John Laing Environmental Assets has announced that its placing has raised gross proceeds of £35.19m through the issue of 36m ordinary shares at 97.75p per ordinary share. The company says that the net proceeds of the Placing will be used to repay amounts drawn down on the Company’s revolving credit facility. The company expects that […]
Chenavari Capital Solutions has announced that it has re-invested approximately £3.5m in a repeat transaction replacing an exposure that recently matured in its portfolio. The transaction is a first loss exposure to SME and corporate loans extended by a large Swiss bank. The company says that this loan portfolio is “very granular” with over 1,500 […]
Target Healthcare REIT has announced that it has acquired Summerfield House, a care home in Halifax, West Yorkshire, for approximately £7.2m including acquisition costs. It says that Summerfield House is a modern purpose-built facility, with 106 beds over three floors, which was opened in 2011. The company also says that the home is situated in […]
Standard Life European Private Equity Trust has announced its interim results for the six-months ended 31 March 2016. During the period, the trust has provided an NAV total return of 11.3%, whilst the NAV per ordinary share rose 10.2% to 310.2p (30 September 2015 – 281.6p). The company says that the increase in NAV included […]
Shires Income, managed by Ed Beal (pictured), has announced its annual results for the year ended 31 March 2016. During the year, the trust’s NAV fell by 7.0% on a total return basis, thereby underperforming its FTSE All-Share Index benchmark, which lost 3.9%. The company says that its NAV underperformance was due principally to stock […]
JPMorgan Indian Investment Trust has announced its interim results for the six-months ended 31 March 2016. During the period, the company provided an NAV total return of 2.2%, ahead of its MSCI India Index benchmark, which returned 1.8%. The share price total return was 0.6%, which reflects a widening of the discount over the six […]
K&C REIT has announced that it has completed the purchase of ‘The Osprey Management Company Limited’, from Ms Susan Hards, for an aggregate consideration valued at £1.6m. The company says that Osprey owns a portfolio of freehold interests in what it describes as, “a number of high quality retirement and residential properties in and around […]
The European Investment Trust has announced its interim results for the year ended 31 March 2016. During the period, the trust provided an NAV total return of 2.2%, thereby underperforming FTSE All-World Europe ex UK Index, which returned 6.9% in sterling total return terms. The managers say that, in their view, the underperformance reflects a […]
GCP Infrastructure Investments has announced its interim results for the half year ended 31 March 2016. During the period, the company advanced loans totalling £46.4msecured against UK renewable energy, social housing and PFI projects, with a further £11.5 million advanced post period end. The company also made a profit of £21.9m and has paid a […]
Custodian REIT has announced that it has acquired a 55k square foot, high bay distribution unit on Relay Park, Tamworth for £4.7m. The unit is let to Schenker Limited (trading as DB Schenker), a subsidiary of Deutsche Bahn, on a lease that expires on 27 September 2017. The unit is located at junction 10 of […]
Over the year to 31 March 2016, Biotech Growth Trust’s net asset value per share fell by 24.8% during the year, underperforming the Company’s benchmark, the NASDAQ Biotechnology Index, measured in sterling terms, which fell by 21.8%. The Company’s share price fell further, by 26.3%, as the discount of the Company’s share price to the […]
Electra Private Equity has provided what it describes as an “Interim update on the review of the Company’s investment strategy and policy and its structure”. Electra say that the review, which was announced in January, is on track for completion in the autumn. However, they say that a number of interim conclusions have been reached […]
Chenavari Capital Solutions has published interim accounts covering the six months to the end of March 2016. The NAV as at 31 March 2016 was GBP121.6 million with a NAV per Share of 93.31 pence. Total dividends during the period were 4 pence per Share, the NAV total return for the period was -1.17%. The shares were quoted […]
Alternative Asset Opportunities says its interim report for the six months to December 2015 referred in some detail to insurers applying increases to applicable premium rates. These are known as ‘cost of insurance’ (COI) increases. COI increases have historically been very rare and, although they can be implemented each year by the insurer, until September 2015 […]
