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 […]
In its first full year since it became a dedicated Japanese investment trust, Aberdeen Japan has posted a 46.6% increase in its net asset value as compared to a 26% return for its benchmark index (Topix). The share price return was even better at 58.2% as the discount narrowed from 13.4% to 6.7% (all these numbers are […]
Capital Gearing has announced results for the year ended 5 April 2015. Over the year the net asset value grew by 5.7% but the share price fell by 0.7% as the shares moved to trade on a lower premium to asset value. The dividend was increased by 25% to 20p. The persistent premium that the […]
Praetorian Resources has today published a circular convening a meeting at which shareholders will be asked to approve a number of changes to the way the company is run. First the Board is proposing a new investment policy which would mean that the company would become a diversified royalty finance company. the proposed new investment […]
Majedie’s net asset value total return for the six months to the end of March 2015 was 14.5%. The return to shareholders was 10.5%. The interim dividend is 3p. 38.5% of the assets is in a segregated fund that tracks the MAM UK Equity Fund. This returned 7.7% net of fees in the six months […]
Elephant Capital’s net asset value rose by a penny over the six months to the end of February 2015 to reach 36p. Most of that increase can be attributed to a write up in the value of Air Works India (Engineering) Private Limited. Elephant Capital sold its last listed investment after the end of the […]
British Empire, chaired by Strone Macpherson (pictured), has reported total returns of 7.2% on both its net assets and shares for the six months ended 31 March 2015. These numbers are behind the returns on all the indices that British Empire uses to benchmark its performance. The Morgan Stanley Capital International All Country World ex-US Index total return […]
Over the six months to the end of March 2015 BlackRock Income Strategies generated a 0.5% return on net assets and on its share price. It declared dividends totalling 3.17p for the period – up 5.1% on the equivalent period last year but earned 15% less income so these dividends were not covered by earnings. These […]
Over the year to the end of March 2015, Martin Currie Pacific returned 19.3% on net assets and 24.8% on its share price. by contrast, the total return of the MSCI Asia ex Japan Index was 24.7% in sterling terms for the year (but NB this is not the fund’s benchmark). The dividend was maintained at […]
Aseana Properties will ask shareholders to approve a change of investment policy at an EGM to be held on 22 June 2015. The new policy will say that the Board and the Manager are committed to realising the Company’s assets in a controlled, orderly and timely manner with a view to achieving a balance between […]
Jupiter European Smaller Companies has announced results for the year ended 31 March 2015. The headline figures aren’t exciting – the net asset value total return was 0.3% which compares to a 0.1% return on the fund’s benchmark and a -1.4% return to shareholders as the discount widened slightly. The total dividend for the year […]
JPMorgan Indian’s interims for the six months ended 31 March 2015 show the fund producing a total return on net assets of 26.8% well ahead of the Company’s benchmark index, the MSCI India Index (in sterling terms), which returned +14.3% over the period. The return to shareholders was +26.7%, reflecting a stable discount which moved […]
Lowland’s performance was just ahead of its benchmark over the six months ended 31 March 2015. The interim report says the total return on net assets was 5.6% as compared to 5.3% for the FTSE All-Share Index. The share price return was hit by a shift from trading on a 0.7% premium to a 7.6% […]
Empiric Student Property has been busy in recent days, acquiring a development site in Huddersfield (Oldgate House, pictured) for £11m and a portfolio of five operational, direct-let, premium student accommodation properties in Lancaster and Leicester from CityBlock, comprising a total of 381 beds, bought for £26.5m – this is on top of the deal they […]
Riverstone Energy is investing up to $33m as part of a $100m investment in Carrier Energy Partners II LLC. Riverstone and Carrier II Management previously formed Carrier Energy Partners, LLC (“Carrier I”) in August 2013 to pursue the same strategy. Since then Carrier has participated in two joint ventures targeting development of oil and gas […]
Caledonia’s net assets value total return over the year ended 31 March 2015 was 14.2%. They aim to generate returns of RPI+3% to RPI+6% per annum over a ten year period The dividend was increased by 3.1% to 50.6p marking the 48th year of consecutive dividend increases. The portfolio, before management expenses and other net […]
