M&G High Income Investment Trust has announced results for the year ended 31 May 2015. On a net asset value basis, each Package Unit delivered a total return of 8.8% over the 12 months to 31 May 2015. This was above the returns of the FTSE 350 Higher Yield Index and the FTSE All-Share Index, which […]
Aberforth Geared Income has announced results for the year ended 30 June 2015. The return on the portfolio for the period was 15.4% which compares well to a 2.6% return on the FTSE All-Share Index and 10.4% on the Numis Smaller Companies Index (excluding investment companies). The return due to the zeros was 6.75% so […]
British Land has announced that it has exchanged contracts for the sale of 39 Victoria Street, SW1 to Singaporean property company Ho Bee Land for a gross purchase price of £144m (net price of c. £139m after deduction of rent free top up). Ho Bee Land is quoted on the mainboard of the Singapore Exchange […]
Riverstone Energy reports a 2.25% uplift in its NAV for the six months ended 30 June 2015. They say assets at the end of the period were worth $1.244bn or $16.36 per share. they invested another $180m over the period taking the amount invested to 46% of their available capital. Commitments in the period totalled […]
BBGI has signed a Sale and Purchase Agreement with John Graham Holdings Limited to acquire 100% of the equity and subordinated debt interests in two educational PPP projects in Northern Ireland. Belfast Metropolitan College is an educational campus comprising two five-storey teaching facilities and a two-storey engineering facility with associated car parking and a landscaped […]
Law Debenture beat the FTSE All-Share Index over the first half of 2015 but the share price weakened. The NAV total return was 3.8% vs. 3% for the index and the share price return was -1.6%. The interim dividend has been increased from 4.7p to 5.2p. The report says the stocks that added the most […]
Antofagasta’s copper production in H1 2015 was 303.4 kt, almost 13% lower than the same period in 2014 primarily due to lower grades (expected) and lower throughput at the Los Pelambres mine, Chile, where the company lost 8 kt of copper production in Q1 2015 as a result of disruption caused by protestors. At the […]
Brunner’s performance over the six months ended 31 May 2015 was 3% better than its benchmark as it returned 9.8% vs. 6.8% for its composite benchmark (50% FTSE All-Share, 50% FTSE World Index ex UK). The dividend has been increased from 6.1p to 6.4p. The statement says “Performance benefited from positive stock selection in Consumer […]
Candover Investments has announced a partial realisation of Stork BV with the sale of Fokker Technologies Group BV for €706m. Arle Capital Partners has agreed to sell Fokker, a subsidiary business of portfolio company Stork BV, to GKN. Fokker is a specialist Tier 1 supplier to the commercial, military and business jet markets. With almost 5,000 employees […]
Greencoat UK Wind has published results for the first half of 2015. Over the period the NAV rose by 0.2%. Dividends totalling 3.13p per share were declared for the period. High winds meant that electricity generation was 10% ahead of expectations at 408GWh. This helped them generate cash of £29.2m and pushed the dividend cover […]
Aquarius Platinum’s attributable PGM production from its two operating mines and one tailings retreatment plant rose 6% in the June 2015 quarter compared with the June 2014 quarter, to 88.8 koz. Most of this increase was due to a 6% rise in production at its primary Kroondal mine, to 56.0 koz (attributable, 50%-owned), a record […]
Bluefield Solar has acquired two UK-based sub-5MWp (Megawatt Peak) solar photovoltaic (“PV”) assets. The two assets are a 4.79 MWp plant in Cornwall and a 4.98MWp plant in Norfolk. They are being acquired for a total consideration of £11.22m, including transaction costs and working capital. Each project is eligible to qualify under either the Renewable […]
Polar Capital Global Financials beat its benchmark over the six months ended 31 May 2015 generating a return on net assets of 8.1% as compared to 4.9% on the MSCI World Financials Index. The share price total return was 7.6% as the discount widened to 8.3%. The interim dividend is 1.85p up from 1.75p last […]
Marwyn Value Investors L.P., the Master Fund through which Marwyn Value Investors makes its investments, intends to subscribe as a cornerstone investor for new ordinary shares in Gloo Networks plc, which has announced today its intention to float on the AIM Market of the London Stock Exchange plc. Gloo Networks is a technology company that […]
Kennedy Wilson Europe says it has completed the acquisition of nine south east offices from an entity affiliated with Apollo Global Management LLC. The underlying real estate is valued at £211m at completion, reflecting a yield on cost of 8.0%. The corporate acquisition was funded from the Company’s cash resources. Area Location sq ft Tenant (%) […]
