AEW UK REIT is spending £7.15m to buy Valley Retail Park. Valley Retail Park, Newtownabbey is located on the northern side of Belfast with good accessibility to the M2, M5 and A2. The site extends to circa 7 acres and the scheme provides 100,413 sq ft arranged over 7 modern purpose built retail warehouse units […]
Phaunos Timber Fund Limited has announced that agreement in principle has been reached with Rayonier, Phaunos’ joint venture partner in the Matariki Forestry Group, for Rayonier to provide a capital infusion for the repayment of all outstanding amounts under its existing NZ$235m credit facility and for general purposes. The investment by Rayonier into the Matariki JV […]
The Board of JPMorgan Global Emerging Markets Income Trust has announced the addition of Amit Mehta to the Company’s investment management team with immediate effect. The Company is currently managed by Omar Negyal and Richard Titherington, who are part of J.P.Morgan Asset Management’s Emerging Markets & Asia Pacific Equities team, which has members in offices across […]
JPMorgan Claverhouse beat the FTSE All-Share Index over the first half of 2015, posting a 4.2% return on net assets as compared to a 3.0% return on the benchmark. The discount to net asset value at which the Company’s shares trade widened out from 3.4% at the end of the last financial year to 6.6% […]
JPMorgan American just edged ahead of its benchmark in H1 2015 in what turned out to be a flat period for the US market – JPMorgan American’s net asset value return was 0.5% as compared to a 0.2% return on the S&P500 Index. The manager says that the portfolio benefitted from strong stock selection in the health […]
Randgold Resources’ H1 2015 earnings were US$1.10/share, down 20% from the corresponding period of 2014 as the company received a gold price US$91/oz lower than 2014, and despite increasing gold production (and sales). Gold production rose to 580 koz for the half year, with Q2 2015 production reaching a record 300 koz. Total cash costs […]
Kennedy Wilson Real Estate Europe, in releasing its interim results for half year ended 30 June 2015, have announced that the quarterly dividend is increasing by 25%, over the previous quarter, to 10p per share. The company say that this will be 40p per share annualised, which the board advise is a sustainable dividend level […]
Ferrexpo, the iron ore pellet producer with mines in the Ukraine, has reported a 45% fall in EBITDA for H1 2015, from the corresponding period of 2014, to US$176 million, with EPS down 44% to USc19.6. Despite an 8% increase in pellet production, to a record 5.8 Mt, and a 30% reduction in cash costs, […]
Miton Worldwide Growth, managed by Nick greenwood (pictured), has announced its annual results for the year ended 30 April 2015. During the year, the trust’s NAV per share grew by 8.5% to 181.63p whilst its share price grew by 8.9% beating the FTSE All-Share Index, which rose 7.5% during the same period. The discount narrowed marginally […]
UK-based precious metal consultancy group, Metals Focus, has estimated that at the current gold price of below US$1,100/oz, some 24%, or around 400 t, of annual gold production is being mined at a loss, using the all-in sustaining cost (AISC) measure. The consultancy bases its conclusion on its annual global cost curve, which represents some 1,650 […]
Foresight Solar Fund has announced its interim results for the half year ended 30 June 2015. The fund’s NAV increased from £209.8m to £277.9m (24.5%) although NAV per share fell 2.3% from 100.9p to 98.6p. Reported profit for the period was £5.38m and earnings per share was 2.32p. A second quarterly dividend of 1.52p is […]
Electra Private Equity has announced that it has agreed to sell its interest in ventilation systems manufacturer Nuaire to Polypipe Group in a deal valued at approximately £145m. On completion of the transaction, which is expected during August, Electra is to receive proceeds of approximately £72m. This represents an uplift of £24 million, or 50% on the […]
Over the year to the end of May 2015, Henderson Smaller Companies generated a 20.4% return on net assets and a 28.2% return to shareholders both of which compare well to a 10.4% return on the Numis Smaller Companies Index for the same period and the average returns for HSL’s peer group (14.3% on NAV […]
Xtract Resources has intersected a second high grade gold reef system (’Reef system B’) at the Colin mining area at its developing Chepica gold and copper mine, in Chile. The new system grades 3.9 g/t over a 4.1 m width in situ and to-date the company has developed 10 m along strike. Xtract believes that […]
The Board of Pacific Alliance Asia Opportunities has been worried about the fund becoming too small and believes a large number of shareholders want to swap their investment for one in the underlying feeder fund through which the fund invests. It is proposing therefore that the closed-end fund be wound up. they have called an […]
