Aberforth Geared Income Trust is cutting the “asset fee” element of its management fee from 1% to 0.9% with effect from 1 July 2015. This is obviously welcome news for its shareholders but it is odd that it didn’t simplify its fee at the same time – from 1 July the fee is: 0.9% of the […]
Finsbury Growth & Income’s interim results for the six month period that ended on 31 March 2015 demonstrate why it is so popular with investors. The total returns on both net asset value and share price were 17.4% and 17.3% respectively while the return on the FTSE All-Share Index was just 5.3%. The first interim […]
3i Infrastructure’s results for the year ended 31 March 2015 demonstrate the positive impact on the business from their sale of Eversholt Rail. The total return on net assets for the period was 24.6%. The dividend is upped from 6.7p to 7p and a 17p special dividend is planned for July. They plan to pay a […]
JZ Capital has announced results for the year ended 28 February 2015 show that the fund generated a total return on net assets of 8.9%. They declared a second dividend of 17.5 cents per share for the six months ended 28 February 2015, compared to 16.0 cents for the period ended 28 February 2014. Having […]
LXB Retail has published figures for the six months ended 31 March 2015. It was a busy period for the company with a number of major deals announced within the portfolio. The net asset value climbed by 5.57p as the value of its property portfolio was marked up by £12.1m. The company faces a continuation […]
Keystone’s interim results for the six months ended 31 March 2015 show the fund’s net asset value delivering a total return of 7.8% – ahead of the 5.3% return generated by the FTSE All-Share Index. The return to shareholders was 7.2%. The dividend was maintained at 18p per share. The report says holdings in Reynolds […]
Polar Capital Global Healthcare interim results for the six months ended 31 March 2015 show the company’s net asset value total return was 19.1%, a good result but unfortunately 2.6% behind the MSCI All Countries World Index Healthcare Index. What’s more, the discount widened from 5.4% to 9.8% so the return to shareholders was even […]
Nimrod Sea Assets published a trading update on Friday afternoon in which it said Fletcher Shipping has notified Aberdeen Offshore (which is the General Partner of the entity in which Nimrod Sea Assets has a 75% equity interest) that it will not be taking delivery of the second vessel (known as FS Scorpius) from the […]
Shareholders in John Laing Infrastructure refused to support one of the resolutions that the Board put forward at the company’s recent Annual General Meeting. In language might have been incomprehensible to many shareholders, the Board had couched a resolution that would have made it easier to issue new shares in the company without first offering […]
Empiric Student Property has announced the acquisition of Claremont Place in Newcastle, a terrace of Grade II listed buildings being converted to a luxury, direct-let, student accommodation property by specialist developer, Ziggurat Student Living. The building is expected to be operational by September 2015, in time for the 2015/16 academic year. The property is immediately adjacent to […]
Scottish Mortgage has published results for the year ended 31 March 2015. Its net asset value total return for the year was 27.7% and the share price total return was 29.6%; these returns were well ahead of the FTSE All-World Index, which produced a total return over the period of 19.2%. A final dividend of 1.55p is proposed, giving […]
Whitehall Road offices receive planning permission: Town Centre Securities has secured planning consent for an eight story, 70,000 square foot office with 38 parking spaces on a brownfield plot on Whitehall Road, Leeds. The development forms part of the TCS Whitehall Riverside scheme which includes 300,000 square foot of premium office space, a 500 space multi-storey […]
Baring Emerging Europe’s half year results, for the six months to the end of March 2015, show that the fund outperformed a falling market with the net asset value total return being -9.9% as compared to a -11.0% return on the MSCI Emerging Market Europe 10/40 Index. The return to shareholders was -8.2%. The Chairman’s statement […]
JZ Capital Partners and its property partner, Red Sky Capital, are buying 192 Bedford Avenue in Williamsburg, New York. The property features frontage of 20 ft. on Bedford Avenue and offers up to 6,000 sq. ft. of build-to-suit multi-level retail space with only one short term lease (Mizu, a Japanese restaurant) encumbering the property. JZ […]
Kennedy Wilson Europe has paid £68.5m to acquire a loan secured against the freehold interest in Pioneer Point, Ilford. The loan is non-performing and the unpaid principal balance of the loan is £149m. Kennedy Wilson reckon that the purchase price of the loan is materially below the replacement cost of the property. Pioneer Point is […]
