Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Finsbury Growth & Income (0:23) This week’s interview was with Matt Cable from Rights & Issues – watch it again here.
In his latest QD view, James Carthew looks at the impact of recent market falls on the technology sector, and Polar Capital Technology in particular. Polar Capital Technology’s amazing results Polar Capital Technology (PCT) announced results for the 12 months ended 30 April 2024 on 17 July 2024, we covered these here. The numbers were […]
Hargreaves Lansdown has announced that it is recommending a cash offer for the company at 1140 pence per share. The bidder is Harp Bidco Limited, which is backed by CVC Private Equity Funds, Nordic Capital XI Delta, SCSp (acting through its general partner, Nordic Capital XI Delta GP SARL) and Platinum Ivy B 2018 RSC Limited. […]
In QuotedData’s morning briefing 9 August 2024: Murray International (MYI) announced its interim results for the six month period to 30 June 2024. The NAV total return was 5.5% compared with 12.2% for the company’s reference index. The share price total return was 0.5%, as the discount to the NAV widened from -4.0% at 31 […]
Another Home REIT (HOME) tenant has entered administration. One (Housing & Support) CIC, a tenant of 110 properties representing 7% of the company’s portfolio by number of properties as at 31 July 2024, has entered into administration, with Evelyn Partners acting as administrator. The company said it would work with the administrator to arrange for […]
Assura has agreed a deal to acquire Northwest Healthcare Properties’ UK private hospital portfolio for £500m. To fund the deal for the 14 asset portfolio, the company plans to issue Northwest £100m in shares, refinance £266m of debt, draw down £80m from its revolving credit facility and use £54m of cash. Portfolio overview The portfolio […]
In QuotedData’s morning briefing 8 August 2024: Ashoka India Equity (AIE) has reminded shareholders that its annual voluntary redemption – where shareholders can, if they choose, cash in their shares at NAV – will happen at the end of September. If you want to take part, redemption requests need to be in by 5 September […]
Tritax Big Box REIT (BBOX) has reported a 1.2% uplift in its EPRA net tangible assets (NTA) to 179.33p per share over the six months to 30 June 2024. Its portfolio grew 0.7% in value over the period on a like-for-like basis (off the back of 1.9% growth in ERV). These were the first set […]
In QuotedData’s morning briefing 7 August 2024: Apax Global Alpha Limited (APAX), announced that it expects to invest approximately €2.5m in greytHR on a look-through basis, a leading full suite human resource management software platform in India. The transaction is due to close in Q3 2024, subject to customary closing conditions. Cordiant Digital Infrastructure Limited […]
RTW Biotech Opportunities (RTW) has announced an investment in new portfolio company, Jade Biosciences. RTW, alongside other investment vehicles managed by RTW Investments LP, participated in Jade’s financing round that raised $80m for its launch. The funding will be used to support Jade’s plans to develop targeted therapies for indications with high unmet need across […]
Rights and Issues (RIII) announced its interim results for the six month ended 30 June 2024. The company delivered a strong first half with NAV up 13.2% and total shareholder returns reaching 15.8%, outperforming the index which gained 7.4% on a total return basis. The company’s discount narrowed to 8.2% at the end of the period. During the […]
In QuotedData’s morning briefing 6 August 2024: Apax Global Alpha (APAX) announced that Thoughtworks, a portfolio company in the Apax IX Fund, in which Apax Global Alpha Limited is a limited partner, has entered into a definitive agreement to be taken private by Apax Funds for $4.40 per share, which implies a total enterprise value […]
In QuotedData’s morning briefing 5 August 2024: Dunedin Enterprise (DNE) has announced that Dunedin Buyout Fund III LP has entered into a legally binding agreement for the realisation of its investment in EV, a provider of high-performance video cameras and quantitative visual analytics to the global energy industry. The investment in EV was valued, net […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Pershing Square Holdings (0:35) JPMorgan Japanese / JPMorgan Japan Small Cap Growth & Income (4:21) Andrew McHattie Introduction (9:01) Crystal Amber Fund (11:22) Highly concentrated trusts (14:48) Market rotation (17:22) UK small caps v […]
At last! The Bank of England’s first cut in interest rates has finally come, marked by a collective sigh of relief for many downtrodden sectors such as property. It may be just a 0.25% cut and a succession of quickfire cuts seem highly unlikely, but it signals a turning point that should bring confidence to […]
