Shires Income had a better year over the year to the end of March 2017 net asset value per share increased by 24.5% on a total return basis, compared to a total return from its benchmark of 22.0% (last year the figures were -7.0% and -3.9% respectively). The revenue return for the year was 13.08p per […]

LondonMetric Property buys three urban logistics warehouses as it announces results for year to 31 March 2017 that show NAV up 1.4%. LondonMetric Property buys three urban logistics warehouses LondonMetric Property has bought three separate urban logistic warehouses in Crawley, Coventry and Huyton for GBP23.9 million. The purchase price reflects a blended yield of 6.0% […]

Aberdeen Japan held back by currency hedge as the Yen soared by 16% against Sterling following the Brexit vote. On a total returns basis, the net asset value returned 20.5%, underperforming the benchmark by 12.5%.  The hedge accounted for 7.0% of this underperformance. The share price’s total return was 23.5% and the discount to NAV per Ordinary […]

Lowland chops management fee as its interims show the fund outperforming its benchmark. In Lowland’s current management agreement the management fee is charged at 0.5% per annum. This rate will continue to apply to the first GBP375m of net chargeable assets but, with effect from 1 July 2017, a reduced management fee of 0.4% per annum on assets above […]

Manager bids for Dragon Ukrainian Properties – Dragon Capital Investments Limited, part of the Dragon Capital Group, the Ukrainian investment and financial services group, announced that on 29 May 2017 it purchased 11,687,200 ordinary shares in Dragon-Ukrainian Properties and Development Plc amounting to approximately 10.69 per cent of the issued share capital of Dragon-Ukrainian Properties […]

JPMorgan Global Convertible sets 2% discount target as it seeks to address its discount problem. JPMorgan Global Convertibles Income Fund Limited provides investors with exposure to a globally diversified portfolio of convertible bonds and the portfolio has been constructed to deliver an attractive level of yield with the potential for some capital growth.  Since IPO […]

Edinburgh Investment Trust held back by lack mining exposure, HSBC and Royal Dutch Shell. While the UK market returned 22%, for the year ended 31 March 2017, Edinburgh Investment Trust’s net asset value total return was +14.4% and the share price total return (with dividends reinvested) was +11.2%. The share price ended the year at 713.5p, an increase […]

Witan drops two managers to up active share – Following a review of its five managers with a global equity remit, Witan has decided to consolidate the previous five portfolios into three, under the management of three of its existing managers. Lansdowne Partners (UK) LLP, Pzena Investment Management and Veritas Asset Management will each manage […]

SQN Secured Income appoints managing director – Dawn Kendall has been appointed as managing director of SQN Asset Management Ltd, the UK Manager of the SQN Secured Income Fund PLC. Dawn joins SQN from TwentyFour Asset Management where she was a partner, portfolio manager and a member of the executive committee. She started her career […]

Honeycomb Investment Trust (HONY) has published a prospectus in relation to a share issuance programme of up to 40 million new Ordinary Shares and/or C Shares, including a first placing of Ordinary Shares. The Company says that it has fully deployed the net proceeds of the IPO placing and the placings of Ordinary Shares undertaken […]

VPC Specialty Lending (VSL) has announced that it has agreed with its Investment Manager, Victory Park Capital Advisors, LLC to introduce of a performance hurdle in respect of the performance fees payable to the Investment Manager. With effect from 1 May 2017, the payment of any performance fees to the Investment Manager will be conditional […]

Oakley Capital Investments (OCIL) has announced that Oakley Capital Private Equity III (Fund III) has now completed the acquisition of a majority stake in TechInsights, which it describes as a global leader in the intellectual property and technology services market. Fund III has invested US$49.7 million in the business. OCIL’s indirect contribution through its interest […]

Hadrian’s Wall Secured Investments (HWSL) has announced the results of C Share Placing and Offer for Subscription, through which it has raised £45.2m. HWSL says that, in total, applications were accepted in respect of 45,194,862 C Shares, comprising 40,456,862 C Shares under the Initial Placing and 4,738,000 C Shares under the Initial Offer for Subscription. […]

Hammerson has announced that it has exchanged contracts for the sale of Westwood and Westwood Gateway Retail Parks, Thanet, to clients of BMO Real Estate Partners for £80 million. The sale price represents a net initial yield of 6.5% and is slightly below December 2016 book value. The retail parks, covering a total of 24,900 […]

