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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

13 Jun 2023
digital9 infrastructure logo

Better times ahead for new management of DGI9

Digital 9 Infrastructure (DGI9), has announced the appointment of additional personnel to the Triple Point Investment Management digital infrastructure team. Further to the previous announcement on 1 December 2022, Triple Point has completed the competitive recruitment and selection process to appoint a new Head of Digital Infrastructure. Triple Point and the board of D9 have […]

Sectors
13 Jun 2023
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 13 June 2023

Atrato Onsite Energy (ROOF) announced its interim results for the six month period ended 31 march 2023. The company’s performance was generally positive with a modest improvement in NAV, which was up around 1%, while revenue growth came in 9% ahead of budget. Dividends were flat. Still, shares fell 14% during the period dragging the […]

Companies
12 Jun 2023
230612 TEM

TEM produces positive returns in a difficult market

Templeton Emerging Markets (TEM) has announced its annual results for the financial year ending 31 March 2023. Over the 12 month period TEM reported a NAV total return of 0.8% and share price total return of 0.5%. This compares to the -4.5% total return of its benchmark the MSCI Emerging Markets Index. Stock selection in […]

Sectors
12 Jun 2023

In a rare move, PNL fails to keep up with inflation

Personal Assets Trust (PNL) has released its annual results for the financial year ending 30 April 2023. Over the 12 month period PNL reported a NAV total return of -0.9%, and share price total return of -3.0%, this compares to the 6.0% total return of the FTSE All-Share Index. PNL’s main objective is to preserve […]

Sectors
12 Jun 2023

QuotedData’s morning briefing 12 June 2023

In QuotedData’s morning briefing 12 June 2023: As of 7:30 today, The FCA has suspended the shares of abrdn Latin American Income Fund at the request of the trust. This is part of the trust intention to be wound up, as was announced on 18 May 2023. Syncona (SYNC) has announced the launch of a […]

Companies
09 Jun 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 9th June 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • ThomasLloyd Energy Impact (0:20) • The Investment Company (6:28) • Civitas Social Housing (8:20) This week’s interview was with James Thom from abrdn New […]

Sectors
Companies
09 Jun 2023
230609 ai

QD view – AI mania driving tech recovery

Big getting bigger One of the dominant, and for most investment managers highly frustrating, trends of recent times has been the strength of the mega caps. It was really evident in the UK last year, where a handful of large stocks drove indices higher and, if you were underweight those, as most active managers would […]

Sectors
Companies
09 Jun 2023

Syncona’s Quell announces AstraZeneca deal

Syncona has announced that its portfolio company Quell Therapeutics has signed a collaboration agreement with AstraZeneca to develop, manufacture and commercialise autologous, engineered Treg cell therapies for two autoimmune disease indications. Under the agreement, Quell’s proprietary toolbox of Treg cell engineering modules, including its Foxp3 Phenotype Lock, will be used to develop autologous multi-modular Treg […]

Sectors
09 Jun 2023
230330 inv the investment company

The Investment Company announces proposals for its future

Further to its announcement on 30 March 2023 (click here to see our coverage), The Investment Company (INV) has announced that it expects to publish a circular and prospectus shortly, in relation to the following proposals, which require shareholder approval: appointment of Chelverton Asset Management Limited (“Chelverton”) as external investment manager to the company; amendment […]

09 Jun 2023
230601 morning 1

QuotedData’s morning briefing 9 June 2023

In QuotedData’s morning briefing 9 June 2023: International Public Partnerships (INPP) has reached financial close on its acquisition of five New Zealand availability revenue-based social infrastructure investments (as announced on 9 December 2022), following regulatory approval from New Zealand’s Overseas Investment Office (‘OIO’). These are INPP’s first New Zealand investments and the c.NZD 218m (c.£108m) […]

