EJF invests in TruPS securitisation – EJF Investments Ltd says that the company has invested approximately $17.0 million (approximately GBP12.9 million based on foreign exchange rates reported for the day the purchase occurred) in the preferred shares issued by TruPS Financials Note Securitization 2017-2 Ltd on 26 October 2017. The preferred shares are the lowest ranked security […]
Henderson Far East Income amends fees – Following a formal review of the management fee arrangements, Henderson Far East Income is pleased to report that with effect from 1 September 2017, the Board has agreed a tiering basis to the management fee arrangements so that the existing management fee of 0.9% per annum (calculated as 0.225% per quarter) will only apply to […]
Redefine moves to fully covered dividends – Redefine International has published results for the year ended 31 August 2017, its EPRA NAV rose to 41.4p rom 40p and EPRA earnings per share rose from 2.7p to 2.8p on earnings up from £44.1m to £50.9m. The Board has declared a second interim dividend of 1.3 pence per share […]
VinaCapital Vietnam Opportunity planning significant private equity investment – VinaCapital Vietnam Opportunity Fund has published accounts for the year ended 30 June 2017. The NAV increased in US Dollar terms by 25.5% to USD4.73, while the share price rose by 35.5% to USD3.82. Their listed equity portfolio returned 32%, outperforming the VN Index by 12%. VOF benefited from […]
Ottoman Fund nudges closer to the end – The Ottoman Fund Ltd has successfully repatriated its cash from Turkey and has placed its three Turkish subsidiaries in liquidation. This represents a substantial step in its efforts to wind up its business activities in Turkey and return excess capital to shareholders. The auditors and administrator are […]
JPMorgan Global Emerging Income lags on technology underweight – JPMorgan Global Emerging Income reports that, for the year ended 31 July 2017, it generated a total return on net assets of +16.4%. The total return to shareholders was +14.4% reflecting a widening of the share price discount to net asset value from 1.5% to 3.4%. […]
Not just any big box… – Tritax Big Box REIT plc has completed contracts with ProLogis European Finance XI Sarl to acquire two modern Big Box logistics facilities at Prologis Park, Stoke-on-Trent, Staffordshire, let to Marks and Spencer and Dunelm (Soft Furnishings) Ltd, the UK’s number one homewares retailer. The combined net purchase price is GBP78.5 […]
Aberdeen Asian Smaller outperforms helped by financials – Aberdeen Asian Smaller Companies says that, for the year ended 31 July 2017, its net asset value increased by 15.4% on a total return basis, ahead of the MSCI Asia Pacific ex Japan Small Cap Index’s return of 14.3%. For UK-based investors the weakness in sterling boosted investment returns. […]
Alpha Real gets planning for Frankfurt data centre – Alpha Real Trust has successfully secured detailed planning consent for a 40,338 square metre data centre building at its data centre site, together with a commitment from the local utility provider to connect a 35 MVA dual feed power supply to the site. As announced in […]
Temple Bar issues 30-year debt – The Board of Temple Bar Investment Trust announces that it has agreed a £25m fixed rate 30 year Private Placement Note at a coupon of 2.99%. The funding date will be 24 October 2017 and this financing will be due for bullet repayment on 24 October 2047. The interest payment […]
K&C REIT hopes for transformation – tiny K&C REIT has big ambitions. It plans to consolidate its shares on a 10×1 basis and issue up to £150m shares at 100p to fund the acquisition of portfolios of residential property. It hopes to top up the £150m equity issue with £100m of debt. Duncan Walker, previously […]
Merchants Trust refinances debt – The Merchants Trust has today priced an issue of a GBP35 million fixed rate 35 year secured private placement note with a coupon of 2.96%. The funding date, subject to final documentation, will be 18 December 2017, with interest payable semi-annually on 18 December and 18 June (first payment on 18 […]
JPMorgan Global Convertible benefits from discount tightening – JPMorgan Global Convertible Income had a better year over the course of the 12 months ended 30 June 2017. The total return on net assets was +9.2% and shareholders enjoyed an even stronger performance, with a total gain of 19.1% (dividends reinvested). The fund did underperform its […]
John Laing Infrastructure buys five PPP projects – John Laing Infrastructure Fund has signed sale and purchase agreements with respect to the acquisition of a portfolio of five UK PPP projects from John Laing Group plc. The portfolio comprises: An additional 9% indirect interest in the Intercity Express Programme Phase 1 (“IEP Phase 1”) project […]
