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).
The Board of NB Distressed Debt has announced that it is curtailing its buy-back programme on the Global and Extended Life shares. At the time of writing, the Global shares have fallen by 4.0% today and the extended Life shares by 3.7%. 1) with respect to the Global shares they said: “The discount control policy […]
Empiric Student Property has announced that it has exchanged contracts to acquire Provincial House, a 107 bed forward funded development in Sheffield, for a total investment of £11m. Empiric is to acquire the freehold to the site, which is located in central Sheffield, immediately next to the University of Sheffield’s north campus. The existing property […]
Blackstone / GSO Loan Financing has announced that it is considering raising additional capital through an issue of shares. The company’s board say that this reflects what they consider to be an attractive investment and funding environment. They also say that any fundraise will be subject to market conditions and further details will be announced in due […]
JPMorgan Asian has published results for the year ended 30 September 2015 that show the fund managed to outperform its benchmark. During the year under review, JPMorgan Asian’s return on net assets was -2.9%, outperforming the MSCI AC Asia ex Japan Index, which delivered a -6.3% return. The Board had been warning JPMorgan that performance […]
The temptation to run for the exit to avoid potential losses coupled with a fear of losing out if things turn out to be better than we thought is a frequent dilemma facing investors. The market’s close scrutiny of every piece of economic data and knee-jerk reactions are unlikely to abate, as concerns about the […]
Infrastructure India has announced its interim results for the six months ended 30 September 2015. The announcement says that the value of the Company’s investments decreased 10% to £331.6m during the period (£368.6m as at 31 March 2015), whilst its NAV decreased by 12% to £329.3m (£373.6m as at 31 March 2015). Reflecting this, the […]
LXB Retail Properties has announced its annual results for the year ended 30 September 2015. During the period, the company’s EPRA NAV per share has reduced by 23.1% but this largely reflects the return of £82.6m of cash to shareholders in June. The company says that, taking into account the cash return, there has been […]
Foresight Solar Fund has announced that its 30MW Copley asset (located in Claypole, Newark) has been successfully connection to the Grid and will qualify for the 1.3 Renewable Obligation Certificate banding under the Renewable Obligation 12-month grace period for projects greater than 5MW. Following the connection of Copley, all 16 assets in the Company’s 338MW […]
Finsbury Growth & Income has published an impressive set of results for the year ended 30 September 2015. In a year when the total return on the FTSE All-Share Index was -2.3%, Finsbury Growth & Income delivered a 12.0% return on net assets and an 11.8% return to shareholders. The dividend has ben increased by 7.1% […]
St Peter Port Capital has announced its interim results for the six months ended 30 September 2015. During the period, the company’s NAV has by 21% to 46.2p per share. The company says that, although some companies continue to make good progress, the resource related part of the portfolio has suffered from the weakness in […]
Edinburgh Worldwide Investment Trust, managed by Douglas Brodie (pictured), has announced its annual results for the year ended 31 October 2015. During the year the company’s NAV by 10.0% and its share price by 13.8% beating its comparative index, the S&P Global Small Cap Index, which increased by 3.5% in sterling terms. The Company says […]
Standard Life Investments Property Income Trust has announced that it is extending the timetable for its initial placing and offer until 11 a.m. on 18 December 2015. The company says that the Investment Manager is in advanced legal negotiations in relation to the sale of one of the properties in the company’s portfolio, which is […]
GLI Finance Limited announced, on 17 November 2015, plans to consider the issue of further securities in order to refinance certain existing borrowings as well as to provide additional working capital and finance growth. The related prospectus and circular to shareholders were published on 3 December 2015. One option detailed in this Circular is to […]
Ediston Property has announced that the acquisition of Plas Coch Retail Park in Wrexham for £22.4m (net of acquisition costs) from Diageo Pension Trust. The acquisition, which provides a net initial yield is 6.52% (rising to 7.35% in March 2016 on expiry of a rent-free period), will be funded from existing cash resources and completion […]
Riverstone Energy has announced that it’s placing and open offer, which has raised the full £67.6m. The company announced its intention to raise £67.6m, through the issue of up to 8,448,006 new ordinary shares at £8.00 per share on 23 November 2015. The intention was to use the proceeds to increase its stake in portfolio […]
