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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

17 Jul 2023

A bumper year for Gore Street Energy Storage though its discount continues to widen

Gore Street Energy Storage Fund (GSF) has released its annual results for the financial year ending 31 March 2023. Over the 12 month period GSF’s NAV increased by 47.8%, to £556.3m. Its NAV per share increased by 5.9%, to 115.6p per share. This reflects a NAV total return of 12.3% and 48% since 31 March […]

Sectors
17 Jul 2023

Ruffer makes an uncharacteristic slip up

Ruffer Investment Company (RICA) has released its annual results for the financial year ending 30 June 2023. Over the 12 month period RICA generated a NAV total return of -1.7%, and share price return of -7.2%. The drivers behind RICA’s negative financial year returns were its use of protections strategies and derivatives, with its equity […]

Sectors
17 Jul 2023

QuotedData’s morning briefing 17 July 2023

In QuotedData’s morning briefing 17 July 2023: Cordiant Digital Infrastructure (CORD) has announced that its portfolio company, Emitel S.A, has refinanced its senior loans, securing €353m in financing which matures in 2030. The new facility was 1.6 times oversubscribed, with a blended rate lower than the 2.9% of its current senior facilitates. The new loans […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • UK
Sectors
Companies
14 Jul 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 14th July 2023

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: • Hipgnosis Songs Fund (0:22) • ThomasLloyd Energy Impact (10:43) • US Solar Fund (5:12) This week’s interview was with David Smith from Henderson High […]

Sectors
Companies
14 Jul 2023
230714 QD view - Infrastructure sits on solid foundations

QD view – Infrastructure sits on solid foundations

Having been one of the few ports in the storm of 2022, it has been a dismal start to the year for infrastructure trusts. Every fund across the three main infrastructure sectors – infrastructure, infrastructure securities and renewable energy infrastructure – is down in share price terms for the year to date. For some of […]

Sectors
Companies
14 Jul 2023

QuotedData’s morning briefing 14 July 2023

In QuotedData’s morning briefing 14 July 2023: Dunedin Income Growth (DIG) has renewed its £30m multi-currency revolving credit facility with Bank of Nova Scotia London Branch, which will now expire on 11 July 2024. Under the terms of the facility, DIG also has the option to increase the level of the commitment from £30m to £40m at […]

13 Jul 2023
logos for Riverstone credit and streamline innovations 230713 rcoi streamline

Riverstone Credit benefits from Streamline Innovations refinancing

Riverstone Credit Opportunities Income has announced a successful amendment and extension of its investment in Streamline Innovations, a leader in environmentally-advanced treatment solutions for the removal of hydrogen sulfide (H2S) from energy, renewable fuels, wastewater, and industrial processes. The company realised about $2.0m of profits at closing of the amendment and extension resulting in a […]

Sectors
13 Jul 2023
230607 tlei debacle

ThomasLloyd manager call for continuation vote

ThomasLloyd Energy Impact has received a notice from certain entities and funds which hold shares in the company and are affiliated with ThomasLloyd Global Asset Management (Americas) LLC (the investment manager) requisitioning a general meeting of shareholders. The meeting is required to be convened within 21 days of the requisition and to be held on […]

13 Jul 2023
Hipgnosis Songs Fund: SONG

Hipgnosis promises action on discount ahead of continuation vote

Hipgnosis Songs Fund has published results for the year ended 31 March 2023. The independent valuer has left the discount rate used to calculate the fund’s NAV unchanged at 8.5% [some commentators will question the logic behind this given how far interest rates have risen. Given the complexities of valuing the fund and working out […]

13 Jul 2023
A man fixing a frozen electricity line 230713 DORE Blasjon Nat

Downing Renewables buys Swedish electricity distributor

Downing Renewables and Infrastructure has acquired a Swedish Electricity Distribution System Operator, Blåsjön Nät AB for about £7m. The deal involves the purchase of 100% of the share capital in Blåsjön, a regulated electricity distributor, which delivers 16-18 GWh per annum of electricity through medium and low voltage lines to its 1,547 domestic and business […]

