UK TMT proves a positive hunting ground for Herald Investment Trust – The Herald Investment Trust (HRI), which invests in smaller Technology, Media and Telecommunications (TMT) companies has delivered its Annual Financial Report to year ending 31st December 2017. The NAV of the Company increased by 26.9% during the year and the share price increased […]
FSFL chasing the Sun to the Southern Hemisphere – Solar power plant operator Foresight Solar (FSFL) has released its full year’s results to 31st December 2017. The company’s foray into the Australian market, where there are four plants under construction represents their first international acquisitions. Further developments outside the UK are expected. In the report, the […]
NewRiver REIT acquires two retail parks for £26 million – NewRiver REIT (NRR) has announced that it has completed the acquisition of two retail parks for a combined consideration of £26.5 million. The company reports that this represents an initial yield of 8.9% and a capital value of £141 per sq ft. The retail parks are in Dewsbury, West […]
3I Infrastructure Board approves payment of the proposed special dividend. Further to the announcement made on 31 January 2018 of the Company’s intention to return surplus cash to shareholders, the Board of 3i Infrastructure (3IN LN) has approved the payment of a special dividend of £425 million. The Company will return £425 million to shareholders by […]
JPMorgan’s Multi-Asset Trust launch gets £81m rollover – The launch of JPMorgan Multi-Asset Trust (MATE) received a boost today with the news that approximately half of the shareholders of JPMorgan Income & Capital Trust (JPI) have voted to roll over into MATE. JPI is a split capital fund that has reached the end of its fixed term. The roll […]
John Laing Environmental Assets announces £30m bookbuild – Further to the announcement on 12 February 2018 of its intention to undertake a share issuance programme, JLEN has further announced that they will be targeting the raising of £30m via a bookbuild. This is to be used to repay amounts drawn under the revolving credit facility in order to finance […]
Greencoat Renewables buys Lisdowney wind farm – Greencoat Renewables has announced the acquisition of Lisdowney, a 9.2MW wind farm situated in County Kilkenny, for a total consideration of EUR22.5 million. Lisdowney wind farm consists of four Enercon E82 turbines. The wind farm was commissioned in November 2016 and its revenues are contracted under the REFIT […]
Temple Bar says value style still holding it back – Over the course of 2017, the total return on the net assets of Temple Bar was 9.7%, underperforming the total return of the All Share Index of 13.1%. Three interim dividends of 8.33p and a final dividend payment of 17.48p per share give an increase in the total dividend […]
Biotech Growth notches up small rise in Jan, but outlook for Feb is weaker Orbimed-managed Biotech Growth Trust (BIOG) notched up a broadly in-line performance in the otherwise strong month of January, despite seeing a major setback for one of its top 10 holdings. However, its outlook for February is looking weaker, an analysis by Marten […]
Aberdeen Emerging Markets announce positive news and developments – Aberdeen Emerging Markets Investment Company Limited (“AEMC”) has delivered its annual report and accounts to year ending 31st October 2017. In it they reported performance for the 12 month period, as well as some significant changes. Over the year to 31 October 2017, the company’s NAV total […]
Baker Steel Resources sells Prognoz Silver Mine – Baker Steel Resources Trust says that its largest investment, Polar Acquisition Limited has agreed to sell its 90% interest in Polar Silver Resources Limited to Polymetal International plc for US$72 million (to be satisfied in Polymetal shares). In January 2017, Polar sold a 10% stake in its subsidiary […]
Riverstone Energy sells Three Rivers III – Riverstone Holdings LLC, the Manager of Riverstone Energy Limited, has announced that it has agreed to the sale of 100% of the assets in Three Rivers Operating Company III LLC, an Austin, Texas-based oil and gas company focused on the Permian Basin. Riverstone formed Three Rivers III in […]
SEGRO announces final results. SEGRO, a leading owner, asset manager and developer of modern warehousing, light industrial and data centre properties, principally concentrated in London’s Western Corridor (including the Thames Valley) and in key conurbations in France, Germany and Poland, has announced its annual results for the year ended 31 December 2017. The company has […]
Athelney Trust announces final results. Athelney Trust, an investor in small companies and junior markets has announced its final results for the year ended 31 December 2017. Key highlights are an NAV total return of 16.8% (31 December 2016: 5.7%); revenue return per ordinary share of 9.6p (31 December 2016: 10p) and a final dividend […]
Ground Rents fund reinstates its double or inflation offer – On 21 December, the Government announced new measures in response to its leasehold market consultation. It proposed to introduce legislation to prohibit new-build leasehold houses and to set future residential ground rents to zero. It is also to consider introducing a ‘prescribed formula’ that would […]
