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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).

13 Mar 2015

Investment trusts over 20 years

New research has revealed which investment trust sectors have delivered most for investors over the past 20 years and which have left them short changed. http://www.portfolio-adviser.com/news/product-news/top-investments-trusts-of-last-20-years-revealed

13 Mar 2015

Alpha Pyrenees edges closer to negative net assets

Alpha Pyrenees has published results for the year that ended on 31 December 2014. The fund’s net asset value has been declining in recent years – falling from 28.5p at the end of June 2013 to 22.8p at 31 December 2013 to 12p at 30 June 2014 and finally 6p at 31 December 2014. The […]

Sectors
13 Mar 2015

Oil price fall hurts Canadian and General

For the year to the end of December 2014, Canadian and General’s net asset value per share total return was 8.4% and the return to shareholders was 13.3%. By comparison, the total return of its benchmark, the S&P/TSX Composite Index, was 10.6% during the same period. During 2014, CGI paid two regular quarterly taxable dividends that aggregated to $0.24 per common […]

Sectors
13 Mar 2015

Japan Residential hints at planned reforms

Japan Residential Investment Company has published results for the year ended 30 November 2014 that show its net asset value fell by 2.6p to 56.1p. This fall was entirely down to the weakness of the yen against sterling. in yen terms the net asset value rose by 5.7% over the year. The dividend for the […]

Sectors
13 Mar 2015

Shin Nippon suffers as discount widens

Baillie Gifford Shin Nippon has published results for the year ended 31 January 2015. The company’s net asset value return lagged that of the MSCI Japan Small Cap Index by 1.5% over the year, returning 11.7% against the Index’s 13.2%. Shareholders suffered as the company’s shares went from a premium to a discount of 6.6% – […]

Sectors
12 Mar 2015

NextEnergy Solar expands Bilsham and adds another plant

NextEnergy Solar is paying £3.2m to expand its existing plant at Bilsham by 2.6MWp and up to a further £22.9m to acquire 21.2MWp Langenhoe solar power plant in Essex which is being constructed under an Engineering, Procurement and Construction contract negotiated by NESF’s investment adviser, NextEnergy Capital Limited. Langenhoe was connected to the grid on 4 March 2015. Langenhoe will […]

12 Mar 2015

HICL adds to schools exposure again

HICL Infrastructure has announced the acquisition of three stakes in BSF (Building Schools for the Future) projects – the predecessors of the PF2 type deals announced yesterday. The stakes it’s buying are a n40% interest in the Salford & Wigan Phase 1 BSF([1]) Project, a 40% interest in the Salford & Wigan Phase 2 BSF […]

11 Mar 2015

NB Private Equity has profitable and transformational year

NB Private Equity has announced results for the year ended 31 December 2014 and an estimated net asset value for 28 February 2015. The total return on net asset value over the course of 2014 was 16.2%. The discount narrowed and this propelled the total return to shareholders up to 26.9%. They say strong performance […]

11 Mar 2015

HICL and INPP invest in schools

International Public Partnerships is investing c£8m and HICL Infrastructure is investing £7.2m to take equity stakes (45% in HICL’s case) in a £103m project -the Priority Schools Building Programme (“PSBP”) North East Batch Project. The national PSBP has been set up to address the needs of the schools most in need of urgent repair and will build or […]

11 Mar 2015

Witan outperforms again

Witan’s results for the year ended 31 December 2014 show them generating a return on net assets of 6.6%, 1.1% ahead of their benchmark (a composite of four different regional FTSE All-World Indices) and well ahead of the 1.2% return on the FTSE All-Share Index. The share price total return was 15.1%, enhanced by the move […]

Sectors
10 Mar 2015

Updata and wesupply drive NAV growth at LMS Capital

LMS Capital is continuing the process of realising its portfolio and handing back the proceeds to shareholders. Its net asset value rose from 88p to 93p over the course of 2014. They handed back £40m to shareholders by way of a tender offer. They made sales totalling £45.9m, £31.8m of this came from the sale […]

10 Mar 2015

Invesco Perpetual UK Smaller to embrace income focus

Invesco Perpetual UK Smaller Companies, which has long been plagued by a wide discount, is to switch focus to become an income fund. The Board, chaired by Ian Barby (pictured), consulted holders of more than 50% of the shares before making this proposal. The first element of this switch is a more than doubling of the dividend […]

Sectors
10 Mar 2015

Murray International results don’t explain underperformance

Murray International’s results for the year ended 31 December 2014 have been published. Over the year the total return on net assets was 3% and the return to shareholders was 1.7%, unfortunately both these figures were behind the 7.5% return on the company’s benchmark (40% of the FTSE World UK Index and 60% of the […]

Sectors
10 Mar 2015

Empiric continues spending spree with Aberdeen buy

Empiric Student Property has acquired a student accommodation development in Aberdeen: Spital Court Studios. The deal is to buy the freehold of a forward funded development in Aberdeen currently being developed into purpose-built student accommodation by local developer, Scape Homes. The site is located on the corner of St Peter Street and St Peter Lane, within half a mile […]

Sectors
10 Mar 2015

SEGRO sells Milan office park for €119m

SEGRO has sold Energy Park, its recently completed office development outside Milan to Hines Italia SGR for €118.7m. This price is 5% more than their value at the end of December 2014 and works out at a 7.3% initial yield. Energy Park is a fully-let, 61,400 sqm suburban office park built by SEGRO and completed […]

