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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).

21 Jan 2016

Kennedy Wilson Europe Real Estate sells Avon Loan portfolio for £100.3m

Kennedy Wilson Europe Real Estate has announced that it has completed the sale of the Avon Loan Portfolio for £100.3m. The sale is to a UK infrastructure fund and reflects an exit yield of 6.5%. Net cash proceeds amount to £99.1m. The Avon loan portfolio was acquired on June 2014 for £93.5m, reflecting a yield […]

Sectors
21 Jan 2016

The best year for The Independent Investment Trust since 2002

The Independent Investment Trust, managed by Max Ward (pictured), has announced its annual results for the year ended 30 November 2015. During the period, the trust produced an NAV total return of 28.1%, outperforming both the FTSE All-Share Index and The FTSE World Index, which produced total returns of 0.6% and 2.6% respectively. In terms of […]

Sectors
21 Jan 2016

Henderson Smaller Companies posts modest outperformance due to stock selection

Henderson Smaller Companies, managed by Neil Hermon (pictured), has announced its interim results for the six-months ended 30 November 2015. During the period the company’s NAV total return was -1.0% thereby beating its Numis Smaller Companies (excluding investment companies) benchmark, which fell 3.3% on a total return basis. The Company’s share price total return declined […]

Sectors
20 Jan 2016

JPMorgan Senior Secured Loan 50% tender triggered

JPMorgan Senior Secured Loan has announced that it looks as though a 50% tender will be triggered. The Board says it wants to remind shareholders that when JPMorgan Senior Secured Loan was launched its prospectus included a commitment to make a redemption offer giving shareholders the opportunity to redeem up to 50 per cent. of […]

19 Jan 2016

New deputy adviser for John Laing Infrastructure

John Laing Capital Management has appointed Gianluca Mazzoni as the Deputy Investment Adviser to John Laing Infrastructure Fund, in charge of Business Development. He will report to Andrew Charlesworth, John Laing Infrastructure’s Investment Adviser. Gianluca, who joins John Laing Capital Management this week, will be dedicated to John Laing Infrastructure and will be responsible for developing new […]

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

HgCapital Trust to invest in £24.9m in Sovos Compliance

HgCapital, the Manager of HgCapital Trust has announced that it has made a majority investment in Sovos Compliance, a global provider of regulatory tax compliance software. HgCapital is the lead investor, alongside Vista Equity Partners. The terms of this transaction were not disclosed. HgCapital Trust is investing in Sovos alongside other institutional clients of HgCapital, […]

18 Jan 2016

TwentyFour Select Monthly says no significant concerns about dividend

TwentyFour Select Monthly Income has released its annual results for the year that ended on 30 September 2015. Over that period the NAV total return was 0.7%. the share price fell by 6.0% and the company declared dividends totalling 6.53p (ahead of their 6p target for the year). Despite the falling share price, the company […]

18 Jan 2016

Bankers does well, raises dividend for 49th year

Bankers Investment Trust has published results for the year ended 31 October 2015. Over the year the net asset value rose by 5.7%, the share price by 9.9% and the dividend was increased by 6.8% to 15.8p (making the 49th consecutive year of dividend increases). They say all of their major geographic portfolios exceeded their local […]

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

Project Finance Investments invests in residential property

Project Finance Investments is investing in an asset backed deal secured against UK residential property. It has announced that it is committing to subscribe up to £12m for loan notes issued by Project Finance Investments (UK) Limited, a wholly owned subsidiary of the Company. The proceeds of the Loan Note issue will be used to […]

18 Jan 2016

BlackRock North American beats benchmark by avoiding oil exposure

BlackRock North American Income Trust reports performance just ahead of its benchmark for the year ended 31 October 2015. the NAV total return was 4.9% vs. 4.1% for the Russell 1000 Value Index. The share price total return was 4.7%. The total dividend for the year rose by 7.5% to 4.3p. The Board are asking […]

