News

Ground Rents Income Fund has announced its annual results for the year ended 30 September 2015. The NAV per share at 30 September 2015 was 114.2p (2014: 104.3p), an increase of 9.5%. Profit before tax (including a £9.19m valuation gain) was £12.5m for the period (FY 2014: £4.7m (which included a £2.62m valuation gain). Basic […]

UK-based precious metal consultancy group, Metals Focus, reports that global gold mining total cash costs (TCC) have fallen to their lowest level since 2011 but despite this the basic producer margin (gold price less total cash cost) is at the lowest level since the Metals Focus series began in 2010. In the Q3 2015, TCC […]

Lowland, managed by James Henderson (pictured), has released its annual results for the year ended 30 September 2015. In what the board describe as a difficult year, the company’s NAV total return rose 0.8%, beating its FTSE All-Share benchmark, which fell 2.3%. The share price opened the year at a small premium, but closed at a […]

Alpha Pyrenees announces today that it has sold a portfolio of five properties in France totalling approximately 127,850 square metres for €142.7 million. The properties included in the portfolio were the Trust’s largest property, the Villarceaux-Nozay Business Park let to Alcatel-Lucent, and the Trust’s properties at Evreux, Goussainville, Roissy-en-France and Nimes. The purchaser is an […]

Henderson European Focus Trust has published accounts for the year ended 30 September 2015 that show it outperforming its benchmark. The net asset value total return for the year was 5.3% compared to a total return from the FTSE World Europe ex UK Index of -1.2%. The ordinary share price total return was 5.2%. They also announced […]

Matthew Read, senior analyst at QuotedData, analyses how two different trusts invested in Japan are benefiting – or not – from the country’s internationalisation and Shinzo Abe’s three arrows reform agenda. As Japan enters another recession, more fears surface about whether Abenomics is really working, with the country yet to show it has succeeded in […]

Hg Capital, the Manager of Hg Capital Trust, has announced that it has agreed the sale of TeamSystem Holding SpA, a leading provider of business critical, regulatory driven software products to accountants, HR professionals and SMEs in Italy, to Hellman & Friedman LLC, a leading private equity investment firm. Hg Capital intends to retain a […]

K&C REIT, which was admitted to AIM on 3 July 2015, has released its annual results for the year ended 30 June 2015. On its admission to AIM, the Group issued 43,035,622 ordinary shares, including 35,663,400 shares issued at 10 pence per share pursuant to a fundraising, generating gross cash proceeds of £3,566,340. Shortly after […]

JPMorgan Private Equity has announced that, further to its announcement on 27 October 2015 (regarding the spin-out of the company’s investment management team from J.P. Morgan Asset Management to an affiliate of Fortress Investment Group LLC) the company has now been advised that a definitive agreement in relation to the transfer has been signed. As […]

Derwent London has announced the sale of old Wedge House, 40 Blackfriars Road SE1, a 38,700 sq ft vacant freehold office building, for £33.5m before costs to Ennismore. Derwent, in collaboration with Ennismore, obtained planning permission this summer for a 110,000 sq ft hotel and office scheme at the site. Ennismore will now undertake the […]

Phoenix Spree Deutschland has exchanged contracts to buy four properties in Berlin and has sold two buildings in Nürnberg at a significant premium to book value. The four Berlin properties were bought for an aggregate consideration of €R19.8m (£14m), excluding acquisition costs; representing a price per square metre of €1,640. The deal covers 150 residential and 10 commercial units […]

Scottish Investment Trust announced a cut in its borrowings yesterday as it purchased in the market for cancellation 21,188,000 5.75% Secured Bonds 2030. Upon cancellation 82,827,000 5.75% Secured Bonds 2030 will remain in issue. Today it has announced results for the year ended 31 October 2015. The total return on net assets was 4.0% while the share […]

Candover Investments says Arle Capital Partners has agreed to sell Stork to Fluor Corporation for an enterprise value of €695m. The sale of Stork, provider of knowledge-based asset integrity services, completes the full exit of the investments held through Stork Holding BV following the sale of Fokker Technologies earlier this year to GKN plc for €706m. The […]

Standard Life European Private Equity has announced results for the year ended 30 September 2015. The net asset value total return for the year was 11.9 but the closing share price was 214.0p, a decrease of 7.0% over the year and a discount of 24.0% to NAV. The dividend was increased from 5p to 5.25p. […]

