Ashoka India Equity lags index and discount widens – Over the period from launch (on 6 July 2018) to 31 December 2018, Ashoka India Equity lagged its benchmark, returning -8.7% in share price terms and -0.3% in NAV terms versus a 3.1% return for the MSCI India IMI Index. The chairman says that the main […]
Jeroen Huysinga moving to charity sector – The board of JPMorgan Global Growth & Income has announced that Jeroen Huysinga, the company’s joint portfolio manager will be retiring from JPMorgan after 22 years’ service to pursue a Masters degree in charity finance and administration and then a role in the charity sector. Jeroen’s specific portfolio management […]
Scottish American maintains inflation busting dividend increases – Scottish American delivered a share price total return of -1.6% and an NAV total return of -2.4% for 2018. Global equities, as measured by the MSCI World Index, fell by 3.4%. The full year dividend will be 11.5p per share, 3.6% higher than the 2017 dividend of 11.1p. The […]
TRIG buys Jadraas wind farm in Sweden – The Renewables Infrastructure Group (“TRIG”) has exchanged contracts to acquire a 100% interest in the Jädraås wind farm, an operational onshore wind farm with a capacity of 212.85MW for a consideration of approximately EUR207 million on an unlevered basis. The wind farm is located near Ockelbo, north of Stockholm […]
Alliance Trust’s equity portfolio underperformed in 2018 – Alliance Trust has published results for 2018. Highlights were: Total shareholder return for 2018 was -6.1% (2017: 19.2%) and its share price at 31 December 2018 was 688.0p, down 7.8% compared to 746.5p at 31 December 2017 NAV total return for 2018 was -5.4% (2017:18.5%) and its NAV […]
Woodford injects assets into Patient Capital – Woodford Patient Capital Trust has entered into an agreement to acquire a portfolio of unquoted companies for GBP72.9 million from the LF Woodford Equity Income Fund. Patient Capital will issue 75,432,424 new shares and the open-ended fund will also subscribe for a further 6,206,814 new shares for cash (patient […]
Sirius enters jv with Axa – Sirius Real Estate has formed a real estate investment joint venture with clients represented by AXA Investment Managers – Real Assets. AXA IM – Real Assets, acting on behalf of its clients, will own a 65% interest and Sirius will own the balance of 35%. The JV will be called […]
Symphony celebrates Pierre Chen investment in Liaigre – Symphony International Holdings Limited has announced that the Pierre Chen family from Taiwan has become a partner and co-owner of the Liaigre Group, together with Navis Capital Partners, Symphony and the Liaigre management team. The Liaigre brand was established in 1985 and Symphony describes it as one of […]
Vale disaster overshadows BlackRock World Mining 25th anniversary – BlackRock World Mining has published results for the year ended 31 December 2018. The trust underperformed the EMIX Global Mining Index – returning -11.5% in NAV terms and -10.7% in share price terms, against a -6.2% return for the index. The dividend was raised from 15.6p to […]
Tetragon Financial has released its annual report for the year ended 31 December 2018. During the year, a NAV Per Share total return of 10.3%, and a share price total return of -9.0%. It also It also declared 72 cents of dividends per share for the year, which it says is a yield of 6.2%. […]
Unite confident as focuses on high quality universities – Unite Group has published results for the year ended 31 December 2018. Highlights were: A 10% increase in EPRA NAV to 790p EPRA earnings up 25% to GBP88.4 million, 34.1p per share (2017: GBP70.5 million and 30.3p) 98% occupancy and like-for-like rental growth of 3.2% (2017: 99% […]
RDI REIT shopping centre loan breached covenant In a trading update released on 28 February 2019, RDI REIT notes that four of its UK shopping centres namely Grand Arcade, Wigan; Weston Favell, Northampton; Birchwood, Warrington and Byron Place, Seaham, are financed by a long-term fixed-rate debt facility with Aviva. Given the deterioration in values for […]
Greencoat UK Wind (UKW) has announced its annual results for the year ended 31 December 2018. The company says that its performance was in line with its expectations. Cash generation was on budget despite their being a low wind levels [QD comment: UKW, like most other renewable generators, has a high fixed cost base with […]
Riverstone Energy (RSE) has announced its annual results for the year ended 31 December 2018. RES finished the year with an NAV of $17.91 (£14.06)1 per share, which represents a year-on-year decrease in USD of 13 per cent. (in GBP of 8 per cent.) compared to the 31 December 2017 NAV. The company says that […]
Law Debenture Corporation (LWDB) has announced its annual results for the year ended 31 December 2018. For those not familiar with its structure, LWDB is a unique combination of an equity portfolio and independent professional services business. Key highlights for the Group, the equity portfolio and the independent professional services business are provided below, but […]
