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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

23 May 2023
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QuotedData’s morning briefing 23 May 2023

In QuotedData’s morning briefing 23 May 2023: Harmony Energy Impact’s (HEIT) NAV was 6.7% lower at end April (117.1p, down from 125.5p at end January) after it cut the power price forecasts used in its NAV calculation. Aberforth Smaller Companies (ASL) has renewed its £130m revolving credit facility with The Royal Bank of Scotland International […]

22 May 2023
a coffee cup next to an alarm clock

QuotedData’s morning briefing 22 May 2023

Cordiant Digital Infrastructure Limited (CORD), an operationally focused investor in the core digital infrastructure that enables modern communications and the internet, announced that the portfolio company, České Radiokomunikace has signed customer agreements to broadcast three new channels. The team at Cordiant Capital Inc, CORD’s investment manager, supported CRA in the signing of these exciting new revenue-generating […]

Companies
19 May 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 19th May 2023

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: • abrdn Japan (0:36) • BioPharma Credit (8:02) ​• Gresham House Energy Storage (13:12) This week’s interview was with Michael Anderson from Aquila Capital European Renewables – […]

Sectors
Companies
19 May 2023
consumer spending

QD view – Time to buy Scottish Mortgage?

Scottish Mortgage’s share price is almost 60% below its November 2021 peak. It published results for the 12 months ended 31 March 2023 this week and they were not pretty. Over the period, the NAV return was -17.8%, but – as the discount widened – the return to shareholders was -33.5%. Discount at 30-year record […]

Sectors
19 May 2023
230502 MATE

JPMorgan Multi-Asset Growth & Income misses benchmark but maintains stability

JPMorgan Multi-Asset Growth & Income (MATE) announced annual results for the year ended 28 February 2023. The company recorded a negative total return of -5.3% on its opening net asset value, an underperformance of 11.3% for the year, compared to the benchmark. The company’s share price returned -1.5% during the period as the discount to […]

Sectors
19 May 2023
230209 morning

QuotedData’s morning briefing 19 May 2023

The Unbound Group (UBG) (formerly Electra Private Equity) provided an update follow its strategic review. The company had recently reported that the trading environment remained challenging over Q1 with conditions deteriorating more than expected, leaving the company with cash constraints. As a result the board has decided to initiate a formal review of strategic options available […]

Companies
18 May 2023

Rising rates hit Tritax EuroBox NAV but earnings healthy

Tritax Eurobox has published results for the six months ended 31 March 2023 and, while the NAV has fallen, the overall picture looks quite good. Highlights were: Falling net assets Portfolio value of €1,596.7m (30 September 2022: €1,765.6m), with like-for-like reduction of 14.7%, primarily due to significant outward yield shift across the sector, partly offset […]

18 May 2023
230518 ajot

AVI Japan submits proposals to NC Holdings and SK Kaken

AVI Japan Opportunities has submitted shareholder proposals to both SK Kaken and NC Holdings. Details of AVI’s campaign on SK Kaken can be accessed here and that of NC Holdings can be accessed here. SK Kaken AVI notes that, despite a high-quality business model and having a dominant share of the domestic construction paint market, […]

18 May 2023

Gresham House Energy Storage targets £80m fundraise

Gresham House Energy Storage Fund has announced a proposed placing of shares to institutional investors and a separate offer of shares on the REX platform (the “Retail Offer”) available to existing UK-based retail shareholders of the company. Targeted gross proceeds are approximately £80m, of which the maximum size of the Retail Offer will be capped […]

18 May 2023

abrdn Latin American Income wind up proposals

A proposal to wind up abrdn Latin American Income was announced on 15 March. Now we have more detail on the process of doing this. The proposals involve the company being placed, with the approval of shareholders, into summary winding-up. If the resolution is passed at the EGM and the joint liquidators are appointed, they […]

