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).
NextEnergy Solar Fund has announced plans to issue and then immediately repurchase into treasury of 30,850,000 new shares. Over time the shares can then be sold out of treasury, which the company says will give it the flexibility to raise additional capital in an “efficient and cost-effective manner”. The company says the shares will be […]
Scottish Mortgage has reported interim results for the six months ended 30 September 2015. It was a period of falling markets – the FTSE All-World Index fell by 11.8%. Scottish Mortgage did a little better, its NAV fell by 10.9% over the period and the share price fell by 9.7%. The interim dividend is being […]
Kennedy Wilson Europe is offering €300m of 3.25% senior unsecured notes due 2025 as the first part of a £2bn programme of bond issuance announced yesterday. The Euro Medium Term Note Programme allows Kennedy Wilson Europe to issue, from time to time, up to £2,000,000,000 of various types of debt securities in certain markets and currencies. Kennedy […]
Over the year to the end of August 2015, Fidelity Special Values generated a return on net assets of 7.4%, well ahead of the -2.3% return posted by its benchmark. The return to shareholders was even better at 12.4% as the discount narrowed from 6.3% to 2.0%. The dividend was increased from 3.3p to 3.35p. […]
London & St Lawrence has published results for the year ended 31 August 2015. Over that period the total return on net assets was -0.5%, which compares well with the -5.6% return on the FTSE All-Share Index. The shares moved from trading on a 2.5% premium to a 1.2% discount though and so the return to shareholders […]
3i Infrastructure has published interim results covering the six month period that ended on 30 September 2015. It generated a total return on net assets of 6.5% over the period (adjusting for the payment of a special dividend at the end of July). The interim dividend is 3.625p – in line with their objective of […]
BlackRock North American Income Trust has announced that it has reached an agreement on a revised fee basis with the trust’s manager. From 1 November 2015, the management fee will be 0.75% of the Company’s net assets. Where the Company invests in other investment or cash funds managed by BlackRock, any underlying fee is rebated. […]
International Biotechnology Trust has announced results for the year ended 31 August 2015. Over this period the NAV return was 48.2% which compares very favourably to the return on IBT’s benchmark, NASDAQ Biotechnology Index, which returned 33.6%. The share price did even better as the discount narrowed from 20.5% to 6.0% and shareholders got a return […]
Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, has announced that it has entered into a HK$282 million (US$36.3 million) five-year loan facility with Hang Seng Bank for its properties in One Central Residences. The new loan facility serves to finance the repayment of tranche 1 of the original loan which matures on 25 […]
Gresham House is to buy Aitchesse, a specialist UK commercial forestry manager, as it continues on its path of transforming itself into a specialist asset management business. A subsidiary, Gresham House Holdings Ltd. (GHHL), has agreed to acquire Aitchesse funded from a combination of cash, loan notes and Gresham House shares. On completion, the Company […]
Shareholders in British private equity firm Electra voted in favour of activist investor Edward Bramson and Sherborne’s Chairman, Ian Brindle being appointed to the board at a general meeting today. Shareholders voted 53.5 percent in favour of the resolution by Bramson’s investment vehicle Sherborne to appoint Bramson to the board. Sherborne Investors, which owns 30 per […]
Aberdeen Latin American Income Fund has announced its results for the year ended 31 August 2015. During the year the companies NAV total return was -36.8%, which is behind that of the company’s composite benchmark (a fall of 32.2%). Share price total return was -32.3%. The report cites a difficult year for Latin American markets […]
UK Mortgages Limited, which listed on the LSE on 7 July 2015 raising £250m, has announced that it has signed an agreement for its first transaction. The transaction is with the Coventry Building Society Group. Under the terms of the transaction, UK Mortgages will invest in profit participating notes (PPNs) issued by a dedicated acquisition […]
Hammerson has announced that it is to exercise its option to redeem its 5.25% Bonds, due 2016, early. The issue has a par value of £300m. This announcement follows the announcement on 21 October that Hammerson had completed a 10-year bond issue for £350m. The company says that its 5.25% 2016 Bonds will be redeemed […]
GCP Infrastructure Investments has announced that it has completed a transaction in which it has subscribed for a loan note with an expected term of approximately 35 years and an initial value of up to £25.5m (when fully drawn). The Company advanced approximately £1.4m on the completion of the transaction and the majority of the […]
