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).
CEB : CEB Resources benefits from Mariola sale The net asset value of CEB Resources rose from 0.329 cents per share to 0.454 cents per share over the six months that ended on 31 October 2014, an increase of 38.3%. The main driver for this was the realisation of an $851,000 profit on its holding in Carbon Investment […]
CLDN : Caledonia sitting on sizeable war chest Caledonia’s net asset value rose by 4.6% in total return terms over the half year to the end of September 2014. The interim dividend was increased from 13.4p to 13.8p. Caledonia, which organises its portfolio into a number of discrete pools, says that the growth came from the […]
NII : New India beats rising market New India Investment Trust reported a 21.5% total return on its net asset value over the six months ended 30 September 2014, ahead of the MSCI India Index which rose by 18.6%. The fund’s discount has narrowed noticeably as well from 14.6% at the start of the period to something […]
JESC : JPMorgan European Smaller Companies caught out by two IPOs JPMorgan European Smaller Companies results for the half year to the end of September 2014 have been published. The net asset value total return was a negative 16.6% – some 7.1% less than the return on the fund’s benchmark, the Euromoney Smaller European Companies […]
KIT : Pharma exposure helps Keystone post market-beating figures Keystone has published its annual results. these cover the year that ended on 30 September 2014. Over that period the fund’s net asset value total return was 12.5%. The share price though returned just 7.4% as the discount widened from 0.8% to 5.4%. Both measures outperformed […]
APEF : Aberdeen Private Equity benefits from internet exposure Aberdeen Private Equity Fund’s net asset value rose by 4.6p or 4.2% over the six months that ended 30 September 2014. Taken with the interim dividend of 2p, the total return on net assets was 6.1%. The strengthening US dollar contributed about 0.7p to this. A couple […]
TFIF : TwentyFour Income increases CLO exposure as spreads widen Over the six months to the end of September 2014 TwentyFour Income Fund generated a total return of 6.5% on its net assets. It is paying quarterly dividends of 1.5p, in-line with forecast of 6p dividends for the year as a whole. They say the […]
LTI : Lindsell Train insures their key men Over the six months to the end of September 2014 the total return on Lindsell Train’s net asset value was 8.7% – a lot better than its benchmark (the index of the annual average yield on the UK 2.5% Consolidated Loan Stock) which returned 2.1% and better […]
HVTR : Henderson Value Trust continuation vote looms At this year’s AGM shareholders of Henderson Value Trust will be asked to approve the continuation of the company in its current form. The company’s year end results make disappointing reading for shareholders but the Board is adamant that things are on an improving trend and the […]
HAN / HANA : Hansa Trust says portfolio changes almost complete Hansa Trust has published figures for the half year to end September 2014 that show its net asset value total return was 1.0% – marginally behind the 1.6% return on its benchmark. Breaking down that total return figure, the capital value of the fund […]
BSIF : Bluefield Solar expanding plant in Norfolk Bluefield Solar is paying for an extension of its existing project at Hardingham in Norfolk. The existing plant has a 14.8MW peak capacity, this extension will expand that by 5.2MW. The new asset will attract a 1.4 ROC subsidy they think. The cost of the project is […]
GCP : GCP raises cash and invests in Biomass plant GCP Infrastructure has simultaneously announced that it has raised £70m from investors and that it is investing £20m into GCP Biomass 4 Limited. They have placed 63.6m shares at 111.75p, raising gross proceeds of £70m. The announcement says the placing was “significantly oversubscribed”. GCP Biomass […]
PLI : Perpetual Income & Growth beats benchmark Over the six months to the end of September Perpetual Income & Growth generated a 2.2% return on net assets. There was a small widening of the discount so the share price return was 1.6%. By contrast the return on the company’s benchmark was 1.2%. The dividend was […]
TEM : Good stock selection helps Templeton outperform Templeton Emerging Markets interim figures for the six months ended 30 September came in ahead of its benchmark. The fund delivered a net asset value total return of 8.2% while the MSCI Emerging markets Index returned 6.1%. Shareholders did even better as the discount narrowed so that the share […]
LAND : Land Securities buys out partner in Thomas More Square Land Securities is paying £85.3m to buy out its 50% joint venture partner in the Thomas More Square estate of offices and retail space in east London. The estate, which sits by the river between St. Katherine’s Dock and London Dock, covers 4.2 acres and currently […]
