Aberdeen Japan has announced results for the year ended 31 March 2016, over the year, the net asset value returned -6.2%, compared to the benchmark Topix return of -1.7%, in sterling terms. They say this 4.5% NAV underperformance is largely due to a loss on the currency hedge almost all of which came in the first quarter […]
Schroder UK Mid Cap has published results for the six months ended 31 March 2016. The company’s net asset value produced a total return of 3.0%, compared to a total return of 2.2% for the company’s benchmark, the FTSE 250 (ex Investment Companies) Index. However the performance of the company’s share price disappointed during the period, […]
The Board of Industrial Multi Property Trust notes a press comment today and announces that it has received an unsolicited proposal from a third party to acquire the entire property portfolio of the Company by way of a sale and purchase agreement. The Board considers that the Proposal undervalued the Company’s assets significantly and therefore has […]
Dunedin Enterprise Investment Trust has, through the Dunedin Buyout Fund III, invested GBP4.2 million in Kingsbridge Risk Solutions. Dunedin Enterprise will have an interest of 13.0% in Kingsbridge. Founded by the current CEO Steve Wynne in 2001, Kingsbridge is the UK’s market-leading provider of insurance services that are tailored to meet the needs of contractors, freelancers […]
John Laing Infrastructure has announced that, following the satisfaction of certain conditions agreed between the parties, it has completed the acquisition of a 95% interest in the Oldham Social Housing PPP project. The project, located in the UK, has been fully operational since January 2015 and benefits from an availability-based payment mechanism. The acquisition was […]
Alliance Trust has made an announcement in response to the press speculation over the weekend. They say, as communicated to shareholders in October of last year and more recently at the time of the publication of the annual results in March this year, a number of significant changes to Alliance Trust have been implemented in […]
The Board of AEW UK REIT has announced the acquisition of two mixed use assets in Nottingham and Blackpool for a total of GBP13.2m, net of acquisition costs. With these two acquisitions the Company has now fully invested its equity capital and is geared to 20% of Gross Asset Value, in line with its investment […]
Scottish Investment Trust has announced results for the six months ended 30 April 2016. Over that period the net asset value per share total return was 4.0% (with borrowings at market value). The share price total return was 4.4%. The company does not have a formal benchmark but, by way of reference, over the review period the […]
The Board of Empiric Student Property has announced that the Group has acquired the freeholds of three operational, direct-let, premium student accommodation properties in Leicester, comprising a total of 106 beds, for a consideration of GBP8.8 million (excluding acquisition costs). Bede Park (completed in 2012) is a conversion of a 1900s two storey industrial unit, with […]
Harbourvest Global Private Equity has announced results for the year ended 31 January 2016. After reaching an all-time high in May 2015, the total return of the MSCI All Country World Index was negative at -6.3% for the twelve months. In contrast the net asset value per HVPE share increased by 5.6% (in US dollar terms). […]
At an EGM on 21 June, Altin’s shareholders will be asked to approve a reduction of ALTIN AG’s share capital from CHF 58’645’002 (divided into 3’449’706 registered shares with a nominal value of CHF 17 each) by CHF 58’541’510.82 to CHF 103’491.18 through the reduction of the nominal value per share, CHF 17, by CHF 16.97 […]
Ottoman Fund has made the following statement today: “The Company announces that trading in the Company’s ordinary shares on AIM will be suspended with immediate effect pending publication of the Company’s half-yearly report for the six months ended 29 February 2016. The board remains in negotiations seeking to recover shareholder funds that have been embezzled […]
Standard Life European Private Equity Trust has announced its interim results for the six-months ended 31 March 2016. During the period, the trust has provided an NAV total return of 11.3%, whilst the NAV per ordinary share rose 10.2% to 310.2p (30 September 2015 – 281.6p). The company says that the increase in NAV included […]
Shires Income, managed by Ed Beal (pictured), has announced its annual results for the year ended 31 March 2016. During the year, the trust’s NAV fell by 7.0% on a total return basis, thereby underperforming its FTSE All-Share Index benchmark, which lost 3.9%. The company says that its NAV underperformance was due principally to stock […]
JPMorgan Indian Investment Trust has announced its interim results for the six-months ended 31 March 2016. During the period, the company provided an NAV total return of 2.2%, ahead of its MSCI India Index benchmark, which returned 1.8%. The share price total return was 0.6%, which reflects a widening of the discount over the six […]
