Standard Life Investments Property Income announces recent deals – Standard Life Investments Property Income Trust has completed two investment transactions. The first is the purchase of a 46,800sqft industrial unit in Birmingham, close to an existing asset that the company owns. The purchase price of GBP4.58m reflects an initial yield of 5.75%, and the property […]
Alpha Real completes H2O disposal – Alpha Real Trust announces the successful completion of the sale of a 70% equity interest in the H2O shopping centre in Madrid (“H2O”) to CBRE European Co-Investment Fund, managed by CBRE Global Investors in line with the terms previously advised. As previously announced, Alpha Real Trust will retain a […]
Dunedin Enterprise benefits from Blackrock sale – Dunedin Enterprise Investment Trust PLC has announced the successful realisation of its investment in Blackrock PM, the provider of independent expert witnesses to dispute and litigation resolution in the construction sector. Capital and accrued interest in Blackrock was valued at GBP10.4m as at 31 March 2017, the last […]
LondonMetric Property sells Milford Haven retail park – LondonMetric Property Plc has announced that it has sold its retail park in Milford Haven for GBP15.3 million. The 84,000 sq ft Havens Head Retail Park was acquired in 2010 for a net GBP14.2 million and is anchored by a 38,000 sq ft Tesco food store with other […]
VinaCapital Vietnam Opportunities invests in toll road operator – VinaCapital Vietnam Opportunities has become a significant investor in Tasco JSC (HNX: HUT), a leading toll road operator and real estate development company in northern Vietnam, via a private placement. Tasco’s private placement raised USD23 million by issuing 21% of post-investment common shares to several investors including […]
Diverse Income underperformance attributed to lack of AIM growth stocks – Diverse Income Trust has published results for the year ended 31 May 2017. The net asset value rose by 13.6% from 91.02p to 103.43p over the year. This compares with an increase in the All-Share Index of 20.0% over the year to 31 May 2017. […]
James Carthew: HICL paid high price for Affinity This week’s column was written before the announcement of HICL leading a consortium to buy the HS1 high-speed rail line between London and the Channel Tunnel. My focus this week is on HICL Infrastructure (HICL), a stock that I hold. Briefly, around the beginning of July, its […]
ESO: the private equity fund lighting up an overlooked sector Private equity investment trusts have not been left behind by this year’s stock market rally with their shares up an average 18%. One fund often overlooked in this still neglected sector is EPE Special Opportunities (ESO), an £86 million, AIM-listed, Isle of Man based investment […]
Fundsmith Emerging wants to invest more in India – in its interim report, published today, Fundsmith Emerging Equities is proposing a change to its investment policy. Investment Policy Review “As shareholders may be aware, the Board reviews the Company’s Investment Policy at every meeting. The Board has noted that approximately 38% of the portfolio is […]
Marwyn adds to Wilmcote stake – Wilmcote Holdings has today announced its intention to float on the AIM market of the London Stock Exchange, raising a further GBP15 million with backing from a number of institutional investors. Marwyn Value Investors II L.P., in which Marwyn Value Investors’ ordinary shares are indirectly invested, will invest GBP5.11 […]
SQN Secured Income fully committed – Following its appointment in April 2017, SQN has completed a thorough strategic review of the Company’s platform investments. At the time of SQN’s appointment, approximately 31% of the fund’s assets were in cash with the remainder already invested via platforms and through working capital loans to platforms. Following the […]
Empiric buys Hahnemann building in Liverpool – The Board of Empiric Student Property has announced that the Group has exchanged contracts to acquire the freehold of the Hahnemann Building (the “Property”) in Liverpool for GBP10.8 million (excluding costs). The acquisition is expected to complete in October 2017. The Hahnemann Building is a Grade II listed building […]
Dragon Capital has 60.6% of Dragon Ukrainian following bid – On 8 June 2017, in accordance with Rule 9 of the City Code on Takeovers and Mergers, Dragon Capital Investments announced its firm intention to make a mandatory cash offer for all of the Shares of Dragon Ukrainian Properties which the Dragon Capital Group did not […]
Ground Rents Income addresses negative media comment – Ground Rents Income Fund plc, a listed real estate investment trust (REIT) investing in UK ground rents, says that it has noted the recent attention in the media regarding ground rents and the launch by the Communities Secretary, Sajid Javid, of a consultation on proposals to amend […]
