Picton Property Income has bucked a trend of falling capital values post the EU referendum by posting an NAV increase for the six months ended 30 September 2016. The EPRA NAV rose by 1.7% to 78.5p over the period as the portfolio valuation increased by 0.6% against a market backdrop of falling values. They say their outperformance was due […]
Dolphin Capital Investors has entered into an agreement for the disposal of its Playa Grande Golf and Resort project, including the Amanera resort, in the Dominican Republic to Third Point LLC. The deal is being done an enterprise value of EUR140 million which represents a 10% discount to the project’s carrying gross asset value as at […]
M&G is offering investors in its High Income investment trust options to move to different vehicles as it prepares to wind up in March 2017, including the JP Morgan Elect trust as a closed-ended option. The firm has offered investors in the trust, currently managed by Richard Hughes, two options – open and closed-ended – following […]
This year has been a tumultuous year for markets and the investment trust sector has not escaped the action. After three years of strong demand supporting discount tightening, 2016 saw discounts to net asset value (NAV) go back out at the start of the year due to concerns over China, then over the forthcoming referendum […]
Donald Trump’s success in the 2016 US Presidential Elections has led to investment trust shares prices in the healthcare sector to soar today, while Latin American funds, which had recently seen strong performance, are among the biggest losers. Republican candidate Donald Trump was named the 45th President of the US earlier this morning and markets […]
The Woodford Patient Capital trust has enjoyed a 4 per cent boost to its NAV following the election of Donald Trump to the White House. The Woodford fund was among the top-10 investment trusts on the day after the US election, with many of the best performing being focussed on biotech. read more here
LONDON (Alliance News) – The best performer in both price and net asset value terms in the third quarter was UIL Ltd, boosted by its largest investment, Australian-listed Resolute Mining Ltd, which benefited from a strong gold price. Industrial Multi Property Trust PLC and Kubera-Cross Border Fund Ltd both saw recoveries in their share price […]
In a world of continued record low interest rates and low bond yields it’s no surprise that investors have been piling into equity income funds. But do investment trusts offer a more attractive route than their closed-ended peers? read more here
Northern Investors’ NAV rose 6.3% from 685.4p to 728.6p over the six months ended 30 September 2016. The share price rose by 33% to 845p, putting the shares on a premium of 16%. Including funds distributed through the March 2016 tender offer (GBP15.3 million) and the July 2016 dividend (GBP0.6 million), the total cash returned to […]
VinaCapital Vietnam Opportunity has made $40m by selling an unnamed asset valued at $60m in their books for $100m. They buyer is a newly formed consortium. VinaCapital Vietnam Opportunity expects to sign and close a Share Purchase Agreement within 21 days. VinaCapital Vietnam Opportunity will receive minimum net proceeds of USD100 million from the sale of the […]
Alcentra European Floating Rate Income Fund has published some figures for the period ended 30 September 2016. NAV per share increased from 103.04p as at 31 March 2016 to 103.88p as at 30 September 2016. They declared dividends of 2.94p. The manager says that the NAV of the company has remained relatively stable over the […]
Land Securities has published interim figures covering the six months ended 30 September 2016. Adjusted diluted net assets per share fell 1.8% to 1408p. The adjusted diluted earnings per share rose by 4.7% to 24.3p as revenue profits rose 4.5% to £192.5m. The main drivers of increased revenue profits were lower interest costs (which fell […]
McKay Securities has announced its half year results for the six months ended 30 September 2016. Its EPRA NAV at the end of the period was 295 pence per share, down 2.0% (31 March 2016: 301 pence per share). EPRA earnings per share were up 10.3% to 4.3 pence as gross rental income rose by 2.4% to […]
Serabi Gold (SRB:AIM) (SBI-CN) In the quarter the company was able to achieve record production, reduce debt and dramatically increase profit for the nine months ended September 30, 2016. The company achieved record Q3 2016 gold production of 10,233 oz, compared to 9,896 in Q2 2016. The addition of a third ball mill, a second flotation […]
As at the half year to 5 October 2016, Capital Gearing Trust’s net asset value per share was 3,647.0p compared to 3,382.0p as at the last year end on 5 April 2016, an increase of 7.8%. This compares with increases of 15.6% in the MSCI UK and of 17.9% in the sterling MSCI World Index. RPI […]