K&C REIT has announced that it has completed the purchase of ‘The Osprey Management Company Limited’, from Ms Susan Hards, for an aggregate consideration valued at £1.6m. The company says that Osprey owns a portfolio of freehold interests in what it describes as, “a number of high quality retirement and residential properties in and around […]
The European Investment Trust has announced its interim results for the year ended 31 March 2016. During the period, the trust provided an NAV total return of 2.2%, thereby underperforming FTSE All-World Europe ex UK Index, which returned 6.9% in sterling total return terms. The managers say that, in their view, the underperformance reflects a […]
GCP Infrastructure Investments has announced its interim results for the half year ended 31 March 2016. During the period, the company advanced loans totalling £46.4msecured against UK renewable energy, social housing and PFI projects, with a further £11.5 million advanced post period end. The company also made a profit of £21.9m and has paid a […]
Custodian REIT has announced that it has acquired a 55k square foot, high bay distribution unit on Relay Park, Tamworth for £4.7m. The unit is let to Schenker Limited (trading as DB Schenker), a subsidiary of Deutsche Bahn, on a lease that expires on 27 September 2017. The unit is located at junction 10 of […]
John Laing Environmental Assets has announced that its placing has raised gross proceeds of £35.19m through the issue of 36m ordinary shares at 97.75p per ordinary share. The company says that the net proceeds of the Placing will be used to repay amounts drawn down on the Company’s revolving credit facility. The company expects that […]
Chenavari Capital Solutions has announced that it has re-invested approximately £3.5m in a repeat transaction replacing an exposure that recently matured in its portfolio. The transaction is a first loss exposure to SME and corporate loans extended by a large Swiss bank. The company says that this loan portfolio is “very granular” with over 1,500 […]
Target Healthcare REIT has announced that it has acquired Summerfield House, a care home in Halifax, West Yorkshire, for approximately £7.2m including acquisition costs. It says that Summerfield House is a modern purpose-built facility, with 106 beds over three floors, which was opened in 2011. The company also says that the home is situated in […]
Over the year to 31 March 2016, Biotech Growth Trust’s net asset value per share fell by 24.8% during the year, underperforming the Company’s benchmark, the NASDAQ Biotechnology Index, measured in sterling terms, which fell by 21.8%. The Company’s share price fell further, by 26.3%, as the discount of the Company’s share price to the […]
Electra Private Equity has provided what it describes as an “Interim update on the review of the Company’s investment strategy and policy and its structure”. Electra say that the review, which was announced in January, is on track for completion in the autumn. However, they say that a number of interim conclusions have been reached […]
Chenavari Capital Solutions has published interim accounts covering the six months to the end of March 2016. The NAV as at 31 March 2016 was GBP121.6 million with a NAV per Share of 93.31 pence. Total dividends during the period were 4 pence per Share, the NAV total return for the period was -1.17%. The shares were quoted […]
Alternative Asset Opportunities says its interim report for the six months to December 2015 referred in some detail to insurers applying increases to applicable premium rates. These are known as ‘cost of insurance’ (COI) increases. COI increases have historically been very rare and, although they can be implemented each year by the insurer, until September 2015 […]
Schroder Income Growth says that, during the six months ended 29 February 2016, the net asset value produced a negative total return of 1.4%, broadly comparable to that of the FTSE All-Share Index, which fell by 1.2% over the period. The company’s share price declined by 8.5% in total return terms during the period as the […]
Standard Life Equity Income says, in the six months to 31 March 2016 its diluted net asset value total return was 0.7%. This compares with the benchmark total return of 3.5%. The discount on SLET’s shares widened slightly from 0.4% six months ago to 1.6% at 31 March, producing a decline of 0.7% in the share price total […]
JPMorgan European Smaller Companies Trust, chaired by Carolan Dobson (pictured), has announced its final results for the year ended 31 March 2016. During the year, the trust produced a net asset value total return of +16.6%, compared with the benchmark total return of +7.2% over the same. The share price total return for the year was +19.7%, […]
Toro has published its first set of accounts. The company’s shares were admitted for trading on the 8 May 2015. The share price was 83 cents as of 31 March 2016, trading then at a discount to NAV of 13.82%. Over the period the company generated a loss of EUR4.5 million or a loss of 1.23 […]
