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).
Bankers Investment Trust has published its results for the year that ended on 31 October 2014. The net asset value rose by 1.5% while the FTSE All-Share Index fell by 2.3%. The full year dividend was increased by 4.7% to 14.8p and the Board is forecasting a dividend of at least 15.5p for the current […]
TwentyFour Select Monthly Income has published results covering the period from its incorporation on 12 February 2014 to 30 September 2014 (it listed on 10 March 2014). On the income side of things, dividends in the period totalled 3.07p and they continue to target payments of 0.5p per month. The net asset value at the […]
Fair Oaks Income has announced its first dividend since it launched in June 2014. Shareholders on the register on 30 January will get a 4.25 cent per share dividend. the Board of Fir Oaks has decided that the fund will now shift to paying monthly dividends, with the first of these payable in February. Fair […]
British Assets’ results for the year ended 30 September 2014 show the fund generating a return on net assets of 6.6%. This compares to a return of 7.3% on its benchmark (80 per cent FTSE All-Share Index and 20 per cent FTSE World (ex UK) Index). The return to shareholders over the period was 6.3%. […]
Summit Germany has announced that it has raised €120m from investors by way of a placing of 171.4m new shares at 70- cents per share. They plan to use the money to expand the portfolio and have identified an office portfolio worth the full €120m which they are now negotiating on, part of this will […]
BlueCrest BlueTrend announced today that as the average of the Company’s monthly net asset value as at the end of October, November and December 2014 was less than US$100m, it will hold a continuation vote (this is a requirement under the company’s articles). They say Notice convening the general meeting will be published by no later than […]
Origo Partners has announced that eleven employees, including Chris Rynning and Niklas Ponnert, have resigned from the company and eight of these are now employed by Origo Advisers Limited, three employees had their employment contracts terminated at a cost to Origo Partners of $21,000. Origo Advisers Limited has now taken up the reins of managing […]
Independent Investment Trust’s results for the year that ended on 30 November 2014 show it beating the FTSE All-Share Index but lagging the FTSE World Index, returning 10.4% on NAV vs. 4.7% for the UK market and 13.7% for the global index. The discount didn’t change much and so the return to shareholders was 10.6%. […]
North American Income Trust has announced that its current manager, Paul Atkinson, has decided to return to Europe with his family, leaving Aberdeen’s Philadelphia office. Paul has managed the trust since its change of remit in 2012. He will be succeeded by Ralph Basset (the deputy head of North American equities) and Fran Radano (a […]
International Biotech is part owner of an unquoted UK biotech stock, Convergence Pharmaceuticals, that is being acquired by Biogen Idec. At the purchase price of $675m, International Biotech’s stake is worth £6.8m. This compares to the £442,000 valuation of the company in International Biotech’s accounts. For now though International Biotech is writing up the value […]
Ground Rents Income Fund has entered into an option agreement to buy the ground rents of 583 residential units in six buildings for up to £3.9m. They expect these to come into the portfolio over the course of 2015. GRIO is buying the ground rents from Muse Developments, part of Morgan Sindall. The six sites, […]
Middlefield Canadian Income is asking shareholders to approve a change to its investment policy to allow it to invest up to 40% of its portfolio outside Canada (up from 20%). They say most of this extra freedom will be used to invest in the US – there will be a limit of 10% on investments […]
Riverstone Energy is committing $125m towards the creation of a new $375m fund, Riverstone Credit Opportunities, L.P., which has been set up to take advantage of the lack of credit available for energy companies. The fund will be advised by Riverstone’s credit investment team, led by Christopher Abbate and Jamie Brodsky, both of whom joined […]
GCP Infrastructure has announced that it is committing up to £25m to loan notes with about a ten year life that will be issued by GCP RHI Boiler 1 Limited. The loan will be secured against a portfolio of domestic biomass boilers. £4m will be drawn down at the start of the arrangement and the […]
BlackRock Income & Growth has published its results for the year that ended on 31 October 2014 and over that period the fund outperformed the FTSE All-Share Index, generating a return on net assets of 6.3% against a 1% return for the FTSE All-Share Index. the discount widened slightly and so the return to shareholders […]
