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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).

21 Aug 2023
US Solar Fund

US Solar names potential new manager

The board of US Solar Fund (USF) has today announced its preferred candidate to replace New Energy Solar Manager, USF’s outgoing investment manager, proposing Amber Infrastructure Group as its successor. The selection of USF’s new manager will still require shareholder approval, with consultations expected to be announced shortly. Amber is a specialist international infrastructure investment […]

Sectors
21 Aug 2023
230124 morning

QuotedData’s morning briefing 21 August 2023

In QuotedData’s morning briefing 21 August 2023 The Renewables Infrastructure Group (TRIG) has announced that is has deposed of three of its onshore wind farms. The sites are located in Ireland and were sold at a combined consideration of c. €25m, a 26% premium to their last valuation which was made on 31 December 2022. […]

Companies
18 Aug 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news update 18th August 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Thomas Lloyd Energy Impact (0:57) • Riverstone Energy (18:40) • Bluefield Solar (22:25) • NextEnergy Solar (27:16) • Ediston Property (30:16) • Empiric Student […]

Sectors
Companies
18 Aug 2023
230818 EBOX Mango, Barcelona

QD view – time is right for this European logistics specialist

Real estate is certain to remain unloved until interest rates have peaked or start to move downwards. The latest inflation data indicates that that point may not be that far off, so now may be the opportune time to pick up a well-run property company on the cheap. The vast majority of the sector is […]

Sectors
18 Aug 2023
230601 morning 1

QuotedData’s morning briefing 18 August 2023 – IHR, GPE

In QuotedData’s morning briefing on 18 August 2023: Impact Healthcare REIT (IHR) has purchased a new £50m interest rate cap, which caps SONIA at 4.0% for two years expiring on 15 August 2025, at a cost of £1.76m. The group has now hedged or fixed the interest rates on 92% (£175m) of its current drawn […]

Sectors
17 Aug 2023
hg capital trust and teamsystem logos 230817 hgt teamsystem

Hg agrees partial sale of TeamSystem

Hg, the manager of HgCapital Trust has agreed to sell part of its investment in TeamSystem, a leading provider of business software solutions to businesses and accountants in Italy and Spain. As part of the transaction, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) and CapitalG, Alphabet’s independent growth fund, have entered […]

17 Aug 2023
riverstone energy logo 230817 rse

Riverstone Energy planning 30% tender

Riverstone Energy has built up a cash balance of $123m and plans to use about $100m (£80m) of that to fund a tender offer. The company will buy back up to 13,840,830 shares at 578p per share. That is the equivalent of 30.4% of the company’s issued share capital. The tender price is equal to […]

Sectors
17 Aug 2023
Two men wrestling, one has the other pinned to the floor

Board hits back again in ThomasLloyd Energy Impact dispute

Another day, another announcement in the dispute between board and manager of ThomasLloyd Energy Impact. Here is the board’s riposte to yesterday’s statement by the manager. The board of the company (the “board”) notes the announcement on 16 August 2023 by ThomasLloyd Group Limited (“TLG”) and its subsidiary ThomasLloyd Global Asset Management (Americas) LLC (the […]

17 Aug 2023
the sun shines through the blades of a wind farm onto solar panels which occupy the bottom of the picture 230817 bsif

Bluefield Solar posts positive NAV move

Bluefield Solar has announced its end June NAV and it has risen from 139.1p to 139.7p. There are a lot of moving parts that drove this: Bluefield Solar has increased its discount rate by 0.75% to 8.0% and this took 4.9p per share off the NAV. Even though power prices have fallen, the fund was […]

17 Aug 2023
LED light bulbs seemingly hanging from the sky

NextEnergy Solar NAV dips on higher discount rate

NextEnergy Solar has published its end June 2023 NAV. The NAV has slipped to 109.3p from 114.3p over the second quarter of 2023. The most significant factor in this was a decision to increase the discount rate used to value NESF’s future cash flows by 0.75%, to reflect higher interest rates. The company has also […]

17 Aug 2023
a green cup of something hot - tea or coffee? - sitting on an open bookon which is also resting what looks like a napkin 230406 morning

