Mobius Investment Trust has published results for the period from 1 December 2021 to 30 November 2022. The NAV and share price on a total return basis decreased by 12.3% and 15.0% respectively. The MSCI EM Index lost 13%. The shares traded at an average discount to NAV of 2.3%, closing at a discount of […]
Law Debenture (LWDB) has published its annual results for the year ended 31 December 2022. During the year, LWDB provided an NAV total return with debt and Independent Professional Services (IPS) business at fair value for FY 2022 of 0.6% (-6.8% with debt at par). Similarly, it provided a share price total 0.4% for 2022 […]
Smithson (SSON) has published its annual results for the year ended 31 December 2022. It is the company’s fourth set of annual results and the first in which it has reported a decline in NAV and while the drop is significant and SSON has underperformed its benchmark, it comes a against a backdrop of a […]
For calendar year 2022, Fondul Proprietatea produced an NAV return of 19.1% and a share price return of 12.2% (in RON terms) or 3.9% in US dollar terms. At the year end, the shares were trading on a 20% discount. There’s a RON0.05 dividend and the board may yet declare a special dividend. The highlights […]
Student accommodation landlord Unite Group results for 2022 show performance ahead of pre-pandemic levels. Adjusted earnings were up 48% to 40.9p per share, while the company matched the uplift in its dividend of 32.7p (2021: 22.1p). The group’s portfolio was back to full occupancy in the 2022/23 academic year, with 3.5% rental growth. The outlook […]
Lar Espana Real Estate, the Spanish-listed REIT that invests in retail property, has reported a 5.0% increase in EPRA net tangible assets (NTA) in 2022, bucking the trends of falling valuations across the real estate sector. The company, which owns nine shopping centres and five retail parks across Spain, said EPRA NTA was €10.93 per […]
In QuotedData’s morning briefing 28 February 2023: Princess Private Equity (PEY) is abandonng (from April 2023) its currency hedging strategy, which had a considerable negative impact on the fund last year. Dividends based on 5% of NAV will resume in June with a 36 cent payment. The chair Richard Battey, who has been on the […]
Following the deadline on 24 February 2023 for receipt of forms of proxy in respect of the upcoming meeting on 28 February 2023, Aquila Energy Efficiency has announced the result of the proxy votes cast as at 2 p.m. on 24 February 2023. Votes over a total of 46,553,793 (about 55.58% of total votes cast) […]
Greencoat Renewables says that for the year ended 31 December 2022: NAV per share increased by 7.3 cents to 112.4 cents per share Declared dividends totalling 6.18 cents per share, with a target of 6.42 cents for 2023 (+3.9%) The portfolio generated 2,487GWh of electricity in the period (2021: 1,522GWh) that’s enough to power 538,958 […]
Gore Street Energy Storage Fund secured contracts in the 2023 T-4 capacity market auction across six of its battery energy storage sites. The T-4 auction is designed to secure capacity for the power grid for a period of 15 years commencing in four years’ time. Gore Street Energy Storage’s revenue for the first year (between […]
In QuotedData’s morning briefing 27 February 2023: Life Science REIT (LABS) announces the letting of part of the ground floor of Building One at Oxford Technology Park to Arcturis Data Limited, a healthcare technology company applying advanced analytics and machine learning to generate real-world evidence and novel healthcare insights in both common and rare diseases. […]
The need to decarbonise the global economy to address the myriad issues that are being created by climate change is now well understood. For this, a range of solutions is required but it is clear that for many economies, the UK included, renewables – primarily solar and wind but with smaller contributions from other technologies […]
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: • Harmony Energy Income Trust (0:42) • NextEnergy Solar (8:10) This week’s interview was with Jean Hugues de Lamaze from Ecofin Global Utilities and Infrastructure […]
Simon Edelsten, 61, lead manager of Mid Wynd will retire as a partner of Artemis Investment Management LLP at the end of 2023. Co-manager Alex Illingworth is also leaving the business. Simon will be replaced as lead manager by Alex Stanic who will join Artemis as its head of global equities on 1 March 2023. […]
Mintech, a private equity investment of Schroder British Opportunities Trust (SBO) and the leading global provider of price data, analytics, and forecasts for agri-food, announced the acquisition of AgriBreifing. The company specialises in agri-food supply chains and the combined group will have a strengthened financial profile, product offering and customer base, providing: The largest portfolio […]
