Ecofin Water & Power Opportunities has announced proposals for a reconstruction of the fund, ahead of a continuation vote, which is due to be held before the end of June 2016. The board say that, subject to the passing of the Continuation Vote, the Company intends to propose a scheme of reconstruction with shareholders being: […]
Invesco Perpetual Select Trust plc has announced that the Directors have agreed with the company’s Manager, Invesco Fund Managers Limited, an amendment to the fees payable under the Investment Management Agreement. The amendment is to the fee payable on the Managed Liquidity portfolio, which will reduce from an annual rate of 0.25% to 0.12% of […]
Target Healthcare REIT Limited has announced that it has completed the acquisition of a modern, purpose built care home in Southport, Merseyside for approximately GBP6.6 million including acquisition costs. The home, Parklands Lodge, is newly constructed having opened its doors to residents in early May. It comprises 67 bedrooms with full ensuite bathrooms including wetroom […]
Northern Investors says that the orderly realisation strategy adopted by shareholders in 2011 has made significant progress over the past year, with a continuing reduction in the number of remaining holdings in the portfolio and significant further returns to investors. In March 2016 the company completed its fifth tender offer to shareholders, as a result of […]
JPMorgan Asian has announced the appointment of Ayaz Ebrahim, as joint fund manager of the Company, alongside Richard Titherington. Ayaz, a Managing Director at JPMorgan Asset Management and based in Hong Kong, is a highly experienced portfolio manager who heads the Asia Pacific Core Team and chairs the Asset Allocation Committee within the Emerging Markets and […]
Following the acquisition of Amedeo Air Four Plus’ initial six A380 aircraft , and in line with its investment policy, the Company continues to seek further investments in widebody aircraft, which will be leased to one or more major airlines. The Board currently anticipates that it will consider, with the advice of Amedeo and Nimrod […]
Investors Capital has released results for the year ended 31 March 2016. The Company’s Equities Portfolio produced a total return of -2.4 per cent. during the year to 31 March 2016, while the Higher Yield Portfolio returned 1.1 per cent. Returns from the Equities Portfolio and the Higher Yield Portfolio, combined with the effect of […]
VinaLand and VinaCapital Vietnam Opportunities are selling their stakes in the Danang Golf Project. The project, acquired by VNL and VOF in 2006, is situated in Danang on 219.8ha of land and includes a completed 18-hole golf course with related facilities as well as residential dwellings, some of which are currently under construction. The project site […]
Standard Life Investments Property Income Trust has announced that it has completed the sale of Turin Court, a small office building in Stockport, for £2.95m. The trust says that Turin Court is a modern office but the current tenant is due to leave in July 2016, following the expiry of the lease, and capital expenditure […]
John Laing Infrastructure has announced that it has entered into an agreement to acquire a 100% interest in Project Service LLC, the provider of 23 highway service areas in the State of Connecticut (USA), between New York and Boston. John Laing Infrastructure has purchased the interest from Carlyle Infrastructure Service Plazas, L.P. (an affiliate of The […]
Caledonia delivered a positive net asset value per share total return of 2.6% for the year ended 31 March 2016, compared with 14.2% for the previous year. Over the year, the FTSE All-Share Total Return fell by 3.9%, though the S&P 500 remained flat. The Chairman emphasises though that they do not seek to benchmark performance […]
Henderson Alternative Strategies delivered a NAV total return of -2.3% during the half-year to 31 March 2016 compared to a rise of 11.5% in its FTSE World Total Return Index global equity benchmark. The Chairman’s statement says that, whilst the company tends to outperform in testing markets (e.g. for the six-month period to 30 September 2015), […]
Blue Capital Global Reinsurance Fund has announced that it has entered into a credit facility with Endurance Investments Holdings Ltd.(a wholly-owned subsidiary of Endurance Specialty Holdings Ltd. , which holds indirectly 25.1% of the Company’s issued ordinary shares and is the ultimate parent company of the Company’s investment manager). The Credit Facility provides the Company […]
Assura has announced its preliminary results for the year ended 31 March 2016. It saw a 3.9% growth in diluted EPRA NAV per share to 45.8 pence. Profit before tax fell to GBP28.8 million from GBP36.6 million after GBP34.1 million debt early repayment costs. The enlarged property portfolio delivered a Total Property Return of 8.9%. Assura raised […]
