In QuotedData’s morning briefing for 04 August 2023: Schroder British Opportunities (SBO) has announced that one of its private equity investments, Rapyd, has acquired PayU Global Payment Organisation from Prosus, for $610m, subject to regulatory approval. Rapyd is a leading global Fintech-as-a-Service provider, while PayU is a payment solutions provider to both enterprise and SMB […]
What if it were possible to capture CO2 directly from the air and lock it away permanently? Scottish Mortgage holding, Climeworks wants to inspire 1 billion people to remove CO2 from the air to help tackle legacy and unavoidable carbon emissions. “Climeworks is the first direct air capture company to deliver third-party certified carbon dioxide […]
JLEN Environmental Assets says that its unaudited NAV at 30 June 2023 was £801.4m or 121.1p per share. This is a decrease of 2.0p per share since 31 March 2023, after paying the quarterly dividend of 1.8 per share. What drove the change? Power and gas price fixes secured above previous valuation assumptions (+0.4p); higher […]
Ediston Property Investment Company (EPIC) is in advanced discussions with a third party buyer over the possible sale of the company’s property portfolio. As part of its strategic review into the future of the company, announced in March, the board today says that it has entered negotiations over the sale of the group’s retail park […]
Pantheon International has published results for the 12 months ended 31 May 2023 and in NAV terms it was good to see a positive return of 2.4% for the year, although this lagged the 4.3% return on the MSCI World Index. In share price terms, it is a different story as the discount widened further […]
Henderson Smaller Companies has announced results for the 12 months ended 31 May 2023. This was a year of underperformance, as the NAV total return came in at -13.8% versus -6.5% for the company’s benchmark – the Numis Smaller Companies Index (excluding investment companies). The discount actually narrowed a little – from 14.6% to 13.2% […]
International Biotechnology Trust has decided to appoint Schroder Unit Trusts Limited as its fund manager and AIFM. Shareholders had told the board that they wanted continuity of the company’s investment approach under the existing investment management team and to retain the dividend policy. Ailsa Craig and Marek Poszepczynski (who have been lead managers on the […]
QuotedData’s morning briefing 3 August 2023: Tritax Big Box REIT (BBOX) posted a 1.5% uplift in EPRA net tangible assets (NTA) to 183.02p per share in the six months to 30 June 2023. Its portfolio valuation was stable at £5.05bn, while adjusted earnings were up 5.6% to 3.94p per share. This covered its dividend for […]
Rights and Issues Investment Trust (RIII) has released its half year results for the six month period ending 30 June. This is the first set of results to cover RIII’s performance under the management of Jupiter Asset Management. Over the six months RIII generated a NAV total return of 3.5% and share price total return […]
Invesco Select has published its annual report for the period ending 31 May 2023. As a reminder, Invesco select has four different share classes, UK Equity Shares, Global Equity Income Shares, Balanced Risk Allocation Shares and Managed Liquidity Shares, each of which has its own separate portfolio of assets and attributable liabilities. UK Equity Income […]
QuotedData’s morning briefing 2 August 2023 Alternative Income REIT (AIRE) has posted a 0.7% increase in NAV to 84.2p for the quarter to 30 June 2023, following a 0.3% rise in the value of its portfolio to £107.0m. EPRA earnings were up 8.2% to 1.7p per share, and the board declared a quarterly dividend of […]
CT Global Managed Portfolio (CMPG) released its annual results for the year ended 31 May 2023. NAV total return was -7.4% for the financial year, underperforming the total return of the FTSE All-Share Index of +0.4% by -7.8% points. Share price total return was -2.1%. The company increased its annual dividend by 8.3% to 7.20p […]
RIT Capital Partners (RCP) announced its results for the half year ended 30 June 2023. NAV total return for the period was -0.2% while shares fell 4% over the same period and now trade at a discount of 21%. This compares to the MSCI ACWI which was up 11.0% and CPI plus 3% at 5.5%. […]
Third Point (TPOU) published an investor letter for Q2 with the company returning 1.1% in the flagship Offshore Fund during the second quarter of 2023, compared with the S&P 500 Index return of 8.7% and the MSCI World Index return of 7.0% in the same period. The top five positive contributors for the quarter were […]
Spanish retail landlord Lar España reported solid half year results for the six months to 30 June 2023, with revenue up 16.4% to €48.9m. Sales and footfall from its shopping centres and retail parks continue to grow, with sales reaching €505.1m (7.5% up on the same period in 2022 and 16.1% up on pre-COVID 2019 […]
