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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).

01 Feb 2016

TwentyFour Income announces fundraising and redemption opportunity

TwentyFour Income Fund has announced a placing, offer for subscription, open offer and placing programme of new ordinary shares and an opportunity for shareholders to elect to realise some or all of their investment in the Company. A prospectus has been published providing details of the issue. TwentyFour Income Fund Limited was launched on 6 […]

01 Feb 2016

HgCapital takes majority stake in Kinapse

HgCapital, the manager of HgCapital Trust, has announced that it has made a majority investment in Kinapse, a global provider of advisory, capability building and operational services to the life sciences industry, headquartered in London. HgCapital Trust will invest in Kinapse alongside other institutional clients of HgCapital, who will participate through the HgCapital 7 Fund. […]

01 Feb 2016

Ediston property acquires the Citygate building in Newcastle for £18.95m

Ediston Property Investment Company has announced that it has acquired the Citygate building (pictured), a modern office building in Newcastle, for £18.95m (net of acquisition costs). The company says that the purchase reflects a net initial yield of 6.57% and will be funded from a combination of cash resources and an increase of £12.42m in […]

29 Jan 2016

Oakley Capital Investments posts NAV growth of approximately 9% during H2 2015

Oakley Capital Investments has provided a trading update for the 12 months ended 31 December 2015. The company says that its NAV per share (unaudited) is expected to be in the range of £1.98 – £2.00, which represents an increase of approximately 9% on the end of June 2015 figure. Oakley Capital Investments invests alongside […]

Sectors
29 Jan 2016

Marked outperformance from Vietnam Holding during H2 2015

VietNam Holding has announced its interim results for the six months ended 31 December 2015. During the period, the company’s NAV rose 6.6% and its share price rose 6.4% both beating the Vietnam All Share Index, which fell 2.6%. The discount widened modestly during the period from 13.0% to 14.1% but the board say that […]

Sectors
29 Jan 2016

VPC Speciality Lending C-share meets conversion criteria

VPC Specialty Lending, chaired by Andrew Adcock (pictured) has announced that over 90 % of the net proceeds from its existing C share issue (admitted to trading on 2 October 2015) have now been invested and, reflecting this, the Board anticipates that the conversion will take place on 4 March 2016. The new ordinary shares, arising from […]

Geographies
  • North America
  • UK
  • Europe (EU and EEA ex UK)
28 Jan 2016

Toro gets off to good start but moves to discount

Toro has published its first set of accounts, covering the period from 2 March 2015 to 30 September 2015. It raised €331.8m (gross of issue costs) on 8 May 2015 when it IPOd. There were two additional placings made during the Period, €16.4m (gross of issue costs) on 17 July 2015 and €8.8m (gross of issue costs) […]

Geographies
  • UK
  • Europe (EU and EEA ex UK)
  • North America
28 Jan 2016

Custodian REIT sells Madison Place office space in Manchester for £1.35m

Custodian REIT has announced that it has sold a 7,333 square foot purpose-built office on Madison Place Business Park, Manchester for £1.35m, which is £0.15m ahead of its 30 September 2015 valuation. Prior to marketing, the lease term with Central Manchester University Hospitals NHS Foundation Trust was extended from four years to 10 years. The […]

28 Jan 2016

John Laing Infrastructure purchases 40% stake in Barcelona Line 9 Section II

John Laing Infrastructure Fund has announced that it has completed the purchase of a 40% stake in the Barcelona Line 9 Section II metro project, an agreement that was initially announced in December 2015. The consideration of the acquisition was the Euro equivalent of approximately £85m and was funded through JLIF’s existing cash resources and […]

Geographies
  • UK
  • Europe (EU and EEA ex UK)
  • North America
28 Jan 2016

F&C Managed Portfolio beats UK market

F&C Managed Portfolio Trust has published interim results for the six months ended 30 November 2015, announcing a net asset value total return of -5.1% for the Income shares and -2.4% for the Growth shares compared to the FTSE All-Share Index return of -6.4%. The key drivers of the performance of the Growth Portfolio were […]