Gabelli Value Plus+ says that, over the six months ended 30 September 2016, a moderate rise of 6.4% in the S&P 500 Index was boosted by the pound’s weakness to a 18.1% return in sterling terms. The NAV total return, which was 17.2% during the period, slightly lagged this index. The share price total return during […]
I don’t know whether fund management legend Neil Woodford was in favour of Trump or Clinton, or wished a plague on both their houses, and nor do I care (writes Harvey Jones of Motley Fool). However, Donald Trump’s shock victory has given Mr Woodford something to celebrate, by applying much-needed balm to his Achilles’ heel. read more […]
Target Healthcare REIT Limited has exchanged contracts to acquire a purpose-built care home located in the town of Sutton-in-Ashfield, Nottinghamshire. The home will be acquired for approximately GBP5.6 million including acquisition costs. The transaction is expected to conclude by April 2017 once the build has been completed and the home has been fitted out to specifications. […]
NextEnergy Solar hopes to double in size and, as a first step, it is planning a £104m share issue. At 30 September 2016, NextEnergy Solar had net assets of £350.1m (up from £283.1m at 30 June 2016) and the NAV per share had increased from 98.7p to 100.4p over that period. They expect to publish […]
Caledonia Mining has reported adjusted EPS of US4.4c for Q3 16, a 59% increase on Q3 15, taking EPS for the year to date to US13.0c, from US7.2c in 2015. The improved performance comes on the back of a 23% increase year-on-year in gold production at the Blanket mine to 13.4koz, taking the total for […]
Jubilee Platinum Plc (JLP:AIM) Released results for the year ended 30 June 2016. Loss for the year was 3.67m vs 3.44m for 2015. Total comprehensive 2016 loss improved to (£1m) vs loss of (£7.94m) in 2015; due to exchange rate differentials on foreign operations. There was an improvement in gross profit at 865k vs 23k […]
Funding Circle SME Income Fund has published a set of accounts covering the period from 1 April 2016 to 30 September 2016. At the end of the period, the NAV was 99.64p, the share price 102.5p and the shares were trading at a premium of 2.9%. They say that the company has successfully deployed GBP151.9 million […]
British Empire Trust has announced its annual results for the year ended 30 September 2016. The company says that, during the period, its NAV total return per share was 31.0%, its benchmark return was 28.0% (the MSCI All Country World ex-US Index), whilst its share price total return was 34.3%, reflecting a narrowing of the […]
Oakley Capital Investments Limited has announced that it has increased its commitment to Oakley Capital Private Equity III (Fund III), the successor fund to Oakley Capital Private Equity II (Fund II) by €75 million, taking its total commitment to Fund III to €325 million. Oakley Capital Investments Limited originally announced its commitment to Fund III […]
Henderson Far East Income’s NAV just underperformed its benchmark by 2.2% over the year ended 31 August 2016. The net asset value total return was 32.1% whilst the share price total return was 33.4%. In local currency terms, the markets returned 11.3% highlighting the significance of the weakness of sterling pre and post the UK’s vote […]
Gem Diamonds Limited (GEMD:LSE) The company is on track to achieve full year production guidance at Letšeng, despite extreme weather disruptions. In Q3 2016: 24,388 carats were recovered at Letšeng, compared to 28,682 carats in Q2 2016. The weather conditions restricted access to the pits, therefore ore was sourced from surface stockpiles which resulted in a reduction […]
As M&G High Income nears the maturity date of its zero dividend preference shares (in March 2017), its board has been considering its future. Today they have announced that they intend to put forward proposals for a reconstruction of the company. They’ll publish more detailed proposals early in 2017. Closed-ended rollover into JPMorgan Elect Conscious […]
Ariana Resources Plc (AAU:AIM) The completion of a scoping study for the Tavsan Project in Turkey reveals excellent results. Tavsan is part of the Red Rabbit JV with Proccea Construction Co. and will be 50% owned by Ariana once mine construction at the Kiziltepe Sector is completed in Q4 2016. The Tavsan project is planned to be […]
The Board of Better Capital PCC Limited has received an update from the General Partner of the Better Capital Funds ahead of the release of the Interim Report to 30 September 2016. 2012 Cell NAV may fall by 14% Everest is expected to close FY16 with positive EBITDA better than prior year albeit, significantly below […]
Workspace’s EPRA net asset value per share was down 0.9% over the six months ended 30 September 2016, falling from 923p to 915p. Adjusted underlying earnings per share rose 15.2% to 14.4p as net rental income was up 6% to £38.0m. The interim dividend has been upped by 40% to 6.8p. Net initial yields shifted from 5% […]
