Foresight Sustainable Forestrymade three acquisitions during March 2023. The company deployed a further £9.9m into three properties in Scotland: Newnoth Farm: This asset has strong afforestation potential and is directly adjacent to Newnoth Forest, an existing mature forestry property within the portfolio. Together, these properties create a combined area of circa 234 hectares. Balnagowan: Neighbouring […]
International Public Partnerships has published results for 2022. The highlights are: A total NAV return of c.12.5% for the year to 31 December 2022. NAV per share increase of 7.3% to 159.1p from 148.2p driven by, among other factors, the positive impact of the portfolio’s inflation-linkage. Full-year dividend growth of about 2.5% to 7.74p supported […]
BBGI Global Infrastructure has published results for the year ended 31 December 2022. Over that period the fund generated an NAV return of 9.1%. [Bizarrely, in what is otherwise a lengthy and detailed report, the statement makes no mention of BBGI’s share price, which we can tell you fell from 175.6p to 156.6p over the […]
In QuotedData’s morning briefing 30 March 2023: RTW Venture Fund (RTW) was part of a consortium of funds managed by the same manager that participated in a $125m funding for Milestone Pharmaceuticals. Milestone is a publicly traded biopharmaceutical company, which is shepherding etripamil, its lead investigational product, through Phase 3 clinical trials for paroxysmal supraventricular […]
The directors of HydrogenOne, the first London-listed fund investing in clean hydrogen for a positive environmental impact, continue to monitor wider market events including the current share price volatility in the market price of its shares. The board is not aware of company-specific factors that have led to the recent decline in the share price. […]
Global Opportunities Trust sees solid returns through 2022. Company NAV grew 15.8% for the year ended 31 December while shares grew 7.9%, a solid return given the volatility in global markets. The positive returns appear to have narrowed the company’s discount which now sits at around 12%. This also marked the first full year for […]
Menhaden Resource Efficiency announced its results for the year ended 2022. The numbers do not make for great reading with NAV down 16.5% while shares fell 20.3%, offsetting their solid performance from the previous year. The discount fell steadily throughout the year, falling as low as 36% at one point. It has improved slightly from […]
BH Macro Limited released impressive numbers for the year-end December 2022. The price of the sterling class shares rose by 20.05% and the US dollar class shares by 12.72%, whilst the NAV per share rose by 21.91% for the sterling class shares and 21.17% for the US dollar class shares. While the company doesn’t list […]
Fidelity Japan Trust (FJV) closed out a tough year, announcing results for the period ending December 2022. The company NAV fell by 24.3%, well behind the TOPIX benchmark which was down just 4.1%. Shares fell in sympathy, down 28.1%. Despite the share price volatility, the discount has remained relatively stable at around 10% over the […]
CVC Income & Growth Limited (CVCG) announced annual results for the year ended December 2022. The company saw solid NAV growth of 6.75%, following on from last year’s 12.2% while also increasing its dividend from 4.6 to 5.7%. Despite this, shares fell around 7%. The company does not provide a benchmark in the annual report, […]
Phoenix Spree Deutschland has suspended its dividend and has not paid a final dividend for the year to 31 December 2022 as the residential sales market in Berlin dries up following the hike in interest rates. As per its business model, cash to pay dividends is substantially dependent on condominium and/or other asset sales. Just […]
Octopus Renewables Infrastructure Trust (ORIT) announced its results for the year ended 31 December 2022. The company saw solid growth for the second year running with NAV up 12.3% after returning 9.3% the year prior, with NAV up 25.9% since the IPO in December 2019. The performance of its shares has been less impressive, however, […]
European Assets Trust (EAT) announced its results for the year ended 31 December 2022. NAV return was 28.2% for the year ended 31 December 2022. This compares to -17.7% for the benchmark, EMIX Smaller European Companies (ex UK) Index. Shares fell 28.4% in sterling terms over the same period. The company also announced a reduced […]
The board of Brown Advisory US Smaller Companies (BASC) announced the appointment of Jane Routledge as an independent non-executive director with effect from 1 April 2023. Jane is currently a non-executive director at M&G Credit Income Investment Trust plc where she is also a member of the audit & risk, remuneration, management engagement and nomination […]
CT Private Equity Trust (formerly BMO Private Equity Trust) announced preliminary annual results for the year-end December 31 2022. NAV increased 14.8% for the period, while shares fell 8.9%. The trust contrasts that with a 0.4% return on the All-Share Index. The dividend yield was 6.1% based on the year-end share price. As we have […]
