In QuotedData’s morning briefing 1 November: BioPharma Credit (BPCR) announced that it has made an additional investment in Insmed Incorporated following its initial loan made in October 2022. The company is investing US$60m in a new US$150m, with BioPharma-V investing US$90m. Together with the accrual and capitalization of the partial paid-in-kind interest, the company’s total […]
VH Global Sustainable Energy Opportunities has completed the construction and commissioning of two solar and storage hybrid systems in New South Wales, Australia. The assets comprise solar PV sites with DC-coupled two-hour 4.95MW battery energy storage systems . The trust already has two operational assets in Australia. Following the completion of these two sites, 67% […]
BioPharma Credit has made a new investment in a US$35m tranche of a US$200m senior secured loan to Alphatec Holdings, Inc. BioPharma Credit Investments V (Master) LP also took an additional US$35m tranche. The pre-existing loan was assigned to the BioPharma funds by Braidwell Transaction Holdings LLC – Series I, it will retain the remaining […]
Henderson International Income has reported results for the 12 months ended 31 August 2024. The NAV return for the year was 10.4%, and – as the discount widened from 8.1% to 11.7% – the share price return was 6.5%. This is well behind the return on the company’s MSCI ACWI (ex UK) High Dividend Yield […]
In QuotedData’s morning briefing 31 October 2024: Augmentum Fintech says nCino, a NASDAQ listed US digital banking platform, has agreed to acquire FullCircl. The deal implies a £6m valuation for Augmentum’s stake, which represents a 75% increase on the last published valuation of £3.4m as at 31 March 2024. Augmentum Fintech first acquired its interest […]
As the day progresses, we’ll aim to cover the main budget-related stories here. In QuotedData’s October 2024 budget day briefing: Some measures have already been announced (and the Government has been criticised for doing so before announcing them in the House of Commons): an increase in maximum single bus fares from £2 per journey to […]
Gabelli Merger Plus (GMP) announced its annual results for the 12 months to 30 June 2024. The company generated a NAV total return of 3.14% for the period while the share price total return was 5.4%, narrowing the discount to 10.4% The company also declared and paid three quarterly interim dividends totalling $0.48. Discussing the […]
In QuotedData’s morning briefing 30 October 2024: NBPE announced that the company will request the admission to and trading of the 2024 zero dividend preference shares be cancelled. The cancellation will follow the redemption of the 2024 zero dividend preference shares, with effect from 12:00 pm on 30 October 2024. As previously announced, the maturity […]
Ahead of tomorrow’s budget, here is the state of play as we understand it and some guesses as to what is in and out of the running You can access a pdf version of this note here Income tax Increases ruled out in manifesto (Labour will not increase taxes on working people) Thresholds unchanged, these […]
Baillie Gifford Japan’s results for the 12 months ended 31 August 2024 show it lagging its benchmark TOPIX Index by 4.7 percentage points – the benchmark return was 14.7%, the NAV return was 10.0%, the share price return was even worse at 4.4%. The dividend is being maintained at 10p. 5,515,000 shares or around 6% […]
In QuotedData’s morning briefing 29 October 2024: Murray Income Trust (MUT) has a new, £30m (extendable to £50m) unsecured, three year multi-currency revolving credit facility with The Royal Bank of Scotland which will expire on 22 October 2027. CHF363,000, USD2.4m, EUR4.05m, NOK4.275m and DKK2.75m (equivalent to £6.1m in aggregate) has already been drawn down and […]
Regional REIT has entered into a joint venture with leading pan-European solar panel developer, Sunbird Solar International, to install solar panels on a number of properties within the company’s portfolio. Phase one of the installation programme will encompass 19 properties with an aggregate portfolio generation capacity of 4,173 kW and is expected to be completed […]
The boards of Asia Dragon Trust and Invesco Asia have agreed heads of terms on a proposed combination of the two companies. The Asia Dragon board said it received interest from a large number of management groups during its strategic review but said that it believed Invesco Asia’s active core Asia (ex-Japan) investment strategy, alongside its […]
In QuotedData’s morning briefing 28 October 2024: VietNam Holding (VNH) announced that the final number of shares validly tendered for redemption for 2024 is 3,411,748 shares. This reduced number represents approximately 12.57% of shares in issue as at 31 August 2024. All shareholders who validly applied to have their shares redeemed will receive the redemption price […]
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: Hansa Trust (0:20) GCP Infrastructure (6:28) PRS REIT (9:06) This week’s interview was with Helen Steers from Pantheon International – watch it again here.
