News

IPU : Invesco Perpetual UK Smaller outperforms Invesco Perpetual UK Smaller Companies interim results for the six months ended 31 July 2014 show the fund outperforming the Numis Smaller Companies ex Investment Companies Index over the period – it generated a total return on net assets of -1.6% vs. -2.9% for the index. The Chairman […]

SREI : Schroder Real Estate sells last of Wembley site Schroder Real Estate has sold the last part of its site in Wembley with the disposal of the Olympic Office Centre for £15.4m. The sale price is £4.65m higher than the valuation attributed to the site at the end of June 2014 and equates to […]

RSE : Riverstone investment Eagle Energy buys into Mississippi Lime Riverstone Energy has announced that Eagle Energy Exploration LLC (known as Eagle II) has invested $195m to acquire 20,000 acres in Alfalfa, Grant and Woods counties in Oklahoma. These properties are currently producing hydrocarbons from the Mississippi Lime geological formation. The founders of Eagle Energy, […]

CCSL : Chenavari makes fourth investment Chenavari Capital Solutions has invested £4m in a new investment. The investment effectively takes the first loss incurred by a book of leveraged loans financed by an unnamed bank. The underlying borrowers are primarily European and UK corporates with credit ratings higher than B-. No more than 2.5% of the […]

TLI : Improved cash flow for Alternative Assets Alternative Assets Opportunities – the cell company with one cell – US traded life interests – has announced results for the year ended 30 June 2014. The net asset value at the end of June was 44.7p – down from 48.5p the year before. US dollar weakness […]

AFMF : Advance Frontier Markets underperforms MSCI Index Advance Frontier Markets saw its net asset value rise by 22.4% and its share price by 27.9% over the year to the end of June 2014. The MSCI Frontier Markets Index posted a gain of 36.2% over the same period. The manager’s report says that good performance […]

LEF : Ludgate Environmental NAV falls Ludgate Environmental’s net asset value fell from 84.2p to 66.5p over the course of the year that ended on 30 June 2014. The company made a distribution of 5p per share in December 2013 which accounts for part of this. The fund’s holding in Terra Nova was written off […]

GPOR : Great Portland says its Rathbone Square flats selling fast Great Portland Estates has sold 125 of the available 142 apartments it is building at Rathbone Square W1 (the former post office sorting depot). The 125 flats sold to date have raised £207.2m for the company. The average selling price equates to £1856 per […]

JLIF : John Laing raising cash to fund three acquisitions John Laing Infrastructure is raising up to £50m via a tap issue of stock. The money will be used to fund three acquisitions it announced today. They are spending £39m on a 50% stake in the South East London Police Stations project (four South East […]

ELTA : Sherborne silent on need for change at Electra Electra has published the circular convening the meeting requested by Sherborne at which it seeks to remove one of Electra’s existing directors and appoint two of its own. It then hopes to lead a strategic review of the company. Incredibly, Sherborne are asking shareholders to […]

PHI : Pacific Horizon growth bias pays off Pacific Horizon results for the year ended 31 July 2014 were good. The net asset value return was 10.4%, comfortably ahead of the MSCI AC Asia ex Japan Index which returned 4% in Sterling terms. Shareholders did even better as the trust’s discount narrowed, leaving them with […]

MUT : Murray Income’s rating declines Over the year to 30 June 2014 Murray Income generated a total return on net assets of 14.0%, ahead of the return on its benchmark which was 13.1%. The share price lagged the net asset value however and so the return to shareholders was 9.4%. The dividend for the […]

SREI : Schroder Real Estate sells site to Barratt Developments Schroder Real Estate has sold a non income producing site in Wembley to Barratt Developments for £15.25m. Completion is set for 23 September. Schroder Real Estate says the deal will add 3.5% to its net asset value at 30 June 2014. The site has planning […]

MWY : Mid Wynd substantially restructured under Artemis Mid Wynd results for the period ended 20 June 2014 were announced on 9 September 2014. These showed the fund generating a total return on net assets of 11.7%, ahead of the 10% return on the FTSE World Index. The shares moved to trade on a small […]

