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).
Symphony International Holdings Limited has published Q4 figures and full year results for the year ended 31 December 2014. At 31 December 2014 the net asset value was US$705,412,021 and NAV per share was US$1.3473. This compares to NAV and NAV per share of US$767,400,667 and US$1.4657, respectively, at 30 September 2014 and represents a 14.6% increase […]
Jupiter US Smaller Companies has announced interim results for the six months ended 31 December 2014. Over this period the fund underperformed its benchmark, the Russell 2000 index, by 6% – the NAV rose b y 4.7% vs. a 10.7% increase in the Index (in Sterling terms). The report says the main reason for this […]
New City High Yield’s interim results statement for the six months ended 31 December 2014 shows the company generating a negative return on net assets of -2.1% but a return shareholders of +2.1% as the company moved to trade on a higher premium. The net asset value slipped by 5.8% but the dividend was increased by […]
The Renewables Infrastructure Group has announced results for the year ended 31 December 2014. Over the period the net asset value rose slightly from 99p to 99.3p, the company paid total dividends for the year of 6.08p and the total return to shareholders was 7.5% – well ahead of the 1.2% return on the FTSE […]
Temple Bar has published results for the year ended 31 De ember 2014. Over the period the fund returned -1.7% on net assets, behind the 1.2% return on the fund’s benchmark index, the FTSE All-Share. The fund borrowed £50m for 15 years in 2013 but still hasn’t spent any of the money on equities, the […]
Sanditon has published its first set of interims since listing. Having started operations with a net asset value of 98.7p, the fund ended 2014 with a net asset value of 99.2p. At one point on the period though the net asset value had touched 103.1p. The fund kept its net exposure to the market fairly […]
Qatar Investment Fund reported NAV growth of 8.6% for the second half of 2014, compared to a 6.9% increase in the Qatar Exchange Index. They paid a dividend of 3.5 cents per share. the discount widened to 12.1% meaning that the return to shareholders was 5.1%. The Qatar Exchange was the only one in the […]
At Baker Steel Resources Trust’s EGM held on Monday 23 February all the resolutions were passed. the issue price for shares available under the open offer was 36.2p and 3,368,488 new shares are being issued in response to that (the share price is still c10% below the 36.2p level so the low level of take up is maybe […]
BlackRock Latin American has published its results for the year that ended on 31 December 2014. over that period the fund outperformed its benchmark. The total return on net assets was -9.3% – better than the -12% return on the MSCI Latin America Index. the return to shareholders was -4.0%. The final dividend is being […]
Target Healthcare REIT has published results for the six months ended 31 December 2014 that show the company’s net asset value rising by 0.8% to 95.5p on property values that rose by 2.7% on a like for like basis. Revenue earnings increased by 91.6% to 3.2p. they paid two quarterly dividends of 1.53p, up 2%. […]
Greencoat UK Wind has published results for the year ended 31 December 2014. Over 2014 it generated a return on net assets of 8.7% – their net asset value rose by 2.5% and they paid dividends totalling 6.16p, these were covered 1.6x by earnings. The target for the dividend for 2015 is 6.26p – an […]
Standard Life UK Smaller Companies has published interim accounts for the six months ended 31 December 2014. It beat its benchmark over this period, returning 1.6% on net assets as compared to a -1.3% return on the Numis Smaller Companies Index (excluding Investment Companies) and the FTSE100 Index of the largest UK listed companies fell by […]
Better Capital Fund I has split its investment in IT services business, Calyx Group, into two parts – Calyx Managed Services and m-hance (presumably deciding that they weren’t “better together”) and has sold off the Calyx Managed Services part to MXC Capital Limited for an enterprise value of £9m. Fund I will get cash of […]
Tritax Big Box REIT has published its first set of results, covering the period from inception on 1 November 2013 until the end of December 2014. over that period the fund’s net asset value rose to 107.02p – up from 98p (post issue expenses) when it launched. They also paid two dividends – the first […]
3i Infrastructure is paying €111m for a 45% interest in Oiltanking Terneuzen B.V. in the Netherlands and Oiltanking Ghent N.V. in Belgium. The Oiltanking companies provide storage and related services for refined oil products, chemicals and biofuels. Both companies provide essential services and benefit from locations, facilities and operational capabilities that give them strong appeal […]
