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).
Lyxor Focus, the LSE listed fund of hedge funds, has announced details of an EGM, scheduled for 30 December 2014, in which shareholders will consider a resolution to wind up the company. Assuming the resolution passes, it is intended that Lyxor’s listing on the LSE will also be cancelled with effect of the close of the market […]
Summit Germany, the German commercial real estate company, has provided a trading update with a number of key developments. The first is that it has agreed terms to refinance €268m of its €309m debt facilities. This includes a new €240m, 7 year, 3.4% debt facility (the current loan is at 3.9%) which is expected to be in place by […]
Finsbury Growth & Income Trust, managed by Nick Train (pictured), has published its annual results for the year ended 30 September 3014, which confirm another year of outperformance relative to its FTSE All-Share Benchmark. FGT provided an NAV total return of 8.6%, comfortably ahead of the benchmark’s 6.1%. A second interim dividend of 6.2p has been […]
Promethean has announced that it will enter voluntary liquidation and its shares have been suspended from trading on AIM. Grant Thornton were appointed as liquidators. The proceeds will be returned to shareholders PTH : Another minnow disappearing
Tritax Big Box REIT has announced the acquisition of two more distribution centres – one at Dove Valley Park, Derby and the other at Trafford Park in Manchester for a combined price of £55.1m, equivalent to a blended net initial yield of 6.53%, assuming 5.8% purchase costs. Completion of both purchases is expected to take place by 12 […]
Standard Life European Private Equity Trust has published its results for the year that ended 30 September 2014. the total return on its net asset value for the year was 7.7%. They are paying a dividend of 5p per share and the Board have said they intend to try to at least maintain that level […]
Over the year to the end of October 2014 Scottish Investment Trust generated a return of 1% on net assets – in-line with the return on the FTSE All-Share Index over that period but well behind the 8.8% return posted by the FTSE All World Index (a large proportion of SCIN’s assets are invested overseas). […]
Foresight Solar is to buy Landmead, the UK’s largest solar farm. Located in East Hanney, Oxfordshire and currently under construction, this 46MWp farm is expected to be grid-connected later this month and so should qualify for a subsidy at a rate of 1.4 ROCs. With this deal, Foresight will now own farms capable of generating 213MWp […]
Globalworth Real Estate has announced that it is buying Nusco Tower for €46m and a parcel of land for €4m. The Tower deal won’t complete until Q2 2015. GWI : Globalworth buys Nusco Tower, a 20 storey office block on Gara Herastrau, the same street as Globalworth’s recent acquisition, Green Court Building A. Nusco Tower has circa […]
Blackstar Group is planning to buy 100% of Times Media Group and 22.9% of Kagiso Tiso Holdings in exchange for cash and shares in Blackstar. Following the completion of the transaction, Blackstar will change its name to “Tiso Blackstar group SE” Blackstar already owns 32.5% of Times Media Group. To buy the remainder Blackstar will […]
Ludgate Environmental has announced that it is writing off its investment in Eco Plastics. they says that there have been recent operational challenges at Eco Plastics and unfavourable market conditions. Unfortunately, this situation has not improved in recent months, and although they have been working with creditors to find a solvent solution, this is no longer […]
Global Resources Investment Trust has published its first set of accounts. these cover the period from launch to the end of August 2014. Over that period the net asset value fell by 28.5% and the share price fell by 66% to 34p. Since then the falls have worsened so that, at the date of producing […]
Starwood European Real Estate Finance, alongside other Starwood funds, made a £220m loan to Almacantar, a property investment and development company specialising in London. They now plan to increase the size of this loan to £265m with this fund providing £5m of this. Almacantar plan to use this to fund the refurbishment of Centre Point, […]
Majedie Investments final results for the year ended 30 September 2014 show the fund’s net asset value returning 10.8%. The dividend was cut from 10.5p to 7.5p. However the fund’s discount narrowed from 28.4% to 5.3% over the year and so the return to shareholders was much higher at 49.7% as the share price rose […]
Over the six months that ended on 31 October 2014, Polar Capital Technology beat the Dow Jones World Technology Index by 2.4% in a strong period for the sector – the Index was up 16.3% in sterling terms and the NAV up 18.7%. The share price rose by 19.2%. The manager says the most significant positive […]