Sectors
15 Jan 2016

British Empire takes on 20 year debt

British Empire has announced that it is taking on 20 year debt. The company says the Board (headed up by Strone Macpherson – pictured) have agreed to issue 20 year unsecured private placement notes in two tranches. The first tranche is £30m and the second is €30m (equal to £22.6m at the closing exchange rate on 14 January […]

Sectors
15 Jan 2016

BlackRock Income & Growth beats benchmark by 10%

BlackRock Income & Growth has published its results for the year ended 31 October 2015. Over the year the fund beat its benchmark by more than 10%. The NAV total return was 13.5% and the share price total return 13.5% but the total return on the FTSE All-Share was 3.0%. The dividend for the year […]

Sectors
Companies
14 Jan 2016

Ecofin suffers as Lonestar collapse amplified by gearing

Ecofin Power and Water Opportunities has published results for the year ended 30 September 2015. The value of their portfolio fell 24.0% over the financial year but, due to the effect of the gearing provided by the Convertible Unsecured Loan Stock, Zero Dividend Preference Shares and bank debt, the net asset value per ordinary share declined by […]

14 Jan 2016

BlueCrest AllBlue’s board is proposing to move the mandate to JPMorgan

The board of BlueCrest AllBlue has provided an update on the continuation proposals for the fund. The board says that having completed its review of manager proposals received by the Company and consulted with its major shareholders, it proposes to recommend the replacement of its existing management arrangements with a mandate given to J.P. Morgan […]

14 Jan 2016

Chenavari Capital Solutions suffers from discount widening

Chenavari Capital Solutions has released its accounts for the year ended 30 September 2015. Over the period the NAV total return was 7.7% and they paid dividends of 7.5p. At the end of the period the shares were trading on a discount of 1.2%. down from an 8.7% premium at the start of the year. […]

14 Jan 2016

Phoenix Spree reports valuation uplift

Phoenix Spree Deutschland’s property portfolio was valued by Jones Lang LaSalle GmbH as at 31 December 2015, at €282.8m, up from €245.3m the year before.  This represents an increase of 15.3% over the twelve-month period. This increase in valuation reflects yield movement and adjustments due to improved property condition; rental income increases; decreasing vacancy; market rent adjustments; […]

Sectors
14 Jan 2016

HICL Infrastructure adds to Southmead hospital stake

HICL Infrastructure has acquired a further 12.5% interest in the Southmead Hospital PFI Project from funds managed by Aberdeen Asset Management Group for a consideration of £25.3m.  As a consequence of the acquisition, HICL now holds a 62.5% interest in the Project. The Project is a £430m, 35 year concession to design, build, finance, operate […]

13 Jan 2016

Woodford Patient Capital is considering raising further capital

Woodford Patient Capital Trust, managed by Neil Woodford (pictured), has provided an update to investors which advises that the trust has now deployed the proceeds from its IPO (the trust listed on the LSE in April 2015 raising £800m) and that it has a substantial ongoing pipeline of investment opportunities. The company says that, with […]

Sectors
11 Jan 2016

NextEnergy Solar acquires three new plants for £61.7m

NextEnergy Solar Fund has announced that it has acquired of a portfolio of three operating plants totalling 53MWp for £61.7m (including transaction costs plus working capital). The Plants were all connected to the grid during the first quarter of 2015 and are operating under the 1.4 ROC regime. Green End (pictured) is located in Cambridgeshire […]

11 Jan 2016

Duet announces cash return after loan repayment

On 5 January Duet Real Estate Finance announced that a loan it had made against some German hotels (loan 12) had been repaid early, resulting in a cash inflow for the fund and an uplift in NAV thanks to early repayment penalties. The Company’s share of proceeds realised totalled £11m, equivalent to 15.29 pence per share. This […]

