St. Peter Port is a fund of pre IPO investments (companies that are planning to list or have another exit opportunity for their shareholders in the offing). In its interim results for the six months ended 30 September 2013, SPPC announced that its net asset value fell by 10.4%. They attributed this, largely, to the strengthening of […]
Over the six months to end October 2013 MIGT delivered an NAV return of 6.8% – well ahead of its objective which is to beat 3 month LIBOR +3% with low volatility (MIGT’s annualised volatility was 8.3% over the period vs. 12.8% for the FTSE All-Share Index). MIGT’s Chairman has said that he believes the […]
Results for the six months ended 31 October 2013 show an NAV return of 10.5% vs. a benchmark return of 10.8%. The share price return was 9.4%. The Board has increased the interim dividend by 25% to 2.5p per share.
GCP released results for the year ended 30 September 2013. It generated a return to shareholders of 9.8% – 7.6% of which came in the form of dividends – the NAV at the end of September was 104.3p. GCP will move to making quarterly dividend payments. the proceeds of the last issue are substantially invested […]
ARC will distribute $30m (the proceeds of its sale of Beijing Science & Technology Management and Goodbaby – the buggy manufacturer). The distribution will be achieved via mandatory purchase of c11.5% of each shareholding at $0.88 per share (around NAV). The ex date for the distribution is 17 December and proceeds are payable on 23 […]
Over the year to the end of October 2013 DNDL managed to deliver a 38.1% total return on net assets which, after some discount widening, translated into a 33.8% for shareholders. this compares to a 47.8% return on the FTSE Small cap. ex investment companies index. Underperformance is attributed by the Board and the manager […]
Invesco Asia has released its results for the half year ended 31 October 2013. IAT outperformed over the period as the NAV returned 3.2%, the share price 2.6% and the benchmark lost 1.8%. The discount widened a little but the Board has reaffirmed its commitment to getting the fund to trade at a discount narrower […]
Eredene’s interim results for the period ended 30 September 2013 show a fall in the NAV from 17.2p to 13.3p as write downs in the valuation of investments were exacerbated by the falling rupee. The Board has taken steps to cut overheads by employing a new manager (Ocean Dial, manager of India Capital Growth Fund […]
Globalworth (a recently launched Romanian property company) is buying two office buildings in Bucharest comprising c82 thousand square metres of office space and associated car parking. The buildings were completed in 2008 and 2009. The acquisition price is €152m. This deal was flagged in GWI’s prospectus and is part of a larger deal that the company says will take […]
TEIF has sold an asset in Sweden (a 2,963 sqm light industrial building in Angelholm) for £0.98m – a small premium to its latest valuation. TEIF has also extended repayment of a €71m loan secured against assets in France, Belgium and Holland to July 2015. The new cost of this facility is 7.66% per annum including fees.
ERET has sold its largest investment, Europort (an industrial park in Frankfurt) for a figure between €49.5m and €51m – depending on the timing of the completion of the transaction. at the lower end this is 11% below their estimate of the property’s valuation at the end of June. the proceeds will be used to […]
Annual results have been released for the year ended 31 October 2013. The Board is making plans to wind up the fund by offering either a rollover into an open-ended fund or cash, consequently they have elected to prepare BRNE’s accounts on a liquidation basis. Over the year BRNE’s NAV rose by 27.4% and its […]
SDP’s Annual results for the period ended 30 September 2013 have just been released. They show the company produced a return of 1.9% in net asset value terms and 3% in share price terms while the benchmark, the MSCI All Countries Asia ex Japan index, delivered a total return of 5.3%. The manager says stock […]
Half year results to 31 October 2013 show an NAV uplift of 6.5% and an increase in the share price of 5.6%. MWGT’s benchmark is the return on Sterling LIBOR +2% (equal to 1.3% over the period – so MWGT comfortably outperformed its benchmark). MWGT’s return lagged that of the FTSE All-Share and MSCI World Indices […]
Results for the year ended 31 October 2013 show EWI had a great 2012/13 – delivering a 35.6% increase in NAV and 44.4% increase in share price as compared to a 21% increase in the MSCI All Countries World Index. EWI’s Board is concerned about its discount. It has decided to change the investment policy. […]
Half year results to end September 2013 – the fund, which is realising its investments and returning cash to shareholders, had 14.95p of cash per share at the end of September (out of a total NAV of 18.64p). IMAC is planning a distribution of 10p per share payable by 10 January 2014. IMAC still owns […]
Greencoat has raised an additional £83m from investors and will issue 80.975m shares at 102.5p using the money to pay down part of its debt – to leave £50m outstanding.
RSE will contribute $100m towards $300m being committed by Riverstone companies towards Eagle Energy Exploration. Eagle’s focus is on oil & gas exploration and production in mid US (exploiting the Mississippi Lime trend).
GCP has lent £14.5m to finance the construction of a 10.3 MWe wood fuelled biomass power plant in Tynsley, Birmingham. The 17 year loan will yield 9.1% pa.
JAI has released its results for the year ended 30 September 2013. In NAV terms the company returned 6.4%, beating its benchmark which returned 5.1%. The discount narrowed so the share price return was 7.2%. The Board are pleased that JAI beat its benchmark over the year but say they are determined that this should only be […]
Results for the six months ended 30 September 2013. NAV falls to 40.7p from 55.3p in part because of an 11% adverse shift in the sterling / rouble exchange rate but also because the valuations of AURR’s remaining investments has been reduced. AURR’s valuation of Unistream fell to £10.7m from £12m – growth has been lower […]
Praetorian Resources six months to the end of September 2013 saw the NAV fall from 32p to 21p as junior resources companies remained out of favour. The Board is asking for investors’ patience and hopes to raise more money for the fund to take advantage of what it thinks are the recovery prospects for its […]
DCG Iris has released a statement about the winter storm known as Xaver or Bodil. DCG believe the impact of the storm may have been less than that of Christian, the previous winter storm that struck Europe. Christian hit when the trees were in full leaf and caused many to topple while Xaver’s main impact […]
GCP lends £6.5m against three wind sites in Scotland and Wales. The deal will generate a yield of c9.8% per annum.
HMRC has rejected Gresham House’s application for investment trust status for the year ended 31 December 2012. GHE intends to appeal but says it does not have any liability to corporation tax or capital gains for that period. QD comment: this is all a bit technical but failing to get investment trust status can be […]
Standard Life Investments Property Income has bought three retail warehouse investments (in Leyland, Kings Lynn and Bradford (pictured)) for £12.7m and will earn an initial yield of 8% on these investments.
Results for the year to end October 2013. SCIN had a good year, beating both the FTSE All-World Index and the FTSE All-Share (SCIN NAV +28%, SCIN share price +29%, World Index +24%, UK Index +23%). Gearing was positive, adding 1.4% to returns.
In its eighth deal, LBOW lends £13.25m against a London based portfolio of high street retail and residential properties. LBOW now 85.1% invested with an average coupon of 7.28% per annum and an average yield to maturity of 8.29%.
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