18 May 2023
230518 ajit navf japan

Surprise move to merge abrdn Japan and Nippon Active Value

Heads of terms have been agreed for a proposed combination of the assets of abrdn Japan Investment Trust with those of Nippon Active Value Fund. The abrdn Japan board says that the proposal follows an extensive review of various investment strategies in the Japan fund sector. It believes  the case for taking advantage of recent corporate […]

18 May 2023
a coffee cup next to an alarm clock

QuotedData’s morning briefing 18 May 2023

In QuotedData’s morning briefing 18 May 2023: JLEN Environmental Assets (JLEN) NAV at end March 2023 slipped very marginally (0.4p) from the level at end December. Falling near-term power prices, which have affected other renewable energy funds, are less impactful on JLEN, which has a high degree of protection from short term price hedges as […]

Companies
17 May 2023

NAV update for abrdn Private Equity Opportunities

abrdn Private Equity Opportunities Trust (APEO)  provided an update for its estimated NAV. At 30 April 2023, APEO’s estimated NAV was 738.1 pence per share (estimated net assets £1,134.8 million), representing a 1.0% per share decrease from the estimated NAV at 31 March 2023 of 745.9 pence per share (estimated net assets £1,146.8 million). The […]

Geographies
  • Europe (EU and EEA ex UK)
  • North America
  • UK
17 May 2023
Scottish Mortgage - SMT

End of a challenging year for Scottish Mortgage

Scottish Mortgage announced its annual results for the year to 31 March 2023. The company NAV fell 17.8%, and shares dropped 33.5%. This compares to the FSTE All World Index which fell 0.9% while the global sector average share price fell 13.6%. These numbers reflect the company’s exposure to high growth sectors of the market, […]

17 May 2023

VietNam Holding Limited update for April

VietNam Holding Limited (VNH) has announced a monthly investor report and manager update for April. As of April 30, the company was up 4.4% YTD, a slight drag on the Vietnam All Shares Index which was up 5.2%. Shares were down 0.4% over the past month. In addition to its recent performance, management added the […]

Sectors
17 May 2023
a coffee cup next to an alarm clock

QuotedData’s morning briefing 17 May 2023

Sequoia Economic Infrastructure Income Fund (SEQI) provided a monthly update for April. The company’s NAV grew 1.5% over the course of the month. The company also added an additional purchase of Samhällsbyggnadsbolaget (SBB) 2027 senior corporate bonds for €5.0m (SBB is a social infrastructure property company listed on the Nasdaq Stockholm (Large Cap) and the […]

16 May 2023

QuotedData’s morning briefing 16 May 2023

In QuotedData’s morning briefing 16 May 2023: Apax Global Alpha (APAX) announced that it has signed a definitive agreement to acquire a significant minority stake in IBS Software through the Apax XI Fund in which APAX is a limited partner. IBS is a leading provider of modern software solutions to the global travel and logistics industry. […]

Companies
15 May 2023

Tritax Big Box REIT ventures into urban logistics

Tritax Big Box REIT has acquired a urban logistics park in Birmingham for £58.5m, at a 4.5% net initial yield and a reversionary yield of 6.7%. The group has bought Junction 6 Industrial Park, one of the UK’s leading urban logistics estates of scale totalling 384,000 sq ft across 12 assets. It is located less than […]

Sectors
15 May 2023
230512 NAS

NAS struggles despite its underlying profitability

North Atlantic Smaller Companies (NAS) has announced its 12 month results for the financial year ending 31 January 2023: Over the 12 month period NAS generated a NAV total return of -11.8%, and a share price return of -9.9%. The investment team attributes this negative return to the difficulty of markets, which was “one of […]

Sectors
15 May 2023

QuotedData’s morning briefing 15 May 2023

In QuotedData’s morning briefing for 15 May 2023: Chrysalis (CHRY) has announced a £12.5m follow-on investment in its existing holding in Smart Pension. This investment forms part of a $95 million Series E funding round. This funding round will be used to drive Smart Pension’s growth in key markets, finance a pipeline of acquisitions, and […]

12 May 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 12th May 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Reed and Richard Williams covered the week’s top stories: Update on Renewables Octopus Renewables Infrastructure (1:30) Bluefield Solar (6:13) NextEnergy Solar (7:18) HydrogenOne (9:36) US Solar no longer up for sale […]

Sectors
Companies
12 May 2023
230512 QD view - Growth capital

QD view – Growth capital – fast-growing companies at compelling prices?

