Jupiter US Smaller cuts fees – Jupiter US Smaller Companies has agreed to remove its existing performance fee arrangements. The base fee has also been reduced, with effect from 1 October 2017, from 0.80% of total assets per annum to a tiered fee amounting to 0.75% of adjusted net assets up to GBP150 million, reducing to 0.65% for […]
JPEL Private Equity gets cash for Accela stake – JPEL Private Equity says that one of its largest investments has been bought. On 29 September 2017, Berkshire Partners LLC made an investment in Accela, a leading provider of civic engagement software solutions for state, county and municipal governments. The sale of Accela resulted in an investment […]
James Carthew: has Tritax paid too much as Hansteen hands back cash? In the past week we have seen a very large tender offer from Hansteen Holdings (HSTN), a real estate investment trust specialising in industrial property, and a deal where Tritax Big Box (BBOX) bought a large logistics facility from LondonMetric Property (LMP). Hansteen […]
Secure Property Development buying Romanian logistics portfolio – Secure Property Development and Investment has announced the proposed acquisition of up to a 50% interest in a portfolio of fully let logistics properties in Romania (the “Olympians Portfolio”), which currently generates a Net Operating Income of approximately €4.5m per annum. The Olympians Portfolio: Fully let Grade A […]
Henderson EuroTrust celebrates 25 years with a fee cut – Henderson EuroTrust says that, for the year ended 31 July 2017, its NAV total return just failed to match its benchmark, producing a return of 24.3% compared to a total return from the benchmark index, the World Europe (ex UK) Index of 24.6%. Shareholders benefitted from […]
JPMorgan Emerging Markets underperforms, bailed out by discount narrowing – JPMorgan Emerging Markets says that the year to 30th June 2017 was another positive one for investors in emerging markets, with the benchmark index, the MSCI Emerging Markets Index with net dividends reinvested, in sterling terms, returning +27.4%. The return on net assets, whilst positive […]
Civitas expands portfolio – Civitas Social Housing PLC has completed the purchase of two specialist supported living and residential care investments for a total consideration of £8.5 million, comprising the freehold interest in 5 properties, with 43 tenancies. The properties are immediately income generating with an initial net yield in line with the Company’s expectations and both […]
Primary Health invests in Falkirk – Primary Health Properties has contracted to acquire a standing let investment property situated in Stenhousemuir, Falkirk, Scotland. A wholly owned subsidiary of PHP has agreed to acquire Stenhousemuir Medical Centre for £8.65 million (net assets acquired of £8.65 million). The property comprises of 2,450 m2 and is fully let to […]
Schroder Japan Growth hits new highs – Schroder Japan Growth says that the year to 31 July 2017 has been an excellent one for its shareholders, with the NAV and share price reaching the highest levels in the company’s history. The NAV outperformed the TSE First Section Total Return Index, producing a total return of 20.4%, […]
Stellar year for Pacific Horizon – In the year to 31 July 2017, Pacific Horizon’s NAV total return was 38.5%. During the same period, the total return of the comparative index, the MSCI All Country Asia ex Japan Index, was 28.6% in sterling terms. The share price total return was 42.5%, and the discount narrowed from […]
CQS New City High Yield posts 16% return – CQS New City High Yield says that its net asset value total return was 16.13% for the year ended 30 June 2017. The share price total return for the same period was stronger at 18.36%. The company declared three interim dividends of 0.98 pence in respect […]
Dunedin Enterprise sells Alpha Financial Markets Consulting – Dunedin Enterprise Investment Trust has announced that Alpha has today announced a conditional placing and proposed admission to trading on the LSE’s AIM market on 11 October 2017. On Admission, Dunedin Enterprise, via its interest in Dunedin Buyout Fund III LP, will sell 100% of its holding in […]
SQN Asset Finance reveals more problems in its portfolio – SQN Asset Finance Income Fund has published accounts for the year ended 30 June 2017. The chairman points out that the fund is now three years old and has ben paying dividends consistently on a monthly basis (these totalled 7.25p for the year under review, up […]
LondonMetric buys logistics site in Bedford – LondonMetric Property Plc has unconditionally acquired the 40 acre Bedford Link site from the local authority. The site has planning consent for up to 670,000 sq. ft. of logistics space and all other conditions relating to the purchase have now been satisfied. Bedford Link is situated on the A421, […]
Globalworth Real Estate (GWI) has announced that it has entered into a conditional investment agreement to acquire a minimum of 50.01% and up to 67.90% of Warsaw listed Griffin Premium (GPRE). GPRE is a pure-play Polish real estate platform that primarily owns high-quality office and mixed-use assets located in Warsaw and across a number of […]
