UIL lags benchmark – UIL achieved a NAV total return per ordinary share of 7.7% for the year to 30 June 2017, underperforming the All Share, which was up by 18.1%. The Board maintained total dividends at 7.50p. The chairman points out that the majority of the funds ‘platforms’ (the companies that it has established to make investments through) have […]
Dramatic discount narrowing leads to bumper return for JPMorgan Global Growth & Income – JPMorgan Global Growth & Income reports that, for the year ended 30 June 2017, its NAV total return was 29.0%, which compares well with the 22.2% return posted by the MSCI AC World Index. in an analysis of the contribution of different […]
Aberdeen Frontier Markets experiences teething problems as moves to direct investment – Aberdeen Frontier Markets reports that, for the year ended 30 June 2017, the NAV rose by 13.7% in total return terms with the share price rising 16.7% as the discount narrowed. This compared to a gain of 19.7% for the MSCI Frontier Markets Index, […]
Hadrian’s Wall off to slow start – Hadrian’s Wall Secured Investments has published its first set of accounts for the period ended 30 June 2017. Its shares started trading on the London Stock Exchange on 20 June 2016 following an IPO that raised a net £78.4m. In addition, a C share issue on 31 May 2017 raised a further £44.3m. […]
Standard Life Property Income sells Elstree Tower – Standard Life Investments Property Income Trust has exchanged contracts to sell Elstree Tower in Borehamwood for GBP20m. The 80,700sqft office was valued at the end of June at GBP18m and is the second largest asset in the fund, and had the largest rent roll (GBP1,320,000pa) which was […]
Global Fixed Income Realisation gets cash for Indonesian asset – On 29 August 2017, Global Fixed Income Realisation Limited announced that it had been advised by the administrator of 3D Propco Limited that the underlying asset, the Bintan Lagoon Resort in Indonesia, had been sold. On 18 September 2017 the company announced that it has received […]
Ruffer returns in line with long term averages – Ruffer Investment Company has published results for the year ended 30 June 2017. Over the period, the NAV total return was 8.75%, the return to shareholders was 12.9% and the dividend fell to 2.6p from 3.4p. Ruffer’s target return is twice the Bank of England base rate. This […]
Discount narrowing boosts New Star’s returns – New Star investment Trust’s total return was 17.9% over the year to 30th June 2017. The discount narrowed from 39.5% to 29.0% and this helped push the share price up by 38.2%. By comparison, the Investment Association’s Mixed Investment 40-85% Shares index gained 16.5%. The MSCI AC World Total […]
Green REIT reports 10% NAV growth – Green REIT has released preliminary results for the year ended 30 June 2017. It is reporting 10% NAV growth driven by development profits and increased underlying earnings. Highlights: 10% increase in NAV from €1,048m to €1,152m 9% increase in EPRA NAV per share to EUR1.66, underpinning a 12.9% […]
Bluefield Solar reports 11% jump in NAV – Bluefield Solar Income Fund has published its Annual Report and Financial Statements for the year from 1 July 2016 to 30 June 2017. Operational Highlights The Company delivered total underlying earnings of GBP25.1 million (2016: 20.9 million) in the year and underlying EPS of 7.32 pence (2016: […]
Custodian REIT sells three properties – Custodian REIT has announced the disposal of three properties from its portfolio. Colchester The Company has sold an 8,326 sq ft retail unit within a six unit block on High Street, Colchester for GBP4.25 million, GBP0.7 million ahead of the 30 June 2017 valuation. The unit was recently let to […]
Atlantis Japan to scrap subscription rights – Atlantis Japan Growth’s Board announced on 2 August 2017 that it was reviewing the appropriateness of continuing with the annual subscription rights mechanism following the 2017 subscription date (2 October 2017). The annual subscription rights mechanism enables shareholders to subscribe for one new ordinary share for every five ordinary shares […]
James Carthew: UK income trusts standing out from the crowd What makes an investment trust stand out from the crowd? It is a question that preoccupies many boards and it is relevant in a time when many investors are being warned off me-too funds, quasi-index trackers and even active investing. Two high-profile funds in the […]
Adamas Finance Asia sells Global Pharm – On 15 September 2017, Adamas Finance Asia entered into a sale and purchase agreement with Fortune Insight Limited for the sale of its 75% interest in the company through which ADAM holds its interest in Global Pharm for US$15.6 million in cash. This is payable by Fortune within 120 […]
