News

For the six months ended 31 December 2015, Advance Frontier Markets Fund saw a decline in its NAV of 14.7% during what proved to be a disappointing period for investors in frontier markets. The share price fell by 18.1% as the discount at which the Company’s shares trade widened to 10.0%. The MSCI Frontier Markets […]

GLI Alternative Finance has published its first set of accounts – interims covering the period from incorporation to 31 December 2015. At the end of that period the NAV was 100.9p and dividends of 1.55p had been declared. The report states that, since inception, the Company has declared dividends of 0.6p, 0.4p, 0.55p and 0.55p per […]

Picton Property has acquired a fully let office building in Salford Quays, Greater Manchester for £17.6m. After finance costs this transaction will increase the Company’s net income by approximately £900k per annum, rising to £1.2m per annum in April 2017. This reflects an increase in dividend cover of 5% and 7% respectively. The property, known as Metro, […]

TR European Growth underperformed its benchmark over the second half of 2015 – the net asset value total return (including dividends reinvested) was 6.7% compared to a total return from the benchmark index (The Euromoney Smaller Companies Index ex UK) of 8.2%. The share price total return was 7.0%. The discount increased from 7.6% to 8.0% compared with […]

Pan African Resources, which mines gold in South Africa, increased interim earnings in 2015 by 98% over 2014, to £10.9 million (GBP0.60 per share). Revenue increased by 11% to £75.6 million on the back of gold sales of 101.8 koz (up 17%) and a 11.7% increase in the gold price received, as a fall of […]

In October 2015, Dexion Absolute announced that, in the event that the Shares trade at an average discount of 5 per cent. or more to its NAV in the three months commencing on 1 January 2016, it would put forward proposals for either a winding up of the Company and the appointment of a liquidator or […]

The Renewables Infrastructure Group has published results covering the year ended 31 December 2015. The NAV per share was 99p at 31 December 2015, down from 102.4p at the end of 2014. They say this reflects the impact of the removal of LECs (subsidies) in the Summer Budget. Total distributions of 6.19p per share were declared, up from 6.08p. They are […]

CVC Credit Partners reports an increase in its NAVs from €1.0247 to €1.0257 for its Euro share class and 102.87p to 103.52p for its Sterling share class over the course of 2015. The share prices of the two share classes fell by 2.9% and 4.0% respectively. Dividends totalling 5 cents / 5p were also paid. […]

Custodian REIT has announced that it has a 34,955 square foot retail warehouse in Banbury, currently let to B&Q, for £6.525m. The warehouse is located one mile from junction 11 of the M40 and within walking distance of the town centre and railway station. Nearby occupiers include Wickes, Halfords, Homebase, Dunelm Mill, Topps Tiles and […]

Amedeo Air Four Plus Limited, via its wholly-owned subsidiary AA4P Epsilon Limited, on 19 February 2016 purchased directly from Airbus one A380 aircraft bearing manufacturer’s serial number 206 at a net cost to the Company of US$275 million.  The Aircraft is the Fifth Asset to be acquired by the Company. Following acquisition of the Aircraft, AA4P Epsilon […]

The Board of Ecofin Power & Water Opportunities has announced that the continuation vote referred to in the Chairman’s statement in the company’s annual report will take place at a General Meeting expected to be held on Tuesday, 14 June, 2016. As explained in the Chairman’s statement in the annual report, the Board is currently considering […]

CATCo Reinsurance Opportunities Fund has published its Annual Report. For the year ended 31 December 2015, it achieved a net NAV return for shareholders of 11.58%, exceeding the target annual net return of LIBOR plus 9 to 12% per annum. CATCo also outperformed the industry benchmark, the Eurekahedge ILS Advisors Index, by 7.31%. They say […]

  BlueCrest Capital Management Limited has made a statement which we reproduce below: “CDS Settlement  Dear Investor,  We are writing to inform you of a positive development that we believe will affect the BlueCrest managed funds listed below.  As you may have read in the press, there has been a recent settlement of a U.S. […]

Dunedin Enterprise Investment Trust says its largest investment, CitySprint, has been realised with a portion of the proceeds being rolled over into a new company (“New CitySprint”). The realisation of CitySprint values the company at £175m and generates proceeds of £26.1m for Dunedin Enterprise. This compares to a valuation at 30 September 2015 of £23.2m. […]

M&G High Income says, on a net asset value basis, each Package Unit  delivered a negative total return of 3.6% over the  six months to 30 November 2015. This was above the  returns of the FTSE 350 Higher Yield Index and the FTSE All-Share Index, which were a negative 9.4% and  6.4% respectively over the same period. Over the six months […]

