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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).

28 Jul 2023
home reit logo over a picture of a residential street

Home REIT proposes changes to investment policy

Scandal-hit Home REIT is proposing changes to its investment policy as it looks to stabilise its business following the appointment of AEW as investment manager. The changes will be put to shareholders at a general meeting on 21 August. A summary of the changes Introduction of a stabilisation period A stabilisation period will commence on […]

Sectors
28 Jul 2023
Greencoat Renewables GRP Monaincha wind farm

Rising discount rates impact GCP Infrastructure

GCP Infrastructure Investments (GCP) announced its quarterly results to June 30, 2023. NAV fell 2.2% due to increases in discount rates which reflect the current higher inflation and base rate environment, and recent market transactions that suggest the rising cost of debt has started to impact equity pricing. This has resulted in a c.40bps increase […]

Sectors
28 Jul 2023
Alliance Trust - ATST

Another period of solid returns for Alliance Trust

Alliance Trust (ATST) has announced its interm results for the the six months ended 30 June 2023. The company’s NAV total return was 11.1%, significantly outperforming its benchmark index, the MSCI All Country World Index which returned 7.8%. Total shareholder return was 7.6%, due to a widening of the discount, although at  -7.2% this was […]

28 Jul 2023
a coffee pot and a mug, good morning from QuotedData

QuotedData’s morning briefing 28 July 2023

Law Debenture (LWDB) published its results for the half-year ended 30 June 2023. NAV total return for H1 2023 delivered a modest outperformance of 4.0% compared to its benchmark, the FTSE All-Share Index, which returned 2.6%. The company’s profit before tax was up by 8.5% and valuation up 4.4% to £210m (compared to 30 December […]

27 Jul 2023
a logo for MIGO Opportunities Trust

AVI wins mandate to run MIGO Opportunities

MIGO Opportunities Trust has appointed Asset Value Investors Limited (AVI) to become its AIFM and investment manager. It will continue to implement MIGO’s existing investment objective and policy. The decision follows detailed shareholder engagement and a rigorous selection process, as part of the board’s manager review announced in March. AVI is an experienced manager of […]

Sectors
27 Jul 2023
a bulk carrier at a quayside unloading aggregate 230727 TMI

Busy year for Taylor Maritime leaves it with young and efficient fleet

Taylor Maritime (TMI) results are out for the 12 months ended 31 March 2023. The company’s NAV return was 4.7%. Some highlights: Dividends of 10.97 cents were declared in the year ended 31 March 2023 (31 March 2022: 3.50 cents). In addition, the company declared an interim dividend on 27 April 2023 of 2 cents […]

27 Jul 2023
picture of the Whirlwind wind farm in Texas at dawn or maybe dusk 230629 RNEW whirlwind

Better news for Ecofin US Renewables as new route to grid connection identified

Ecofin US Renewables (RNEW) confirms that following the 21 June 2023 tornado in Matador, Texas, its 59.8MW Whirlwind Energy wind farm in Floydada, Texas, remains temporarily offline. As previously communicated, the tornado left the Whirlwind asset itself unharmed and affected only five project-owned transmission poles at the far end of Whirlwind’s transmission line along with the […]

27 Jul 2023
a cup of tea, a croissant and some magazines

QuotedData’s morning briefing 27 July 2023

In QuotedData’s morning briefing 27 July 2023: AVI Global Trust (AGT) has completed an agreement to issue JPY4.5bn (£25m) of fixed rate unsecured debt, for a term of ten years. The annual interest rate on the debt is 1.44%. The company is about 4% geared currently. Greencoat UK Wind’s (UKW) NAV dropped from 167.1p to […]

Companies
26 Jul 2023
230726 OCI

Oakley’s half-year update – sensible but positive

Oakley Capital has released it 6-month trading update for the period ending 30 June 2023. Over the period Oakley reported a NAV total return of 0.5% and share price return of 5.3%. OCI’s returns reflect a cautious approach by its team to the outlook and valuations of their holdings, as well a 3% currency loss […]

Sectors
26 Jul 2023
a bee gathering nectar from a flower 230726 NESF sustainability report

