News

Menhaden Capital published its first set of results on 31 March 2016. these cover the period from its incorporation, through its listing on 31 July 2015 and up to 31 December 2015. Menhaden’s net asset value decreased from 97.7p (post IPO expenses of 2.3p) to 83.9p, representing a decline of 14.1% for the five months […]

The Board of Aberdeen Private Equity Fund Limited  has announced  that it has signed a supplemental agreement to amend the terms of its existing secured £15m multi-currency revolving credit facility with Lloyds Bank plc to a secured £40m four year multi-currency revolving credit  facility. The facility will be available for general corporate and working capital purposes in accordance […]

Pacific Assets say that, during the year ended 31 January 2016, the company’s net asset value per share total return was -6.6%. For comparison, the MSCI All Country Asia ex Japan Index, measured on a total return, sterling adjusted basis, fell by 13.1%. A narrowing of the discount of the company’s share price to its net […]

2015 was a good year for Fidelity Japanese Values as it returned 24.6% on net assets and 20.5% to shareholders – both beating the total return on the Russell Nomura Mid/Small Cap Index Total Return (in sterling terms) which returned 19.4%. Nicholas Price’s manager’s report says, over the year, stock selection in the services sector […]

Foresight Solar Fund Limited has reached financial close on a £160m long-term debt facility. This facility will wholly refinance their £150m  short-term acquisition facility currently in place. The long-term facility will be provided by Macquarie Infrastructure Debt Investment Solutions (“MIDIS”) and Abbey National Treasury Services (“Santander”) as follows: Tranche                           Amount         Tenor    Coupon/Margin Fixed-rate […]

Over the six months to 31 January 2016 the Henderson EuroTrust’s Net Asset Value (“NAV”) total return fell by 1.9%. This compares with a return on the benchmark index,  FTSE World Europe (ex UK) Index of -6.1%. The share price total return was down by 5.1%. An interim dividend of 6.0p, an increase of 0.5p […]

The Chairman of Aberdeen Asian Income, Peter Arthur, says its performance was disappointing over the year that ended on 31 December 2015. The net asset value per Ordinary Shares (“NAV”) fell by 9.9%, trailing the 3.9% decline in the MSCI All Country Asia Pacific ex-Japan Index. The share price fell by 16.8% on a total return basis […]

Empiric Student Property has announced that it has acquired the freehold of a 44 bed student accommodation property, Stonemason House, in Oxford for £4.5m (excluding costs). Stonemason House, which is the company’s first acquisition in Oxford, was built in 2011 as a new build scheme in time for the 2011/12 academic year. The property comprises […]

Randgold Resources has reported attributable gold reserves at the end of 2015 of 14.6 Moz, a 3.5% reduction after depletion from the previous year. The average grade of reserves remained at 3.6 g/t using a gold price of US$1,000/oz. The largest reserve base is at Kibali, (45%-owned) in DRC, where reserves were 4.7 Moz of […]

Merchants Trust, managed by Simon Gergel (pictured) has announced its annual results for the year ended 31 January 2016. In what its Chairman, Simon Fraser, describes as a difficult year for equity markets, the trust has provided an NAV total return of -5.0% thereby modestly beating its FTSE All-Share benchmark, which provided a total return of […]

The Board of Empiric Student Property has announced that the group has acquired the land and entered into a forward funded development agreement for a 115 bed, premium student accommodation development in York for a total funding commitment of £11.1m. The property, Empiric’s first in York, is located between York city centre and the University of […]

Aseana Properties Limited announces that it has agreed to dispose of the Aloft Kuala Lumpur Sentral Hotel to Prosper Group Holdings Limited.   The gross transaction value is approximately RM418.7 million (approx. US$104.6 million), which includes the purchase of the entire issued share capital of ASPL M3B Limited and Iringan Flora Sdn Bhd (the “Aloft Companies”), and […]

Dunedin Income & Growth says it recorded its first year of negative absolute returns since the banking crisis of 2008/09 with a NAV Total Return of -11.5%. This meant it underperformed the FTSE All-Share Index by 6.9%. The Board is proposing a final dividend of 3.675p per share which will make a total dividend of 11.4p […]

The Board of Lindsell Train Investment Trust has announced that it has agreed with Lindsell Train Limited an amendment to the calculation of the investment management fee described in the Investment Management Agreement dated 13 August 2014. Under the current Investment Management Agreement, Lindsell Train Limited as the manager is entitled to receive an investment management […]

http://www.cityam.com/237716/gold-bullion-is-rising-and-shares-in-gold-miners-have-powered-ahead-too-are-mining-stocks-the-shining-investment-of-2016 Gold bullion is rising and shares in gold miners have powered ahead too. Are mining stocks the shining investment of 2016? Gold bullion has been among the best-performing investments so far this year, as prices rose 18 per cent from the start of January up to mid-March. Since gold’s low of $1,050 an ounce in […]

