Dollar and exits power 17.5% return for Aberdeen Private Equity – Aberdeen Private Equity says that for the financial year ended 31 March 2017, its NAV rose by 14.2% to 152.24p. Inclusive of the two dividends, 2.2p and 2.0p (total 4.2 pence) paid respectively in September 2016 and March 2017, shareholders received a sterling NAV […]
3i Infrastructure considering sale of Anglian Water. The Board of 3i Infrastructure plc says it notes the press speculation regarding a potential sale of its interest in Anglian Water Group. The company confirms that it is considering options in relation to its holding in Anglian Water which is held through 3i Osprey LP, a partnership […]
Summit Germany spends €100m in Wolfsburg. Summit Germany Limited, the AIM-listed German commercial property investment company, has announced that it has entered into an unconditional agreement with Dazzle Capital Holdings Ltd., for the acquisition of a portfolio of commercial properties at a total purchase price of approximately €100 million including acquisition costs, located in 4 different […]
LondonMetric Property sells last Marlow office. LondonMetric Property has announced that it has exchanged on the sale of its last remaining office asset in Marlow to Kildare Partners for GBP68.5 million. The 231,000 sq ft office property is 96.7% let off a WAULT of 7.0 years to Allergan, Dun & Bradstreet, Lexington Catering, Icon Clinical and […]
UK Mortgages takes steps to tackle falling NAV as capital distributions eat into fund. UK Mortgages has made an update presentation to investors. In it, it acknowledges that it has taken longer to invest the proceeds of its IPO than expected. The longer investment period has meant: Slower earnings growth A longer period of uncovered […]
Great year for Monks as seven holdings more than double. Over the year to 30 April 2017, Monks’ net asset value total return was 40.0% compared to a total return of 31.0% for the World Index (in sterling terms). The share price total return for the same period was 53.9%, with the discount narrowing to 0.6%. The one […]
JPMorgan American slashes fees. The Board of JPMorgan American Investment Trust has announced that, following a review, the investment management fee arrangements with JPMorgan Funds Limited will change. With effect from 1st October 2017, the annual investment management fee, currently 50bps of total assets less current liabilities, with no tiering, will be charged at an annual […]
Ranger Direct Lending updates on Princeton saying it has initiated arbitration proceedings. Princeton is incorporated in the British Virgin Islands and invests in a Delaware master fund (the “Princeton Master Fund”) which is a party to the underlying lines of credit. Ranger Alternative Management II, LP (the “Investment Manager”), the Ranger Specialty Income Fund, LP […]
Sale of Land at International Healthcare Park Aseana Properties has announced that its 72.35% owned subsidiary, Hoa Lam-Shangri-la Healthcare (HLSL), has completed the sale of a plot of 1.23 hectares of land at International Healthcare Park (IHP), in Ho Chi Minh City, Vietnam. The sale, to Tien Phat Consultancy, has been achieved through the sale of […]
Blackstone / GSO Loan Financing (BGLF) has announced that it intends to apply to the UK Listing Authority (UKLA) for admission of the Company’s shares to a premium listing on the Official List and to the LSE for trading of the Company’s shares on the Premium Segment of the Main Market of the LSE. At […]
Picton Property Income (Picton) has announced that it has extended one of its revolving credit facilities (RCF) with Santander Corporate and Commercial Banking. Picton has two revolving credit facilities, one of which expires in 2018 and the other in 2021. The 2018 facility has now been extended and will expire at the same time as […]
NextEnergy Solar Fund (NESF) has announced the results of its placing. It says that the level of confirmed demand was significantly in excess of the original targeted fundraising of £100m and that due to the substantial oversubscription, the Board, after consulting the Investment Manager, has elected to exercise its right to increase the size of […]
F&C Global Smaller just fails to match rising benchmark – it says that small cap stocks more than held their own against the larger companies, doing particularly well in the US, over the year ended 30 April 2017. The fund’s benchmark is a blended index of the returns from the MSCI All Country World ex UK […]
LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Kent, West Sussex and Gloucestershire. The purchase price for the Portfolio is £3.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). Lxi REIT […]
Great Portland buys an acre of Whitechapel – Great Portland Estates plc has acquired the freehold of land and buildings including Cityside and Challenger House, 40/42 Adler Street and 2/8 Whitechapel Road, London E1 from Hermes Investment Management, for GBP49.6 million (GBP320 per sq ft). The 1.1 acre site sits between Aldgate to the west and […]