Apax Global Alpha has announced that The Apax VIII Fund, in which it is a limited partner, has today announced an agreement in principle to sell Exact Software. Apax VIII also announced on 21 February 2019 that it has agreed to sell its entire stake in AssuredPartners. It says that, together, these two transactions, based […]
LXB Retail Properties (LXB) has announced its annual results for the year ended 30 September 2018. In his chairman’s statement, Phil Wigely says that LXB has only a few weeks left until the anticipated de-listing and dissolution of the Company (subject to shareholders approve the necessary resolutions at an EGM scheduled for late March, and […]
Bluefield Solar Income Fund (BSIF) has announced its results for the six months ended 31 December 2018. Analysts from QuotedData attended the company’s results presentation and the company key operational highlights are listed below. However, underlying earnings for the period were £18m, which is 38.5% ahead, year-on-year (underlying earnings for the six-months ended 31 December […]
Syncona funds new immuno-oncology company – Syncona is contributing CHF 28 million (GBP21.4 million) to a CHF 35 million (GBP26.8 million) fundraising being carried out by Anaveon, a new immuno-oncology company. Syncona will have a 47.0 per cent stake in the business. Anaveon was founded in December 2017 by leading experts in the field of immunotherapy, […]
Derwent London delivers NAV growth despite Brexit – Derwent London has published results for the year ended 31 December 2018. Highlights are: Derwent London delivered a total return of 5.3% EPRA NAV 3,776p per share, up 1.6% EPRA earnings of 113.1p per share, up 20.0% from 94.2p in 2017 (but these include some one-off items, underlying […]
Rights and Issues Investment Trust (RIII) has announced its annual results for the year ended 31 December 2018. During the year, the trust provided an NAV total return of -9.7% (The NAV fell from 2,372.3p per share to 2,118.1p per share, but paid a modestly higher dividend of 31.5p per share versus 30.75p per share […]
Urban Logistics REIT has announced that it has exchanged contracts with Carbide Properties Limited, conditional on receipt of planning permission, for the forward funding of two high-quality urban logistics assets at Staffordshire’s Stone Business Park and Leicestershire’s Lime Kilns Business Park in Hinckley. The gross development value of the total acquisition is £15.4 million and […]
LXi REIT has announced that it has acquired a Bupa care home in Bristol for £13.8m. The Property, comprising a modern, high quality care facility providing nursing and residential care predominantly for privately funded patients, and reportedly benefits from high underlying occupancy levels. The purchase was conducted off-market and has been funded using the Company’s […]
Hammerson steps up disposal programme – Hammerson has published results for the year ended 31 December 2018. Highlights were: A 4.9% fall in EPRA NAV to 738p Impacted by a weaker investment market, UK property values fell during the second half of 2018 by -9.3%, the overall portfolio produced a 12 month capital return of -4.3% […]
intu reports significant fall in NAV – intu has released results for 2018 that show a drop in its EPRA NNNAV from 349p to 271p. Underlying earnings per share also fell – from 15p to 14.4p. The fall in NAV pushed up the company’s debt ratio to 53.1% from 45.2%. It said “In a challenging […]
AEW UK Long Lease REIT (AEWL) has announced that it has acquired a nursery property, 53 Victoria Road, in central Southampton. The property, known as the YMCA Woolston Nursery, was purchased by way of a sale and leaseback agreement with YMCA Fairthorne Group, a regional operation of the charity YMCA (the world’s largest youth charity). […]
Temple Bar makes Peter Lowery deputy manager – Temple Bar has announced results for the year ended 31 December 2018. The NAV total return was -11.2%, worse than the return on the All-Share Index which was -9.5%. The dividend has been hiked by 10%, emphasising Temple Bar’s AIC ‘dividend hero’ status. Alastair Mundy has managed the […]
Tufton Oceanic Assets (SHIP) has announced that it has agreed to acquire one general cargo vessel for $6.75m. This purchase will take the Company’s fleet to twelve vessels and, following the purchase, SHIP says that its “capital resources are now fully committed”. It has since announced its intention to raise up to $75m by way […]
Herald Investment Trust (HRI) has announced results for the year ended 31 December 2018. During the year, HRI’s NAV fell by 4.9%, while its share price fell by 8.2%, reflecting a widening of the discount during the period. HRI says that this compares against a fall in the Numis Smaller Companies Index plus AIM (ex. […]
Aberdeen Standard European Logistics invests in Krakow – Aberdeen Standard European Logistics Income has signed an agreement to acquire a freehold logistics warehouse in Krakow, Poland for a net value of EUR24.5 million providing a net initial yield of 6.8%. The vendors are Panattoni and Marvipol, well-known international real estate developers specialising in logistics. The transaction is […]