Small hit to NAV as VPC Speciality Lending sells Avant – In line with the previously stated strategy of reallocating capital from marketplace lending to balance sheet lending, VPC Speciality Lending has announced that it has sold the vast majority of its Avant marketplace loans, excluding the securitisations. The loans sold represented 7.6% of its NAV […]
Electra to hand back another £350m and drop private equity from name – Electra has completed what it termed as “Phase II” of its strategic review. The conclusions are: Continue to focus on optimising return on shareholder capital. No new investment in current market conditions. However, should conditions change the Board will consider further investment. A further special […]
BlackRock Greater European exploring South African listing – BlackRock Greater European says that, during the year to 31 August 2017, its net asset value per share increased by 23.0%, compared with a rise of 26.0% in the World Europe ex UK Index. The share price rose by 22.9% over the same period. The chairman’s statement says that […]
Volta cuts fees after good year – Volta Finance says that, during its financial year ended 31 July 2017, the net asset value per share (dividends re-invested) rose by 13.6%. The share price performance was even stronger, generating a total return of 18.7% as the discount to NAV narrowed. The investment manager has agreed to amend their […]
Hammerson buys Cergy 3 centre in Paris – Hammerson has completed the acquisition of the 11,000 sqm shopping centre, Cergy 3, adjoining its centre Les Trois Fontaines, Cergy Pontoise, Paris for EUR 81 million (GBP72 million) from a private vendor. Les Trois Fontaines is established as the leading shopping destination for the Val d’Oise region […]
Blue Capital Alternative takes 26% hit from catastrophes – Blue Capital Alternative Income has announced its NAV estimate for 30 September 2017. they reckon it was 82.27cents per share, a 26% hit relative to the last published NAV and contributing to a 23.7% loss so far in 2017. The net asset value of the ordinary […]
Aberdeen Latin American Income (ALAI) has announced its annual results for the year ended 31 August 2017. During the period, the company’s NAV total return was 25.1% and its share price total return was 23.7%, which the company says compares against a benchmark total return of 21.4%. The superior NAV total return reflects a widening […]
JPMorgan Smaller Companies’ board calls for more conviction from manager – JPMorgan Smaller Companies says that, for the year ended 31 July 2017, the total return on its net assets was +31.0%, compared with +23.4% recorded by the benchmark index. However, the return to shareholders was +28.7%, reflecting a widening of the share price discount […]
Dunedin Enterprise sells Kee Safety – Dunedin Enterprise Investment Trust says that a contract has been signed, subject to completion, to sell its investment in Kee Safety, the market-leading provider of collective fall protection, safety systems and solutions. Completion of the transaction is due on 31 October 2017. Capital and accrued interest in Kee Safety […]
LXi funds Lidl in Chard – LXi REIT has exchanged contracts to provide forward funding for the development of a new food store in Chard, Somerset, pre-let to Lidl UK GmbH. The development represents an investment of GBP5.5 million, reflecting a net initial yield of 5.75% (net of acquisition costs). The property will comprise a […]
Longbow makes loans against Kingston property – ICG Longbow has completed a new loan to a privately-held property company with an aggregate value of GBP9.0 million. The ‘Quattro Loan’, which matures in January 2021, carries an initial LTV ratio of 83.7% and is secured by first ranking charges against a portfolio of three mixed-use properties […]
Empiric Student Property makes rare sale – The Board of Empiric Student Property plc says that the group has exchanged contracts to sell the freehold of a site in Forthside Way, Stirling for GBP2.0 million (excluding costs). The disposal is expected to complete on 27 November 2017. This site was acquired by the group in August […]
CatCo NAV plummets on hurricane impact – Markel CATCo Investment Management Ltd., has announced that the unaudited net asset value of CatCo Reinsurance Opportunities’ ordinary shares was $1.0795, as at the close of business on 30 September 2017. The ordinary shareholders are exposed to potential losses arising from Hurricanes Harvey, Irma and Maria. They say that, whilst […]
K&C REIT struggles with high overheads and weak property market – K&C REIT, the high-end residential property fund, has announced results for the year ended 30 June 2017. Its NAV fell to 8.57p from 9.42p (-9.0%). The shares are trading at 7.5p. They point out that the residential sales market has slowed over the last year, […]
LXi REIT buys supported living portfolio – The Board of LXi REIT says that the company has exchanged contracts on the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Greater London (50%), Devon (30%), Surrey (14%), Essex (4%) and Northampton (2%). The purchase price is GBP18.9 million, […]