ESP : Empiric raises £65m and invests in Huddersfield Empiric Student Property has just raised £66m from investors through a placing and offer for subscription of shares and has already spent some of this on a new student accommodation block in Huddersfield. 65m shares were placed with institutional investors or sold through an offer for […]
JLEN : Everything on track at John Laing Environmental John Laing Environmental Assets has published its first set of figures since it listed in March, covering the period up to the end of September 2014. They raised £160m and invested all of that into seven environmental infrastructure assets on nine sites. The initial net asset […]
FCSS : Fidelity China boosted by Alibaba Fidelity China Special Situations beat the MSCI China Index by 6.7% over the six months ended 30 September 2014, returning 16.8% vs. 10.1% for the Index. The company’s shares returned 14.3% as the discount widened a little – from 9.6% to 11.7%. Fairly high levels of gearing boosted […]
FRCL : Foreign & Colonial to redeem its debenture Foreign & Colonial has £110m of debenture stock outstanding that was issued in 1989 and falls due for repayment on 31 December 2014. The Board have announced today that this will be redeemed at par on 31 December. This is good news for ordinary shareholders as […]
HICL : Good first half for HICL driven by imminent disposal HICL Infrastructure’s interims for the six months ended 30 September show a decent increase in the net asset value over the period. The net assets value rose by 7.4% to 130.5p and the dividend was increased to 3.62p from 3.5p the previous year – they […]
PCTN : Good first half for Picton Picton Property Income’s net asset value rose from 56p to 62p over the six months that finished on 30 September 2014, aided by an uplift in the value of the property portfolio of 6.8%. They are maintaining the interim dividend at 1.5p. This translate into a return on net […]
AJIT : Early success for Aberdeen Japan Aberdeen Japan has beaten its new benchmark index by some margin since it adopted its new mandate in October 2013. Over that period its net asset value rose by 17.6% vs. a 3.5% increase in the TOPIX Index. Over the six months that ended on 30 September 2014 […]
BLND : Above market growth in asset value for British Land British Land’s interim report for the six months ended 30 September 2014 shows 11.8% growth in its net asset value to 769p with property values up 7.2% and total returns on property of 9.8% for the period. Underlying profits were 6.2% ahead at £155m, with […]
SCF : Schroder Income Growth change to investment policy Schroder Income Growth’s annual report for the year that ended on 31 August 2014 is out. they upped the dividend by 3.1% (well ahead of the 1.5% increase in the CPI – inflation beating dividend increases are part of Schroder Income Growth’s objective). The total return […]
STS : Securities Trust of Scotland underperforms in first half Securities Trust of Scotland lagged its benchmark (MSCI World High Dividend Yield Index) by 2.4% over the six months that ended on 30 September 2014 – making a 2.6% total return on net assets. The Chairman said stock selection was the predominant reason behind underperformance, particularly within the […]
OPP : Brooks MacDonald requisitions Origo meeting On Friday Brooks MacDonald’s spat with Origo reached a new high as it requisitioned a meeting of Origo’s shareholders at which it will propose that all of Origo’s directors, with the exception of Chris Rynning (the Chief Executive), are removed and Brett Miller and Rhys Davies appointed instead […]
NSA : Nimrod Sea Assets adds two platform supply vessels Nimrod Sea Assets is spending $24.4m on a 75% stake in two new platform supply vessels (PSVs), $12.75m now and the balance next April when the second of the two boats is complete. They will be chartered and operated by Fletcher Shipping ( designation: FS Cygnus, […]
QIL : Qannas investing in new financial services company Qannas Investments is spending $20.4m to acquire up to 50% of a new financial services company, Integrated Financial Group. Integrated Financial Group is being set up to acquire First Gulf Financial Services LLC (in the course of being renamed Integrated Securities), which is in the business […]
TRIG : Renewables Infrastructure buys Kirkcaldy wind farm The Renewables Infrastructure Group is paying £32m to acquire a 16MW wind farm at Kirkcaldy, Fife, Scotland. The Earlseat wind farm has eight Vestas V90 2.0 MW wind turbines and was grid-connected in June 2014. The farm is subsidised to the tune of 0.9 ROCs per MWh and […]
SREI : Schroder Real Estate may become a REIT Schroder Real Estate has published its interims figures for the six months ended on 30 September 2014. Over that period the net asset value rose by 13.4% to 55.1p on the back of a 12.7% increase in the value of the property portfolio (by contrast the […]
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