Leaf Clean Energy has announced that, on 22 December 2015, it filed a complaint against its investee, Invenergy Wind LLC (“Invenergy”), in the Delaware Court of Chancery in Delaware, USA. The complaint seeks payment by Invenergy to Leaf Clean Energy of US$126.0m. Rather than cut and paste the text, we have attached a pdf of the […]
Renewable Energy Generation has announced that it has completed the sale of its assets and will delisting from the London Stock Exchange on 5 January 2016. The last day of dealing in the company’s ordinary shares, on AIM, will be 4 January 2016. No more WIND – Renewable Energy Generation to delist in January : […]
Schroder European Real Estate Investment Trust has announce that it has exchanged contracts to purchase freehold office property located in Boulogne-Billancourt (Paris) for €37.5m. The purchase is the company’s first since its launch (the company listed on the London Stock Exchange on 9 December 2015) and the purchase price represents a net initial yield of […]
Schroder Real Estate Investment Trust has announced that has exchanged unconditional contracts to sell Technology House in Fleet (pictured) for £2.2m. This is a marked premium (83%) to an independent valuation of the property as at 30 September 2015 of £1.2 million. The trust says that the buyer has paid a non-refundable deposit of £220,000 […]
Drum Income Plus REIT has announced that it has exchange of contracts to purchase Lakeside 5500 (pictured), a multi-let office development, in Cheadle, Manchester, for £5.475m. the company says that key tenants Micron Europe Limited and Agilent Technologies LDA UK Limited and that the purchase price reflects a yield of 7.82%. Drum Income Plus REIT […]
Hansteen has announced that it has acquired a further 31.6m units in the Ashtenne Industrial Fund for £15.4m in cash, reflecting a price of 0.4869 pence per unit. The price represents an effective 5% discount to Hansteen’s carrying value for the Fund as at 30 June 2015. This acquisition represents 5.3% of the units of […]
Hg Capital Trust has announced that its manager, Hg Capital, has made investments in Zitcom and ScanNet, two leading Danish hosting and cloud solutions providers. The terms of the transactions were not disclosed. Hg Capital Trust will invest in Zitcom and ScanNet, alongside other institutional clients of Hg Capital, who will participate through the Mercury […]
The board of Schroder Global Real Estate Securities has announced that a scheme for liquidating the company is to be put to shareholders for approval. They say that it is expected that the proposals will offer an opportunity for shareholders to retain their exposure to the same asset class through one or more open-ended vehicles […]
Hammerson has announced that it has exchanged contracts for the sale of two assets for a total of £87m. This includes its wholly owned shopping centre Monument Mall in Newcastle-upon-Tyne (pictured), which is being sold to Standard Life Investments UK Property Fund for gross proceeds of £75m. Monument Mall was acquired in 2011 for £28m and […]
Henderson Alternative Strategies Trust has announced its annual results for the year ended 30 September 2015. During the period, the Company delivered a NAV total return of -5.0% compared with a 0.8% rise in its FTSE World Total Return Index global equity benchmark. However, the board say that they are very encouraged to see that […]
JPMorgan Brazil reported a total return on net assets for the six month period ended 31 October 2015 of -33.9%, whereas the benchmark, the MSCI 10/40 Index (in sterling terms) recorded -35.6% for the same period. The manager’s report says the portfolio’s underweight in energy was a strong positive contributor, with the portfolio benefiting in particular from […]
Geiger Counter reported a 43% fall in its NAV over the year that ended on 30 September 2015 – in line with the fall in the URA Uranium Equity ETF. A large part of the fall in the ETF price though relates to a widening discount as, they say, the discount on the physically-backed uranium ETF, […]
Custodian REIT has announced that it has acquired the Phoenix Leisure Park, Crewe (pictured), which comprises four freehold units occupied by Pizza Hut, Mecca Bingo, Odeon Cinemas and MFA Bowl. The park, which is near Grand Junction Retail Park and within walking distance of the town centre and railway station, covers 55,713 sq ft. The […]
Randgold Resources has decided not to proceed with a proposed investment in a joint venture with AngloGold Ashanti to redevelop and operate AngloGold’s Obuasi gold mine, in Ghana. In terms of an agreement announced on 16 September, Randgold planned to undertake due diligence on the mine and the redevelopment plan that is the subject of […]
GLI Finance has announced this morning that, in light of feedback received as part of the marketing of the 2020 ZDP Shares to investors, the board has decided to cancel the Placing and Open Offer of 2020 ZDP Shares. Furthermore, the Board has decided that it will not be progressing with the issue of the […]
