Hansteen’s results for the year ended 31 December 2014 show a 12.1% increase in its EPRA Net asset value and a 4% increase in its EPRA earnings per share. They have increased the full year dividend from 4.8p to 5p and, in addition, are paying a special dividend of 3p per share. This brings the […]
Alliance Trust’s results for 2014 show its net asset value rising by 5.8%. the annual dividend was increased to 12.438p, 14.3% up year on year, and this helped push the fund’s total return on net assets to 8.1%. The share price return was 9%. Unfortunately this is somewhat behind the 11.2% return generated on the […]
Athelney Trust’s results for the year ended 31 December 2014 show its net asset value rising by 4% to 228p. The dividend is being increased by 21.8% from 5.5p to 6.7p. The total return was 6.5% – ahead of the 6.2% return on the Fledgling Index and well ahead of the -1.5% return on the […]
Industrial Multi Property Trust’s results for the year ended 31 December 2014 show its net asset value (on an adjusted basis) increasing from 207p to 220p (the unadjusted net asset value rose from 206.8p to 210.3p). They aren’t paying a dividend. Industrial Multi Property Trust has fifty-three multi let properties (split roughly 85% industrial and […]
Picton Property is paying £14.65m for a retail park in Gloucester. Gloucester Retail Park, on Eastern Avenue, has four units totalling 112,000 sq ft of space let to B&M Bargains, Carpetright, The Range and AHF with a weighted average lease life of 13.2 years. It generates rents of £1.067m, equivalent to a rent per sq […]
European Assets’ results for the year ended 31 December 2014 show that the fund had a great year. the net asset value total return was 7.7%, the share price return was 8.8% and the dividend was increased by 8.5% in Euro terms, on top of a 27% increase in 2013. By contrast the return on the […]
Allianz Technology Trust failed to match the return on its benchmark, the Dow Jones World Technology Index, over the year to the end of November 2014. Over the year the fund delivered a return of 18% vs. the Index’s 27.3%. To compound the problem, the discount widened from 0.45 to 5.8% and so the return to […]
UK Commercial Property has two debt facilities. One of £80m, provided by Lloyds Bank, expires in June 2015 and the other of £150m, Provided by Barclays Bank, expires in May 2018. the company wants to refinance the Lloyds loan and has found a new lender that is prepared to lend it money for 12 years. Interest is […]
Over the six months ended 31 January 2015, Pacific Horizon’s net asset value per share rose 7.9% to 216.74p. The share price rose 12.5% and the discount narrowed from 11.5% to 7.7%. Over the same period the MSCI All Country Asia ex Japan Index rose 8.5% in sterling terms. The manager has been increasing the […]
Aberdeen Smaller Companies High Income has announced results for the year ended 31 December 2014. The total return on net assets for the period was -2.1% which compares favourably to the return on the FTSE Smaller companies Index of -2.7%. However the return to shareholders was -14.9%, reflecting a widening of ASCH’s discount from 5.7% […]
GLI Finance has sold its entire stake in Fair Oaks Income Fund (34,298,425 shares) to a fund advised by Coller Capital. GLI Finance was a founder shareholder in Fair Oaks Income. Its shares were received in exchange for the injection of GLI Finance’s CLO investments into Fair Oaks’ portfolio. With this deal, GLI Finance finally […]
NB Distressed Debt Investment Fund Limited has announced that senior analysts, Brendan McDermott and Ravi Soni, have been promoted to co-portfolio managers for distressed debt, effective immediately. Mr. McDermott and Mr. Soni report to Michael Holmberg, Senior Portfolio Manager and head of Neuberger Berman’s distressed debt business. At the same time they’ve announced that, Patrick Flynn, co-portfolio […]
Foreign & Colonial had a good 2014 but returns were below those of the FTSE All World Index. The total return on net assets was 10.3%, comprising a 7.9% uplift in the NAV and a 9.3p dividend, up 3.3% on the previous year. The index returned 11.3%. The return to shareholders was 13.5%. Over the first […]
Foresight Solar results for the year ended 31 December 2014 have been released. The net asset value at the end of December was 100.9p – up from 98p post flotation of the company. Two interim dividends of 3p were declared for the year. The fund is now switching to paying quarterly dividends. These will rise […]
QuotedData, explains why this research resource was set up, and how it can help investors. The objective here is to provide research that is “clear, concise and understandable”, and QuotedData offers basic information for those new to investing, as well as more advanced coverage of the sector for seasoned investors. http://www.theaic.co.uk/aic/news/commentary/information-not-advice-or-a-hard-sell?dm_i=OVU,37U6V,7IMTJG,BISUD,1
