Over the year to 31 March 2016, Biotech Growth Trust’s net asset value per share fell by 24.8% during the year, underperforming the Company’s benchmark, the NASDAQ Biotechnology Index, measured in sterling terms, which fell by 21.8%. The Company’s share price fell further, by 26.3%, as the discount of the Company’s share price to the […]
Electra Private Equity has provided what it describes as an “Interim update on the review of the Company’s investment strategy and policy and its structure”. Electra say that the review, which was announced in January, is on track for completion in the autumn. However, they say that a number of interim conclusions have been reached […]
Chenavari Capital Solutions has published interim accounts covering the six months to the end of March 2016. The NAV as at 31 March 2016 was GBP121.6 million with a NAV per Share of 93.31 pence. Total dividends during the period were 4 pence per Share, the NAV total return for the period was -1.17%. The shares were quoted […]
Alternative Asset Opportunities says its interim report for the six months to December 2015 referred in some detail to insurers applying increases to applicable premium rates. These are known as ‘cost of insurance’ (COI) increases. COI increases have historically been very rare and, although they can be implemented each year by the insurer, until September 2015 […]
Schroder Income Growth says that, during the six months ended 29 February 2016, the net asset value produced a negative total return of 1.4%, broadly comparable to that of the FTSE All-Share Index, which fell by 1.2% over the period. The company’s share price declined by 8.5% in total return terms during the period as the […]
Standard Life Equity Income says, in the six months to 31 March 2016 its diluted net asset value total return was 0.7%. This compares with the benchmark total return of 3.5%. The discount on SLET’s shares widened slightly from 0.4% six months ago to 1.6% at 31 March, producing a decline of 0.7% in the share price total […]
JPMorgan European Smaller Companies Trust, chaired by Carolan Dobson (pictured), has announced its final results for the year ended 31 March 2016. During the year, the trust produced a net asset value total return of +16.6%, compared with the benchmark total return of +7.2% over the same. The share price total return for the year was +19.7%, […]
The Edinburgh Investment Trust, managed by Mark Barnett (pictured), has announced its annual results for the year ended 31 March 2016. During the year, the trust produced an NAV total return +4.6% (with dent at market value) versus a negative return of 3.9% for the trust’s benchmark, the FTSE All-Share Index. The company’s share price total […]
UK Mortgages Limited and its manager, TwentyFour Asset Management LLP, have announced that Malt Hill No.1 Plc (a public securitisation backed by buy-to-let mortgages originated by Coventry Building Society Group) has successfully completed the public sale of £263.3mm of AAA-rated bonds. As previously announced, the securitisation is backed by buy-to-let mortgages originated by Coventry Building […]
Anglo Pacific Group PLC reported royalty income of £1.9 million in Q1 2016, down from £2.3 million in the previous year. However, the company expects the majority of its royalty income, similar to 2015, will be received in H2 2016. According to CEO, Julian Treger, “We continue to expect royalty income for 2016 as a […]
TR Property has announced results for the year ended 31 March 2016. The NAV rose 8.2% which was well ahead of the benchmark rise of 5.4%. However the share price total return was -1.6%. The Directors have announced a final dividend of 5.20p per share, a 9.5% increase over the prior year final dividend. This […]
Great Portland Estates has reported results for the year ended 31 March 2016. At the end of March its EPRA NAV per share was 847 pence (pre-SDLT increase: 857 pence), up 19.5% in the year. EPRA profit before tax for the year was GBP47.8 million, up 6.0% on 2015. this translates into EPRA earnings per […]
Over the year to the end of March 2016, NewRiver Retail delivered an 11% increase in its EPRA NAV (295p vs. 265p). EPRA adjusted profit increased 125% to GBP47.1 million (2015: GBP20.9 million) resulting in a 34% increase in EPRA adjusted earnings per share (26.6 pence vs. 19.8 pence). Profit before tax increased 76% to GBP69.5 million (2015: GBP39.5 […]
Shaftesbury reports that its EPRA NAV at the end of March 2016 was GBP8.93 per share, an increase of 24 pence (2.8%) over six months, after a reduction of 10 pence per share as a result of the increase in SDLT announced in the March 2016 Budget. EPRA earnings increased by 12.8% to GBP20.2 million (six months ended […]
