing finance to GLI […]

05 Feb 2016

Artemis Alpha writes down unquoteds

Artemis Alpha has announced that, following a quarterly review of the Company’s unquoted portfolio,  a number of adjustments have been made to the carrying valuations. These have resulted in an overall reduction of 2.1 per cent in the Company’s net asset value. The most significant reduction was to Starcount, where it was considered prudent to […]

Sectors
05 Feb 2016

Henderson Opportunities way ahead of benchmark

Over the year to the end of October 2015 Henderson Opportunities returned 13.5%, way ahead of the 2.9% return posted by the FTSE All-Share Index, its benchmark. The discount widened to 10% from 3% and so the return to shareholders was 6.3%. The full year dividend was increased from 12.5p to 18p. Once again, 4D […]

Sectors
05 Feb 2016

Further outperformance from Jupiter European Opportunities

Jupiter European Opportunities published its interim results on 4 February. Over the six months to the end of November 2015, the total return on net assets was 3.1%, well ahead of the -4.7% returned posted by the FTSE World Europe ex UK index. Demand for the company’s shares (£35m worth of new shares were issued […]

Sectors
Companies
04 Feb 2016

Alpha Pyrenees sells three more properties

Further to the announcement on 15 December 2015, Alpha Pyrenees has announced that it has sold its properties located at Athis Mons, Aubergenville and Aubervilliers in France totalling approximately 59,730 square metres for EUR24.3 million. The purchaser is an investment vehicle managed by Colony Capital, Inc. (NYSE: CLNY), a global real estate and investment management […]

Sectors
04 Feb 2016

Alliance Trust becomes “externally” managed

Alliance Trust Investments Limited has become the Investment Manager and Alternative Investment Fund Manager (“AIFM”) to Alliance Trust with effect from 3 February 2016 – so Alliance Trust has become externally managed (although Alliance Trust Investments is a subsidiary of Alliance Trust). Alliance Trust Investments has also replaced The Bank of New York Mellon, London Branch (“BNYM”) as […]

Sectors
04 Feb 2016

Electra sells Daler-Rowney

Electra has announced the sale of its interest in fine art materials producer Daler-Rowney to the FILA Group, a Milan-listed producer of writing instruments and art supplies. Electra received proceeds of approximately £32m which equates to an uplift of £20m or 163% on the valuation of Daler-Rowney at 30 September 2015, implying an increase in NAV per share […]

03 Feb 2016

Target Healthcare adds another home

Target Healthcare REIT Limited and its subsidiaries has announced that it has completed the acquisition of a premium, purpose-built care home in the south east of England for c.£14m (including transaction costs). This transaction is in accordance with the Group’s investment policy. The home was opened in 2011 and provides accommodation in luxurious surroundings in […]

03 Feb 2016

BlackRock Commodities hit by weak resources sector

BlackRock Commodities Income has published results for the year ended 30 November 2015. It will come as no surprise, given how weak the resources sector has been (the Brent oil price fell by 38% and key industrial commodities copper and iron ore plunged by 29% and 40% respectively), that the company had a poor year, […]

03 Feb 2016

Stalling growth sees investors flock to small-cap trusts

The demand for UK small-cap investment trusts has increased markedly since May, amid slow growth and short term volatility in global markets, suggests data from QuotedData. – See more at: http://www.portfolio-adviser.com/news/1027294/cap-driving-demand-uk-uptick#sthash.PU3pDbt0.dpuf

Sectors
03 Feb 2016

HICL buys stake in A63 Autoroute

HICL Infrastructure Company Limited, the listed infrastructure investment company advised by InfraRed Capital Partners Limited, has announced that it has reached an agreement to acquire a 13.8% interest in the A63 autoroute project in France.  The vendors are Colas Sud Ouest and Spie Batignolles. The acquisition is subject to a number of conditions and is expected […]

03 Feb 2016

JPMorgan Russian to expand remit

JPMorgan Russian has published its results for the year ended 31 October 2015. The MSCI 10/40, the benchmark, fell by a further -13.4% (2014: -21.0%). Both JPMorgan Russian’s return to shareholders and the net asset value total return slightly underperformed the benchmark index, with falls of -13.5% and -14.2% respectively. The dividend is being maintained at […]

Sectors
Companies
02 Feb 2016

Polar Capital Global Financial outperforms

Polar Capital Global Financial has reported a return on net assets of 5.3% for the year to the end of November 2015. this compares well to a total return of 0.9% for the benchmark MSCI World Financials Index, and total return of 3.8% delivered by the broad MSCI World Index. The Company’s share price total return […]

Geographies
  • North America
  • UK
  • Europe (EU and EEA ex UK)
Companies
02 Feb 2016

Diverse Income well ahead of UK market

Diverse Income’s interim results, covering the six months ended 30 November 2015, show the fund generating a return on net assets of 6.4% and a return to shareholders of 7.0%. They also declared two quarterly dividends of 0.65p each. The Board is rebalancing the quantum of the four quarterly dividends to make them more equal […]

Sectors
Companies
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