Henderson Far East Income reports on flat year – Henderson Far East Income says that, for the year ended 31 August 2018, its net asset value total return was 1.5% and share price total return -0.6%. These compare to a return of zero on the MSCI AC Asia Pacific ex Japan High Dividend Yield Index and 2.4% for the […]

Edinburgh Dragon offers 30% tender offer – Edinburgh Dragon Trust has released its results or the year ended 31 August 2018. The trust’s NAV total return for the year came in a whisker ahead of the return on its benchmark (2.3% versus 2.2%). The shares did a bit better, returning 3.4% as the discount narrowed a little. […]

Aberdeen Standard European Logistics buys Dutch warehouse – Aberdeen Standard European Logistics has exchanged contracts to acquire a new development in Oss, the Netherlands, for a purchase price of €15.7m, providing a net yield of 5.3%. The agreement with developer Heembouw Breda B.V is structured as a forward funding deal with a 5.5% coupon rate. The development […]

Fidelity Special Values cuts fees after good year – Fidelity Special Values has published its results for the year ended 31 August 2018. Its NAV increased by 8.7% over the year and the share price by 14.0%, both well above the 4.7% return of the benchmark index (all on a total return basis). As a result of […]

International Biotechnology benefits from narrowing discount – International Biotechnology has reported that, over the year ended 31 August 2018, its NAV laggeded the NASDAQ Biotechnology Index (NBI) a little, returning 8.6% versus the NBI return of 10.1%. A narrowing discount meant that shareholders saw a total return of 13.7%, however. The biotech sector outperformed the UK equity market over […]

Tritax EuroBox buys Action Logistics warehouse near Hannover –  Tritax EuroBox has bought a prime, modern logistics warehouse at Peine, near Hannover, Germany (which they describe as a key logistics location). The property is let to Action Logistics Germany GmbH, a subsidiary of Action BV, the fastest growing non-food discount retailer in Europe, headquartered in the Netherlands […]

Hadrian’s Wall standing firm – Hadrian’s Wall Secured Investments has published results for the year ended 30 June 2018. Its ordinary share NAV rose to 98.2p from 97.7p over the period but the share price fell from 107p to 102p. Total dividends of 6.0 pence per ordinary share were declared and paid in the year ended 30 June […]

Henderson International Income held back by US underweight – Henderson International Income Trust has published results covering the year to the end of August 2018. Its NAV total return for the period was 5.9% and the return to shareholders was 5.6%. These figures are well behind the return on the MSCI World (ex UK) Index, which returned […]

Summit Germany buys Fortress portfolio – Summit Germany Limited has entered into an unconditional agreement to acquire a portfolio of commercial properties from several subsidiaries of Fortress Immobilien AG. The total purchase price is €86m, including acquisition costs. The acquired properties consist of 8 well located multi service centers in major cities in Germany; mainly Berlin, Frankfurt […]

Greencoat Renewables buys Ballybane Wind Farm – Greencoat Renewables has announced the acquisition of Ballybane, a 48.3MW wind farm situated in County Cork. The wind farm was acquired from an independent local developer for a total consideration of €61.3m. This brings Greencoat Renewables’ portfolio of operational wind farms to 251MW capacity. Ballybane wind farm consists of 21 […]

Residential Secure Income buys shared ownership portfolio – Residential Secure Income has exchanged contracts to acquire 34 new build homes located in the London Borough of Barnet, which it intends, using government grant funding, to convert into shared ownership homes. It says that it has plans to make similar deals in future, making use of government grant […]

SEGRO sells Belgian warehouses to Tritax EuroBox – SEGRO, in its role as venture adviser to the SEGRO European Logistics Partnership joint venture, has sold four big box warehouses and adjacent development land in Belgium to Tritax EuroBox. The partnership has received net proceeds of €83.4m (SEGRO owns 50 per cent of the partnership so its share […]

International Public Partnerships invests in ultrafast digital network – International Public Partnerships will invest up to around £9.9m into Nextgenaccess Ltd, a developer of ultrafast wholesale and custom fibre infrastructure. The Nextgenaccess investment falls within the framework of International Public Partnerships’s already announced overall commitment of up to GBP45 million to digital infrastructure via the National Digital […]

Aberdeen Latin American misses out on Petrobras recovery – Aberdeen Latin American Income has published results to the end of August 2018. The NAV retreated by 18.8% in sterling terms, lagging its benchmark’s loss of 10.9%. The share price return was -18.5%. The chairman’s statement lays the blame for the falling benchmark on “the liquidity squeeze on the […]

BlackRock Greater Europe has a great year – BlackRock Greater Europe Investment Trust has announced results for the year ended 31 August 2018. The NAV increased by 11.8%, well ahead of a rise of 1.4% in the World Europe ex UK Index. The share price rose by 12.5% over the same period. The revenue return per share amounted to 5.95p per […]