Advance Frontier Markets Fund outperformed a falling benchmark (the MSCI Frontier Markets Index) over the six months ended 31 December 2014 – falling by 9.2% vs. -11.1%. The share price fell by 13.6% however as the fund’s discount shifted from 6.6% to 11.2%. The managers’ report says funds including Africa Emerging Markets Fund, Ashmore Middle […]
In its interim results statement, The Investment Company reported a small fall in its net asset value over the second half of 2014 of 1.6% to 388p. The company was making distributions equivalent to 6% of its asset value each year. The Board has decided that this isn’t sustainable in the current market environment and […]
AXA Property Trust has reported a return on net assets of 3.6% for the second half of 2014 as the NAV rose from 54.5p to 56.5p. They say that two more sales of properties in the portfolio are close to being agreed. If they can get these done, a further capital distribution may be possible […]
Over the second half of 2014 JPMorgan Global Convertibles Income generated a negative return on net assets of -4.8%. The return to shareholders was -5.8%. Two quarterly interim dividends of 1.125p have been declared so far. The target is to pay 4.5p for the year as a whole. Discussing the performance, the investment manager mentions energy […]
British Land has announced that it is paying £135m for Surrey Quays Leisure Park – the seller is Aviva Investors. When combined with Surrey Quays Shopping Centre and Harmsworth Quays, the former Daily Mail General Trust printing works, British Land has now assembled a 50 acre site close to Canada Water and Surrey Quays stations that it […]
Custodian REIT has added to its portfolio, paying £2.465m for a 17,384 sq ft, four storey office building in Glasgow city centre, with excellent transport links to junction 19 of the M8, Central and Queen Street train stations and Buchanan Street underground station. The property is let to four tenants with lease expiries between 30 […]
Altin’s Board is planning to reduce the capital of the company by buying back up to 10% (382,386 shares) by issuing tradable put options to the share-holders. Every shareholder will receive one put option per Altin share held, free of charge. Ten put options entitle the holder to offer one Altin share to Altin for […]
Over 2014, intu Properties net asset value rose from 346p to 379p, an increase of 9.5%. this was achieved on the back of an increase in their underlying property value of 8.2% which was ahead of the return on the equivalent IPD index of 7.3%. The weighted average equivalent yield on their properties fell from […]
Bluefield Solar Income Fund has announced its interim results for the six months ended 31 December 2014. Over the period the fund expanded by £131m through a placing of new shares but the fund’s net asset value per share fell from 102.96p to 101.34p. They paid an interim dividend of 3.25p during the period and say […]
Macau Property Opportunities results for the six months ended 31 December 2014 have been published. Over the period the fund’s net asset value fell by 3.6% to $4.71 on property valuations down 2.1% to $547.6m (on an IFRS basis, where assets held for sale are valued at the lower of cost and net realisable value, the […]
RIT Capital Partners results for 2014 show the company generating a return on net assets of 9.5% and a return to shareholders of 13.3% as the discount narrowed from 9% to 5.8%. They are keen to stress that the performance has been achieved with a relatively low average exposure to equities of 56% over the year. The […]
Pantheon International Participations’ interim figures, covering the second half of 2014, are pretty good. The net asset value rose by 11% and the share price by 10% (over a time when the FTSE All-Share didn’t deliver much of a return and the MSCI World returned 9.7%). The net asset value is now just shy of £1bn […]
Candover’s results for 2014 show a 24% fall in its net asset value from 715p to 545p almost all of which was down to a £35.2m fall in the value of their holding in Expro International (the consequence of the effect of the fall in the oil price on valuations of other oil service companies), […]
City Natural Resources’ net asset value fell by 19.3% to 125.9p over the course of 2014. By contrast their benchmark index (a composite of 2/3 the Euromoney Global Mining Index and 1/3 the Credit Suisse High Yield Index) fell by 9.7% (with the mining index falling by 15.5% and the high yield index rising by 5.7%). […]
SQN Asset Finance Income has published its first set of figures since listing in the middle of last year. by the end of December 2014 the fund had invested about half the £150m it raised in July 2014 in 22 investments. The net asset value at the end of the year was 98.92p and the […]