Sectors
Companies
08 Jun 2023

Schroder REIT ups dividend after strong portfolio performance

Schroder REIT increased its dividend by 14% last year on the back of strong operational performance. Estimated rental growth (ERV) on the diversified portfolio (which is skewed towards industrial assets) was up 9.2% in its financial year to 31 March 2023, while EPRA earnings was up to 3.3p per share. This fully covered the dividend […]

Sectors
08 Jun 2023
230608 sts

Fairly flat returns from STS Global Income & Growth

STS Global Income & Growth Trust (formerly Securities Trust of Scotland) has announced results for the year ended 31 March 2023. Unfortunately the trust underperformed, the NAV return for the year was -1.8%, and the share price total return was -4.8%, compared to a total return of +0.5% in the Lipper Global – Equity Global […]

Sectors
08 Jun 2023
230608 fcss

End to zero COVID policy and gearing boost Fidelity China

Fidelity China Special Situations reports that, for the 12 months ended 31 March 2023, its NAV total return was 2.6%, just ahead of MSCI China, which returned 1.4%. The return to shareholders was 0.3%, as the discount widened to 9.7% at the end of the year compared to 7.5% last year. The dividend was increased […]

Sectors
08 Jun 2023
a stack of newspapers next to a mug of tea 230601 morning 2

QuotedData’s morning briefing 8 June 2023

In QuotedData’s morning briefing 8 June 2023: Pershing Square (PSH) plans to buy back an additional $100m worth of its shares. Since March 2017, when its buybacks started, it has repurchased over 60m shares at a cost of $1.14bn. BioPharma Credit (BPCR) has agreed amended terms with its borrower LumiraDx. We discussed the problems that […]

Companies
07 Jun 2023
230518 ajot

AVI Japan rebuts NCHD’s opposition to its proposals

The following comes from a press release that AJOT published this morning and relates to an earlier story. As announced in a press release dated 18 May, Asset Value Investors Limited (“AVI”) has submitted a shareholder proposal to NC Holdings (TSE: 6236, “Company”) to contribute to the best interests of shareholders. However, the Board of […]

07 Jun 2023
home reit logo over a picture of a residential street

New article illustrates extent of Home REIT manager’s failings

Investment Week has a story this morning – ‘The circle is collapsing’: How a demolished house in Lancashire uncovered Home REIT’s broken business model – that details some frankly astonishing due diligence failings at Home REIT. You may have to register to read the article but here is a link to it. [I have been […]

07 Jun 2023

LXI REIT seeing benefits of merger, bullish on outlook

LXI REIT has reported its first results since its merger with Secure Income REIT, showing “material cost savings” feeding through to earnings growth. EPRA earnings per share (EPS) was up 36.1% to 8.3p (31 March 2022: 6.1p), while adjusted cash EPS was up 17.5% to 6.7p for the year (31 March 2022: 5.7p). This fully […]

Sectors
07 Jun 2023
Biotech overweight hurts Worldwide Healthcare

Another down year for Worldwide Healthcare

Worldwide Healthcare Trust (WWH) has released its annual report for the year ended 31 March 2023. The company’s net asset value per share total return was -0.1% and the share price total return was -4.1%, underperforming the benchmark MSCI World Health Care Index measured on a net total return, sterling adjusted basis, which returned +2.5% […]

Sectors
07 Jun 2023

QuotedData’s morning briefing 7 June 2023

Pantheon Infrastructure (PINT) announced a £52.5m increase to its existing £62.5m multicurrency revolving credit facility bringing the total to £115m. The increase in the loan facility provides the company with additional liquidity to support further investment in high-quality infrastructure assets from PINT’s near-term investment pipeline. The loan facility is currently undrawn. abrdn Diversified Income and […]

Companies
06 Jun 2023
230607 tlei debacle

ThomasLloyd Energy Impact Trust finally details the gravity of the Indian debacle

ThomasLloyd Energy Impact Trust (TLEI) has provided an update to its share suspension, and the status of its Rewa Ultra Mega Solar Park (RUMS) Project which led to said suspension. This was labelled as a notice of AGM and dividend declaration announcement, which may have meant that investors missed it. The RUMS project is held […]

