Tau Capital has completed the sale of its investment in Lucent for $250,000 and is working on the sale of Stopharm. They have a $7m offer for their investment but Stopharm needs a cash injection so they are exploring whether they can lend Stopharm $700,00 out of the proceeds of the sale and then sell the […]
Over the year to the end of March 2015, Picton Property Income’s net asset value climbed from 56p to 69p and its earnings per share grew from 10.4p to 15.4p. To give a total return of 27.4%. They maintained the dividend but this year will increase it by 10% to 3.3p per share [corrected from version where […]
Ediston Property has announced the acquisition of a B&Q Extra Retail Warehouse in Coatbridge, Scotland for £16.8m. The acquisition price is equivalent to a net initial yield of 7.46%. The property extends to 103,000 sq. ft., plus a garden centre and builders’ yard, with parking for 600 cars, on a site of 4.27 acres. It is […]
BBGI SICAV has announced the acquisition of the remaining 50% it didn’t already own in the Northern Territories Secure Facilities PPP Project in Australia. The Northern Territory Secure Facilities is a new 1,000 bed correctional facility, located on a greenfield site at Holtze, near Darwin, Australia. NTSF became operational in 2014 and allows Northern Territory […]
JPMorgan European has announced results for the year ended 31 March 2015. The report says that both the growth and income pool outperformed their benchmark (MSCI Europe ex UK) over the year with the Growth shares producing a total return of +14.5% and the Income shares a total return of +15.4%, compared with 7.0% for the […]
UK Commercial Property has announced the sale of two assets from its retail portfolio, 176-206 Kensington High Street, London and 134-138 North Street, Brighton in two separate transactions for a total consideration of £82.7m, which is marginally ahead of their aggregate valuation as at 31 March 2015. The assets have been deemed to be non-core to […]
Personal Assets’ results for the year ended 30 April 2015 have been published and they show that the net asset value rose by 4.8% in capital terms vs. 3.9% for the FTSE All-Share Index. In price terms Personal Assets rose by 5.7% as they moved from a 0.6% discount to a 0.2% premium. The quarterly dividends for the […]
Edinburgh Worldwide beat its benchmark by a decent margin over the six months ended 30 April 2015, returning 14.7% on net assets vs. a 10.4% return for the benchmark, the S&P Citigroup Global Small Cap Index, the return to shareholders was even better at 17.7% as the discount narrowed from 8.5% to 6.1%. There is […]
UK Smaller Companies trusts were among the best performers last month, after the political uncertainty of the general election subsided. The sector performed particularly strongly in terms of both price and net asset value (NAV), according to figures from QuotedData. http://www.investmentweek.co.uk/investment-week/news/2411360/uk-small-cap-trusts-surge-as-election-fears-subside
Montanaro European Smaller Companies Trust underperformed its benchmark, the MSCI Europe SmallCap ex UK Index, over the year to the end of March 2015 – falling by 3.6% vs. a 1.6% increase in the Index. The discount widened slightly as well leaving the share price 4.6% lower. return were held back by the weak Euro which […]
PME African Infrastructure has published results for the year ended 31 December 2014 which is quite a while ago now. For what it’s worth the net asset value fell from 46 cents to 24 cents over 2014. since the year end the company has sold its largest asset, Sheltam Holdings, for $11.5m. The deal completed […]
Establishment Investment Trust has published results for the year ended 31 March 2015. Over that period the fund delivered a return on net assets of 13.6% and a return to shareholders of 6.9%. The dividend was increased from 4.7p to 4.9p. By contrast he FTSE WMA Stock Market Balanced Index returned 12.0%. During the year […]
Monks has published results for the 12 months ended 30 April 2015. In the year to 30 April 2015, the net asset value total return, with borrowings at fair value, was 13.0% and the share price total return was 18.8% as the discount narrowed. The total return of the FTSE World Index in sterling terms […]
Custodian REIT has acquired 1.88 acres of land at the Tournament Fields development, two miles south west of Warwick at junction 15 of the M40. The location allows easy access to the motorway network, mainline rail services (via Warwick Parkway station) and is close to Birmingham International Airport. Other occupiers on the business park include […]
John Laing Environmental Assets has published its first set of results covering the period from its launch on 31 March 2014 to the end of March 2015. The NAV at the end of the period, adjusting for the dividend, was 98.2p – this compares to the 100p launch price and the 98p initial NAV of the company […]
Perpetual Income & Growth has reported a 10.7% return on net assets for the year to the end of March 2015 which compares well to a 6.6% return on the FTSE All-Share index over the same period. The return to shareholders was 10.1% as the discount widened slightly from 1.5% to 3%. The base dividend […]
Workspace has announced its results for the year to 31 March 2015 and they are good. The EPRA net asset value per share was up 42% to 703p (2014: 496p). The EPRA earnings per share rose from 22.7p to 29.2p The total property return was 37%. On a like-for-like basis the capital value per square foot […]
Dolphin Capital has this morning announced a series of measures that they believe will help narrow their discount to asset value. In a nutshell, they are raising €75m (but we don’t know the price yet so it’s not clear how dilutive this will be to existing shareholders – the guess would be very as the […]
LondonMetric Property has announced results for the year ended 31 March 2015 and separately has announced it is buying a portfolio of M&S convenience stores for £26m. Over the year to the end of March 2015, LondonMetric Property’s EPRA net asset value rose by 16% to 140.6p. The dividend is being maintained at 7p but they […]
BP Marsh has just published results for the year ended 31 January 2015. Over that period the net asset value rose from 202p to 216p and the return to shareholders was 8.2%. The final dividend is 2.75p, unchanged from last year. £1.7m was invested in new equity investments and £1.4m was injected into existing investments. […]
Northern Investors, which is gradually selling off its portfolio and returning the proceeds to shareholders, has published results for the year ended 31 March 2015. Over the year the net asset value rose by 20.6% to 523p and they handed back £20m to investors in capital returns and dividends. The dividend is being increased from […]
Tritax is spending £47.1m to buy the Tesco Regional Distribution Centre at Capitol Park, Goole. The price reflects a net initial yield of 5.67%. They are paying for the deal using their own resources but expect senior debt finance to be introduced in the near term. Completion is expected to take place by 5 June […]
Scottish Investment Trust has published interim results for the six months ended 30 April 2015. Over the period the fund produced a return on net assets of 9.8% which compares to returns on the FTSE All-World Index and FTSE All-Share Index of 9.6% and 9.2% respectively. The manager’s report goes into the portfolio in some […]
Shires Income’s results statement for the year ended 31 March 2015 says the company generated a return on net assets of 9.7% for the year, ahead of a 6.6% return on the FTSE All-Share Index. The company’s shares did not keep pace with the net asset value however and the return to shareholders was 4.9%. […]
