CIFU : Carador Income Fund provides modest returns during H1 2014 Carador Income Fund provided a total return of 3.67% during the first half of 2014. This comprised a fall in NAV of 2.12% during the period (from US$0.9466 to US$0.9265 per share) combined with dividends of US$0.0540 per share. CIFU’s shares closed the first half of 2014 at […]
BLND : British Land add Next and Marks & Spencer Simply Food as tenants at Wheatley Retail Park (pictured) British Land has announced that it has agreed terms with Next, and Marks & Spencer Simply Food, for two new units at the Wheatley Retail Park in Doncaster. Next, already a tenant at Wheatley, is taking a larger unit (23,518 […]
PHP : Primary Health Properties acquires health centres in Kidderminster, South Petherton and Crewkerne Primary Health Properties has announced the acquisition of three modern, purpose built, health centres for £14.3m. The properties are Hume Street Medical Centre in Kidderminster (Pictured – 2,387 square metres with GP practices and apharmacy as tenants), South Petherton Medical Centre (916 […]
MXF : MedicX Fund raises £50m through private loan note placement MedicX Fund has announced that it has raised £50m through the private placement of a loan note with a single institutional buyer. The loan notes mature in August 2019 and have an all-in interest rate fixed at 3.80%. The notes are secured against certain properties. £15 million of […]
VNH : Vietnam Holding posts strong performance on the back of rising equities market and buy backs Vietnam Holding‘s recent full year results (for the year ended 30 June 2014) report a 25% rise in NAV. Buybacks, during the period, had an accretive effect on NAV but, after adjusting for these, the company reports a rise […]
SIHL : Symphony International Holdings benefits from performance of Minor International and IHH Healthcare Symphony International Holding’s recent interims report an 11.7% rise in its NAV during the first half of 2014 (from US$1.1759 to US$1.3131). This is primarily due to strong price performance of its holdings in IHH Healthcare and Minor International. These added US$ 9.8m and US$ […]
AIF : Acorn Income Fund’s discount opened up during the first half of 2014 Acorn Income Fund‘s recent interims report a fractional fall in NAV during the period (359.97p to 359.20p) but, with a dividends totalling 6.25p, total return during the period was 1.52%. This was modestly behind the FTSE All-Share (1.59%) but ahead of the […]
HCFT : Highcroft Property benefits from Bicester and Cardiff properties coming on-stream Highcroft Property’s recent interims report a 17% increase in net rental income, primarily due to the acquisition of properties in Bicester and Cardiff during the second half of 2013. HCFT reports that it currently has no void units, and that it is actively […]
ERET : European Real Estate sees NAV fall 9.0% during first Half European Real Estate‘s NAV has fallen 9% during the first half of 2014. The value of the portfolio reduced by £4.0m relating to a ‘re-gearing’ of the Panrico leases (this saw a 25% reduction in rent in exchange for ‘useful’ lease changes) and a […]
AcenciA Debt Strategies potential for continuation option through to 2017 AcenciA Debt Strategies provided an NAV total return of 3.5% during the first half of 2014. Its share price beat this with a total return of 9% and, reflecting this, the discount to NAV narrowed from 9.3% to 3.9%. AcenciA has a hard wind up at the end of […]
ESP : Empiric Student Property acquires Edge Apartments, in Selly Oak, Birmingham, for £8.9m Empiric Student Property has announced that it has acquired Edge Apartments (pictured), in Selly Oak, Birmingham, for £8.94m. Edge Apartments is a purpose built, 77 bed, student accommodation property which also benefits from rental income from a Sainsbury’s store (which is […]
IIP : Infrastructure India has raised £61m (us$102) from Barnet Holdings Infrastructure India has announced that it has placed 337,607,041 new 1p ordinary shares at 18p (a 24% premium above the mid-market closing price of 14.5p on the 14th July) raising £61m (US$ 102m) before expenses. In accordance with a subscription agreement, announced on 20 August 2014, Barnet Holdings Limited has subscribed […]
ELTA : Electra Private Equity sees advances from Sherborne move up a gear Electra Private Equity has announced that it has received a requisition request from Sherborne Investors GP, LLC requiring Electra’s directors to call a general meeting of the Company’s shareholders. The objective is to consider resolutions that 1) Mr. Edward Bramson (of Sherborne Investment Management) […]
BBOX : Tritax Big Box REIT acquires DHL Distribution Warehouse in Lancashire for £28.9m Tritax Big Box REIT has announced it is to acquire a Distribution Warehouse in Skelmersdale, Lancashire, currently let to DHL Supply Chain Ltd, for £28.9m (net of purchase costs). The warehouse was originally constructed in 2003 and is a fully fitted distribution facility, […]
EPG : EP Global Opportunities’ Japanese exposure contributed to underperformance in H1 EP Global Opportunities Trust‘s recent interims confirm its NAV per share fell 0.6% during H1 2014, whilst total returns from the FTSE All-World Index and FTSE All-Share Index were 3.2% and 1.6% respectively. The share price discount to NAV also widened modestly from 1.5 per cent […]
