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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).

14 May 2015

Standard Life Equity Income reports on strong first half

Standard Life Equity Income Trust is publishing its half year results for the six months ended 31 March 2015. The total return on net assets came in well ahead of the return in the benchmark (FTSE All-Share Index) at 12.8% vs. 5.3%. The share price return though was 5.7% – still ahead of the benchmark […]

Sectors
Companies
14 May 2015

A strong year for 3i

3i Group’s annual results for the year ended 31 March 2015 show the company performing well with NAV increasing by 14% to 396p per share (despite foreign exchange losses of 12p per share). Management report that all three businesses are performing well. The private equity portfolio saw realisations worth £831m, investment of £369m across four transactions and an […]

Geographies
  • Europe (EU and EEA ex UK)
  • UK
  • Asia
  • North America
14 May 2015

A busy year for NewRiver Retail

NewRiver Retail has published its annual results for the year ended 31 March 2015, which management describe as their best financial year to date. These show a 14% increase in its EPRA NAV to 265p (2014: 240p). It was a busy year for the company during which it raised £75m of equity (to fund £71 million acquisition from its joint venture […]

13 May 2015

Hansteen sells Industrial Property Unit Trust

Hansteen has sold its Hansteen UK Industrial Property Unit Trust II for £192.1m to a fund advised by Brockton Capital LLP in a partnership with Dunedin Property. The deal adds about £5m to Hansteen’s end December asset value. They launched the unit trust in May 2013 with £107m investment from them and clients of Aviva Investors. They […]

Sectors
13 May 2015

TwentyFour Select Monthly Income NAV falls

TwentyFour Select Monthly Income Fund has published interim results covering the six months to the end of March 2015. The fund launched on 10 March 2014 and so is now over a year old. The net asset value at the end of the period was 96.62p – down from 100p at launch and 98.41p at […]

13 May 2015

Aberforth funds cut management fees

Aberforth Geared Income Trust is cutting the “asset fee” element of its management fee from 1% to 0.9% with effect from 1 July 2015. This is obviously welcome news for its shareholders but it is odd that it didn’t simplify its fee at the same time – from 1 July the fee is: 0.9% of the […]

Sectors
12 May 2015

Finsbury Growth & Income powers ahead

Finsbury Growth & Income’s interim results for the six month period that ended on 31 March 2015 demonstrate why it is so popular with investors. The total returns on both net asset value and share price were 17.4% and 17.3% respectively while the return on the FTSE All-Share Index was just 5.3%. The first interim […]

Sectors
Companies
12 May 2015

3i Infrastructure planning return of capital

3i Infrastructure’s results for the year ended 31 March 2015 demonstrate the positive impact on the business from their sale of Eversholt Rail. The total return on net assets for the period was 24.6%. The dividend is upped from 6.7p to 7p and a 17p special dividend is planned for July. They plan to pay a […]

12 May 2015

JZ Capital revises plan to pay off zeros

JZ Capital has announced results for the year ended 28 February 2015 show that the fund generated a total return on net assets of 8.9%. They declared a second dividend of 17.5 cents per share for the six months ended 28 February 2015, compared to 16.0 cents for the period ended 28 February 2014. Having […]

Geographies
  • North America
  • Europe (EU and EEA ex UK)
  • UK
Sectors
12 May 2015

LXB Retail planning significant capital return

LXB Retail has published figures for the six months ended 31 March 2015. It was a busy period for the company with a number of major deals announced within the portfolio. The net asset value climbed by 5.57p as the value of its property portfolio was marked up by £12.1m. The company faces a continuation […]

12 May 2015

Keystone outperforms, says little threat to tobacco holdings from plain packs

Keystone’s interim results for the six months ended 31 March 2015 show the fund’s net asset value delivering a total return of 7.8% – ahead of the 5.3% return generated by the FTSE All-Share Index. The return to shareholders was 7.2%. The dividend was maintained at 18p per share. The report says holdings in Reynolds […]

Sectors
Companies
11 May 2015

Nimrod Sea Assets hit by oil price fall

Nimrod Sea Assets published a trading update on Friday afternoon in which it said Fletcher Shipping has notified Aberdeen Offshore (which is the General Partner of the entity in which Nimrod Sea Assets has a 75% equity interest) that it will not be taking delivery of the second vessel (known as FS Scorpius) from the […]

11 May 2015

John Laing Infrastructure shareholders defeat resolution

  Shareholders in John Laing Infrastructure refused to support one of the resolutions that the Board put forward at the company’s recent Annual General Meeting. In language might have been incomprehensible to many shareholders, the Board had couched a resolution that would have made it easier to issue new shares in the  company without first offering […]

Geographies
  • UK
  • Europe (EU and EEA ex UK)
  • North America
11 May 2015

Polar Capital Global Healthcare thinking about its long term future

Polar Capital Global Healthcare interim results for the six months ended 31 March 2015 show the company’s net asset value total return was 19.1%, a good result but unfortunately 2.6% behind the MSCI All Countries World Index Healthcare Index. What’s more, the discount widened from 5.4% to 9.8% so the return to shareholders was even […]

Sectors
08 May 2015

Empiric invests £11m in Newcastle

Empiric Student Property has announced the acquisition of Claremont Place in Newcastle, a terrace of Grade II listed buildings being converted to a luxury, direct-let, student accommodation property by specialist developer, Ziggurat Student Living. The building is expected to be operational by September 2015, in time for the 2015/16 academic year. The property is immediately adjacent to […]

