Alpha Real Trust (ARTL) has published its annual results for the year ended 31 March 2017. During the period, the trust’s NAV per share grew by 15.2% to 158.9p. It also paid a quarterly dividend of 0.6p (2.4p in total for the year). Its chairman, David Jeffreys, describes the period as a, “very active year […]
LMS Capital has announced that it has been informed by the general partner of the San Francisco Equity Partners Funds (SFEP Funds) that the funds have received cash proceeds from a partial realisation of holdings in YesTo and that the general partner intends shortly, to make a distribution. LMS Capital says that, whilst it not […]
Adamas Finance Asia has announced that, further to its previous announcement on 24 February 2017 in relation to the proposed disposal of its interest in the Tian Tong Shan Villa Project, the Company’s wholly owned subsidiary, Lead Winner Limited, has received a payment of HKD$52,353,176 (approximately US$6.8 million) in final settlement of the amount due […]
NewRiver REIT has announced the results of its capital raising, which was conducted as an accelerated book build. It says that subject to the necessary resolutions being passed at the General Meeting ,which is expected to be convened to be held on or around 4 July 2017, in aggregate, 67,164,179 New Ordinary Shares are to […]
Custodian REIT buys Next distribution unit – the company has acquired a 69,922 sq ft distribution unit on Eurocentral, Scotland’s leading mixed-use business park on the M8 arterial route between Glasgow and Edinburgh. Nearby occupiers include DHL, Warburtons, Argos, Wincanton, Norbert Dentressangle and Morrisons. The unit is let to Next plc on a lease expiring […]
Ranger’s board makes some policy changes, manager commits to reinvesting part of fee and update on Princeton. Ranger Direct Lending Fund has been informed by Ranger Alternative Management II LLP (the “Investment Manager”) that it intends to utilise part of its management fee to acquire ordinary shares in the market in order to demonstrate its […]
Power price recovery boosts John Laing Environmental NAV – John Laing Environmental says its NAV at 31 March 2017 was 100.1p, up from 96.7p at 31 March 2016. They say that the increase in NAV per share was due primarily to the increase in both short-term electricity prices and forecasts for longer-term prices during the year […]
UK Commercial buys Sheffield office from Ediston – UK Commercial Property Trust has acquired a single let, Grade A office building in Sheffield, from Ediston Property Investment Company for GBP20,165,000, reflecting a net initial yield of 5%. The asset is let to Capita Business Services Limited, which is part of Capita plc, on a lease with […]
Hg Capital sells Zitcom for £8.8m. HgCapital, the Manager of HgCapital Trust, has announced that it has sold Zitcom, a leading Danish hosting and cloud solutions provider operating in the SME segment, to Intelligent, a Belgian headquartered provider of hosting services. The terms of this transaction were not disclosed. The sale of Zitcom delivers a […]
Aberdeen New India Invest Trust (ANII) has announced its annual results for the year ended 31 March 2017. During the period, the company’s NAV per share rose by 34.7% to reach 487.9p. The ordinary share price rose by 40.9% to 441.5p. This reflected a narrowing of the discount to net asset value from 13.5% to […]
Seneca Global Income & Growth outperforms strongly Seneca Global Income & Growth Trust (SIGT) has announced its annual results for the year ended 30 April 2017. During the period, the trust provided an NAV total return of +19.6% and share price total return of +20.7%, both of which significantly outperformed its Libor+3% benchmark. The chairman’s […]
Gabelli Value Plus delivered a net asset value (NAV) total return of 36.2% during the year to 31 March 2017. The U.S. stock market delivered a total return of 17.2% in U.S. dollars over the year, which translated into a return of 34.4% for sterling investors. So, the NAV total return was ahead of the return […]
GCP Student Living (DIGS) is seeking to raise £70m through a placing of new ordinary shares under its 2017 Placing Programme. The company says that the placing price will be 142 pence per share, which represents a 6.75 pence discount to the closing mid-price per ordinary share on 12 June 2017 of 148.75 pence. It […]
Montanaro UK Smaller Companies sets out case for continuation after 43% long term underperformance – over the year to 31 March 2017, the NAV per share of Montanaro UK Smaller Companies (excluding current period revenue) rose by 11.3% to 621.6p in comparison with a gain of 15.4% by the Numis Smaller Companies Index. During the same period, […]
John Laing diversifies overseas The last time I dedicated an article to John Laing Infrastructure (JLIF) was back in September 2011. The fund was quite new then having launched at the end of November 2010, although the sector had been around for a while given HICL (HICL) launched in March 2006, followed by International Public […]
Brexit isn’t all bad news for UK property The past couple of weeks have seen a clutch of results announcements by the larger real estate investment (REIT) and property trusts. The periods they are reporting on incorporate the run up to the referendum vote and its aftermath, and adverse changes to the stamp duty regime. […]
