News

Gresham House Strategic has announced results for the year ended 31 March 2016. Since the new managers were appointed the NAV has returned 1.0% against a return of -2.8% for the FTSE Small cap. and -5.4% for the FTSE All-Share Index. Although they committed to distribute 50% of capital realisation gains through dividend, the board decided that for […]

Better Capital PCC has announced its final results for both its 2009 cell and 2012 cell for the year ended 31 March 2016. The company says that the 2009 Cell made good progress during the year and that this was mainly driven by Gardner’s sustained solid performance. It also says that the disposal of Santia, […]

Industrial Multi Property Trust (IMPT) has published the text of a letter it is sending to its shareholders to update them regarding the proposals the company has received from J Stocks. Rather than cut and paste it, we have attached a pdf of the announcement here. 20160623 Industrial Multi Property – RNS About IMPT IMPT (formerly Alpha UK […]

Damille 2 has announced that, following the AGM held on 4 May 2016 where the continuation resolution failed to pass, the Directors now propose to commence an orderly realisation of the Company’s assets.  This process is expected to take approximately 18 months. Capital will be returned by way of distributions to the Company’s shareholders.  A […]

Hansa Trust, which has published results for the year ended 31 March 2016, says it has had a challenging year, particularly due to its exposure to the Brazilian market and the economic woes that Brazil continues to face. However, there have been a number of bright spots within the portfolio. The NAV has fallen from 1138.6p […]

F&C Global Smaller Companies, chaired by Anthony Townsend (pictured), has announced its annual results for the year ended 30 April 2016. During the period, the trust provided an NAV total return of 3.5% beating its benchmark (a 70%/30% blend of the MSCI All Country World ex UK Small Cap Index and Numis UK Smaller Companies Index), […]

The Brunner Investment Trust announced today that Lucy Macdonald, who has been co-managing Brunner since 2005, will become the manager of the Trust from 23 June 2016.  This follows the departure of Jeremy Thomas who has been co-managing the Trust with Lucy since 2010. Lucy is Chief Investment Officer, Global Equities at Allianz Global investors […]

Following on from its announcement in March, Safestore says the condition necessary to acquire Space Maker Stores Limited has been satisfied and completion of the acquisition is expected by 29 July 2016. The acquisition is expected to be immediately accretive to Group earnings per share from completion and will support the Group’s future dividend capacity. […]

John Laing Infrastructure has announced that it has entered into an agreement with Equitix to sell its entire 50% equity and sub-ordinated debt interest in the Newham Hospital PPP project and its entire 40% equity and sub-ordinated debt interest in the Barnsley BSF project, for a combined consideration of GBP43.3 million. The decision to divest […]

Picton Property has entered into a five year GBP27 million revolving credit facility (“RCF”) with Santander Corporate & Commercial Banking. The RCF, which is similar to the facility set up in March 2015, will provide the Group with greater operational flexibility. In addition to existing undrawn facilities, it can be used to meet the repayment […]

NewRiver Retail Limited  has announced that it has completed the acquisition of Cuckoo Bridge Retail Park, Dumfries off-market from a large listed property company for a total consideration of GBP20.2 million. The acquisition equates to a net initial yield of 7.05%, an equivalent yield of 7.87% and a reversionary yield of 7.93%, with net rental income at […]

John Laing Infrastructure Fund Ltd notes that earlier today John Laing Group plc announced the conditional sale of its Project Management Services activities in the UK to HCP Management Services.  The announcement explains that 62 of John Laing’s Management Services Agreements (“MSAs”) will, subject to John Laing obtaining consents at project level, transfer to HCP […]

Utilico Emerging Markets recovered nearly all the losses it suffered in the first six months of the financial year and ended the year to 31 March 2016 almost unchanged at 202.52p. Based on a total return to an ordinary shareholder who received one subscription share for every five shares held, the total return on basic […]

Henderson Opportunities Trust has published interim figures covering the six months ended 30 April 2016. The company’s net asset value fell by 2.4% over the period, while the FTSE All Share Total Return ( the benchmark) remained flat. The share price fell by 8.8%, which was more than the NAV. At the end of April the […]

In its latest blog, Woodford Patient Capital has commented on the dramatic fall in the price of its largest investment, Circassia. You can read the blog in full here. “[Circassia] has this morning announced the failure of its high-profile phase III study into its cat allergy vaccine. This is undoubtedly a disappointing development. We had high […]