Sectors
11 Jan 2016

Ludgate environmental sells Ignis Biomass for £4m

Ludgate Environmental Fund has announced that it has entered into an agreement to sell the entire issued capital of Ignis Biomass Ltd to Equitix for £4m. Of this, £2.4m is payable on completion of the sale and £1.6m is deferred pending the achievement of certain performance conditions. The company says that additional payments may also […]

11 Jan 2016

Summit Germany acquires office buildings in Munich and Duisberg

Summit Germany has announced that it has acquired two office buildings, one in Munich and the other in Duisburg, for a total purchase price of €15m (including acquisition costs). The company says that the properties consist of approximately 12,000 square metres of lettable area and are fully let to several strong tenants with a weighted […]

Sectors
08 Jan 2016

Hammerson sells Villebon 2 for €159m

Hammerson has announce that it has exchanged contracts to sell the Villebon 2 retail park to a consortium of French institutional investors for €159m (£116m). Villebon 2 is located in Villebon-sur-Yvette, in the south of Paris region. The park covers 47,500 square metres and was acquired by Hammerson in 2005. Hammerson say that it has […]

Sectors
08 Jan 2016

Miton Global Opportunities underperforms in first half

Miton Global Opportunities, formerly Miton Worldwide Growth Investment Trust PLC, has announced its interim results for the six-months ended 31 October 2015. During the period, the company’s NAV total return was -4.4% and its share price total return was -2.8%. These compare against a return of -3.6% on the MSCI world and a 1.3% return […]

Geographies
  • UK
  • Europe (EU and EEA ex UK)
  • Asia
  • Australia and New Zealand
Sectors
Companies
06 Jan 2016

Change of name for Miton Worldwide Growth

Miton Worldwide Growth Trust’s Board has changed its registered name to “Miton Global Opportunities plc”. The Directors think the Company’s name should be simplified and more accurately reflect the investment approach. In addition to the change of name, the Directors have agreed to appoint Frostrow Capital LLP to provide distribution and marketing, company secretarial and accounting […]

Sectors
06 Jan 2016

Record copper production for Central Asia Metals in 2015

Central Asia Metals plc produced a record 12,071 t of copper at its Kounrad dump leach, solvent extraction and electro-winning copper recovery plant, in Kazakhstan, in 2015, an 8.4% increase on 2014. Q4 15 production was 3,661 t of copper, representing a 36% increase from Q4 14. The company sold 12,040 t of copper cathode […]

05 Jan 2016

Renewables Infrastructure buys French solar portfolio

The Board of The Renewables Infrastructure Group has announced it will buy a portfolio of French solar assets. An agreement has been reached between Renewables Infrastructure and Akuo Energy Group for an investment in a portfolio of 15 operating (brownfield) French solar photovoltaic (PV) projects. Akuo is one of France’s leading independent renewable energy producers. The deal comprises the […]

05 Jan 2016

Custodian REIT acquires property portfolio for £55.1m

Custodian REIT has announced that it has acquired a portfolio of nine properties for £55.1m. The Portfolio comprises four retail sites in Colchester, Guildford, Portsmouth and Winnersh, three industrial properties in Chepstow, Redditch and Warrington, and two offices in Edinburgh and West Malling. The average lot size is £6.1m and the occupiers include House of […]

04 Jan 2016

UK Commercial Property Trust acquires properties in Newcastle and Glasgow

UK Commercial Property Trust has announced that it has separately acquired two new properties. The first is the Central Square office building in Newcastle, which has been acquired at a cost of £21.6m, which reflects a net initial yield of 6.4%. The building, which has 72,389 square feet of office space is multi-let to a […]

04 Jan 2016

Phaunos sells Green Nature Forestry China

The Board of Phaunos Timber Fund has announced the sale of 100% of the equity shares of Green Nature Forestry Company Limited for USD 2.85m. The sale includes properties owned by Green China (Jiangxi) Forestry Company Limited, a wholly owned subsidiary of GNFC established in Nanchang, Jiangxi, China comprising of approximately 58,000 mu or 4,000 ha of […]

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