Artemis Alpha sells Metapack – Artemis Alpha Trust has drawn investors’ attention to an announcement from Stamps.com which has entered into a definitive agreement to acquire the total shares outstanding of Metapack Ltd., an unlisted equity representing 3.1% of the NAV, for cash. The agreed sale price represents a 24.8% uplift to current carrying value. Total proceeds […]
Two new vessels for Tufton Oceanic Assets – Tufton Oceanic Assets (SHIP) has announce that it has agreed to acquire a 75% interest in a LPG carrier for $21.75 million and a 100% interest in a Handysize Bulk Carrier for $10 million. LPG carrier – bareboat charter of seven years. The LPG carrier will have a bareboat […]
Autolus jumps to top position in Woodford Patient Capital Trust Woodford Patient Capital Trust (WPCT)’s stake in Autolus, the UK second generation CAR-T therapy company, rose by six places to top position in the portfolio in June, according to WPCT’s latest factsheet. The rise reflects Autolus’ recent IPO, which was priced at a valuation considerably above […]
Hammerson begins a £300m buyback programme – In its interim results report published today, listed property REIT Hammerson (HMSO) has announced that it has begun a share buyback programme for £300 million. The company confirmed that the programme had begun in a separate announcement released shortly after the interim statement was published. The buyback programme is part of […]
FastForward into Factom and Intensity Therapeutics – FastForward Innovations has advanced US$6 million to Factom, which will be converted into equity at a future date at a 25 percent discount to the price of Factom’s proposed Series B fundraising (terms yet to be announced). In addition, the xompany has the right to invest up to an additional US$9 million, […]
VinaLand sells its last two investments – VinaLand Limited will sell its stakes in both the 196HVT project and the SGPY project. The 196HVT site, which is approved for a future hospitality development, is in Ho Chi Minh City and The SGPY project is a small operating hotel located in Phu Yen. Both projects were acquired by VNL in 2008. VNL will divest […]
Templeton Emerging adds another manager to team – Templeton Emerging Markets Investment Trust has announced that Andrew Ness will be named as a portfolio manager of TEMIT with effect from 17 September, 2018. He will work closely alongside TEMIT’s lead portfolio manager Chetan Sehgal, who continues to serve as director of portfolio management for Global Emerging Markets […]
Hammerson sells Imperial and Fife Central Retail Parks – Hammerson plc has exchanged contracts for the sale of two retail parks, Imperial Retail Park, Bristol and Fife Central Retail Park, Kirkcaldy, for a total consideration of GBP164m to Capreon. This transaction brings Hammerson’s total proceeds from disposals in 2018 to GBP300m. Imperial Retail Park, acquired in 2012 […]
Artemis Alpha writes down URICA – Artemis Alpha Trust says that its NAV has been reduced by 2.2% as a result of an impairment taken to the value of its holding in URICA Ltd, a company operating in the supply chain finance industry. This represents the total amount originally invested in URICA at cost. The managers did not […]
FDA approves BB Biotech backed Agios’ AML drug Tibsovo Agios Pharmaceuticals (NASDAQ:AGIO), a top 10 holding for Switzerland’s BB Biotech (BBB), has received US FDA approval for Tibsovo for relapsed or refractory acute myeloid leukaemia (r/r AML) with a specific IDH1 mutation. Agios, which has seen its shares rise by ~50% this year, accounted for […]
MINI fails to keep up with AIM index – Miton UK Micro Cap has published results for the year ended 30 April 2018. Over the year, the NAV returned 8.4%. This compares with the AIM All-Share Index, which returned 10.7% (AIM stocks account for three quarters of the portfolio). This performance is somewhat higher than the returns on other […]
Investment Trust Insider on how to grow trusts James Carthew: imponderable questions in quest for scale Last week I addressed the uphill battle Ashoka India Equity (AIE) faces if it wants to expand, having raised just £46.5 million in its flotation. It is by no means the smallest fund out there, however. Many of the very smallest funds […]
Regional REIT plans bond issue – Regional REIT has launched an offer of 4.5% sterling bonds due 6 August 2024. The Bonds will pay a fixed rate of interest of 4.5% per annum. Interest will be payable semi-annually in arrears in equal instalments. The Bonds have a minimum initial subscription amount of GBP2,000 and are available in […]
Supermarket Income REIT buys Sheffield Morrisons store – Supermarket Income REIT has acquired a Morrisons’ supermarket in Sheffield from Opus North for GBP51.7 million (excluding acquisition costs), reflecting a net initial yield of 4.9%. The supermarket is located on an 8.4-acre site in the historic and prominent Hillsborough Barracks. It comprises a 113,000 sq ft Morrisons’ […]
NB Private Equity sets new dividend target – NB Private Equity Partners Limited has just declared its second semi-annual dividend for 2018. The payment of $0.28 per share is a $0.03 increase from the company’s prior dividend and, on an annualised basis, this dividend payment represents a dividend yield of 4.1%. Going forward, NBPE has announced a target yield of 3.0% […]
