Fevertree helps power Standard Life Smaller Companies to another year of outperformance – Standard Life Smaller Companies says that, for the year ended 30 June 2017, its diluted net asset value total return was 35.0%, compared with a total return of 29.1% for the Numis Smaller Companies ex Investment Companies Index. The share price total return, calculated […]
This year’s summer lull is a bit busier than usual with Warehouse Real Estate Investment Trust (Reit) publishing a prospectus and running around trying to raise £80 million to £150 million to buy a portfolio of multi-let urban warehouse estates. I have been occupied on a new guide for investors interested in listed private equity […]
Civitas adds three supported living portfolios – Civitas Social Housing REIT has completed the purchase of three portfolios of specialist supported living for a total consideration of GBP5.8 million, comprising the freehold interest in 11 properties, with 52 tenancies. The portfolios are immediately income generating with an initial net yield in line with expectations and […]
A recent comparison of open-ended funds versus closed-ended investment companies suggests the latter are losing their edge on charges, but compelling reasons remain to opt for investment trusts, writes Jennifer Hill. Investment trusts have long been seen to offer superior performance to funds thanks to their ability to ‘gear’ investments, hold a fixed pool of […]
Investors’ insatiable appetite for income has pushed many innovative income funds to lofty premiums, but a host of opportunities remain. Jennifer Hill outlines five routes to pocket in flation-beating income. Investors are on the hunt for alternative sources of income, given the high valuations of many equity markets and poor value in bonds. ‘We’ve been looking […]
James Carthew: how the two social housing Reits compare Triple Point Social Housing (SOHO) is one of the recent crop of new issues in the burgeoning housing real estate investment trust (Reit) sub-sector. It raised £200 million in an oversubscribed issue at a time when rival launches struggled to meet their targets and some were […]
Triple Point Social Housing makes second investment – Triple Point Social Housing REIT says it has progressed well since its successful IPO in early August, which was supported by a broad range of institutional investors as well as by Places for People Group, one of the UK’s largest property and leisure management, development and regeneration companies. Shortly […]
Ground Rents to offer inflation linked alternative to doubling rents – On 2 August 2017, Ground Rents Income Fund issued a Corporate Update in light of media attention on ground rents and the launch by the Communities Secretary, Sajid Javid, of a consultation on proposals to amend leasehold legislation. The announcement advised that the Board, in […]
Central Asia Metals (CAML) the AIM-listed copper producer, has announced that it is in advanced talks with a third party which may lead to a reverse takeover transaction. At the company’s request, its shares were suspended this morning from trading on AIM and will remain so until either the publication of an admission document setting […]
Have equity income funds had their day? – Merry Somerset Webb on QuotedData research In the 1950s, the point of investing was simple. It was, says John Littlewood in his book, The Stock Market: 50 Years of Capitalism at Work, “to provide assets to match as closely as possible the liabilities stretching years into the […]
Amedeo Air Four Plus buys new plane for Thai Airways – Amedeo Air Four Plus, via its wholly-owned subsidiary, AA4P Mu Limited, reports the purchase of one A350-900 aircraft, bearing manufacturer’s serial number 130, on 31 August, 2017, placed on lease to Thai Airways International Public Company Limited for a term of 12 years. Following […]
Blue Capital Alternative Income evaluating options on discount – the company made a brief announcement on the morning of 1 September 2017 that just says: “The Company’s Ordinary Shares have traded at an average discount of more than 5 per cent. to the net asset value per Ordinary Share over the three month period ending […]
Syncona says NightstaRx files for IPO – Syncona Ltd, today notes that its portfolio company NightstaRx Limited (to be reorganised as Nightstar Therapeutics Limited) has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the “SEC”) for a proposed initial public offering, in the United States, of its American Depositary […]
Supermarket Income REIT buys Sainsbury’s superstore – Supermarket Income REIT has acquired the freehold of the Sainsbury’s Bybrook Superstore in Ashford, Kent, from National Farmers Union Mutual Insurance Society for GBP80 million (net of acquisition costs), reflecting a net initial yield of 4.5% after the next agreed RPI-linked rent review in September 2017. The store […]
Wolf Minerals (AIM: WLFE) has secured an additional £5 million in funding from major shareholder Resource Capital Fund VI to help it complete the operating turnaround plan at its Drakelands tungsten/tin mine. The key elements of the turnaround plan are modifications to the dense media circuit (Phase 1 completed and Phase 2 planned for 9 […]
