The proposed and recommended merger of abrdn Property Income Trust (API) and Custodian Property Income REIT (CREI) is off after not receiving enough support from shareholders. Just over 60% of votes cast were in favour of the merger, below the 75% threshold to sanction the deal. The API board will now take steps to implement […]
BioPharma Credit (BPCR) announced its annual results for the year ended 31 December 2023. The company saw NAV growth of 1.5% over the period while maintaining its record of paying a dividend of at least 1.75 cents per share every quarter since that quarter ending 30 June 2018. Three dividends paid during the year totalled 7.25 cents per share, […]
The Aurora Investment Trust (ARR) announced its annual results for the year ended 31 December 2023. Performance for the year was very positive, with a NAV total return of 36.3%, well ahead of the benchmark UK index return of 7.9%. The share price return was 28.5%. The portfolio saw strong performance across the board with […]
JPMorgan American (JAM) announced its annual results for the period end 31 December 2024. The company generated a NAV total return of 24.7% in 2023 compared with 18.9% for its benchmark Index. Its share price total return was +26.6%. Since the change in investment approach on 1st June 2019 to the end of February 2024, […]
abrdn Asian Income Fund (AAIF) announced its annual results for the year ended 31 December 2023. The company saw a NAV total return of 2.5%, slightly ahead of the MSCI AC Asia Pacific ex Japan Index total return index which returned 1.6%. Shares rose 1.9%, with the discounting widening to 14% at the time of […]
Sirius Real Estate has acquired Vantage Point Business Village, a multi-let business park in Gloucestershire, for £48.25m (€56.4m), representing a net initial yield at acquisition of 10.2%. The acquisition was made using the proceeds of the company’s £147m capital raise in November 2023. The company has bought four assets so far this year, following the […]
BlackRock Latin American Investment Trust (BRLA) announced its annual results for the year ended 31 December 2023. The company’s NAV was up 37.8% in US Dollar terms, which compares to the benchmark returns with dividends reinvested of 32.7%. The share price rose by 35.3% in US Dollar terms (but increased by 27.6% in sterling terms). […]
The Fidelity Japan Trust (FJV) has announced its annual results for the year ended 31 December 2023. During the year the trust reported a net asset value (NAV) return of +12.2%, whilst the reference Index, the TOPIX Total Return Index, returned 13.3%. Over the same period, the ordinary share price total return was +12.3%. Commenting […]
In QuotedData’s morning briefing 27 March 2024: Life Science REIT (LABS) has leased 7,497 sq ft of space at the Innovation Quarter at Oxford Technology Park to Coldquanta UK Limited, which is part of Infleqtion, a global quantum technology company. The lease will complete once the laboratory fitout works are complete. ColdQuanta will pay an […]
Petershill Partners (PHLL) has announced its annual results for the year ended 31 December 2023. The company, which follows a unique M&A strategy, raised $23 billion of fee eligible assets, although notably earnings were down on the year prior given lower transaction activity. Highlights for the year included: Adjusted profit after tax of $200m for […]
Infrastructure India (IIP) announced its annual results for the 12 months ended 31 March 2023. The company has been selling off assets over the period, with the value of these now standing at £99.1m, down 40% from the same time last year. Net liabilities were £184.9m as at 31 March 2023. The group had gross […]
In QuotedData’s morning briefing 26 March 2024: JPMorgan Emerging EMEA Securities (JEMA) has announced that manager Pandora Omaset is pursuing other opportunities external to JPMorgan. Oleg Biryulyov continues to be the company’s investment manager supported by JPMorgan Asset Management’s investment management team and the investment process for the company’s portfolio management will remain unchanged. Ashoka […]
Life Science REIT has rebased its dividend as the macroeconomic environment remains challenging. The company paid a dividend of 4p in 2022 – its first full year, but has reduced this to 2p for 2023. The company said: “With macroeconomic uncertainty continuing and interest rates now expected to remain elevated for some time, the board […]
Regional REIT reported a particularly difficult 2023 with several headwinds contributing to a 23.3% drop in net asset value (NAV) to 56.4p per share. The office landlord’s portfolio valuation fell 9.3% on a like-for-like basis to £700.7m, as high interest rates impacted on the portfolio yield. Rent roll for the year was also down, from […]
Golden Prospect Precious Metals (GPM) has released its annual results for the 12 months ending 31 December 2023. Over the 12 month period GPM’s net assets fell from £30.6m to £32.0m. This was primarily due to a fall in the fair value of its investments, with GPM reporting a £0.5m loss over 2023. Despite this […]