Seneca Global Income & Growth reports an NAV total return of -1.3% for the six months ended 31 October 2015. This is below the return on its benchmark of 1.8%. However SIGT has outperformed most indices and its competitors. On a capital only basis Seneca Global Income & Growth reported a 3.2% fall in NAV as compared to a 7.3% fall […]

Majedie Investments generated a 12.9% return on net assets for the year ended 30 September 2015 and a return to shareholders of 15.7%. The dividend was increased from 7.5p to 8p. This was the first full year of the Company’s assets being managed by Majedie Asset Management and they did a pretty good job – over […]

Blue Capital Global Reinsurance Fund is proposing to revise its investment policy and modify its performance fees. They want to do this in advance of the January 2016 reinsurance cycle. they also feel it is appropriate to reduce the company’s target return. The key changes proposed to the investment policy are as follows: the formal adoption of investment guidelines and […]

Small Companies Dividend Trust has announced its interim results for the six-months ended 31 October 2015. During the period, the NAV per ordinary share rose 11.6% beating the MSCI Small Cap Index, which fell 2.02%. The ordinary share price increased by 17.1% during the period and the discount narrowed from 16.99% to 12.90%. A second […]

CEB Resources Plc has announced that it has changed its name to Andalas Energy and Power Plc. The company, which is listed on AIM, was previously focused on invest in and/or acquire companies and/or projects within the natural resources and/or energy sector with potential for growth (The geographical focus was primarily Australia). Going forward, it […]

Aseana Properties says lenders are holding up capital distributions Aseana Properties has released an update on their progress towards making a first capital repayment to shareholders. The intention had been to make a first return of capital of US$10m to shareholders as of the end of September 2015 and to then make further returns of capital […]

New City Energy says its Board have been reviewing the level of likely income from the portfolio of investments.  This has been impacted by the sharp fall in the oil price over the last 12 months leading to a number of portfolio companies reducing or cancelling their dividends.   The Board have concluded that the current level […]

The Schroder European Real Estate Investment Trust, which is due to list on the London Stock Exchange on 9 December 2015, with a secondary listing in South Africa, has announced the results of its initial public offering. Commitments for 104,347,800 ordinary shares were received under the initial placing and a total of 3,152,200 ordinary shares […]

BlackRock Income Strategies has announced its final results for the year ended 30 September 2015. The period was one that a saw a number of key developments for the trust. A new multi-strategy investment policy was adopted, investment management responsibility was moved from F&C to BlackRock, a nil discount policy was adopted, a tender mechanism […]

Online estate agency, Purplebricks, has announced that it has conditionally raised £58.1m before expenses from an institutional placing for its upcoming float on AIM. The company, which is expected to list on 17 December, is expected to have an opening market capitalisation of £240.3m. Woodford Patient Capital Trust, managed by Neil Woodford (pictured) has an investment […]

CVC Credit Partners European Opportunities has announced that it intends to place up to 20 million Euro ordinary shares, currently held in treasury, at a price of between 0.25 % and 1.00 % premium to the Company’s NAV per share. The Placing will be based on the NAV of the Company as at 30 November […]

John Laing Environmental Assets has announced that it has purchased the Burton Wold Extension Wind Farm from John Laing Group plc for a cash consideration, including working capital, of £21.8m. The wind farm is located near Burton Latimer in Northamptonshire and comprises nine General Electric 1.6MW-100 turbines with a total generating capacity of 14.4MW. The […]

Qannas Investments Limited has announced the results of its tender offer to purchase up to 8,414,968 ordinary shares at a tender price of US$0.95 per ordinary share (approximately US$7.99 million in total). The Company says that that a total of 8,414,968 Ordinary Shares have been tendered and that tenders for up to 10.77% of shareholders’ […]

Better Capital PCC has announced that its 2009 Fund (BECAP Fund LP) has disposed of its interests in Santia Holdco Limited, together with its wider trading group, Santia. Santia is a provider of health & safety and accreditation services, which was acquired on 1 February 2011 from the administrators of Connaught plc. Santia was sold […]

Bluefield Solar Income Fund has announced that, following its placing and offer for subscription, it has received commitments for 30,098,639 new ordinary shares under the placing and 901,361 new ordinary shares under the offer for subscription. As such, 31.0m new ordinary shares are to be issued at a price of 102p per share, raising gross […]

Monks Investment Trust has announced its interim results for the six months ended 31 October 2015. Over the period, the company’s NAV lost 3.5% in total return terms, modestly outperforming the FTSE World Index which lost 4.3% (all in sterling terms). Reflecting a modest widening of the discount during the period, the share price total […]