Project Finance Investments (soon to be renamed as GCP Asset Backed Income Fund Ltd) has published its first set of figures since listing (covering the period from 7 September 2015 to 30 June 2016). At the end of the period the NAV per ordinary share was 99.47 pence and the NAV per C share was 97.62 pence. The […]
ICG Enterprise Trust (previously Graphite Enterprise Trust) has announced its interim results for the six months ended 31 July 2016. The period is the first six months under the new manager ICG Alternative Investments. The company says that the net asset value, as at 31 July 2016, is £566m million or 798p per share (31 […]
Summit Germany has announced its interim results for the six months ended 30 June 2016. During the period, the company’s EPRA increased by 1.2% to €432.6m (31 December 2015: €427.5m). In terms of the company’s financial performance, net rental income increased by 31% to €28.9m (first half of 2015: €22.1m, full year 2015: €49.6m), whilst […]
John Laing Environmental is pleased to announce that it has entered into an agreement with Energiequelle GmbH (“Energiequelle”) to acquire 100% of the Energie Eolienne de Plouguernevel wind farm. Following the acquisition of Parc Éolien Le Placis Vert wind farm earlier this year, this is the second project John Laing Environmental is acquiring from Energiequelle. The consideration […]
When Jupiter UK Growth changed its name and investment policy the Board advised that the high watermark used to calculate any future entitlement to a performance fee for the manager would be reset in order to fairly incentivise the new portfolio manager pursuant to the company’s new investment strategy. At the same time the base annual […]
Gemfields, the AIM-listed emerald, ruby and sapphire producer, has reported profits for the financial year ended 30 June 2016 up 91%, to US$23.5m, from the previous year. EPS doubled to US$0.02. Revenue increased by 13%, to US$193.1m. The biggest increase came from emerald sales, rising from US$64.9m in FY2015, to US$101.2m in FY2016 with record […]
HarbourVest Global Private Equity has decided to consolidate its listing on the Main Market of the London Stock Exchange and has applied to delist from Euronext Amsterdam. This delisting is expected to take effect on 24 October 2016, with the last trading date being 25 October 2016. It is intended that subsequent to this, the […]
Schroder UK Mid Cap Fund has announced that Jean Roche, a fund manager in Schroders’ Pan-European Small and Mid Cap team, has been appointed as co-portfolio manager, joining Andy Brough, with immediate effect. This follows Rosemary Banyard’s retirement earlier this year. Jean joined the team in January 2016 from Hargreave Hale where she was most recently a […]
IC Top 100 Fund SVG Capital (SVI) has received a takeover offer from global private equity company HarbourVest and shareholders in possession of more than half the shares are backing the offer. Only 50 per cent of SVG’s shares need to vote in favour for the deal to go ahead. SVG’s board is opposing the […]
The Board of Alternative Asset Opportunities PCC Limited (Traded Life Interests) announced on 13 September 2016 that it had conditionally agreed to sell 71 of the Company’s 80 policies for a total cash consideration of $40.0 million, subject to adjustment. The disposal requires changes to the company’s current investment objective and policy which are material […]
Eastern European Property’s net asset value at 30 June 2016 was GBP15.7 million, equivalent to 100.79p per share (31 December 2015: GBP15.8 million and 101.46p per share). They are reporting net income after tax for the period ended 30 June 2016 of GBP0.3 million, representing earnings per share of 2.24p. The share price decreased by 1.25p during the period from 50.75p at 31 December […]
Highbridge Multi-Strategy Fund has published a circular in connection with a tender offer for the company. The board has the power to offer shareholders quarterly cash exits, at NAV less costs, and the first such tender offer is to take place in October 2016. The company expects that tendering Shareholders will receive most of the […]
Schroder Asian Total Return has published a circular to convene a meeting at which shareholders will be asked, amongst other things, to approve the reissue of treasury shares at a discount. The special resolution would give the directors the authority to reissue up to 7,294,914 ordinary shares from treasury (representing approximately 10 per cent of the […]
Qatar Investment Fund last rejigged its fee arrangements on 1 November 2013. The new arrangement was put in place for three years. The terms were a reduced management fee of 1.05% per annum of the net asset value, calculated monthly and payable quarterly in arrears, with such management fee reducing further to 1.0% from 1 […]
Jupiter US Smaller Companies has published results for the year ended 30 June 2016. The NAV per share increased by 8.7% to 787.3p in the twelve months to 30 June 2016. This compared to a gain of 8.1% in the benchmark, the sterling adjusted Russell 2000 Index. In dollar terms, the Russell 2000 Index of […]