BLND : British Land sells 52 Poland Street, Soho, for £26m British Land has announced the sale of 52 Poland Street, Soho, London for £26m. 52 Poland Street is a 20,500 square foot multi-let building over basement, ground and seven upper office floors. The total passing rent of £693k per annum equates to £33.84 per square foot, […]
CREI : Custodian REIT acquires ‘Staples’ retail warehouse in Milton Keynes for £5.7m Custodian REIT has acquired a freehold retail warehouse, currently let to leading UK stationary and office supplies company ‘Staples’, at 1 Grafton Gate East, Milton Keynes (pictured). The lease runs until September 2020 and has a current passing rent is £419k per […]
JUSC : JP Morgan US Smaller Companies in line with a lacklustre market during H1 JP Morgan US Smaller Companies results, for the first half of 2014, report a fall in JUSC’s NAV of 0.4% versus a fall of 0.2% in the Russell 2000 (all in sterling terms). JUSC’s share price saw a sharper fall (8.1%) as […]
AFRB : AFI Development reports strong growth in rental income during H1 AFI Development has released its interim results for the first half of 2014. Rental and hotel operating income has grown by 9% year-on-year to US$74.8m, whilst the contribution from AFIMALL City (pictured) grew 18% year-on-year to US$56.6m (H1 2013: US$48.0m). The gross value of portfolio of […]
BYG : Big Yellow reduces the cost of its debt financing Big Yellow Group has announced that it has completed the refinancing of its existing bank facilities. This will lead to both a lower average cost of debt (from 4.6% to 3.7%) and an increased average unexpired term of its debt facilities to 7.8 years. Key features […]
SREI : Schroder Real Estate Investment Trust to acquire Stacey Bushes industrial estate for £9.2m Schroder Real Estate Investment Trust has exchanged contracts to acquire Stacey Bushes Industrial Estate, Milton Keynes, for £9.2m. The freehold property is a 213,536 square foot multi-let industrial estate, constructed in the 1980’s and recently refurbished, let to 12 tenants with an […]
AAIF : Aberdeen Asian Income Fund – performing in line with benchmark Aberdeen Asian Income Fund’s interim results show AAIF’s NAV returned 3.8% in sterling terms, in line with the MSCI AC Asia Pacific ex Japan Index, which returned 3.9%. The return on the share price was 5.4% reflecting an expansion of the trusts premium to NAV […]
MAX : Max Property Portfolio sale completed, delisting tomorrow (19 August 2014) Max Property has announced that the sale of its entire issued share capital to Marina Topco (Jersey) Limited , approved by shareholders at the EGM on 11 August 2014 , has completed today (18 August 2014). The cancellation of the admission to trading on AIM and […]
KWE : Kennedy Wilson Europe Real Estate Acquiring Fairmount Hotel, St. Andrews, for £32.4m Kennedy Wilson Europe Real Estate has announced that it is to acquire the Fairmount Hotel, St. Andrew’s, Scotland (pictured) for £32.4m. The iconic property is managed and operated by Fairmont Hotels and Resorts under an agreement that lasts until 2031. The transaction […]
JRIC : Japan Residential Investment Company Sells Branche Kanamecho IV for £3.2m Japan Residential Investment Company has sold its Branche Kanamecho IV property (a 20 unit apartment building in Toshima Ward, Tokyo) for Yen 550m (£3.2m) excluding taxes and sale costs. This represents a 34.1% premium to the 31 May 2014 valuation, of Yen 240m, and is a […]
RSS : RAB Special Situations will hold continuation vote at end 2015 RAB Special Situations saw an increase in its net asset value over H1 2014 – from 16.83p to 17.25p per share. The increase comes in spite of falling index values fro AIM stocks and the FTSE AIM Basic resources Index. The Board and […]
RCP : RIT Capital struggling to find attractive investments RIT Capital Partners has published its interim figures covering the first half of 2014. The net asset value total return was 2.4% for the period. This compares to a 4.1% return on the MSCI All Countries World Index and a 2.6% return on a benchmark of […]
ALPH : Alpha Pyrenees edges closer to negative NAV territory Alpha Pyrenees’ interim results published on 15 August show a fall in its net asset value to 5.3p from 12.7p. (12.0p from 22.8p if, as Alpha Pryenees do, you adjust for the fair value movement on the currency swap – eliminated in October 2013, the interest […]
BRWM : BlackRock World Mining says past the bottom of the commodity cycle BlackRock World Mining’s interims, covering the first half of 2014, show the net asset value underperforming its benchmark – returning 0.8% vs. a 3.0% return on the Euromoney Global Mining Index. The ordinary share price total return was 2.4%. The managers believe that […]
MCT : Middlefield Canadian Income powered by energy sector Middlefield Canadian Income, managed by Dean Orrico, Richard Faiella and Andy Nasr, reported its interim figures for the period ended 30 June 2014 today. Its net asset value return of 8.8% was well ahead of the return on the S&P/TSX Composite High Dividend Index which returned 0.6%. […]
