News

GPOR : Development activity drives NAV growth at Great Portland Great Portland Estates reported an 11.8% uplift in its EPRA net asset value for the six months ended 30 September 2014 on the back of an 8.9% uplift in the value of the portfolio. earnings per share were up 11.3% to 5.9p and from this they […]

GLIF : GLI says Finexkap secures funding GLI Finance has announced that its French peer to peer factoring investment, Finexkap, has secured funding of $22.5m ($7.5m in series A equity and $15m to finance lending). Following the transaction GLI has a 26.4% stake in Finexkap. The other external investors in Finexkap now include Finsight, a […]

HFEL : Henderson Far East Income fails to match benchmark Henderson Far East Income, managed by Michael Kerley (pictured), has reported a total return of 11.2% on net assets for the year that ended on 31 August 2014, underperformance of its peer group, which returned 12.1%, and its benchmark (the FTSE All World Asia ex Japan […]

CGT : Capital Gearing hails positive performance Over the six months that ended on 5 October 2014 Capital Gearing managed to deliver growth in its net asset value of 1.2%. The Chairman says “A 1.2% return is not a cause for wild celebration; however in an environment of overinflated asset prices and significant macro-economic and […]

WKP : Workspace posts 20% rise in NAV Workspace has announced its results for the six months ended 30 September 2014. they say that over this period the EPRA NAV is up 20% to £5.97 from £4.96 on a 15% increase in property values. Earnings per share rose 27% to 8.4p and from this they […]

SGRO : SEGRO sells £153m logistics portfolio SEGRO has sold a logistics portfolio, comprising six logistics properties and a smaller regional warehouse for £153.3m – 3% more than the value of the properties in SEGRO’s accounts at the end of June. The portfolio was capable of generating £11.2m in rents. The 185,331 sq m portfolio comprises […]

MCP : Martin Currie Pacific underperforms in transitional period Martin Currie Pacific said the MSCI Asia ex Japan index rose by 8.65% over the six months that ended on 30 September while the company’s NAV on a total return basis increased by 6.69% and the share price by 10.52%. The company changed its mandate during […]

LAND : Land Securities beats IPD in busy six months Land Securities has generated an 11.5% uplift in net asset value and a 7.5% uplift in earnings per share over the six months that ended on 30 September 2014. The ungeared return on property was 9.9% – ahead of the 9.3% return on the IPD […]

KWE : Kennedy Wilson Europe buys in Buckingham Palace Road Kennedy Wilson Europe says it has bought the company that owns 111 Buckingham Palace Road, Victoria SW1 for £207.5m, which equates to a yield of 5.1%. 111 Buckingham Palace Road is a 227,165 sq ft landmark, Grade A London office building. It is fully occupied with a […]

BIOG : Another great period for Biotech Growth Trust Biotech Growth Trust beat its benchmark over the six months that ended on 30 September 2014 delivering a return on net assets of 20.3% vs. a return on the NASDAQ Biotechnology Index of 19.1%. The share price return was 21.4%. Top contributors to performance in the […]

CGW : Chelverton Growth Trust driven by uplift in unquoted holdings Over the year to the end of August 2014 Chelverton Growth Trust generated outperformance over the MSCI Small Cap UK Index with a total return on net assets of 14.5% vs. a 7.5% return on the index. The company’s rating improved dramatically (from a discount […]

BSRT : Baker Steel set for massive expansion Baker Steel Resources Trust, which at close of business on Friday 7 November had a market capitalisation of £19.8m and was trading at a discount of 47.2%, has announced details of a considerable expansion of the fund via 1) a stock swap of investments for new equity […]

GPOR : Great Portland Estates sells 12/14 New Fetter Lane Great Portland Estates is selling its leasehold interest in 12/14 New Fetter Lane (London EC4) for £165.8m. The sale price works out at a yield of 4.5%. The 142,500 sq ft office building is still under construction (supposed to be finished in Q4 2015) and […]

BC12 : Better Capital buys Walkabout Better Capital 2012 cell has bought all the debt facilities of iNTERTAIN and its subsidiary companies. iNTERTAIN was set up in 2009 to acquire the trading assets of Regent Inns and now owns a chain of bars across the UK, most of which trade as Walkabout. iNTERTAIN made a £3m […]

WKP : Workspace buys in Fleet Street Workspace Group is acquiring 160 Fleet Street for £29.7m. They describe it as “a beautiful Portland stone period building, originally constructed in the 1920’s and entirely refurbished in 2009 to include a new reception, gym, breakout areas and a dedicated suite of meeting rooms”. the building has 54,000 […]

