NB Distressed Debt has announced results for the year ended 31 December 2015. NBDD’s NAV per share decreased 10.7% during the year, to $1.1184 from $1.2521 per share, compared to a drop of 8% in the HFRI Distressed/Restructuring Index and a drop of 43% in the defaulted loans segment of the S&P/LSTA Index. Similarly the Extended […]
Subject to prior approval from the Financial Conduct Authority, Scottish Mortgage intends to seek shareholders’ approval, at the Annual General Meeting on 30 June, to amend the company’s investment policy to stipulate that the maximum amount which may be invested in companies not listed on a public market shall not exceed 25 per cent of […]
Randgold Resources’ 89%-owned Tongon gold mine, in Côte d’Ivoire, has commissioned its fourth-stage crushing circuit, completing an extensive capital project designed to improve throughput and recovery. The new circuit is currently being optimised. 2015 gold production at Tongon was 243 koz, up 7% on 2014, and the company is targeting production of 290 koz this […]
LondonMetric Property has announced that it has acquired two convenience assets in Matlock and Leicester and a development site in Ipswich for a total cost of GBP16.2 million, reflecting a net initial yield of 7.0%. In Ipswich, LondonMetric has acquired a three acre site from Tesco, where it intends to develop a new 30,000 sq […]
Witan Pacific’s results for the year ended 31 January 2016 show it managing to outperform its benchmark, the MSCI All Country Asia Pacific Index, by a little – the NAV return for the fund was -5.6% against -5.9% for the index. Shareholders did better than this though with a return of -3.5% as the discount narrowed […]
Empiric Student Property has acquired the long leasehold (999 years from March 2007) of a 561 bed scheme in Manchester for £29.5m. Victoria Point, Manchester was constructed in 2009 by the vendor as a private residential scheme comprising apartments and duplexes across six separate blocks of accommodation on a 3.5 acre site. The property has […]
Viking Supply Ships A/S, charterer of the ODIN VIKING, in which Nimrod Sea Assets has a 43% interest through Norseman Offshore AS (“Norseman”), is now two months overdue with respect to its charterhire payments for the vessel. Norseman has been advised that Viking Supply Ships A/S has appointed Swedbank as its financial adviser and that […]
During the year ended 31 December 2015, Carador Income Fund generated a total NAV return of -9.71% including distributions. The Credit Suisse High Yield Index lost 4.93% in 2015, the fourth-worst year in its 30-year history. The Credit Suisse Leveraged Loan Index fared better but still fell 0.38%, representing only the second negative annual return in its […]
In anticipation of a period of maternity leave for the lead portfolio manager Wee-Li Hee, the board of Scottish Oriental Smaller Companies Trust has agreed to the appointment of Vinay Agarwal as interim lead portfolio manager for the Company, effective 20 July 2016. Mr Agarwal will be supported by Martin Lau, Scott McNab and the broader […]
Volatility has meant that no investment trusts were launched over the first quarter of this year, while money that was raised was focused around property and infrastructure trusts, according to QuotedData. See more at: http://www.portfolio-adviser.com/news/1028797/property-infrastructure-trusts-inflows-q1#sthash.uWHsqkEA.dpuf
Baker Steel Resources Trust has published its results for 2015. The Euromoney Global Mining Index fell 39.3% in Sterling terms during the year and at 31 December 2015 was down 68.2% from the date of the Company’s first Net Asset Value (NAV) on 30 April 2010. By comparison, the Company’s NAV per share fell 25.4% […]
Blackstone/GSO Loan Financing has published its accounts for 2015 (figures are in Euros unless otherwise indicated). The fund returned just over 8% for the year. Over the period its NAV fell from 99 cents to 98.39 cents and its share price fell from 101 cents to 98 cents. BGLF paid dividends of 8 cents (2 cents […]
Hammerson has announced the successful syndication and signing of a £420 million unsecured Revolving Credit Facility at an initial margin of 90 basis points with a syndicate of eight international banks. This new facility will refinance the existing £150 million Revolving Credit Facility which would have matured in April 2017 which featured a margin of 150 basis […]
Aberdeen Asian Smaller Companies has published figures for the six months ending 31 January 2016. The MSCI AC Asia Pacific ex Japan Small Cap Index fell by 3.0% during this period with the company’s net asset value falling by 5.0%, while the share price declined by 5.7% to 730.0p (on a total return basis), reflecting a […]
