News

Over the six months to the end of April 2016, Henderson Diversified Income achieved a return on net assets of 2.4% and a return to shareholders of 1.3%. this compares to a return on the company’s benchmark, the total return over three month sterling Libor plus 2.00%, of 1.3%. A first interim dividend of 1.25p […]

CC Japan Income & Growth Trust has published inaugural results covering the period from its launch on 15 December 2015 to the end of April 2016. At the end of April the NAV was 103.92p and the share price 107.25p. On a total return basis the fund had outperformed the Topix Index, returning 3.9% against […]

HgCapital, the Manager of HgCapital Trust plc, has announced that it has agreed the sale of Mainio Vire, a leading provider of elderly care, mental health and home services in Finland, to Mehiläinen, a private provider of social and health care services also based in Finland. Completion is subject to regulatory approval. Based on the […]

In response to media comment, intu confirms that it is in advanced discussions with QIC regarding the potential acquisition of QIC’s 50 per cent interest in intu Merry Hill in the West Midlands. If the acquisition were to proceed, the consideration is likely to be around GBP410 million and would be funded through a combination […]

Seneca Global Income & Growth Trust has announced that it has submitted a blocklisting application for 3,989,636 new ordinary shares (10% of the trust’s existing share capital). The trust says that block listing will be used for the purposes of operating its discount (and premium) control mechanism policy, details of which were announced on 10 […]

Safestore’s EPRA NAV rose by 18.8% over the six months ended 30 April 2016 and the interim dividend was raised by 20% to 3.6p. Underlying, like-for-like EBITDA rose by 12.7% to £29.3m as occupancy rose by 2% to 70.9% and average storage rates rose by 4.7% to £26.02. Safestore has delivered a strong financial performance […]

City Merchants High Yield Trust has announced that Rhys Davies (pictured) has been promoted to portfolio manager with effect from 14 June 2016. Rhys has been deputy portfolio manager of the trust since 2 June 2014, having joined Invesco in 2002. He will co-manage the trust’s portfolio alongside Paul Causer and Paul Read. Invesco’s Rhys […]

Aurora Investment Trust has published its first annual report since the management of the company was passed to Phoenix Asset Management. The report covers the year ended 29 February 2016 – Phoenix took up the reins on 28 January 2016 so most of the performance of the fund over this period is attributable to the […]

Starwood European Real Estate Finance has announced that it has committed to a €31.2m five year floating rate whole loan to support the acquisition of a portfolio of fully let prime logistics assets in Dublin. The Loan has an initial drawdown of €17.6m with the remaining €13.6m to be advanced in conjunction with the deferred […]

New India Investment Trust has announced its annual results for the year ended 31 March 2016. During the year the trust provided an NAV total return of -6.1% and, reflecting a widening of the discount during the period (from 8.7% to 13.5%), a share price total return of -11.0% (all in sterling terms). This compares […]

SEGRO has announced that it has transferred a portfolio big box warehouses and development land into its SELP joint Venture (SELP or the SEGRO European Logistics Partnership is a 50:50 joint venture between SEGRO and a Canadian Pension Fund) for €89.4m. SEGRO’s strategy is to hold Continental European big box warehouses and development land primarily […]

MNG Gold, a privately-owned Turkish gold exploration and development company focused on West Africa and Turkey, is to invest US$30 million in Aureus Mining to achieve a 55% interest in the company. The agreed price of 3.21p per share represents a premium of 22% to the closing price on AIM on 14 June. The funds […]

Sequoia Economic Infrastructure has published its first set of accounts since its initial IPO – covering the period from incorporation on 30 December 2014, through its initial flotation on 3 March 2015 through to the end of March 2016. The company’s NAV rose moderately from 98.0p per ordinary share to 98.2p. Since the IPO and […]

Electra Private Equity has announced that its board has decided to cancel its existing £275m multi-currency revolving credit facility. The trust says that the facility is currently undrawn and therefore no repayment is required as a result of the cancellation. This follows the trust’s announcement, on 26 May 2016, that its board has served its […]

