Geiger Counter has published its interims – over the six months to the end of March 2014 its net asset value rose from 31.29p to 32.81p and the ordinary share price rose from 24.75p to 30.88p. Gains from holdings in Denison Mines, Fission Uranium and Cameco were offset by a fall in the value of UEC. […]
F&C Global Smaller Companies has published its results covering the year that ended 30 April 2014. On a net asset value basis returns were broadly in line with the benchmark – 12.3% generated by the portfolio, rising to 12.6%, calculating the effect of marking the company’s debt to fair value, and a 12.4% return on […]
Invesco Income Growth has published its results covering the year that ended on 31 March 2014. Over the period the fund generated a total return of 14.2% on net assets – ahead of the 8.8% return generated by the FTSE All-Share Index. The discount narrowed and so the return to shareholders was 16.7%. The dividend […]
Tamar European Industrial Fund announced on 16 June that Lux Starlight, a newly incorporated Luxembourg private limited liability company, and TEIF have agreed on the terms of a recommended cash offer to be made by Lux Starlight for the entire issued and to be issued ordinary share capital of TEIF. The offer is 38.25p in cash, valuing the total […]
Origo Partners has today released its results for the year ended 31 December 2013. The net asset value back then was $0.39 (down 20% from $0.49 at the end of 2012). The main reason for the fall was a 50% write down in the value they put on their holding in Gobi Coal & Energy. […]
Custodian REIT has made its third acquisition, buying a 49,919 sq ft distribution warehouse near Biggleswade let to Turpin Distribution Services on a lease that expires in 2019. The price of £3.785m equates to an initial yield of 7.5%.
Picton Property Income has published results for the year that ended on 31 March 2014. Over the year its net asset value rose from 49p to 56p. Dividends paid fell from 3.5p to 3.0p. The total return on net asset for the year was 21.6% but the total return to shareholders was 50.2% as the company’s […]
Standard Life Investments Property Income was on the other side of three of the four deals that New River Retail announced yesterday. SLI sold Halfords in Paiseley, Poundstretcher in Wymondham and Clough Road Retail Park for £11.89m. The aim of the deal from SLI’s point of view was to reduce its exposure to upcoming tenant lease […]
GCP Sovereign Infrastructure has released a statement to update shareholders on the difficulty of investing its IPO proceeds. They say that “Whilst the Company has reached substantive agreement with Borrowers in relation to transactions in a total size of c$100m, the due diligence process has highlighted risks which GCP believes would take such transactions outside […]
India Capital Growth has been thinking about its future and has decided to call an EGM where it will propose 1) that shareholders are issued with subscription shares and 2) that the dates of the company’s forthcoming continuation votes are changed. The subscription shares would, if issued, be exercisable at asset value two years after being […]
Tau Capital has cut the value of Stopharm again and will now vale this investment at $8m. Tau Capital say the devaluation of the Tenge in February made Stopharm’s imports of pharmaceuticals (most of which are priced in euros or US dollars) more expensive without automatically allowing it to raise prices in Tenge as sales prices […]
Spark Ventures has drawn investors’ attention to the announcement from IMIMobile, Spark’s largest investment, that it intends to float on the AIM market. Spark Ventures say they will hang onto some of their investment in the company. At the moment they own 27% of IMIMobile and value it at £14.8m.