QuotedData’s morning briefing 17 August 2023 – ABD, AAIF, ESP, EPIC

In QuotedData’s morning briefing 17 August 2023: In its final set of annual results (before it is absorbed by Asia Dragon), abrdn New Dawn (ABD) returned -6.8% in NAV terms for the 12 months ended 30 April 2023, and -7.3% in share price terms, both lagging the -5.2% return generated by the benchmark MSCI AC […]

Companies
16 Aug 2023
Two men wrestling, one has the other pinned to the floor

Investment adviser hits back in ThomasLloyd Energy Impact dispute

The following rebuttal to yesterday’s announcement by the board of ThomasLloyd Energy Impact has been posted on the investment adviser’s website. The Investment Manager, together with ThomasLloyd Group Limited, refute the material inaccuracies and unsubstantiated allegations contained in the announcement made by the board of directors of ThomasLloyd Energy Impact Trust plc on 15 August […]

16 Aug 2023
a cup of coffee sits on a wooden board

QuotedData’s morning briefing 15 August 2023 – GOT, REL, AEET

Global Opportunities Trust (GOT) announced its half year report for the period ended 30 June 2023. The company’s NAV decreased by 0.2% while shares increased by 2.2% reflecting a slight narrowing of the discount to NAV which sat at 17% at the last close. During the period, the company also terminated its investment management agreement […]

Companies
15 Aug 2023
210528 VTA board

Whistleblowing policy reveals further information on ThomasLloyd Energy Impact

A further update has been made regarding ThomasLloyd Energy Impact Trust (TLEI), as new information has come to light under the protections of the company’s whistleblowing policy. The update appears to reveal that ThomasLloyd Global Asset Management (the Investment Manager) was aware of material information relating to the RUMS Project by August 2022. According to […]

15 Aug 2023
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 15 August 2023 – SCP, WTAN, APEO

Schroder UK Mid Cap (SCP) announced the appointment of Harry Morley as an independent non-executive director of the company, effective from 1 September 2023. Mr Morley has also been appointed a member of the Audit and Risk, Management Engagement, Nomination, and Remuneration Committees. Witan Investment Trust (WTAN) released its half year results for the period […]

Companies
14 Aug 2023
Tritax EuroBox Bochum asset

Tritax EuroBox secures two new lettings

Tritax EuroBox has signed two new leases across its continental European logistics portfolio, adding €1.3m of rental income. The first is the 14,150 sqm letting of Unit 1 of the speculatively developed Settimo asset in Italy to a “leading Italian logistics specialist”. The letting comes just three weeks after practical completion of the 28,300 sqm […]

Sectors
14 Aug 2023
ThomasLloyd Energy Impact logo 230606 TLEI

Lines are drawn at ThomasLloyd

ThomasLloyd Energy Impact (TLEI) has confirmed that it received a notice from certain entities and funds which hold shares in TLEI and are affiliated with ThomasLloyd Global Asset Management to requisition a general meeting within an agreed timetable. This is in addition to the general meeting announcement made on 12 July. In practice this may […]

Sectors
14 Aug 2023

QuotedData’s morning briefing 14 August 2023

In QuotedData’s morning briefing 14 August 2023 SEED Innovations has announced that it has made a further £216,000 investment into Clean Food Group, which offers sustainable oils and fats solutions. This investment is part of a £2.3m fundraise by Clean Food Group to accelerate its growth. This funding round will value Clean Food Group at […]

11 Aug 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 11th August 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • GCP Infrastructure / GCP Asset Backed Income / RM Infrastructure (0:40) • Nippon Active Value / Atlantis Japan Growth (13:56) • HydrogenOne Capital Growth […]

Sectors
Companies
11 Aug 2023

QD view – Diversity rules for The Renewables Infrastructure Group

As we have noted on several occasions over the past few months, despite poor share price returns, the underlying fundamentals of the renewable energy sector remain strong, particularly for those companies benefitting from inflation-linked subsidies and exposure to wholesale power prices. In many cases, these tailwinds have more than offset the adverse impact of rising […]

11 Aug 2023
QD view – Renewables – an inevitable part of our future?

QD view – Renewables – an inevitable part of our future?

