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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

05 Aug 2015

Electra agrees the sale of Nuaire for £145m

Electra Private Equity has announced that it has agreed to sell its interest in ventilation systems manufacturer Nuaire to Polypipe Group in a deal valued at approximately £145m. On completion of the transaction, which is expected during August, Electra is to receive proceeds of approximately £72m. This represents an uplift of £24 million, or 50% on the […]

04 Aug 2015

Henderson Smaller shareholders get bumper year and a fee cut

Over the year to the end of May 2015, Henderson Smaller Companies generated a 20.4% return on net assets and a 28.2% return to shareholders both of which compare well to a 10.4% return on the Numis Smaller Companies Index for the same period and the average returns for HSL’s peer group (14.3% on NAV […]

Sectors
04 Aug 2015

Pacific Alliance Asia Opportunities proposes liquidation

The Board of Pacific Alliance Asia Opportunities has been worried about the fund becoming too small and believes a large number of shareholders want to swap their investment for one in the underlying feeder fund through which the fund invests. It is proposing therefore that the closed-end fund be wound up. they have called an […]

Sectors
03 Aug 2015

MedicX extends debt maturity

MedicX Fund Limited has announced that it has negotiated extended terms for the £50m private placement of loan notes issued in two tranches during August and December 2014. The renegotiation was facilitated by the original loan note arranger Independent Debt Capital Markets. The loan notes previously had a duration of five years maturing in August […]

03 Aug 2015

John Laing Environmental buys two more solar projects

John Laing Environmental Assets has bought two solar plants for £20.37m. Monksham Solar is located near Frome in Somerset, with a total generating capacity of 10.7MW and is accredited for 1.6 ROCs. John Laing Environmental Assets has bought all its ‘B’ shares plus other economic interests from the founding shareholders and Green Nation, the developers of […]

03 Aug 2015

Cambium Global Timberland NAV plunges

Cambium Global Timberland’s net asset value on 30 April 2015 was 23p per share compared with 40p as at 30 April 2014, a fall of 42.5%. Currency movements took off 8.5%, changes to the valuation of the timber assets and related provisions took of 26.3% and net expenditure on forestry and other costs accounted for the remaining 7.7%. £5m […]

31 Jul 2015

Martin Currie Pacific name change takes effect

The trust formerly known as Martin Currie Pacific has announced today that, following shareholder approval at the AGM on 6 July 2015, the company’s name has now changed to Martin Currie Asia Unconstrained Trust. The Company’s ticker code “MCP” and ISIN will both remain unchanged. Martin Currie Pacific name change takes effect : MCP

Sectors
31 Jul 2015

Fidelity European Values beats benchmark during first half

Fidelity European Values, managed by Sam Morse (pictured) has announced its results for the six months ended 30 June 2015. During the period, the trust’s NAV total return was 6.1%, which was ahead of that of the FTSE World Europe (ex UK) Index of 4.1%. The share price total was even further ahead at 9.8% reflecting […]

Sectors
31 Jul 2015

European Assets Trust outperforms benchmark in H1

European Assets Trust, managed by Sam Cosh (pictured) has published its interim results for the six-months ended 30 June 2015. During the period, the trusts share price and NAV total returns (23.3% and 22.9% in Euro terms respectively) beat the Euromoney Smaller European Companies (ex UK) Index, which returned 18.5% during the same. Not surprisingly, […]

Sectors
31 Jul 2015

Ashmore Global Opportunities to make further capital return

Ashmore Global Opportunities has announced that, as part of the managed wind-down approved by shareholders in March 2013, it will return 129.49p and 131.77 US cents per GBP and USD share respectively, on 7 August 2015, by way of a compulsory partial redemption of shares. The redemption values are calculated by reference to the 30 […]

Sectors
31 Jul 2015

Nicholas Price to takeover as manager of Fidelity Japanese Values

Fidelity Japanese Values has announced that Nicholas Price (pictured) will be taking over, as manager of the trust, from 1 September 2015. He replaces Shinji Higaki who has managed the portfolio for eight years. Nicholas has over 20 years’ experience in the Japanese equity market. He joined Fidelity’s Tokyo office in 1993 as a research analyst […]

Sectors
30 Jul 2015

Good start to 2015 for Aberforth Smaller

Aberforth Smaller Companies interims for the six months ended 30 June 2015 show the fund generating a total return on net assets of 15.3%, well ahead of the 11.8% return on the Numis Smaller Companies ex Investment Companies Index. The return to shareholders was 12.9% as the discount widened from 7.7% to 9.8%. The interim […]

Sectors
30 Jul 2015

Mithras enjoying favourable exit environment

Mithras results for the first half of 2015 show the NAV falling from 162.1p to 158.4p meaning that the NAV total return was also negative -1.7%. The return to shareholders was 3.5%. these numbers compare to a 3.5% return on the FTSE All-Share Index. the Company completed its fourth tender offer in June 2015, buying back a […]

Geographies
  • UK
  • North America
  • Europe (EU and EEA ex UK)
30 Jul 2015

Good equity performance from F&C in H1

Foreign & Colonial’s results for the first half of 2015 show it delivering a return on net assets of 4.1% and a return to shareholders of 4.0%. By contrast the FTSE All-World Index returned 2.2%. The first interim dividend of 2.3p for 2015 will be paid on 3 August. Second and third interim dividends of […]

