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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).

07 Aug 2023
230807 hgen

HydrogenOne reports over 100% growth in its underlying revenues

HydrogenOne Capital Growth (HGEN) has just completed its Q2 investors’ update, in advance of its forthcoming interim results. The general tone of the update is one of positivity, as HGEN’s holdings begin to deliver strong revenue growth as the trust starts to mature. HGEN generated a NAV growth of 4% year on year, and 0.4% […]

Sectors
07 Aug 2023
blue sky, an unpainted picket fence and a sunflower 230614 AERI sunny days

Aquila European Renewables NAV reflects lower prices

Aquila European Renewables published its end June factsheet this morning and has announced a fall in its NAV from 110.1 cents at 31 March to 104.1 cents. The main drivers of this fall were beyond its control. Chief of them was a decline in the power price assumptions which is attributed to lower commodity prices […]

07 Aug 2023
US Solar Fund

US Solar provides a half-year update

Ahead of its interim results, due out next month, US Solar Fund (USF) has provided a brief update on its 6-month market outlook. In general, the USF team highlights the resilience of the portfolio over the first 6 months of 2023. USF’s discount rate remains at 4.1%, as it is based on the 20 year […]

Sectors
04 Aug 2023
a green shoot emerging from a charred landscape

QD view – the future of growth investing

In the second of our QD views trailing our upcoming investment companies forum, James Carthew sets the scene for our ‘future of growth investing‘ panel. At the end of 2021, most growth-focused funds were sitting at or close to all-time highs, but the start of 2022 saw a savage rotation away from growth towards value. […]

Sectors
Companies
04 Aug 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 4th August 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • ThomasLloyd Energy Impact (0.38) • BioPharma Credit (6:44) Andrew McHattie spoke about Trixtax Big Box REIT & HydrogenOne (10:31). This week’s interview was with […]

Sectors
04 Aug 2023
picture of a hard copy of the bluffer's guide to hydrogen

The Bluffer’s Guide to Hydrogen

Do you know your blue hydrogen from your green hydrogen? Did you know that there are over 1,000 clean hydrogen projects on the drawing board today? Or that collectively 39 countries have allocated over $70bn of funding to hydrogen projects? Did you know that before we had access to natural gas, 20% of the gas […]

04 Aug 2023
a logo for MIGO Opportunities Trust

MIGO feels the pinch of widening trust discounts

MIGO Opportunities Trust (MIGO) has announced its annual results for the year ended 30 April 2023. Over the 12 month period MIGO generated a NAV total return of -9.3% and a share price total return of -10.3%. This compared to the trust’s benchmark, SONIA plus 2%, which returned 4.6%. Some notable contributors to MIGO’s performance […]

Sectors
04 Aug 2023

QuotedData’s morning briefing 4 August 2023 – SBO, HOME, MNTN

In QuotedData’s morning briefing for 04 August 2023: Schroder British Opportunities (SBO) has announced that one of its private equity investments, Rapyd, has acquired PayU Global Payment Organisation from Prosus, for $610m, subject to regulatory approval. Rapyd is a leading global Fintech-as-a-Service provider, while PayU is a payment solutions provider to both enterprise and SMB […]

Companies
04 Aug 2023
Scottish Mortgage climeworks thumbnail

Scottish Mortgage stock stories: Climeworks

What if it were possible to capture CO2 directly from the air and lock it away permanently? Scottish Mortgage holding, Climeworks wants to inspire 1 billion people to remove CO2 from the air to help tackle legacy and unavoidable carbon emissions. “Climeworks is the first direct air capture company to deliver third-party certified carbon dioxide […]

03 Aug 2023
picture of a wind farm on what looks like mudflats

Modest hit to JLEN Environmental NAV from rising discount rates

JLEN Environmental Assets says that its unaudited NAV at 30 June 2023 was £801.4m or 121.1p per share. This is a decrease of 2.0p per share since 31 March 2023, after paying the quarterly dividend of 1.8 per share. What drove the change? Power and gas price fixes secured above previous valuation assumptions (+0.4p); higher […]

03 Aug 2023

Ediston Property in discussions to sell portfolio

Ediston Property Investment Company (EPIC) is in advanced discussions with a third party buyer over the possible sale of the company’s property portfolio. As part of its strategic review into the future of the company, announced in March, the board today says that it has entered negotiations over the sale of the group’s retail park […]

Sectors
03 Aug 2023
pantheon's logo against a view of the tops of skyscrapers from the ground

Pantheon International wades into discount battle

Pantheon International has published results for the 12 months ended 31 May 2023 and in NAV terms it was good to see a positive return of 2.4% for the year, although this lagged the 4.3% return on the MSCI World Index. In share price terms, it is a different story as the discount widened further […]

03 Aug 2023
picture of Neil Hermon, manager of Henderson Smaller Companies

Henderson Smallers becomes latest dividend hero but adverse growth sentiment weighs on returns

Henderson Smaller Companies has announced results for the 12 months ended 31 May 2023. This was a year of underperformance, as the NAV total return came in at -13.8% versus -6.5% for the company’s benchmark – the Numis Smaller Companies Index (excluding investment companies). The discount actually narrowed a little – from 14.6% to 13.2% […]

03 Aug 2023
pictures of Alisa Craig and Marek Poszepczynski alongside the Schroder logo

Schroders takes on International Biotechnology

International Biotechnology Trust has decided to appoint Schroder Unit Trusts Limited as its fund manager and AIFM. Shareholders had told the board that they wanted continuity of the company’s investment approach under the existing investment management team and to retain the dividend policy. Ailsa Craig and Marek Poszepczynski (who have been lead managers on the […]