Following the sale of its property portfolio to Kildare Partners (announced in June 2015) Invesco Property Income has, as anticipated, delisted from the London Stock Exchange. The company is in wind-up and all of the proceeds from the sale were to be used to pay back the company’s lenders. Invesco Property Income Trust was a property […]
Trusts investing in peer-to-peer (P2P) lending have attracted £1.4 billion of assets since last spring, but the collapse of Europe’s only listed lending platform, TrustBuddy, has unnerved investors, allowing discounts to open up. http://view.ceros.com/citywire/nma-it-insider-december-2015/p/15
Alternative assets have dominated investment trust fundraising in 2015. A significant portion of the record net £3.9bn raised since the start of the year to 14 September was allocated to higher-yielding vehicles in areas including specialist debt and infrastructure, according to the AIC. www.investmentweek.co.uk/investment-week/analysis/2431475/five-of-the-best-alternative-trusts-with-attractive-entry-points
Chinese volatility in early August and the ‘Black Monday’ falls that followed may seem like big enough warning signals to avoid investing in Asia altogether. However, it is worth remembering that for most countries in the Asia (ex-Japan) region expected long-term growth remains attractive relative to more developed economies, and the region has much more […]
On 26 October 2015, Caledonia Investments announced that it had agreed to acquire Gala Bingo Holdings Limited, the UK’s largest retail bingo operator, from Gala Coral Group, in a transaction which valued the business at £241m. The acquisition was conditional on change of control approval by the Gambling Commission, which has now been granted, and […]
Following the news earlier this week that Armadale Capital has updated metallurgical work at its 80%-owned Mpokoto project in the DRC’s Katanga Province, the company has now raised £420,000 to advance the project through to the completion of a feasibility study by the end of the year. The company placed 14.0 million new shares at […]
GCP Infrastructure has announced results for the year ended 30 September 2015. They made a total return for the year of 9.5%. The NAV at 30 September 2015 was 107.47p. The dividend for the year was 7.6p. Earnings per share were 9.30 pence which is broadly in line with 2014. They raised an additional £140m in […]
BlackRock Frontier Markets managed to outperform its benchmark over the year to the end of September 2015, returning -12.2% on net assets against a -18.9% return on the MSCI Frontier Markets Index. Frontier Markets underperformed wider emerging markets as evidenced by a -13.6% return on the MSCI Emerging Markets Index. The return to shareholders was […]
The Board of BlackRock Commodities Income Investment Trust has set a target of an unchanged 6.00 pence per share dividend for the current financial year in light of current conditions in the commodity markets, volatility levels in the derivative markets and dividend prospects for the Company’s underlying investments. This target will be reviewed should there […]
Aberdeen New Dawn has announced interim figures for the six months ended 31 October 2015. Its benchmark, the MSCI AC Asia Pacific ex Japan Index, fell by 16.4%, while the net asset value fell by 17.0% (both on a total return basis). The share price declined by 16.7% (also on a total return basis), ending the period […]
The Board of Phaunos Timber Fund has announced the sale of three of the nine properties that comprise the Pradera Roja estate, in Uruguay, for USD 4.2 million. The sale is in line with the strategy announced earlier this year, of rebalancing the Company’s portfolio to one that has more mature, yield producing assets. The […]
Baker Steel Resources Trust’s Board has announced that, following consultation with a number of the Company’s largest Shareholders, it is seeking approval from Shareholders for an amendment to the Company’s investment policy. The amendment, if approved, will enable the Company to increase its existing investment in Polar Silver Resources Limited and/or any company within its […]
New City Energy say that during the year to 30 September 2015 its NAV, in total return terms, fell by 53.2% as the full extent of the price war in oil impacted the holdings in the Company’s portfolio. The share price fell by 58.7%, ending the year at a discount of 27.9%. Over the period […]
Schroder Asia Pacific says, during the year ended 30 September 2015, the Company’s net asset value produced a negative total return of 3.3%, again outperforming its benchmark, the MSCI All Countries Asia ex. Japan Index, which produced a negative total return of 6.0% over the same period. There will be a dividend of 4.2p. The […]
P2P Global Investments has announced that it has managed to arrange a £150m secured 3-year multicurrency loan facility with a consortium of institutional lenders. The Company intends to deploy the proceeds of this facility in accordance with its existing investment policy. The Company expects the modest level of gearing at the corporate level arising from the […]