PCTN : Picton spends last of cash in Peterborough Picton Property is acquiring two retail units in Peterborough, Cambridgeshire for £9.075m. The adjacent properties are on Bridge Street, a pedestrianised shopping street, have 89,000 sq ft of space and are let to TK Maxx and New Look. The rent is just over £7 p sq […]

CRS : Good year for Crystal Amber Crystal Amber’s full year results for the period ended 30 June 2014 show its net asset value climbing by 20.8% to 160.8p. The total return for the year was 21.3% – ahead of the FTSE 250 (16.8%) and the FTSE Small Cap. (19.1%). The report cites positive contributions […]

MPO : Macau Property Opportunities frees up $33m of cash Macau Property Opportunities has refinanced some of its properties – debt facilities linked to One Central Residences and the Green House in Macao have been extended or renegotiated. the net effect is to free up $33m of cash giving MPO $55m of cash for future opportunities.

BSIF : Bluefield Solar wants to expand onto commercial and industrial rooftops Bluefield Solar Income has published its first Annual Report. This covers the period from the incorporation of the company in May 2013 and the listing of the fund in July 2013 through to the end of June 2014. Over the period the fund […]

SDU : Schroder UK Growth loses manager Schroder UK Growth has announced that Julie Dean is leaving Schroders. The Board has held discussions with Schroders and has resolved that Schroders’ Business Cycle Investment team should continue to run the fund for the moment. However the Board has also said that it “will consult with its […]

ELTA : Electra buys ten pin bowling company Electra is buying The Original Bowling Company – the UK’s largest ten pin bowling operator – for £91m. Electra Private Equity is committing £51m to this. The Original Bowling Company has 43 centres – 29 operating as Hollywood Bowl and 14 as AMF. The announcement says that […]

JEO : Jupiter European lags benchmark Jupiter European Opportunities Trust has published its results for the year ended 31 May 2014. Over that period the net asset value rose by 11.8% vs. 13.4% for the FTSE World Europe ex UK Index. The company’s share price rose by 12.2%. The fund is paying a maintained dividend […]

BHUE : BlackRock Hedge Selector considering its future BlackRock Hedge Selector has released a statement this morning that says “Given the current market capitalisation of the Company and prevailing share price discount, the Board of BlackRock Hedge Selector Ltd announce that they will be undertaking a shareholder consultation in relation to the current investment objective […]

JSS : Jupiter Second Split rollover proposals published Jupiter Second Split Trust is coming to the end of its life. The Board, chaired by Lord Lamont (pictured), have published proposals today that, if approved by shareholders, will allow for a rollover into Jupiter Strategic Reserve Fund – an open-ended fund managed by Miles Geldard, Jupiter Second […]

WKOF : Weiss Korea considering share buy-back in closed periods Weiss Korea Opportunity Fund has published its interim figures covering the first six months of 2014. Over that time its net asset value increased from 106.98p to 131.83p and since then the NAV has appreciated further to 147.65p on 4 September. They also paid their […]

THRL : Target Healthcare buys Hastings care home Target Healthcare REIT is paying £8m to acquire an 80 bed care home in Hastings, East Sussex. The deal is planned for November 204 when the project will be complete. Target Healthcare REIT is buying the property in a 35 year sale and leaseback deal from Hastings […]

BUR : Burford Capital pays first interim dividend Burford Capital is declaring its first interim dividend (1.74 cents, payable in December). The net asset value was more or less flat over the first half of 2014. The Board seem quite enthused with the fund’s progress however as pre-tax, pre-exceptional profit rose by 89% compared to […]

IVPU IVPG : Invesco Perpetual Select Trust cuts fees The Board of Invesco Perpetual UK Select Trust, chaired by Patrick Gifford (pictured), has announced amendments to its management agreement with Invesco. The annual management fees on the UK Equity and Global portfolios are falling from 0.75% to 0.65% per annum. Also the maximum performance fee payable in […]

SPDI : Secure Property Development adds to its Romanian exposure Secure Property Development & Investment has announced that it is buying a 12,700 sqm residential portfolio in Bucharest, Romania. The portfolio contains 122 apartments split across four separate complexes in Bucharest. 87 of the 122 apartments are let and these produce net operating income of […]