Witan Pacific has published its results for the year ended 31 January 2014. The net asset value total return for the year was a fall of 6.5% – this compares to a positive 0.2% return from the company’s benchmark. The discount narrowed a little and so the return to shareholders was -5.2%. Gillian Nott, the […]
Mid Wynd has announced that as Michael MacPhee, who is the company’s existing investment manager, is retiring, they have decided to move Mid Wynd’s management contract from Baillie Gifford to Artemis. The new management team will comprise Simon Edelsten, Alex Illingworth and Rosanna Burcheri who are, collectively, Artemis’s Global Select team. They focus on “a […]
Back in 2012, F&C Commercial Property entered into a forward agreement to buy four pre-let office buildings in Aberdeen – once construction had finished. Two blocks were ready in March and F&C Commercial Property has just announced that it completed on the other two on 17 April. The total cost of the 300,000 sq. ft. […]
Investors In Global Real Estate has decided to appoint a new manager to replace CBRE Clarion Securities LLP – the new manager is expected to take up their duties in July 2014. In the meantime Investors in Global Real Estate has decided to suspend its discount control mechanism.
Gresham House’s net asset value fell from 445.1p to 378.5p over the year ended 31 December 2013. most of the fall can be accounted for by write-downs in the valuation of the company’s investment properties and the fall in value of one of its equity investments – Memorial Holdings (a cemetery company which lost its […]
The Cayenne Trust has posted its figures for the year ended 31 January 2014. The Cayenne Trust generated a net asset value total return of 13.6% for the year – 3.6% more than the return on the FTSE Equity Investments Instruments Index.
Carador has announced results for the year ended 31 December 2013. Over the year it generated a NAV return of 3.99% as an NAV fall of 7.75% was offset by dividend payments totalling 13.1 cents. The target dividend for 2014 is 10 cents (to be paid in quarterly chunks of 2.5 cents)
British Land has sold two retail parks – The 250,000 sq ft St James Retail Park in Dumbarton (sold to Legal & General for £45.75m) and the 136,000 sq ft Cwmbran Retail Park (sold to UBS for £32.3m). The net initial yields on these transactions were 5.9% and 6.4% respectively. British Land said they are […]
ICG Longbow has released its first set of results, for the period ended 31 January 2014. At that stage the company had made eight investments, was 85% invested and the NAV per share was 98.79p. The earnings for the period were 1.29p per share – lower than anticipated at the time of the IPO – this […]
Hg Capital has bought a stake in Visma (a software and business process outsourcing company centred on the Nordic region) – acquiring a 31% stake for £405m. £40m of this will come from the Hg Capital Trust and the rest from Hg’s limited partnership vehicle, Hg Capital VII. The net effect of the transaction will be that […]
Candover has sold Innovia (a manufacturer of films for packaging and the substrate for polymer banknotes – they are working on the new £5 and £10 notes) for €498m. this was the last asset in Candover’s 2001 fund. Candover Investments (the fund) will get €12.8m of proceeds and €7.6m of carried interest from the transaction. […]
Utilico Emerging Markets has consulted shareholders and decided not to proceed with its plan to issue long term debt and hold a continuation vote. It has instead extended a £50m bank borrowing facility it has with Scotiabank until April 2016.
Foresight Solar Fund has announced that its 16MW Pitworthy plant is now connected to the grid and operational. Also RWE Supply and Trading will finance construction of Foresight Solar Fund’s 37MW Kencot plant and Foresight no longer plans to buy a plant in Deptford that was highlighted as a potential acquisition in the fund’s prospectus. […]
Hansa Trust (which has two classes of shares – voting shares HAN and non-voting shares HANA) has announced that it is broadening its investment approach. Where, to date, it has mostly invested in UK equities and also has a stake in holding company, Ocean Wilsons, it will now also invest in other asset classes – […]
ICG Longbow has made its tenth loan – £8m to Quay Hotels, secured against the Ramada Encore Hotel in Gateshead. With the deal concluded ICG Longbow would have invested slightly more than all the proceeds of its original issue. It has today issued 3.6m shares at 102p per share to cover the shortfall. Following the […]
Standard Life Investment Property Income has announced its results for the year ended 31 December 2013. Over the year the fund generated a net asset value total return of 25.2%. The share price increased by 20.2%, equivalent to a total return of 29.2%. The dividend was unchanged on the previous year but the yield at the end […]
3i has announced that one of its larger holdings, animal health and nutrition specialist Phibro, has IPO’d in the US. 3i gets £67.6m in cash and still has a £25m stake in the business. Overall the deal adds £21.8m to 3i’s net asset value.