UK Mortgages Limited (UKML) and TwentyFour Asset Management LLP (TwentyFour) have announced the mandate for Oat Hill No.1 PLC, a public securitisation of Buy-to-Let mortgages originated by Capital Home Loans, purchased in February 2017 by UK Mortgages. TwentyFour, the appointed Portfolio Advisor, has mandated BofAML as Arranger and BofAML and NatWest Markets as Joint Lead […]

 Alpha Real gets planning for its Monk Bridge site in Leeds. Planning has been obtained at the monthly planning committee for Leeds City Council in respect of the Company’s Private Rented Sector (“PRS”) development site at Monk Bridge in central Leeds. Detailed planning was obtained for 307 PRS flats in three buildings over 180,049 square feet […]

Syncona up on drug approval – on Wednesday 23 May, Syncona announced that Blue Earth Diagnostics had received confirmation of approval of its product AxuminT (fluciclovine (18F)) (“Axumin”) by the European Commission. This follows the announcement on 24 March 2017 that the Committee for Medicinal Products for Human Use had made a positive recommendation for […]

Caledonia’s net asset value per share total return was 18.0% for the year ended 31 March 2017, following 2.6% for the previous year. All four of its investment pools produced double digit returns. Investment income for the year was GBP47.3m, a fall of GBP3.4m compared with the unusually high level of the previous year. Additionally, following […]

As TR Property announces its full year results for the year ended 31 March 2017,  Hugh Seaborn, its chairman, commented: “I’m pleased to report another solid year of performance from the Trust. The Board are particularly pleased to announce  a final dividend of 6.4p which brings the full year dividend to 10.5p, a 25.7% increase on […]

River & Mercantile Micro Cap is handing back cash as assets hit £117m. On 16 January 2017, the Board reminded shareholders that, were the company’s net asset value to grow in excess of GBP100m, the directors intended to operate a redemption mechanism under which a portion of share capital may be redeemed compulsorily so as […]

Apax Global Alpha, a fund in the AIC’s private equity sector, has made a number of announcements this morning. Apax Global Alpha commits to Digital Fund It is committing US$50m to a new fund, Apax Digital Fund.  The Apax Digital platform will aim to pursue a balanced portfolio of growth buyout and growth equity investments in technology companies globally. […]

Epiris has announced that Electra has sold Pine Unit Trust as part of a wider transaction that saw Epiris raise £95m. PINE Unit Trust is a freehold investment property portfolio focused on the UK education sector. Epiris has sold this to the Universities Superannuation Scheme for GBP95 million. Electra Private Equity has received proceeds of GBP50 million […]

Schroder European Real Estate, which sits in the AIC’s European property sector, announced its interim results this morning and, yesterday, it announced that it had bought a shopping centre. Schroder European Real Estate buys Seville shopping centre Schroder European Real Estate Investment Trust (SERE) has completed the purchase of the Metromar shopping centre in Seville, Southern […]

MedicX Fund,  has announced its fourth acquisition in Ireland having contracted to acquire, by way of forward funding, a new primary healthcare medical centre in Tallaght, Dublin 24. This is the second scheme being developed under the Framework Agreement with Feasible Developments and the property is due to be completed in December 2017. Upon completion, the […]

P2P Global manager merging with Pollen Street Capital – MW Eaglewood is to be absorbed by Pollen Street Capital. Following an extensive process, P2P Global says it has concluded its review of its investment management arrangements. A joint proposal was submitted by the existing investment manager, MW Eaglewood Europe LLP, and Pollen Street Capital Limited […]

HICL Infrastructure forecasts dividends out to 2019 as it announces results for the year ended 31 March 2017. Highlights for the year ended 31 March 2017 Portfolio performance exceeded expectations during the year NAV per share as at 31 March 2017 of 149.0p, up 4.8% from 142.2p as at 31 March 2016 Total shareholder return […]

Great Portland Estates results for the year to 31 March 2017 have been released and, while NAV fell, earnings were up. The chief executive acknowledges the short-term challenges facing the capital but says that, in the long-term, London is one of only a handful of truly global cities. Valuation lower – driven by yield expansion in […]

Aberdeen Diversified Income & Growth (ADIG) the reincarnation of BlackRock Income Strategies, is now up and running. As yet, although the discount has narrowed a little since launch (currently 7%), there appears to be some way to go before ADIG is ranked alongside competitors such as Personal Assets (PNL), Ruffer (RICA) and Seneca Global Income […]

The Board of Genesis Emerging Markets informs shareholders that, following discussion with Genesis Asset Managers, LLP, there is to be a reduction in the management fee the Manager is entitled to receive from the Fund. The new management fee will be 0.95% per annum, which is charged on the Net Asset Value of the Fund. […]