Apax Global Alpha (AGA) has announced that it expects to invest approximately €29m in Veriforce on a look-through basis as the Apax XI Fund, in which AGA is a limited partner, has announced that it has reached a definitive agreement to acquire a controlling stake in Veriforce, a global provider of supply chain risk management […]
In QuotedData’s morning briefing 29 August 2024: CT Private Equity (CTPE) has published its interim results for the six months ended 30 June 2024, during which it provided NAV and share price total returns of 0.8% and -4.5% respectively. CTPE says that it benefited from strong realisations and associated income in the period of £52.3m, […]
In QuotedData’s morning briefing 28 August 2024: abrdn Property Income Trust (API) has sold Bastion Point, a single-let industrial unit in Dover that is let to the Secretary of State for Housing Communities and Local Government, for £9.475m. The sale price is in line with the end June 2024 valuation but 4.8% below the end […]
In QuotedData’s morning briefing 27 August 2024: Literacy Capital (BOOK) announced its interim results for the six months ended 30 June 2024. The company saw a NAV total return of 4.4% while its share price increased 9.9%, compared to a 5.8% increase for the benchmark index. In June 2024 Literacy celebrated its third anniversary since […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Doric Nimrod Air Two (0:19) Harmony Energy Income (6:49) This week’s interview was with Craig Baker from Alliance Trust – watch it again here.
QD view – four idiosyncratic investment options that provide a differentiated and diversifying addition to a portfolio Part of the joy of investment trusts is that they allow fund managers more room to explore. It doesn’t matter too much if a strategy is highly cyclical, goes through periods of unpopularity, or is illiquid, because managers […]
Harmony Energy (HEIT) reported a 1.4% drop in NAV to £215.43m or 94.84p per share over the quarter to 31 July 2024. The decrease was mainly driven by a negative mark-to-market valuation of the company’s interest rate swap (-1.15p), partly offset by the positive revaluation of its Rusholme project following energisation (+0.30p). Target commercial operations […]
In QuotedData’s morning briefing 23 August 2024: abrdn European Logistics Income (ASLI) posted a sharp fall in NAV due to the estimated costs of selling off its portfolio as part of the managed wind down of the trust. NAV over the quarter to 30 June was down 4.2% to 87.9 euro cents (GBP – 74.4p […]
Baillie Gifford US Growth has published results covering the 12 months ended 31 May 2024. Over that period, the trust returned 16.2% in NAV terms, well-behind the 24.8% return posted by the S&P 500 Index. However, the shares moved from trading at a discount of 22.4% at the start of the financial year to a […]
In QuotedData’s morning briefing 22 August 2024: Pauline Ng has become an additional named portfolio manager for JPMorgan Asia Growth & Income (JAGI), working alongside co-managers Robert Lloyd and Ayaz Ebrahim. Pauline joined JPMorgan Asset Management in 2005 and is a country specialist for the Association of Southeast Asian Nations (ASEAN) equities and head of […]
Doric Nimrod Air Two (DNA2) has sold its five remaining Airbus aircraft to Emirates for $200m (153.5m). The company, which purchased seven Airbus A380-861 aircraft from October 2011 onwards and leased each for 12 years to Emirates, intends to distribute the sale proceeds to shareholders (together with the remaining cash holdings, net of any liquidation […]
In QuotedData’s morning briefing 21 August 2024: Temple Bar Investment Trust (TMPL) posted a NAV total return of 13.1% for the six month period to 30 June 2024, outperforming the FTSE All-Share Index of +7.4%, as market conditions for value investing improved. The share price total return was +11.0%. Particularly strong returns from portfolio companies […]
Educational Video – This video explains how private equity firms create value. In this series by Oakley Capital, they break down private equity and explore how it helps companies accelerate growth through value creation.
