News

Cordiant Digital Infrastructure says that its portfolio company, Emitel S.A. has bought American Tower Corporation’s subsidiary in Poland, ATC Polska. ATC Polska’s portfolio will comprise of 65 modern lattice towers which are leased to leading mobile network operator (MNO) tenants via inflation-linked contracts with long tenors (average 14 years remaining on tenant lease agreements). The […]

CT UK High Income Trust says that for the year ended 31 March 2023 it generated an NAV return of -0.4%, underperforming its All-Share benchmark which returned +2.9%. The return to ordinary shareholders was +0.6% and to B shareholders +2.3%. Total dividends increased by 1.1% to 5.51p, representing the tenth consecutive year of dividend/capital repayment […]

In QuotedData’s morning briefing 1 June 2023: ICG Enterprise (ICGT) has agreed a new €240m multicurrency revolving credit facility with SMC International and Lloyds Bank that matures on 30 May 2027 and costs 120 basis points (bps, equal to 1.2%) upfront, 115bps on undrawn amounts and 300bps over euro or sterling interest rate benchmarks (EURIBOR […]

Odyssean Investment Trust (OIT) announced its annual results for the year ended 31 March 2023. NAV per share fell 2.2% while shares fell 1.2% over the 12 month period, comfortably outperforming the benchmark Numis Smaller Companies Index ex IC plus AIM Total Return Index which fell 13.4%. Shares in the company continue to trade at […]

Taylor Maritime Investments (TMI/TMIP) Limited announced the appointment of Henry Strutt as non-executive chair of the company with effect from 1 June 2023. Strutt brings extensive financial services experience from his time spent in senior positions at several financial institutions, including Robert Fleming Group of Companies, Smith & Williamson, and Harrods Bank. He also has […]

Home REIT has announced an update on its internal investigation into allegations of wrongdoing including matters raised in the Viceroy Research report. As announced on 16 February 2023, the company instructed Alvarez & Marsal Disputes and Investigations (A&M), as independent forensic accountants to conduct an investigation. A&M delivered to Home REIT a detailed report prepared […]

Jade Road Investments Limited (JADE) (formerly Adamas Finance Asia Limited) has published its final results for the year ended 31 December 2022. The company’s main focus for the year was to pivot from its legacy portfolio of Asian assets to investing in geographically diverse assets in more stable regions. The headline numbers were poor with […]

The Edinburgh Investment Trust (EDIN) announced its annual results for the period ending 31 March 2023. Net Asset Value (NAV) per share (with debt at fair value) on a total return basis increased by 7.9%, comfortably exceeding the 2.9% return on the FTSE All-Share Index. The share price total return was 8.4%. Dividends for the […]

JPMorgan China Growth & Income (JCGI) announced its half year report for the year ended 31 March 2023. During this period, JCGI delivered a total return on net assets of 7.9% (in sterling terms), compared to the benchmark return of 7.3%. This positive performance follows a challenging time for the company in the last financial […]

HarbourVest Global Private Equity (HVPE) has released the annual results for its financial year ending 31 January 2023. HVPE reported a 12 month NAV total return of -1.2%, compared to the -7.3% return of the FTSE All-World Index. HVPE’s positive returns from infrastructure and real assets, credit, and small to mid-cap buyouts were more than […]

UK Commercial Property REIT has sold its 186,455 sq ft Wembley180 logistics asset in London for £74m, which reflects a net initial yield of 3.49% and is broadly in line with the 31 March 2023 valuation. The buyer was Covent Garden IP Limited, a registered charitable company that supports The Church of Jesus Christ of Latter-day […]

Funds managed by Marwyn Investment Management LLP have made an investment of £8m in Palmer Street Limited. £6.2m of this is coming from the listed fund. Palmer is being set up to take advantage of the opportunity to provide a differentiated business proposition in the private capital servicing sector. Palmer’s management team: Martin Schnaier, James […]

Shires Income reports that for the year ended 31 March 2023, it generated an NAV total return of -2.2% and a share price return of -5.5% (as the shares moved from a 0.3% premium to a 3.1% discount), which compares with a +2.9% return for its benchmark. The dividend was upped by 2.9% to 14.2p, […]

The board of Momentum Multi-Asset Value Trust has decided that the fund is too small to be viable and is proposing that it be liquidated and investors given the option of rolling into the manager’s equivalent open-ended fund. Recent market challenges and share buy backs through the operation of the discount control mechanism have seen […]

In QuotedData’s morning briefing 25 May 2023: Gresham House Energy Storage (GRID) raised £50m from its placing and retail offer. Less than its £80m target but not a bad result in the current environment. 32,154,341 shares will be issued at a price of 155.5p. 30,584,387 of these shares will be issued via the placing and […]

HICL Infrastructure (HICL) has announced its annual results for the year ended 31 March 2023. The chair, Mike Bane, describes the financial performance in the year as being resilient, with NAV growth of 1.8p per share to 164.9p. The return from the portfolio was 10.2% (March 2022: 9.6%), outperforming the company’s expected return of 6.6% […]

Capital Gearing (CGT) has published its annual results for the year ended 31 March 2023, which its chairman, Jean Matterson, describes as a difficult year for the trust and traded markets generally (however, she notes that it is only the second year in the last 41 years, when CGT has failed to achieve a positive […]

LondonMetric and CT Property Trust (CTPT) have reached agreement on the terms of a recommended all-share offer that will see LondonMetric acquire the entire share capital of CTPT. Under the terms of the acquisition, CTPT shareholders will receive 0.455 new LondonMetric shares per share. On the basis of the closing price of LondonMetric of 188.0 […]

In QuotedData’s morning briefing 24 May 2023: Weiss Korea Opportunities Fund (WKOF) has announced that, due to the very limited number of elections received for the realisation opportunity (the results of which were announced on 10 May 2023), all of the realisation shares will be compulsory redeemed utilising WKOF’s existing cash reserves. The redemption price […]

Caledonia Investments has published results for the year ended 31 March 2023. Over the period, the company generated an NAV total return of 5.5%, which compares to a 2.9% return on the All-Share Index. The dividend was increased by 4% to 67.4p. The chair’s statement makes no mention of the trust’s share price or discount […]

Home REIT has appointed AEW as its new manager as the company looks to turn around its fortunes after a series of damaging revelations involving malpractice and allegations of fraudulent activity. The board has entered into an agreement with AEW UK Investment Management LLP under which, effective immediately, AEW will act as the company’s property […]

The following statement was published by RM Infrastructure Income today: Although RMII is well positioned from an investment perspective, the company’s shares, in common with many investment companies, have traded at a discount over a period of time. This, coupled with the company being of a small scale, has created challenges in generating improved liquidity in […]

In QuotedData’s morning briefing 23 May 2023: Harmony Energy Impact’s (HEIT) NAV was 6.7% lower at end April (117.1p, down from 125.5p at end January) after it cut the power price forecasts used in its NAV calculation. Aberforth Smaller Companies (ASL) has renewed its £130m revolving credit facility with The Royal Bank of Scotland International […]

In Alliance Trust’s latest manager interview, Brian Kersmanc and Andrew Wellington share their views on the most important drivers of stock returns and to what extent the macro influences their investment decisions. Filmed: April 2023  

Cordiant Digital Infrastructure Limited (CORD), an operationally focused investor in the core digital infrastructure that enables modern communications and the internet, announced that the portfolio company, České Radiokomunikace has signed customer agreements to broadcast three new channels. The team at Cordiant Capital Inc, CORD’s investment manager, supported CRA in the signing of these exciting new revenue-generating […]