Acorn Income Fund has announced its interim results for the six months ended 30 June 2016. During the period, Acorn’s gross assets provided a total return of -8.13%, whilst its NAV total return was -13.95%. Reflecting an increase in the premium to NAV at which the company’s shares traded, the share price total return was […]
Starwood European Real Estate Finance has announced proposals for a new placing programme to issue up to 250m shares and/or c shares. The company’s existing placement programme expires on 6 September 2016 and the board says that it is now considering a new replacement programme at a point later in 2016 or in 2017. The […]
Altin AG has announced its interim results for the six months ended 30 June 2016. The company says that, the portfolio generated negative returns in the first half of 2016. However, for the YTD to end July 2016, the company says that the portfolio recovered a part of the losses to post an NAV return […]
BBGI SICAV has announced its interim results for the six months ended 30 June 2016. During the period, the company’s NAV increased by 8.7% to £521.78m, whilst its NAV per share increased by 8.3% t0 120.8p. The company’s final dividend of 3.0p per share for 2015 resulted in a total payment for the year of […]
Picton Property Income (Picton) has announced that the disposal of one of its City of London office assets, Boundary House, Jewry Street, EC3 completed on 30 August 2016. The disposal proceeds were £27.8m, which the company says is in line with the June 2016 valuation, and will be used to reduce its debt (Picton’s zero […]
Copper under pressure – LME copper stockpiles have hit a 10 month high, most likely due to excess supply moving out of china and into warehouses; Commerzbank said in a report. Hedge funds moved to a net short position for the week of Aug. 23 of 4991 futures and options contracts, according to the US CFTC weekly […]
Anglo American plc has completed the sale of its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia to a consortium led by Taurus Fund Management. The parties have not disclosed the terms of the sale. Foxleigh is an open cut coal operation which produces high quality pulverised coal injection (PCI) coal, located […]
During the first half of 2016, Blue Capital Global Reinsurance’s net asset value decreased by approximately 0.2 per cent. excluding the impact of dividends declared. The NAV moved from US$1.1217 at 31 December 2015 to US$1.0871 per share. Most of the portfolio has been allocated to U.S. wind-related risks, for which the premiums are earned between July […]
EP Global Opportunities Trust, managed by Dr . Sandy Nairn (pictured), has announced its interim results for the six months ended 30 June 2016. During the period, which the trust’s chairman, Teddy Tulloch, describes as being a volatile one for global equity markets, the trust’s NAV per share increased by 5.6%, whilst its share price increased […]
LXB Retail Properties has reported that on 25 August 2016 it exchanged contracts for the sale of its investment at B&Q, Greenwich to a private investor based in the UK. The property is currently let to B&Q Plc until 23 June 2024 at a current rental of GBP2,244,000 per annum. The sale is conditional on […]
During the six month period ended 30 June 2016, Carador Income Fund generated a total NAV return of 2.68%. The NAV started the year at US$0.7231 and ended the first half at US$0.6908, a 4.47% decline, although they also paid a total of $0.0475 per share in dividends over the period. The shares closed the first half of 2016 […]
Target Healthcare REIT Limited has announced that it has completed the acquisition of two modern, purpose built care homes located in Dundee, Scotland and Sandiacre, Derbyshire for approximately GBP14.0 million including acquisition costs. The properties comprise a total of 151 bedrooms with full en-suite bathrooms including wetrooms and opened in 2007 and 2015. A refurbishment […]
Fair Oaks Income Fund says its NAV was down 0.3% over the first six months of 2016 but the share price generated a disappointing 11.3% return. Although the NAV outperformed the JP Morgan B rated CLO Index (-7.7%), it underperformed the US bank loan and high yield indices (+4.2% and +9.3% respectively). July saw a strong recovery in […]
The Board of The European Investment Trust plc announces that Edinburgh Partners has appointed Craig Armour as portfolio manager for the Company in succession to Dale Robertson. Craig joined Edinburgh Partners in 2009. He is an Investment Partner and is responsible for managing several European equity portfolios. Prior to joining Edinburgh Partners he had a […]
NB Distressed Debt has published interim results covering the six months to the end of June 2016. By that point, the NBDD Share Class had returned, through capital distributions, $108.4m or 87% of investors’ original capital of $125.0m by the end of the period. This, when added to the NAV of $40.3m, brings the ratio […]
