Empiric Student Property reports death of chairman –  The Board of Empiric Student Property plc says that it is deeply saddened to announce that its non-executive chairman has died. Stuart Beevor, a non-executive director of the company, has agreed to assume the role of acting non-executive chairman with immediate effect. Mr Beevor said:  “We are all deeply […]

First year results for LMS Capital with new investment manager – In August 2016, LMS Capital (LMS) appointed Gresham House Asset Management Limited as its investment manager to carry out the new investment policy and to manage the company’s assets on a discretionary basis. Please click here to see our report on the proposal at the time. […]

Strong performance from stock selection for shareholders of Fidelity European Values – As well as the NAV of the company beating its benchmark and a narrowing of the discount, the  highlights of the final report for Fidelity European Values (FEV) included a new and lower management fee structure and an increase in the dividend. In addition, the […]

2017 a better year for BlackRock Latin American’s shareholders –  after a disappointing 2016, the performance of the NAV of BlackRock Latin American (BRLA) was ahead of the benchmark in 2017 but the discount remains stubbornly high. Performance Over the year ended 31 December 2017 the company’s NAV returned 29.0% in US dollar terms (17.7% in sterling […]

JZ Capital Partners sale of Paragon adds 0.4% to NAV– JZ Capital Partners (JZCP)  announce the sale of Paragon Water Systems, Inc. to Culligan Water representing an increase in NAV of approximately 0.4% , as of 31 January 2018. The transaction follows the recent announcement (as we previously reported) that JZCP is to sell Bolder Healthcare Solutions […]

Stock split proposed for soaraway Shin Nippon – Baillie Gifford Shin Nippon has extended its impressive run of results with a 46.1% increase in its NAV over the year to 31 January 2018 and a 54.2% increase in its share price over that period. By contrast, its comparative index, the MSCI Japan Small Cap Index, […]

Hansteen has announced that the Secretary of State for Transport has acquired Saltley Business Park, Birmingham from a subsidiary of the Company, by way of a compulsory purchase order. This has taken place under the High Speed Rail (London – West Midlands) Act 2017, to enable construction of the first phase of the HS2 route. […]

Witan has announced its annual results for the year ended 31 December 2017. During the period, the trust provide an NAV total return of 19%, thereby outperforming its benchmark’s return of 15.1%. The trust discount to NAV reduced during the period from 4.0% to 1.6% at the year-end. The dividend increased by 10.5% to 21.0p. […]

New discount control mechanism for JPMorgan Claverhouse – JPMorgan Claverhouse has published its annual results. For the year to 31st December 2017, the net asset total return was +16.2%. This compares with a total return for the same period from their benchmark, the All-Share Index, of +13.1%. During the year, the shareholder total return was +21.8%. The total […]

JZ Capital boosted by Bolder – JZ Capital Partners Limited has announced an agreement to sell Bolder Healthcare Solutions (“BHS”) to a subsidiary of Cognizant, one of the world’s leading professional services companies. Headquartered in Louisville, Kentucky, BHS offers a full suite of healthcare revenue cycle management services to the hospital and physician marketplace in […]

Monks tinkers with management fee – The Board of The Monks Investment Trust has announced a change in the calculation of the company’s management fee, with the introduction of a further stepped tier at GBP1.75bn of total assets*. With effect from 1 May 2018 the annual management fee payable to the Company’s Investment Managers and Secretaries, […]

City Natural Resources revamp includes change of name – City Natural Resources has just published its interim results. The announcement contains the results of review that the fund’s board has undertaken as the fund’s CULS approach maturity. Dividends from capital The Board believes that the level of dividends paid has been a key feature in […]

Tufton buys two vessels – The Board of Tufton Oceanic Assets Limited has announced that the company has acquired two sub-Panamax containerships for $22.8 million. The vessels will have charters of at least two years and three years, respectively. One ship is chartered to part of a major investment grade container shipping group. The other ship will […]

Ranger hit by Princeton bankruptcy – Ranger Direct Lending has announced that it has been informed that Princeton and the General Partner filed voluntary petitions of bankruptcy on 9 March 2018. The filings came hours before the three-judge arbitration panel was to rule on an application for an order requiring Princeton to hold and segregate all revenues […]

