Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).
Oakley Capital has published results for the year ended 31 December 2014 that show the net asset value has barely moved – up from 200p to 201p. Oakley Capital invests through two limited partnerships – Oakley Capital Private Equity and Oakley Capital Private Equity II. The first fund is now fully invested and is returning capital to […]
Middlefield Canadian’s results for 2014 reflect the effect of falling oil prices and subdued commodity prices on the Canadian economy – showing a share price return of 2.5% and a net asset value based return of 0.2% (2.8% on a currency adjusted basis), compared to returns of 2.4% and 1.2% for the Fund’s benchmark and […]
Threadneedle UK Select Trust has published its results for the year ended 31 December 2014. The fund managed to beat the FTSE All-Share Index over the year – generating a return on net assets of 3.5% vs. 1.2% for the benchmark. The dividend was upped from 4.25p to 4.35p. However the discount widened as the […]
Ashmore Global’s accounts for the year ended 31 December 2014 show that the fund has now distributed around 50% of the end 2012 NAV to shareholders – in line with projections the Board made when the company adopted its realisation strategy. The Board now says that around half the remaining NAV will be realised and available […]
UK Commercial Property has announced results for 2014 that show the net asset value rose by 13.5% over the year to hit 83p. Adding in the income as well, the total return on net assets was 19.7% and, as the premium rose slightly, the return to shareholders was 20.4%. The total return on the property […]
International Public Partnerships is buying an extra 40% of the Lewisham Building Schools for the Future project for £14.3m. The Lewisham project comprises four BSF schools located in the South East London borough, including Sedgehill (pictured) and Conisborough Schools; Trinity School; Deptford Green School; and, Bonus Pastor, Pendergast and Drum Beat Schools. They are paying […]
Invista European has announced the sale of its largest asset – Campus Heusenstamm, a collection of offices in Frankfurt, Germany. The sale price is €32m which is 22% less than the valuation of the office in its last published net asset value. €1.9m of the proceeds are being kept back to cover possible taxes and […]
PME Africa is selling its train business to Principle Capital Investments (which some people might remember as it used to have a listed fund). PME Africa is selling 100% of the equity of PME’s wholly owned subsidiary, PME RSACO (Mauritius) Limited, the Group entity which holds the Group’s 50% interest in Sheltam Holdings (Pty) Ltd, […]
Global Fixed Income Realisation’s net asset value fell by 17.3% over the course of 2014. A large part of that related to realised losses on the sale of the fund’s Ukrainian investments. 2% was lost to a fall in the value of Autonomy IID, a Brazilian real estate fund, which suffered in a weak Brazilian […]
Weiss Korea Opportunity results for 2014 have been published. The NAV per Share increased from 108.5p to 120.4p (11.0%) over the year. They compare their performance to the MSCI Korea 25/50 Capped Index, this fell by 5.2% so the fund did very well in 2014. They also paid a dividend of 1.4413p in the year […]
Duet Real Estate Finance results for 2014 are out. The total net asset value return for the year was 5.7% and the shareholder return was 9%. They paid 6.2p in dividends during the year and declared 5.2p worth of dividends for the 2014 accounting year as a whole (part of the 6.2p related to 2013 and […]
Dexion Absolute has published its 2014 accounts. The share prices of the various share classes did much better than the net asset values – the Sterling shares were up 11.8% and 2.8% in share price and NAV terms, Euro shares 10.5% and 2.7% and US dollar shares 16% and 2.8%. 97.1% of the portfolio is […]
Invesco Perpetual UK Smaller’s results for the year ended 31 January 2015 show the fund generating a net asset value return of 2.2%. The Numis Smaller Companies Index (excluding Investment Companies), fell by 2.6%. The share price rose from 316.8p to 328.3p per share, an increase of 3.6%, and the discount narrowed from 13.9% to 11.3%. […]
Henderson International Income’s net asset value returned 9.6% over the six months to the end of February 2015 while the MSCI World (ex UK) Index returned 10.7%. The company’s share price did much better however, returning 18.7%. They have declared two dividends of 1.1p each for the period and say they aim to maintain the same level […]
International Oil & Gas is in the process of trying to sell Strata Energy Services. in an announcement today, the company says the sales process is ongoing but firm indications of pricing are unlikely to be available by 30 April (the deadline for the publication of International Oil & Gas’s accounts for the year ended […]