HBM Healthcare reaps $28m profit on sale of TandemLife stake Swiss-listed HBM Healthcare Investments (HBMN.S) should realise an profit of at least $27.6m on the sale of its holding in the med-tech company TandemLife, as a result of the company’s acquisition by Livanova. HBM Healthcare holds a 16.6% stake in TandemLife, which is carried on […]
Primary Healthcare Properties delivers 10.5% NAV uplift – Primary Healthcare Properties (PHP) has published its results for the year ended 31 December 2017. Highlights were: EPRA earnings increased by 15.7% to GBP31.0m (2016: GBP26.8m) EPRA earnings per share increased by 8.3% to 5.2p (2016: 4.8p) Net rental income increased by 7.1% to GBP71.3m (2016: GBP66.6m) IFRS […]
JPMorgan Convertible manager exits – JPMorgan Global Convertibles Income Fund Limited has announced that Antony Vallee, one of the company’s fund managers, has decided to leave J.P. Morgan Asset Management to pursue other opportunities. The existing investment management team, led by Natalia Bucci and Robin Dunmall will be augmented by the addition of Paul Levene. […]
Brunner – 46 years of dividend growth. Brunner has announced its final Results for the year ended 30 November 2017. Its NAV total return was 19.5%, which is ahead of its composite benchmark index’s return of 15.1%. In terms of specific drivers of performance, the extract from the annual report released this morning does not […]
Trust favourite Biogen hit by AD trial rejig – Shares in Biogen, the neurology-focused US biotech giant and a key holding for many of the sector specialist investment trusts, fell by more than 6% yesterday on heightened concerns over a decision to expand patient enrolment in its two large Phase III trials of aducanumab for […]
IBT key beneficiary of massive BMS-Nektar deal – International Biotech Trust (IBT) looks set to be the main investment trust beneficiary of the massive deal signed today between Bristol-Myers Squibb (BMS) and Nektar Therapeutics covering what had hitherto been – albeit briefly – the industry’s hottest un-partnered cancer drug, NKTR-214. Nektar is the third largest shareholding for […]
UEM relocating to the UK – Having announced on 21 November 2017 that it was considering options for a possible change in its domicile from Bermuda to the UK, the Board of Utilico Emerging Markets Limited (UEM) has decided that it would be in the Company’s best interests to re-domicile the Company to the United […]
Talib Sheikh leaves JPMorgan Asset Management – JPMorgan Income & Capital Trust published a circular on 25 January 2018 in connection with the reconstruction of the company. Shareholders are being offered the choice of: (i) a tax and cost efficient rollover into JPMorgan Multi-Asset Trust plc (“MATE“); and/or (ii) cash. MATE’s portfolio will be managed […]
BBH’s first annual report delivers positive news- BBH has announced results for the year ended 30 November 2017, over the period the total return was 19.3%, an outperformance of 4.9% versus the benchmark (the MSCI World Healthcare Total Return Index in GBP). The total return for shareholders was 20.5%. Total dividends for the year were 3.5p. For the […]
Blackstone GSO Loan Financing comments on US court decision – on Friday, 9 February 2018, the U.S. Court of Appeals for the D.C. Circuit ruled in favour of the Loan Syndications and Trading Association (“LSTA”) in its lawsuit against the U.S. Securities and Exchange Commission (“SEC”) and the Federal Reserve, determining that U.S. CLO managers […]
Aberdeen Asian Smaller considering new CULS issue – The board of Aberdeen Asian Smaller Companies has commissioned its advisers to develop a detailed proposal to the company’s shareholders and CULS holders in relation to restructuring the current CULS. The proposal is currently being formulated but is expected to include: a conversion of the existing CULS […]
Key trust holding Vertex gains US approval for new CF combo Vertex Pharmaceuticals, a leading US biotech specialising in cystic fibrosis (CF) and core holding for most of the sector’s collective investment vehicles, yesterday reported the US FDA approval of Symdeko, its new combination containing tezacaftor/ivacaftor for CF in patients aged 12 and over who are […]
Tufton Oceanic off the slipway – Tufton Oceanic Assets Limited has acquired two feeder containerships for $20.5 million. The vessels are initially chartered for 2-3 years to a major container line which is investment grade. The initial yield is in line with the targets expressed in the company’s prospectus. These are the first investments by […]
Starwood lends against student accommodation scheme – Starwood European Real Estate Finance Limited has committed to a EUR11.25 million whole loan facility to finance a 127 bed purpose built student development scheme in central Dublin. They say that the Dublin student market suffers from a severe structural undersupply of purpose built student accommodation, and the borrower’s aim is to […]
LXi fully invested again after social housing deal – LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Colchester, Essex (74%), Birmingham (17%) and Dover, Kent (9%). The purchase price for this portfolio is GBP6.2 million, reflecting a net initial yield of […]
