Here at QuotedData we spend a lot of time thinking of new ways to get the message across that the best investment companies can make the best long-term investments. Every year, the industry hands out awards to the managers and trusts that it thinks are doing the best job for investors, but we thought – […]
Henderson High Income (HHI) has published its interim results for the half-year ended 30 June 2024, during which it provided an NAV total return of 6.5%, outperforming its benchmark, which returned 5.9%, although the share price total return was less at 3.4% reflecting a widening of the discount. The NAV outperformance was achieved during a […]
Chrysalis (CHRY) has signed a definitive agreement with Visa to sell Featurespace “for an undisclosed sum”. However, Chrysalis expects to receive cash proceeds of approximately £89m (gross of deferred payments, typical of this type of transaction; initial consideration is expected to be approximately £79 million), which represent a 20% premium (equating to an NAV uplift […]
abrdn Property Income Trust (API) has entered into an agreement to sell its entire share capital to funds managed by GoldenTree Asset Management for £351m. The transaction comprises the sale of 39 assets (the company’s entire investment property portfolio, with the exception of its interest in the land at Far Ralia). API’s debt facility with […]
Schroder British Opportunities (SBO)says that it has been informed by Rory Bateman, co-portfolio manager of its portfolio and co-head of investment at Schroders, that he intends to retire from Schroders in February 2025. Rory has managed the company’s public equity portfolio alongside Tim Creed, Schroders Capital’s head of private equity investments and manager of SBO’s […]
In QuotedData’s morning briefing 27 September 2024: BioAge Labs, Inc., a portfolio company of RTW Biotech Opportunities (RTW), has completed a US$198m initial public offering (IPO) and is now trading on the Nasdaq Global Select Market under the ticker: BIOA. The company raised the US$198m by offering 11,000,000 shares at US$18.00 per share and, as […]
Pantheon Infrastructure’s interim numbers are very encouraging. The NAV continues to climb, the portfolio looks to be in good shape, and the board has felt confident to hike the full-year target dividend by 5% to 4.2p. However, given the discount that the shares trade on is preventing PINT from raising fresh capital, it has had to […]
Schroder Japan results for the 12 months ended 31 July 2024 have been published and they are good. The NAV total return was 21.0%, outperforming the benchmark’s total return of 16.4%. However, the share price return was 16.1%. During the year, the company repurchased a total of 2,503,437 shares. Revenue during the year increased from […]
Tufton Oceanic results for the 12 months ended 30 June 2024 show an NAV total return for the period of 20.6%. The share price rose from US$0.99 per share as at the close of business 30 June 2023 to US$1.21 per share as at the close of business 30 June 2024. On average, the shares […]
JPMorgan Emerging Markets has published results for the year ended 30 June 2024. The company’s NAV returned lagged its MSCI Emerging markets benchmark by six percentage points, returning 7.2% to the index’s 13.2%. The share price return for the period was 4.6%. The full year dividend will be 1.9p, up 15.2% on the previous year. […]
Invesco Global Equity Income results for the 12 months ended 31 May 2024 show it marginally behind its MSCI World Index benchmark, returning 21.0% to the index’s 21.6%. However, a narrowing discount did help the shares to a 26.9% return. The period end came just after the 7 May conclusion of the merger of the […]
abrdn Property Income Trust (API) has confirmed that it is in advanced discussions to sell its entire portfolio to funds managed by GoldenTree Asset Management. News of the sale was first reported by CoStar, which said that the price agreed for the portfolio was around £350m. This would be at a discount of 13.7% to […]
Manchester & London’s results for the year ended 31 July 2024 reflect the success of its AI-related investments. The NAV total return for the period was 55.4%. The share price rose by 56.1%, narrowing the discount a little to 15.3%. The dividend has been increased by 50% to 21p. [The trust is amongst the best-performing […]
Strategic Equity Capital’s results for the year ended 30 June 2024 show an NAV total return of 16.6% and share price return of 19.2% (as the discount narrowed a little). The NAV returns came in just behind the 18.5% return posted by the FTSE Small Cap Index. Revenue per share rose to 4.15p and the […]
Downing Renewables & Infrastructure Trust says it has entered into exclusive discussions in relation to the sale of its entire interest in Gabrielsberget wind farm in Sweden. The offer price is at a small premium to the carrying value as at 30 June 2024 and the transaction is anticipated to complete in Q4 2024, turning […]
