HgCapital, the Manager of HgCapital Trust has made an investment in Mitratech, a leading global provider of legal, risk and compliance software serving multinationals and SMEs across Europe and the US. HgCapital will be the lead investor in the new transaction structure, alongside TA Associates and the management team at Mitratech. The terms of this […]
Martin Currie Asia Unconstrained says that the differentiated investment approach, adopted in August 2014, has translated into much improved recent performance but this has not been reflected in a narrowing of its discount. Following feedback from shareholders, the board is initiating a policy of increasing the yield on the shares by introducing a distribution from capital to […]
Over the course of 2016, Jupiter Dividend & Growth’s portfolio returned 3.7%, well behind the 12.5% return delivered by the All-Share Index, its benchmark. The portfolio struggled in part because it was positioned for a “remain” vote in the referendum. The fund is a split capital trust with gearing provided by a zero dividend preference […]
Over the course of 2016, Blue Capital Global Reinsurance produced a total return on NAV of 8.3%, ahead of its 8% per annum target. As at 31 December 2016, they had net assets of $226.9 million compared to $223.3 million at the beginning of the year. During the year, they earned $17.2 million of which […]
EPE Special Opportunities says its NAV at 31 January 2017 was 364.13 pence per share, an increase of 127.6% on the NAV per share of 160.00 pence as at 31 January 2016. The share price at 31 January 2017 was 268.50 pence, representing an increase of 115.7% on the share price of 124.50 pence as at 31 […]
Alliance Trust has confirmed the appointment of Willis Towers Watson (WTW) to manage the Trust’s equity portfolio1, effective from 1 April 2017. As previously announced, WTW has, on behalf of the Trust, selected eight equity managers and the transition to these managers will be completed before the Trust’s AGM. Alliance Trust has also completed the […]
Baker Steel Resources Trust Limited says its 64% owned investment Polar Acquisition Limited (PAL) has agreed to issue a new zero coupon US$4.75 million convertible loan to discretionary clients of Sprott Inc (a Toronto listed fund management company well known for its expertise in natural resources investment and its interest in silver). The proceeds of the convertible […]
Industrial Multi Property has entered into a new unsecured loan facility agreement on 30 March 2017 under which Hansteen Holdings plc will provide an unsecured loan facility of up to GBP11,500,000 to the company, with an interest rate of 10% per annum. The term of the Hansteen Loan Facility expires on 5 December 2018 and […]
Civitas Social Housing has completed the purchase of a portfolio of regulated social housing for a total consideration of £17 million, comprising the freehold interest in 16 supported living properties, with 92 tenancies, across the south of England. The portfolio is immediately income generating with an initial net yield of 6.0%, based on the purchase […]
Starwood European Real Estate Finance Limited has committed to three new loans for a total of EUR133.35 million. Irish School, Dublin: On 31 March 2017 the Group advanced an EUR18.85 million 3 year floating rate whole loan to support the acquisition and repositioning of a South Dublin office building in the Republic of Ireland. The […]
HICL Infrastructure Company has announced the completion of an incremental investment of GBP7.5m in the Medium Support Helicopter Aircrew Training Facility project. HICL has invested GBP7.5m by way of an RPI-linked note to fund an upgrade in the visual systems in the simulators, keeping the facility at the leading edge of technology and capability. The […]
Juridica Investments has announced its results for the year ended 31 December 2016. During the year, the company’s NAV fell by US$0.8891 to US$0.2541 (a reduction of 77.78%). Dividends paid to investors during 2016 totalled 40 pence per share (bringing total life-to-date dividends to £1.036 per share). 2016 saw a total comprehensive loss of US$37.8 […]
Reconstruction Capital II has announced that it has conditionally disposed of 1) its 93% interest in Top Factoring SRL, a Romanian receivables collection company, and 2) the whole of the non-performing loan book held by the Company’s wholly owned subsidiary Glasro Holdings Limited (Glasro). Together these comprise the Top Factoring Group. The purchaser is Intrum […]
The Board of Better Capital PCC Limited was informed today by the General Partner of BECAP12 Fund LP that it has disposed of its debt instruments in BECAP Jaeger (UK) Limited. Confidentiality undertakings prevent any further disclosure of the identity of the buyer. The 2012 Fund expects to receive net funds of approximately GBP7m/ 2.2 pence […]
Epiris has completed the sale of Audiotonix, a leading manufacturer of audio mixing consoles, to Astorg, a leading European private equity firm, having achieved the necessary regulatory approvals. Electra Private Equity has received proceeds from the sale of GBP203 million, an uplift of GBP62 million or 44% and equivalent to an increase in its NAV […]