JPMorgan Mid Cap has published results for the year ended 30 June 2016. The end of the period was marked by the referendum. The Mid Cap index fell just over 15% in a period of just five business days, resulting in a benchmark return for the year to 30th June 2016 of -5.7%. The investment managers tried […]
Duet Real Estate Finance Limited has announced its half-yearly results for the period from 1 January 2016 to 30 June 2016. A total of 14.93 pence per share (period to 30 2015: 23.51 pence) has been returned by way of B share issues and redemptions in the six months ended 30 June 2016. In August […]
Over the year ended 30 June 2016, the sterling return of the MSCI All Countries World Index was 13.3% JPMorgan Global Growth & Income’s total return on net assets was lower than the benchmark, at 8.2%. There was a sharp widening of the discount from 6.9% at the start of the year to 14.4%, notwithstanding an active policy […]
During the six months to 30 June 2016, Schroder Asian Total Return produced a net asset value total return of 15.8%, outperforming both the MSCI AC Asia Pacific ex-Japan Index, which produced a total return of 12.9%, and the peer group average NAV total return of 14.5%. If this level of performance continues, a performance fee will […]
Mercantile’s net asset value total return in the six months to 31st July 2016 was -1.0%, compared to a return of +5.7% from its benchmark index, the FTSE All-Share, excluding FTSE 100 constituents and investment trusts. The share price return was -4.0%. A second interim dividend of 10.25 pence per share has been declared. Together with the […]
Jupiter UK Growth has published its first set of accounts since its transformation into a UK focused trust covering the year ended 30 June 2016. The new strategy began to be implemented immediately following the general meeting of shareholders on 18 April and most of the changes in the company’s investment portfolio were accomplished by […]
VPC Specialty Lending Investments PLC has announced its unaudited half-yearly financial results for the period ended 30 June 2016. During the period under review, it delivered a total NAV return of 1.51% and paid quarterly dividends amounting to 3.5p per share. The vast majority of investments have exhibited credit losses in line with expectations. However, […]
Sanditon Investment Trust has announced its annual results for the year ended 30 June 2016. During the year, the company provided an NAV total return of 2.7%, modestly outperforming the FTSE All-Share, which returned 2.2%. However, a narrowing of is premium to NAV, from 3.4% at 30 June 2015 to 1.0% at 30 June 2016, […]
Macau Property Opportunities Fund’s portfolio has registered a drop in value for the second consecutive year – a consequence of the continued decline in Macau’s gaming revenue and its slowing economy, largely attributable to China’s anti-corruption campaign. For the year in review (12 months to 30 June 2016), Macau Property Opportunities Fund’s portfolio of properties […]
Phoenix Spree Deutschland sat the first half of 2016 saw further growth in rents and property values, resulting in an EPRA NAV per share total return of 7.8% for the half year. This puts the company well on track to achieve its target annual return per share of 8-10%. The Board is pleased to declare a […]
Globalworth Real Estate Investments has announced its interim results for the six months ended 30 June 2016. The investment manager says that, during the first half of 2016, they focused on organically growing the Company, mainly by concentrating their efforts on the company’s development programme, optimising the capital structure and improving the occupancy of the […]
Reconstruction Capital II has announced that its 25.4% stake in publicly quoted Romanian dairy company, Albalact, have been acquired by Lactalis at a price of RON 0.5252 per share (the company’s stake comprised 166,100,478 shares). The acquisition follows a voluntary public offer by Lactalis for Albalact SA previously announced on 5 August 2016. As a […]
Strategic Equity Capital, managed by Stuart Widdowson (pictured), has announced its annual results for the year ended 30 June 2016. During the period, the company provided an NAV total return of -8.7% and a share price total return of -22.4%. In comparison, the FTSE Small Cap Index declined by 3.7%. Richard Hills, the trust’s chairman, says […]
City of London Investment Trust reports that, in a flat year for equity returns its net asset value total return was 3.1%, ahead of each of the average for the AIC UK Equity Income sector, the UK Equity Income OEIC sector and the FTSE All-Share Index (by 0.8%, 4.8% and 0.9% respectively). The FTSE 100 Index […]
Jupiter European Opportunities’ results for the year ended 31 May 2016 have been published. The total return on the net asset value per share was 0.8 per cent. during the twelve months under review, which compares with a fall of 3.7 per cent. in the Company’s benchmark, the FTSE World Europe ex UK Index during […]