Custodian REIT has announced the acquisition of an GBP11.5 million portfolio of three properties. The Portfolio comprises: a 25,471 sq ft office on Pegasus Business Park, Castle Donington, adjacent to East Midlands Airport and Junction 23A of the M1, let to National Grid plc with an unexpired lease term of 6.2 years; a 16,470 sq […]

The Board of F&C Commercial Property has announced that it has agreed amended financing arrangements with Barclays Bank PLC to the existing GBP50 million term loan facility between SCP Estate Holdings Limited, a wholly owned subsidiary of the Company, and Barclays which was repayable in June 2017. The amended arrangements extend the repayment date of the […]

Ecofin Water & Power Opportunities has announced the successful placement of its entire equity holding in Direct Energie, representing 4.37% of Direct Energie’s share capital. Pursuant to the placing, the sale of this holding, which represented 8.2% of the Company’s portfolio at 15 June, 2016, will raise GBP34.9 million.  By 15 June, 2016, the shares […]

The Directors of GCP Student Living plc have announced that the Group has taken advantage of a rare opportunity to acquire a large scale, modern, purpose-built private student residential accommodation forward-funded development in London. The Directors believe that London retains a unique supply-demand imbalance for private student residential accommodation in the UK, with a shortage […]

intu properties announces that it has exchanged contracts with the Queensland Investment Corporation (“QIC”) to acquire the remaining 50 per cent of the Merry Hill estate for GBP410 million before expenses. This represents an income yield of 5.2 per cent, based on net rental income of GBP43 million. The estate comprises the intu Merry Hill […]

Funding Circle SME Income Fund Limited has announced that the company has now entered into a formal agreement with Funding Circle Limited and the European Investment Bank (“EIB”). The EIB will provide a GBP100 million loan to advance credit to UK SME loans via the Funding Circle marketplace. The Company will contribute GBP25 million to the […]

Hammerson plc ) has exchanged contracts and completed the sale of Thurrock Shopping Park, Essex, to TH Real Estate for GBP93 million. The park comprises two retail schemes with net internal area of 25,500m(2) and is situated next to junction 31 of the M25. Tenants include M&S, Gap, Pets at Home, Decathlon, Boots, Evans Cycles […]

Dunedin Smaller Companies has published its interim accounts. The company’s net asset value total return for the six month ended 30 April 2016 saw a small increase of 0.7%. This compares to a marginally higher total return of 1.3% from the benchmark index, the FTSE Small Cap Index (excluding investment companies). They say, although markets […]

The Board of Electra Private Equity PLC has announced the resignations of Dame Kate Barker and Francesca Barnes from the Board of Directors with immediate effect. Dame Kate joined the Board in 2010 and was Chairman of the Remuneration and Nomination Committee and Senior Independent Director. She served as interim Chairman from November 2015 until Neil […]

Invesco Income Growth outperformed the FTSE All-Share Index over the year to the end of March 2016, returning -2.6% against -3.9% for he Index. The discount widened however (from 5.3% to 11. 5%) and so the return to shareholders was -7.8%. The full year dividend was upped from 10.1p to 10.3p. The manager says that […]

Bankers Investment Trust returned 0.4% over the six months to the end of April 2016, slightly better than the zero return posted by the FTSE All-Share Index. The return to shareholders was -3.8% however as the discount widened to 5.9%. The interim dividend was increased from 7.8p to 8.0p. There is no manager’s statement in […]

John Laing Environmental Assets has published results for the year ended 31 March 2016. Over the 12 month period to 31 March 2016 shareholders have seen a share price total return of –2.5% whilst over the same period the NAV total return per share was +3.1%. The discrepancy is largely due to the reduction in […]

Real Estate Credit Investments recorded net profit of GBP8.5 million and NAV total return of 7.2% over the year to the end of March 2016. The dividend has been maintained at 10.8p. During the year, RECI made four new loans with commitments of GBP17 million. Since 31 March 2016 RECI has invested a further GBP4.3m […]

Alpha Real Trust’s results for the year ended 31 March 2016 show its NAV climbing from 113.2p to 137.9p (up 21.8%), a small fall in adjusted earnings per share from 7.5p to 7.0p and an increase in the dividend from 2.1p to 2.4p. In September 2015 Alpha Real Trust acquired 20.5% of the share capital and […]

Terra Capital has, belatedly, published results for the year ended 31 December 2015. Its year end net asset value per share stood at $0.925 against $0.979 for 2014. This represents a decrease for the year of 5.5% and a net decrease of 1.7% for the year allowing for the dividend of 3.72 cents per share paid […]