Greencoat UK Wind tops up stake in Clyde windfarm – Greencoat UK Wind PLC has entered into an agreement to make a further investment in Clyde Windfarm (Scotland) Limited, together with GLIL Corporate Holdings Limited, the infrastructure investment vehicle of certain local authority pension funds. As agreed at acquisition in March 2016, the Clyde Extension […]
Large cap underweight holds back Atlantis Japan – Atlantis Japan Growth has published its Annual Results for the year ended 30th April 2017. The year ended 30th April 2017 marked the first anniversary of the appointment of Taeko Setaishi as the lead fund adviser in succession to Ed Merner – although the team approach continues at […]
LXi REIT fully invested looks to gear up – The Board of LXi REIT has announced that the company has now fully deployed the net proceeds of its GBP138 million IPO since listing on 27 February 2017. They are also in solicitors’ hands on additional acquisitions which will fully absorb the GBP55 million debt finance to […]
Land Securities pre-lets 21 Moorfields to Deutsche Bank – Land Securities and Deutsche Bank have exchanged a pre-let agreement for the bank’s new London headquarters at 21 Moorfields, EC2 on a 25 year lease. The agreement is conditional on planning permission. Landsec has worked closely with Deutsche Bank on the design of a 564,000 sq […]
Supermarket Income REIT buys a TESCO Extra – Supermarket Income REIT has acquired a Tesco Superstore in Thetford, Norfolk, from M&G Real Estate for GBP43.2 million, reflecting a net initial yield of 5.35% or 5.55% after the next agreed RPI-linked rent review in December 2017. The purchase has been funded out of the equity proceeds […]
Polar Capital Global Financials gets subscription shares exercised – it has announced that it has applied for the listing of 24,952,723 new ordinary shares of 5p each. It is expected that admission to trading will take place on 2 August 2017. Applications have been made following the exercise of the rights represented by 24,952,723 subscription shares to subscribe in […]
Invesco Perpetual Select Trust has published its accounts for the year ended 31 May 2017. The UK equity portfolio returned 22% (22.5% in share price terms), underperforming the All-Share index which returned 24.5%. The Global equity income portfolio returned 29.2% (31.1% in share price terms), underperforming the MSCI World Index which returned 31.3%. The balanced risk […]
Aberdeen Emerging new dividend policy new fee – these measures are being implemented by the Board in recognition of current trends within the sector and to enhance and broaden the appeal of the Company to investors. Background The Board is pleased with the progress made by the Company in recent years with regard to revised management […]
ICG Enterprise sells Standard Brands – announces the sale of its investment in Standard Brands (UK) Limited, a manufacturer of domestic fire lighting products including Zip, the leading brand in the UK and Ireland. Standard Brands was the Company’s fifth largest underlying investment at 30 April 2017. The sale to SHS Group is subject to […]
Marwyn investment Zegona sells Telecable – Directors of Marwyn Value Investors Limited welcome the announcement made yesterday by its investee company, Zegona Communications plc (“Zegona”) confirming the completion of the sale of Zegona’s Spanish cable business, Telecable to Euskaltel, S.A. The transaction has generated significant upfront cash proceeds and Zegona intends promptly to return up to […]
Oakley Capital Investments Inspired wins backing from TA Associates – Inspired, a leading group of premium schools in Europe, Africa, Latin America and Australia and a portfolio company of Oakley Funds, has received a significant strategic growth investment from TA Associates, a leading global growth private equity firm, comprising both primary and secondary investment. OCL […]
Custodian REIT buys Salisbury health and fitness centre – the company has acquired a 24,230 sq ft health and fitness centre in Salisbury, located less than two miles from the city centre and prominently fronting on to the A30, the main arterial road into the city from the North. Adjacent businesses include Premier Inn, Handelsbanken, […]
Better year for Growth pool in F&C Managed Portfolio – F&C Managed Portfolio has published results for the year ended 31 May 2017. The NAV total return (i.e. adding dividends paid to capital performance) was 24.5% for the Income shares and 26.4% for the Growth shares. This compares with the 24.5% total return for the All-Share […]
Wolf Minerals has seen significant improvements to its tungsten/tin processing operations at the Drakelands mine during the first trial period of an operating turnaround plan during the month of June 2017. Average daily ore throughput in the final week of June reached almost 10kt, a 43% increase on the previous week. Wolf developed the plan […]
Land Securities has announced that it has exchanged contracts to sell its 50% stake of 20 Fenchurch Street, EC3M (the walkie talkie building) for £641.3 million and proposes to return £475 million to shareholders. The purchaser is LKK Health Products Group who will also acquire Canary Wharf Group’s 50% stake in the building, bringing the […]
