CAT : No disasters in 2014 for CatCo CatCo Reinsurance Opportunities has said that its net asset value has been unaffected by any significant insurance event in H1 2014. This means that the NAV return for H1 was 4.3%. The share price return for the period was 4.0%. European winter storms and severe weather in the […]
DLN : Good start to 2014 from Derwent London Derwent London’s interims show a 13.6% increase in its EPRA NAV for the first half of 2014. The interim dividend has been increased by 8.4% to 11.65p on the back of a 12.3% improvement in EPRA earnings. Derwent London has undrawn facilities of £364m and its loan […]
NBLS / NBLU : Flat first half for NB Global Floating Rate Income Both NB Global Floating Rate Income’s US dollar and Sterling net asset values were remarkably stable over the first half of 2014 (difference was fractions of a cent / penny). Adjusting for income, the total return on net asset value was 1.8% for […]
SPK : Spark Ventures final results show big cash inflow Spark Ventures has published its results for the year that ended 31 March 2014. £33m of cash came in during the year from sales of investments including Kobalt, notonthehighstreet and IMIMobile. Shareholders have received distributions of 6.5p. The net asset value fell 18% to 10.65p. Most […]
VNH : Vietnam Holding says CEO of manager has resigned Vietnam Holding has announced that the CEO of its management company, Pham Ngoc Bich, has resigned and plans to leave VietNam Holding Asset Management on 30 September 2014. As a temporary measure, the Board of Vietnam Holding has appointed one of its own members, Vu […]
PEY : Half of Princess Private Equity portfolio now in direct investments Princess Private equity has published its interim results for the period that ended 30 June 2014. They say that more than 50% of the portfolio is now invested in direct private equity investments (in line with the objective they adopted some time ago). […]
LAND : Land Securities sells its Bristol shopping centres Land Securities has sold its 50% stake in Cabot Circus shopping centre, the adjacent Quaker Friars luxury goods and dining centre and high street shops. Collectively these generated rents of £17.3m for Land Securities – they fetched £267.8m, equivalent to a yield of 6.5%. Land Securities […]
DIVI : Diverse Income races ahead, leaves All Share standing Diverse Income Trust has published its third set of final accounts. These cover the year that ended on 31 May 2014. over that period Diverse delivered a return on net assets of 26.1%. The level of the premium was unchanged on the year and so […]
CREI : Custodian REIT buys property in Nottingham Custodian REIT is paying £1.741m for 15 St. Peter’s Gate in Nottingham. The retail unit is let to the White Company until June 2020 at a rent of £140,000 per annum – equivalent to a net initial yield of 7.75%. Custodian REIT is paying for the property […]
WTAN : Witan benefits from discount narrowing but underlying performance dull Witan delivered a return to shareholders of 6.9% for the six months ended 30 June 2014. This was almost entirely down to discount narrowing however as the fund shifted to trade on a 1.5% discount. the underlying net asset value total return was 1.1% […]
RSE : Riverstone Energy invests $100m in new Canadian oil & gas company Riverstone Holdings, associated funds, a Middle Eastern Sovereign Wealth Fund and Grafton Asset Management are investing $675m into a new oil & gas company based in Calgary – Canadian Non-Operated Resources LP (CNOR). Riverstone Energy is stumping up $100m of this. CNOR is […]
SLI : Standard Life Investments Property puts another £29m to work Standard Life Investments Property Income has spent £28.65m on three logistics assets. Tetron 93 and Tetron 141 (pictured) both in Swadlincote in Derbyshire and Denby 242 on the Denby Hall estate, also in Derbyshire were built in 2008/9 and throw off rent of £2.1m between them – equivalent […]
ERE : Board considering leaving AIM after Eredene asset value falls sharply Eredene published its accounts for the year ended 31 March 2014 today. The net asset value fell to 11.3p from 18.5p. They are still trying to sell off the portfolio and cut overheads and have had some success – the recent Sattva deal […]
WKP : Workspace jv to build 98 flats in Hayes Workspace Group has got planning permission to redevelop Enterprise House in Hayes. The plan is to create 98 apartments and 38,000 sq t of space dedicated to creative industries (one anchor tenant is the Vinyl Factory – a business making vinyl records. The redevelopment will […]
SVI: SVG Capital sees net inflow in first half SVG Capital received £92.5m in H1 2014 as Pemira stepped up the pace of realisations within its funds and it has seen a further £116.6m flood in since the end of June. SVG reinvested £78.6m of this in the first half and has had calls of […]