Geographies
  • UK
  • Europe (EU and EEA ex UK)
  • North America
  • Asia
Sectors
Companies
28 Jan 2016

Reconstruction Capital selling Albalact

Reconstruction Capital II has announced that it is selling its 25.4% fully-diluted interest in Albalact SA, a publicly quoted Romanian dairy company, to Lactalis. Lactalis is a dairy manufacturing world-leader company owning many successful international brands such as “President”, “Parmalat”, and “Galbani”. The Lactalis group now employs 75,000 people, and owns more than 200 plants, located in […]

28 Jan 2016

Shaftesbury gets planning for 57 Broadwick Street

Shaftesbury PLC, the West End-focused Real Estate Investment Trust, announces that Westminster City Council’s Planning Committee yesterday evening resolved to grant consent for the Group’s application to reconfigure and extend 57 Broadwick Street, Carnaby, a prominent building at the eastern gateway to Carnaby. Their scheme for the building, which was acquired in March 2014, provides […]

Sectors
27 Jan 2016

Ediston Property has an EPIC start – returns 13.7% in first year

Ediston Property Investment Company, which listed on 28 October 2014, raising initial gross proceeds of £95m has announced its first set of full year results for the year ended 30 September 2015. During the period, the total return on the company’s EPRA NAV was 13.7% whilst its share price total return was 14.3%. Its NAV […]

27 Jan 2016

Tritax Big Box REIT is targeting a fundraise of a further £100m

Tritax Big Box REIT has announced that it is targeting a fundraising of £100m through a placing, open offer and offer for subscription, of new ordinary shares. Tritax says that it expects to use the net proceeds of the issue to acquire further investments. The issue price of 124p per ordinary share represents a discount of […]

27 Jan 2016

Carador’s target annual dividend is reduced to US$0.90 per share

Carador Income Fund has provided an update on its dividend strategy and outlook for 2016. The company says that, on the basis of current market conditions and the construction of the Company’s portfolio, the Directors anticipate that for 2016 the Company will achieve a target annual dividend of $0.090 per U.S. Dollar Share (distributed evenly […]

27 Jan 2016

Aberforth Smaller Companies matches benchmark in 2015

Aberforth Smaller Companies has published its results for the year ended 31 December 2015 (pretty fast!), over 2015 the net asset value total return was 10.2%, more or less matching the 10.6% return posted by the Numis Smaller Companies (excluding investment companies) Index that the fund uses as its benchmark. The share price return was […]

Sectors
27 Jan 2016

Better Capital 2012 increases CAV investment

Better Capital’s 2012 pool has increased its investment in CAV Aerospace. They say CAV, working with its key stakeholders, has been able to take steps to release a significant amount of previously tied-up working capital and to make important operational changes which should lead to improved performance. In order to achieve the above, the General Partner […]

27 Jan 2016

Debt funds dominate investment trust launches

Debt funds dominated new launches in the investment trust space last year, accounting for 40 per cent of new funds. Research from QuotedData found that 10 of the 25 investment companies launched in 2015 were in the debt sector, following the popularity of the online lending market. https://www.fundstrategy.co.uk/debt-funds-dominate-investment-trust-launches/

26 Jan 2016

Global Resources raising cash

Global Resources Investment Trust is raising cash by making a firm placing of 270m shares at 2p per share (195m of which are being issued to Primestar (see below) and 75m to RDP Fund Management (GRIT’s fund manager). Shareholders will be able to subscribe for 15m shares at 2p in an open offer plus up […]

26 Jan 2016

Investment trust discounts tightening

Investment trust discounts tightening The median discount to net asset value (NAV) for investment trusts narrowed over 2015 from 7.5 per cent to 6.6 per cent, reports research company QuotedData, despite last year’s market volatility… http://www.investorschronicle.co.uk/2016/01/21/funds-and-etfs/investment-trusts/investment-trust-discounts-tightening-KAUxruI6hfHsZJAGEbL7iP/article.html

