Bankers Investment Trust has announced decent figures for the six months ended 30 April 2015 with the fund generating a return on net assets of 13.3% and a return to shareholders of 13.9% as compared to a 9.2% return on the FTSE All-Share Index. The Chairman’s statement points out that this was a good period for returns […]
Over the year to the end of April 2015, F&C Global Smaller Companies generated a 16.2% return on net assets and a 17.6% return to shareholders. Their benchmark (MSCI All Country World ex UK Small Cap Index and Numis UK Smaller Companies (excluding investment companies) Index in a 70%/30% proportion) returned 14.8%. The full year […]
Real Estate Investors is buying six properties using the proceeds of its recent fund raising. they are spending £24.95m on: 40 St Paul’s Square, Birmingham: a prime office investment in the Jewellery Quarter of Central Birmingham, producing rent of £399,824 p.a. Tenants include Willis Group, ISG Regions, BHP Design, OLR (UK) Limited and Coltham Developments. Bearwood […]
NextEnergy Solar is spending £22m to acquire two additional solar plants. £11.1m will buy a 9.3MWp solar plant at Bowerhouse in Somerset and £10.9m will buy an 8.5MWp plant at Wellingborough in Northamptonshire. Bowerhouse was connected to the grid on 27 March 2015 and is to be accredited under the 1.4 Renewable Obligation Certificate (“ROC”) […]
Fresh on the back of their Jiadeli victory, ARC Capital has announced that, on 16 June 2015, the China International Economic and Trade Arbitration Commission (“CIETAC”) unanimously ruled that the Orient Home Group shall be required to refund Shanghai C.P. Jing Cheng Enterprise Development Co. Ltd. (a subsidiary of ARCH) the entire RMB480m deposit (equivalent […]
Kuala Limited has announced results for the year ended 31 March 2015. This period includes its conversion from being a fund focused on investments in China to being a fund focused on investments in the natural resources and energy sector, particularly in Africa. The company’s last Chinese investment (Wan Wei) has been struck off and is […]
Invesco Income Growth’s results for the year to the end of March 2015 show the fund outperforming the FTSE All-Share Index by 3.7%, returning 10.3% to the index’s 6.6%. The return to shareholders was 9.9%. The total dividend for the year was 10.1p, up 2.5% on the 9.85p paid for the year ended 31 March 2014. […]
JPMorgan Japan Smaller Companies has announced that, for the year ended 31 March 2015, the total return on net assets was 30.9%, well ahead of the return of the Company’s benchmark, the S&P/Citigroup Japan Extended Market Index, which rose by 22.4%. Over the same period, the Company’s share price increased by 35.9%, reflecting a narrowing of the discount […]
Dexion Absolute has announced a redemption offer for up to 25% of its outstanding shares. Anyone who opts for that will probably have to wait until Q1 2016 to see any money (as they liquidate the investment in Aurora Offshore Fund II) and then will have to wait longer for the balance of their investment given […]
ARC Capital has received the award made by the Beijing Second Intermediate Court in respect of the Jiadeli Holdback. HNA Group has paid the company RMB93m and ARC Capital Holdings has waived the interest due. After costs the company ends up with the equivalent of $13m – they might have to pay some tax on […]
JZ Capital is investing $22m in K2 Towers, an owner and operator of wireless communication towers. Thety did the deal alongside private equity group, Orangewood Partners. K2 was founded in 2009. Its portfolio of telecom towers runs across the US and Puerto Rico. GThey reckon their team has invested in over 2000 towers over the […]
Templeton Emerging Markets lagged its benchmark index, The MSCI Emerging Index, by 3.6% over the year to the end of March 2015, returning 9.6% against 13.2% for the benchmark. In addition the discount widened from 10.9% to 13.3% leaving shareholders with a return of 6.9%. The dividend was increased from 7.25p to 8.25p. The manager’s report […]
Fidelity China Special Situations has announced results for the year ended 31 March 2015 that show the the Company’s NAV increased by 45.3% and the share price by 39.9%. The NAV outperformed the Benchmark Index, the MSCI China Index in sterling terms, by 6.0%. The dividend is being increased from 1.15p to 1.3p. The biggest […]
SEGRO has announced that it will take full control of its Heathrow Bog Box Industrial & Distribution Fund joint venture with M&G. The Fund was formed as a 50/50 joint venture between Brixton PLC and M&G Real Estate in 2004 to own two assets in the vicinity of Heathrow Airport: Axis Park and Heathrow Corporate Park. SEGRO acquired […]
Over the year to the end of March 2015 New India Investment Trust delivered a 46.3% return on net assets, well ahead of the 35.6% return on the MSCI India Index. he return to shareholders was even better at 56.4%. The managers report says Kansai Nerolac Paints did particularly well on the back of robust earnings […]
