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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).

15 Oct 2014

Jupiter US Smaller let down by discount

JUS : Jupiter US Smaller let down by discount Jupiter US Smaller Companies has announced its results for the year that ended on 30 June 2014. The fund outperformed – generating a return on net assets of 11.0% vs. an 8.3% return on the Russell 2000 Index. The company’s rating deteriorated however (moving from a […]

Sectors
15 Oct 2014

Vinaland raises $31m from asset sales

VNL : Vinaland raises $31m from asset sales Vinaland has published its results for the year that ended on 30 June 2014. Over the period the net asset value fell by a cent from $0.93 to $0.92 but this unexciting result masks considerable activity in the portfolio as property worth $31.4m was sold. The company sold […]

Sectors
13 Oct 2014

GLI Finance buys stake in UK Bond Network

GLIF : GLI Finance buys stake in UK Bond Network GLI Finance has announced the acquisition of a 16.6% stake in UK Bond Network (www.ukbondnetwork.com) UK Bond Network is a peer-to-peer bond platform. It provides bespoke finance to companies seeking loans or bond finance in the £500,000 to £4m range. The announcement describes how UK […]

13 Oct 2014

Picton Property gets planning permission for scheme in Swindon

PCTN : Picton Property gets planning permission for scheme in Swindon Picton Property has a six acre site – Westlea Campus in Chelmsford Road Swindon. Planning permission has just been granted to build a 15,000 sq ft supermarket and 70 residential units on the site. Picton has already done a deal with Aldi to sell […]

11 Oct 2014

RENN Universal Growth plans liquidation

RUG : RENN Universal Growth plans liquidation RENN Universal Growth plans to ask shareholders to approve putting the company into voluntary liquidation. The Board is keen to enact this before selling off more of RUG’s portfolio so as not to lose the benefit of RUG’s investment trust status. The statement says “while the Manager continues […]

Sectors
11 Oct 2014

Jupiter Primadona discount narrowing offsets underperformance

JPG : Jupiter Primadona discount narrowing offsets underperformance Jupiter Primadona Growth has published its results for the year that ended on 30 June 2014. Over the year it generated a return on net assets of 9.7%, underperforming its benchmark, but shareholders did much better than that as the rating on the fund improved significantly, eliminating the […]

Sectors
Companies
09 Oct 2014

BlackRock World Mining writes off London Mining exposure

BRWM : BlackRock World Mining writes off London Mining exposure With apologies for not picking this up yesterday, BlackRock World Mining, in its usual NAV announcement, disclosed that it had written off its £52m exposure to London Mining. This is a big blow to the net asset value – taking about 30p off the net […]

09 Oct 2014

Vietnam Infrastructure restructuring details

VNI : Vietnam Infrastructure restructuring details Following conversations with its major shareholders, Vietnam Infrastructure is putting forward proposals to shareholders. The proposals involve splitting the fund into two parts – one representing the private equity, unlisted investments (currently about $108m) and the other the listed investments (currently about $117m). the listed investment pool would be devolved […]

09 Oct 2014

NextEnergy Solar looking to raise over £250m

NESF : NextEnergy Solar looking to raise over £250m NextEnergy Solar Fund has announced that it has identified a pipeline of potential deals worth about £210m and has identified additional deals worth £333m.  They have a revolving credit facility worth up to £31.5m and can use this to get the ball rolling but to fund […]

09 Oct 2014
Henderson Eurotrust prepares for Tim Stevenson's retirement

Narrowing discount boosts returns from Henderson Eurotrust

HNE : Narrowing discount boosts returns from Henderson Eurotrust The year that finished on 31 July 2014 was a good one for shareholders in Henderson Eurotrust as its discount narrowed considerably on top of outperformance of its benchmark index. For the period Henderson Eurotrust generated a return on net assets of 5.4% against a 4.1% […]

Sectors
09 Oct 2014
HICL Infrastructure sells AquaSure desalination stake

HICL buys more of desalination plant

HICL : HICL buys more of desalination plant HICL Infrastructure has acquired another 3.4% of the Victorian Desalination PPP Project taking their interest to c9.3%. They have paid A$46m for the additional stake. The Project was procured under the State of Victoria’s Partnerships Victoria Policy and is the largest desalination plant in the southern hemisphere […]

08 Oct 2014

Gresham House proposals unveiled

GHE : Gresham House proposals unveiled Gresham House has published more detail on its revamp. it will get a new set of directors, cease to be an investment trust, shift to the AIM market, adopt a new investment policy and raise some extra money. The proposals need to be approved by shareholders at a meeting […]

Sectors
08 Oct 2014

TwentyFour Income plans share issue

TFIF : TwentyFour Income plans share issue TwentyFour Income Fund plans to issue c9.99% of its issued share capital (26.69m shares). The managers say that as a consequence of the recent announcement by the ECB concerning the launch of the ABS Purchase Programme, they believe spreads in European ABS will compress further, increasing the prospect […]

08 Oct 2014

Chenavari makes new investment in Spanish debt

CCSL : Chenavari makes new investment in Spanish debt Chenavari Capital Solutions has invested €21.6m in a bilateral transaction with a Spanish bank – the deal gives exposure to a concentrated portfolio of sub-performing and non-performing mortgage loans and repossessed real estate assets. The total original face value of the portfolio is ca. €400m – […]

08 Oct 2014

JPMorgan Global Emerging Income lags benchmark

JEMI : JPMorgan Global Emerging Income lags benchmark Over the year that ended on 31 July 2014 JPMorgan Global Emerging Markets Income’s net asset value return was 1.3%. this was a bit behind the MSCI Emerging Markets Index, which returned 3.6%. The good news for shareholders was that the share price returned matched this as […]

