News

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 […]

Seneca Global Income & Growth Trust generated a net asset value total return for the year ended 30 April 2016, of +0.8% which was less than the benchmark return of +3.7%, being 3-month LIBOR plus 3%.  Nevertheless, SIGT’s NAV performance over the year compared well with its AIC sector and most of the comparator indices, whose returns […]

LONDON (Alliance News) – British & American Investment Trust PLC, Biotech Growth Trust PLC, and International Biotechnology Trust PLC were among the best-performing London-listed investment companies in May, according to research firm QuotedData, which said there was a “small rally” in the biotech and healthcare sector that month. You can read the rest of the […]

Polo Resources Limited has announced that its subsidiary Polo Investments Limited has given notice of its intention to exercise its right to purchase a further 49 per cent of Perfectus Management Ltd for A$3.0 million to be satisfied by the issue of 9,832,358 new ordinary shares in Polo  at the price agreed in 2014 of 15p per […]

Sirius Real Estate has announced proposals for a private placing to raise up to €20m, which they say is to be used for further acquisitions. The company has also announced that it is refinancing an existing credit facility and is proposing a secondary placement of up to 27m shares. The Private Placement is conditional upon […]

Schroder AsiaPacific Fund has published its Half Year Report for the period ended 31 March 2016  The company’s net asset value produced a total return of 11.0% and the share price produced a total return of 12.1% during the six month period to 31 March 2016, compared with a total return of 11.4% for the MSCI […]

Empiric Student Property has announced that it has acquired Pennine House, a 127 bed student accommodation property in Leeds, for £17.8 million (excluding costs). The property comprises a mix of studios and two-bed en-suite apartments across eight floors together with communal facilities including a gym, cinema room, study rooms and a common room. The property […]

JPMorgan Claverhouse has announced changes to its investment management fee arrangements, which it says are intended to be more appropriate for attracting private wealth and retail investors. With effect from 1st July 2016, the investment trust’s performance fee will be terminated and the management fee will be charged at an amended annual rate of 0.60% […]

Secure Property Development & Invest has announced that it has signed heads of terms, with Temania Enterprises Ltd, for the sale of its Kiev based warehouse, Terminal Brovary, at a Gross Asset Value exceeding US$16m (before deducting the outstanding EBRD attached loan). The company says that, as completion of the disposal is subject to a […]

Tetragon Financial Group Master Fund, a subsidiary of Tetragon Financial Group, has announced the Final Results of its tender offer (a modified Dutch auction) to purchase shares in Tetragon Financial Group Limited. In accordance with the terms of the Offer, the Master Fund has accepted for purchase 9,999,997 TFG non-voting shares at a purchase price […]

Investment companies were put on a more equal footing with open-ended funds following implementation of the Retail Distribution Review (RDR) in 2013, which phased out commission paid by fund groups to financial advisers for product purchases. Historically, it had been less attractive for financial advisers to recommend investment trusts because they did not pay commission […]

Templeton Emerging Markets has published its results for the year ended 31 March 2016. TEMIT’s benchmark index declined by 8.8%. Unfortunately, the NAV suffered a much worse decline of  17.1% and the return to shareholders was -17.0% (all figures on a total return basis). Without the gains from share buy backs, the relative performance would have been rather worse. The […]

Workspace has published results for the year ended 31 March 2016. At the end of the period, the EPRA NAV per share was GBP9.23, an increase of 31.3% over the year. The Board is recommending an increase in the final dividend to 10.19p per share. This represents an increase in the total dividend for the […]

Canadian General Investments, Limited announced today that it has entered into an agreement with a Canadian chartered bank for a $75 million three-year fixed rate secured credit facility. Proceeds from the facility will be used to fund the previously announced June 10, 2016 redemption of its $75 million 3.90% Cumulative Redeemable Class A Preference Shares, […]

Monks lagged its benchmark a little over the year to 30 April 2016 – the first year that a new investment team, led by Charles Plowden, has been in charge of the portfolio. Monks’ net asset value total return was minus 0.4% compared to a total return of 0.5% for the FTSE World Index (in sterling […]

Bluefield Solar is seeking approval from shareholders for an amendment to the company’s investment policy which would, if approved, enable it to incur long term structural debt at the holding company level. The existing investment policy envisages that Bluefield Solar will only use short term debt at the holding company level. Shareholders should note that the proposed […]

Rio Tinto plc has offered to purchase for cash up to US$3 billion of its 2018, 2020, 2021 and 2022 US dollar-denominated notes in an effort to reduce its debt position. The move follows the successful completion of cash tender offers launched in April to purchase US$1.5 billion of its 2017 and 2018 notes. The […]

Perpetual Income & Growth has published results for the year ended 31 March 2016. Over that period its net asset value was unchanged. By contrast, the return on the FTSE All-Share Index was -3.9%. The discount widened however and so the return to shareholders was -2.9%. The dividend was increased by 4.1% to 12.8p and […]

Sirius Minerals Plc has selected the preferred contractors for key components of its North Yorkshire polyhalite project after a 19-month tendering process. Sirius has chosen AMC UK (a joint venture between Thyssen Group and Redpath Group) as the contractor for the design and build of mine site development, which includes all of the shaft construction […]