26 Jan 2016

FastForward purchases stake in Schoold

FastForward continues to build its portfolio, announcing today a $1m purchase of a 9.1% stake in Vested Finance Inc., an education technology provider trading under the brand “Schoold”. Vested Finance is the developer and owner of the “Schoold” mobile technology application, a big-data driven College & career counsellor App focused on higher education and career options […]

26 Jan 2016

Advance Developing Markets outperformance driven by fund selection

Advance Developing Markets has announced its annual results for the year ended 31 October 2015. During the year, the Company’s NAV declined by 8.1% compared thereby outperforming its MSCI Emerging Markets Index benchmark, which fell 11.4%. The share price fell by 9.5%, which reflects a modest widening in the discount. The average discount during the […]

Sectors
26 Jan 2016

Bluefield Solar makes six acquisitions with new credit facility

Bluefield Solar has secured an amended credit facility agreement and has made six acquisitions (three of which were announced in December). The six additional solar photovoltaic plants have an energy capacity totalling 104.5 MWp. The total consideration is £149m, including transaction costs, debt costs and working capital and they are using their new credit facility to fund this. The new credit […]

25 Jan 2016

Drum Income Plus REIT is fully invested and considering raising further capital

Drum Income Plus REIT has provided an update that covers the period from its launch on 29 May 2015 to 31 December 2015. The company listed on the London Stock Exchange on 29 May 2015 raising gross proceeds of £31.9m. During the period to 31 December 2015, the company acquired four properties for total of […]

25 Jan 2016

Damille II remains focused on discount opportunities

Damille Investments II has announced its annual, results for the year ended 30 November 2015. During the period, the company’s NAV per share fell by 1.2% to 102.15p per share (30 November 2014: 103.35p). The portfolio remains focused on discount opportunities. The company’s shares have consistently traded at a discount during the last twelve months […]

Sectors
25 Jan 2016

Electra announces to review all options for maximising long term shareholder value

Electra Private Equity has announced that it is reviewing the Company’s investment strategy and policy and its structure. The announcement says that the review “will look at all options for maximising long-term shareholder value” although it does not give additional detail on what these various options might be. However, the board say that they presently […]

25 Jan 2016

Aurora – new management agreement agreed, no tender as shares are trading at a premium

Aurora Investment Trust has provided and update regarding change of manager, tender offer and appointment of Corporate Broker. The Company confirms that it has now agreed the provisions of the new investment management agreement appointing Phoenix Asset Management Partners Limited as the Company’s investment manager in accordance with the terms previously announced. The appointment is […]

Sectors
22 Jan 2016

Hammerson acquires Grand Central in Birmingham for £335m

Hammerson has announced that it has exchanged contracts with Birmingham City Council to acquire the new Grand Central shopping centre in Birmingham for £335m. The company has also said that it is in advanced discussions, with an existing joint venture partner on other assets, about entering into a 50:50 joint venture for the future ownership […]

Sectors
22 Jan 2016

HICL Infrastructure invests a further £4.1m in the Sheffield Schools PFI Project

HICL Infrastructure has announced that it has made an incremental investment in the Sheffield Schools PFI Project in conjunction with its existing joint venture partner, Kajima Partnerships Limited, from the Kier Group Pension Scheme for a consideration of £4.1m. The HICL Group and KPL have an existing joint venture holding company, in which the HICL […]

22 Jan 2016

River & Mercantile UK Micro Cap gets off to a good start

River & Mercantile UK Micro Cap, managed by Philip Rodrigs (pictured) has announced its annual results for the period ended 30 September 2015. The trust, which was admitted to trading on the London Stock Exchange on 2 December 2014 having raised £50.6m, has during the ten months to 30 September 2015 grown its NAV to […]

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