NextEnergy Solar publishes updated sustainability report

NextEnergy Solar has today published its latest sustainability and ESG report, which you can read here. This report builds on NESF’s first sustainability and ESG report published in 2022 and illustrates the breadth and depth of actions that the company has taken across the three pillars that comprise its approach to sustainability and ESG – […]

26 Jul 2023

Invesco Asia delivers solid outperformance

Invesco Asia Trust (IAT) has release its annual results for the period ending 30 April 2023 IAT reported a NAV total return of 1.2% and share price total return of 1.2%, compared to the -6.0% return of its benchmark, the MSCI AC Asia ex Japan Index. IAT’s outperformance primarily came from stock selection, with noteworthy […]

Sectors
26 Jul 2023

abrdn Smaller Companies Trust to merge with Shires Income

As a result of its strategic review, launched on 13 February 2023, abrdn Smaller Companies Trust (ASCI) has proposed that it combine with Shires Income (SHRS). The merger will also see ASI’s revenue reserve paid out as a pre-liquidation dividend. ASCI’s shareholders will have an option to either roll into SHRS or take a cash […]

Sectors
26 Jul 2023
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 26 July 2023

QuotedData’s morning briefing 26 July 2023 Primary Health Properties (PHP) reported a 1.3% fall in NAV to 111.1p per share for the six months to 30 June 2023. The group’s portfolio of GP surgeries and health centres was valued at £2.783bn at 30 June 2023, down 0.4% over the period (31 December 2022: £2.796bn) reflecting […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • UK
25 Jul 2023
Henderson Diversified Income Trust - Dear Prudence

Defensive positioning continues to weigh on Henderson Diversified Income

Henderson Diversified Income (HDIV) released its annual results for the year ended 30 April 2023. NAV total return was down 4% for the year, underperforming its benchmark by 3.7%. Shares fared slightly better, down 1% for the year. It has been a year of two halves for the company with NAV falling by 10.4% through […]

Sectors
25 Jul 2023
a green cup of something hot - tea or coffee? - sitting on an open bookon which is also resting what looks like a napkin 230406 morning

QuotedData’s morning briefing 25 July 2023

abrdn Diversified Income and Growth (ADIG) has provided an update on its recently announced strategic review, informing shareholders that the decision regarding the funds future is ongoing. The board did note that they were suspending the company’s share buyback policy in the light of the ongoing review process. [QD Comment: This continues to be a […]

Sectors
24 Jul 2023
230124 morning

QuotedData’s morning briefing 24 July 2023

In QuotedData’s morning briefing 24 July 2023: Alliance Trust (ATST) has added a new stock picker to its roster, bringing the total to 10. ATST’s investment manager Willis Towers Watson has appointed Dalton Investments, a value-focused Japanese specialist, which will receive 4% of ATST’s capital. Craig Baker, chairman of WTW’s investment committee, said: “Following extensive […]

Companies
21 Jul 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 21st July 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • abrdn New Dawn/Asia Dragon (0:27) • Digital9 Infrastructure (7:44) This week’s interview was with Ian Lance from Temple Bar – watch it again here.

Sectors
Companies
21 Jul 2023
230721 smoke fire

QD view – Where there’s smoke is there fire?

We have previously espoused the notion that the widespread discounts in the unlisted investment trust sectors are often unjustified. It is certainly true that many viable investment strategies are trading on ever wider discounts, if not their historically widest levels, with investors for example selling down their holdings out of fear of valuations cuts, or […]

Sectors
Companies
21 Jul 2023
Aberdeen New Dawn - Market setback creates opportunities

abrdn New Dawn announces proposed combination with Asia Dragon Trust

abrdn New Dawn Investment Trust (ABD) has announced that it has agreed to terms with the board of Asia Dragon Trust in respect of a proposed combination of the two trusts. The combination, if approved by each company’s shareholders, will be effected by way of a scheme of reconstruction and winding up of abrdn New Dawn […]

Sectors
21 Jul 2023
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 21 July 2023

Riverstone Credit Opportunities Income (RCOI) provided an update for the quarter ended 30 June 2023. NAV rose 1.4% for the period principally due to continued strong performance by the company’s unrealised portfolio and the successful refinancing and amendment of its investment in Streamline Innovations Inc. The company continues to be a beneficiary of the current […]