Sectors
06 Jun 2023

JPMorgan European Growth & Income beats its benchmark while still growing its dividend

JPMorgan European Growth & Income (JEGI) has released its annual report for the year ended 31 March 2023. The total return on net assets for the company’s ordinary shares was +9.9% (debt at par value) and +12.5% (debt at fair value). Both of these returns compare well with its benchmark, MSCI Europe ex UK, which […]

Sectors
06 Jun 2023
230113 Japan

Another challenging year for abrdn Japan Investment Trust

abrdn Japan Investment Trust (AJIT) announced annual results for the year to 31 March 2023. The company’s net asset value total return for the period was -4.4%, in sterling terms, underperforming the TOPIX Index, the company’s benchmark, gain of 2.8%. The company’s share price ended the year at 13.9% with the discount to NAV per […]

06 Jun 2023

NewRiver REIT’s resilient retail focus paying off

NewRiver REIT’s new strategy focused on ‘resilient retail’, mainly retail park assets with essential goods and services retail tenants, is starting to pay off with the company reporting strong operational performance in annual results to 31 March 2023. The group posted a 26% increase in underlying funds from operations (UFFO) to £25.8m, with UFFO per […]

Sectors
06 Jun 2023

Warehouse REIT results reflect impact of market yield expansion

Warehouse REIT has reported a 29.5% drop in EPRA NTA to 122.6p per share in annual results to the end of March 2023, reflecting the outward movement in yields in line with the rise in interest rates. The group’s portfolio valuation fell 18.5% to £828.8m (2022: £1,012.0m) on a like-for-like basis following a 131 basis […]

Sectors
06 Jun 2023

QuotedData’s morning briefing 6 June 2023

Marwyn Value Investors (MVI) announced the appointment of Will Self to the company’s board as CEO, leading the development and execution of MVI’s overall company strategy. James Corsellis, CIO commented: “We are delighted to be working with Will in his new role as CEO, alongside Mark Hodges as chairman, as the company continues in the […]

Companies
05 Jun 2023
151207-psdl-e1689944649575

Phoenix Spree Deutschland proposes amendment to manager fees

Berlin residential landlord Phoenix Spree Deutschland (PSDL) has proposed a change to the fee structure for its property advisor, capping its annual fee at €5m. The company’s core rental business remains strong, but it had to suspend its dividend earlier this year as this was paid out of proceeds from condominium sales (which have been […]

Sectors
05 Jun 2023
Impact Healthcare REIT

Impact Healthcare REIT transfers leases of struggling tenant to new company set up by partner in investment manager

Impact Healthcare REIT (IHR) has transferred the leases of care homes let to Silverline Group, which has not paid its rent due for the first two quarters of this year, to an affiliate of an existing tenant of the company. IHR has transferred the leases of Silverline, which let seven homes and accounted for 3.4% […]

Sectors
05 Jun 2023
230124 morning

QuotedData’s morning briefing 5 June 2023

In QuotedData’s morning briefing for 5 June 2023: Digital 9 Infrastructure (DGI9) has announced a $100m green loan debt facility, and an update on the syndication of one of its invested companies. The $100m debt facility is being utilised by Verne Global Iceland, one of DGI9’s invested companies. Verne Global is a leading data centre […]

02 Jun 2023
Parliament,Square,,London,,England-,23,July,2022:,Just,Stop,Oil

QD view – Can we just stop oil? Contrasting the fortunes of two UK equity income trusts

The recent annual results from CT UK High Income (CHI) and Edinburgh Investment Trust (EDIN) have given us the interesting opportunity to compare the views of two managers targeting the UK equity income sector. Since the pandemic lows reached towards the end of 2020, the two funds have seen a wide divergence in performance with […]

Companies
02 Jun 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 2nd June 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • TR Property (0:32) • Aquila European Renewables (10:36) Andrew McHattie provided an update on NAV and price performance during May and highlights anomalies activity […]

Sectors
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