09 Mar 2015

JPMorgan Claverhouse appoints Board Apprentice

JPMorgan Claverhouse beat the FTSE All-Share index over 2014 by a narrow margin – delivering a total return on net assets of 2.1% vs. the Index’s 1.2%. The return to shareholders was 4% however as the fund’s discount narrowed from 3.4% to 5.4%. The total dividend for the year was upped from 19.5p to 20.0p. […]

Sectors
09 Mar 2015

Empiric buys the Ballet School in Glasgow

Empiric Student Property’s acquisition spree continues with the £11.92m purchase of the Ballet School in Glasgow. The Ballet School is a conversion of the listed former home of the Scottish Ballet, on Willowbank Crescent, comprising 103 self-contained studios of various sizes, which was completed in 2013.  The property has been bought from the developer, CCG (Scotland) […]

Sectors
09 Mar 2015

Marwyn makes investment in Zegona Communications

Marwyn Value Investors has made a new investment today into Zegona Communications. They are paying £12m (about 6% of MVI’s NAV) for a 40% stake in the company. Zegona is listing on AIM. It will be run by two ex Virgin Media executives, Eamonn O’Hare (Chairman and CEO) and Robert Samuelson (COO). Eamonn was Chief Financial Officer […]

Sectors
09 Mar 2015

Hg Capital boosted by Visma sale

Hg Capital’s results for 2014 show a 12.8% return on net assets and a 9.6% return on share price – well ahead of the 1.2% return on the FTSE All-Share Index. the final dividend is being increased from 29p to 32p to take the full year dividend to 51p (including a 19p special dividend). £83m […]

09 Mar 2015

2014 was a good year for Hansteen

Hansteen’s results for the year ended 31 December 2014 show a 12.1% increase in its EPRA Net asset value and a 4% increase in its EPRA earnings per share. They have increased the full year dividend from 4.8p to 5p and, in addition, are paying a special dividend of 3p per share. This brings the […]

Sectors
06 Mar 2015

European Assets boosted by takeover activity

European Assets’ results for the year ended 31 December 2014 show that the fund had a great year. the net asset value total return was 7.7%, the share price return was 8.8% and the dividend was increased by 8.5% in Euro terms, on top of a 27% increase in 2013. By contrast the return on the […]

Sectors
06 Mar 2015

Alliance Trust lags MSCI World by 3% but still 2nd quartile

Alliance Trust’s results for 2014 show its net asset value rising by 5.8%. the annual dividend was increased to 12.438p, 14.3% up year on year, and this helped push the fund’s total return on net assets to 8.1%. The share price return was 9%. Unfortunately this is somewhat behind the 11.2% return generated on the […]

Sectors
06 Mar 2015

Athelney Trust delivers positive performance in a difficult market

Athelney Trust’s results for the year ended 31 December 2014 show its net asset value rising by 4% to 228p. The dividend is being increased by 21.8% from 5.5p to 6.7p. The total return was 6.5% – ahead of the 6.2% return on the Fledgling Index and well ahead of the -1.5% return on the […]

Sectors
06 Mar 2015

Industrial Multi Property NAV edges up on improved occupancy

Industrial Multi Property Trust’s results for the year ended 31 December 2014 show its net asset value (on an adjusted basis) increasing from 207p to 220p (the unadjusted net asset value rose from 206.8p to 210.3p). They aren’t paying a dividend. Industrial Multi Property Trust has fifty-three multi let properties (split roughly 85% industrial and […]

06 Mar 2015

Picton snaps up Gloucester Retail Park

Picton Property is paying £14.65m for a retail park in Gloucester. Gloucester Retail Park, on Eastern Avenue, has four units totalling 112,000 sq ft of space let to B&M Bargains, Carpetright, The Range and AHF with a weighted average lease life of 13.2 years. It generates rents of £1.067m, equivalent to a rent per sq […]

05 Mar 2015

Bias to growth hurts Allianz Technology

Allianz Technology Trust failed to match the return on its benchmark, the Dow Jones World Technology Index, over the year to the end of November 2014. Over the year the fund delivered a return of 18% vs. the Index’s 27.3%. To compound the problem, the discount widened from 0.45 to 5.8% and so the return to […]

Sectors
05 Mar 2015

UK Commercial Property life extension and discount control

UK Commercial Property has two debt facilities. One of £80m, provided by Lloyds Bank, expires in June 2015 and the other of £150m, Provided by Barclays Bank, expires in May 2018. the company wants to refinance the Lloyds loan and has found a new lender that is prepared to lend it money for 12 years. Interest is […]

Companies
05 Mar 2015

Over half of Pacific Horizon invested in Technology stocks

Over the six months ended 31 January 2015, Pacific Horizon’s net asset value per share rose 7.9% to 216.74p. The share price rose 12.5% and the discount narrowed from 11.5% to 7.7%. Over the same period the MSCI All Country Asia ex Japan Index rose 8.5% in sterling terms. The manager has been increasing the […]

Sectors
04 Mar 2015

Aberdeen Smaller Cos High income hit by widening discount

Aberdeen Smaller Companies High Income has announced results for the year ended 31 December 2014. The total return on net assets for the period was -2.1% which compares favourably to the return on the FTSE Smaller companies Index of -2.7%. However the return to shareholders was -14.9%, reflecting a widening of ASCH’s discount from 5.7% […]

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