Ecofin Global Utilities and Infrastructure Trust (EGL) has announced its annual results for the year ended 30 September 2018. During the year, EGL provided an NAV total return of 4.8%n and a share price total return of 1.1%. According to EGL, this compares against a 4.9% return for the MSCI World Utilities Index. The superior […]
Edinburgh Worldwide Investment Trust (EWI) has announced its annual results for the year ended 31 October 2018. During the year, EWI provided Nav and share price total returns of 14.9% and 19.0% respectively. EWI says that its comparative index, the S&P Global Small Cap Index, increased by 0.1% in sterling total return terms. EWI says […]
Local Shopping REIT says liquidation blocked – The Local Shopping REIT has announced that the special resolution to, amongst other things, wind-up the company voluntarily, proposed at the general meeting held yesterday attracted the support of 61.87% of the votes cast. However, the resolution did not achieve a majority of 75% of the votes cast required […]
Invesco Perpetual Enhanced Income (IPE) has announced its annual results for the year ended 30 September 2018. During the year, IPE achieved what its chairman, Paul Yates, describes as a “a small but positive total return for shareholders”, based on the share price with dividends reinvested, of 0.1%. However, the share price fell from 80.3p […]
AXA Property Trust (APT) has announced that it has received a “Member’s Requisition of an Extraordinary General Meeting” or, in other words, a request for an EGM. APT says that requires that a general meeting of the Company be convened, at the earliest opportunity, for the purpose of considering and voting on the following resolution: […]
BBGI SICAV (BBGI) has announced that it has completed the acquisition of significant equity interests in three PPP transportation and social infrastructure projects in the Netherlands, via a partnership with VolkerWessels, and additional interests in two LIFT projects in the UK from GB Partnerships Investments Limited. It says that all five of these assets are […]
Mobius Investment Trust (MMIT) listed on 1 October 2018 and is currently in the process of deploying its IPO proceeds. MMIT has now provided an update on its progress in which it says that, while it does not intend to disclose specific portfolio holdings during its ramp up period, it is actively engaging with both portfolio and target companies. It cautions […]
Standard Life Private Equity Trust (SLPE) has announced its final results for the year ended 30 September 2018. During the year, the trust provided Nav and share price total returns of 13.8% and 5.8% respectively. The superior Nav performance reflects a widening of the trust’s discount during the period. In comparison, SLPE says that the […]
JPMorgan Asian Investment Trust (JAI) has announced its final results for the year ended 30 September 2018. During the year, JAI’s return on net assets was +7.3%, representing an outperformance of 2.9 percentage points over the benchmark, the MSCI AC Asia ex Japan Index, which returned +4.4% in sterling terms. The chairman, Bronwyn Curtis, says […]
HEFT’s annual results – NAV provides an in-line performance Henderson European Focus Trust (HEFT) has announced its annual results for the year ended 30 September 2018. During the year, the trust produced a net asset value total return per ordinary share of 2.0% (2017: 21.7%), which is in line with the benchmark total return of […]
BlackRock Commodities Income has announced that its board has decided not to proceed with the discretionary semi-annual tender offer that was due in February 2019. The announcement doesn’t include the underlying rationale for the decision but says that, “Board has concluded that it is not currently in the best interests of shareholders as a whole […]
Henderson EuroTrust (HNE) has announced new fee arrangements that will take effect from 1 January 2019. Under the new fee arrangements, the performance fee will be removed. However, HNE has a tiered base management fee (calculated as a proportion of net assets) and the level where the base fee switches to the lower rate has […]
SQN Secured Income Fund (SSIF) has provided an update on plans to increase its size significantly. The fund’s manager, SQN Asset Management, sees this as an opportune time to increase the size of the fund and proposes to do this via a capital raise. The opportunity SQN Asset Management says that, anticipating a period of […]
Triple Point Social Housing REIT has announced that it has completed the acquisition of 24 supported housing properties, comprising 143 units in total, for an aggregate commitment of £24.15m (excluding costs). The properties are located in the North East (20 units), the East Midlands (62 units), the West Midlands (8 units), the South East (9 […]
Tufton Oceanic Assets has announced that it has agreed to acquire two product tankers for a total of $36m. These acquisitions will be the third and fourth investments made from the c share proceeds announced on 11 October 2018 and will take the Company’s fleet to ten vessels. Limited information is provided in the announcement, […]