Tritax Big Box REIT has announced that it has completed the purchase of Matalan Retail’s Northern Distribution Centre at Knowsley Business Park, Liverpool, for £42.38m (net of acquisition costs). This reflects a net initial yield of 6.27% on the acquisition, which is being funded out of equity proceeds, with senior debt finance expected to be […]
Alpha Real Trust has announced the purchase of a residential development site, in central Leeds, for £3.75m. The “Monk Bridge” site has planning consent for 269 residential apartments over 140,000 net saleable square feet with potential for ground floor commercial development within existing disused railway arches. The company says that, like it purchase of the […]
Hansa Trust has announced its interim results for the six-months ended 30 September 2015. During the period, the trusts NAV fell 4.1% on a total return basis. The company says that, excluding the Brazil-focused Ocean Wilsons Holdings, the Company’s NAV fell 3.6%. This compares to a return of 1.7% for the benchmark, which is absolute […]
MedicX fund grows post 8.3% NAV growth during the year MedicX Fund has announced its interim results for the year ended 30 September 2015. During the period, the company’s EPRA NAV increased by 5.4p to 70.8p per share, an increase of 8.3%. The company’s EPRA earnings were £13.4m. This is an increase of £4.7m or […]
F&C Global Smaller Companies‘ interims covering the six months ended 31 October 2015 show the fund delivering a -1.5% return on net assets and a -0.8% return to shareholders. The benchmark is 70% MSCI World ex UK Small Cap Index and 30% Numis UK Smaller Companies (excluding investment companies) Index. This showed a -4.0% total […]
Japan Residential Investment Company has announced that the third party, with which it has been in discussion with, regarding a potential bid has advised that it is no longer interested in making an offer for the company. On 13 November 2015, Nikko III Pte. Ltd. and Japan Residential Investment Company announced that they had reached […]
A new Japan focused investment trust, CC Japan Income & Growth Trust, has announced that it has raised gross proceeds of £66.5m from its first placing, offer for subscription and intermediaries offer. The net proceeds of this first issue are expected to be approximately £65.3m. The shares, which were issued at a price of 100p […]
Ground Rents Income Fund has announced its annual results for the year ended 30 September 2015. The NAV per share at 30 September 2015 was 114.2p (2014: 104.3p), an increase of 9.5%. Profit before tax (including a £9.19m valuation gain) was £12.5m for the period (FY 2014: £4.7m (which included a £2.62m valuation gain). Basic […]
UK-based precious metal consultancy group, Metals Focus, reports that global gold mining total cash costs (TCC) have fallen to their lowest level since 2011 but despite this the basic producer margin (gold price less total cash cost) is at the lowest level since the Metals Focus series began in 2010. In the Q3 2015, TCC […]
Lowland, managed by James Henderson (pictured), has released its annual results for the year ended 30 September 2015. In what the board describe as a difficult year, the company’s NAV total return rose 0.8%, beating its FTSE All-Share benchmark, which fell 2.3%. The share price opened the year at a small premium, but closed at a […]
Alpha Pyrenees announces today that it has sold a portfolio of five properties in France totalling approximately 127,850 square metres for €142.7 million. The properties included in the portfolio were the Trust’s largest property, the Villarceaux-Nozay Business Park let to Alcatel-Lucent, and the Trust’s properties at Evreux, Goussainville, Roissy-en-France and Nimes. The purchaser is an […]
Henderson European Focus Trust has published accounts for the year ended 30 September 2015 that show it outperforming its benchmark. The net asset value total return for the year was 5.3% compared to a total return from the FTSE World Europe ex UK Index of -1.2%. The ordinary share price total return was 5.2%. They also announced […]
Matthew Read, senior analyst at QuotedData, analyses how two different trusts invested in Japan are benefiting – or not – from the country’s internationalisation and Shinzo Abe’s three arrows reform agenda. As Japan enters another recession, more fears surface about whether Abenomics is really working, with the country yet to show it has succeeded in […]
Hg Capital, the Manager of Hg Capital Trust, has announced that it has agreed the sale of TeamSystem Holding SpA, a leading provider of business critical, regulatory driven software products to accountants, HR professionals and SMEs in Italy, to Hellman & Friedman LLC, a leading private equity investment firm. Hg Capital intends to retain a […]
K&C REIT, which was admitted to AIM on 3 July 2015, has released its annual results for the year ended 30 June 2015. On its admission to AIM, the Group issued 43,035,622 ordinary shares, including 35,663,400 shares issued at 10 pence per share pursuant to a fundraising, generating gross cash proceeds of £3,566,340. Shortly after […]
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