Schroder Income Growth says that, during the six months ended 29 February 2016, the net asset value produced a negative total return of 1.4%, broadly comparable to that of the FTSE All-Share Index, which fell by 1.2% over the period. The company’s share price declined by 8.5% in total return terms during the period as the […]
Standard Life Equity Income says, in the six months to 31 March 2016 its diluted net asset value total return was 0.7%. This compares with the benchmark total return of 3.5%. The discount on SLET’s shares widened slightly from 0.4% six months ago to 1.6% at 31 March, producing a decline of 0.7% in the share price total […]
JPMorgan European Smaller Companies Trust, chaired by Carolan Dobson (pictured), has announced its final results for the year ended 31 March 2016. During the year, the trust produced a net asset value total return of +16.6%, compared with the benchmark total return of +7.2% over the same. The share price total return for the year was +19.7%, […]
The Edinburgh Investment Trust, managed by Mark Barnett (pictured), has announced its annual results for the year ended 31 March 2016. During the year, the trust produced an NAV total return +4.6% (with dent at market value) versus a negative return of 3.9% for the trust’s benchmark, the FTSE All-Share Index. The company’s share price total […]
UK Mortgages Limited and its manager, TwentyFour Asset Management LLP, have announced that Malt Hill No.1 Plc (a public securitisation backed by buy-to-let mortgages originated by Coventry Building Society Group) has successfully completed the public sale of £263.3mm of AAA-rated bonds. As previously announced, the securitisation is backed by buy-to-let mortgages originated by Coventry Building […]
Great Portland Estates has reported results for the year ended 31 March 2016. At the end of March its EPRA NAV per share was 847 pence (pre-SDLT increase: 857 pence), up 19.5% in the year. EPRA profit before tax for the year was GBP47.8 million, up 6.0% on 2015. this translates into EPRA earnings per […]
Over the year to the end of March 2016, NewRiver Retail delivered an 11% increase in its EPRA NAV (295p vs. 265p). EPRA adjusted profit increased 125% to GBP47.1 million (2015: GBP20.9 million) resulting in a 34% increase in EPRA adjusted earnings per share (26.6 pence vs. 19.8 pence). Profit before tax increased 76% to GBP69.5 million (2015: GBP39.5 […]
Shaftesbury reports that its EPRA NAV at the end of March 2016 was GBP8.93 per share, an increase of 24 pence (2.8%) over six months, after a reduction of 10 pence per share as a result of the increase in SDLT announced in the March 2016 Budget. EPRA earnings increased by 12.8% to GBP20.2 million (six months ended […]
Majedie has announced its interim results for the half year ended 31 March 2016. During the period the trust provided an NAV total return of 3.4% although, reflecting a widening of the discount during the period, share price total return was -0.7%. In comparison, the FTSE All-Share Index and MSCI World Index rose 3.5% and […]
Anglo Pacific Group PLC reported royalty income of £1.9 million in Q1 2016, down from £2.3 million in the previous year. However, the company expects the majority of its royalty income, similar to 2015, will be received in H2 2016. According to CEO, Julian Treger, “We continue to expect royalty income for 2016 as a […]
TR Property has announced results for the year ended 31 March 2016. The NAV rose 8.2% which was well ahead of the benchmark rise of 5.4%. However the share price total return was -1.6%. The Directors have announced a final dividend of 5.20p per share, a 9.5% increase over the prior year final dividend. This […]
MedicX Fund has announced its interim results for the six-months ended 31 March 2016. During the period, the company’s EPRA NAV has grown by 0.6% to 71.2p per share (30 September 2015: 70.8 pence per share) whilst its EPRA earnings were £6.8m, equivalent to 1.8p per share (31 March 2015: £7.0 million; equivalent to 2.0p […]
Tritax Big Box REIT has announced that it has exchanged contracts to acquire a National Distribution Centre, let to DSG Retail Ltd (part of the Dixons Carphone plc group), for £77.3m (excluding acquisition costs). The purchase, which is being funded from equity proceeds, reflects a net initial yield of 5.86%. Completion is expected to take […]
McKay Securities delivered 11% growth in its EPRA NAV over the year that ended on 31 March 2016. The EPRA diluted earnings per share rose from 5.22p to 7.76p. The Board is recommending a 1.7% increase in the final dividend to 6.1 pence per share (March 2015: 6.0 pence). This will be paid as an ordinary dividend on […]