FDA accepts HBM investee Immunomedics’ breast cancer drug filing US biotech Immunomedics (Nasdaq:IMMU), a top 10 holding for Swiss-listed HBM Healthcare (2.5% of NAV), has reported that the US FDA has accepted its regulatory application for the antibody-drug conjugate sacituzumab govitecan and granted priority review with an action date of 18 January 2019. The application […]
Trust favourite Biogen preps for detailed Alzheimer’s trial results Trust favourite Biogen (Nasdaq: BIIB), the largest single holding for Biotech Growth Trust (BIOG, 11.7% of NAV) and widely held stock among other sector specialist collective vehicles – will with its joint venture partner Eisai shortly disclose detailed results from a Phase II study of the […]
Polar Capital Healthcare rejigs portfolio Polar Capital Global Healthcare Trust (PCGH) has disclosed a significant portfolio rejig in its end June monthly update, noting that it had sold a number of positions and increased its cash holdings partly on concerns about increased volatility in the equity markets and the potential for a market correction over the summer. […]
HBM-backed Argenx gets Shire as partner Dutch antibody company Argenx (Euronext & Nasdaq:ARGX), a top ten holding for Swiss-listed HBM Healthcare (HBMN, 2.9% of NAV), has gained a new licensing partner with the exercise by Shire Pharmaceuticals of an option held under a 2012 discovery alliance. The license covers a a preclinical stage antibody discovered and […]
Polar Capital Tech beats its benchmark again – Polar Capital Technology Trust has reported another year of outperformance. In the year to 30 April 2017, NAV rose by just over 56.0%, over the year to end April 2018, it rose by another 22.7%, taking NAV per share to 1,159.69p and the net assets of the company to £1,551.6m. The share price […]
Chelverton UK Dividend hit by Conviviality and Fairpoint – Chelverton UK Dividend Trust has published results for the year ended 30 April 2018. The net asset value as at 30 April 2018 was 249.61p (2017: 248.35p), an increase over the year of 0.51%. The shares benefited from a narrowing of the discount and, at the end of […]
BBGI buys stake in Canadian hospital – BBGI SICAV has acquired a 25% equity interest in the Stanton Territorial Hospital PPP Project. This project is one where BBBGI’s revenues will depend on whether the hospital is available for use rather than being linked to anything like the volume of patients using it. Stanton is a new 27,000 […]
Residential Secure Income buys flats in Luton – Residential Secure Income has announced the acquisition of four freehold residential buildings in Luton for a total consideration of GBP13.0 million. The buildings benefit from a 9.2 year lease to the local authority (with an option for the local authority to extend by 10 years) and are used to provide […]
Cash offer for John Laing Infrastructure – The board of John Laing Infrastructure and a consortium which comprises Dalmore Capital Limited and Equitix Investment Management Limited confirm they are engaged in discussions regarding a possible cash offer for John Laing Infrastructure, to be made by a new company to be jointly owned by funds managed or advised by […]
CIP Merchant Capital makes its second investment – CIP Merchant Capital has announced an investment in Orthofix International NV, a global medical device corporation focused on musculoskeletal healing products and value-added services traded on the Nasdaq Global Select Market. The company has bought, in aggregate, 85,000 common stock in Orthofix for a total consideration of approximately US$5 million. […]
Caledonia buys Cooke Optics – Caledonia Investments has acquired a majority stake in Cooke Optics Group, the UK manufacturer of premium-end cinematography lenses for the film, television and advertising industries, in a transaction which values the business at GBP96.5m. Founded as a lens manufacturer in 1886, Cooke has been at the centre of the film making business […]
Genmab commits to new bispecific cancer immunotherapy programme Danish biotech Genmab (Nasdaq Copenhagen: GEN) has paid $54m upfront and committed to pay up to $1.65bn in R&D, regulatory and commercial milestones to the private German biotech Immatics as part of a deal to discover and develop three next-generation bispecific cancer immunotherapies. Genmab, which is Europe’s […]
EC approves Ionis’ amyloidosis drug Ionis Pharmaceuticals (Nasdaq: IONS) has received marketing authorisation from the European Commission for Tegsedi (inotersen), its RNA-targeted therapeutic for stage 1 or 2 polyneuropathy in adults with hereditary transthyretin amyloidosis (hATTR). This is the first approval for the drug and unusually EU approval has come through ahead of the US, with the outcome of […]
No dramas for aircraft leasing funds – Doric Nimrod Air One through Three published their annual reports last night and Amedeo Air Four published its quarterly report. Doric Nimrod Air One is the simplest of the four funds. It purchased one asset, an Airbus A380-861, in December 2010 which it leased to Emirates. A $122m senior secured finance facility provided by […]
Primary Health Properties makes its fifth acquisition in Eire – Primary Health Properties (PHP) has contracted to fund and acquire a purpose built primary care centre in the Republic of Ireland. The company, which is doing this with its Irish investment vehicle Primary Health Properties ICAV, will provide development funding for the construction of the centre in Bray, County Wicklow, for […]