F&C Managed Portfolio has published results for the year ended 31 May 2015. The NAV total returns for the Income shares were 10.0% and for the Growth shares 12.8% compared to the FTSE All-Share Index of 7.5%. The investment company sector, as measured by the FTSE Equity Investment Instruments Index, returned 13.0%. The annual dividend increased […]
Duke Royalty shareholders approved the strategy changes proposed at the recent AGM and the fund’s new investments will now be focused on royalty streams. The NAV of the legacy resources assets fell by 69% over the year to the end of March 2015, finishing the period at 7p. the Board initiated a number of cost […]
Petra Diamonds produced 3.2 million carats in the financial year ended 30 June 2015, up 2% from the previous year and in line with company guidance. The company expects production to increase to 3.3-3.4 million carats in FY2016 and targets production of 5.0 million carats by FY2019 as mining at the Cullinan mine moves to […]
The value of Kubera Cross Border Fund’s net assets decreased from $56.9m to $54.8m during the six month period, which ended on 30 June 2015. The Fund’s net asset value per share decreased by 3.8% from $0.52 to $0.50. The company reckons the decrease in NAV is primarily attributable to the depreciation of Indian Rupee vis-à-vis the […]
EPE Special Opportunities has paid £8.6m to buy the Limited Partnership interest held by DES Holdings IV(A) LLC in ESO Investments 1 LP (the Limited Partnership through which it holds most of its existing portfolio). After the deal EPE Special Opportunities is the only investor in ESO 1. The £8.6m is being paid as £5.7m now and £2.9m before 30 September 2015. […]
Marwyn Value Investors revealed its plans for the bulk of the money it raised the other day by selling down its investment in entertainment one. Marwyn is investing £55m in Zegona Communications to help fund that company’s acquisition of Telecable Capital Holding. This deal will take Marwyn’s investment in Zegona up to £67m. They will […]
Scottish American interims covering the six months ended 30 June 2015 show the fund beating the FTSE All World Index with the net asset value total return being 4% vs. 2.2% for the index. Shareholders did even better as the fund moved to trading on a large premium (currently over 8%); the return to shareholders […]
The three Doric Nimrod Trusts have announced results for the year ended 31 March 2015. Doric Nimrod Air One says everything is going according to plan, Emirates have made all payments as they fell due and the company continues to pay quarterly dividends of 2.25p. As at 31 March 2015, the average of three external valuations showed a […]
Acacia Mining’s H1 2015 earnings fell 64% from H1 the previous year to US$14.8 million. Despite increasing gold production by 6%, to 367.3 koz, the combination of a lower received gold price (US$1,200/oz against US$1,290/oz previously) and higher All-in Sustaining costs (ASIC) (up marginally to US$1,133/oz) were principally responsible for the fall in earnings. Results were also […]
Following Nitin Bajaj’s appointment as manager, his repositioning of its portfolio and the change of benchmark, the Board has also decided to review the management fee and is shifting from a flat fee of 1% on gross assets to a tiered fee of 0.9% on the first £200m of gross assets and 0.85% on the balance. FAV […]
Over the six months ended 31 May 2015, BlackRock Commodities Income generated a negative return on net assets of -3.5%. The return to shareholders was -7.1%. The Euromoney Mining Index was off 5.8% and the MSCI World Energy index was -1%. Two quarterly interim dividends totalling 3p have been declared for the period, 0.8% higher […]
Damille 2’s interims, covering the six months ended 31 May 2015, show the NAV rising by 7%. They also returned £9.7m to shareholders via a redemption offer, bringing the total returned to shareholders to date to £19.2m. They say they have been taking advantage of market weakness to add to holdings. Since the Period end […]
LMS Capital’s interims for the first half of 2015 show its NAV rising by a penny to 94p. They sold off investments worth £26.6m including the sale of five fund positions in the secondary market which raised £9.2m after costs; ChyronHego Corporation (one of our US quoted investments) was bought by Vector Capital – the cash proceeds […]
Athelney Trust’s interim figures show its NAV total return was 6.4% over the six months ended 30 June 2015, behind returns on small cap indices with the FTSE Smaller Companies, Fledgling and Aim All-share being up by 7.1, 15.6 and 8.2 per cent respectively There is much musing on the economy in the report – […]
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