MedicX Fund Limited has announced that it has negotiated extended terms for the £50m private placement of loan notes issued in two tranches during August and December 2014. The renegotiation was facilitated by the original loan note arranger Independent Debt Capital Markets. The loan notes previously had a duration of five years maturing in August […]
John Laing Environmental Assets has bought two solar plants for £20.37m. Monksham Solar is located near Frome in Somerset, with a total generating capacity of 10.7MW and is accredited for 1.6 ROCs. John Laing Environmental Assets has bought all its ‘B’ shares plus other economic interests from the founding shareholders and Green Nation, the developers of […]
Cambium Global Timberland’s net asset value on 30 April 2015 was 23p per share compared with 40p as at 30 April 2014, a fall of 42.5%. Currency movements took off 8.5%, changes to the valuation of the timber assets and related provisions took of 26.3% and net expenditure on forestry and other costs accounted for the remaining 7.7%. £5m […]
The trust formerly known as Martin Currie Pacific has announced today that, following shareholder approval at the AGM on 6 July 2015, the company’s name has now changed to Martin Currie Asia Unconstrained Trust. The Company’s ticker code “MCP” and ISIN will both remain unchanged. Martin Currie Pacific name change takes effect : MCP
Fidelity European Values, managed by Sam Morse (pictured) has announced its results for the six months ended 30 June 2015. During the period, the trust’s NAV total return was 6.1%, which was ahead of that of the FTSE World Europe (ex UK) Index of 4.1%. The share price total was even further ahead at 9.8% reflecting […]
European Assets Trust, managed by Sam Cosh (pictured) has published its interim results for the six-months ended 30 June 2015. During the period, the trusts share price and NAV total returns (23.3% and 22.9% in Euro terms respectively) beat the Euromoney Smaller European Companies (ex UK) Index, which returned 18.5% during the same. Not surprisingly, […]
Ashmore Global Opportunities has announced that, as part of the managed wind-down approved by shareholders in March 2013, it will return 129.49p and 131.77 US cents per GBP and USD share respectively, on 7 August 2015, by way of a compulsory partial redemption of shares. The redemption values are calculated by reference to the 30 […]
Intu Properties has released its interim report for the six months ended 30 June 2015, which show a 1.6% increase in NAV during the period (from 379p to 385p). Underlying earnings per share increased by 6% (from 6.4p to 6.8p per share), whilst a £162 million (1.9 per cent) revaluation surplus and the acquisition of Puerto Venecia […]
Antofagasta has agreed to acquire a 50% interest in Barrick Gold’s Zaldivar copper mine, in Chile, for US$1,005 million in cash. Payment terms are US$980 million in cash upon closing and five annual payments of US$5 million per year, starting in 2016. Antofagasta will fund the acquisition from its balance sheet. As at 31 December […]
Fidelity Japanese Values has announced that Nicholas Price (pictured) will be taking over, as manager of the trust, from 1 September 2015. He replaces Shinji Higaki who has managed the portfolio for eight years. Nicholas has over 20 years’ experience in the Japanese equity market. He joined Fidelity’s Tokyo office in 1993 as a research analyst […]
intu Properties results for H1 2015 show a 4% total return – the adjusted diluted net asset value rising from 379p to 385p and underlying earnings per share rising from 6.4p to 6.8p. The interim dividend has been maintained at 4.6p. They outperformed the IPD – their property revaluation surplus was 1.9% like-for-like, partially attributable to […]
Aberforth Smaller Companies interims for the six months ended 30 June 2015 show the fund generating a total return on net assets of 15.3%, well ahead of the 11.8% return on the Numis Smaller Companies ex Investment Companies Index. The return to shareholders was 12.9% as the discount widened from 7.7% to 9.8%. The interim […]
Mithras results for the first half of 2015 show the NAV falling from 162.1p to 158.4p meaning that the NAV total return was also negative -1.7%. The return to shareholders was 3.5%. these numbers compare to a 3.5% return on the FTSE All-Share Index. the Company completed its fourth tender offer in June 2015, buying back a […]
Foreign & Colonial’s results for the first half of 2015 show it delivering a return on net assets of 4.1% and a return to shareholders of 4.0%. By contrast the FTSE All-World Index returned 2.2%. The first interim dividend of 2.3p for 2015 will be paid on 3 August. Second and third interim dividends of […]
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