BlackRock Income Strategies says the six months to 31 March proved to be a challenging period for it and its resulting investment performance has been disappointing. The NAV fell by 0.9% over the period under review and the share price fell by 4.8%. Since the period end, the Company’s cum income NAV (with debt at fair value) […]

Vietnam Infrastructure Limited has announced that it is divesting its entire stake in the Vina-CPK Limited Company (“Vina-CPK”). The company is located in Vinh Phuc, Vietnam, and operates industrial park and infrastructure projects with an investment license of up to 49 years which was acquired by VNI in 2009. VNI will dispose of its entire […]

Following consultation with major shareholders, the Board of Aberdeen Frontier Markets Investment Company Limited (the “Company”) is pleased to announce that it intends to commence making half yearly distributions by way of a dividend. It is currently anticipated that a maiden dividend will be declared in respect of the six month period ending 30 June […]

Schroder Real Estate has published results for the year ended 31 March 2016. Over this period the asset value increased to GBP322.6 million or 62.2p per share, from GBP299.2 million or 57.7p. This reflects an NAV increase of 7.8% and a total NAV return, including dividends, of 12.3%. Dividends of GBP12.8 million or 2.48p were paid during the year which, based on […]

Further to its recent announcement of the selection of the main contractors for its of its North Yorkshire polyhalite project, Sirius Minerals Plc has concluded a new, 10-year offtake agreement with Yunnan Dian Huang Peony Industrial Group Co Ltd (Dian Huang), which is a producer of peony seed oil. The annual quantity covered by the […]

Gabelli Value Plus+ has published its first Annual Report to shareholders since it listed on the London Stock Exchange on 19 February 2015. The company delivered a net asset value total return of +3.9% from the starting net asset value level of 99p per share over the year to the end of February 2016. This […]

In the year to 31 March 2016, the NAV of Montanaro UK Smaller Companies (excluding current period revenue) rose by 0.7% to 558.4p in comparison with a gain of 1.4% by the Numis Smaller Companies Index. During the same period, the company’s share price fell by 0.4% to 461.0p reflecting the widening of the discount which […]

Edinburgh Worldwide Investment Trust has published results for the six months to 30 April 2016. Over the six month period the company’s net asset value per share increased by 0.9% while the comparative index (the S&P Global Smaller Companies Index) increased by 5.6%. The share price rose by 1.2%. Revenue losses per share were 0.35p (six months […]

Lindsell Train has announced results for the year ended 31 March 2016. In a year when the company’s net asset value total return per share increased by 11.9%, the share price (adjusted to include dividends) was up by 35.6%. This resulted in a significant increase in the share price premium to NAV, up from 5.9% […]

Oakley Capital Investments Limited has announced the successful completion of the Initial Public Offering  of Time Out Group plc raising GBP90 million (gross). Oakley Capital Private Equity LP invested in Time Out to support the transformation from traditional print based media such as magazines and guidebooks to digital and mobile platforms.  Since OCPE’s initial investment, Time […]

JPMorgan Asian says that, over the six months ended 31st March 2016, the company’s return on net assets was 9.0% and the return to shareholders 8.3%, reflecting a widening of the discount over the period. The company underperformed its benchmark, the MSCI Asia ex Japan Index, which returned 11.4%. The managers’ report says JPMorgan Asian’s […]

Global Fixed Income Realisation says Chris Hawkins has informed the Directors of the Company that he has tendered his resignation from Gottex Asset Management (UK) Ltd, the company’s investment advisor. Amy Lai, who heads up Gottex’s illiquid investments team, will take over as portfolio manager. Amy is based in New York and has considerable experience […]

JPMorgan Russian has announced interim results covering the six months ended 30 April 2016. The company’s net asset value on a total return basis was a positive 17.3% and the company’s return to shareholders on a total return basis was positive 16.9% over the period. The Company’s discount to net asset value experienced little change […]

The Establishment Investment Trust has published results for the year ended 31 March 2016. Measured by total return, the Net Asset Value (NAV) fell by 4.5% while the share price declined by 10.9% for the financial year to 31st March 2016. For comparative purposes, the FTSE WMA Stock Market Balanced Index declined 0.5%, the FTSE100 […]