ARC Capital Holdings has published its final results for the year that ended on 31 December 2013. While these numbers are very out of date now, they do say that the NAV fell from $0.92 to $0.83 over the year. It made two sales in the year – of Goodbaby and Shaanxi Dade Eucation Development […]
Assura Group has announced that it is buying 28 medical centres at a total cost of £107m – paid as £10m in cash, the assumption of £77.7m of debt and by the issuance of 44.3m new shares in Assura to the vendors, a company controlled by Ray Seymour and Alistair Blacklaws, founders of MP Realty Holdings. The […]
GLI Finance has announced that, following a successful placing and offer for subscription by Fair Oaks Income Fund, GLI has exchanged its holdings in its two remaining CLO investments for $20.4m in cash and 34,298,425 shares in Fair Oaks Income Fund (issued at $1). The total value of the CLO investments at 3 June (the […]
Real Estate Credit Investments has published its results for the year that ended 31 March 2014. Over the year its net asset value rose from £1.50 to £1.54. The £50m it raised in November 2013 was successfully deployed into or committed to a number of loans. The dividend for the year is 2.7p – matching […]
TwentyFour Income Fund released its results on 10 June. These cover the period from 11 January 2013 to 31 March 2014. The company was admitted to trading on 6 March 2013 raising £150m – expanded through subsequent issuance to £267m. The net asset value at the end of the period was 117.66p and the share […]
Results for European Residual Income Investments have been released alongside those of Real Estate Credit Investments. Over the year to the end of March 2014, ERII received a cash inflow of €3.1m. At the end of the period ERII had sufficient assets for the Directors to recommend a further dividend and they have declared a […]
Unitech Corporate Parks has received a cash offer for Candor Investments – the holding company for its property interests – that values the subsidiary at £205.9m – freeing up enough cash to make a return to shareholders equivalent to 56p per share. Shareholders will have to approve the transaction but the Board is pointing out […]
Tritax Big Box REIT is buying the Next Group distribution warehouse in West Moor Park, Doncaster for £60m – this equates to a net initial yield of 6.07%. Barclays Bank is providing a £16.4m facility , secured against the warehouse (a loan to value of 27%). Tritax Big Box REIT’s finance, post this loan, will […]
New River Retail has bought four retail parks for £17.3m. The purchase price is equivalent to an initial yield of 9.1%. Overall the portfolio adds up to 196,300 sq ft of lettable space which is fully let to six tenants with an average unexpired lease length over 7 years. New River Retail says it has bought […]
Monks Investment Trust has published its results for the year that ended 30 April 2014. Over the year the fund delivered a total return on net assets of 5.2% which compares to a return on the fund’s benchmark index, the FTSE World Index, of 6.8%. The return to shareholders 5.4%. Dividends for the year were unchanged […]
The Establishment Investment Trust has published its results for the year that ended 31 March 2014. Over that period its net asset value fell by 20.4% and its share price fell by 17.4%. By comparison, the MSCI All World Index rose by 6.2% and the MSCI AC Asia ex Japan Index fell by 6.4% over […]
Masawara has published its final results for the year that ended 31 December 2013. Shareholders’ equity fell by $9.6m to $72.6m. The managers say that the company has been adversely affected by a slowdown n the Zimbabwean economy. TA Holdings, 41% held by Masawara, wrote down the value of their investment in Sable Chemical Industries by $13.7m […]
ARC Capital Holdings has been award RMB90m plus interest and arbitration fees by the China International Economic and Trade Arbitration Commission in respect of ARC Capital’s sale of Jiadeli Supermarkets. The sale concluded in October 2010 but the buyer, HNA Group, and ARC Capital were unable to agree on the amount of a “holdback” related to […]
Kennedy Wilson Europe Real Estate is paying €296m for a portfolio of 21 assets including nine office , two mixed, five car showrooms, three leisure, one retail and one warehouse – they bought the loans secured against this portfolio earlier in the year. The Portfolio currently delivers gross rental income of £25m per annum but 10% of […]
BBGI has bought the M1 Westlink road project in Belfast. Completed in November 2009, the 60km motorway and short dual carriageway section in the heart of Belfast generates revenues based on the availability of the asset rather than the volume of traffic using it. The concession expires in 2036.
Sadly, Acorn Income Fund has announced that John McClure, co-manager of the fund, has died. John was involved with the management of the fund from its inception and although Unicorn Asset Management say Simon Moon and Fraser Mackersie, the other co-managers of the Company’s smaller companies portfolio who have worked with John since 2008 will […]
Worldwide Healthcare has published its results for the year that ended 31 March 2014. Over the period the fund’s net asset value generated a total return of 25.9%. The fund’s rating improved, driving the total return to shareholders for the period up to 30.8%. The MSCI World Healthcare Index delivered a return of 14.9% over […]
Fidelity China Special Situations released its annual results on 6 June. These showed that over the year to the end of March 2014, the fund’s net asset value rose by 19.5% and its share price rose by 14.1%- in marked contrast to the fund’s benchmark, the MSCI China, which fell by 6.9%. The dividend increased from […]
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