Sectors
07 Oct 2014

Reconstruction Capital II planning to issue loan notes

RC2 : Reconstruction Capital II planning to issue loan notes Reconstruction Capital II says it will hold a meeting on 29 October 2014 at which it will ask shareholders to approve the continuation of the company for two years until the AGM in 2016 and the issue of £8.45m of convertible loan notes. They say […]

07 Oct 2014

Last few investments in European Residual Income sold

ERII : Last few investments in European Residual Income sold European Residual Income Investments has announced that Alba 05, Alba 06 and Eirles 236B have been sold for values in excess of their last valuation. The fund now just holds cash of about €18.2m and one other holding that has zero value. The directors are now thinking […]

07 Oct 2014

Alpha Pyrenees sells office in Gennevilliers

ALPH : Alpha Pyrenees sells office in Gennevilliers Alpha Pyrenees has announced that it has sold an office investment in Gennevilliers in France (north Western Paris suburbs) for €7.4m. The price is in line with book value. The property comprises 3,410 sqm and is let to Husqvarna France on a 9 year lease with a […]

Sectors
06 Oct 2014

TR European Growth discount narrows as fund outperforms

TRG : TR European Growth discount narrows as fund outperforms TR European Growth’s results for the year ended 30 June 2014 show the fund delivering a 34.3% total return on net assets for the year – well ahead of the 26.8% return on the fund’s benchmark (The Euromoney Smaller Companies Index excluding the UK). TR European […]

Sectors
06 Oct 2014

Kennedy Wilson raising £350m

KWE : Kennedy Wilson raising £350m Kennedy Wilson Europe Real Estate is aiming to raise £350m from investors. £100m of this has been raised already via a firm placing to a group of investors including Kennedy Wilson, Marketfield Asset Management, Quantum Strategic Partners and Wellington Management Company (all of which are considered related parties for the […]

Sectors
06 Oct 2014

Electra defeats Sherborne

ELTA : Electra defeats Sherborne Electra Private Equity has announced that at the meeting held today all the resolutions put forward by Sherborne were rejected by shareholders – the full results of the voting are shown below. 1. That Mr. Edward Bramson be and is hereby appointed as a director of the Company. Votes for 11,008,318  (38.22%), Votes against 17,796,709 (61.78%) 2. That […]

Companies
06 Oct 2014

Trading Emissions NAV falls

TRE : Trading Emissions NAV falls Trading Emissions has announced its full year results for the period ended 30 June 2014. It made quite sizeable distributions to shareholders during the year (15p in July 2013 and 8p in June 2014), in line with its policy to sell off its portfolio and return the proceeds to shareholders, […]

06 Oct 2014
Revenue up 6.4% at Real Estate Investors

Real Estate Investors buys in Walsall

RLE : Real Estate Investors buys in Walsall Real Estate Investors has taken the size of its property portfolio past the £100m mark with the acquisition of 59/75 Park Street Walsall for £7.7m. The parade of shops is let to a variety of tenants including Wallis Retail, Burton, Superdrug Stores, BHS Limited and Waterstones Booksellers […]

03 Oct 2014

JPMorgan Private Equity balance sheet improving

JPEL : JPMorgan Private Equity balance sheet improving JPMorgan Private Equity’s results for the year ended 30 June 2014 show its net asset value rising by 2.7% or 3 cents to $1.14. The shares moved up 5.5%, narrowing the discount a little but still leaving it close to 30%. The Board and managers say they […]

Geographies
  • Asia
  • Europe (EU and EEA ex UK)
  • North America
02 Oct 2014

JPMorgan Emerging Manager mulls what makes a good investor

JMG : JPMorgan Emerging Manager mulls what makes a good investor JPMorgan Emerging Markets annual results for the year ended 30 June 2014 show the fund delivering a net asset return of -3.5%, behind the MSCI Emerging Markets Index which returned +1.4%. The return to shareholders was a bit better (-1.0%) as the discount narrowed […]

Sectors
02 Oct 2014

Flurry of deals increases Pantheon’s exposure to co-investments

PIN : Flurry of deals increases Pantheon’s exposure to co-investments Pantheon International Participations has published results for the year ended 30 June 2014. The net asset value rose by 2% over the year and the share price rose by 10%, narrowing the discount from 22% to 16%. The performance lagged that of the FTSE All-Share […]

02 Oct 2014

HICL Infrastructure adds to hospital exposure

HICL : HICL Infrastructure adds to hospital exposure HICL Infrastructure is spending £61.5m to by the other half of the Pinderfields and Pontefract Hospitals PPP project that it did not own from Balfour Beatty. the funding from the deal came from their existing resources. The PPP project covers hospitals on two sites, building work was […]

02 Oct 2014

Schroder Japan beats benchmark

SJG : Schroder Japan beats benchmark Schroder Japan Growth has published results for the year ended 31 July 2014. Over the year the strength of Sterling held back returns – translating a 15%+ gain in Yen terms into a 0.2% loss for the benchmark index. Schroder Japan Growth managed to beat this however, delivering a […]

Sectors
01 Oct 2014

Riverstone investment funds Bellatrix Exploration

RSE : Riverstone investment funds Bellatrix Exploration Riverstone Energy has announced that Canadian Non-Operated Resources Corp (a Riverstone investment earlier this year) is funding half the cost of drilling, completion, equipping and tie-in capital expenditures associated with Bellatrix’s development plans to the tune of $250m ($40m of which is Riverstone’s). Bellatrix has extensive acreage and […]

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