SQN Asset Finance Income Fund has announced that its C-share offer has completed raising £180m for the company. The issue was oversubscribed and so the company has scaled back applications in accordance with the terms set out in the Prospectus. The company says that the proceeds will be used to invest in a pipeline of […]
Lonmin plc has guided that it will more than halve its asset value and take an impairment charge of between US$1.85-2.05 billion when it releases it results for the financial year ended 30 September 2015, on 9 November. This follows the company’s adoption of a new business plan and financial restructuring that concentrates on lower […]
Electra proceeds with mandatory conversion – Electra Private Equity announced on 23 October 2015 its intention to exercise the mandatory conversion option in its 5% subordinated convertible bonds due 2017. The exercise of the option will automatically and mandatorily convert all of the outstanding Bonds into new ordinary shares of Electra. Electra has now announce that […]
Edinburgh Dragon Trust has announced its final results for the year ended 31 August 2015. During the year the trust’s NAV fell 12.4%, in total return terms, underperforming its MSCI All Country Asia (ex Japan) benchmark which fell 9.1% (all in sterling terms). During the period, the share price fell by 12.8% to 235.8p, as […]
NextEnergy Solar Fund has announced that it has exchanged agreements to purchase three plants, Ellough Solar 2, Decoy and Hall Farm, with capacity of 18.0MWp and an investment value of £18.1m. The 8.0MWp Ellough Solar 2 will be an extension of the company’s existing Ellough plant (pictured). The plant is expected to be connected ahead […]
Real Estate Investors has announced the acquisition of three properties located in the West Midlands for £22.23m. The acquisitions provide a net initial yield of 8.22% with a weighted average unexpired lease term (‘WAULT’) of 8.49 years. The properties produce a total annual rental income of £1,932,995 and the company says that there are a […]
Custodian REIT has announced that it has acquired the ground floor and part of the first floor of a leisure development in Abbey Sands, Torquay (pictured). The investment comprises four food and drink outlets on the seafront, close to the marina and town centre, let to Le Bistro Pierre Limited, Las Iguanas Limited, Loungers Limited […]
John Laing Environmental Assets has announced the acquisition of a 4.2 MWp solar energy generation portfolio for £18.8m. The portfolio comprises 796 systems of residential rooftop, commercial rooftop and commercial ground mounted solar PV installations, distributed across England, Wales and Scotland. The portfolio benefits from the UK feed-in tariff for 25 years from the date […]
Seneca Global Income & Growth Trust, managed by Alan Borrows and Simon Callow (pictured), has announced that it has put in place a two year short term rolling debt facility of £7m. The new facility replaces the two year short term rolling debt facility which expired on 31 October 2015. The margin on the new facility is […]
The Board of Baillie Gifford Shin Nippon has announced that Baillie Gifford, the Company’s Investment Manager, will appoint Praveen Kumar as portfolio manager of Baillie Gifford Shin Nippon PLC with effect from 1 December 2015. After eight years as portfolio manager of Baillie Gifford Shin Nippon, John MacDougall will take up another role within the […]
Manchester & London has published results for the year ended 31 July 2015. These show that the fund just outperformed its benchmark, the Dow Jones U.K. Total Stock Market Total Return Index, returning 5.0% on net assets vs. 4.8% for the index. The Directors are proposing a final ordinary dividend per share of 1.70p and […]
Aurora Investment Trust has published a half year report covering the six months ended 31 August 2015. The FTSE ALL-Share index declined by 8.3%, whereas the FTSE100 Index, on account of its high exposure to oils and commodities, fell by 10.0%. In comparison the Net Asset Value of the portfolio reduced by 5.7%. Management of […]
Having successfully implement its investment policy in accordance with Rule 15 of the AIM rules, Kuala Innovations has fully invested all the money it had available. The Directors have proposed that the Company change its name to Fast Forward Innovations Limited (subject to shareholder approval) seemingly calling itself after Jim Mellon’s book “Fast Forward”. KUL […]
Scottish Oriental Smaller Companies has published results for the year ended 31 August 2015. Over that period it outperformed the MSCI AC Asia ex Japan Index and MSCI AC Asia ex Japan Small Cap Index, returning -8.4% against -9.1% and -9.4% for the indices respectively. The dividend was maintained at 11.5p – the Board say it […]
Kennedy Wilson Europe Real Estate has conditionally acquired a portfolio of nine offices in Italy fully let to the Italian government. The portfolio is being acquired from InvestiRE SGR, as the management company of the closed-end mutual property investment fund known as Fondo Immobili Pubblici (“FIP”). The portfolio net purchase price is EUR185.5 million, reflecting […]
Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.
Due to data protection policies, USA residents can not access our data.
Your content has been curated