Companies
20 Jul 2023
A,Row,Of,Typical,British,Terraced,Houses,Around,Kensal,Rise 230720 TFIF mortgage

TwentyFour Income updates on mortgage risk

TwentyFour Income Fund, which invests in securitised debt has decided to update investors on its views of mortgage markets. It says that it wants to provide more information about the risk that it has exposure to, and what mortgage lenders can do to help support borrowers if needed. TwentyFour Income predominantly invests in debt securities […]

Sectors
20 Jul 2023
Nomadia logo and picture of a woman pointing to various benefits of Nomadia's services 230720 HGT Nomadia

Hg backs Nomadia

Nomadia, a leading European SaaS provider of smart mobility solutions, announced that it has secured a majority investment from Hg. As part of this transaction, the Nomadia management team and former majority owners will continue as investors in the business. Headquartered in France, Nomadia’s mobile applications and SaaS solutions enable companies to plan and optimise […]

20 Jul 2023
a coffee pot and a mug, good morning from QuotedData

QuotedData’s morning briefing 20 July 2023

In QuotedData’s morning briefing 20 July 2023: Bellevue Healthcare (BBH) is operating an annual redemption facility as usual this year. However, to be eligible to take part in November/December, you must be holding shares at 2 September 2023. This is to give the company the chance to get the paperwork done for what it fears […]

Companies
19 Jul 2023
Polar Capital Global Financials Trust - Don’t fear a slowing economy

Roller-coaster year for Polar Capital Technology amid tech bull resurgence

Polar Capital Technology Trust (PCT) announced its full year results for the period 30 April 2023. The company’s NAV fell 2.8% for the year while shares fell 4.9% compared to the benchmark Dow Jones Global Technology Index return of 2.9%. While recent performance for the trust has been impressive, driven by large cap US tech, […]

Sectors
19 Jul 2023

Stable returns for Herald despite market divergence

Herald Investment Trust (HRI) announced its half year results for the period ended June 30 2023. NAV for the company fell 0.3% while shares fell 1.8%, outperforming the Numis Smaller Companies Index which fell 1.8%, although the Russell 2000 Technology Index was up more than 16%. Herald operates a global portfolio with exposure to several […]

Sectors
19 Jul 2023
230209 morning

QuotedData’s morning briefing 19 July 2023

Castelnau Group (CGL) announced that further to the issue of new ordinary shares in connection with its acquisition of Dignity, announced on 5 May 2023, the company will issue a further 7,479 ordinary shares in connection with the listed share alternative pursuant to the statutory squeeze out. The board of Strategic Equity Capital (SEC) has […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • UK
Sectors
Companies
18 Jul 2023
230210 QD view - Bonds BIPS NCYF

Volatility leads to challenging year for Twentyfour Income Fund

Twentyfour Income Fund (TFIF) announced its annual report for the year end 31 March 2023. NAV for the year fell 10% while shares fell 6%. Discussing the performance for the period, the investment manager noted the following; “The company started the reporting period just after the invasion of Ukraine by Russia, meaning the risk sentiment […]

Sectors
18 Jul 2023
digital9 infrastructure logo

Interest grows as DGI9 provides company update

Digital 9 Infrastructure (DGI9) has provided a company update on its recent and ongoing activities. The key highlights from the report were: Considerable investor interest in equity syndication Continued evaluation of additional complementary sources of growth capital Reaffirmed target aggregate dividend of 6.0 pence per ordinary share for the year ending 31 December 2023 Operating […]

Sectors
18 Jul 2023
a paper, a criossant and a mug of something 230601 morning 3

QuotedData’s morning briefing 18 July 2023

Brunner Investment Trust (BUT) provided an update for the six month period to 31 March 2023. NAV per share increased by 1.6% compared to a benchmark return of 0.3% while shares were up 2.3%. Management sited a strict focus on valuation as one of the factors that allowed the company to avoid some of the […]

Companies
17 Jul 2023
logo of argen x230717 biog bb biotech

BB Biotech set to gain on Argenx positive trial news

BB Biotech should be able to report a significant increase in NAV tomorrow as a result of a positive trial outcome – with a corresponding c.25%increase in share price – by one of its largest holdings, the US-listed, Belgian company Argenx. The news represents an important fillip for the Swiss investment company, which has seen […]

Sectors
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