13 Jul 2023

Jupiter Green buoyed by narrower discount

Jupiter Green Investment Trust has published results for the year ended 31 March 2023. In NAV terms the trust delivered a total return of -0.4%, outperforming the wider Global Small Cap index, which returned -3.1%. Shareholders benefited from an improved rating as the discount narrowed from 18.7% to 13.4%, the share price delivered a +6.7% […]

Sectors
13 Jul 2023
A picture of David Moss manager of CT UK High Income

New manager for CT UK High Income

CT UK High Income has announced that David Moss will succeed Philip Webster as its portfolio manager with immediate effect. The investment policy and objective will remain unchanged. David has worked at the investment manager (which became part of Columbia Threadneedle Investments in 2021) for 25 years, and is currently the head of European equities […]

Sectors
Companies
13 Jul 2023

Seraphim Space announces buyback

Seraphim Space has authorised a share buyback programme. It hasn’t said how big that will be except to say that it wouldn’t use all of its permission to buyback up to 14.99% of the company. Neither has it set a discount target. [Nevertheless, shareholders will be pleased to see the board take some action to […]

Sectors
13 Jul 2023
black tea, cereal and half a grapefruit

QuotedData’s morning briefing 13 July 2023

In QuotedData’s morning briefing 13 July 2023: Round Hill Music (RHM) says that its Q1 2023 revenue was 94% higher year-on-year to $10.2m We also have results from Jupiter Green and Hipgnosis, an acquisition by Downing Renewables, a new manager for CT UK High Income, an update from Seraphim Space

12 Jul 2023
220323 stop sign reject CIP

Shareholders of ThomasLloyd Energy Impact still in the dark

ThomasLloyd Energy Impact has provided a valuation update relating to the status of its Rewa Ultra Mega Solar Park Project which led to the suspension of the fund’s shares back in in April. We have written about the situation that has unfolded over the last few months here, and here. The update relates to the […]

Sectors
12 Jul 2023
Artemis Alpha outperforms in year of transition

UK optimism for Artemis Alpha Trust after up and down year

Artemis Alpha Trust (ATS) announced its annual results for the year end up to 30 April 2023. During year NAV per share rose by 1.3% and its share price fell 1.2% (on a total return basis). In comparison the benchmark FTSE All- Share Index rose by 6.0%. The second half of the year showed a […]

12 Jul 2023
230124 morning

QuotedData’s morning briefing 12 July 2023

Cordiant Digital Infrastructure Limited (CORD) announced that its portfolio company, České Radiokomunikace has signed a new 15-year contract with an existing customer, the blue-chip mobile operator T-Mobile for the lease of space on CRA’s telecommunications tower portfolio. The new contract replaces and expands the scope of the existing contract with T-Mobile. Under the previous arrangements, […]

11 Jul 2023
230207 GCP green is good

JLEN Environmental Assets expands green hydrogen investment

JLEN Environmental Assets Group (JLEN)  announced its investment up to the value of €9.2m into the company’s second green hydrogen development opportunity, in Germany, alongside a consortium including other Foresight managed funds and its development partner HH2E, a specialist in developing green hydrogen projects to decarbonise industry. The green hydrogen production site is located in […]

11 Jul 2023

Miton Micro cap suffers from UK malaise

Miton UK Microcap Trust (MINI) announced its annual results for the year ended 30 April 2023. Miton struggled throughout the year in what remains a challenging environment for small and micro caps. NAV fell 30% and shares 31%. In contrast, the Numis 1000 Index was down 11.2% during the same period. Despite the performance, the […]