HgCapital Trust (HGT) has announced that its manager, Hg, has made an investment in CTAIMA and e-coordina. HGT will invest approximately £11.5m in the deal, alongside other institutional clients of Hg, through the Hg Mercury 4 Fund. HGT said that the combination of CTAIMA and e-coordina will create a leading Iberian contractor management, risk and […]
In QuotedData’s morning briefing 2 August 2024: Riverstone Credit Opportunities Income (RCOI) has provided an update on its investment in a loan to Harland & Wolff Group Holdings Plc following an announcement by that company. Alongside other credit funds managed by Riverstone, RCOI is co-invested in a US$115m loan to Harland &Wolff, of which RCOI’s […]
The planned launch of Pershing Square USA (PSUS) – which at one stage Bill Ackmann was saying could raise $25bn – has been pulled after failing to attract sufficient investor interest. The target size of the IPO has been steadily shrinking – most recently to $2bn – but a cornerstone investor is said to have […]
Henderson Smaller Companies has published results covering the 12 months ended 31 May 2024. Over the period, the trust generated a NAV return of 14.5%, trailing the benchmark by 3.7 percentage points but outperforming the sector average of 14.1%. The discount narrowed a little (from 13.2% to 11.5%) meaning that shareholders got a return of […]
Pantheon International has published results covering the 12 months ended 31 May 2024. Over that period, the NAV return was 6.1%, behind comparators such as the All-Share (up 15.4%) or, more relevantly, the MSCI World (up 22.2%). Fortunately for shareholders, the board’s efforts to rein in the discount seem to be bearing fruit and that […]
The Renewables Infrastructure Group is selling a 15.2% equity interest in the 330MW Gode offshore wind farm in Germany for €100m. The buyers are funds managed by Equitix Investment Management Ltd. The price is a 9% premium to carrying value. The company is retaining a 9% stake in the project. That will bring funds freed […]
In QuotedData’s morning briefing 1 August 2024: Infrastructure India’s (IIP) nominated adviser has resigned. It doesn’t think that it can appoint a replacement. AIM Rule 1 provides it with one month to appoint a replacement nominated adviser. If no replacement nominated adviser is appointed within that timeframe, the admission of the company’s AIM securities will […]
Crystal Amber is in wind up mode, as its portfolio shrinks, it is becoming increasingly concentrated. One investment – Morphic Medical Inc. – is starting to dominate. Crystal Amber’s stake in Morphic represented close to 50% of the NAV at 30 June 2024. Morphic is the creator of RESET®, a medical device designed to target […]
HydrogenOne Capital Growth (HGEN) has released a quarterly NAV and portfolio update. Key highlights for the quarter include: Q2 2024 Key Highlights Net Asset Value per share of the company increased by 2.9% since 30 June 2023; Private portfolio companies delivered an aggregate £76m in total revenue in the 12 months to 30 June 2024, […]
In QuotedData’s morning briefing 31 July 2024: LMS Capital (LMS) announced its interim results for the six months to 30 June 2024. During the period, the NAV return was -13%. Chairman, James Wilson, commented: “The changes to Dacian, whilst resulting in a write down now, we believe have put Dacian on a sound footing going […]
JPMorgan Japanese (JFJ) and Japan Small Cap Growth & Income (JSGI) have announced that the two companies have agreed to a combination where JSGI’s assets will be rolled into JFJ. JSGI shareholders will be entitled to realise up to 25% of their investment in JSGI for cash. The current investment manager of both companies, JPMorgan […]
Chrysalis has published its quarterly NAV report. At the end of June, the NAV was 145.51p, down 2.21p or 1.5% from the figure at end March 2024. A writedown in the valuation of wefox was offset by write up of other positions. The position in wefox has now been written down from £188.6m in October 2023, […]
HydrogenOne (HGEN) has announced that further to its June 19 capital raise (which you can read about here), portfolio company Strohm, the world’s first and leading thermoplastic composite pipeline technology company, has been awarded a contract by TotalEnergies. This is the largest commercial award for pipe supply in Strohm’s 16-year history, marking Strohm’s entry into […]
In QuotedData’s morning briefing 30 July 2024: Fidelity Japan (FJV) announced its interim results for the six months to 30 June 2024. The company delivered a NAV total return of -2.8% and ordinary share price total return of -6.2%. The TOPIX Total Return Index (in sterling terms) returned +6.2% over the same timeframe. The manager […]
CT Global Managed Portfolio (income shares: CMPI; growth shares: CMPG) has published its annual results for the year ended 31 May 2024. The income share provided an NAV total return of 7.0% (2023: -7.4%), underperforming its All-Share benchmark, which the trust says returned +15.4% (2023: +0.4%). The income shares paid an annual dividend of 7.40p […]
