Dunedin Income & Growth outperformed the FTSE All-Share Index by 4% over the year that ended on 31 January 2015, over the period the fund’s net asset value total return was 11.1% vs. 7.1% for the Index. The return to shareholders was just 6.8% however as the shares moved from trading on a 1.6% premium […]
Aberdeen Asian Smaller Companies has announced interim figures covering the six months ended on 31 January 2015. The total return on net assets was 5.9% in the six months to 31 January 2015. By comparison, the MSCI AC Asia Pacific ex Japan Index and MSCI AC Asia Pacific ex Japan Small Cap Index total returns […]
Vietnam Infrastructure’s interim results for the six months ended 31 December 2014 have just been published. Over that period the fund’s net asset value fell from 61 cents a share to 60 cents. Towards the end of the period, shareholders approved plans to restructure the fund but the regulatory approval of this has been delayed […]
Empiric Student Property has announced the acquisition of St Mark’s Court in Leeds. This property, which was completed in 2009, is a high-quality, modern purpose-built student accommodation scheme comprising 85 large self-contained studios with communal facilities and secure parking spaces. Empiric’s Board believes that there is scope to extract further value through asset management, including a […]
Camper & Nicholsons Marinas Limited, has signed an agreement with its landside partner, Westcourt Real Estate (Europe) Ltd and the Homes and Communities Agency to permit the development of Victoria Quay, a landside and seaside development which includes a new 400 berth marina, at East Cowes, Isle of Wight. The agreement is subject to the satisfaction […]
Starwood European Real Estate Finance has announced results for the year ended 31 December 2014 that show a small increase in its net asset value from 99.13p to 100.08p but a much larger increase in its share price from 100.75p to 106.25p. Dividends per share were 5.8p, to give a total return on net assets […]
GLI Finance has increased its stake in Trade River Finance from 9% to 43.9% and taken its interest in Trade River’s preference shares up to 100% by offering to swap shares in Trade River for shares and zeros issued by GLI Finance. A number of shareholders took up the offer and 6.2m new GLI shares have […]
Town Centre Securities has announced the acquisition of Units 2, 3 and 6 Waterside Business Park, a multi-let industrial estate in Stourton, Leeds from clients of CBRE Investors. The three units were purchased for a total of £4.48m, reflecting a net initial yield of 7.25%. Tenants include SW Group Logistics limited, European Stock Solutions Limited […]
Over the six months that ended on 31 January 2015, Fidelity Asian Values outperformed its benchmark, generating a return on net assets of 9.2% as compared to 8.2% for the MSCI AC Far East ex Japan Index. Shareholders did even better than this though as the discount narrowed from 12.5% to 11.3%, giving them a total return of […]
NextEnergy Solar is paying up to £17.8m to acquire a 16.5 MWp solar plant at Croydon in Cambridgeshire. The plant was connected to the grid on 2 March 2015 and so will qualify for the 1.4 ROC subsidy regime. The plant was constructed under an Engineering, Procurement and Construction contract negotiated by NESF’s investment advisor, […]
BBGI has announced results for calendar year 2014, reporting a 3.5% increase in net asset value to 109.2p. The dividend for the year was 5.76p, a 4.7% increase on the 2013 figure. The combination of this and the fund’s premium meant that the total return to shareholders was 10.8% for the year. The average discount […]
F&C Private Equity has published results for the year ended 31 December 2014. The total return to shareholders over this period was 10.3%. This was made up of a net asset value total return of 7.3% and a narrowing of the fund’s discount. They are paying dividends totalling 10.84p for the year which puts the […]
The Board of Monks has announced changes to the management of that fund. Gerald Smith is being replaced by Charles Plowden and he will be assisted by Spencer Adair and Malcolm MacColl as new deputy managers. The announcement says the change takes place with immediate effect. The Trust will now be managed from Baillie Gifford’s […]
DW Catalyst Fund Limited (the former BH Credit Catalysts) has reported results for the year that ended on 31 December 2014. Over the year the net asset value of the US dollar shares rose by 5.4% and the Sterling shares rose by 5.5%. DW Partners took on responsibility for the fund on 1 January 2015 […]
International Public Partnerships has mapped out its planed dividend increases for the next couple of years as it reports its final results for the year ended 31 December 2014. The full year dividend for 2014 was 6.3p, up from 6.15p in 2013. The Board says the minimum target for 2015 is 6.45p and for 2016 […]
GLI Finance (where the author is a non-executive director) has announced its results for 2014. Over the year GLI’s net asset value rose from 50p to 51p. Revenues were depressed by the sale of the fund’s CLO portfolio to Fair Oaks Income Fund in the middle of last year (Fair Oaks didn’t pay its first […]
Baillie Gifford Japan’s interim results, which cover the six months ended 28 February 2015, are pretty good. The net asset value total return was 20.5% over this period – 8.2% more than the return on the TOPIX. Stock selection was the major factor behind the outperformance. The statement highlights Baillie Giford Japan’s “active share” figure of 87%. […]
Highcroft Investments has published results for the year ended 31 December 2014. Over the year the fund’s net asset value rose by 12% to 923p. Gross property rental income rose by 13% to £3.1m, underpinning a 36p distribution to shareholders, up from 33.75p for 2013. The rental income increase was fuelled by the acquisitions they […]
The Board of BlackRock Throgmorton Trust plc has been advised by BlackRock Investment Management (UK) Limited that Ralph Cox, the lead portfolio manager for its Contracts for Difference (CFD) portfolio, has decided to take an extended career break and has resigned from BlackRock. The Board is pleased to announce that, with immediate effect, Dan Whitestone […]
BH Macro has published figures for 2014. They say the environment for their macro-trading strategies got more favourable towards the end of the year but this just offset poor performance earlier in the year and the return on net assets for 2014 as a whole turned out to be 0.26%. The Chairman’s statement says the weaker […]
TwentyFour Asset Management LLP, managers of TwentyFour Income Fund and TwentyFour Select Monthly Income, has announced that Vontobel is taking a 60% stake in it. “Vontobel will acquire a 60% shareholding in TwentyFour, with the working partners retaining a 40% stake in the business. The partners remain fully committed to TwentyFour with long-term lock-ins. The Investment Manager will […]
Final results for The North American Income Trust for the year that ended 31 January 2014 show the fund delivering an 18.9% return on net assets, which isn’t bad but does lag the 25.0% return on the S&P500 Index by some margin. The fund’s discount widened from 5% to 7.9% over the year and so […]
DP Aircraft One, which owns two Dreamliners (Boeing 787s) that are leased to Norwegian Air Shuttle, has announced its first set of results covering the period from 5 July 2013 (when it was incorporated), through its launch in October 2013 and up to the 31 December 2014. The net asset value at the end of the period […]
Brevan Howard Global reports net asset value growth of 2.5% for the US dollar share class and 2.1% for the Sterling share class. The Chairman makes the point that “An investment in the shares of BH Global is intended to be a portfolio diversifier that is only modestly correlated with equity markets and is subject […]
John Laing Infrastructure’s results for the period ended 31 December 2014 have been published. Its net asset value rose by 2.3% to 109.3p. A combination of dividends and a rising premium helped push the total shareholder return up to 12.6%. They increased the final dividend by 3.85% to 3.375p making a total dividend of 6.625p for the […]
Trading Emissions has drawn up its accounts under IFRS10 for the first time and has restated its figures for previous years accordingly. On the new basis, its net asset value fell from 15.2p to 15.1p over the second half of 2014. The fall is largely down to increased provisions for legal expenses. The Chinese counterparties to […]