F&C Commercial Property Trust, managed by Richard Kirby, has announced results for the year ended 31 December 2013 that show the fund delivering a net asset value total return of 13.0% for the year – better than the 10.9% return generated by the IPD Quarterly Universe. The company has a sizeable cash pile to deploy which, […]
Utilico Emerging Markets is considering putting long-term finance in place with the aim of securing fixed rate funding at an attractive rate. Before it does so it wants to make sure that shareholders are happy with the idea and therefore is proposing to hold a continuation vote now and get shareholders to agree that the […]
El Oro has published its interim results for the six months ended 31 December 2013. The net asset value at the end of the period was 95.0p up from 92.0p at the end of June 2013.
John Laing Environmental has announced that it has completed on its deals to acquire Amber Solar, Castle Pill & Ferndale Wind and Bilsthorpe Wind projects from the John Laing Group. They already tied up the acquisitions of the Dumfries & Galloway Waste, Hall Farm Wind and Tay Wastewater Projects and so John Laing Environmental has now […]
Henderson Far East Income, managed by Michael Kerley (pictured), underperformed its benchmark by a little over the six months to the end of February 2014; its net asset value total return was -2.6% vs. -0.8% for the FTSE All World Asia Pacific ex Japan Index. The first two quarterly dividends have been maintained at 4.4p per […]
Invesco Perpetual UK Smaller Companies has released its annual results for the year ended 31 January 2014. Over that period Invesco Perpetual UK Smaller Companies achieved a net asset value total return of 31.4% – marginally behind that of the benchmark (the Numis Smaller Companies ex Investment Companies Index returned 31.8%). The discount widened slightly from 13.7% to […]
Dexion Trading has announced that today’s EGM approved the winding up of the company and liquidators have been appointed. The Directors were persuaded to go down this route after a recent tender offer was significantly oversubscribed.
Summit Germany has announced two deals. For the largest of these they are paying €45.5m to acquire a loan facility with a face value of €74m secured against 11 properties that Summit Germany used to own. Effectively Summit will now control these properties. The portfolio consists of nine office buildings and two retail properties with a total lettable area […]
Picton Property has announced that it is buying a 335,000 square feet distribution warehouse in Grantham, Lincolnshire for £11.48m. The property produces a rent of c£3 per square foot (£1m per annum) and it is secured against The Random House Group (the publisher).
Duet Real Estate Finance has announced results for the year ended 31 December 2013. The net asset value fell from 98.5p to 93.5p but Duet real Estate finance paid dividends totalling 10p for the year so the total return on the net asset value was 5.1%. The share price fell from 90.5p to 86.5p and […]
Martin Currie Global Portfolio underperformed its benchmark over the year to the end of January 2014 as the net asset value total return was 8.1% and the FTSE World Index return was 10.5%. The discount narrowed however so the share price total return was 9.8%. Dividends, now paid quarterly, totalled 4p for the year, 2.6% […]
Aberdeen Latin American Income has published its interim results for the six months ended 28 February 2014. Its net asset value fell by 9.1% in total return terms, underperforming its benchmark which fell by 7.2%. (The benchmark is a composite of the MSCI Emerging Markets Latin American 10/40 Index and the JP Morgan Global Bond Index – […]
Henderson Global Trust, now managed by Wouter Volckaert (pictured), underperformed its benchmark over the year to the end of January 2014. The net asset value total return was 4.7% while the total return on the benchmark was 9.2%. The discount widened from 3.8% to 9.4% and the effect of this was that the share price fell by […]
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