JPMorgan US Smaller Companies reported an increase of 20.5% in the Company’s net asset value during the six months’ period to 30th June 2016. This represented an outperformance of the benchmark index, the Russell 2000 index in sterling terms, which rose 12.6%. The NAV return was not reflected in the share price which increased less than 2.0%. The discount […]

Baker Steel Resources Trust says that, during the first six months of the year, the unaudited net asset value per share rose 15.7% to 38.8p in a recovering market for mining shares, with the Euromoney Global Mining 100 Index rising 58.9% in Sterling terms. The most significant factor in the recovery of the Euromoney Global […]

LXB Retail Properties Plc reports that it has exchanged contracts for the unconditional sale of its investment at Kingsmead Stafford to Triple Jersey Limited, a private investment vehicle. The Group has previously exchanged an agreement with WM Morrison Supermarkets plc to surrender its leasehold interest in the Kingsmead site and completion of the surrender will […]

Prospect Japan reports a slight increase in its NAV per share from US cents 135.53 at 31 December 2015 to US cents 137.64 at 30 June, 2016. It underperformed over the period with a gain of 0.7% (based on published NAV) as against the MSCI Japan Small Cap Index (Total Return) for the six months of […]

Symphony International’s unaudited Net Asset Value at 30 June 2016 was US$712.5 million, which is 4.3% and 2.4% higher than at 31 March 2016 (US$683.2 million) and 31 December 2015, respectively. NAV per share was US$1.35 compared to US$1.29 and US$1.32, respectively, on the same dates. On a fully-diluted basis (adjusting for in-the-money vested options), […]

The good times are returning for shareholders in Edinburgh Dragon, an investment trust that seeks to generate returns from investing across diverse Far Eastern stock markets. After making a number of mistakes two to three years ago, the management team, led by Singapore-based Adrian Lim, is back on form. Over the past six months, the […]

….according to Capita, just 20 firms account for 70 per cent of the dividends paid in the UK market by value. So the majority of the funds you are invested in rely on the same few dividend producing firms to deliver the incomes they pay you. Look at the investment trust market and you will […]

Advisers could consider using investment trusts for their clients’ property exposure. read more here

Both residential and commercial property funds have their attractions and potential issues. Not all open-ended commercial property funds are built the same and while there can be some advantages, there are also disadvantages, of which clients should be made aware. read more here

What sort of investment strategy should investors adopt when contemplating property funds? What the Brexit-induced woes have highlighted is advisers should make sure what sort of investment strategy clients need when contemplating property as part of a portfolio. read more here

UK Commercial Property reports that its NAV per share at the end of the period was 86.5p, just 0.2p lower than the level at 31 December 2015 resulting in a NAV total return of 1.9% for the six month period to 30 June 2016. On an EPRA basis, adjusting for the effect of their interest rate swap transaction, […]

In the six month period ended 30 June 2016, Threadneedle UK Select’s net asset value total return was 1.4%, compared with the 4.3 % total return from the FTSE All-Share Index, the benchmark against which the Investment Manager’s performance is measured. Earnings per share for the half year amounted to 4.16p (30 June 2015: 8.21p).  The Board […]

Aberdeen Asian Income’s net asset value returned 16.9% in sterling terms over the six months to 30 June 2016, outperforming the MSCI AC Asia Pacific ex Japan Index, which returned 13.0%. Against this backdrop, the Ordinary Share price total return rose by 16.6% and the discount over NAV per Ordinary share widened from 6.8% at […]

Apax Global Alpha’s investment performance was broadly flat in H1 2016. Against a backdrop of volatile markets, Total Return for the period was -0.6% and on a constant currency basis the Total Return was +0.6%. In the year since 30 June 2015, adjusted NAV per share has grown 2.3% to EUR1.82. In Sterling terms, adjusted […]

City Merchants High Yield says that, in the six months to 30 June 2016, its net asset value total return was +2.2% which compares with an average total return of +3.6% from the funds in the Investment Association Sterling Strategic Bond sector. The Board believe that the action the portfolio managers took which successfully protected the NAV […]

Murray International says its net asset value total return, with net income reinvested, for the six months to 30 June 2016 increased by 30.1% compared with a total return of 10.0% on the Company’s benchmark (40% FTSE World UK and 60% FTSE World ex UK).  Over the six month period the share price total return increased […]

