Acencia Debt Strategies says its net asset value, adjusted for dividends, increased by 4.9% over the course of 2014 and its share price grew by 8.0%. They are paying a dividend of 1.95p for the period. Notable investments include the Lehman estate (which is gradually working its way through liquidation) – they say the process is slow and litigious […]
Tritax Big Box REIT has announced that it is buying the B&Q Core Products Regional Distribution Centre at Worksop, Nottingham for £89.75m. The price is equivalent to a net initial yield of 5.13%. Constructed in 2005 for B&Q, the property is of a high specification and incorporates modern design features including cross docking, eaves height of […]
Redefine International has reported earnings per share up 5.2%, net asset value up 8.3% and a dividend up to 1.6p from 1.5p for the six month period ended 28 February 2015. Following the capital raising they have just completed the LTV ratio is 45.1% and they reckon they have cash of £72.5m available to invest. […]
BlackRock Smaller Companies results for the year ended 28 February 2015 show the fund generated a return on net assets of -1.8%, much better than the 8.5% fall recorded by the Numis Smaller Companies plus AIM (excluding Investment Companies) Index. However the company’s discount widened leaving shareholders with a return of -9.2%. The dividend was increased […]
Prospect Japan says its net asset value rose by 9.2% over the course of 2014 – well ahead of the -0.12% return on the MSCI Japan Small cap Index but these numbers are calculated on an IFRS basis where their investment in a convertible bond issued by the manager is valued at $51m vs. its $25m cost. […]
Aseana Properties results for 2014 have been published. The net asset value rose from 0.75 cents to 0.76 cents and the share price from m0.44 cents to 0.45 cents. Increased sales of properties helped reduce the company’s borrowings and the net debt to equity ratio dropped from 120% to 110%. They did not pay a dividend. The […]
NB Global Distressed Debt has published results for the year ended 31 December 2014. The fund now has three share classes – ordinary, extended life and new global. At 31 December 2014, 92.9% of the ordinary pool (NBDD)’s NAV was invested in distressed assets and 7.1% of NAV was held in cash and equivalents. NBDD’s […]
Alliance Trust has announced this morning that they have reached an agreement with their largest shareholder, Elliott Advisers, whereby Elliott has agreed to withdraw its three resolutions from the Alliance Trust AGM on 29 April 2015 and has committed to support the Board and management on all other resolutions. As part of the deal, both the […]
Great Portland has announced the sale of 95 Wigmore Street to UBS Global Asset Management for £222.4m. Great Portland owned the building in conjunction with Aberdeen Asset Management through a 50:50 joint venture. The sale price works out at a net equivalent yield of just 3.4% or £2,209 per square foot. The 98,800 sq. ft. […]
Dexion Absolute’s discount control mechanism works by triggering a 25% tender every time the discount trades, on average, wider than 5% over the three month periods starting on 1 January and 1 July each year. The average discount over the first three months of 2015 was 6.4% and so the tender will happen – the […]
Boussard & Gavaudan published their annual report on Friday 24th. This showed that, over the course of 2014, the NAVs for the Euro and Sterling shares increased by 6.85% and 5.29% respectively, whilst the market price improved by 11.73% and 16.71%. This was a good result both in NAV and share price terms as, by […]
VPC Speciality Lending has entered into a new arrangement with an existing platform and two arrangements with new lending platforms. Victory Park Capital, the manager, will be the largest initial purchaser of marketplace loans from Avant Institutional Marketplace. VPC Speciality Lending is participating in this marketplace facility. Victory Park Capital was an early financial partner of […]
Over the course of 2014 BlueCrest BlueTrend’s net asset value rose by 16.4%. At the end of the year the shares traded on a 3.5% discount. they bought back 30m Sterling shares and got rid of the US dollar share class as investors exited it. The Chairman’s statement says that the strongest performance came in […]