Further to the Company’s announcement of 19 December 2014, following the downgrading of the Company’s rating by the rating agencies ‘Midroog’ (a subsidiary of Moody’s Investor Services) and ‘Maalot S & P’ (a subsidiary of Standard & Poor’s Rating Services), Mirland has announced a change in its interest rates on its bonds. From 18 December 2014, […]
The board of Scottish Mortgage has announced that Tom Slater has been appointed joint manager of the fund, working alongside James Anderson. Tom has been Deputy Manager of Scottish Mortgage since 2009. Tom graduated BSc in Computer Science with Mathematics from the University of Edinburgh in 2000. He joined Baillie Gifford the same year and worked in […]
CatCo Reinsurance has announced that, after a year where there were no significant calls on the reinsurance they had written, they are planning to make a 10% return of capital to shareholders. This comes on top of a 5.929 cent dividend. The capital return will be done by way a of a B share scheme and […]
NextEnergy Solar has announced the acquisition of a solar power plant on Boxted Airfield, a site owned by Colchester Council, in the village of Langham about 3 miles from Colchester in Essex. The plant is being built on the former RAF Boxfield site and is due to be completed by March 2015. They expect it will attract […]
A happy New Year to all the readers of the QuotedData website. We have been really pleased by the interest and enthusiasm in our site over the course of 2014. The readership has grown as the website has evolved. We have great plans for 2015 and, as ever, if you have any comments or suggestions, […]
For the six month period to 31 October 2014, Schroder UK Growth’s NAV saw a total return of -6.3%, while the share price returned -8.8% and the discount widened from 5.2% at the beginning of the period to 7.8% at 31 October 2014. These performance figures compare poorly with an equivalent return of -1.6% by the […]
In its results announcement released on Christmas Eve, JPMorgan Asian reported underperformance of the fund’s benchmark and a widening of its discount. The Board have held talks with JPMorgan and are anxious that performance improves over 2015. They will hold a continuation vote in 2016 and the statement reads as though the Board would recommend […]
The appointment of administrators at City Link, an investment in the Better Capital 2012 cell, was reported by the media over Christmas. The announcement released today by Better Capital says that they hope that they will recover just shy of £20m from the administration. This is equivalent to the value that they placed on the […]
Tejoori has published its results for the year ended 30 June 2014 – some time ago now. The net assets attributable to shareholders rose from $25.97m to $26.89m. The money they have in Wakala deposits attracts a profit rate of 5% per annum. The larger part of the increase in the value of the company […]
GCP Infrastructure has completed a £12.3m investment in a loan note issued by GCP Social Housing 1 Limited. £1.4m of this money has already been committed and the rest will be deployed over the next five months. The loan note has a life of 35 years and will be used to provide a loan facility secured on […]
Electra Private Equity has announced that Axio Data Group, one of the companies it owns, has sold a specialist logistics intelligence business, Breakbulk, to ITE, the exhibitions group, for £10m. With this deal Electra has taken £76m in cash out of Axio, a business it paid £91m for in 2013, yet Axio still owns five other […]
Starwood European Real Estate is providing £45m towards the £200m refinancing of the Aldgate Tower, a new Grade A office building located in the City of London. The terms of the loan have not been disclosed but Starwood say “The loan’s interest rate is part fixed with part floating over 3 month LIBOR. The Company expects […]
Fair Oaks Income Fund has announced that it has exercised its right as majority holder of the Income Notes in T2 Income Fund CLO I Ltd to redeem all of the notes of T2 CLO. they say the liquidation of the remaining assets in T2 CLO is well underway with the vast majority of assets sold in […]
Empiric Student Property has bought the Algernon Firth student accommodation block in Leeds for £7.2m. Algernon Firth has 111 beds arranged as a mixture of en-suite flats and loft-style studios. The apartments sit within in a Grade II listed building that was originally built for the University of Leeds in 1933 and is named after Yorkshire Industrialist, […]
Globalworth has expanded its presence in the Bucharest office market with the acquisition of the Unicredit Building for €43m. The Unicredit Building is a landmark, class-A office property completed in 2012 and entirely leased to Unicredit Tiriac Bank, part of Unicredit Group, on a long term basis. It is located in in the north part […]
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