Dunedin Income Growth, which has just announced results for the year ended 31 January 2017, says that its NAV return for the year was 19.2%, just behind the All-Share Index which returned 20.1%. Shareholders suffered from a widening discount however, leaving the with a return of 16.5%. The revenue return per share for the year […]
Standard Life Investments Property Income Trust has completed the purchase of a multi let industrial scheme in Feeder Road, Bristol for GBP5.27m. The 8 unit scheme is fully let to 7 tenants and provides the opportunity for asset management through lease regears and renewals over the next three years. Jason Baggaley, Fund Manager, commented that “This […]
MedicX Fund Limited has contracted to acquire two modern primary healthcare medical centres in Walsall and Birmingham from a private investor advised by investment manager Longmead Capital LLP. The property in Walsall is let in its entirety to NHS Property Services and the property in Birmingham is let to a GP practice, Birmingham and Solihull […]
Amedeo Air Four Plus is proposing to acquire four Airbus A350-XWB aircraft for leasing to Thai Airways. The rental income from these will be paid in US dollars. The new acquisitions are intended to allow them to maintain the target dividend yield of 8.25 pence per share. The new deals will be structured similarly to the old ones. Three of the new […]
Epiris has announced that it has agreed the sale of Treetops Nurseries, the UK’s fourth largest nursery education operator, to Busy Bees. The transaction is anticipated to close in April. Electra Private Equity is expected to receive proceeds from the sale of GBP93 million, an uplift of GBP44 million or 91% and equivalent to an increase in […]
International Public Partnerships reports that, for the year ended 31 December 2016, it delivered overall NAV growth of 24.3% to GBP1.6 billion (partly on the back of a £200m fund raise during the year). NAV per share growth was 9.2% to 142.2 pence (2015: 130.2 pence). Its IFRS profits before tax rose by 119.4% to GBP175.3 million (2015: GBP79.9 […]
Aberdeen Asian Income Fund reports that its NAV rose by 29.9% over the course of 2016, outpacing the 27.7% rise in the MSCI All Country Asia Pacific ex-Japan Index (total return basis). The share price rose by 28.4% on a total return basis to 194.3p, while the discount widened slightly, notwithstanding significant buy-back activity, from 6.8% […]
BlackRock Emerging Europe beat its benchmark by 6.4% in US dollar terms over the year to 31 January 2017. The net asset value per share increased by 38.2% in US Dollar terms (55.8% in Sterling terms) which compared favourably with the MSCI Emerging Europe 10-40 Index return of 31.8% in US Dollar terms (48.6% in Sterling terms). […]
India Capital Growth reports that the Net Asset Value of the fund rose by 20.4% in sterling terms over the course of 2016, though adjusting for the dilution caused by the exercise of the Subscription Shares, the rebased NAV was up 28.5%, in line with the Mid Cap Total Return Index, which was up 28.8%. Within […]
Clive Nicholson, chairman of City Merchants High Yield, says it continued to perform well in 2016 despite persistent volatility in bond markets and the increasing difficulty of sourcing quality high yield paper. For the year ended 31 December 2016, the NAV total return was +11.8% which compares very favourably with +7.1% for the Investment Association Sterling […]
Henderson High Income, which is in the throes of a merger with UK Select Trust, has announced results for the year ended 31 December 2016. The benchmark, which is a composite of 80% of the All-Share Index (total return) and 20% of the Merrill Lynch Sterling Non-Gilts Index, returned 15.5% for the year but Henderson High Income […]
Volta Finance Limited has announced a change in the Directors’ remuneration following a detailed external review carried out by Trust Associates. At a meeting on 28 March 2017, upon the recommendation of the Remuneration Committee the Board adopted Trust Associates’ recommendations in full, backdated to 1 February 2017, noting that the purpose of the changes […]
BBGI has announced results for the year ended 31 December 2016. Its VAV rose by 13.1% to 126.1p over the period. Dividends totalled 6.25p. 61% of the company’s assets are located outside the UK and denominated in major currencies other than sterling. Currency weakness was a big factor in the NAV move. The portfolio of […]
Custodian REIT has sold a 25,724 sq ft car dealership on Mallory Road, Peterborough for GBP2.75 million, GBP0.345 million ahead of the 31 December 2016 valuation. The property is let to Marshall Motor Group Limited on a lease expiring in 2019. The property was purchased shortly after the company’s admission to the London Stock Exchange. They […]
On 9 March 2017, Fair Oaks Income Fund announced proposals which included a chance for shareholders to extend the duration of their investment in the company and also a further equity raise. 47,428,202 shares have been elected for re-designation as 2014 Shares, representing 15.3% of the shares currently in issue. Consequently, 263,510,368 shares will be re-designated as 2017 […]
