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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

28 Apr 2023
Life Settlement Assets B shares : LSAB

Life Settlement Assets’ board mulling options to reduce the discount

Life Settlement Assets (LSAA) has announced its results for the year ended 31 December 2022. LSAA’s Board says that, now the MBC litigation is complete, it is actively considering further options to reduce this discount, which will be communicated to Shareholders in due course. Key highlights from the results are as follows: Finalisation of MBC […]

Sectors
28 Apr 2023
230124 morning

QuotedData’s morning briefing 28 April 2023

In QuotedData’s morning briefing 28 April 2023: Industrials REIT (MLI), which has agreed a £500m sale of the company, released a trading update for the first quarter of 2023 showing a 4.8% like-for-like growth in passing rents and 10.6% growth in estimated rental values (ERV) over the 12 month period. During the quarter it concluded […]

Sectors
27 Apr 2023

Downing Renewables buys UK solar assets from Gresham House VCTs

Downing Renewables & Infrastructure is buying a portfolio of operational solar PV assets located in the UK for £12.6m in cash. The 13.0 MWp portfolio of two ground-mounted sites and approximately 1,600 commercial and residential installations benefits from high levels of feed-in tariffs and renewable obligation certificate subsidies. The vendors are the two Gresham House […]

27 Apr 2023

NextEnergy accelerates growth with sale of subsidy-free solar portfolio

NextEnergy Solar Fund is to recycle the capital invested in its subsidy-free solar assets, redeploying the cash to cut borrowing, invest in new projects and buy back shares. It aims to crystallise the value that it has created within its 236MW portfolio of subsidy-free UK solar assets. The proceeds will be used to: reduce gearing: […]

27 Apr 2023
230126 book

QuotedData’s morning briefing 27 April 2023

In QuotedData’s morning briefing 27 April 2023: Literacy Capital (BOOK) says its 31 March 2023 NAV was 467.3p, up 11.1% over the first three months of the year from 420.6p at the end of December. RCI (+£18.6m) was again the most significant contributor in the quarter, driven by strong organic growth. Kernel Global added £8.4m […]

Companies
26 Apr 2023
190718 - oakley capital

Trading update for Oakley Capital

Oakley Capital Investments announced its quarterly trading update for the three months ended 31 March 2023. Total NAV return per share for the period, including dividends, was +1.25% while total shareholder returns were 9%. The company also made £27 million in new investments. The update noted that the increase in the portfolio reflects a cautious […]

26 Apr 2023
TPOU

Third Point Investors wraps up poor year

Third Point Investors Limited (TPOU) announced its annual results for the year ended December 2022. The company returned -24.4% on a NAV total return basis and -25.5% on a share price basis. This compares with a -17.7% return for the MSCI World Index and a -18.1% return for the S&P 500 Index. Despite the poor […]

Sectors
26 Apr 2023
MGCI

Down year but returns still solid for M&G Credit Income

M&G Credit Income Investment Trust announced its annual results for the year ended 31 December 2022. NAV fell 1.7% for the year, falling short of the 5.5% benchmark return. While management acknowledged the disappointing result, they did note that it was the first year of underperformance since the IPO in 2018. The annual report noted: […]

Sectors
26 Apr 2023

CT Property Trust provides further evidence of price stability

In a NAV update for the first quarter of the year, CT Property Trust posted a 1.3% uplift to 96.6p per share – further evidence of a stability of real estate prices following a rapid decline in the second half of 2022. Last week MSCI data showed that month-on-month property values in the UK were […]

Sectors
26 Apr 2023

Solid performance in tough year for RM Infrastructure Income

RM Infrastructure Income (RMII) announced its annual results for the year-end December 2022. Including dividends, the company achieved NAV growth of 5%, while shares grew 3.7%, following on from its impressive performance through 2021 which saw NAV and share price growth of 7.6% and 16,7% respectively. While there is no mention of a benchmark in […]