RDI REIT cuts cost ratio to boost earnings – RDI REIT has announced results for the year ended 31 August 2018. Highlights include: EPRA NAV per share increased 3.4% to 42.8 pence Underlying earnings per share of 2.84 pence, an increase of 3.3% Net rental income increased 2.1% on a like-for-like basis EPRA cost ratio (excluding direct […]

Triple Point Social Housing invests in another 87 units – Triple Point Social Housing REIT  has completed the acquisition of ten supported housing properties, acquired the land and entered into forward funding arrangements to develop another supported housing scheme and exchanged contracts on one further supported housing property, comprising 87 units in total, for an aggregate commitment […]

JPMorgan Global Emerging Markets Income held back by discount widening – For the year ended 31st July 2018, JPMorgan Global Emerging Markets Income recorded a total return on net assets of +6.6%. This compares with a return on the benchmark index, the MSCI Emerging Markets Index with net dividends reinvested (in sterling), of +4.9%. The total return to […]

Vietnam Opportunity makes fee changes – VinaCapital Vietnam Opportunity Fund Limited has released its annual report for the year ended 30 June 2018. In the year to 30 June 2018, the NAV per share increased in US dollar terms by 13.7% to $5.38, while the share price rose by 12.6% to $4.30, from the same date a year ago. […]

Warehouse REIT buys Widnes Amazon warehouse – Warehouse REIT has exchanged contracts for the acquisition of a warehouse in Widnes, Cheshire for£2.765m, reflecting a net initial yield of 7.3%. The asset is fully let to Amazon UK Services Ltd on a newly agreed five-year lease to serve the online retailer’s last mile distribution requirements across the surrounding […]

LXi REIT deploys £109m – LXi REIT recently raised £175m from investors and today it has announced five deals that will deploy £109m of this. The company says it is in solicitors’ hands on further acquisitions which will fully deploy the balance in the next few weeks. Further acquisition announcements will be made shortly. BCA logistics facility, […]

UK Commercial Property sells Barclays Bank in Exeter – UK Commercial Property REIT Limited has sold a retail asset, 16-20 High Street, in Exeter, to a UK pension fund for £23.5m. The price is in line with book value and reflects a net initial yield of 4.75%. The sale follows the completion of the REIT’s asset management […]

Caledonia selling Choice Care Group – Caledonia Investments is selling Choice Care Group, a provider of residential and supported living services for people with learning disabilities and mental health conditions, to iCON Infrastructure Partners, IV L.P., a fund advised by iCON Infrastructure LLP, an independent infrastructure investment group with approximately EUR2.5bn of assets under management. Choice was […]

NextEnergy Solar Fund says no fee on preference share cash – NextEnergy Solar Fund is in the process of issuing preference shares – a story we reported on 16 October. NextEnergy Capital IM Limited has now agreed to waive a proportion of the investment management fee due to it, so that no investment management fee is payable by […]

JPMorgan American cuts gearing – JPMorgan American‘s gearing policy is to operate within a range of 5% net cash to 20% geared in normal market conditions, with a strategic (i.e. long-term target) level of gearing being set at 10% plus or minus 2% (i.e. a range of 8% to 12%). On 8 June 2018, the fund […]

Interactive Investor buys Alliance Trust Savings – Alliance Trust has agreed the sale of its subsidiary company Alliance Trust Savings (ATS) to Interactive Investor, the UK’s second largest investment platform. Lord Smith of Kelvin, Alliance Trust’s chairman, commented: “The board is pleased to announce the sale of ATS to Interactive Investor. The two businesses are highly complementary […]

CATCo warns on hurricane Michael and Typhoon Jebi – Markel CATCo Investment Management Ltd, CATCo Reinsurance Opportunities‘ investment manager, says that the unaudited net asset value of the company’s ordinary Shares and C shares was $0.7174 and $1.1287 respectively, as at the close of business on 30 September 2018. Both sets of shareholders are exposed to potential […]

intu properties receives a new possible offer. intu properties (INTU) has issued a statement after it has received a possible offer from a consortium of parties interested in acquiring it.  Reciept of a possible offer On 4 October 2018 the consortium comprising the Peel Group, the Olayan Group and Brookfield Property Group  (together the “consortium”) announced that they were in […]

New investment trust Smithson raises £822m –  Smithson Investment Trust (SSON), a newly established investment trust has successfully raised a total of £822.5 million as a result of its IPO. It is believed to be the largest recorded UK-listed investment trust launch. Smithson announces successful capital raising Applications have been received under the Initial Issue for 82,250,956 Ordinary […]