BTEM : British Empire hedges yen exposure British Empire Securities delivered a return on net assets of 6.8% over the year to 30 September 2014 – ahead of the 5.1% return on the company’s benchmark (MSCI All Country World ex-US Index). Shareholders also saw the discount narrow resulting in a return to them of 8.9%. […]

TCA : Terra Capital changes to management arrangements The management fee payable to the Investment Manager shall be reduced with effect from 1 January 2015 from 2 per cent. per annum of the net asset value of the Company to 1.25 per cent of the net asset value of the Company and the level of […]

POL : Polo Resources invests in Weatherly International Polo Resources is investing in copper miner, Weatherly International. Weatherly is an AIM traded mining development and exploration company focusing on copper in Namibia. Weatherly’s copper portfolio includes the following assets in Namibia: two mines named Otjihase and Matchless which are in production; Tschudi – an open […]

EPIC : Ediston Property buys initial portfolio Ediston Property, which listed on 28 October, has announced that it has completed the purchase of its initial property portfolio for £76.7m. The portfolio comprises, offices at 145 Morrison Street, Edinburgh; Offices at St  Philips Point, Temple Row, Birmingham; Offices at Phoenix, Station Road, Reading; a retail park in Rhyl,  […]

QIL : Qannas investing in Hard Rock Cafes Qannas Investments is funding the establishment of three Hard Rock cafes in Eastern Europe the first of which is to be located in the Atlas Capital Centar in Podgorica, Montenegro. Qannas is putting up $3m to fund the development. They say the running of the café will sit within […]

SMT : Strong performance helps Scottish Mortgage become no.1 Scottish Mortgage beat the FTSE All-Share Index by some margin over the six months that ended on 30 September 2014. Over that period the total return on net assets was 9.0% vs. 4.4% for the index. What’s more, the fund’s rating improved so that the return […]

RSE : Riverstone Energy says CNOR investing in Tourmaline Canadian Non-Operated Resources Corp, which Riverstone funded in August 2014, is investing to take a 25% interest in Tourmaline Oil’s Peace River High operated area in Alberta, Canada. They get 25% of the existing complex (all lands, wells, production, reserves, and facilities) for C$500m. Tourmaline will use the […]

SOI : Scottish Oriental Income lags benchmark marginally Schroder Oriental Income’s results for the year ended 31 August 2014 have been published this morning. It just failed to match the return on its benchmark index, the MSCI All Countries Pacific ex Japan, delivering a total return of 10.9% for the period vs. the index’s 11.3%. […]

AGR : Assura adds another 11 medical centres Assura Group is buying a portfolio of 11 medical centres for £63.6m. The 11 medical centres  have an average lot size of £5.7m, an unexpired lease term of 20.3 years and the majority are under five years old.  The centres support the work of approximately 90 GPs […]

3IN : 3i Infrastructure makes 10% in first half Strong performance from 3i Infrastructure’s European portfolio and rolling stock investments helped drive a 10.6% return on net assets for the fund for the six months that ended on 30th September. 3i Infrastructure holds two rail rolling stock investments – Eversholt Rail and XLT. Strong competition […]

HNE : Henderson Eurotrust writes down OW Bunker Henderson Eurotrust is writing down the value of its investment in OW Bunker to zero. this was 1.13% of the portfolio at 31 October 2014. The reason for the write down says HNE is that fraud has been discovered in OW Bunker’s Singaporean subsidiary. The write down […]

ALAI : Tough year for Aberdeen Latin American Income Aberdeen Latin American Income underperformed its benchmark over the year that ended on 31 August 2014. The total return on net assets was 10.4% vs. a return of 12.7% for the benchmark (60% MSCI EM Latin America 10/40 Index and 40% JP Morgan GBI-EM Global Diversified (Latin […]

CREI : Custodian REIT buys in Warrington Custodian REIT is buying a warehouse in Warrington let to JTF Wholesale Limited for £6m. The 112,435 sq ft warehouse sits on 6.84 acres of land on the Chesford Grange estate in Warrington – just off j21 of the M6 motorway. JTF Wholesale Limited operate 13 wholesale warehouses around […]

INPP : International Public Partnerships makes biggest ever investment International Public Partnerships has completed an investment into the Lincs offshore transmission project, committing £171m to it – the company’s largest single investment to date. The project links the 270MW Lincs windfarm to the National Grid via 100 kilometres of subsea cables and other related infrastructure […]

SST : Wee-Li back in charge as SST outperforms Scottish Oriental Smaller Companies has managed to outperform its benchmark for the year that ended on 31 August 2014. Over the period the fund generated a return on net assets of 13.5% vs. 13.0% for the MSCI AC Asia ex Japan Smaller Companies Index. Shareholders did […]