NextEnergy adds another 76.4MWp – 16.6MWp split among four operating plants and 59.8MWp in development projects. The three operating solar plants, acquired from one seller, comprise Barnby (4.99MWp, Nottinghamshire), Bilsthorpe (4.99MWp, Nottinghamshire) and Wickfield (4.90MWp, Wiltshire). All three plants were connected to the grid during March 2017 and are expected to be accredited under the 1.2 […]
Custodian REIT buys Langley Mill business park – Custodian REIT, the UK property investment company, has acquired a 20,678 sq ft distribution unit on Access 26 Business Park, Langley Mill, located near junction 26 of the M1. Nearby occupiers include DHL, 3663 Logistics and Travis Perkins. The unit is let to Warburtons Limited on a lease […]
Duke Royalty river cruise finance paying off. Duke‘s inaugural royalty investment, successfully launched its maiden voyage for its third vessel, the Carmen. Duke says that this marks a memorable day for Temarca and demonstrates the rapid progress made since Duke’s EUR8 million royalty investment which was concluded in April 2017. In response to the growing […]
Tritax buys Ocado’s Birmingham distribution facility – Tritax Big Box REIT plc has acquired a distribution facility at Birch Coppice Business Park, Dordon, Birmingham operated by Ocado Limited and serving both Ocado’s and Wm Morrison Supermarkets Plc’s online retail businesses. The total consideration is GBP92.33 million (excluding purchaser’s costs), reflecting a net initial yield of 5.25% on […]
Better Capital completes Gardner Aerospace disposal to Ligeance Investments Limited, a wholly owned subsidiary of Shaanxi Ligeance Mineral Resources Co., Ltd. for GBP326.0 million on an Enterprise Value basis. Gardner is an award-winning leading Tier-1 supplier of detailed parts and added-value services to the global aerospace industry. The business was acquired by the 2009 Fund in […]
Fidelity China’s Dale Nicholls doubles investors’ money in three years. Nicholas Bull, chairman, said “It is now increasingly accepted by investment professionals that China’s sheer economic size, along with its record of delivering year on year growth, means that anyone building an investment portfolio should consider having an exposure to China. The end of the […]
Montanaro UK Smaller Companies Investment Trust, managed by Anna Lunden and chaired Kathryn Matthews (pictured), has announced that it is to benefit from a reduced management fee. The investment management fee, paid to Montanaro Asset Management Limited, has been reduced to 0.5% per annum of gross assets (previously 0.85% p.a.). This change is effective retrospectively […]
Templeton Emerging Markets shareholders make 48% in a year. Templeton Emerging Markets (TEMIT) generated a return of 47.8% on net asset value over the year to the end of March 2017. Shareholders did even better as the discount narrowed slightly leaving them with a return of 48.3%. By contrast, the MSCI Emerging Markets Index returned […]
Workspace has announced that, having noted media speculation regarding the potential acquisition of Salisbury House at 28-31 Finsbury Circus, EC2 for around £158 million, it can confirm, “that it is in discussions for the asset in question”. Workspace says that there can be no certainty that any transaction will proceed and a further announcement will […]
JPMorgan Japan Smaller Companies Trust has announced its annual results for the year ended 31 March 2017. During the period, the Trust’s NAV total return was +20.9% and its share price total return was +25.2%. These both underperfomed the trust’s benchmark which it says provided a total return of +34.6%. The chairman, Alan Clifton, says […]
Healthier tobacco helps Securities Trust of Scotland outperform. Mark Whitehead, head of Martin Currie’s newly resourced income team, was appointed as portfolio manager of Securities Trust of Scotland in May 2016. Since taking over, Mark has repositioned the portfolio with a greater focus on companies that exhibit growth and have a strong degree of security in their […]
Picton Property cuts debt as shareholders make 25% returns Picton Property Income has released results for the year ended 31 March 2017. These show: An increase in EPRA NAV per share of 6.0%, to 82 pence per share Income profit increased by 30% to GBP25.8 million Total return of 10.4% Shareholder total return of 25.6% […]
Workspace dividend soars by 40%. Workspace owns and manages more than 3.5 million sq. ft. of business space across 68 London properties. It is home to some 4,000 businesses including some of the fastest growing and established brands across a wide range of sectors. Workspace’s results for the year ended 31 March 2017 show: EPRA net […]
LMS Capital handing back another £11m in two tender offers. In its circular published on 27 July 2016, LMS Capital proposed two further returns of capital to shareholders either by way of tender offers or share repurchases. This would be up to half the net proceeds of further sales of assets from the existing portfolio. The details of […]