P2P Global has published its accounts for the year ended 31 December 2015. P2P Global says it achieved positive NAV returns in every month of 2015, delivering a total NAV return of 6.56% for the ordinary shares. The capital raised for the C shares issued in late July 2015 was deployed in Q3 and Q4 2015. […]
Wolf Minerals shareholders have approved the establishment of a standby equity facility of up to £25 million with Resource Capital Fund (RCF). The company announced the agreement with its major shareholder, which holds an interest of almost 42%, in January this year. The facility will enable Wolf to strengthen its balance sheet during the ramp-up […]
Phaunos Timber Fund says its NAV decreased from US$321.3 million or US$0.57 per Ordinary Share to US$278.8 million or US$0.49 per Ordinary Share, a decrease of 13% over the course of 2015, reflecting the weakness of the company’s main operating currencies against the US Dollar. Revenue from timber operations and investment income increased from US$11.7 […]
Further to JPEL Private Equity Limited’s announcement on 11 March 2016 discussing the timeline for the implementation of the realisation share class, the company announces that holders of a majority of US$ Equity Sharesc have, in recent weeks, notified the Board that they no longer support the dual continuation share class and realisation share class […]
Premier Energy and Water Trust has announced that it has published a prospectus in connection with a placing programme. Shareholders approved the scheme, which allows for the company to issue up to 20m shares, at a general meeting on 19 April 2016. The company’s board say that it will enable them to promptly respond to investor demand […]
John Laing Environmental Assets has announced that it is proposing to raise up to £65m by way of a cash placing of new ordinary shares to institutional investors. The company says that the net proceeds of the Placing will be used to repay the Company’s facility to provide capital for pipeline acquisitions. On 17 March, […]
Prospect Japan Fund, which reports its results in US dollar terms, says that for 2015, it achieved a gain, in Dollar terms, of 19.13% as against the MSCI Japan Small Cap Index increase of 15.74%. The Yen:Dollar exchange rate at 31 December, 2015 was virtually unchanged from a year earlier. The largest contributors to 2015 […]
UK Commercial Property Trust has published its results for 2015. The Chairman says the fund delivered a NAV total return of 9.1% over the 12 month period, outperforming the FTSE All- Share Index return of 1.0% and the ten year gilt index of 0.8%. The return from UKCM was behind that of the IPD benchmark […]
Henderson Far East Income says its net asset value total return per ordinary share was 5.8% for the six months ended 29 February 2016. This compares favourably with the 3.9% total return on the FTSE All-World Asia Pacific ex Japan Index (sterling adjusted) over the same period. The share price total return per ordinary share […]
Foreign & Colonial Investment Trust has agreed to issue fixed rate senior unsecured private placement notes in tranches of (i) GBP25 million principal with a 12 year tenor, at a coupon of 2.80% and (ii) GBP50m principal with a 15 year tenor, at a coupon of 3.16%. The funding date for the notes is expected […]
BlackRock Greater European says its undiluted net asset value per share increased by 2.1%, compared with a decrease of 0.8% in the FTSE World Europe ex UK Index. Over the same period, the Company’s share price rose by 3.2% (all percentages calculated in sterling terms with income reinvested). Since the period end to 18 April 2016, the […]
The Board of JPMorgan Elect has announced that heads of terms have been agreed with the board of JPMorgan Income & Growth Investment Trust in relation to that company’s forthcoming reconstruction. JPMorgan Income & Growth, with £67.4m of net assets, has a fixed life and is due to wind up on or around 30 November […]
Threadneedle UK Select Trust’s net asset value total return was 5.7% for 2015, which compares favourably with the 1.0% total return from the FTSE All-Share Index, the benchmark against which the investment manager’s performance is measured. During the year under review, the share price decreased by 2.9% from 171.5p to 166.5p and the discount at which the […]
HICL Infrastructure Company Limited has announced the acquisition of a 30% interest in the M1-A1 Link Road (Lofthouse to Bramham) DBFO Road Project from Balfour Beatty plc for £14.5m. The project is a 30 year shadow toll PFI concession for the design, construction, financing, operation and maintenance of a motorway linking the M1, M621 and […]
Between 31 December 2014 and 31 December 2015, NB Global Floating Rate Income’s NAV per share dropped by 3.77% and 3.56% for the U.S. Dollar Ordinary Share and Sterling Ordinary Share, respectively. The NAV return plus dividends declared in the year was 0.08% and 0.32% for the U.S. Dollar Ordinary Shares and Sterling Ordinary Shares, […]