Phaunos Timber Fund bites the dust – the Board of Phaunos Timber Fund Ltd has announced that at the Annual General Meeting held at 11.00 a.m. on 19 June 2017, all resolutions were duly passed on a poll with the exception of Resolution 7 (the Continuation Vote). As Resolution 7 has not been passed, it is the Board’s […]
From an economic standpoint recent news in the UK has been worrying. House prices are falling and so are retail sales. Inflation has exceeded the Bank of England’s target and so the monetary policy committee is edging closer to raising interest rates. We have a hung parliament and we are just about to embark on […]
Jardine and Samsung help Aberdeen New Dawn outperform. Aberdeen New Dawn says its net asset value (“NAV”) total return for the year was 39.0%, ahead of the total return of 36.4% from the MSCI All Countries Asia Pacific ex Japan Index. The share price total return was 38.8%, with the share price of 212.0p at the […]
BP Marsh buys New York based insurance distribution company, XPT. B.P. Marsh & Partners has invested $6,000,000 into a New York based specialty lines insurance distribution company. Following recent press speculation, the company is pleased to announce further details concerning this new venture. B.P. Marsh has subscribed for a 35% shareholding in the New York […]
BlackRock Greater Europe has announced that it has been informed that Vincent Devlin, co-portfolio manager of the Company, will be stepping down as portfolio manager. Stefan Gries, a senior Director within the BlackRock’s European Active Equity team has been appointed co-portfolio manager alongside Sam Vecht, who retains principal responsibility for the Company’s emerging European portfolio. […]
Supermarket Income REIT has announced its intention to launch an initial public offering of its shares on the specialist fund segment of the main market of the London Stock Exchange. Seeking to raise up £200m Supermarket Income REIT is seeking to raise up to £200 million by way of a placing and offer for subscription. […]
Hansteen Holdings has announced that it has completed the disposal of its German and Dutch portfolios for €1.28 billion. The sale, originally announced on 20 March 2017, is entities owned by funds advised by affiliates of The Blackstone Group L.P. and M7 Real Estate. Hansteen says that the transaction has resulted in net cash […]
HgCapital invests in business messaging service, Esendex – HgCapital, the Manager of HgCapital Trust, has today announced an investment in Esendex, a leading provider of mission-critical business messaging services across Europe. On completion of the transaction, Esendex will be merged with existing Mercury portfolio company Mobyt, which provides similar business messaging services in Italy and France. […]
Utilico Emerging lags rising global emerging index as shareholders trail MSCI return by 12.2%. Utilico Emerging has announced an NAV total return (adjusted for the exercise of subscription shares) of 26.2% for the full year to 31 March 2017. However, someone who just held the ordinary shares and no subscription shares would have made a […]
Custodian REIT (CREI) has announced that it has acquired the 23,007 square foot Wells Green Retail Park in Sheldon, five miles from Birmingham city centre on the busy A45 Coventry Road. The agreed purchase price of £5.1 million was funded from the Company’s existing cash resources, resulting in net gearing2 increasing to 19.6% loan to […]
John Laing Environmental extends credit facility for a further year – John Laing Environmental Assets, the listed environmental infrastructure fund, has signed a new three-year (with an uncommitted option to extend for a further year) facilities agreement which provides for a committed revolving credit facility of GBP130 million and an uncommitted accordion facility of up to […]
Workspace Group (Workspace) has announced that it has exchanged contracts for the disposal of the third and final phase of the mixed-use redevelopment of Bow Enterprise Park, E3. It says that the final phase of the redevelopment, comprising 130 residential units, has been sold for £6.3m in cash and the return of a new 40,000 […]
Polar Capital raises £59.4m for Healthcare Trust. Results of the Open Offer, Offer for Subscription and Initial Placing of New Ordinary Shares New ordinary shares will be issued under the initial placing at 213.8p, (this price is calculated as the prevailing Net Asset Value as at the close of business on 15 June 2017 plus the Placing […]
Eastern European Property Fund (EEP) reported a net loss for the year ended 31 December 2016 of £1.2 million (2015: loss of £1.0 million), which it says represents a loss per Ordinary Share of 7.80p (2015: loss of 6.30p). it says that a loss of £0.8 million on revaluation of investment properties, and a realised […]
LXi REIT has announced that it has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Yorkshire. The purchase price for the Portfolio is £3.8 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the Company). The company says that the properties […]