Central Asia Metals plc (AIM: CAML) is on course to achieve copper production at the upper end of its 13,000t-14,000t guidance range from its Kounrad operation for 2017 after producing 3,842t in Q3. This takes the total for the year to date to 10,869t. Since starting irrigation of the Western Dumps in April 2017, the […]
Phenomenal year for TR European Growth shareholders – TR European Growth says that, for the year ended 30 June 2017, its net asset value total return was 54.0% compared to a total return from the benchmark index of 35.8%. The share price total return was 75.5%. They are proposing an increased final dividend of 11.5p and also […]
GCP Student Living funding another building for Queen Mary – GCP Student Living says that its operational property portfolio is now fully occupied with respect to the 2017/18 academic year. The average rental growth as compared with the 2016/17 academic year is 4.1%. New building for Queen Mary University GCP Student Living has entered into a […]
CatCo to raise finance in wake of hurricanes – CATCo Reinsurance Opportunities Fund Ltd has announced today that the Board and Markel CATCo Investment Management Ltd., the investment manager, are proposing to raise further funds via the Markel CATCo Diversified Fund (a segregated account of Markel CATCo Reinsurance Fund Ltd), in which the company invests substantially all of […]
Tritax Big Box buys Royal Mail facility in Daventry – Tritax Big Box REIT has exchanged contracts to acquire a National Distribution Centre at Danes Way, Daventry International Rail Freight Terminal (“DIRFT”), Northamptonshire let to Royal Mail Group Limited, the main subsidiary of Royal Mail plc. The total consideration is GBP48.82 million (excluding purchaser’s costs), reflecting […]
Volta Finance trims fees – Volta Finance Limited has agreed a reduction in management fees and revised performance fees with its Investment Manager, AXA Investment Managers Paris under an amended and restated investment management agreement. The Board has reached agreement with AXA on introducing a tiered management fee and simplified annual performance fee structure. The management […]
Baillie Gifford Japan’s Sarah Whitley to retire – Baillie Gifford Japan Trust has announced its results for the year ended 31 August 2017. At the same time, it says that Sarah Whitley, manager of the fund since 1991, is to retire on 30 April 2018. Baillie Gifford, with the full support of the Board and Sarah […]
Board sticking by Genesis – Genesis Emerging Markets Fund Limited has announced results for the year ended 30 June 2017. The MSCI Emerging Markets returned 27.8% to UK investors. The discount to NAV narrowed marginally from 13.1% at the beginning of the period to 12.9% at the end. The NAV increased from 621.4p to 749.6p. The share price rose […]
Pacific Industrial buys nine logistics assets – Pacific Industrial & Logistics REIT has completed the off-market acquisition of a portfolio of 9 logistics assets for a total consideration of GBP45.5m. The purchase price represents a net initial yield of 7.3%. The deal has been financed from the proceeds of the recent placing, completion […]
Macau Property Opportunities focused on sales efforts – Macau Property Opportunities Fund Limited has announced its results for the year ended 30 June 2017: Highlights: MPO’s portfolio value appreciated 9.7% over the year to US$425.7 million. Adjusted NAV grew 10.2% year-on-year to US$249.3 million, equating to US$3.26 (250 pence*) per share. IFRS NAV increased by […]
Pantheon to combine share classes – Pantheon International plans to effect the consolidation of its ordinary and redeemable share capital into a single class of ordinary shares. The Proposals include the issue of an unlisted Asset Linked Note (the “ALN”) to the largest holder of Pantheon’s redeemable shares in exchange for part of its shareholding. […]
Auditor declines to offer opinion on Infrastructure India accounts – Infrastructure India has published results for the year ended 31 March 2017 – which are, of course, somewhat out of date now. They say that the Net Asset Value decreased to £282m as at 31 March 2017 and the NAV per share was […]
Jupiter European sticking with Novo Nordisk – Jupiter European Opportunities says that, for the financial year to 31 May 2017, its total return on net assets was 30.5%, which compares with 35.7% for the benchmark. The total return on the shares was 30.6%. There is a 6.5p dividend. The manager says that the underperformance is partly explained by sector weightings – […]
City Natural lags benchmark, ETF to blame? – City Natural Resources says that on 30 June 2017 its net asset value stood at 132.7p, giving a net asset value total return for the year of 7.9%. The benchmark index returned 17.7%. The shares returned 17.8% as the discount narrowed from 22.7% to 17%. This year’s […]
Foresight Solar buys Australian solar farm – Foresight Solar Fund Limited has entered into a binding contract to acquire its first asset outside of the UK with a commitment to acquire 48.5% of the share capital of Bannerton Solar Farm in Victoria, Australia. The project will have a peak capacity of 110MWp once operational. KDB Infrastructure […]