GCP Student Living says returns on target – GCP Student Living has published results for the year ended 30 June 2017. The highlights are: Total revenue for the year of £28.6 million. Annualised shareholder returns since IPO of 14.2%, in excess of the target return of 8-10%. Successfully raised £103.6 million through two oversubscribed placings […]
Board discussing fee level at Strategic Equity Capital – Over the year to 30 June 2017, Strategic Equity Capital generated an increase of 29.3% in its NAV per share. On a total return basis, the NAV return was 29.6%, which was ahead of the Small Cap ex Investment Trusts Total Return Index which increased by 28.4%. The share […]
Jupiter Dividend & Growth rollover into UK fund – Jupiter Dividend & Growth Trust comes to the end of its life on 30 November 2017. It has agreed in principle to proposals with Jupiter UK Growth Investment Trust under which the shareholders will be offered a choice of: rolling over their investment on a cost and tax […]
Crystal Amber lays out case for its portfolio after bumper year – Crystal Amber’s NAV increased by 32.9% over the year to the end of June 2017. They declared interim dividends of 2.5 pence in both July 2016 and December 2016, in line with the dividend policy of 5.0 pence per year. Including the dividends […]
Murray Income cuts fees as announces 44th year of dividend increases – Murray Income Trust reports that, for the year ended 30 June 2017, the company generated a Net Asset Value Total Return of 16.7%, a little bit behind the 18.1% return from the All-Share Index. The discount narrowed and that helped produce a share price return […]
Shareholders approve MedicX’s plant to become a REIT – the board of MedicX Fund Limited has announced that at the Extraordinary General Meeting of its Shareholders held at 4.30 p.m. on 12 September 2017, the special resolution proposing that the company becomes resident in the United Kingdom for tax purposes and enters the UK REIT […]
Civitas considering new fundraise – following the recent announcement of the acquisition of 11 properties for a consideration of GBP5.8 million the total equity invested by Civitas Social Housing REIT since IPO now exceeds GBP284 million (before purchase costs). Civitas has now established a diverse portfolio of built and income generating social homes in England and Wales […]
The People’s Trust, Daniel Godfrey’s long-trailed investment trust, launched its initial public offer (IPO) on Friday. It is aiming to raise £125 million. The fund intends to produce ‘better returns for you and a better impact on society’. There won’t be a huge dividend, a yield of about 1.8% is forecast, and this may curb […]
Portfolio concentration and duration rising at SQN Secured Income – SQN Secured Income says that, for the year ended 30 June 2017, it generated a net profit of GBP2.4 million and earnings per Ordinary Share of 4.63p. The company’s NAV at 30 June 2017 was GBP52.0 million and NAV per ordinary share 98.74p (cum income) compared with GBP53.4 million […]
Should investors buy an investment trust or a fund? – James Carthew of QuotedData talks to Jen Hill of Money Observer A recent comparison of open-ended funds versus closed-ended investment companies suggests the latter are losing their edge on charges, but compelling reasons remain to opt for investment trusts, writes Jennifer Hill Investment trusts have […]
LXi REIT buys another supported living portfolio – LXi REIT has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located across England. The purchase price is GBP12.9 million, reflecting a net initial yield of 6.0% (net of acquisition costs). Each property is immediately income producing and has been […]
Qatar Investment Fund – trade and travel ban hindered growth – in its results statement for the year ended 30 June 2017, Qatar Investment Fund’s chairman, Nicholas Wilson, said “The year to 30 June 2017 was one of mixed fortunes for Qatar. During the period, the country adjusted well to the realisation that oil prices […]
Custodian REIT buys Plymouth warehouse – Custodian REIT has acquired a 35,000 sq ft retail warehouse on Transit Way Retail Park, Plymouth, near the A38 Devon Expressway. The site comprises two units occupied by Magnet and B&M, with nearby retailers including Argos, Tesco, Lidl and Matalan. The units’ leases expire on 26 January 2027 and […]
Tritax buys Royal Mail distribution facility – Tritax Big Box REIT has acquired a Regional Distribution Centre at Riversdale Road, Atherstone let to Royal Mail Group Limited. The total consideration is GBP32.68 million (excluding purchaser’s costs), reflecting a net initial yield of 6.1% on the corporate acquisition. The purchase is being funded from equity. The […]
Vinaland plans distribution as sells Vina Square project – Vinaland is selling its stake in the Vina Square project, located in Ho Chi Minh City, Vietnam. The project consists of a total land area of approximately 3.0ha and was acquired by VNL in 2007, at which time the land was designated as a future development site. […]