Eastern European Property has just published results for the year ended 31 December 2015. Eastern European Property’s consolidated net asset value (“NAV”) at 31 December 2015 was GBP15.8 million, equivalent to 101.46p per Ordinary Share (2014: GBP16.4 million; 105.36p per Ordinary Share). The Company’s share price decreased by 14.375p during the year to 50.75p at 31 December 2015, with the discount […]
Land Securities has announced results for the year ended 31 March 2016. Over that period its NAV rose by 10.3% to 1482p and its adjusted, diluted NAV rose by 10.9% to 1434p. Revenue profit rose by 10% to £362.1m and this pushed adjusted, diluted EPS up 10.1% to 45.7p. From this they declared dividends totalling […]
River & Mercantile UK Micro Cap’s NAV return for the six months ended 31 March 2016 was 8.3%, well ahead of the benchmark’s return of +0.9%. The manager’s report analyses the largest contributions to the fund’s performance over the period. The largest positive contributions came from KBC Advanced Technologies, IS Solutions, Trakm8, Blue Prism and Sigma Capital. […]
HICL Infrastructure has announced results for the year ended 31 March 2016. The NAV per share was 142.2p at 31 March 2016 (2015: 136.7p), which was ahead of budget. Total shareholder return for the year was 9.6% on a net asset value (“NAV”) total return basis and 6.8% on a share price total return basis. […]
Starwood European Real Estate Finance Limited announced on 16 May that it has arranged GBP158.1 million loan facilities for certain affiliated companies of Värde Partners to refinance a portfolio of 141 retail, office and industrial assets located throughout the UK. With 393 tenants the Portfolio reflects very strong diversification in terms of tenant, geography and sector. […]
Over the six months ended 31 March 2016, TwentyFour Select Monthly Income’s net asset value fell from 92.59p to 85.97p and the share price fell from 96.625p to 88.75p. The dividend was maintained at 0.5p per month. The Chairman says challenging market conditions resulted in a period of high price volatility for the Company’s portfolio […]
Sirius Minerals Plc has increased reserves at its North Yorkshire polyhalite project by 12% following the completion of a Definitive Feasibility Study earlier this year. The probable reserve now stands at 280.2 Mt at an average grade of 88.4% for 247.7 Mt of polyhalite contained as a result of the inclusion of mineralisation previously reported […]
Invesco Perpetual Enhanced Income has announced its interim results for the Six Months to 31 March 2016. During the period, which the managers describe as a volatile period for high yield bond markets, the company provided an NAV total return of 3.8% and a share price total return of 4.7% (the share price premium to […]
Empiric Student Property has announced that it has entered into a nomination agreement with Falmouth Exeter Plus, which delivers all shared services, including accommodation, to the students of Penryn Campus, in respect of the Group’s existing 137 bed operating property in Falmouth, Maritime Studios (pictured). The duration of the Nomination Agreement is for three years […]
Raven Russia has announced proposals for a fundraising, for a minimum of £105.5m, by way of a placing of new convertible redeemable preference shares. The company says that it has secured firm commitments from existing institutional investors and the EBT to subscribe for an aggregate amount of approximately £105.5m convertible preference shares and is in […]
BlackRock Frontiers, managed by Sam Vecht (pictured) and Emily Fletcher, has announced its interim report for the six months ended 31 March 2016. During the period, the trust provided an NAV total return of -0.1% and share price total return of 0.1%, thereby outperforming the MSCI Frontier markets index which returned -2.2% but underperforming the MSCI […]
British Land have announced their annual results for the year ended 31 March 2016. During the year, the company says that underlying profit increased by 16.0% to £363m, whilst the company’s EPRA NAV increased by 10.9% to 919p per share (or 932p pre the budget stamp duty increase). The company generated an IFRS profit before […]
Custodian REIT has announced that it has sold a purpose-built student residential building in Lenton, Nottingham for £1.2m, which is ahead of cost and the 31 March 2016 valuation. The property, which was part of the initial portfolio acquired on Custodian REIT’s admission to the London Stock Exchange in 2014, was fully let for the […]
Custodian REIT has announced the results of its placing (as announced on 19 April 2016), which raised £20.98 million before costs and expenses. The placing price of 104.9 represents a premium of approximately 5.0% to the unaudited NAV as at 31 March 2016 as adjusted to deduct the dividend of 1.6625 pence per share payable […]
Scottish Mortgage has announced its annual results for the year ended 31 March 2016. During the period, which its chairman says, “has not been as strong as in recent years”, the company’s NAV effectively remained flat in total return terms (it fell 0.1% over the year) but beat it FTSE All-World Benchmark, which declined by […]
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