TR Property beat its benchmark by a decent margin over the year to the end of March 2015, producing a return on net assets of 28.3% and a share price return of 29.5% as compared to a 23.3% return on the benchmark. The dividend was increased by 3.4% on earnings up 9.9% and the dividend […]
McKay Securities’ results for the year ended 31 March 2015 are out. The EPRA NAV was up 18.9% to 270p. Adjusted profit before tax up 69.2% to £5.79m (fall from £38m to £33m on an IFRS basis which takes into account changes in the value of interest rate hedges). The Total Shareholder Return was 24.8% […]
Securities Trust of Scotland lagged its benchmark a little over the year to the end of March 2015, returning 12.5% on net assets against a 13.4% return on the benchmark. Shareholders did much worse however as a discount opened up leaving them with a return of just 3.1%. The dividend was increased from 4.8p to 4.9p. […]
Henderson Value Trust interim results for the half-year ended 31 March 2015 show a NAV total return of 0.4% which compares against a 12.4% rise in its FTSE World Index benchmark. However, the managers that this this masks some encouraging developments within the investment portfolio. They say that new investments made by Henderson, which were in […]
Sirius Real Estate has announced its full year results for the year ended 13 March 2015. The company completed a dual listing on the Alternative Exchange of the Johannesburg Stock Exchange in December 2014 and, at the same time, raised €40m to support the expansion of the property portfolio. The company has since announced the acquisition of […]
MedicX Fund has announced its interim results for the half year ended 31 March 2015. The company reports adjusted earnings of £7.0 million during the period, an increase of £2.3 million or 48.9% year-on-year. Its adjusted net asset value increased 4.6% to 68.8p per share whilst the total share price return was 5.4% during the period. In terms of […]
SEGRO PLC has announced that it is to acquire 90% of Vailog Srl for €39.6m (£28.1m). SEGRO say that the purchase will allow them to establish a strategic big box warehouse presence in the Northern Italian logistics market with opportunities to grow additional scale through development. Segro also say that Vailog has developed over 1.5 million […]
GCP Infrastructure Investments has announced its results for the six months ended 31 March 2015. Profit for the period was £22.1m, which is a 16.9% increase year-on-year and the company was trading at an 11% premium to its NAV as at 31 March 2015. An additional £70m of equity was raised during the period, through a placing ,whilst […]
Empiric Student Property has announced the acquisition of St Margaret’s Flats (pictured) – a freehold, operational, direct-let, student accommodation property in Durham for £5.1m (excluding acquisition costs). Built in 1994, the property has 109 beds, principally comprising 5-bed flats, across five blocks and was refurbished for the 2011/12 academic year. This included the replacement of all kitchens, bathrooms […]
Secure Property Development & Investment has announced that it has agreed to acquire a series of property assets in Romainia and Bulgaria reflecting its strategy to build a portfolio of commercial real estate in East and South East Europe. The acquisition is to be funded by issuing new SPDI shares to the vendors of the […]
HgCapital Trust has announced that it is investing £19.7m to acquire a majority investment in The Foundry Visionmongers Ltd, a visual effects software development company, from The Carlyle Group. HgCapital trust is making its investment through HgCapital 7 Fund, alongside other institutional clients of HgCapital, in a transaction that places an enterprise value of £200m on the Foundry. […]
SQN Asset Finance Income Fund has announced that it is looking to raise £30m through a placing of new ordinary shares. The company had its IPO in July 2014 raising £150m and since this time has funded £122m of investments. However, the company says it now has funded, approved and committed investments of £173m as well […]
Electra Private Equity’s interim has released its interim results for the six-months ended 31 March 2015. These show a 12% increase in NAV during the period, whilst Electra’s share price rose 19%, reflecting a narrowing of the discount. This compares favourably against the FTSE All-Share returned, which returned 5% during the period. The total return on the portfolio was £11m of […]
Great Portland Estates’ results for the year ended 31 March 2015 show a 24.6% uplift in its EPRA NAV as the property portfolio delivered underlying capital growth of 18.0% with a total property return of 21.5%. This in turn was driven by falling yields. Including rent from pre-lets and leases currently in rent free periods, the […]
