Starwood European Real Estate Finance has published its interim results covering the six month period to the end of June 2015. As at 30 June 2015, the Net Asset Value was 99.94 pence per Ordinary Share and the share price was 107.25 pence. The Board believes that competition to provide loans is increasing and Starwood […]
A quick summary of interim results for periods ended 30 June 2015 announced on 26 August 2015 APAX Global Alpha reported its first set of results since listing. Its NAV was up 8% over H1 2015 t0 €1.79. BH Global said at the six month stage on 30 June 2015 the Net Asset Value per […]
Minerals royalty company, Anglo Pacific Group, reported a loss after tax of £8.8 million (5.8p/share) for the six months to end June 2015, an improvement from the £23.0 million loss (20.8p/share) reported in the corresponding period of 2014. Results were impacted by writedowns on the valuation of its Kestrel coal royalty (£9.1 million on lower […]
BHP Billiton has posted profits for the year ended 30 June 2015 down 86% from the previous financial year to US$1.9 billion or US$0.36/share. Excluding exceptional items, attributable profit was US$7.1 billion, a reduction of 47%. Group revenue fell from US$56.8 billion to US$44.6 billion (from continuing operations) with iron ore the hardest hit sector, […]
NB Private Equity has announced interim results for the first half of 2015. It is reporting a 2.6% increase in Net Asset Value to $713.0 million (31 December 2014: $694.8 million). This was driven by unrealised gains on public and private equity holdings as well as cash and payment-in-kind (“PIK”) interest on its income investment portfolio. Of the $45.1m uplift […]
Fair Oaks Income Fund says the Fair Oaks Income Fund LP (the “Master Fund”) has entered into binding contracts to acquire, in the primary market, $28.0 million notional of equity notes, representing 73% of the total equity, and $8.6m notional of Class F notes of Shackleton 2015-VIII CLO, a new CLO backed by a portfolio […]
Industrial Multi Property Trust says its adjusted net asset value rose to 237p as at 30 June 2015 from 220p at 31 December 2014. The adjusted earnings per ordinary share worked out as a loss of 7.9 pence for the six months to 30 June 2015 (loss of 7.7 pence for the six months to 30 […]
CVC Credit Partners European Opportunities says its Euro and Sterling Ordinary shares have returned 4.8% and 5.0% respectively on a total return basis for the six months ended 30 June 2015. They have been managing the portfolio with the aim of paying an annual dividend yield of around 5%. A 2.5p / 2.5c semi-annual dividend was declared […]
South 32, the resources company spun out of BHP Billiton earlier this year, has reported its first annual results (on a pro-forma basis). In the financial year to end-June 2015, the company reported headline profit of US$28 million, down 56% from the previous year, leading to EPS of USc0.5, against USc1.2 previously. The results include […]
Bluefield Solar Fund is buying three solar assets: Bluefield EIS Solar Limited (“Solar EIS”), Bluefield Kite Limited (“Kite”) and Bluefield Peregrine Limited (“Peregrine”), which between them own and operate 28 solar photovoltaic (“PV”) plants (the “Plants”). The Plants, each built and commissioned prior to the end of Q1 2012, have over three years of operational […]
Baker Steel Resources Trust reports a 4% fall in its net asset value for the six months ended 30 June 2015, much better than the 10.9% fall reported for the Euromoney Global Mining 100 Index. The report says the fall in NAV can largely be attributed to a 11.8% fall in the share price of […]
Over the six months to the end of June 2015, Acencia Debt Strategies (which is now reporting its results in US dollars for the first time) saw total return on net asset value of 1.8% to US$1.73 (NAV was flat – return is down to dividends paid). Total Shareholder returns were up 0.1% per cent to a share […]
GCP Infrastructure has completed a transaction subscribing for a loan note to be used to fund biomass plants, with a term of 17 years and a value of up to £62.9m, £36.6m of which was advanced at completion and the remainder is expected to be drawn down over the next few months subject to various conditions. The Loan […]
NewRiver Retail is buying 158 pubs from Punch Taverns for £53.5m which equates to a net initial yield of 13.61%. The projected annual profit before tax of the portfolio is circa £6m, which will generate a cash on cash equity return in excess of 20%. The acquisition of the portfolio includes circa £0.5m of fixtures, […]
Avarae Global Coins reports results for the year ended 31 March 2015. Its NAV per share increased to 14.9 pence (2014: 14.5 pence). It made sales of £630,000. Profit on ordinary activities of increased more than 50% to £380,000 up from £250,000. The full year dividend is maintained at 0.15 pence per share. The carrying value of their […]
John Laing Infrastructure Fund Limited has entered into a five year£180m Revolving Credit Facility with Royal Bank of Scotland, HSBC , ING Bank and Commonwealth Bank of Australia. This facility replaces the existing £150m facility with RBS, Lloyds and ING, with no cancellation fees payable. The margin on the new facility is 1.75% over LIBOR making both the margin and associated commitment fees significantly lower […]
http://www.investorschronicle.co.uk/2015/08/13/funds-and-etfs/the-big-theme/retire-on-investment-trust-income-kn9TCSWO3A2NBDlt9wLMSL/article.html Over the past few years the number of investment trusts paying quarterly dividends has increased, with 118 out of more than 400 investment companies paying a quarterly dividend, according to a recent survey by QuotedData. Meanwhile, five investment trusts pay a monthly dividend, in contrast to only one 18 months ago.