Diverse Income Trust has published results for the year ended 31 May 2024. The NAV total return for the period was 16.5%, which it compares to 15.6% for a peer group selected by the trust, and 15.6% for the Deutsche Numis All-Share Index. (It also publishes an adjusted NAV which takes account of the performance […]
In QuotedData’s morning briefing 20 August 2024: Polar Capital Global Financials (PCFT) has been promoted to the FTSE 250 Index, replacing Redrow which has been taken over by Barratt Developments. Triple Point Social Housing REIT (SOHO) has completed the transfer of all 38 properties previously leased to struggling housing association Parasol (representing 9.7% of the […]
Caledonia Investments (CLDN) has invested £55m to acquire a majority stake in Direct Tyre Management Limited (DTM), the UK’s leading independent provider of outsourced tyre management services to fleet operators. The management team has reinvested alongside Caledonia to acquire 100% of the business from investors including Palatine Private Equity. The manager noted that the acquisition […]
In QuotedData’s morning briefing 19 August 2024: RM Infrastructure Income (RMII) has announced its interim results for the six months to 30 June 2024. The company delivered a NAV total return of 2.5% and a share price total return of 9.6%. The company also paid a dividend of 3.5p per share. The manager noted that […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: JLEN Environmental Markets (0:17) Downing Renewables and infrastructure (6:26) This week’s interview was with Ian Lance from Temple Bar Investment Trust – watch it again here.
A lot has been said by some commentators about Great Britain’s 7th placed finish and worst gold medal haul since Athens in 2004 at this year’s Olympics. However, the absolute weighting of golds on the ‘official’ table feels misguided given the often-infinitesimal margins between places on the podium. A total medal count of 65 should […]
Manager Tom Slater explains why resiliency and capital efficiency will be rewarded, and what factors make him optimistic for future growth, with private companies on track to deliver. Capital at risk.
Pershing Square Holdings (PSH) announced its interim report for the year ended 30 June 2024. For the first half of 2024, the company’s NAV total return increased by 5.7% while the share price increased by 14.7% compared to the benchmark index return of 15.3%. During the period, the discount narrowed from 28.7% to 22.7% The […]
In QuotedData’s morning briefing 16 August 2024: Canadian General Investments (CGI) announced its interim report for the six months to 30 June 2024. The company delivered a NAV total return of 13.3%, ahead of the benchmark index return of 6.1%. Shares were up 4.8%. Commenting on the performance and outlook, chair Vanessa Morgan noted: “The […]
JLEN Environmental Assets has signed an agreement for the sale of 51% of a portfolio of six gas-to-grid anaerobic digestion (AD) facilities to Future Biogas. The proceeds of the sale are £68.1m, in line with the valuation as at 30 June 2024. JLEN will continue to own the other 49% of the portfolio, as well […]
In QuotedData’s morning briefing 15 August 2024: Macau Property Opportunities (MPO) has seen a 12.2% slide in its NAV over the quarter ended 30 June 2024. It blames local developers discounting properties to boost their cash flow. It says that it continues to comply with all banking covenants and Loan to Value ratios. Empiric Student […]
In QuotedData’s morning briefing 14 August 2024: Home REIT says that it has reached an agreement with Mansit Housing CIC, a non-performing tenant, for the surrender of its leases on 68 properties. The majority of the properties are occupied by private rented sector tenants on Assured Shorthold Tenancies. This should boost Home REIT’s rental income. […]
Literacy Capital has made a significant minority investment into Campfire, a digital marketing agency based in Manchester. Campfire provides technology and data-led influencer marketing services, with the business’s proprietary trend spotting and prediction tool, Spark, at the core of its service offering. You can see some of its work here. The business has completed 10,000+ […]
In QuotedData’s morning briefing 13 August 2024: Pleasingly, at yesterday’s AGM, NextEnergy Solar Fund’s (NESF) shareholders overwhelmingly backed the company (94:6) to carry on with its existing objective. Syncona’s (SYNC) NAV has slipped again – by 4.9% over the three months ended 30 June. The value of its life science portfolio fell by 8.3% and […]
Impax Environmental Markets (IEM) has released its interim report for the six months to 30 June 2024. The company’s NAV total return was -0.5% while shares fell 2.3%, trailing the benchmark index which delivered a return of 12.2%. The net revenue return for the period was £8.6m, compared with £9.1m earned in the same period […]
Downing Renewables & Infrastructure Trust (DORE) has provided a portfolio update announcing that its Mersey Reactive Power Limited, a UK-based, fully operational 200 MVAr shunt reactor which the company acquired in June 2023, has renegotiated its contract with the National Grid Electricity System Operator to provide additional reactive power to the Merseyside area. The shunt […]
In QuotedData’s morning briefing 12 August 2024: Apax Global Alpha ( APAX) has provided an update on the Apax Funds’ intention to take private technology consultancy, Thoughtworks. As part of the transaction, Apax XI and co-investors will purchase all the outstanding shares in Thoughtworks, whilst Apax IX, alongside related co-investors, will roll its entire stake […]