Schiehallion Fund Limited has announced annual results for the year ended Jan 31, 2023. Since its launch in March 2019, shares have ridden a rollercoaster, reaching a peak of more than 150% above list price, however as we have seen across the growth universe, many of these companies crashed back down to earth over the […]
VH Global Sustainable Energy Opportunities reported its annual results for the year ended 31 December 2022. Shares fell -5.61% while NAV increased by 7.6%. The company does not provide a benchmark in its annual report, however, performance was roughly in line with the S&P Global Clean Energy Index. The discount remained relatively steady throughout the […]
Impact Healthcare REIT has posted strong results as inflation-linked leases negate the impact of rising interest rates. The care home provider reported a 2.0% drop in NAV to 110.17p per share. Its property portfolio was valued at £568.8m as at 31 December 2022, up 14.3% in the year due to acquisitions. The change in fair […]
abrdn Smaller Companies Income Trust results for the year end 31 2022 December do not make for happy reading for investors. NAV fell 33.2% while the share price dropped 33.7%. This compares to the Numis Smaller Companies ex Inv Trust Index which fell 17.9%. The discount closed the year at around 16% however has since […]
Regional REIT saw its net asset value fall 24.4% in annual results to 31 December 2022, primarily as a consequence of rising interest rates affecting valuations in the property sector. The group’s EPRA net tangible assets (NTA) was 73.5p per share at the end of the year, compared to 97.2p a year prior. This was […]
Invesco Bond Income Plus (BIPS) released its annual results for the year ended 31 December 2022. In what was a tough year across the entire high-yield sector, shares fell from a premium of 2.3% at the beginning of the period to close at a discount of 3.4%, a fall of 5.2%. NAV fell 10.8%, trailing […]
Unbound group (UBG), formally Electra Private Equity, announced a statement regarding an offer from WoolOvers Group Limited for the entire issued and to be issued share capital of Unbound. Under the terms of the possible offer, Unbound shareholders would receive 10.5 pence in cash and 1 contingent value right per Unbound share. The terms of […]
Life Science REIT has reported a 8.9% fall in net asset value (NAV) in maiden annual results. Rising interest rates in the second half of the year and property acquisition costs (as it invested its IPO proceedings) resulted in a 7.5% drop in the value of its portfolio on book value to £387.6m. An outward […]
US Solar Fund (USF) has announced its annual results for the financial year ending 31 December 2022. Over the 12 month period USF’s portfolio grew to 543MWDC. USF’s NAV fell slightly from its half-year level, falling from the $321.2m it reported in June to $320.0m. USF’s portfolio actually increased in value over the year, however […]
In QuotedData’s morning briefing for 27 March 2023: The Renewables Infrastructure Group (TRIG) has entered into a corporate Power Purchase Agreement with BT Group for Blary Hill onshore wind farm. Pricing has been agreed for the duration of the 10-year PPA on pay-as-produced terms. Located in Scotland, the windfarm has a 35MW capacity, consists of […]
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Scottish Mortgage (0:29) • Banking problems – SVB/Credit Suisse fallout (8:34) This week’s interview was with Richard Staveley from Rockwood Strategic – watch it […]
The dividend hero and next generation hero lists published by the AIC are a great marketing tool for the investment companies industry and tend to generate a considerable amount of press attention, despite being a relatively simplistic yardstick (funds that have grown their dividend every year for at least 20 and 10 years, respectively). However, […]
Starwood European Real Estate Finance (SWEF) has released its annual results or the year ended 31 December 2022. This was the last year of account for which SWEF was not in realisation mode as, post period end, shareholders approved a new investment objective and policy that will see an orderly realisation of the fund’s portfolio, […]
Dunedin Enterprise (DNE) has announced its results for the year ended 31 December 2022, the key financial highlights of which are as follows: Share price total return of 18.5% in the year to 31 December 2022 Net asset value total return of 21.7% in the year to 31 December 2022 Realisations of £36.9m in the […]
Downing Renewables & Infrastructure (DORE) has announced that, in response to the discount to NAV the trust has been trading at recently, the board intends to commence buying back shares in the market where it believes this to be in shareholders’ interests. Both the board and manager think that the prevailing discount materially undervalues both […]
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