11 Jul 2023

QuotedData’s morning briefing 11 July 2023

Riverstone Energy (RSE) has announced that one of its portfolio companies, Anuvia Plant Nutrients, has ceased operations and is undergoing liquidation. The company invested US$20 million in Anuvia in March 2022, with its investment being written down to US$14 million at the time of its Q1 2023 quarterly portfolio valuations. Anuvia is in the process […]

Companies
10 Jul 2023
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 10 July 2023

In QuotedData’s morning briefing 10 July 2023: Castelnau Group (CGL) has announced that it has purchased a 25% stake in Warlord Games, a historical table top wargame maker, through one of its portfolio companies, Hornby Hobbies. The transaction was made for £1.25m in cash. CGL has the option to become the majority shareholder in Warlord […]

Companies
07 Jul 2023
230707 Sterling cash inflation QD view

QD view – Divining higher income in an inflationary environment

As I write this, the outlook for the UK equity market looks particularly depressed. As I discussed in my QD view “Bargain Britain” two weeks ago (click here to read), inflation in the UK has remained stubbornly high, which was somewhat of a surprise to many commentators who had expected to see signs of this […]

Sectors
Companies
07 Jul 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 7th July 2023

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: • Fondul Proprietatea (0:46) Andrew McHattie looked at why Hansa Trust and emerging markets funds were rising while growth focused funds continued to slide over […]

Sectors
07 Jul 2023
230707 FP NAV overstated

Fondul Proprietatea guides that its NAV is at least 5% overstated

Fondul Proprietatea (FP.) has announced that, based on the preliminary data held by AIFM (Franklin Templeton International Services S.À R.L.), there is a high probability that the next reported NAV will be at least 5% lower than the most recent NAV as of 31 May 2023 (which was published by the fund on 15 June […]

Sectors
07 Jul 2023
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 7 July 2023

In QuotedData’s morning briefing 7 July 2023: GCP Asset Backed Income (GABI) has extended its £50m revolving credit facility (RCF), with Royal Bank of Scotland International Limited, that was due to mature in August 2023, by 12-months to August 2024. The terms are the same as for the previous facility. The current drawn balance on […]

Sectors
07 Jul 2023
Scottish Mortgage Tom Slater Manager Insights Thumbnail (1)

Scottish Mortgage manager insights: embracing discomfort

Amid the upheaval of progress, there is no going back to the world as it was. Tom Slater, manager of Scottish Mortgage, looks beyond the uncertainty in pursuit of long-term growth. “What gives us the confidence to stay the course and stick to our approach? It is the ongoing, deepening and widening of technological progress.” […]

06 Jul 2023
230706 ajot NC holdings

AVI Japan makes progress with NC Holdings

Asset Value Investors Limited submitted eight shareholder proposals to NC Holdings. At the ordinary general meeting of shareholders on 29 June, three of these proposals passed while a further three achieved majority shareholder support. Proposals that passed: A special resolution requiring over two-thirds of the vote, amending the articles of incorporation to give shareholders the authority […]

06 Jul 2023
an oryx

Oryx International buoyed by takeovers

Oryx International Growth reports a 5.9% decline in its NAV over the 12 months ended 31 March 2023. By comparison, benchmark indices fell by 19% on average. The second half of the period was better than the first, with a second half gain of 9.8% offsetting a first half fall of 14.6%. There is no […]

06 Jul 2023

Schroder British Opportunities ekes out NAV gains

Schroder British Opportunities says that over the year ended 31 March 2023 its NAV increased by 3.1% to 107.32p. There is no dividend. However, the share price suffered a decline of -18.5% as the discount widened from ‑19.3% to -36.2%, which the chairman describes as frustrating. 1.1m shares were repurchased and are being held in […]

Sectors
06 Jul 2023

Good news for Gore Street

Gore Street Energy Storage says that the energisation process of its 79.9MW Stony asset in Milton Keynes has been scheduled with National Grid ESO to begin on 31 July 2023. The process is expected to take up to two weeks to complete. Once operational, the asset will bring the company’s total operational portfolio to 371.5MW. […]

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