Witan Pacific diversifies manager line up – The Board of Witan Pacific Investment Trust has announced changes it intends to make to the line-up of external delegated investment managers within its multi-manager structure. The initial structure will be approximately: Aberdeen Standard Investments 25% (previously 42%) Dalton Investments LLP 10% (new) Matthews International Capital Mgt. 40% (previously […]
NextEnergy adds two plants – NextEnergy Solar Fund Limited has announced the acquisition of two operating solar plants totalling 21.7MWp with an investment value of GBP26.4m Since IPO in 2014, NextEnergy Solar has now secured a portfolio of 50 solar PV assets with a total capacity of 505MWp and a total investment value of GBP581m. NextEnergy […]
John Laing Environmental buys anaerobic digestion plant – John Laing Environmental Assets Group has acquisition of Vulcan Renewables Ltd for a total consideration, including working capital, of GBP15.3 million. The acquisition, in partnership with experienced operator Future Biogas Ltd, is the Company’s first investment in the anaerobic digestion sector, further diversifying the Company’s portfolio of […]
Macau Property Opportunities escapes worst of Typhoon Hato – Macau Property Opportunities Fund Limited announces that the Company’s portfolio of properties has suffered minimal damage resulting from Typhoon Hato which caused widespread disruption and flooding in Macau on Wednesday. The company is fully insured for typhoon risk. The Manager has instructed the commencement of repair […]
Starwood European proposes changes to DCM and management agreement – The board of directors has announced proposals that relate to the discount-triggered realisation mechanism and realisation vote currently provided for in the Articles ), amendments to the investment management agreement with Starwood European Finance Partners Limited and the replacement of the existing carried interest entitlement […]
Greencoat UK Wind buys Corriegarth wind farm – Greencoat UK Wind PLC has acquired Corriegarth Wind Farm from Invenergy Renewables LLC for a total consideration of approximately GBP181 million. Corriegarth is located approximately 20 miles south west of Inverness on the eastern side of Loch Ness, and has a capacity of 69.5MW. Corriegarth was developed […]
James Carthew: Witan paves way for debt-laden Merchants One headline that caught my eye last week was Witan (WTAN) announcing it had borrowed £30 million at a rate of 2.74% fixed for 37 years. I think that might be a record, in terms of time to maturity, for the investment companies sector. For most of […]
Africa Opportunity tidies up share structure – The Board of Africa Opportunity Fund Limited has announced the creation and issue of Contingent Value Rights to holders of its Existing Ordinary Shares (details of which are set out below) and conversion of the outstanding C Shares into New Ordinary Shares. Africa Opportunity issued 29,200,000 C Shares […]
Hg Capital sells Sequel – HgCapital, the Manager of HgCapital Trust plc, has announced that it has sold Sequel Business Solutions, a provider of software and services to the Lloyd’s of London and the broader insurance markets, to Verisk Analytics (Nasdaq: VRSK), a leading data analytics provider serving customers in property/casualty insurance, natural resources, and […]
Shaftesbury buys Berwick Street development – Shaftesbury PLC, the Real Estate Investment Trust which owns a 14 1/2 acre portfolio in London’s West End, announces that it has entered in to a contract with PMB Holdings Limited to acquire a long-leasehold interest in 90-104 Berwick Street, Soho, London W1 at a price of GBP38.5 million. […]
LXi buys Motorpoint car showroom – The Board of LXi REIT has announced that the company has acquired the Motorpoint car showroom in Burnley, Lancashire. The purchase price for the Property is GBP5.7 million, reflecting a net initial yield of 6.5% (net of acquisition costs), which is expected to rise to over 7.0% following next […]
LXi buys long let supported living portfolio – LXi REIT has completed the acquisition of the freehold interest in a portfolio of regulated long-let supported living properties located in Essex and Somerset. The purchase price for this portfolio is GBP9.2 million, reflecting a net initial yield of 6.0% (net of acquisition costs to the company). Each […]
Supermarket Income REIT buys Bristol Tesco Superstore – Supermarket Income REIT has acquired the freehold of a Tesco Superstore, Lime Trees Road, Bristol, from a client of Aberdeen Asset Management for GBP28.5 million (net of acquisition costs), reflecting a net initial yield of 4.9%. The purchase has been funded out of the equity proceeds of […]
Scottish American’s deputy managers take charge – The Board of the Scottish American Investment Company has announced that James Dow and Toby Ross, previously Deputy Managers, have become Joint Managers of the fund. The Board said that it wished to extend its thanks to Dominic Neary, the former Manager of Scottish American, for his considerable contribution […]