Over the six month period ended 30th April 2015 JPMorgan Russian’s net asset value on a total return basis declined by 2.7% and the Company’s return to shareholders on a total return basis was a negative 2.2% over the period, which led to little change in the discount to net asset value at 14.1%. The performance […]
Over the six months ended 30 April 2015 BlackRock North American Income delivered a 5.7% return on net assets and a 6.7% return to shareholders. By contrast the return on the Russell 1000 Index was 7.1%. The Board, chaired by Simon Miller (pictured), felt the need to stress to the manager that performance against the index […]
Real Estate Credit Investments has published results for the year ended 31 March 2015. Over this period they generated a return on net assets of 12.3% as the NAV rose from 154.1p to 162.3p. They expanded their real estate loan portfolio considerably, from £51m to £89m, making nine new commitments totalling £60m – currently they […]
Ediston Property Income is spending £11.95m to acquire the Abbey Retail Park in Daventry. The yield will be 7.80% when the Park is fully let. The property provides 63,160 sq. ft. of retail warehousing, anchored by Homebase, with parking for 386 cars, on a five acre site. The weighted average unexpired lease term is just […]
Seneca Global Income & Growth has published results for the year ended 30 April 2015. Over that period the total return on net assets was 9.6% and the total return on the share price was 9.1% – both comfortably ahead of their objective of outperforming LIBOR +3% over the long-term. They also point out that […]
Over the year to the end of February 2015, Aurora Investment Trust’s return on net assets was -10.6% which compares to a positive return of 2.1% for its benchmark. The dividend is being increased from 3.8p to 3.85p. The statement says that part of their problem is exposure to oil related stocks and part is exposure […]
Dragon Ukrainian Properties has published results for the year ended 31 December 2014. Over that period the net asset value fell from $168m to $92m. Almost all of Dragon Ukrainian’s assets, apart from one shopping mall owned by Arricano and located in Simferopol, were not directly affected by events in Crimea and Eastern Ukraine. The […]
Lindsell Train has reported a 27.9% return on net assets and a 23.9% return to shareholders for the year to the end of March 2015. These numbers compare well to a 3.8% return on the fund’s benchmark and a 19.7% return on the MSCI World Index. They say that, once again, the main contribution to […]
JPMorgan Emerging has today announced that it is getting rid of its performance fee with effect from the financial year that will commence on 1 July 2015. The base fee will remain at 1% on assets less liabilities up to £800m and 0.75% on the balance. JMG : JPMorgan Emerging cuts fees
Tau Capital has completed the sale of its investment in Lucent for $250,000 and is working on the sale of Stopharm. They have a $7m offer for their investment but Stopharm needs a cash injection so they are exploring whether they can lend Stopharm $700,00 out of the proceeds of the sale and then sell the […]
Over the year to the end of March 2015, Picton Property Income’s net asset value climbed from 56p to 69p and its earnings per share grew from 10.4p to 15.4p. To give a total return of 27.4%. They maintained the dividend but this year will increase it by 10% to 3.3p per share [corrected from version where […]
Ediston Property has announced the acquisition of a B&Q Extra Retail Warehouse in Coatbridge, Scotland for £16.8m. The acquisition price is equivalent to a net initial yield of 7.46%. The property extends to 103,000 sq. ft., plus a garden centre and builders’ yard, with parking for 600 cars, on a site of 4.27 acres. It is […]
BBGI SICAV has announced the acquisition of the remaining 50% it didn’t already own in the Northern Territories Secure Facilities PPP Project in Australia. The Northern Territory Secure Facilities is a new 1,000 bed correctional facility, located on a greenfield site at Holtze, near Darwin, Australia. NTSF became operational in 2014 and allows Northern Territory […]
JPMorgan European has announced results for the year ended 31 March 2015. The report says that both the growth and income pool outperformed their benchmark (MSCI Europe ex UK) over the year with the Growth shares producing a total return of +14.5% and the Income shares a total return of +15.4%, compared with 7.0% for the […]
UK Commercial Property has announced the sale of two assets from its retail portfolio, 176-206 Kensington High Street, London and 134-138 North Street, Brighton in two separate transactions for a total consideration of £82.7m, which is marginally ahead of their aggregate valuation as at 31 March 2015. The assets have been deemed to be non-core to […]
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