Sectors
26 Apr 2023

Strong year despite discount for Aquila European Renewables

Aquila European Renewables (AERI) announced its annual results for the year-end December 2022. The company added +184.7 MW of operating capacity during the year, an increase of 80.7%. NAV increased 12.7%, the largest growth since IPO while revenue came in 20.4% ahead of expectations thanks to favourable energy pricing during the period. The results cap […]

26 Apr 2023
a green coffee cup sitting on a book

QuotedData’s morning briefing 26 April 2023

RTW Venture Fund Limited announced that Abdera Therapeutics has completed its $142M Series A and Series B financing rounds in which it participated. Abdera is a privately held pre-clinical stage biopharmaceutical company leveraging antibody engineering to design and develop new precision radiopharmaceuticals for cancer. The company is building a pipeline of potentially best-in-class therapies for […]

Sectors
25 Apr 2023
view of Neuberger Berman's office at night

NB Private Equity wraps up challenging year

NB Private Equity Partners (NBPE) announced annual results for the year-end 31 December 2022. NAV fell 7.5% over the 12-month period with the decline driven by changes in quoted holdings and FX. Despite the falling NAV, the underlying portfolio performance was solid with operating performance of 14% LTM revenue and 12% LTM EBITDA growth, respectively. […]

25 Apr 2023

NAV growth at odds with discount for Round Hill Music

Round Hill Music Royalty Fund announced its full-year results for the year end December 2022. The company saw a 13% increase in NAV to US$519.6m driven by active rights management and positive structural music industry tailwinds while revenue increased 32% YOY. The performance continues an impressive period for the company, which has delivered a 35% […]

25 Apr 2023

QuotedData’s morning briefing 25 April 2023

GCP Asset Backed Income Fund (GABI) announced its quarterly update for the period ended 31 March 2023. NAV increased 0.24% over the three months driven by an increase in the weighted average annualised yield on the investment portfolio, from 8.0% as at 31 December 2022 to 8.4% as at 31 March 2023 and from the […]

Sectors
Companies
24 Apr 2023
API 54 hagley

abrdn Property Income Trust has positive outlook after difficult 2022

abrdn Property Income Trust expects commercial real estate returns to turn positive this year, after a difficult 2022. The company today reported a -12.8% NAV total return for the year to 31 December 2022, having been impacted by a rapid revaluation of assets due to higher interest rates and increased cost of its own debt. […]

Sectors
24 Apr 2023
230127 JEMA Car crash warning triangle

ThomasLloyd Energy Impact suspends share trading

ThomasLloyd Energy Impact Trust (TLEI) has just announced a temporary suspension to the listing of its ordinary shares, halting its trading. While preparing its annual results the trust was made aware of material uncertainty in the fair value of its investment in SolarArise, a Delhi-based renewable energy platform . The issue relates to a 200MW […]

24 Apr 2023
a notepad and pen sitting next to a cup of coffee in a blue cup and saucer

QuotedData’s morning briefing 24 April 2023

In QuotedData’s morning briefing for 24 April 2023: SEED Innovations (SEED) has announced the conversion of £600,000 Convertible Loan Notes (“CLNs”) in Northern Leaf, a Jersey based medical cannabis cultivator, following its successful £3 million pre-IPO fundraise. The CLNs were converted into 1,236,331 preference shares in Northern Leaf, representing 2.2% of the enlarged equity of […]

Companies
21 Apr 2023
230421 QD view Ashoka WhiteOak Emerging Markets

Ashoka WhiteOak Emerging Markets IPO prospectus

Ashoka WhiteOak Emerging Markets IPO prospectus was published on 18 April 2023. As usual, we are making it available for you to read here. Please remember that access to the IPO is restricted by geography and, in particular, you should not be contemplating an investment if you are based in the US. Make sure that […]

Sectors
21 Apr 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 21st April 2023

Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • HydrogenOne (1:04) • RTW Venture Fund (6:22) • Triple Point Social Housing REIT / Civitas Social Housing (8:01) This week’s interview was with Jean Roche […]