BlackStar Group has announced results for the year ended 31 December 2014. Over the year its net asset vale rose from 93p to 99p. They are paying a dividend for the year of 0.77p. The weakness of the Rand relative to sterling held back results. BlackStar is in the process of finalising two large transactions […]
Hg Capital is investing in Eucon which they describe as a leading provider of automotive parts pricing data & services to vehicle and parts manufacturers globally. The business is also a leading provider of highly automated claims management services to insurers in Germany. In the automotive data business, Eucon collects, processes and supplies crucial data […]
BlackRock Greater European’s interim results for the six months ended 28 February 2015 show that, during the six month period, the Company’s undiluted net asset value (NAV) per share returned +8.1%, compared with a return of +6.0% in the FTSE World Europe ex UK Index. At the same time, the discount widened somewhat, with the result […]
The Cayenne Trust’s results for the year ended 31 January 2015 have been published. The company’s net asset value total return and share price total return were both 12.1% for the period. This compares to an 11.6% return on the FTSE All-Share Equity Investments Index. The dividend has been increased from 1.2p to 3.8p. The […]
Fidelity Special Values has announced interim figures covering the six months ended 28 February 2015. Over the period the company’s net asset value total return was 5% – ahead of the 4.1% breturn generated by the FTSE All-Share Index. unfortunately the company’s discount widened from 4.7% to 9.6% and this left the return to shareholders […]
Henderson Far East Income’s performance lagged that of comparable indices a little over the six months to the end of February 2015. The net asset value total return was 3.3% as compared to 3.9% for the FTSE All-World Asia Pacific ex Japan Index and 7.7% for the FTSE All-World Asia Pacific Index. The discount narrowed a […]
JPMorgan Elect interims for the six months ended 28 February 2015 are out. The Managed Growth pool beat its bench mark by 3.2% over the period. The pool generated a return on net assets of 9.7% while their 50:50 FTSE All-Share : FTSE All-World ex UK benchmark returned 6.5%. They declared two quarterly dividends totalling 3.9p […]
Witan Pacific’s net asset value total return was 17.6% over the year to the end of January 2015, just ahead of the 17.1% return on the benchmark (MSCI All Country Asia Pacific Free Index). The share price return was 16.6% as the discount widened from 11.7% to 12.7%. The dividend was increased from 4.45p to […]
Pacific Alliance China Land says its net asset value rose by 5.6% over the course of 2014. The share price rose by 6.5% to finish the year at a 30% discount. $30m worth of shares were bought back and cancelled during 2014. Major portfolio movements included the IPO of Dalian Wanda Commercial Properties which drove […]
Schroder Global Real Estate has reported a 21.8% total return on net assets and a 14.5% return on share price for the year ended 31 December 2014. As these numbers suggest, the discount widened from 3.6% to 9.5% over the period – this despite the fund shrinking the number of shares in issue by 12.8% […]
Scottish Oriental Smaller Companies’ net asset value returned 4.5% over the six months to the end of February 2015, ahead of the MSCI AC Asia ex Japan Small Cap Index which returned 2.4%. Smaller companies lagged larger ones during the period – the MSCI AC Asia ex Japan Index returned 5.9%. The discount widened a […]
ICG Longbow results for the year ended 31 January 2015 show that the net asset value rose from 98.79p to 99.99p and the company declared dividends totalling 6p per share. The shares were trading at 105p at the year end. As at 31 January 2015 the Group’s loan portfolio had a weighted average unexpired term […]
Hammerson is selling the Drakehouse Retail Park in Sheffield to 90 North Real Estate for £61.7m. The sale price is equivalent to a net initial yield of 6.4% and is ahead of the valuation they had in their books as at 31 December 2014 (though they don’t say by how much). At 21,000 m(2) Drakehouse […]
Oakley Capital has published results for the year ended 31 December 2014 that show the net asset value has barely moved – up from 200p to 201p. Oakley Capital invests through two limited partnerships – Oakley Capital Private Equity and Oakley Capital Private Equity II. The first fund is now fully invested and is returning capital to […]
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