On 11 July 2023, ThomasLloyd Energy Impact received a requisition on behlf of ThomasLloyd Cleantech Infrastructure Fund SICAV and ThomasLloyd SICAV – Energy Impact Credit Fund. It asks that the three resolutions which were not voted on at the AGM on 30 June 2023, including the continuation vote, be put before shareholders. The company is […]
Chrysalis Investments says that as at 30 June 2023, its unaudited NAV was 136.86 pence. That represents a 6.84p per share or 5.3% increase since 31 March 2023. Movement in the fair value of the portfolio accounted for an uplift of approximately 9.28p, offset by an adverse foreign exchange movement of approximately 2.20p – as […]
BioPharma Credit’s manager Pharmakon Advisors notes the announcement released Friday 28 July by Biogen Inc. regarding its definitive agreement to buy Reata Pharmaceuticals Inc. The purchase price equates to an enterprise value of approximately US$7.3bn. Biogen and Reata currently anticipate that this transaction will close in the fourth quarter of 2023. On 11 May 2023, […]
Octopus Renewables Infrastructure has agreed to invest up to £2m to set up and fund a new development business, focused on creating new ground-mounted solar PV and co-located battery storage assets in the UK. The trust will own 100% of the new company, which will benefit from exclusive development services from BLC Energy Limited (BLCe). […]
In QuotedData’s morning briefing 31 July 2023: RM Infrastructure Income (RMII) says that, since its last update on 10 July 2023, the board has received an additional [merger] proposal under s110 of the Insolvency Act 1986 which is under consideration alongside one other proposal highlighted in the 10 July 2023 announcement, however at this time […]
In light of our upcoming investment trust forum on the 5th of October, I thought I would take this opportunity to look at one of our panel discussion topics. As the title suggests, it focuses on what the future might look like for renewable energy investments. The bulk of the exposure to this theme is […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • abrdn Smaller Companies Income/Shire (1:08) • Ecofin US Renewables (7:31) • Henderson Diversified Income (11:52) This week’s interview was with Uzo Ekwue & Pav […]
Scandal-hit Home REIT is proposing changes to its investment policy as it looks to stabilise its business following the appointment of AEW as investment manager. The changes will be put to shareholders at a general meeting on 21 August. A summary of the changes Introduction of a stabilisation period A stabilisation period will commence on […]
GCP Infrastructure Investments (GCP) announced its quarterly results to June 30, 2023. NAV fell 2.2% due to increases in discount rates which reflect the current higher inflation and base rate environment, and recent market transactions that suggest the rising cost of debt has started to impact equity pricing. This has resulted in a c.40bps increase […]
Alliance Trust (ATST) has announced its interm results for the the six months ended 30 June 2023. The company’s NAV total return was 11.1%, significantly outperforming its benchmark index, the MSCI All Country World Index which returned 7.8%. Total shareholder return was 7.6%, due to a widening of the discount, although at -7.2% this was […]
Law Debenture (LWDB) published its results for the half-year ended 30 June 2023. NAV total return for H1 2023 delivered a modest outperformance of 4.0% compared to its benchmark, the FTSE All-Share Index, which returned 2.6%. The company’s profit before tax was up by 8.5% and valuation up 4.4% to £210m (compared to 30 December […]
MIGO Opportunities Trust has appointed Asset Value Investors Limited (AVI) to become its AIFM and investment manager. It will continue to implement MIGO’s existing investment objective and policy. The decision follows detailed shareholder engagement and a rigorous selection process, as part of the board’s manager review announced in March. AVI is an experienced manager of […]
Taylor Maritime (TMI) results are out for the 12 months ended 31 March 2023. The company’s NAV return was 4.7%. Some highlights: Dividends of 10.97 cents were declared in the year ended 31 March 2023 (31 March 2022: 3.50 cents). In addition, the company declared an interim dividend on 27 April 2023 of 2 cents […]
Ecofin US Renewables (RNEW) confirms that following the 21 June 2023 tornado in Matador, Texas, its 59.8MW Whirlwind Energy wind farm in Floydada, Texas, remains temporarily offline. As previously communicated, the tornado left the Whirlwind asset itself unharmed and affected only five project-owned transmission poles at the far end of Whirlwind’s transmission line along with the […]
In QuotedData’s morning briefing 27 July 2023: AVI Global Trust (AGT) has completed an agreement to issue JPY4.5bn (£25m) of fixed rate unsecured debt, for a term of ten years. The annual interest rate on the debt is 1.44%. The company is about 4% geared currently. Greencoat UK Wind’s (UKW) NAV dropped from 167.1p to […]
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