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Investment Companies News

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).

29 Jun 2015

Invesco Asia buoyed by IT and materials holdings

The year to the end of April 2015 was a good one for Invesco Asia as the fund generated a return on net assets of 28.3% and a return to shareholders of 29.4%, both well ahead of the 22.7% return on the company’s outgoing benchmark – MSCI All Countries Asia Pacific ex Japan Index (to […]

Sectors
Companies
26 Jun 2015

Aberdeen New Dawn tries to steer away from Chinese bubble

Over the 12 months to the end of April 2015 Aberdeen New Dawn generated a total return on net assets of 17.1% and a return to shareholders of 14.3%. Unfortunately the company’s benchmark did much better – the MSCI All Countries Asia Pacific ex Japan Index returned 22.7%. The dividend was increased to 3.8p from […]

Sectors
26 Jun 2015

Small Companies Dividend hoping for M&A uptick

Smaller Companies Dividend Trust has reported its annual figures covering the year to the end of April 2015. Over this period the total return on the portfolio was 6.9%, adjusting for the effects of the zero dividend preference shares, this made the return in the net asset value of the ordinary shares 7.2%. The ordinary […]

Sectors
Companies
26 Jun 2015

Advance Developing held back by China underweight

Advance Developing Markets has released its interim results covering the six months to the end of April 2015. Over that period the total return on net assets was 6.9% and the return to shareholders 6.6% while the return on the MSCI Emerging Markets Index was 8.3%. The manager’s report says that being underweight China at […]

Sectors
26 Jun 2015

MedicX makes first Irish investment

MedicX has announced that it is making its first foray into the Irish market with a €10.1m deal to fund a new primary healthcare medical centre in Mullingar, Westmeath. The property is due to be completed in August 2016. The completed development will be let to a number of GPs and the Health Service Executive […]

25 Jun 2015

Worldwide Healthcare celebrates 20th birthday

Worldwide Healthcare’s results for the year ended 31 March 2015 reflect the strength of the healthcare market over that period but also considerable outperformance by the manager. The NAV return for the year was 53% – more than 17% ahead of the 35.9% return on their benchmark (the MSCI World Health Care Index). The return […]

25 Jun 2015

Utilico Emerging doubles its money on MyEG

Utilico Emerging Markets has announced results for the year that ended on 31 March 2015. Over this period he fund produced a total return on net assets of 12.2%. This is marginally less than the 13.2% return generated on the MSCI Emerging Markets Index. The dividend was maintained at 6.1p. The manager’s report analyses the […]

Sectors
24 Jun 2015

Montanaro UK Smaller sees second half improvement

Montanaro UK Smaller Companies underperformed a little against the Numis Smaller Companied ex Investment Companies Index over the year to the end of March 2015 as its NAV total return was -2.7% whilst the benchmark’s was -0.3%. The return to shareholders was -6.9% however as the discount widened from 12.9% to 16.5%. The final dividend was increased […]

Sectors
24 Jun 2015

BlackRock Income reports long list of outperforming investments

Over the six months to the end of April 2015, BlackRock Income & Growth delivered a total return on net assets of 13.1% and a return to shareholders of 14.6%, both well ahead of the 9.2% return posted by the FTSE All-Share Index for the period. The shares moved to trade at a discount of […]

Sectors
Companies
24 Jun 2015

Custodian REIT buys land for pre-let development

Custodian REIT is spending £4.2m to buy a 3.5 acre plot and fund the development of a warehouse unit at Kingswood Lakeside, Cannock, adjacent to the A5 and Junction T7 of the M6 Toll, and three miles from the M6. The development comprises a 63,000 sq ft warehouse unit, with construction being phased over an […]

24 Jun 2015

Hansa hurt by Brazilian exposure

Over the year to the end of March 2015, Hansa Trust’s net asset value fell by 4.9% and the A share price fell by 5.7%, leaving them trading on a 27.3% discount. The dividend was maintained at 16p. By contrast, the MSCI World Index rose by 16.8% in Sterling terms over that period. Hansa though reports only on […]

Sectors
23 Jun 2015

Another great performance from Henderson Opportunities

Henderson Opportunities has published interim results for the six months ended 30 April 2015. Over that period the FTSE All-Share Index returned 9.2% but the fund’s net asset value returned almost double that, 17.6%. Unfortunately for shareholders though, the discount widened from 3% to 12.1% and so the return to shareholders was just 7.5% – […]

Sectors
Companies
22 Jun 2015

Caledonia buys 7 investment management

Caledonia is buying a majority stake in 7 investment management in a deal that values the business at £100m. 7IM was established in 2002 by its co-founders, Chief Executive Officer, Tom Sheridan, and Head of Corporate Development, Justin Urquhart Stewart, along with their Chief Finance Officer, Charles Sparrow, and has grown from its seven founder […]

Sectors
22 Jun 2015

Henderson Diversified Income benefits from deflationary backdrop

Over the six months ended 30 April 2015, Henderson Diversified Income outperformed its benchmark, generating a total return on net assets of 5.2% as compared to 1.3% for the benchmark (three month sterling Libor plus 2.00%). The share price return was 5.9%. They have declared dividends totalling 2.5p for the period. The manager says sovereign […]

Sectors
22 Jun 2015

Nimrod Sea Assets amends dividend, investment in administration

Nimrod Sea Assets has updated its dividend policy. it plans to pay quarterly dividends of 2 cents per share between now and March 2016. The review was triggered in part by the following news. One of its investments, mv red 7 Alliance has been given notice that Red7Marine Offshore Limited (the charterer of the vessel) had […]

