Supermarket Income REIT buys Cumbernauld Tesco – Supermarket Income REIT has acquired a Tesco Extra supermarket in the North Lanarkshire town of Cumbernauld, Scotland, from Legal and General for GBP50 million (net of acquisition costs), reflecting a net initial yield of 5.5% after the next agreed RPI-linked rent review in March 2018. The 9.5-acre site […]
Custodian REIT buys car dealership – Custodian REIT has announced a further property purchase. The company has acquired a 24,845 sq ft car dealership on Pride Park business park in Derby, two miles from the city centre and prominently located on the busy A6. Nearby occupiers include Rolls Royce, Volkswagen, Lexus, Mercedes-Benz, Land Rover, and Ford. […]
EPE Special Opportunities buys furniture business – EPE Special Opportunities says that, on 18 December 2017, it completed an investment in David Phillips Holdings Limited. EPIC Private Equity describes David Phillips, which was established in 1998, as a market leading business-to-business provider of furniture and furnishing services to the UK property sector, supplying owners, managers, agents and […]
No takeovers please says Edinburgh Worldwide chairman – Edinburgh Worldwide Investment Trust says that, for the year ended 31 October 2017, its NAV increased by 31.6% and its share price by 43.0%. The comparative index, the S&P Global Small Cap Index, increased by 13.4% in sterling terms during this period. Henry Strutt, the chairman, says that the fund’s good relative […]
HBM Healthcare sees healthy NAV rise but remains at a deep discount Swiss-listed HBM Healthcare Investments (HBMN.S) recorded an impressive 23% rise in NAV and saw a 36% gain in its share price in the 11 months to end November, according to its latest monthly update. However, the trust’s shares currently trade at an 18.5% discount to […]
Worldwide Healthcare maintains strong run and moves to premium Despite seeing a relatively flat-to-down month in November, Worldwide Healthcare Trust (WWH) generated a 15% increase in NAV and 18% rise in its share price in the 11 month year-to-date period, comfortably beating the 9% rise in its benchmark index, according to its latest monthly factsheet. Moreover, the […]
US analysts target key Woodford Patient Capital investees The Neil Woodford-managed biotech/tech investment trust, Woodford Patient Capital Trust (WPCT), is finding itself under increasing pressure, with analysts at two separate US firms calling into question its two largest investments, Prothena (15.6% of NAV at 30 September ) and Oxford Nanopore (8.9%). Ireland-based but Nasdaq-listed Prothena […]
Aberdeen Private Equity bites the dust – Following consultation with Aberdeen Private Equity’s largest shareholders and an extensive process to identify potential purchasers, the board has announced that the company has entered into a sale and purchase agreement (the “SPA”) to sell its entire investment portfolio at a modest premium to its 31 October 2017 […]
Biotech Growth Trust swaps out Celgene and Alexion for Amgen OrbiMed, the manager of the UK’s Biotech Growth Trust BIOG, has boosted the trust’s investment in Amgen at the expense of previous long-term holdings in Celgene and Alexion over the last month, according to the November portfolio update. Amgen is now the trust’s joint second largest investment (at 10% […]
Investment Trust Insider on Biotech – inspired by the launch of our biotech news service on QuotedData, I wrote something for Citywire that looks at some of the exciting stories that have been published just in the last couple of weeks. James Carthew: biotech boom boosts generalist trusts This week I am returning to the […]
3i Infrastructure sells Anglian Water stake – 3i Infrastructure has agreed to sell its stake in Anglian Water Group, the parent company of Anglian Water, the supplier of water and water recycling services to over six million domestic and business customers in the east of England and Hartlepool. The acquirer is a consortium of Dalmore Capital […]
NextEnergy buys two more plants – NextEnergy Solar has announced the signing and completion of two share purchase agreements for the acquisition of two operating solar plants with a total installed capacity of 8.6MWp. The plants were acquired from different counterparties and comprise Gilley’s Dam (5.0MWp, Cornwall) and Pickhill Bridge (3.6MWp, Wrexham). Gilley’s Dam was […]
Geiger Counter benefits from uranium production cuts – Geiger Counter says that, for the year to 30th September 2017 its net asset value fell by 7.3 per cent which was in line with the fall in the spot uranium price. The share price rose by 15.9 per cent over the year with the discount being 3.3 per […]
FastForward Innovations has announced that a transaction involving its investee company Nuuverra Corp, in which FastForward has an effective holding of 3.75%, has received conditional approval from the TSX Venture Exchange. In summary, Mira IX Subco Inc., a wholly-owned subsidiary of Mira IX, will amalgamate with Nuuvera. Prior to closing of the Transaction, it is […]