NewRiver Retail pays £140m for three shopping centres NewRiver Retail is acquiring a portfolio of three shopping centres. The purchase is being made through its Bravo joint venture – both parties are taking a 50% equity stake in the venture. In total they are buying 758,000 sq ft of space, let to 185 tenants, in three […]
MYI : Murray International outperforms in H1 Murray International Trust, managed by Bruce Stout (pictured), beat its benchmark over the first half of 2014, delivering a total return on net assets of 5.4% vs. a 2.8% return on the company’s benchmark (40% FTSE World UK and 60% FTSE World ex UK). The share price total return […]
New name and new objective for Investors in Global Real Estate IGRE : Investors in Global Real Estate plans to change its name to Schroder Global Real Estate Securities (provided shareholders approve that is). The change reflects the appointment of Schroders as managers of the fund earlier this month. The Board, following conversations with Schroders, […]
IERE : Invista European shaves €5m off debt pile with Spanish sale Invista European Real Estate, managed by Ludovic Berard (pictured), has sold a logistics asset in Alovera, Spain for €12.2m. Their plan is to use €7m of the proceeds from the sale to fund capital expenditure that they have planned elsewhere in their portfolio and […]
TRIG : Renewables Infrastructure buys three more solar parks The Renewables Infrastructure Group has acquired three operational solar parks in Dorset, Norfolk and Cornwall. Combined the parks have the capacity to generate 56.6MW. Parley Court Farm in Dorset is a 24.2MW plant built by Isolux Corsan and attracts a subsidy of 1.6 ROCs. Egmere Airfield […]
DCI : Dolphin Capital refinances its Amanzoe project Dolphin Capital has announced that Colony Capital will loan Dolphin’s Amanzoe project €40m. The money will be used to return a €10m deposit from Archimedia, repay a loan from Dolphin Capital and finance the extension of the project. Amanzoe is an Aman beach club, spa, villa and hotel […]
JAM : JPMorgan American technology overweight pays off JPMorgan American, managed by Garrett Fish (pictured), has published its interims for the period to end June 2014. It outperformed its benchmark over this period, delivering a net asset value total return of 4.1% vs. a 3.6% return on the S&P500 Index. The return to shareholders was 4.2%. […]
KWE : Kennedy Wilson Europe buys exposure to 99 assets in four months – and keeps going Kennedy Wilson Europe has published its first set of figures since listing late in February 2014 (the second largest real estate IPO on the LSE ever). They show that by the end of June 2014 it had spent […]
NRR: NewRiver Retail sells Bramley Shopping Centre in Leeds Bramley Shopping Centre has 54 units spread across 121,342 sq ft. The units are let top the likes of Tesco, Farmfoods, Boots, Bright House, Greggs and Pound Stretcher. NewRiver Retail bought the property in 2010 as part of a package of five centres and, over the […]
JLEN : John Laing Environmental says fire will not affect dividend A fire that struck John Laing Environmental’s Frog Island Mechanical Biological Treatment Facility in East London has been brought under control. The full extent of the damage is still being assessed. The facility is fully insured and John Laing Environmental says it expects the […]
Impax Environmental Markets says not holding Tesla unhelpful Impax Environmental Markets has published results for the first six months of 2014. Over this period the total return on the net asset value was 2.9% and the return to shareholders was 2.8%. This represents an underperformance of the FTSE ET100 Index (which returned 5.9%) but is […]
Premier Energy and Water outperforms in H1 Premier Energy and Water’s interims for the period ended 30 June 2014 that show the fund generating a total return ahead of the FTSE All-World Utilities Index (fund returned 12.6% vs. the index’s 12.4%) and well ahead of the FSE All-Share Index which returned 1.6%. Thanks to the gearing effect […]
Hg Capital sells stake in Voyage Care Hg Capital Trust will get £8.4m in cash as its share of a £375m deal where Duke Street, Partners Group and Tikehau are acquiring Voyage Care. Voyager Care is a provider of specialist residential services and supported living for people with learning disabilities, associated physical disabilities, autistic spectrum disorders, acquired brain injuries […]
Phaunos Timber Fund needs to raise cash as one of its holdings, Greenwood Timber, looks likely to make a cash call on the company and one of its main revenue producing assets, the New Zealand timber plantation at Mataraki, has suspended its dividends as a consequence of falling timber prices in China (as cautioned earlier […]
Riverstone Energy – Liberty II Bakken Asset Deal Liberty II Resources, one of the handful of companies that Riverstone Energy has invested in, is exchanging 31,500 acres of its holdings in North Dakota’s Williston Basin for an additional 4,175 acres in Williston Basin (located in Williams County) and $78.4m in cash. The deal adds another 30 drilling locations. The […]