Next week’s budget will be vital viewing for investors, with changes to capital gains tax and inheritance tax mooted. Among the column inches in the lead up to the new chancellor’s first budget, have been some encouraging announcements on reforming the UK’s ailing health service. It appears that, at last, sensible ideas are being put […]
Cordiant Digital Infrastructure (CORD) has, in partnership with TINC NV (TINC) and another Cordiant-managed fund, agreed to acquire and combine Belgian data centre provider DCU Invest NV (Datacenter United, or DCU), and the data centre business of Proximus Group (the PDC Business). CORD and the other Cordiant-managed fund will acquire a 47.5% economic interest in […]
In QuotedData’s morning briefing 25 October 2024: As previously indicated, Alliance Witan (ALW) has increased its dividend following the combination of Alliance Trust and Witan Investment Trust to form Alliance Witan. ALW has declared a third interim dividend of 6.73p per share. The total of the first three interim dividends declared for 2024 is 19.97p […]
Marcus Phayre-Mudge, fund manager, TR Property Investment Trust: Tax changes, more demanding energy efficiency standards, and higher mortgage rates are piling the pressure on the UK’s landlords, with the buy-to-let market losing its lustre as an attractive wealth-building strategy. For aspirant real estate investors, listed property companies offer a strong alternative. These companies provide access […]
Oakley Capital Fund III has agreed to sell its majority stake in Schülerhilfe to Levine Leichtman Capital Partners. The completion of the transaction is subject to regulatory approval. Schülerhilfe is the leading provider of professional tutoring services to primary and secondary school students across Germany, Austria and Switzerland, with over 140,000 students across c.1,200 branches. […]
CQS Natural Resources Growth and Income has published results for the year ended 30 June 2024. It delivered an NAV total return in the year under review of 7.2%. This is similar to the return of 7.3% produced by the MSCI World Metals and Mining Index (sterling adjusted) but lagged the 17.4% return from the […]
VinaCapital Vietnam Opportunity has published results for the 12 months ended 30 June 2024. The NAV total return for the period was 7.8%, ahead of the 4.9% return posted by the VN Index. Dividends for the period total 14.25 cents. 8m shares were bought back at a weighted average discount of 20.5% and at a […]
Schroder Oriental Income says that over the 12 months ended 31 August 2024, it generated a NAV return of 18.2% and share price return of 15.3%, both well ahead of the return on its benchmark MSCI AC Pacific ex Japan Index in Sterling terms, which rose by just 8.6%. Over the financial year, the company […]
Schroder BSC Social Impact Trust’s results for the 12 month period ended 30 June 2024 show a modest 1.5% NAV return for the period, below the 2.8% per annum return achieved since launch in December 2020. The share price traded at a 16.7% discount to NAV at the period end, and as of 22 October […]
abrdn Asia Focus has published results covering the 12 month period ended 31 July 2024. Over that period, its NAV total return was 7.9% and share price return 8.8%, both well behind the 14.1% return posted by the MSCI AC Asia ex Japan Small cap Index. The trust’s annual dividend was upped very marginally from […]
GCP Infrastructure says that at close of business on 30 September 2024, its NAV was 105.22p, down 2.36p from the figure at end June 2024, which is disappointing. However, GCP says it won’t tell us what drove this move as “The company is in active due diligence and negotiations on disposals of material components of […]
In QuotedData’s morning briefing 24 October 2024: Alliance Witan’s investment manager, Willis Towers Watson has completed the transition of assets from Witan Investment Trust to Alliance Witan (ALW). Blackrock Inc. helped to manage the transition and keep the costs to a minimum. While Blackrock was completing the transition of assets, WTW took the opportunity to […]
PRS REIT has announced that it is undertaking a strategic review to consider the future of the company following shareholder pressure. The review will explore all the various strategic options available to the company, which may include a potential sale. This follows the requisition notice made by a number of shareholders to replace the chairman, […]
In QuotedData’s morning briefing on 23 October 2024: Home REIT (HOME) announced that it has sold a further 152 properties at auction for a total of £26.8m. Following the completion of these sales, it has sufficient proceeds to fully repay the outstanding Scottish Widows loan, which amounted to £72.0m as at 30 September 2024. It […]
Volta Finance (VTA) announced its annual results for the 12 months to 31 July 2024. The company saw a NAV total return of 19.7%, while the share price total return was 13.6% with the discount widening to 27.1% despite the strong results. The dividend was maintained in line with the board’s current policy of 8% […]
