Alpha Real Trust, the real estate debt specialist, has proposed delisting its shares from the Specialist Fund Segment and offering shareholders a tender offer at NAV. The company is majority owned by Alpha Global Property Securities Fund Pte. Limited and persons acting in concert with Alpha Global, which together own 88% of shares in the […]
In QuotedData’s morning briefing 6 December 2024: Keystone Positive Change (KPC) has published a circular in relation to its proposal to wind up, which was announced on 30 September (click here to see our coverage of that), and also discussed in its results for the year ended 30 September 2024 (click here to read our […]
Lowland has published results for the year ended 30 September 2024 and they are good. The NAV return came in at 16.3%, ahead of the 13.4% return posted by the All-Share. The discount narrowed from 14.2% to 13.1% [still too wide but headed in the right direction], which meant that shareholders got a return of […]
BlackRock Frontier Markets has announced results for the 12 month period ended 30 September 2024. Over that period, the NAV return was 16.5% (in US dollar terms, or 6.0% in sterling terms) ahead of the 15.7% (+5.3% in £) return posted by the trust’s benchmark index (MSCI World Frontier Markets). The discount widened marginally from […]
In QuotedData’s morning briefing 5 December 2024: Following yesterday’s announcement of a potential continuation vote for Finsbury Growth and Income (FGT), portfolio manager Nick Train spent £223k on 25,000 shares in the company, taking his holding to 5,485,043 shares or 3.5% of the trust. Dunedin Enterprise (DNE), which has been in managed wind down for […]
Home REIT has received a tender offer from Southey Capital Ltd for its shares at 4p each, valuing the company at around £32m. Southey said that the offer provides shareholders with an opportunity to realise liquidity before a full de-listing. The board of Home REIT said that it was not contacted by Southey ahead of […]
Finsbury Growth & Income Trust (FGT) announced its annual results for the year ended 30 September 2024. The company delivered a NAV total return of 8.2% compared with a benchmark total return of 13.4%. The share price return over the same period was 3.4%, reflecting a widening of the discount to NAV which was 8.5% […]
In QuotedData’s morning briefing 4 December 2024: Aurora UK Alpha (ARR) announced that following the proposed combination with Artemis Alpha Trust, it has changed its name to Aurora UK Alpha plc. The company will continue to trade under the ticker ARR. SDCL Energy Efficiency Income (SEIT) announced its interim results for the six months to […]
Schroder AsiaPacific Fund (SDP) announced its annual report for the year ended 30 September 2024. The company delivered a NAV total return of 16.5%, although this lagged the benchmark return of 17.3%. The share price produced a total return of 15.6% leading to a marginal increase in the discount which now sits at 13.4%. The […]
In QuotedData’s morning briefing 3 December 2024: HgCapital Trust (HGT) Hg, the manager of HgCapital Trust, today announced that it has agreed the sale of Dext Software Ltd, a leading bookkeeping automation platform provider, to IRIS Software Group, a leading global provider of accountancy, education management, HR and payroll solutions. The terms of the transaction […]
Bellevue Healthcare (BBH) says that, following the redemption requests in relation to its annual redemption facility that saw some 36% of shareholders request redemption, its board has been consulting with shareholders about the annual redemption facility and now believes that the future viability of BBH will be stronger if the annual redemption facility is replaced […]
Schroder BSC Social Impact (SBSI) has adopted the “Sustainability Impact” label and will continue to be considered an “impact fund” under the FCA’s Sustainability Disclosure Requirements and investment labelling regime. VH Global Sustainable Energy Opportunities has changed its name to VH Global Energy Infrastructure with effect from today, and its ticker will be changed to […]
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: Harmony Energy Income (0:40) Gresham House Energy Storage (2:51) Caledonia Investments (5:40) This week we hosted a panel discussion between Thomas Moore from abrdn Equity Income, David Moss from CT UK High Income Trust […]
If you missed the announcement that followed today’s quarterly panel show, here are the winners of our inaugural QuotedData’s Investors’ Choice Awards Many thousands of you visited our dedicated Awards website. One lucky voter won the £5,000 prize for correctly predicting all the winners. A big thank you to our sponsors: Cazenove Capital and Stonehage […]
If you look across the investment companies’ space, it is clear there is still strong demand for trusts that can provide investors with an attractive level of income which is reliable and, ideally, has some degree of both inflation protection and capital preservation. Despite the environment of higher interest rates that has prevailed over the […]