Henderson Alternative Strategies Trust (HAST) has announced its annual results for the year ended 30 September 2017. During the period, HAST provided an NAV total return of 10.8% and, reflecting a marked narrowing of the discount, a share price total return of 19.8%. The share price performance is superior to that of the company’s benchmark, […]
Ranger slashes NAV again – Ranger Direct Lending has announced that it will make a further provision against Princeton/Argon and this will amount to a hit of about 3.8% to the end September NAV. The full text follows: “Further to the Company’s announcements regarding the bankruptcy proceedings in respect of Argon Credit, LLC and Argon X, […]
Lowland extends its run of above average dividend increases – Lowland’s NAV total return was 17.0% for the year ended 30 September 2017, compared with the benchmark All-Share Index return of 11.9%. Three interim dividends of 12.0p have been paid and a final dividend of 13.0p is proposed, total dividends for the year will amount to […]
JPMorgan Indian loses out as HDFC foreign premium shrinks – JPMorgan Indian Investment Trust says that, for the year ended 30th September 2017, the MSCI India Index (in sterling terms), returned +10.5%. The company produced a return on net assets of +9.0% over the year. However, the return to shareholders was ahead of the benchmark, […]
EP Special Opportunities dives on Luceco profit warning – EP Special Opportunities’ shares are 23.3% lower at lunchtime today (15 December) following a profit warning from its largest investment. Luceco profit warning Luceco made the following announcement this morning “Luceco plc, the manufacturer and distributor of high quality and innovative LED lighting products, wiring accessories […]
F&C Commercial Property buys Bristol office – F&C Commercial Property Holdings Limited, a subsidiary of F&C Commercial Property, has purchased a 56,059 sq ft prime office, One Cathedral Square, in Bristol for GBP33.5 million, reflecting a net initial yield of 5.0 per cent. The property is fully let to the strong covenants of the University of […]
Finsbury Growth outperforms again – Finsbury Growth & Income Trust’s net asset value return per share for the year was 13.7% (2016: 20.6%) and the share price total return was 14.2% (2016: 20.8%). Both outperformed the benchmark, the All-Share Index, measured on a total return basis, which rose by 11.9%. The total dividend for the year […]
Primary Healthcare Properties investing in Cork – Primary Health Properties ICAV, an Irish investment vehicle wholly owned by Primary Healthcare Properties, has agreed to acquire a large modern primary heathcare facility in County Cork, Ireland for a total cost of €20 million. The facility comprises a lettable area of circa 6,500m2 and will be fully let. […]
GCP Infrastructure notes demand for dependable and predictable income – GCP Infrastructure has announced results for the year ended 30 September 2017. The highlights are: Total shareholder return for the year of 2.6% and total return since IPO in 2010 of 97.8% NAV per ordinary share at 30 September 2017 of 110.57 pence (2016: 109.67 […]
3i Infrastructure gets bid for Elenia – In a statement released on 12 December, 3i Infrastructure said “Further to recent speculation, the board of 3i Infrastructure plc confirms that bids have been received from potential acquirers of Elenia. These bids are currently being considered by the company and the other shareholders in Elenia. The company […]
UK CAR-T firm Autolus provides update at ASH conference Autolus, which is a closely-watched chimeric antigen receptor T-cell therapy firm backed by three of the UK’s most prominent biotech investors, obtained an important validation of its technology recently with the publication of data on its dual targeting technology at the American Society of Hematology (ASH) conference over […]
Empiric Student Property parts ways with chief executive – the board of Empiric Student Property plc, has announced that Paul Hadaway, the company’s chief executive officer, has received notice to terminate his employment with the Company. Accordingly, Mr Hadaway has ceased to be a director of the company with immediate effect. Tim Attlee, co-founder and chief […]
Local Shopping REIT to continue with piecemeal liquidation – Local Shopping REIT has released results for the year ended 30 September 2017. The highlights are: IFRS Loss for the financial period of GBP0.86m or 1.04 pence per share (2016: Profit GBP0.63m or 0.76 pps). Adjusted operating profit for the period of GBP1.26m or 1.5 pps […]
John Laing Environmental buys Welsh wind farm – John Laing Environmental Assets has announced the acquisition of Llynfi Afan Wind Farm from John Laing Group for a cash consideration, including working capital, of GBP43.0 million. Llynfi Afan Wind Farm is located in the Afan Valley, Abergwynfi, West Glamorgan in Wales and comprises 12 Gamesa 2MW G80 turbines […]
JPMorgan Chinese limiting Tencent and Alibaba exposure – JPMorgan Chinese says that, for the year ended 30 September 2017, the company delivered a return to shareholders of +36.4%. This includes the final dividend of 1.6 pence paid in February 2017. The company’s total return on net assets was +28.5%; this return was just marginally behind the MSCI […]