In QuotedData’s morning briefing 26 September 2024: RM Infrastructure Income (RMII) says its latest tender was taken up in full – 19,738,338 shares will be bought back at the tender price of 88.59p (equivalent to the NAV as at 30 August 2024). The money should be in your account on Monday. Iona Star LP, the […]
Chrysalis Investments (CHRY) announced that it has agreed to a £70m debt facility with Barclays Bank. In addition to the committed £70m, the facility also includes an uncommitted accordion of £15m. The announcement comes after recent discussions that the company was considering options to enhance liquidity and so enable its capital allocation policy to take […]
In QuotedData’s morning briefing 25 September 2024: North Atlantic Smaller Companies Investment Trust (NAS) reported its interim results for the six month period to 31 July 2024. The NAV total return was 8.3% compared to 12.9% in the benchmark index. Performance was adversely impacted by the trust’s large cash holdings and the underperformance of the […]
In QuotedData’s morning briefing 24 September 2024: The boards of NewRiver REIT (NRR) and Capital & Regional (CAL) have reached agreement on the terms of a deal that would see NRR acquire CAL and are recommending shareholders of both companies to vote in favour of it. The deal would see each CAL share receive 31.25p […]
Brown Advisory US Smaller Companies (BASC) has published its annual report for the year ended 30 June 2024, during which its NAV per share increased by 2.8% from 1,431.9p to 1,471.4p. BASC’s chair, Stephen White, describes this small gain as “somewhat disappointing” – not only in absolute terms as smaller companies in the US lagged […]
In QuotedData’s morning briefing 23 September 2024: Literacy Capital (BOOK) has secured a new Revolving Credit Facility (RCF) with OakNorth Bank Plc, which has replaced its existing £30m RCF that was due to expire in December 2024. The new RCF has a three-year term, which will expire in September 2027, and provides BOOK with up […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: New River REIT and Capital & Regional (0:29) Cost disclosures (3:08) We hosted a panel discussion between David Bird from Octopus Renewable Infrastructure Trust, Neil Hermon from Henderson Smaller Companies Trust, Georgina Brittain from […]
The board of Alliance Trust (ATST) announced on 12 September that the forthcoming vote on its merger with Witan will be held on 1 October. This will undoubtedly be a pivotal event, as their combination could be the catalyst for ATST’s entry into the FTSE 100. We believe investors should vote in favour of the […]
A lot has been made of the concentration in the US market, but the concentration of European markets has been less widely discussed. Just as the S&P 500 has been focused on a handful of large cap companies linked to a narrow theme, the MSCI Europe also has a significant weighting to Novo Nordisk and […]
European Opportunities (EOT) has published its annual results for the year ended 31 May 2024, during which it provided NAV and share price total returns of 15.5% and 16.5% respectively, which compare to a total return of 17.3% from its benchmark, the MSCI Europe Index, of 17.3% (all in sterling terms). The manager notes that […]
In QuotedData’s morning briefing 20 September 2024: JPMorgan Japanese and JPMorgan Japan Small Cap Growth & Income (JSGI) have both published prospectuses and circulars in relation to the merger proposals that were announced on 31 July 2024 (click here to see our coverage of that announcement) Baillie Gifford Shin Nippon (BGS) has published its interim […]
In the age of AI, having a leader with technical expertise can make all the difference. Scottish Mortgage manager Tom Slater explores how Meta, Shopify, Roblox and Spotify all benefit from chief executives with deep understanding of developing technologies. As with any investment, your capital is at risk. In combat, the US Air Force follows […]
This morning, HM Treasury, the FCA, and Tulip Siddiq (Economic Secretary to the Treasury and City Minister) announced plans to reform UK retail disclosure rules. They also said that, in the meantime, investment trusts will be temporarily exempted from assimilated EU law requirements (i.e. compliance with EU-inherited Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulations). […]
Downing Renewables & Infrastructure Trust (DORE) announced its interim results for the six months to 30 June 2024. The company’s NAV total return was flat over the period, although is up 4% over the past 12 months. The share price total return fell 9% and the discount was 33% at the time of publishing. Interim […]
In QuotedData’s morning briefing 19 September 2024: GCP Asset Backed Income Fund (GABI) announced its interim results for the six months to 30 June. The main development for the period was the decision to undertake a managed wind-down of the company and realise all existing portfolio assets. Strong progress was made in this regard with […]
