Account
Sign Up Login Investor Type
Menu

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 Feb 2015

Throgmorton hit by widening discount

BlackRock Throgmorton has published results for the year ended 30 November 2014 that show the company’s net asset value return marginally behind that of the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index; the NAV returned -1.1%, the Index -0.6%. The share price return though was -5.7%, reflecting a widening of BlackRock Throgmorton’s discount. […]

Sectors
Companies
13 Feb 2015

Marwyn increases exposure to Le Chameau

Marwyn Value Investors has announced that the underlying fund that it invests in, Marwyn Value Investors LP, is increasing its stake in Marwyn Management Partners, the owner of Le Chameau. Established in 1927, Le Chameau is a French heritage footwear brand specialising in the production of bespoke, handmade rubber boots. Marwyn Value Investors LP has undertaken […]

Sectors
13 Feb 2015

Henderson Opportunities outperforms in a difficult year

Over the year to the end of October 2014 Henderson Opportunities net asset value total return was 3.4%, ahead of its peer group (the AIC UK All Companies Sector) which returned 0.6% and ahead of the FTSE All-Share index which returned 1%. The share price did even better, returning 9.3%. The manager’s report has a […]

Sectors
Companies
12 Feb 2015

Kennedy Wilson buys Dublin offices

Kennedy Wilson Europe Real Estate is effectively paying €45m to acquire Gardner House, Wilton Street, Dublin. They had exposure to this asset beforehand in the form of two loans secured by a mortgage over the property. They have agreed with the borrower that the fund will take title to the property in exchange for the forgiveness of […]

Sectors
12 Feb 2015

Standard Life Property raising cash to fund warehouse deal

Standard Life investments Property Income Trust intends to raise £16m from investors to fund the acquisition of a modern freehold retail warehouse property, located in Preston, for £16m (excluding costs). At the acquisition price, the warehouse generates a yield of 7% with 16 years remaining on the lease. It is located adjacent to a major foodstore and […]

11 Feb 2015

Ottoman Fund fraud update

Ottoman Fund has announced that BDO LLP has finished a forensic review of the books and records of Ottoman’s Turkish subsidiaries and has determined that the Company’s former Chief Financial Officer in Turkey has removed from the Company’s Turkish subsidiaries the net amount in Turkish Lira equivalent to US$1.35 million as of 10 February 2015 […]

Sectors
11 Feb 2015

New European Property 20% uplift in distribution

New European Property Investments has published its results for the year ended 31 December 2014. Over the period the net asset value rose from €3.56 to €4.52 and the adjusted net asset value, which adjusts for items such as goodwill and deferred tax, rose from €3.70 to €4.63. The directors have announced a 17.35 cent distribution […]

Sectors
11 Feb 2015

Electra announces results of review and cuts fees

Electra Private Equity has published the results of the review of the company’s structure that was promised after it defeated Sherborne’s proposals. The plan is to cut the management fee from 1.5% to 1%, leave the performance incentives intact and remove all the currency hedging – which will effectively reduce Electra’s cash pile and cut its […]

11 Feb 2015

Secure Property Development aiming to raise €10m

Secure Property Development & Investment is planning an issue of up to 29,719,890 new ordinary shares at 25p by way of an open offer to shareholders. The open offer shares are available on the basis of 1 new shares for every 1.14 existing shares held but shareholders can apply for more than that if they wish (up […]

Sectors
10 Feb 2015

NextEnergy Solar announces NAV and plans fund raise

NextEnergy Solar Fund says its net asset value at the end of January 2015 was 101p (£182.4m), up 0.7% on the level at the end of December 2014. previously announced acquisitions of Bilsham, Gover Farm and Brickyard completed during January 2015. The Company is currently targeting a final dividend of 2.625p per Ordinary Share for […]

10 Feb 2015

Alpha Pyrenees debt deadline extension

Alpha Pyrenees has announced that its main lender, Barclays, has agreed to extend the deadline for repaying its debt until 11 May 2015. The total outstanding is €271m. Alpha Pyrenees will pay 0.5% or €1.35m as a fee for the extension. The announcement says that the company is within its debt covenants as at 11 […]

Sectors
09 Feb 2015

Land Securities to build Westgate Oxford

Land Securities has announced that work will soon begin on its £440m joint venture development, alongside the Crown Estate, of Westgate Oxford. Preparatory works will begin imminently and construction is set to start in spring 2015. The new 800,000 sq. ft. (74,300 sq. m) retail and leisure scheme in the heart of Oxford city centre […]

Sectors
09 Feb 2015

JZ Capital buys National Inspection and Consultants

JZ Capital has announced the acquisition of National Inspection and Consultants, LLC (“NIC”). The final purchase price is still to be finalised but is expected to be between $9-10 million. JZCP owns 37.4% of the combined entity on a fully-diluted basis (alongside The Edgewater Funds). Headquartered in Fort Myers, Florida, NIC provides teams of experienced, […]

Geographies
  • North America
  • Europe (EU and EEA ex UK)
  • UK
Sectors
09 Feb 2015

Global Fixed Income Realisation writes down Vision Brazil assets

Global Fixed Income Realisation has announced that, at the end of December 2014, its net asset value was 50.25p. £1.4m of that was in cash. The fund holds three investments in funds managed by Vision Brazil where the primary underlying asset is undeveloped farm land in Brazil. They say “Over the last year, Gottex Asset […]