Asian Total Return says, during the year ended 31 December 2015, it produced a net asset value total return of 2.9%, compared to a total return of -4.1% by the Reference Index and a total return of -1.8% from the average peer group NAV. The Board has declared a final dividend of 3.80p per share for the […]

BlackRock Emerging Europe’s net asset value per share fell by 10.1% in US Dollar terms (4.8% in sterling terms) over the year to the end of January 2016 which compared favourably with the benchmark net return of -14.2% in US Dollar terms (-9.1% in sterling terms). The share price fell by 9.9% (-4.6% in sterling terms) […]

Fidelity Asian Values says, over the six months to 31 January 2016, the company’s net asset value strongly outperformed the MSCI All Countries Asia ex Japan Index. The company’s NAV returned 3.1%, compared with a fall of 6.6% for the index. The share price return was 1.2%, the discount having widened from 10.7% at the start […]

For the six months ended 31st January 2016, JPMorgan Global Emerging Markets Income reported a 12.9% decrease in net assets per share. This compares with a decrease of 8.7% from the MSCI Emerging Markets Index (in sterling, with net dividends reinvested). The Chairman’s statement describes this as disappointing. The company’s share price has now moved […]

NewRiver Retail Limited confirms that it is in advanced negotiations with a vendor which may or may not lead to the acquisition of the Broadway shopping centre and Broadway Square in Bexleyheath town centre, London Borough of Bexley for approximately £120m (subject to negotiation). The assets under consideration total 525,000 sq. ft. across an 11-acre site and […]

City Merchants High Yield has announced results for the year ended 31 December 2015. The fund produced a total return on net assets of 2.7% and a return to shareholders of 0.9%. The dividend was maintained at 10p. According to data from Merrill Lynch, European currency high yield bonds had a total return for the […]

Martin Currie Global Portfolio has announced its annual results for the year ended 31 January 2016. During the period, which the trust’s chairman describes as one that, “has been exceptionally challenging for global stockmarkets with significant economic and political uncertainty resulting in periods of unusual volatility”, the trust’s NAV total return was 0.9% compared with […]

Athelney Trust has made an announcement that its directors, “have resolved to seek to increase its capital base” by issuing up to a maximum of 9.9% of the trust’s existing issued share capital, for cash, subject to market demand. The trust has recently been trading at a mild premium and its 2015 results saw it […]

GLI Finance has announced its annual results for the year ended 31 December 2015. The company describes 2015 as “a year of significant change, both in the management of the business and in corporate transactions undertaken.” The company commenced a strategic review in December 2015 and they say that significant progress has already been made […]

JPMorgan Private Equity has announced its interim results for the six-months ended 31 December 2015, a period which the company describes as being ‘notable’. Specifically, proposals were announced to move the management contract to an affiliate of Fortress Investment Group LLC (this transaction was completed after the period-end on 11 March 2016.) The company also […]

Capital Gearing Trust has announced that, to meet the recent and continuing demand for its shares, its Board of Directors is now seeking an early renewal of its authority to issue further ordinary shares, for cash, on a non pre-emptive basis. Reflecting this, the trust has published a circular convening a general meeting to be […]

Mithras has announced that, following what it describes as, “a strong start to 2016 in terms of exit proceeds received”, that it is currently preparing for its fifth tender offer. The trust says that this is expected to be for no less than £9.0m and should be completed, including obtaining approvals and receiving tender offer […]

Tritax Big Box REIT has announced that it has acquired Argos’ National Distribution Centre at Barton Business Park, Burton-upon-Trent, Staffordshire for a purchase price of £74.65m (net of acquisition costs), reflecting a net initial yield of 5.55% on the corporate acquisition. The purchase has been funded from equity proceeds, with senior debt finance expected to be […]

F&C Private Equity reports that its net assets at the year-end were £216m giving a fully diluted net asset value (‘NAV’) per Ordinary Share of 295.74p. Taking into account dividends paid during the year which total 11.03p, the NAV total return was 10.7 per cent. This compares to a total return from the FTSE-All-Share Index […]

International Public Partnerships has published results for the year ended 31 December 2015. The NAV increased by 2.5% to 130.2p. They have declared a full year 2015 fully covered cash dividends up c.2.5% at 6.45 pence per share and set a minimum target dividend for 2016 financial year of 6.65 pence per share and for 2017 of 6.82 […]