In its interim results statement, The Investment Company reported a small fall in its net asset value over the second half of 2014 of 1.6% to 388p. The company was making distributions equivalent to 6% of its asset value each year. The Board has decided that this isn’t sustainable in the current market environment and […]
Over the second half of 2014 JPMorgan Global Convertibles Income generated a negative return on net assets of -4.8%. The return to shareholders was -5.8%. Two quarterly interim dividends of 1.125p have been declared so far. The target is to pay 4.5p for the year as a whole. Discussing the performance, the investment manager mentions energy […]
British Land has announced that it is paying £135m for Surrey Quays Leisure Park – the seller is Aviva Investors. When combined with Surrey Quays Shopping Centre and Harmsworth Quays, the former Daily Mail General Trust printing works, British Land has now assembled a 50 acre site close to Canada Water and Surrey Quays stations that it […]
Altin’s Board is planning to reduce the capital of the company by buying back up to 10% (382,386 shares) by issuing tradable put options to the share-holders. Every shareholder will receive one put option per Altin share held, free of charge. Ten put options entitle the holder to offer one Altin share to Altin for […]
Over 2014, intu Properties net asset value rose from 346p to 379p, an increase of 9.5%. this was achieved on the back of an increase in their underlying property value of 8.2% which was ahead of the return on the equivalent IPD index of 7.3%. The weighted average equivalent yield on their properties fell from […]
Bluefield Solar Income Fund has announced its interim results for the six months ended 31 December 2014. Over the period the fund expanded by £131m through a placing of new shares but the fund’s net asset value per share fell from 102.96p to 101.34p. They paid an interim dividend of 3.25p during the period and say […]
Macau Property Opportunities results for the six months ended 31 December 2014 have been published. Over the period the fund’s net asset value fell by 3.6% to $4.71 on property valuations down 2.1% to $547.6m (on an IFRS basis, where assets held for sale are valued at the lower of cost and net realisable value, the […]
RIT Capital Partners results for 2014 show the company generating a return on net assets of 9.5% and a return to shareholders of 13.3% as the discount narrowed from 9% to 5.8%. They are keen to stress that the performance has been achieved with a relatively low average exposure to equities of 56% over the year. The […]
Custodian REIT has added to its portfolio, paying £2.465m for a 17,384 sq ft, four storey office building in Glasgow city centre, with excellent transport links to junction 19 of the M8, Central and Queen Street train stations and Buchanan Street underground station. The property is let to four tenants with lease expiries between 30 […]
Pantheon International Participations’ interim figures, covering the second half of 2014, are pretty good. The net asset value rose by 11% and the share price by 10% (over a time when the FTSE All-Share didn’t deliver much of a return and the MSCI World returned 9.7%). The net asset value is now just shy of £1bn […]
City Natural Resources’ net asset value fell by 19.3% to 125.9p over the course of 2014. By contrast their benchmark index (a composite of 2/3 the Euromoney Global Mining Index and 1/3 the Credit Suisse High Yield Index) fell by 9.7% (with the mining index falling by 15.5% and the high yield index rising by 5.7%). […]
Kennedy Wilson Europe has published its first set of accounts covering the period from its launch until the end of December 2014. They raised £1,315m of equity during the period. The EPRA NAV at the end of the period was £1,382m or £10.27 per share. They had properties in the portfolio valued at £1,489m and […]
Sherborne Investors results for the year ended 31 December 2014 show the fund generating a return of 11.16% on net assets over the year. This is a lot better than the return on the FTSE All-Share Index but Sherborne Investors has just one investment – Electra Private Equity. Electra’s share price rose by 27% over […]
Ruffer syas that over the six months from 1 July 2014 to 31 December 2014, the net asset value per share of the Company rose by +3.9% after allowing for the dividend of 1.7p paid during the period. The Company’s share price performed better still (+6.8%) as the shares moved from a discount to a premium. […]
Jupiter Primadona Growth is reporting a 1.4% increase in its NAV for the second half of 2014 and a 2.8% total return (including dividends) – ahead of the return on the FTSE All-Share Index which fell by 0.4% but well behind the FTSE World ex UK Index which rose by 8.6% – their benchmark, a combination […]
Ottoman Fund has made a statement after its share price took a nose dive – releasing its Chairman’s statement early, in advance of figures due out tomorrow. The statement summarises disposals made in the portfolio to date, highlights the chance that they may have to sell their Alanya holiday units for less than their reported […]
Dolphin Capital has announced this morning that “Following consultation with the majority of the Company’s shareholders, the Investment Manager, its Nominated Adviser and the existing Board, the new members of the Board and their respective roles will be as follows: Laurence Geller, Independent Non-executive Chairman; Robert Heller, Independent Non-executive Director; Graham Warner, Non-executive Director; Mark […]
Sherborne Investors has written to the Board of Electra proposing a resumption of discussions about board representation and participation in an expanded review of options to increase Electra’s shareholder value and threatening to requisition a meeting of shareholders if Ian Brindle, Edward Bramson and a new independent director aren’t appointed to the board of Electra. Given the resounding rejection […]
Symphony International Holdings Limited has published Q4 figures and full year results for the year ended 31 December 2014. At 31 December 2014 the net asset value was US$705,412,021 and NAV per share was US$1.3473. This compares to NAV and NAV per share of US$767,400,667 and US$1.4657, respectively, at 30 September 2014 and represents a 14.6% increase […]
Jupiter US Smaller Companies has announced interim results for the six months ended 31 December 2014. Over this period the fund underperformed its benchmark, the Russell 2000 index, by 6% – the NAV rose b y 4.7% vs. a 10.7% increase in the Index (in Sterling terms). The report says the main reason for this […]
New City High Yield’s interim results statement for the six months ended 31 December 2014 shows the company generating a negative return on net assets of -2.1% but a return shareholders of +2.1% as the company moved to trade on a higher premium. The net asset value slipped by 5.8% but the dividend was increased by […]
The Renewables Infrastructure Group has announced results for the year ended 31 December 2014. Over the period the net asset value rose slightly from 99p to 99.3p, the company paid total dividends for the year of 6.08p and the total return to shareholders was 7.5% – well ahead of the 1.2% return on the FTSE […]
Temple Bar has published results for the year ended 31 De ember 2014. Over the period the fund returned -1.7% on net assets, behind the 1.2% return on the fund’s benchmark index, the FTSE All-Share. The fund borrowed £50m for 15 years in 2013 but still hasn’t spent any of the money on equities, the […]
Sanditon has published its first set of interims since listing. Having started operations with a net asset value of 98.7p, the fund ended 2014 with a net asset value of 99.2p. At one point on the period though the net asset value had touched 103.1p. The fund kept its net exposure to the market fairly […]
Qatar Investment Fund reported NAV growth of 8.6% for the second half of 2014, compared to a 6.9% increase in the Qatar Exchange Index. They paid a dividend of 3.5 cents per share. the discount widened to 12.1% meaning that the return to shareholders was 5.1%. The Qatar Exchange was the only one in the […]
At Baker Steel Resources Trust’s EGM held on Monday 23 February all the resolutions were passed. the issue price for shares available under the open offer was 36.2p and 3,368,488 new shares are being issued in response to that (the share price is still c10% below the 36.2p level so the low level of take up is maybe […]
BlackRock Latin American has published its results for the year that ended on 31 December 2014. over that period the fund outperformed its benchmark. The total return on net assets was -9.3% – better than the -12% return on the MSCI Latin America Index. the return to shareholders was -4.0%. The final dividend is being […]
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