3i Infrastructure is investing £23m to take a 50% stake in the West of Duddon Sands offshore transmission project. The vendors are Dong Energy and Scottish Power Renewables. The remaining equity in the project will be acquired by Macquarie Capital. The consortium was selected as preferred bidder following a competitive tender run by Ofgem in July 2014. The project […]
Tritax Big Box REIT’s results for the first half of 2015 show a 14.8% uplift in its EPRA NAV, a 13.9% improvement in is EPRA earnings per share (to 2.3p) and a 62% hike in the interim dividend from 1.85p to 3p as they progress towards paying their target 6p per annum. The fund expanded […]
Hg Capital delivered a 3.8% return on net assets for the six months ended 30 June 2015 and the return to shareholders for the period was 7.2%. By comparison, the return on the FTSE All-Share Index for the period was 3.0%. The valuation uplift was driven by a combination of growth within the businesses of […]
Gold showed further strength overnight and this morning, advancing to US$1,168/oz in the spot market before settling back to fix in London at US$1,149/oz, the highest price in over a month. The price has risen over 6% since it fixed at US$1,080/oz on 31 July, the lowest level for five years. According to Bloomberg, the […]
Empiric Student Property has exchanged contracts to acquire on practical completion the freehold on a site to be developed into a high quality turnkey student accommodation scheme on James Street West, in Bath, for a total investment of £25m (excluding acquisition costs). The property is currently owned and is being developed by James House Limited […]
KAZ Minerals has reported EBITDA of US$88 million for H1 2015, 55% down from the corresponding period of 2014. However, the company recorded a net loss of US$0.03/share against a net loss of US$0.31/share in HI 2014 (from continuing operations). Earnings in 2014 were impacted by a US$181 million loss from devaluation of the Tenge […]
UK Commercial Property Trust has reported a 5.2% total return on net assets for the first half of 2015 and a share price return of 5.4% as the shares moved from a 6.3% to a 6.7% premium. The return was behind their MSCI benchmark (MSCI Balanced Monthly & Quarterly Funds, formerly known as the IPD […]
Phaunos Timber reports on progress within the underlying portfolio for the first six months of 2015 but a fall in NAV on the back of the strengthening of the US dollar. At a timber operating level the Group showed a profit for the first time. This amounted to $1.7m for the period (30 Jun 2014: […]
Vietnam Holding has published results for the year ended 30 June 2015. It had a very good year with the NAV rising by 9.0% to $2.093 and a share price increase of 23.3% to $1.803. The Vietnam All Share Index increased by just 1.4%. as you can see from the numbers, the discount narrowed considerably over the […]
JPMorgan US Smaller Companies reports a rise of 4.6% in the Company’s net asset value for the first six months of 2015, which compares with a rise of 3.8% in the Russell 2000 Index. The Company’s share price rose 2.0% during the first six months of 2015, lagging the increase in NAV and resulting in a […]
Glencore’s H1 adjusted EBITDA was down 29% from H1 2014, to US$4.6 billion, leading to net income of US$882 million, a fall of 56% from the previous year. On a per share basis, net income was US$0.07 against US$0.15 previously. The decrease in profitability was largely down to the performance of the company’s Industrial sectors, […]
For the first half of 2015 Juridica reports that its net asset value decreased from US$1.66 (107 pence per share) as at 31 December 2014 to US$1.35 (86 pence per share) at 30 June 2015. This decrease in NAV per ordinary share was primarily attributable to the total comprehensive loss of US$34.2m generated during the six-month period ending 30 June 2015. […]
BlackRock Latin American reports a -9.6% return on net assets for the first six months of 2015 and a -11.5% return to ordinary shareholders. This represents underperformance of the fund’s benchmark, the MSCI EM Latin America Index which ended the period down by 7.0%. The interim dividend is being maintained at 15 cents per share (NB […]