Third Point LLC, the investment manager of Third Point Investors Limited (TPIL) issued a strongly worded letter to portfolio holding company Bath & Body Works (NYSE: BBWI), citing concerns around the company’s corporate governance and decision-making processes, and has chosen to force an election contest. The American specialty retailer has a market capitalization of approximately […]
European Opportunities Trust ( EOT) posted a 0.4% fall in NAV for the 6 months to 30 November 2022, underperforming its benchmark, the MSCI Europe Total Return Index, which grew 2.1%. Over the past 6 months the discount, which was 13.8% at the last close, has generally been outside the board’s desired parameters. Management believes […]
Greencoat UK Wind has announced results for the year to 31 December 2022. Despite lower than budgeted wind speeds, which alongside the project-specific issues highlighted below, meant that the portfolio generated 5% less power than forecast, it did produce 4,362GWh of sustainable electricity and generated £560.1m of cash. Notable issues affecting portfolio availability were: a […]
Harmony Energy Income has published its first full set of accounts. These cover the period from its incorporation on 1 October 2021, through its IPO on 9 November 2021 and run up to 31 October 2022. The fund raised £210m at launch and by the end of October 2022 these assets had grown to £257.8m […]
In QuotedData’s morning briefing 23 February 2023: Six months into its accounting year (which ends on 30 June 2023), Gulf Investments (GIF) had given up some ground with an NAV return of -1.8%. However, that compares well with a return of -7.1% on its benchmark. Unfortunately, the discount widened leaving investors with a return of […]
NextEnergy Solar Fund (NESF) has today published information for investors regarding its proposed energy storage strategy. The document provides details on how NESF will take advantage of energy storage opportunities in the UK to complement and diversify its existing large portfolio of 99 solar assets. The report is comprehensive and so we would recommend readers […]
The Renewables Infrastructure Group (TRIG) has announced its annual results for the year ended 31 December 2022. The company’s chairman, Richard Morse, says that the results have been the strongest in TRIG’s history since its IPO and that this has been against a challenging macro-economic backdrop, demonstrating the inherent quality of the TRIG’s portfolio and […]
In QuotedData’s morning briefing 22 February 2023: The merger between Capital & Counties (CAPC) and Shaftesbury (SHB) has been cleared by the Competitions and Markets Authority (CMA). The merger is expected to complete on 6 March 2023. CAPC and SHB shareholders approved the merger at the respective shareholder meetings held on 29 July 2022. Primary […]
Polar Capital Global Financials (PCFT) has announced its annual results for the year ended 30 November 2022. During the period, PCFT provided a positive NAV total return of 1.9% although, reflecting a widening of its discount, it provided a share price total return of -7.6%. In comparison, the MSCI ACWI Financials provided a total return […]
Cordiant Digital Infrastructure’s (CORD’s) Polish portfolio company, Emitel SA has signed an agreement with Polish public broadcaster Telewizja Polska SA for an expansion of its channels’ transmissions through a new, sixth digital television multiplex (MUX-6). The agreement came into effect on 1 February 2023. Emitel has developed the new digital terrestrial television MUX-6 over the […]
In QuotedData’s morning briefing 21 February 2022: AT85 Global Mid-Market Infrastructure Income says that the timetable for its IPO is being extended. It says: “The company has received significant interest from a wide range of institutional and private wealth investors, notwithstanding the challenging market conditions. In particular, the company is in discussions with certain potential […]
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: • International Biotechnology (0:52) • abrdn Smaller Companies Income (6:26) This week’s interview was with James Dow from The Scottish American Investment Company – watch […]
The headline numbers reported by real estate investment trusts (REITs) make for scary reading. NAV down 13.9% at AEW UK REIT in the final quarter of 2022, 21.5% at UK Commercial Property REIT, and several others posting similar declines. These falls (and more) were widely anticipated and priced into most companies late last year at […]
Gore Street Energy Storage Fund (GSF) has announced that it will acquire Big Rock, a 200 MW / 400 MWh energy storage project located in California, United States from Avantus. The project is part of a grid network that supplies electricity to 80% of California and a small part of Nevada. GSF’s investment manager estimates […]
SEGRO’s results for the year to 31 December 2022 reflect the current state of the logistics sector, with valuations falling 11.0% and estimated rents increasing 10.9%. The group reported adjusted NAV had fallen 15.0% over the year to 966p per share, driven by the 11.0% portfolio valuation decline to £17.925bn. The portfolio equivalent yield expanded […]
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