Sectors
Companies
21 Apr 2023
230421 QD view Ashoka WhiteOak Emerging Markets

QD view – Jury out on latest IPO

A brave WhiteOak Capital Management is trying to prop up the entire UK investment company IPO market almost single handed (although we are still waiting for the result of the AT85 Infrastructure IPO). The team behind Ashoka India Equity is looking to be the first to bring an investment company to market in over 18 […]

Sectors
Companies
21 Apr 2023

Aurora reports on a difficult year

Aurora Investment Trust (ARR) has announced its annual results for the year ended 31 December 2022. During what was a difficult year in global markets, ARR provided an NAV total return of -17.4% (2021: +17.1%) and the share price total return was -16.3% (2021: +13.5%). ARR says that, in comparison, its benchmark All-Share Index provided […]

21 Apr 2023

abrdn European Logistics Income sees NAV fall 8.1%

abrdn European Logistics Income saw its EPRA net tangible assets (NTA) reduce 8.1% to €1.25 per share in the year to 31 December 2022, due to the market-wide outward yield movements as a result of rising interest rates. The group’s portfolio value fell 4% on a like-for-like basis, but increased 14% to €759m (31 December […]

Sectors
21 Apr 2023
230421 HGEN CAeS Britten Norman Islander

HydrogenOne Capital Growth’s Cranfield Aerospace Solutions to merge with Britten-Norman

HydrogenOne Capital Growth (HGEN) has announced that it and its co-investors have signed a Heads of Terms agreement, signaling their intention to merge Cranfield Aerospace Solutions Limited (CAeS) with Britten-Normen and to create the world’s first fully integrated, zero-emissions sub regional aircraft for entry into service in 2026. HGEN describes this as an industry first […]

21 Apr 2023
230421 SOHO Auckland Regulator

QuotedData’s morning briefing 21 April 2023

In QuotedData’s morning briefing 21 April 2023: The Regulator of Social Housing has published an enforcement notice on Auckland Home Solutions, a tenant of Triple Point Social Housing REIT (4.6% of income) and Civitas Social Housing (15.9% of income). The enforcement notice follows on from the regulator’s ongoing engagement with Auckland and the regulatory notice […]

20 Apr 2023
230420 cldn air serv

Caledonia buys AIR-serv

Caledonia Investments has acquired a majority stake in the European division of AIR-serv, comprised of Airvending Limited and AIR-serv Netherlands B.V. Headquartered in Wigan, Lancashire, AIR-serv Europe is a leading designer and manufacturer of air, vacuum and jet wash machines which it provides as turn-key solutions to fuel station forecourt operators across Western Europe. The […]

Sectors
20 Apr 2023

Real estate values turn positive for first time in eight months

Total returns for UK real estate were positive in March, data from MSCI showed, the first positive return since June last year. The month-on-month total return in March was 0.67% (a 0.46% income return from rental income and a 0.21% capital return). Average values rose during the month after eight straight months of declines. “The rebound […]

Sectors
20 Apr 2023
Picton Property

Picton Property to convert offices to residential

Picton Property (PCTN) is exploring converting some of its office assets into “higher value alternative uses”, as market conditions in the office sector continue to be tricky. The company has used permitted development rights to secure residential use at its part vacant Angel Gate office in London, EC1. Consent has also been secured across seven […]

Sectors
20 Apr 2023
a coffee cup next to an alarm clock

QuotedData’s morning briefing 20 April 2023

In QuotedData’s morning briefing 20 April 2023: Fondul Proprietatea (FP) has sold its stakes in E-Distributie Muntenia, Enel Energie Muntenia, E-Distributie Dobrogea, E-Distributie Banat, and ENEL Energie to Public Power Corporation (a Greek company) for RON650m (£116.2m). Andrew Joy is now chairman of Herald Investment Trust (HRI), following the retirement of Tom Black. Sherborne Investors […]

Companies
19 Apr 2023

RIT Capital NAV made positive progress in Q1 2023

RIT Capital has published some commentary on its NAV move over the first quarter of 2023. The NAV total return over the period was 0.7%, as the trust gave back some ground over March. The manager notes that it has been a turbulent few months. As we highlighted in our recent note, the trust has […]

Sectors
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