Sectors
30 Jul 2015

Private Equity Investor benefits from dollar strength

Private Equity Investor’s net asset value fell in dollar terms over the year to the end of March 2015 from $3.808 to $3.544 but rose in sterling terms from 228.4p to 238.7p as the dollar strengthened. The share price rose by 6.6% as the discount narrowed to 18.5%. £8.5m was returned via a tender offer […]

30 Jul 2015

Tiso Blackstar ups stake in Robor

Tiso Blackstar says it will increase its interest in Robor from 19.4% to 51%. Tiso Blackstar will purchase additional ordinary shares in Robor from certain existing Robor shareholders for a consideration of R29.6m (£1.5m) which will be settled through the issue of new Tiso Blackstar shares at intrinsic net asset value per share. Established in 1922, Robor […]

Sectors
30 Jul 2015

Highcroft revenue up reflecting deals

Highcroft Investments reports an increase in its net asset value from 923p to 965p over the six months ended 30 June 2015. The interim distribution has been increased by 8% to 14.3p. Gross rental income was up 7%, primarily on the back of rental income from properties in Ash Vale and Crawley purchased in the second half of 2014 and […]

Sectors
30 Jul 2015

Aberdeen UK Tracker fees cut

Aberdeen UK Tracker has done its job and tracked the FTSE All-Share Index over the first half of 2015 and now has a 25 year track record of doing so. The Board are happy but they have decided to cut the fees they pay to Aberdeen to manage the fund – the new fee basis […]

Sectors
29 Jul 2015

Phoenix Spree buys Friedrichshain apartment complex

Phoenix Spree Deutschland has announced the acquisition of an apartment complex located in Friedrichshain, Berlin. The purchase price is €16m which works out at a price per square metre of €2,580 or a prospective gross yield of 4.8%. they say the deal will increase the Fund’s rental income by c. 6%. The apartment complex is located […]

Sectors
29 Jul 2015

M&G High Income wants to use derivatives

M&G High Income Investment Trust has announced results for the year ended 31 May 2015. On a net asset value basis, each Package Unit delivered a total return of 8.8% over the 12 months to 31 May 2015. This was above the returns of the FTSE 350 Higher Yield Index and the FTSE All-Share Index, which […]

Sectors
29 Jul 2015

Aberforth Geared Income thinking about its future

Aberforth Geared Income has announced results for the year ended 30 June 2015. The return on the portfolio for the period was 15.4% which compares well to a 2.6% return on the FTSE All-Share Index and 10.4% on the Numis Smaller Companies Index (excluding investment companies). The return due to the zeros was 6.75% so […]

Sectors
29 Jul 2015

Riverstone Energy now fully committed

Riverstone Energy reports a 2.25% uplift in its NAV for the six months ended 30 June 2015. They say assets at the end of the period were worth $1.244bn or $16.36 per share. they invested another $180m over the period taking the amount invested to 46% of their available capital. Commitments in the period totalled […]

29 Jul 2015

BBGI buys two schools projects

BBGI has signed a Sale and Purchase Agreement with John Graham Holdings Limited to acquire 100% of the equity and subordinated debt interests in two educational PPP projects in Northern Ireland. Belfast Metropolitan College is an educational campus comprising two five-storey teaching facilities and a two-storey engineering facility with associated car parking and a landscaped […]

29 Jul 2015

Law Deb’s share price weak in H1

Law Debenture beat the FTSE All-Share Index over the first half of 2015 but the share price weakened. The NAV total return was 3.8% vs. 3% for the index and the share price return was -1.6%. The interim dividend has been increased from 4.7p to 5.2p. The report says the stocks that added the most […]

Geographies
  • UK
  • North America
  • Europe (EU and EEA ex UK)
Sectors
Companies
29 Jul 2015

Brunner ahead in H1

Brunner’s performance over the six months ended 31 May 2015 was 3% better than its benchmark as it returned 9.8% vs. 6.8% for its composite benchmark (50% FTSE All-Share, 50% FTSE World Index ex UK). The dividend has been increased from 6.1p to 6.4p. The statement says “Performance benefited from positive stock selection in Consumer […]

Sectors
28 Jul 2015

Candover sells Fokker stake

Candover Investments has announced a partial realisation of Stork BV with the sale of Fokker Technologies Group BV for €706m.  Arle Capital Partners has agreed to sell Fokker, a subsidiary business of portfolio company Stork BV, to GKN. Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets.  With almost 5,000 employees […]

28 Jul 2015

Greencoat UK Wind generates 10% more power than forecast in H1

Greencoat UK Wind has published results for the first half of 2015. Over the period the NAV rose by 0.2%. Dividends totalling 3.13p per share were declared for the period. High winds meant that electricity generation was 10% ahead of expectations at 408GWh. This helped them generate cash of £29.2m and pushed the dividend cover […]

28 Jul 2015

SEGRO beats IPD in UK and expands in Europe

Over the first half of 2015 SEGRO generated an 8.3% uplift in its EPRA NAV to 416p. Adjusted profits were up 3.7% to £69.2m driving the adjusted EPS up 3.4% to 9.2p. Rental income was up 4.3% like-for-like. the interim dividend is up 2% to 5p. Capital growth in the portfolio was driven by the […]

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