Majedie has announced its interim results for the half year ended 31 March 2016. During the period the trust provided an NAV total return of 3.4% although, reflecting a widening of the discount during the period, share price total return was -0.7%. In comparison, the FTSE All-Share Index and MSCI World Index rose 3.5% and […]
MedicX Fund has announced its interim results for the six-months ended 31 March 2016. During the period, the company’s EPRA NAV has grown by 0.6% to 71.2p per share (30 September 2015: 70.8 pence per share) whilst its EPRA earnings were £6.8m, equivalent to 1.8p per share (31 March 2015: £7.0 million; equivalent to 2.0p […]
Tritax Big Box REIT has announced that it has exchanged contracts to acquire a National Distribution Centre, let to DSG Retail Ltd (part of the Dixons Carphone plc group), for £77.3m (excluding acquisition costs). The purchase, which is being funded from equity proceeds, reflects a net initial yield of 5.86%. Completion is expected to take […]
McKay Securities delivered 11% growth in its EPRA NAV over the year that ended on 31 March 2016. The EPRA diluted earnings per share rose from 5.22p to 7.76p. The Board is recommending a 1.7% increase in the final dividend to 6.1 pence per share (March 2015: 6.0 pence). This will be paid as an ordinary dividend on […]
British Empire Trust (formerly British Empire Securities & General trust) has announced its interim results for the six-months ended 31 March 2016. During the period, the trust provided NAV total return of 5.6% and a share price total return of 4.6% both of which underperformed its lead benchmark index, the MSCI All Country World ex-US […]
EPE Special Opportunities has published results for the year ended 31 January 2016. The Net Asset Value at 31 January 2016 was 160.00 pence per share, an increase of 12.6% on the NAV per share of 142.13 pence as at 31 January 2015. The share price at 31 January 2016 was 124.50 pence, representing an increase […]
Over the year to 31 March 2016, Martin Currie Asia Unconstrained’s net asset value (‘NAV’) of the company fell by 7.9% on a total return basis, while the share price dropped 10.3% as the discount widened from 11.2% to 14.3%. By comparison, the MSCI Asia ex- Japan index fell 8.7%. Subject to shareholders’ approval, a final […]
Over the six months to the end of March 2016, Lowland’s total return and that of its benchmark, the FTSE All Share Index, were both virtually unchanged with Lowland up 3.8% and the Index up 3.5%. The Company paid a first interim dividend of 11.0p at the end of April, and now declares a second interim […]
FastForward has published accounts for the year ended 31 March 2016. This has been a transformative year for the company as it adopted a new investment strategy. The net assets of the Company at 31 March 2016 were £10,277,000 (2015: £463,000), equal to 7.85p net assets per Ordinary Share (2015: 1.69p net assets per Ordinary Share). The share […]
JPMorgan Japanese says for the six months ended 31st March 2016 the total return to shareholders was +8.5% in sterling terms, with a total return on net assets of +14.2%, compared with a rise in the Company’s benchmark of +8.3%. The manager says the outperformance versus the benchmark was due primarily to stock selection and, […]
JPMorgan Chinese beat its new benchmark over the six months ended 31 March 2016 – generating a return on net assets of 6.8% against 6.2% of for MSCI China (from 26 January) and MSCI Golden Dragon (before 26 January). Had they stuck to the MSCI Golden Dragon Index though, the fund would have underperformed (the six […]
F&C Capital & Income has published figures for the six months ended 31 March 2016. Over this period on a total return basis, the company’s net asset value per share rose by 4.8% against the FTSE All-Share return of 3.5%. On the same basis, the share price of the company rose 3.8% as the premium to […]
UK Mortgages Limited and TwentyFour Asset Management LLP have created Malt Hill No.1, a public securitisation backed by buy-to-let mortgages originated by Coventry Building Society Group. These mortgages were purchased in November 2015 by UK Mortgages Corporate Funding Designated Activity Company. The securitisation transaction was announced on 23rd May, with a view to price the Class A notes […]
Gemfields plc achieved a record US$5.15 per carat for lower quality rough emeralds at its latest auction held in Jaipur, India, last week. The company sold 14 lots (out of 18 offered) comprising 2.78 million carats, representing 76% of gemstones offered. The auction raised revenue of US$14.3 million. The gemstones were mined by the company’s […]
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