JPMorgan Mid Cap has announced interim results for the six months ended 31 December 2014 that show the fund delivering a total return on net assets of 9.6% – well ahead of the FTSE Mid 250 Index which returned 3.2%. The return to shareholders was 9.2%. the interim dividend has been increased by 45%, from […]
JPMorgan Private Equity has announced interim results covering the six months ended 31 December 2014. Its net asset value rose by 7 cents over the period or 6.4% and its share price rose by 5.5%. JPMorgan Private Equity has made good progress on its plan to cut debt and invest $150m in new investments. It has been reducing its exposure […]
Genesis Emerging Markets has reported an NAV that has barely changed over the six months to the end of December 2014 – falling from 578p to 576p. The share price fell by 4% however as the fund’s discount widened to 9.4%. Following a regular internal review, the Manager has considered that a reduction in the […]
JPMorgan Overseas shareholders made more money than the fund’s benchmark, the MSCI all countries World Index, over the latter half of 2014. The total return to shareholders was was 8.7% vs. 7.6% on the Index. The outperformance came from an improvement in the fund’s rating rather than the performance of the underlying portfolio however; on a […]
Herald Investment Trust’s results for the year ended 31 December 2014 show its asset value outperforming its benchmark but shareholders losing money as its discount widened. The total return on net assets for the year was 1.3% while a blend of the Numis Smaller Companies Index plus AIM excluding investment companies and the Russell 2000 (small cap) […]
Primary Health Properties has announced results for the year ended 31 December 2014 that show a 6.3% increase in its EPRA net asset value to 319p (on property values up 3.2% on a like for like basis) and EPRA earnings per share more than doubled from 7.6p to 16.4p. The full year dividend has been […]
Kennedy Wilson Europe Real Estate has recently completed the acquisition of eight loans secured by first ranking mortgages over eight Park Inn hotels across the UK from two financial institutions. The purchase price for the loans is £61.5m reflecting a gross yield on cost of 9.3%. The acquisition will be funded from the Company’s cash resources. […]
City of London’s interim results for the six months ended 31 December 2014 show it generating a total return on net assets of 2.1% and a return to shareholders of 1.6%, better than the FTSE All-Share index which returned -0.4%, the average for its AIC peer group, 1.2%, and the average UK Equity Income OEIC, […]
Utilico Investments has published its interim report covering the final six months of 2014. Over that period the total return on net assets was -2.0% which compares to a return of -0.4% on the FTSE All-Share Index. Within the listed portfolio, Zeta Resources and Resolute Mining fell by 35.2% and 59.0% respectively. This reduced Utilico’s listed portfolio value […]
El Oro has published its interims for the six months that ended on 31 December 2014. The net asset value fell from 95p to 79.7p. Exposure to resource stocks was a significant factor in this. ELX : El Oro net asset value plunges
Brunner Investment Trust has published its results for the year that ended on 30 November 2014. Over the year the fund’s net asset value total return lagged the return on its benchmark by 3.6% (Brunner’s return was 6.0% and 9.6%). The company’s earnings fell too, by 3.3% to 14.7p. By contrast however the full year dividend […]
Witan has announced that James Hart is joining Witan’s management team to work alongside Andrew Bell on “developing, implementing and communicating Witan’s investment strategy”. After graduating from The University of Exeter in 1992, James joined Olliff & Partners, a stockbroker specialising in closed-end funds. In 1996, he joined Bank Julius Baer to develop the bank’s […]
GLI Finance announced its net asset value as at the end of December 2014 today – 51.0p, up from 48.3p as the valuations of its underlying fund platforms rose. It also announced that it is exploring the launch of a fund, an independent investment company which would be managed by GLI and invest in a […]
HICL Infrastructure is paying €3.4m for an 85% stake in the Ecole Centrale Supelec PPP Project (“Project”). The Project reached Financial Close on 16 February 2015 and consists of the design, construction, finance and maintenance of a new facility for the Ecole Centrale Supelec on plateau de Saclay, near Paris, as well as a shared teaching […]
Real Estate Investors is buying 35-37 Great Charles Street, Birmingham for £1.85m. The building is a 24,500 sq ft prime city centre office building nearby to the new Paradise Forum development and at the heart of the new City centre masterplan. The building is part let producing £214,709 p.a. and tenants include National Governors’ Association, Children’s […]
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