Octopus Renewables Infrastructure Trust (ORIT) has released its results for the 12 month period ending 31 December 2023. Over those 12 months ORIT generated a NAV total return of 2.1%, and a negative share price total return of (4.4%) due to its widening discount. ORIT’s total NAV decreased from £618m to £599m during the year, […]
Pershing Square Holdings has published results for the year ended 31 December 2023 and they are good. The NAV return for the year was 26.7% and the share price return 36.0%, outperforming the S&P500 which returned 26.3%. The performance was driven by the underlying portfolio. The portfolio hedges detracted from returns in 2023 but have […]
Princess Private Equity Holding (PEY) has released its annual results for its financial year ending 31 December 2023. Over these 12 months PEY reported a NAV total return of 1.8%, finishing the year on a NAV per share of €14.16, while also reporting a share price total return of 32.6%. PEY’s NAV was driven primarily […]
Baillie Gifford Shin Nippon has published its accounts covering the 12 months ended 31 January 2024 and the figures do not make good reading. Over the year, the NAV declined by 14.9% and the share price by 20.5%. The MSCI Japan Small Cap Index rose by 6.3%. Over five years, the index was up 24.1% while […]
US Solar Fund has announced results for the year ended 31 December 2023. The company’s NAV fell sharply over the year from 96 cents to 78 cents (roughly a 20% fall). You might have thought that the biggest negative impact on the results would have been the increase in interest rates feeding through into a […]
Impact Healthcare REIT reported net asset value (NAV) uplift of 4.7% to 115.38p per share in annual results to 31 December 2023. The care home landlord’s portfolio grew in value by 4.1% over the year helped by strong rental growth. With a net increase of five homes taking the total portfolio to 140 properties and […]
Digital 9 Infrastructure (DGI9) has announced that it intends to serve a notice of termination to its current investment managers, Triple Point Investment Management, subject to the required consents. The board expects the termination to take effect on 31 March 2025. The board has chosen Liberum Capital as its financial adviser, in order to aid […]
In QuotedData’s morning briefing 25 March 2024: Literacy Capital (BOOK) has announced a new investment in the Live Business Group, a leading international entertainment supplier to the travel, tourism and leisure industry. BOOK has taken what it describes as a significant minority stake in the London-based firm, with the actual terms being undisclosed. BOOK’s investment […]
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • abrdn Property Income (0:34) • Hipgnosis (3:24) • Scottish Mortgage (5:18) • Witan (8:32) In today’s show, James discussed the merits of the bid for abrdn […]
Scottish Mortgage (SMT), Baillie Gifford’s flagship investment trust and the largest trust in the investment companies sector, has announced that Elliott Associates, the US activist hedge fund, has acquired a 5% stake in the trust. The announcement, which came out last night after the market had closed, revealed that Elliott has bought nearly 0.5% of […]
Supermarket Income REIT’s manager has made amendments to its investment advisory agreement to protect itself in the event of a takeover. In the event of a takeover, delisting or liquidation, Atrato Capital would be paid fees that would have been due over the existing rolling two-year written notice period. We have not heard any rumours […]
Dunedin Enterprise (DNE) has announced its annual results for the year ended 31 December 2023, during which it provided NAV and share price total returns of 3.6% and 8.6% respectively, and finished the year trading at a share price discount to NAV of 18.3%. In May 2016, shareholders approved a managed wind down of the […]
In QuotedData’s morning briefing 22 March 2024: BlackRock Greater Europe (BRGE) is not going implement its semi-annual tender offer in May 2024. Over the six months to 29 February 2024, the average discount to net asset value (cum income) (NAV) was 6.3%. However, as the discount to NAV on a cum income basis (diluted for […]
The Boards of Tritax Big Box REIT (BBOX) and UK Commercial Property REIT (UKCM) have reached agreement on the terms of a recommended all-share merger. Under the terms, each UKCM shareholder will be entitled to receive 0.444 new BBOX shares for each UKCM share. The exchange ratio is on an EPRA NTA for EPRA NTA […]
JPMorgan Claverhouse has published its results for 2023. Its returns came in just behind those of the All-Share Index, returning 7.3% in NAV terms to the index’s 7.9%. A widening discount left shareholders with a return of 2.9%. The dividend was increased (the 51st year in a row where this has happened!) to 34.5p from […]
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