Empiric Student Property has acquired the freeholds of three operating properties, two in London and one in Exeter, with a total of 213 beds, for an aggregate cash consideration of GBP21.5 million (excluding acquisition costs) from CBRE Global Investors. Isca Lofts, Exeter – GBP4.73 million Isca Lofts, Longbrook Street, Exeter, is a direct-let student accommodation […]

NB Global Floating Rate Income reports that for the six months ended 30 June 2016 its total return per share was 3.62% for the Sterling Ordinary Shares and 3.54% for the U.S. Dollar Ordinary Shares. During the same period the share price return was -0.76% per Sterling Ordinary Share and -1.08% per U.S. Dollar Share reflecting […]

Over the first half of 2016 JPMorgan American underperformed its benchmark, returning 10.4% against 14.3% for the US equity market. Moreover, almost all of that return came from a fall in sterling relative to the US dollar. The interim dividend has been increased to 2.25p. The Board says “Garrett’s portfolio is made up of companies […]

The Board of Ground Rents Income Fund has announced that, on 12 August 2016, it agreed two amendments to the property adviser agreement with Brooks Macdonald Funds Limited (the investment adviser). At the moment, the adviser collects ‘Consent Fees’ and ‘Notice Fees’ from leaseholders on behalf of the fund. ‘Consent Fees’, which are levied by the freeholder,  are typically […]

The net asset value of Princess Private Equity Holding Limited increased by 5.8% over the first half of 2016 to end the reporting period at EUR 9.78 per share (adjusted for the first interim dividend of EUR 0.27 per share distributed in June). As of the end of the reporting period, the 50 largest direct portfolio […]

Over the six months to the end of June 2016, RIT Capital Partners returned 3.6% in NAV terms. A reduction in the premium from 6.9% to 2.0% meant that the share price return was negative, -1.2%. RPI+3% per annum worked out as 2.5% for the period and the return on the MSCI AC World Index […]

Foresight Solar Fund Limited has published results for the six months ending 30 June 2016. The NAV per Ordinary Share increased to 99.3 pence from 99.0 pence at 31 December 2015. The increase incorporates a 3.7 per cent. fall due to the continued reduction in their power price forecasts. Foresight has incorporated two further falls in […]

Derwent London has announced interim figures covering the six months ended 30 June 2016. Its EPRA net asset value per share increased by 1.8% to 3,598p from 3,535p at 31 December 2015. Net rental income increased by 8.5% to GBP72.6m (from GBP66.9m in the equivalent period in 2015). This fed through into EPRA adjusted profits before tax […]

Ecofin Water & Power Opportunities held its continuation vote on 24 June 2016, which was approved by shareholders on the basis that the Board would implement its reconstruction proposals. under these, shareholders would be: issued with shares in Ecofin Global Utilities and Infrastructure Trust, a newly incorporated investment trust that would invest in listed global utilities […]

CatCo Reinsurance Opportunities has announced interim results. The NAV return for the Ordinary Shares for the first six months of 2016 was 4.86 per cent benefiting from the release in the first quarter of 2016 of the loss reserve relating to the 2015 UK flood Side Pocket Investment (see below). The NAV return for the […]

Over the year to 31 May 2016, Diverse Income Trust’s NAV per share rose from 87.03p to 91.02p (+4.6%). This compares with a fall in the FTSE All-Share Index of 9.7% – small cap.s outperformed – the FTSE SmallCap (excluding Investment Companies) Index ended the year to 31 May 2016 down just 2.5% and the FTSE AIM All-Share […]

HgCapital, the Manager of HgCapital Trust plc (“The Trust”), today announces an investment in Mobyt, a provider of Application-to-Person SMS services to enterprises, headquartered in Italy, subject to regulatory approval. The terms of this transaction have not been disclosed. HgCapital Trust plc will invest in Mobyt, alongside other institutional clients of HgCapital, who will participate through […]

BlackRock World Mining experienced a strong recovery in its net asset value during H1 2016 yet lagged its benchmark index by 4.4%. The first six months saw the mining sector rebound, shrugging off  a difficult start to the year when world equity markets took fright on heightened concerns over global economic growth. The Euromoney Global Mining […]

Witan Investment Trust has announced results for the six months ended 30 June 2016.  During the first half of 2016, the Company’s net asset value total return was +6.4% compared with a benchmark return of +7.7% – reflecting underperformance of 1.3%. Excluding changes in the fair value of the Company’s debt, the NAV total return […]