Electra Private Equity has announced its final results for the year ended 30 September 2018. The trust is conducting a managed wind down of its portfolio. Commenting on the results, Neil Johnson, the trust’s chairman, had the following to say, “From a market capitalisation of £1.2bn at the start of October 2015 we have now […]
MedicX Fund (MXF) has announced its final results for the year ended 30 September 2018. The company describes it as, “Another year of strong performance, reflecting progress and achieving notable milestones”. Financial highlights The announcement highlights the following from the financial results: 11.4% increase in EPRA earnings per Ordinary Share, from 3.5p per share to […]
Schroder AsiaPacific Fund has announced its final results for the year ended 30 September 2018. Its chairman, Nicholas Smith, says that, during the year, “the Company retained the gains made in the two prior exceptional years, despite difficult market conditions generally”. The NAV produced a positive total return of 4.2%, very slightly trailing the benchmark, […]
BlackRock Frontiers (BRFI) has announced its final results for the year ended 30 September 2018. During the year, which the trust’s chairman describes as being a transition year, BRFI provided an NAV total return of -6.6% (in US dollar terms) thereby underperforming its reference index, which rose by 2.3%. (With effect from 1 April 2018, […]
The Local Shopping REIT has announced its final results for the year ended 30 September 2018. During the year, the Company made a loss of £7.15m (2017 loss £0.86 million) on an IFRS basis but made significant progress with its property disposal programme. As at 30 September 2018, the company’s portfolio was valued at £22.3 […]
Scottish Investment Trust (SCIN) has announced its final results for the year ended 31 October 2018. During the year, the share price total return was +1.9% and the NAV total return was +1.1%. SCIN does not have a formal benchmark but it says that, by way of comparison, the sterling total return of the international […]
Greencoat Renewables has announced that it has acquired two windfarms, Monaincha and Garranereagh, for €88m. The seller is BlackRock Real Assets and the purchase is being funded by Greencoat renewables revolving credit facility of €380m. The transaction is expected to close by the end of December 2018 and the two farms combined have a 45.2MW […]
SDCL Energy Efficiency Income Trust Plc (SEEIT) has announced that its IPO has raised gross proceeds of £100m (through the issue of 100m shares at £1 per share). The company says that it expects that its shares, which are to be listed on the London Stock Exchange’s main market, will start trading on Tuesday 11 […]
City Natural Resources High Yield Trust Plc has announced that, following shareholder approval at its AGM on 5 December 2018, it has changed its name to CQS Natural Resources Growth and Income Plc. The change takes place with immediate effect. The trust’s ticker (CYN) remains unchanged. The trust formerly known as City Natural Resources High […]
Hipgnosis acquires TMS catalogue- Hipgnosis Songs Fund Limited have made another music catalogue purchase, this music catalogue comes from TMS. TMS is an English song writing and music production team comprised of Thomas ‘Froe’ Barnes, Benjamin Kohn and Peter ‘Merf’ Keller. The company has acquired 100% interest in the catalogue except for the writers’ share […]
Regional REIT pays down debt- Regional REIT (RLG) has announced yesterday that they have a new 10 year facility for a total of £36 million with Scottish Widows Limited that was arranged by Bank of Scotland’s Real Estate and Housing Team. Regional will use the loan to pay back the remaining 5% (£13 million) of […]
BMO continues to increase dividend– BMO Capital and Income Investment Trust plc (BCI) has increased its annual dividend for the 25th year running. This year, the total dividend increased by 2.8% year-on-year, with the final dividend per share totalling 10.95 pence. Share price total return for the year was 5.3% (2017: 15.8%). The NAV per […]
Ediston Property sees an increase of NAV per share- Ediston Property Investment Company plc (EPIC) saw an NAV per share increase from 111.3 pence in 2017 to 115.3 pence in 2018. That equals an increase of NAV per share of 3.6% for the year. The average share price discount to NAV during the year was […]
Volatile markets make for a difficult year for JPMorgan Chinese- JPMorgan Chinese (JMC) announced yesterday that the fund’s NAV total return for the year was down 1.4%. The benchmark, the MSCI China Index, had a NAV total return of +0.6%. The total return for shareholders for the year fell by 5.0%. Gearing, which averaged 14%, […]
Infrastructure India (IIP) has announced that it has agreed extensions to the maturity of two of its loans. These are an existing US$48.4m unsecured bridging loan facility (originally provided to the Company in June 2017 by Cedar Valley Financial) and an existing US$21.5m working capital loan (originally provided to the Company in April 2013 by […]
