News

Dalradian Resources is moving directly to a feasibility at its 100%-owned Curraghinalt gold project, in Northern Ireland after originally planning to produce a pre-feasibility study by the end of 2015. The company now plans to expand its infill drilling programme and conduct underground exploration to complete a resource update in 2016. Depending on the results […]

AEW UK REIT, which listed on the LSE in May raising £100.5m, has announced the purchase of its fifth property for £12.2m. 225 Bath Street in Glasgow (pictured) has 87k square feet of office space, over seven floors and is currently fully let to six tenants. The purchase brings total capital invested to £52m. The purchase price reflects a […]

They believe Aberdeen Asian Income has reported that its net asset value total return fell 2.4% in sterling terms over the six months to 30 June 2015, compared with the MSCI AC Asia Pacific ex Japan Index, which returned 2.6%. Against this backdrop, the Ordinary share price total return fell by 2.1% with the premium over […]

Empiric Student Property has acquired the freehold to a 134 bed new-build premium student accommodation scheme, in Sheffield, for £10.7m. Portobello House, as the development is known, is located in the heart of the University of Sheffield campus and within a 10 minute walk to the city centre and Sheffield Hallam University. The scheme comprises a mix of […]

Camper & Nicholsons Marina (CNMI) have announced that Miral Asset Management LLC, the owners of Yas Marina in Abu Dhabi, have exercised their no-fault option to terminate the management contract with the company. The contract generated operating revenue and net profit of €1.4m & €0.4m respectively for CNMI in 2014. Miral will be absorbing the business and staff associated […]

Threadneedle UK Select beat the FTSE All-Share index over the first half of 2015 delivering a total return on net assets of 4.5% against 3% for the index. The discount narrowed slightly from 6.5% to 6.2%. The dividend was upped from 1.85p to 1.9p. The investment manager says Crest Nicholson climbed after delivering an encouraging […]

The continued slump in commodity markets weighed on the performance of BlackRock World Mining over the first half of 2015. the total return on net assets was -7.0% for the period and the return to shareholders was -2.8%. These figures are better than the return on the Euromoney Global mining Index however – this returned […]

Middlefield Canadian has reported interim results for the first six months of 2015. The return was well ahead of its benchmark, recording outperformance of 6.3% in Canadian dollar terms – In Canadian dollars, the Company’s net asset value is up 4.4% for the six month period ending 30 June, well ahead of the S&P/TSX Composite High […]

The board of Leaf Clean Energy Company has announced the completion of the realisations of four of its investments: the biomass power plants Multitrade Telogia, LLC and Multitrade Rabun Gap, LLC, the landfill gas portfolio owned by Johnstown Regional Energy, LLC and the solar thermal power technology company SkyFuel.  These transactions closed on 11 March, 31 […]

Caledonia Mining’s earnings fell 59% to Canadian cents 3.4/share in H1 2015 (adjusted: Canadian cents 5.2/share), as gold production at its 49%-owned Blanket mine, in Zimbabwe, dipped to 20.4 koz (H1 2015: 21.5 koz), AISC rose 11%, to US$984/oz, and the gold price received was lower at US$1,187/oz gold. Costs rose as a result of […]

Derwent London has published interim results covering the first half of 2015. Over this period, its EPRA net asset value per share increased by 10.9% to 3,226p from 2,908p. EPRA earnings per share were 33.97p, 16.5% up on the equivalent period last year – this was on the back of a 21.9% increase in PBT and […]

Fondul Proprietatea has published interim results covering the six months ended 30 June 2015, its first since listing in London in April. Over this period the total return on net assets was 1.9% but the discount widened from 26.1% to 32.9% and this meant the return to shareholders was -5.8%. Romania underperformed most markets in […]

Centamin has reported EPS of USc1.65 for Q2 2015, up 67% from the corresponding quarter of 2014, but down from the USc2.50 earned in Q1 2015. Gold production rose 32% yoy, to 108 koz, and remained broadly in line with the first quarter of 2015. On the back of the higher production  at its Sukari […]

Ranger Direct Lending has published its first set of figures covering the period from its launch on 25 March 2015 to the end of June. After initial launch costs of 1.63% of NAV, the Company had a NAV of $15.14 per share upon listing, with the NAV per share growing to $15.16 on 30th June […]