Sectors
08 May 2015

Scottish Mortgage beats benchmark by large margin

Scottish Mortgage has published results for the year ended 31 March 2015. Its net asset value total return for the year was 27.7% and the share price total return was 29.6%; these returns were well ahead of the FTSE All-World Index, which produced a total return over the period of 19.2%. A final dividend of 1.55p is proposed, giving […]

Sectors
07 May 2015

Baring Emerging beats falling market

Baring Emerging Europe’s half year results, for the six months to the end of March 2015, show that the fund outperformed a falling market with the net asset value total return being -9.9% as compared to a -11.0% return on the MSCI Emerging Market Europe 10/40 Index. The return to shareholders was -8.2%. The Chairman’s statement […]

Sectors
07 May 2015

JZ Capital adds another Williamsburg property

JZ Capital Partners and its property partner, Red Sky Capital, are buying 192 Bedford Avenue in Williamsburg, New York. The property features frontage of 20 ft. on Bedford Avenue and offers up to 6,000 sq. ft. of build-to-suit multi-level retail space with only one short term lease (Mizu, a Japanese restaurant) encumbering the property. JZ […]

Geographies
  • North America
  • Europe (EU and EEA ex UK)
  • UK
Sectors
05 May 2015

Kennedy Wilson buys Pioneer Point debt

Kennedy Wilson Europe has paid £68.5m to acquire a loan secured against the freehold interest in Pioneer Point, Ilford. The loan is non-performing and the unpaid principal balance of the loan is £149m. Kennedy Wilson reckon that the purchase price of the loan is materially below the replacement cost of the property. Pioneer Point is […]

Sectors
05 May 2015

MedicX issues loan notes to Standard Life

MedicX Fund has issued £50m worth of loan notes to Standard Life Investments. The loan notes mature on 30 September 2028. £25m has been drawn down now and the balance will be drawn down in September 2015. The interest rate on the notes is 3.838% per annum and this brings the weighted average cost of debt […]

05 May 2015

Tritax invests in New Look distribution centre

Tritax Big Box REIT is spending £30m to buy one of New Look Retailers Ltd’s two adjoining national and European distribution centres in Newcastle-under-Lyme. the purchase price works out at a net initial yield of 5.9%. Constructed in 2007 and extended in 2011 to satisfy New Look’s expansion requirements, the property comprises a gross internal […]

05 May 2015

Troy Income and Growth’s ongoing charges are falling

Troy Income & Growth has published interim results for the six months ended 31 March 2015. This was a good period for the fund which returned 10.3% on net assets – almost twice the 5.3% return posted by the FTSE All-Share Index. Shareholders did even better as the fund moved to trade on a higher […]

Sectors
05 May 2015

Empiric Student Property expands in Exeter and Manchester

Empiric Student Property is buying a 61 bed direct-let, premium student accommodation scheme in Exeter for £6.1m and is paying £1m for the freehold of a site for a 93 bed residential development in Manchester. In Exter, they will acquire the freehold to the site which was previously home to the Exeter library and is a […]

Sectors
05 May 2015

GLI Finance invests in Funding Options

GLI Finance is investing £1.25m in ordinary shares and £0.75m in preference shares issued by Funding Options. They’ll get a 28.9% stake in the company. Funding Options uses proprietary online technology to scan the alternative finance market for the most suitable funding options available. Mixing sophisticated matchmaking tools, accessible expert support and practical education materials, […]

01 May 2015

Ukraine Opportunities considering change of strategy

Ukraine Opportunity results reflect the turmoil that that country has been through over the course of 2014. Over the year the net asset value fell by 45%. The share price move wasn’t quite so bad however – it fell by 19.5% to end the year on a discount of 13.2% rather than the 40% it […]

Sectors
01 May 2015

Schroder Income Growth stock selection adds value

Schroder Income Growth interims for the six months ended 28 February 2015 were published last night. The fund outperformed the FTSE All-Share Index, achieving a net asset value total return of 7.9% versus the 4.1% recorded by the Index. At the same time, the Company’s share price produced a total return of 6.0%, with the […]

Sectors
Companies
01 May 2015

Strong year for entertainment One not fully reflected in Marwyn results

Marwyn Value Investors’ 2014 results show the NAV rose by 14.5% over the year. The bulk of Marwyn’s net asset value is invested in Entertainment One (ETO). During the twelve month period to 31 December 2014, ETO’s share price increased from 259.2p to 322.4p, an increase of 24.38%. It is hard to tell from the accounts […]

Sectors
01 May 2015

Carador beats loan and high yield indices in 2014

Carador has published its results for 2014. The statement says risk assets and sub-investment grade corporate credit markets in particular experienced considerable price volatility with the Credit Suisse Indices for both leveraged loans and high yield bonds delivering just 2.1% and 1.9%, respectively. Against this backdrop, the Company delivered a 6.3% total shareholder return in 2014, outperforming the […]

01 May 2015

Blackstone/GSO says everything going according to plan

Blackstone/GSO Loan Financing has published its first set of results covering the period from incorporation, through IPO on 23 July 2014 to the end of December 2014. By the end of the year they were only 32% invested and even now this only up to 51% but they knew it would take time and say […]

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