It has been a tough year for the investment companies in the growth capital sector. Valuations were hit hard by rising interest rates and widespread risk aversion among investors. The sector now offers some apparently attractive discounts to net asset value, but this depends on the continued strength of the underlying companies. Are the early […]

Sectors
12 May 2023
US Solar Fund

USF continues its quest to unlock shareholder value

US Solar Fund (USF) has provided an update on its strategic review, which it undertook in October 2022 to maximise shareholder value. USF currently trades on a 16.5% discount, and has traded on a sustained, downward trending, discount since the start of 2022. The board has so far rejected an offer for the purchase of […]

Sectors
12 May 2023

NESF announces its 10th consecutive dividend increase, and accounting error

The board of NextEnergy Solar Fund (NESF) has approved a dividend target of 8.35p, representing an 11% increase from the previous year’s dividend of 7.52p. This will represent NESF’s 10th consecutive dividend increase, with NESF paying a total of £305.8m in dividends since its IPO, or 55.72p per share, fulfilling its progressive dividend objective. NESF […]

12 May 2023

QuotedData’s morning briefing 12 May 2023

In QuotedData’s morning briefing 12 May 2023: Tritax EuroBox (EBOX) has agreed a new 10-year green lease to a leading logistics company at its recently completed property in Dormagen, a prime logistics location in the Düsseldorf region of Germany. The 36,000 sqm letting was 17.8% ahead of the rental guarantee that EBOX was receiving from […]

Sectors
11 May 2023
home reit logo over a picture of a residential street

Home REIT board ‘ghosts’ potential bidder

Bluestar Group, which has bid for Home REIT, has launched a scathing attack on the board of the embattled homeless accommodation provider accusing it of effectively ignoring it or ‘ghosting’ it. The group complained that the board had not been in contact in weeks, despite offering 40p per share to buy the company on 14 […]

Sectors
11 May 2023
mostly cloudy skies over two rows of solar panels in a field

Bluefield Solar NAV off highs on power price fall

Bluefield Solar’s NAV as at 31 March 2023 was £850.2m or 139.1p per share, 3.3p down on the end December NAV of 142.4p. The NAV total return for the quarter was -2.3%. The main reason for this was the recent falls in power prices (linked to falling natural gas prices). The NAV includes the published […]

11 May 2023
REATA logo - a square of nine dots in grey and blue 230511 bpcr reata

BioPharma Credit funds Reata Pharmaceuticals

BioPharma Credit and BioPharma Credit Investments V (Master) LP has entered into a definitive senior secured loan agreement with Reata Pharmaceuticals, Inc. The company will invest up to $137.5m and BioPharma-V will invest up to an additional $137.5m in parallel. Based in the US, Reata is a publicly traded (NASDAQ) biopharmaceutical company with a current […]

Sectors
11 May 2023
230511 wkof Krishna Shanmuganathan

QuotedData’s morning briefing 11 May 2023

In QuotedData’s morning briefing 11 May 2023: Krishna Shanmuganathan is to replace Norman Crighton as chair of Weiss Korea Opportunity (WKOF) when Norman steps down from the board at the AGM on 20 July 2023. Separately, holders of just 41,496 shares elected to take advantge of the company’s latest realisation opportunity. Ecofin Advisors, LLC has […]

Companies
10 May 2023
230421 HGEN CAeS Britten Norman Islander

HydrogenOne portfolio continues to perform despite widening discount

HydrogenOne announced its quarterly net asset value and portfolio update for the period ended 31 March 2023. The company NAV grew 2.8% over the quarter and is up 3.3% year on year. Despite the positive NAV returns, shares were down more than 40%, although they are up 24% since the beginning of May. Some of […]

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