Picton Property Income has acquired the freehold of a retail warehouse in Sheffield, for £17.7m, reflecting a net initial yield of 6.6%. The property is well located close to Sheffield city centre, in an established retail warehouse location and adjacent to Queens Road Retail Park.  It was built in 2002 on a nine acre site, […]

RIT Capital Partners delivered a 6.4% return on net assets for the first half of 2015 and an 11.8% return to shareholders, both of which compare well to the 2% return on RPI+3% per annum and 3% return on the MSCI AC World Index. The dividends for the first half totalled 30p, 2% higher than […]

Prospect Japan has published interim figures covering the first half of 2015. We are having trouble understanding the statement – the text says “The Prospect Japan Fund (the “Company”) underperformed the MSCI Japan Small Cap Index (Total Return) by 26.7% in the six months to 30 June, 2015 (falling by 12.3% against a total return […]

Witan’s results for the first half of 2015 show it beating its benchmark by 1.9% – delivering a total return on net assets of 5.5% compared with a return of 3.6% for the composite benchmark (the FTSE All-Share Index 40%, the FTSE All-World North America Index 20%, the FTSE All-World Europe (ex UK) Index 20% and the […]

Adams, which used to be (until March 2013) and eastern European property company, Carpathian, and is now focused on the technology and life sciences sectors, sold or shut down the last of its  legacy assets over the year ended 31 March 2015. It is one of the smallest listed investment companies. The Company delivered a gain of €172,000 on […]

Real Estate Investors, the Birmingham based property group, announces the sale of the part-vacant office building, 36 Great Charles Street, Birmingham, to Circle Property Unit Trust for the sum of £2.5m.  The property was acquired on 25th March this year for the sum of £1.85m. RLE : Real Estate Investors sells 36 Great Charles Street

Premier Energy & Water has published its interim accounts, covering the six months to the end of June 2015. The period was a difficult one for the global utilities market, as evidenced by a -7.5% return on the FTSE All-World Utilities Index but Premier Energy & Water did much better than this with a return […]

Stratex International has completed a trenching programme at the Madina Bafé prospect at its 85%-owned Dalafin gold project, in Senegal. Channel-sampling results include 4.0 m at a grade of 1.40 g/t gold and 6.0 m at 0.86 g/t gold in highly weathered material (ie potentially leached and thus lower grade than unweathered material). The company […]

http://www.fundweb.co.uk/news-and-analysis/peer-to-peer-lending-leads-bumper-investment-trust-fundraising/2023047.article The peer-to-peer focused P2P Global led investment trust fundraising for July, which was another bumper month for assets raised, reaching £1.6bn. Research from QuotedData found that July was another big month for money raised, higher than the £1bn raised in June and the £870m in May.

Glencore has put a number of its opencast operations, and large portions of the coal processing plants, at its Optimum colliery, in South Africa, on care and maintenance and is retrenching 600-700 workers. This comes as the company commences “business rescue” proceedings for Optimum. Optimum supplies coal to the Hendrina power station owned by State […]

Industrial Multi Property Trust has published an update on its position as at 31 March 2015 and been speculating about its future. They last refinanced the company at the end of December 2013. At that time occupancy within the portfolio stood at 84.6%. They have made modest improvements to this level since then and occupancy was […]

AEW UK REIT is spending £7.15m to buy Valley Retail Park. Valley Retail Park, Newtownabbey is located on the northern side of Belfast with good accessibility to the M2, M5 and A2. The site extends to circa 7 acres and the scheme provides 100,413 sq ft arranged over 7 modern purpose built retail warehouse units […]

Phaunos Timber Fund Limited has announced that agreement in principle has been reached with Rayonier, Phaunos’ joint venture partner in the Matariki Forestry Group, for Rayonier to provide a capital infusion for the repayment of all outstanding amounts under its existing NZ$235m credit facility and for general purposes.  The investment by Rayonier into the Matariki JV […]

Sherborne’s net asset value fell by 1.5% over the six months ended 30 June 2015 to a level of 104.47p. The shares were trading at a discount of 3.3% to this NAV at the end of the period but the share price had climbed by 6.3% over the first half. By contrast Electra‘s shares rose by 4.9% […]

The Board of JPMorgan Global Emerging Markets Income Trust has announced the addition of Amit Mehta to the Company’s investment management team with immediate effect. The Company is currently managed by Omar Negyal and Richard Titherington, who are part of J.P.Morgan Asset Management’s Emerging Markets & Asia Pacific Equities team, which has members in offices across […]