22 Jun 2015

Custodian REIT buys property portfolio

Custodian REIT has announced the acquisition of a portfolio of 10 properties. Six are high street shops, spread around the UK, with an average lot size of £1.21m. Four are industrial units with an average lot size of £1.83m. They say locations include Chester, St Albans, Bristol, Farnborough and Kettering and tenants within the portfolio include BSS […]

22 Jun 2015

Empiric Student Property buys in Liverpool and Stoke

Empiric Student Property has acquired the freeholds of a portfolio of seven operational, direct-let, premium student accommodation properties in Liverpool and Stoke-on-Trent, comprising a total of 502 beds, for over £40m. They are paying cash of £22.8m (excluding acquisition costs) and taking on responsibility for the existing debt on the properties of £18.8m which has been retained […]

Sectors
22 Jun 2015

Fair Oaks new investment with 14%-16% return

Fair Oaks Income Fund is buying, in the primary market, $26.4m notional of equity notes, representing 75% of the total equity of Neuberger Berman CLO XIX, a new CLO backed by a portfolio of US broadly syndicated, secured loans. The manager of this CLO’s portfolio is Neuberger Berman Fixed Income LLC, a subsidiary of Neuberger […]

19 Jun 2015

Shareholder revolt at Ukraine Opportunities

At its AGM on 18 June, shareholders voted against the approval of Ukraine Opportunities’ accounts, the Directors’ Remuneration Report, the re-election of Beatrice Hollond, the re-election of Dmitry Chernobay, the permission to repurchase shares, the permission to allot new shares, the disapplication of pre-emption rights and a change to the Articles to allow meetings to be called […]

Sectors
19 Jun 2015

NewRiver Retail to expand and move to main market

NewRiver Retail is planning to raise £150m, buy out the minority interests in two unit trusts and move to the main market. Of the £150m, £29m would be used to fund the acquisition of a 50% stake in the Trent JPUT (the Marston’s portfolio) at an implied net initial yield of 10.1%; £23m is for […]

19 Jun 2015

Adamas Finance reports delays on portfolio restructuring

Adamas Finance Asia has just published results for the year ended 31 December 2014. The results statement makes no mention of its net asset value per share but total net assets were $118.9m. There is no dividend. They made a loss of 0.34 cents per share. The fund was a Chinese private equity fund and […]

19 Jun 2015

Renewables Infrastructure in talks to buy 433MW

The Renewables Infrastructure Group has announced that it is in talks to acquire stakes in six operational wind farms with the capacity to produce 433MW. The seller is Fred Olsen Renewables. The deal is to acquire a significant minority interest in a portfolio of six operational onshore wind projects in Scotland. If the deal gets […]

19 Jun 2015

Alpha Real Trust reports NAV improvement

Over the year to the end of March 2015, Alpha Real Trust saw its net asset value rise from 107p to 113.2p. Earnings per share rose 40% rom 5.3p to 7.5p. The quarterly dividend payment has now been set at 0.6p per share. Total dividends for the year were 2.175p. Asset values rose within the […]

Sectors
18 Jun 2015

Bankers reaps rewards of Chinese investment

Bankers Investment Trust has announced decent figures for the six months ended 30 April 2015 with the fund generating a return on net assets of 13.3% and a return to shareholders of 13.9% as compared to a 9.2% return on the FTSE All-Share Index. The Chairman’s statement points out that this was a good period for returns […]

Geographies
  • North America
  • UK
  • Asia
  • Europe (EU and EEA ex UK)
Sectors
18 Jun 2015

Big dividend leap for F&C Global Smallers

Over the year to the end of April 2015, F&C Global Smaller Companies generated a 16.2% return on net assets and a 17.6% return to shareholders. Their benchmark (MSCI All Country World ex UK Small Cap Index and Numis UK Smaller Companies (excluding investment companies) Index in a 70%/30% proportion) returned 14.8%. The full year […]

Sectors
18 Jun 2015

Real Estate Investors buys six properties

Real Estate Investors is buying six properties using the proceeds of its recent fund raising. they are spending £24.95m on: 40 St Paul’s Square, Birmingham: a prime office investment in the Jewellery Quarter of Central Birmingham, producing rent of £399,824 p.a. Tenants include Willis Group, ISG Regions, BHP Design, OLR (UK) Limited and Coltham Developments. Bearwood […]

18 Jun 2015

NextEnergy Solar adds two plants

NextEnergy Solar is spending £22m to acquire two additional solar plants. £11.1m will buy a 9.3MWp solar plant at Bowerhouse in Somerset and £10.9m will buy an 8.5MWp plant at Wellingborough in Northamptonshire. Bowerhouse was connected to the grid on 27 March 2015 and is to be accredited under the 1.4 Renewable Obligation Certificate (“ROC”) […]

18 Jun 2015

Uncertain future for Kuala

Kuala Limited has announced results for the year ended 31 March 2015. This period includes its conversion from being a fund focused on investments in China to being a fund focused on investments in the natural resources and energy sector, particularly in Africa. The company’s last Chinese investment (Wan Wei) has been struck off and is […]

17 Jun 2015

A good year for Invesco Income Growth

Invesco Income Growth’s results for the year to the end of March 2015 show the fund outperforming the FTSE All-Share Index by 3.7%, returning 10.3% to the index’s 6.6%. The return to shareholders was 9.9%. The total dividend for the year was 10.1p, up 2.5% on the 9.85p paid for the year ended 31 March 2014. […]

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