Sectors
03 Aug 2023

QuotedData’s morning briefing 3 August 2023 – BBOX, PSDL, RESI

QuotedData’s morning briefing 3 August 2023: Tritax Big Box REIT (BBOX) posted a 1.5% uplift in EPRA net tangible assets (NTA) to 183.02p per share in the six months to 30 June 2023. Its portfolio valuation was stable at £5.05bn, while adjusted earnings were up 5.6% to 3.94p per share. This covered its dividend for […]

Companies
02 Aug 2023

RIII is off to a strong start under Jupiter’s management

Rights and Issues Investment Trust (RIII) has released its half year results for the six month period ending 30 June. This is the first set of results to cover RIII’s performance under the management of Jupiter Asset Management. Over the six months RIII generated a NAV total return of 3.5% and share price total return […]

Sectors
02 Aug 2023
IVPB/IVPG/IVPM/IVPU:

Invesco Select’s results tells a mixed story

Invesco Select has published its annual report for the period ending 31 May 2023. As a reminder, Invesco select has four different share classes, UK Equity Shares, Global Equity Income Shares, Balanced Risk Allocation Shares and Managed Liquidity Shares, each of which has its own separate portfolio of assets and attributable liabilities. UK Equity Income […]

Companies
02 Aug 2023
a paper, a criossant and a mug of something 230601 morning 3

QuotedData’s morning briefing 2 August 2023

QuotedData’s morning briefing 2 August 2023 Alternative Income REIT (AIRE) has posted a 0.7% increase in NAV to 84.2p for the quarter to 30 June 2023, following a 0.3% rise in the value of its portfolio to £107.0m. EPRA earnings were up 8.2% to 1.7p per share, and the board declared a quarterly dividend of […]

Companies
01 Aug 2023
230210 QD view - Bonds BIPS NCYF

CT Global Managed Portfolio struggles with rising discounts

CT Global Managed Portfolio (CMPG) released its annual results for the year ended 31 May 2023. NAV total return was  -7.4% for the financial year, underperforming the total return of the FTSE All-Share Index of +0.4% by -7.8% points. Share price total return was -2.1%.  The company increased its annual dividend by 8.3% to 7.20p […]

Sectors
01 Aug 2023

Tech underweight weighs on returns for RIT Capital Partners

RIT Capital Partners (RCP) announced its results for the half year ended 30 June 2023. NAV total return for the period was -0.2% while shares fell 4% over the same period and now trade at a discount of 21%. This compares to the MSCI ACWI which was up 11.0% and CPI plus 3% at 5.5%. […]

Sectors
01 Aug 2023
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 1 August 2023

Third Point (TPOU) published an investor letter for Q2 with the company returning 1.1% in the flagship Offshore Fund during the second quarter of 2023, compared with the S&P 500 Index return of 8.7% and the MSCI World Index return of 7.0% in the same period. The top five positive contributors for the quarter were […]

Companies
31 Jul 2023
an end of track sign at the end of a railway

ThomasLloyd Energy Impact board calls for vote AGAINST continuation

On 11 July 2023, ThomasLloyd Energy Impact received a requisition on behlf of ThomasLloyd Cleantech Infrastructure Fund SICAV and ThomasLloyd SICAV – Energy Impact Credit Fund. It asks that the three resolutions which were not voted on at the AGM on 30 June 2023, including the continuation vote, be put before shareholders. The company is […]

31 Jul 2023
Chrysalis investments logo in purple and green on a dark blue background

Chrysalis quarterly update extends NAV recovery

Chrysalis Investments says that as at 30 June 2023, its unaudited NAV was 136.86 pence. That represents a 6.84p per share or 5.3% increase since 31 March 2023. Movement in the fair value of the portfolio accounted for an uplift of approximately 9.28p, offset by an adverse foreign exchange movement of approximately 2.20p – as […]

Sectors
31 Jul 2023
REATA logo - a square of nine dots in grey and blue 230511 bpcr reata

BioPharma loan repaid on REATA bid

BioPharma Credit’s manager Pharmakon Advisors notes the announcement released Friday 28 July by Biogen Inc. regarding its definitive agreement to buy Reata Pharmaceuticals Inc. The purchase price equates to an enterprise value of approximately US$7.3bn. Biogen and Reata currently anticipate that this transaction will close in the fourth quarter of 2023.  On 11 May 2023, […]

Sectors
31 Jul 2023
the words octopus renewables infrastructure trust set against a blue sky with a wind turbine on the right hand side

Octopus Renewables backs UK solar and battery storage developer

Octopus Renewables Infrastructure has agreed to invest up to £2m to set up and fund a new development business, focused on creating new ground-mounted solar PV and co-located battery storage assets in the UK.  The trust will own 100% of the new company, which will benefit from exclusive development services from BLC Energy Limited (BLCe). […]

31 Jul 2023
a newspaper poking through a letterbox 230731 morning

QuotedData’s morning briefing 31 July 2023

In QuotedData’s morning briefing 31 July 2023: RM Infrastructure Income (RMII) says that, since its last update on 10 July 2023, the board has received an additional [merger] proposal under s110 of the Insolvency Act 1986 which is under consideration alongside one other proposal highlighted in the 10 July 2023 announcement, however at this time […]

Companies
28 Jul 2023
Forest,Road,Under,Sunset,Sunbeams.,Lane,Running,Through,The,Autumn

QD view – The new reality for renewables

In light of our upcoming investment trust forum on the 5th of October, I thought I would take this opportunity to look at one of our panel discussion topics. As the title suggests, it focuses on what the future might look like for renewable energy investments. The bulk of the exposure to this theme is […]

Companies
28 Jul 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 28th July 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • abrdn Smaller Companies Income/Shire (1:08) • Ecofin US Renewables (7:31) • Henderson Diversified Income (11:52) This week’s interview was with Uzo Ekwue & Pav […]

Sectors
Companies
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