Balfour Beatty has responded to the approach that John Laing Infrastructure Fund made for Balfour Beatty’s infrastructure assets. Balfour says the mooted £1bn price tag undervalues these assets – the Board “concluded that the proposal falls significantly short of its own view of the value of the portfolio” and therefore it has rejected the proposal. The […]
Altus Resource Gold held its AGM yesterday. the resolution that it continue as an investment company was rejected by shareholders 14.9m voting against to 13.4m voting for. The directors now have four months to come up with a plan for the future of the company which may result in it being liquidated. ARCL : Altus […]
JPMorgan Chinese has published its results covering the year to the end of September 2014. Over this period the return on net assets was 7.8% – 1% more than the return on the MSCI Golden Dragon Index. the fund’s rating improved and so the return to shareholders was 12% – this includes a 1.6p dividend […]
GRIO : Ground Rents Income has a plan to get fully invested Ground Rents Income Fund has announced results for the year ended 30 September 2014. Its net asset value rose from 97.2p to 104.3p over the period, in response to demand for the underlying assets driving up their values. They say “the ground rents […]
MNKS : Monks too light in US Monks has published its interim results covering the six month period to the end of October 2014. Over this time the fund generated a return on net assets of 4.9% and a return to shareholders of 5.3% – lagging the return on the FTSE World Index of 8.0% […]
NRR : NewRiver raising £75m to buy out joint venture partner NewRiver Retail is raising £75m via a placing of new shares to fund the acquisition of the 90% stake it doesn’t already own in the “NewRiver Retail Property Unit Trust” – the cost of which will be £71m. The underlying property portfolio comprises five shopping centres and […]
Source: http://www.moneymarketing.co.uk/news-and-analysis/analysis/the-alternative-plays-in-investment-trusts/2016533.article Income-seeking investors would do well to look at the alternative plays on offer in the investment companies space, such as renewable energy and asset leasing With interest rates held so low for so long, it is not surprising investors have been looking for alternative ways to generate income. That search is only set to […]
BRFI : Relatively poor year for BlackRock Frontiers BlackRock Frontier Markets generated a total return on net assets of 21.1% over the year to the end of September 2014 which is good in absolute terms, a lot better than the MSCI Emerging markets Index which returned 4.2% but well behind its benchmark, the MSCI Frontier […]
Empiric Student Property has announced it has made a further investment in Exeter. It is spending £4.5m to buy Dean Clarke Lofts, a 30 bed, loft-style student accommodation block. It is a conversion of a Grade 2 listed, Georgian building on Southernhay Gardens in Exeter. It was completed in August 2013 and comprises 30 beds […]
JGC : Whole Foods holds back Jupiter Green Jupiter Green’s net asset value total return was -2.0% over the six months to the end of September 2014, a little less than the MSCI World Small cap. Index which returned -1.6% and the FTSE ET100 Index which was flat. The shares moved from trading at a discount to […]
JLIF bidding for Balfour Beatty PPP assets John Laing infrastructure has announced that it is considering bidding for Balfour Beatty’s PPP portfolio (all the public private partnership / public finance initiative type deals that Balfour Beatty has on its balance sheet). JLIF is thinking about offering c£1bn in cash for these and would raise fresh […]
WWH : InterMune helps drive good Worldwide Healthcare result Worldwide Healthcare powered ahead over the six months ended 30 September as the net asset value delivered a total return of 16.8%. The rating stayed more or less the same so the return to shareholders was 16.2%. by contrast the benchmark index (MSCI World Health Care) returned 11.5% […]
MVI : Marwyn Value sells Breedon Aggregates Marwyn Value Investments has got cash equivalent to 3.7x their total investment in Breedon Aggregates – the stake was sold for £51.3m and MVI’s share of that is £43.5m. They first invested in the company as Marwyn Materials in 2008. The return works out as a IRR of […]
JETG / JETI : Mixed fortunes for the two JPMorgan European pools JPMorgan European Investment trust interim results announcement covering the six months that finished on 30 September 2014 has been published. For the growth portfolio (JETG) there was a negative return on net assets of 4.5% – an underperformance of its benchmark, the MSCI Europe ex […]
BBOX : Tritax raises £110m and spends £22m Tritax Big Box REIT has announced that it has raised £110m by placing 104.77m shares at 105p. It has also said that it has exchanged contracts on a Tesco retail distribution warehouse for which they are paying £22.45m, equivalent to a net initial yield of 8.25%. The […]
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