City of London’s interim results for the six months ended 31 December 2014 show it generating a total return on net assets of 2.1% and a return to shareholders of 1.6%, better than the FTSE All-Share index which returned -0.4%, the average for its AIC peer group, 1.2%, and the average UK Equity Income OEIC, […]
Utilico Investments has published its interim report covering the final six months of 2014. Over that period the total return on net assets was -2.0% which compares to a return of -0.4% on the FTSE All-Share Index. Within the listed portfolio, Zeta Resources and Resolute Mining fell by 35.2% and 59.0% respectively. This reduced Utilico’s listed portfolio value […]
El Oro has published its interims for the six months that ended on 31 December 2014. The net asset value fell from 95p to 79.7p. Exposure to resource stocks was a significant factor in this. ELX : El Oro net asset value plunges
Brunner Investment Trust has published its results for the year that ended on 30 November 2014. Over the year the fund’s net asset value total return lagged the return on its benchmark by 3.6% (Brunner’s return was 6.0% and 9.6%). The company’s earnings fell too, by 3.3% to 14.7p. By contrast however the full year dividend […]
As James Hart, one of the investment team working on The Cayenne Trust, departs for Witan (see separate story) and Len Gayler, the fund’s chief executive, decides he’d like to relinquish responsibility for the fund in 2016, The Board of The Cayenne Trust has decided that the best course of action is to plan to […]
Witan has announced that James Hart is joining Witan’s management team to work alongside Andrew Bell on “developing, implementing and communicating Witan’s investment strategy”. After graduating from The University of Exeter in 1992, James joined Olliff & Partners, a stockbroker specialising in closed-end funds. In 1996, he joined Bank Julius Baer to develop the bank’s […]
A&J Mucklow has announced interim results for the six months ended 31 December 2014. Over the period its EPRA net asset value rose by 8.9% from 358p to 390p on property revalued upwards by 6.9% (industrial property increased in value by 8.4%; offices by 5.8% and retail property by 3.1%. Occupancy was better, at 94.3% […]
GLI Finance announced its net asset value as at the end of December 2014 today – 51.0p, up from 48.3p as the valuations of its underlying fund platforms rose. It also announced that it is exploring the launch of a fund, an independent investment company which would be managed by GLI and invest in a […]
HICL Infrastructure is paying €3.4m for an 85% stake in the Ecole Centrale Supelec PPP Project (“Project”). The Project reached Financial Close on 16 February 2015 and consists of the design, construction, finance and maintenance of a new facility for the Ecole Centrale Supelec on plateau de Saclay, near Paris, as well as a shared teaching […]
Real Estate Investors is buying 35-37 Great Charles Street, Birmingham for £1.85m. The building is a 24,500 sq ft prime city centre office building nearby to the new Paradise Forum development and at the heart of the new City centre masterplan. The building is part let producing £214,709 p.a. and tenants include National Governors’ Association, Children’s […]
Cambria Africa has asked for trading in its shares to be suspended pending the announcement of its annual accounts. The Company expects to publish its Accounts by the end of May 2015. It was planning to leave AIM and had asked shareholders to approve this at a meeting planned for 18 February. However it has […]
Polo Resources Limited announced yesterday that it has allowed its right to subscribe for a further 51,984,748 Weatherly International Plc ordinary shares at a Subscription Price of 2.925 pence per share to lapse, unexercised and in a separate announcement Weatherly said its shares would be suspended. Weatherly has no clarified its situation saying “that, in accordance […]
Murray Income’s interim figures, covering the second half of 2014, show the fund delivering a return on net assets of -2.9%, behind the return on the FTSE All-Share Index which was -0.4%. The fund’s rating improved however, reflecting a narrowing of the discount from 3.2% to 1.1%, and so the return to shareholders was -0.7%. The run […]
Mid Wynd’s interim results for the six months ended 31 December 2014 returned 11.3% on its net asset value as compared to 7.6% for the company’s benchmark index, the MSCI All Country World Index. The company expanded by just over £4m net as investors responded positively to the company’s new investment approach and manager. The […]
http://www.ftadviser.com/2015/02/09/investments/investment-trusts/performance-fee-days-numbered-0LmrAGYNGXFnEghxaW0txK/article-0.html James Carthew comments on performance fees in an article published by Portfolio Adviser on 9 February Investment trusts that do not use performance fees are imminently set to outnumber those that do, as experts predict the controversial charges are heading for the scrapheap….. ….. James Carthew, research director at investment trust research firm QuotedData, […]