MedicX Fund has issued £50m worth of loan notes to Standard Life Investments. The loan notes mature on 30 September 2028. £25m has been drawn down now and the balance will be drawn down in September 2015. The interest rate on the notes is 3.838% per annum and this brings the weighted average cost of debt […]
Tritax Big Box REIT is spending £30m to buy one of New Look Retailers Ltd’s two adjoining national and European distribution centres in Newcastle-under-Lyme. the purchase price works out at a net initial yield of 5.9%. Constructed in 2007 and extended in 2011 to satisfy New Look’s expansion requirements, the property comprises a gross internal […]
Troy Income & Growth has published interim results for the six months ended 31 March 2015. This was a good period for the fund which returned 10.3% on net assets – almost twice the 5.3% return posted by the FTSE All-Share Index. Shareholders did even better as the fund moved to trade on a higher […]
Empiric Student Property is buying a 61 bed direct-let, premium student accommodation scheme in Exeter for £6.1m and is paying £1m for the freehold of a site for a 93 bed residential development in Manchester. In Exter, they will acquire the freehold to the site which was previously home to the Exeter library and is a […]
GLI Finance is investing £1.25m in ordinary shares and £0.75m in preference shares issued by Funding Options. They’ll get a 28.9% stake in the company. Funding Options uses proprietary online technology to scan the alternative finance market for the most suitable funding options available. Mixing sophisticated matchmaking tools, accessible expert support and practical education materials, […]
Blackstone/GSO Loan Financing has published its first set of results covering the period from incorporation, through IPO on 23 July 2014 to the end of December 2014. By the end of the year they were only 32% invested and even now this only up to 51% but they knew it would take time and say […]
Africa Opportunity Fund’s results for 2014 show its net asset value fell by 17% over the year. Its C shares (it raised more cash in April 2014) saw their net asset value fall by 9% by the end of the year. The C share money is some way off being invested. As at 31 December 2014, […]
Aberdeen Latin American Income has published interim results covering the six months that ended on 28 February 2015. Over that period the fund generated a return on net assets of -19.1% and the return to shareholders was -18.6%, both worse than the return on their benchmark – a blend of the MSCI EM Latin American 10/40 […]
Ukraine Opportunity results reflect the turmoil that that country has been through over the course of 2014. Over the year the net asset value fell by 45%. The share price move wasn’t quite so bad however – it fell by 19.5% to end the year on a discount of 13.2% rather than the 40% it […]
Schroder Income Growth interims for the six months ended 28 February 2015 were published last night. The fund outperformed the FTSE All-Share Index, achieving a net asset value total return of 7.9% versus the 4.1% recorded by the Index. At the same time, the Company’s share price produced a total return of 6.0%, with the […]
Marwyn Value Investors’ 2014 results show the NAV rose by 14.5% over the year. The bulk of Marwyn’s net asset value is invested in Entertainment One (ETO). During the twelve month period to 31 December 2014, ETO’s share price increased from 259.2p to 322.4p, an increase of 24.38%. It is hard to tell from the accounts […]
Carador has published its results for 2014. The statement says risk assets and sub-investment grade corporate credit markets in particular experienced considerable price volatility with the Credit Suisse Indices for both leveraged loans and high yield bonds delivering just 2.1% and 1.9%, respectively. Against this backdrop, the Company delivered a 6.3% total shareholder return in 2014, outperforming the […]
Edinburgh Dragon‘s recent half yearly results report a rise in NAV of 3.7% during the six-months to 28 February 2015, underperforming its MSCI All-Countries Asia (ex-Japan) Index which rose 5.9% (all in Sterling adjusted terms). The company reports that this was due to be underweight China (the Chinese stock market outperformed the broader region during […]
JZ Capital Partners has announced the acquisition of S.A.C, an operational van leasing company based to the south of Copenhagen in Denmark. S.A.C. is JZCP’s first Danish investment. S.A.C’s is engaged in flexible short and long term leases (the average lease period is approximately four years). The company controls the full life cycle of its product, including procurement, financing, service & […]
Masawara has published its final results for the year that ended 31 December 2014. During the period, shareholders’ equity rose by 16.5% to $84.6m. This $12m increase offsets the $9.6m fall that the company suffered during 2013. The company says that key contributors to this were the disposal of Masawara Energy Mauritius Limited at the beginning […]