Brunner says that over the course of 2015, on a total return basis, its NAV increased by 1.7%, slightly underperforming its benchmark which returned 1.8%. The total dividend payment for 2015 was 15.3p, an increase of 2.0% on last year. There was no report from the managers in the announcement but, looking at the full annual […]

Aureus Mining has improved performance and production at its New Liberty gold mine, in Liberia, in the first few weeks of 2016 after raising recovery levels towards design levels. Total gold production since 1 January 2016 is 11.0 koz, versus 17.2 koz produced from the official opening of the mine in August 2015 to the […]

SQN Asset Finance Income paid dividends totalling 6.26p during the second half of 2015 while its NAV edged off a little, falling from 99.93p to 99.84p. The share price rose by a quarter of a penny to 108p. the weighted average yield of the portfolio remains above 9.5% and the average term of their leases […]

Standard Life UK Smaller Companies’ diluted net asset value total return was 15.2% for the six months ended 31 December 2015. This compares with a total return of -1.0% for the Company’s benchmark, the Numis Smaller Companies Index (excluding Investment Companies). The Board say the outperformance is remarkable given stock markets have proved challenging over the period. The […]

Genesis Emerging says, over the second half of 2015, the Fund’s net asset value per share declined from 572p to 514p, a loss of 10.1%. The Fund’s share price also fell by 10.1% during the period with the discount ending 2015 at 11.9%. Although this result was slightly ahead of the Index, both the Board and the […]

Greencoat UK Wind has announced its annual results for the year ended 31 December 2015. During the period, the company’s NAV per share grew by 0.48% to 104.5p but, including dividend (6.26p) the company has provided an NAV total return of 6.6%. During the year, portfolio power generation was 8% above budget at 799.3GWh (the […]

Hibernia REIT has announced that it has exchanged contracts to acquire Central Quay, a modern office building located between Sir John Rogerson’s Quay and Hanover Quay in the South Docks area of Dublin, for €51.3m. Central Quay (pictured), was completed in 2007 and is a 57,700 square foot office building, arranged over six floors, with 26 […]

The Board of JPMorgan Senior Secured Loan has considered the future prospects of the Company, particularly in light of the commitment under its Articles of Incorporation to make a redemption offer for 50 per cent. of its shares, triggered by the Company’s shares trading at an average discount in excess of five per cent during […]

SEGRO has announced its annual results for the year ended 31 December 2015. The company describes the year as one of strong operating and portfolio performance and they say the results reflect the active management of their assets, positive market dynamics and the strategic repositioning of the company’s portfolio, which is now almost exclusively focused […]

Strategic Equity Capital’s interim figures, covering the six months ended 31 December 2015, show the NAV per share and the NAV total return per share decreased by 2.3% and 2.0% respectively. The Chairman’s statement says that aside from the exceptionally disappointing returns from one investment, Tribal Group, the vast majority of the remaining portfolio performed […]

Sanditon Investment Trust says the second half of 2015 was a disappointing period for the fund with the net asset value closing at 99.3p which, after including the 0.45p maiden dividend paid to shareholders in December, amounted to a loss of 3.25% over the period. The share price closed the year at 107.4p, up 0.8% […]

SEGRO has announced that it has entered into an exclusive partnership with Roxhill to potentially develop more than 10 million square feet of big box logistics warehousing, over 10 years, in the South East and Midlands. This will allow SEGRO to add significant scale to its UK big box logistics portfolio. SEGRO says that Roxhill is […]

Redefine International has announced the completion of the Placing, which has raised gross proceeds of approximately £115m (net proceeds approximately £109m). A total of 270,588,236 new Ordinary Shares are being issued under the placing. These shares, in aggregate, represent approximately 15.32% of the company’s issued ordinary share capital immediately following admission of the shares. The […]

Schroder European Real Estate announced yesterday that contracts have been exchanged for the purchase of two office buildings located in Germany’s leading office markets Stuttgart and Hamburg, for a total of EUR28.9 million at a blended net initial yield of 6.0%. The assets are fully income producing and multi-let to a combination of governmental and […]

Herald Investment Trust has announced its annual results for the year ended 31 December 2015. During the period, the company’s NAV grew by 8.4% to 881.8p per share, whilst its share price grew by 13.1% to 745.3p reflecting a narrowing of the discount from 19.0% to 15.5%. Both the share price and the NAV beat […]