Hammerson has announced results for the year ended 31 December 2014 that show its EPRA net asset value rising from 573p to 638p, an increase of 11.3%. The portfolio total return was 13.6%. Dividends totalled 20.4p up from 19.1p and these are payable from earnings per share up 3.5% from 23.1p to 23.9p. Like for like […]
Bluefield Solar has announced the acquisition of three UK-based, large scale solar plants. The three assets include a 6.5MWp plant in Somerset, a 12.5MWp plant in Wiltshire, and a 29MWp plant in Oxfordshire. They are being acquired for a total consideration of £54m, including transaction costs and working capital. Each is expected to qualify under […]
Land Securities has announced the acquisition of a 1.9 acre site at 21 Moorfields, two ’70s office buildings and a TfL access site for the Crossrail works that occupy the former home of Lazards. land securites has plans for a 510,000 sq ft office scheme which will sit above the entrance to Moorgate station and […]
Riverstone Energy has published results for 2014. At the end of the year the net asset value way $16.31, an increase of 27 cents over the year. Write ups in the value of two investments generated the change in NAV as the other investments were held at cost. the two investments that were written up […]
Scottish American had a bad 2014 as its net asset value total return was 2.9% compared to 11.3% for the FTSE All World Index. The discount widened a little and so the return to shareholders was 1.6%. The dividend for the year was 10.5p which is 2.9% higher than for 2013 and was covered almost […]
BlackRock Throgmorton has published results for the year ended 30 November 2014 that show the company’s net asset value return marginally behind that of the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index; the NAV returned -1.1%, the Index -0.6%. The share price return though was -5.7%, reflecting a widening of BlackRock Throgmorton’s discount. […]
Marwyn Value Investors has announced that the underlying fund that it invests in, Marwyn Value Investors LP, is increasing its stake in Marwyn Management Partners, the owner of Le Chameau. Established in 1927, Le Chameau is a French heritage footwear brand specialising in the production of bespoke, handmade rubber boots. Marwyn Value Investors LP has undertaken […]
Over the year to the end of October 2014 Henderson Opportunities net asset value total return was 3.4%, ahead of its peer group (the AIC UK All Companies Sector) which returned 0.6% and ahead of the FTSE All-Share index which returned 1%. The share price did even better, returning 9.3%. The manager’s report has a […]
British Land announced this morning that it has started work on its development at 4 Kingdom Street in Paddington. The recently re-designed nine storey building will have typical floorplates of 15,000 sq ft, with each floor having a large corner terrace and a glass pod designed as a creative meeting space. The core of the […]
Kennedy Wilson Europe Real Estate is effectively paying €45m to acquire Gardner House, Wilton Street, Dublin. They had exposure to this asset beforehand in the form of two loans secured by a mortgage over the property. They have agreed with the borrower that the fund will take title to the property in exchange for the forgiveness of […]
Standard Life investments Property Income Trust intends to raise £16m from investors to fund the acquisition of a modern freehold retail warehouse property, located in Preston, for £16m (excluding costs). At the acquisition price, the warehouse generates a yield of 7% with 16 years remaining on the lease. It is located adjacent to a major foodstore and […]
Electra Private Equity has published the results of the review of the company’s structure that was promised after it defeated Sherborne’s proposals. The plan is to cut the management fee from 1.5% to 1%, leave the performance incentives intact and remove all the currency hedging – which will effectively reduce Electra’s cash pile and cut its […]
Derwent London has announced a deal with LaSalle Investment Management where it is swapping 22 Kingsway WC2, Mark Square House EC2, and a 50% interest in a new joint venture at 9 and 16 Prescot Street E1 for a minimum 175-year long leasehold of 20 Farringdon Road, Clerkenwell EC1 and £27.3m in cash. 20 Farringdon Road […]
Secure Property Development & Investment is planning an issue of up to 29,719,890 new ordinary shares at 25p by way of an open offer to shareholders. The open offer shares are available on the basis of 1 new shares for every 1.14 existing shares held but shareholders can apply for more than that if they wish (up […]
Ottoman Fund has announced that BDO LLP has finished a forensic review of the books and records of Ottoman’s Turkish subsidiaries and has determined that the Company’s former Chief Financial Officer in Turkey has removed from the Company’s Turkish subsidiaries the net amount in Turkish Lira equivalent to US$1.35 million as of 10 February 2015 […]