09 Feb 2015

Northern Investors sells Kerridge and will return cash

Northern Investors has announced the sale of its investment in Kerridge Commercial Systems Limited to the incumbent management team backed by private equity funds managed by Accel-KKR. Kerridge provides integrated business software solutions for the distributive trades. Northern Investors has received cash proceeds of £16.38m.  The directors’ valuation as at 30 September 2014 was £14.6m so the uplift is therefore […]

06 Feb 2015

Alasdair McKinnon confirmed as Scottish Inv Trust manager

The Board of Scottish Investment Trust has decided to make Alasdair McKinnon its investment manager. He has been doing the job on a temporary basis since John Kennedy stepped down in July last year. Alasdair has been working for the trust since 2003. SCIN : Alasdair McKinnon confirmed as Scottish Inv Trust manager

Geographies
  • UK
  • North America
  • Asia
  • Australia and New Zealand
  • Europe (EU and EEA ex UK)
Sectors
05 Feb 2015

UK Government selling Greencoat UK Wind

This morning the Department for Business, Innovation and Skills (“BIS”) announced its intention to place at least 40 million ordinary shares in Greencoat UK Wind at a price between 103p and 105p. Barclays, RBC Capital Markets and Winterflood aim to have the deal wrapped up by lunchtime tomorrow. Vince Cable (the minister) said: “The department invested in […]

05 Feb 2015

Elephant planning £1m buy-back

Elephant Capital has announced results for the year ended 31 August 2014. These are somewhat academic now but for the record the NAV then was 35p – up 2p from the previous August. The new news is that Elephant Capital will return £1m to shareholders via a buy-back programme starting on 9 March 2015. Elephant […]

04 Feb 2015

Empiric Student Property invests in Camberwell

Empiric Student Property has made its first acquisition in London with the purchase of a student accommodation block from Brandeaux Accommodation Funds for £13.25m. The announcement says the property, Liberty Fields in Camberwell, South London, is a high-quality conversion of an attractive building, which was part built in the 1930s and the 1970s and is part […]

Sectors
03 Feb 2015

Dexion announces 2014 exit payments

In May 2014 Dexion Absolute offered shareholders a chance to exit the company. 50.9% of the issued GBP Shares, 15.6% of the issued EUR Shares and 48.8% of the issued US$ Shares were redeemed. Shareholders that opted for redemption had to wait until now for the first tranche of their money (the balance will be payable in […]

03 Feb 2015

Widening discount hits Polar Capital Global Financials

Polar Capital Global Financials Trust has published its accounts for the year ended 30 November 2014. over that period the net asset value total return was 9.8%, a little behind the fund’s benchmark, MSCI World Financials Index, which returned 11%. Financials lagged the wider market, the MSCI World Index rose by 14.8%. To compound the […]

Geographies
  • North America
  • UK
  • Europe (EU and EEA ex UK)
02 Feb 2015

Fidelity European scraps performance fee

Humphrey van der Klugt, Chairman of Fidelity European Values PLC has announced that the Board has agreed with Fidelity that with effect from 1st January 2015 the investment management performance fee will be removed. He said this should mean a lower overall fee for shareholders, and a simple and transparent fee arrangement. The base fee (Annual Management […]

Sectors
02 Feb 2015

Change of manager for Carador

Carador Income Fund’s manager has changed. GSO / Blackstone Debt Funds Management LLC has announced the appointment of J. Richard (“Dik”) Blewitt as the Company’s new portfolio adviser following the resignation of Mark Moffat from GSO Blackstone.  Mr. Moffat will continue to advise the Company in a joint capacity with Mr. Blewitt for a 3 month hand over […]

02 Feb 2015

HICL sells Colchester Garrison stake

HICL Infrastructure has announced the sale of its 56% stake in Colchester Garrison for £108.3m. This is £21.7m more than HICL was valuing this investment as at 30 September 2014. This is the deal they were anticipating in the interim results published in November last year. The purchaser was subsidiaries of Allianz Group, the PPP […]

02 Feb 2015

JZ Capital buys property in Miami

JZ Capital Partners has announced three property deals this morning – two in Williamsburg to complement their existing portfolio and a third, their first property venture outside New York state, in Miami, Florida. The deals were done alongside its property joint venture partner, Red Sky Capital LLC, and comprise, in New York, 184-186 and 204-206 Bedford Avenue, […]

Geographies
  • North America
  • Europe (EU and EEA ex UK)
  • UK
Sectors
30 Jan 2015

Cambium hit by windstorm and weak Brazil

Cambium Global Timberland’s net asset value fell from 40p to 33p over the six months ended 31 October 2014. However since then a wind storm in Hawaii has damaged the Pahala plantation there and the fall in the Braziian Real and a weak Brazilian economy have impacted the valuation of their Brazilian assets (the bulk […]

30 Jan 2015

Invista European NAV still sliding

Invista European Real Estate has published its results for the year ended 30 September 2014. The net asset value fell again, from 15p to 12p, as property values fell and sales were struck at prices below last valuations. The property valuation fell from €325.6m to €281.8m (partly the result of sales but also a 7.39% […]

Sectors
30 Jan 2015

Aurora Russia sells Superstroy stake

Aurora Russia has announced the sale of its 24.3% stake in Superstroy for £680,000. This is quite a bit more than its valuation in Aurora Russia’s last accounts when it was valued at £280,000 but this is a company that Aurora Russia invested £16.6m into and it is supposed to be one of the leading […]

Sectors
More News

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…