Harmony Energy Income Trust has updated the market on its asset sale process alongside issuing its latest NAV and providing a portfolio update for the three months ended 31 October 2024. Key highlights from the announcement are as follows: The unaudited NAV at 31 October 2024 was £201.04m, or 88.51 pence per share, a decrease […]
CT UK Capital and Income (CTUK) has published its annual results for the year ended 30 September 2024, during which it provided an NAV total return of 18.4% and a share price total return of 16.6%, both outperforming its All-Share benchmark, which it says provided a total return of 13.4%. Unfortunately, the announcement does not […]
Gresham House Energy Storage (GRID) has published a trading update and the highlights of its three-year plan, which were presented at its capital markets day on 27 November 2024. In its trading update, GRID says that its financial position is improving. Its capital allocation policy in 2024 has focused on cash preservation which it says […]
The takeover of Spanish REIT Lar Espana was approved by the National Securities Market Commission (CNMV) yesterday, paving the way for the deal to go through. The offer by Helios Real Estate, a consortium made up of Hines and Grupo Lar, at €8.30 values the company at just under €695m. [We published a research note […]
Baker Steel Resources (BSRT) has announced that it and the other 3 main shareholders of Nussir ASA, together representing 70.8% of Nussir’s issued share capital, have agreed to sell their shares in Nussir to Blue Moon Metals Inc. The transaction values Nussir at US$55.3m and is conditional upon Blue Moon: raising between US$21.4m and US$35.7m […]
In QuotedData’s morning briefing 29 November 2024: Bellevue Healthcare (BBH) has announced the redemption price for its annual redemption opportunity at 154.76p per share. This was calculated as the aggregate cash received by BBH from the realisation of the redemption pool, after deducting the costs of the redemption, and a pro-rata share of the costs […]
Schroder UK Mid Cap results for the 12 months ended 30 September 2024 came in behind its benchmark. The NAV total return for the period was 17.3% versus 21.4% from the FTSE Mid 250 ex Investment Trusts Index. The share price total return was +17.5%. The discount widened marginally, from 12.0% at the beginning of […]
Over the 12 months ended 30 September 2024, abrdn Equty Income Trust generated an NAV total return of 13.3% and a share price return of 10.4%. The NAV return was only just behind the 13.4% return posted by the All-Share Index, but the discount widened from 0.2% to 3.0%. Revenue per share for the period […]
In QuotedData’s morning briefing 28 November 2024: Scottish Oriental Smaller Companies (SST) says its lead manager Vinay Agarwal has left FSSA Investment Managers by mutual agreement. The trust’s new lead manager is Sreevardhan Agarwal, who is now in charge of the portfolio. Sree has acted as the company’s deputy manager and, latterly, co-manager for the past […]
Keystone Positive Change (KPC) has announced its annual results for the year ended 30 September 2024. Over the year, the company’s NAV total return was 2.2% compared to a total return of 20.4% for the benchmark index. The share price total return for the same period was 13.5% as the discount narrowed from 14.0% to […]
In QuotedData’s morning briefing 27 November: APAX Global Alpha (AGA) has announced that it expects to invest approximately €28m in the accountancy and advisory practice of Evelyn Partners on a look-through basis. On 25 November 2024, the Apax XI Fund, in which AGA is a limited partner, announced that it had reached a definitive agreement to acquire Evelyn […]
Caledonia Investments is convening a meeting to ask shareholders to approve a ‘Rule 9 waiver’ – this is part of the Takeover Code. Currently, a ‘concert party’ of shareholders connected to the Cayzer family controls 49.49% of the trust’s shares and voting rights. Ordinarily, at its AGM it would ask shareholders to approve a Rule […]
NextEnergy Solar Fund (NESF) announced it has published its first Nature Strategy Report, which you can view in full here. The report outlines NextEnergy Solar Fund’s strategic plan for nature and nature targets, consolidating and building upon the lessons learned from 10 years of active engagement with the environment surrounding its assets since IPO. It […]
Baillie Gifford European Growth Trust (BGEU) announced its annual results for the year ended 30 September 2024. The company delivered a NAV total return of 12.1% compared to a total return of 15.3% for the comparative index. The share price total return was 9.3%. At the time of publishing, the company’s discount sat at 17%. […]
In QuotedData’s morning briefing 26 November 2024: LondonMetric Property (LMP) reported a 2.1% uplift in EPRA net tangible assets (NTA) to 195.7p per share over the six months to 30 September 2024. The company’s portfolio of predominantly urban logistics and long-income assets was up 1.1% to £6.2bn. Net rental income increased 154% to £193.1m, while […]