NB Global Floating Rate Income’s accounts for 2014, published today, show a fall in its net asset value – from 100.18p to 97.7p for the Sterling shares (which make up the bulk of the fund although US dollar assets dominate the porttfolio) and from $1.0102 to $0.9862 for the US dollar shares. The total NAV […]
Taliesin Property Fund’s net asset value rose by 19.4% in 2014 (18.2% on an EPRA basis). The property portfolio was valued at an average of €1,760 per square metre at the end of the year, up 15% on the valuation at the end of 2013. The shares have been trading at a premium to asset […]
Over the year to the end of December 2015 Baker Steel Resources net asset value fell by 27.6% – somewhat more than comparative indices such as the Euromoney Global Mining 100 Index which fell by 15.4% and the FTSE Gold Mines Index which fell by 9.8% over the same period. The statement says that some of […]
Over 2014 Pacific Alliance Asia Opportunity’s net asset value rose by 9% to $1,729 per share. The share price did much better however, increasing by 21.8% to $1.59. The underlying master fund in which the company invests generated a return of 9.5% for the year. The portfolio is invested in a number of strategies – […]
Third Point Investors has announced results for the year ended 31 December 2014. Over the year the NAV total return was 6.5% for the US dollar share class and 6.8% for the Sterling share class (all of the Euro class was merged in with the dollar class during the year). Most of that return was […]
BlueCrest All Blue generated a 6.9% return on net assets over the course of 2014 to make a 100% return since the launch of the fund in 2006. They added one new fund to the mix during the year, BlueCrest Equity Strategies Fund, which the directors say is managed close to market neutral and appears […]
Ted Pulling, manager of JPMorgan Asia for the last three years, is moving back to the US from Hong Kong and relinquishing responsibility for the management of the fund. The Board says, to ensure an orderly transition of his responsibilities, Mr Pulling will remain in Hong Kong until the end of 2015, continuing to manage […]
HICL is paying £16.2m to acquire additional 40% interests in both phase 1 and phase 2 of the Salford & Wigan BSF (Building Schools for the Future) projects. This takes HICL’s stake in both projects up to 80%. S&W Phase 1 and S&W Phase 2 are 26-year and 27-year PFI concessions, respectively, to design, build, […]
Blue Capital Global Reinsurance has announced results for 2014. The NAV total return for the year was 8.8%. The dividend for the year was 6.5 US cents. They raised $15.3m of additional capital during the period. Losses for the period were, they say, relatively small – amounting to about 1.6% off the return for the […]
International Biotechnology’s results for the six months ended 28 February 2015 are out and they show that the fund had a fantastic time with the net asset value rising by 44.5%. The share price was up 57.4% over this period as they bought back 23% of the company to cut the discount from 21.5% to […]
Merchants Trust has published results for the year ended 31 January 2015. Over that period the fund delivered a return on net assets of 4.7% which is about 2% behind the return generated by the FTSE100 Index over the same period. They say that most of this underperformance relates to changes in the market value […]
Qatar Investment Fund has a discontinuation vote scheduled this year. The Board is thinking about conducting a tender offer at a 1% discount to net asset value (less associated expenses) for 10% to 15% of the fund. They are working this out on a sliding scale whereby if the fund trades at an average discount […]
NextEnergy Solar is spending up to £54.7m to acquire two plants with a total generating capacity of 45.4MWp. The deals are a share purchase agreement to acquire the operational 33.7MWp Glebe Farm solar power plant in Bedfordshire for up to £40.5m and a share purchase agreement signed to acquire the operational 11.7MWp Hawkers Farm solar […]
Witan Investment Trust has today agreed to issue a £21m fixed rate 20 year secured private placement note at a coupon of 3.29% and a £54m fixed rate 30 year secured private placement note at a coupon of 3.47%. They say the purpose of this transaction is to obtain fixed rate long dated Sterling denominated […]
JPMorgan Senior Secured Loan has received £1.686m in compensation from JPMorgan after an error led to losses of that amount on the company’s currency hedging. This pushes the NAV back up to 97.58p (including accrued income) and the shares trade at a 5.3% discount to this. JPSL : Manager compensates JPMorgan Senior Secured after hedging […]
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