CatCo reports on its annus horribilis – CatCo Reinsurance Opportunities has published its accounts covering 2017. The net asset value of the ordinary shares declined by 27.6%. When the company thinks it might face claims in relation to losses, it holds money in ‘side pocket investments’, effectively cash, rather than reinvesting this money in new investments. Due to […]

Secure Income REIT buying £436m portfolio – Secure Income REIT has exchanged contracts to acquire two substantial off-market portfolios at a total cost of GBP436 million. The first portfolio of leisure assets across the UK has a gross cost of GBP224 million representing a net initial yield of 5.9% and with a weighted average unexpired lease term of […]

Murray International outperforms in 2017 – Murray International has published results for 2017. The chairman says that the NAV posted a total return of 14.7%, ahead of the total return of 12.8% from the benchmark (40% FTSE World UK Index and 60% FTSE World ex UK Index). The share price posted a total return of 11.0%, […]

Fundsmith doesn’t want to own the stocks that are going up – Fundsmith Emerging Equities has reported results covering 2017. The net asset value per share total return for the year was +21.2% (2016: +12.0%) and the share price total return was +24.5% (2016: +10.5%). The MSCI Emerging and Frontier Markets Index, measured on a net […]

Capital & Regional resilient in face of challenging retail environment – Capital & Regional has announced its full year results to 30 December 2017. Highlights include: Basic and EPRA NAV per share resilient, both at 67p (December 2016: both 68p) Income growth driving 7.4% increase in total 2017 dividend Adjusted Profit up 8.6% to GBP29.1 […]

Alliance Trust writes off goodwill on Stocktrade deal – Alliance Trust has published its results for the year ended 31 December 2017. These show an improvement in its performance as its equity portfolio outperformed its MSCI ACWI benchmark over the year by 4.2%. This helped drive an NAV total return of 18.5% versus a return of […]

RM Secured Direct Lending on track for March C share conversion – RM Secured Direct Lending has published results covering the period from launch to the end of December 2017. RM Secured Direct Lending plc listed on the premium segment of the main market of the London Stock Exchange on 15 December 2016, issuing 50,300,000 Ordinary […]

BB Biotech remains a top performer in Feb Switzerland’s BB Biotech (BBB.S) recorded a 2% fall in its NAV in February, but achieved a robust 7.8% rise in its portfolio value in the two month year-to-date (YTD) period, on the back of the strong rise in January.  BB Biotech enjoyed the second best investment performance in […]

Foreign & Colonial will change name after 150 years – Foreign & Colonial, which is marking its 150th anniversary, has published results for the year ended 31 December 2017. The year was a good one for F&C’s shareholders. A share price total return of 21% and an NAV total return of 16.9% were both well ahead of […]

Tritax Big Box REIT sees Brexit silver lining – Tritax Big Box REIT has released its results for 2017. Highlights are: Dividends declared in relation to 2017 totalled 6.40 pence per share, in line with targets. Progressive dividend target of 6.70 pence per share announced for 2018. EPRA net asset value per share increased by 10.3% to […]

LXi increases dividend target – The board of LXi REIT (LXI) has announce that the Company has increased its dividend target. The target is being introduced over two time periods. The first one is from the IPO (27 February 2017) to 31 March 2018, when the target total dividend has been increased by 33.3% to 4.0 pence per […]

Stock Split on the cards at European Assets Trust – 2017 was a good year for European smaller companies and for European Assets Trust (EAT). In its final report for the year ended 31 December 2017, the company recorded a share price return of +35.8% and a NAV total return of 22.6%. This compares to the total return […]

OPG Power Ventures weighs on Premier Global Infrastructure returns – Premier Global Infrastructure Trust has published results for the year ended 31 December 2017. The NAV total return for the year was 1.7% which compares to a return of 6.0% on the All-World Utilities Index and 13.8% for the broader All World Index. The discount […]

Aberdeen Smaller Companies returns twice as much as benchmark – Aberdeen Smaller Companies has published results for the year ended 31 December 2017. The company’s NAV rose by 32.9% for the year ended 31 December 2017, on a total return basis, compared to the performance of its benchmark, the Small Cap (ex investment trusts) Index, which […]