For some time, the trajectory of renewable energy infrastructure trusts appeared inexorable: the march to decarbonisation was inevitable, government backing a given and the regulatory environment supportive. However, in spite of some significant financial backing for renewable energy development, global governments appear to be wavering on their commitment to net zero, and the public backlash […]

Companies
11 Aug 2023
Two men wrestling, one has the other pinned to the floor

ThomasLloyd Group refutes TLEI board allegations

ThomasLloyd Group Limited (TLG), the manager of ThomasLloyd Energy Impact Trust (TLEI) has issued a statement refuting a number of allegations made by TLEI’s board in regards to TLG’s recommendation that shareholders vote for continuation in the upcoming vote. In contrast, TLEI’s board is suggesting shareholders vote against continuation. TLG, through its affiliates, is the […]

11 Aug 2023
Atlantis Japan Growth Nippon Active Value Merger

Atlantis Japan Growth to merge with Nippon Active Value

Atlantis Japan Growth (AJG) and Nippon Active Value (NAVF) have both announced this morning that their boards have agreed heads of terms for a proposed merger of the two trusts with AJG rolling over into NAVF. Similarly to the abrdn Japan (AJIT) scheme, which is already underway, the transaction would result in a larger company […]

11 Aug 2023
GCP Infrasutcture GABI Merger

GCP Infrastructure and GCP Asset Backed Income to merge

The boards of both GCP Infrastructure Investments (GCP Infrastructure) and GCP Asset Backed Income (GABI) have agreed terms for a merger of the two funds. Under the proposals, the merger will take effect via a solvent winding-up of GABI and the transfer of its assets to GCP Infrastructure in exchange for the issue of new […]

Sectors
11 Aug 2023
230601 morning 1

QuotedData’s morning briefing 11 August 2023 – RMII, LBOW, MYI

In QuotedData’s morning briefing 11 August 2023: Confirmation from RM Infrastructure Income (RMII) that its board has received a proposal from GCP Infrastructure Investments, as referred to in its announcement on 10 July 2023, regarding a potential partial combination with GCP Infrastructure. The proposal would be effected by way of a scheme of reconstruction of […]

Sectors
Companies
10 Aug 2023
logos for three dental businesses bought by Oakley plus its logo

Oakley invests in dental labs

Oakley Capital Fund V, one of the funds that make up the portfolio of Oakley Capital Investments, has agreed to acquire Flemming Dental, Excent, and Artinorway Group in a carve-out from European Dental Group, a leading pan-European oral care and services provider. In combination, these will form one of the leading dental laboratories groups in […]

10 Aug 2023
a photograph of a Redwood grove split into nine squares with the words Baillie Gifford US Growth

Manager laments five-year underperformance of Baillie Gifford US Growth

Baillie Gifford US Growth Trust has published results for the 12 months ended 31 May 2023. The share price and NAV returned -13.8% and -2.7% respectively. This compares with a total return of 4.7% for the S&P 500 Index. There is no dividend (no net income to pay one out of). Buyback abandoned The shares moved […]

10 Aug 2023
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 10 August 2023 – DLN, TLEI, JARA

In QuotedData’s morning briefing 10 August 2023: Derwent London (DLN) says that it has signed new leases totalling £7.0m since 30 June 2023. Activity includes Moelis & Company pre-letting c.50,000 sq ft at 25 Baker Street for a term of 15 years, with a tenant break option at year 10 – the commercial element of […]

Companies
09 Aug 2023
Tritax EuroBox acquires a distribution centre in Barcelona

Successful disposal for Tritax EuroBox

Tritax EuroBox (EBOX) has successfully exchanged contracts for the sale of its warehouse asset in Hammersbach, Germany for a price of €64.6 million to a leading pan-European real estate investment manager. The sale price is broadly in line with the valuation as at 31 March 2023. The 43,153 sqm prime logistics property in Hammersbach, Germany was acquired […]

Sectors
09 Aug 2023

QuotedData’s morning briefing 9 August 2023 – VEIL, AIRE, LABS, IHR, API, FSFL

Vietnam Enterprise Investments (VEIL) announced an update for Q2. NAV increased 4.6% over the period against a rise of 5.2% for its reference index, the Vietnam Index. In H1 2023, VEIL’s NAV increased 10.3% against a rise of 12.2% for the VNI. All in total return US dollar terms.  Alternative Income REIT (AIRE) announced that it […]

Companies
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