SEGRO plc has exchanged contracts to sell the Heston & Airlinks Industrial Estate near Heathrow Airport to Capital Industrial Four BV for GBP79.5 million. Heston Industrial Estate is a multi-let industrial estate, located to the north-east of Heathrow Airport close to junction 3 of the M4 motorway, comprising 481,000 sq ft of warehouse space across 47 […]
Industrial Multi Property Trust says its adjusted NAV per ordinary share at 30 June 2016 is 296.2 pence (31 December 2015: 260.6 pence). This increase is mainly due to an increase in the fair value of investment properties which is partly offset by an operating loss due to finance costs. The results for the period […]
The first six months of 2016 was a disappointing period for investors in P2P Global Investments as its share price fell from 1007p to 850p. They paid a total dividend of 25.2p per ordinary share during the period and delivered a NAV return of 2.37%. The Board recognises that investment returns in the first half of […]
ECR Minerals (ECR:AIM) has terminated its Earn-in option in respect of the Danglay gold project in the Philippines. The new government’s lack of support towards the mining industry was indicated as the determining factor in their decision. ECR Minerals is no longer the operator of the Danglay gold project To date ECR has earned a 25% […]
AcenciA Debt Strategies has announced its interim results for the six month ended 30 June 2016. During the period, the company provided an NAV total return of 1.1% but, reflecting a widening of the discount during the period (from 9.3% to 13.9%) its price total return was -3.7%. The company’s chairman, William Scott, says that […]
International Public Partnership (INPP) has announced that it has reached financial close on ten Building Schools for the Future (BSF) interests from Balfour Beatty, investing £72.3m. INPP already held 10% interests in seven of the Balfour Beatty investments in question, and as a result of the transaction has increased its stake to 90% in each […]
TwentyFour Income Fund has announced the results of its placing, which raised £48m (before costs and expenses) through the issue of 43,743,734 new ordinary shares at a price of 109.73p per share. The company says that the placing price represents a premium of 2% to the unaudited NAV of 107.58 pence per share as at […]
At 30 June 2016, Starwood European Real Estate Finance’s NAV was 100.92p and its share price 105.75p. The fund continues to target a dividend at an annualised rate of 6.5 pence per Ordinary Share and has declared a dividend of 1.625 pence per Ordinary Share (6.5 pence annualised) for each of the first two quarters […]
F&C Commercial Property’s net asset value total return for the six month period ended 30 June 2016 was 1.4 per cent and the ungeared total return from the property portfolio was 2.0 per cent. This compares with a total return of 2.6 per cent from the industry benchmark. The changes to Stamp Duty announced in […]
Candover’s net asset value fell by 39.1% over H1 2016 to 148p. In late April, Candover announced the partial realisation by Arle of its investments in Parques Reunidos and Technogym S.p.A, following the initial public offering of Parques in Spain and Technogym in Italy. In the IPO of Parques, Candover sold 7.7% of its interest […]
Glencore has posted its results for the six months ended 30 June 2016 with adjusted EBITDA of US$4.0b, 13% lower than H1 2015, and adjusted EBIT down 38% to US$875b as the group’s commodity production was impacted by lower prices. The company delivered on lowering its costs and reports that 66% of the negative price […]
Hansteen’s interim results for the six months ended 30 June 2016 show its EPRA NAV per share increased by 11.9% to 124.4p over the period. Adjusting this for the dilution effect of their convertible issue, the NAV was 120.5p. They also publish an adjusted EPRA NAV per share, this increased by 8.4% to 120.5p. Normalised Profits (their measure […]
During the six months to 30 June 2016, Phaunos Timber Fund’s unaudited NAV per share has increased by 10.2% from 49 cents to 54 cents. The Group’s total NAV has also increased by US$20.6 million or 7.4% to US$299.4 million from US$278.8 million at 31 December 2015. The chairman says that while this includes a […]
NB Private Equity reports that at 30 June 2016 its NAV was $14.61, up from $14.35 per Share at 31 December 2015. NB Private Equity’s NAV increase of $12.6 million during the first six months of 2016 included: – $18.4 million of yield income and dividends, or $0.38 per Share – $17.2 million of realised gains, or $0.35 […]
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