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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).

05 Apr 2023

Stock selection and USD returns boost North American Income Trust

North American Income Trust announced results for the year ended 31 January 2023. Over the year, NAV total return was 9.6%, outperforming the 8.5% total return in sterling terms for the Russell 1000 Value Index, the company’s primary reference index, while the share price total return was 12.4%. The discount at which the share price […]

05 Apr 2023
230214 ACIC China

Struggles continue for Baillie Gifford China Growth

Baillie Gifford China Growth announced annual results for the year to 31 January 2023. NAV total return was -5.7% while shares dropped 7.9% compared with a total return of -2.2% for the MSCI China All Shares Index (in sterling terms). In the period from 16 September 2020 (the date of the adoption of the China strategy), […]

Sectors
05 Apr 2023
230210 QD view - Bonds BIPS NCYF

Annual results for NB Global Monthly Income as it begins wind down

NB Global Monthly Income Fund, which has put forward proposals to be placed in managed wind down, has announced its annual results for the year ended 31 December 2022. In what was a challenging year for fixed income, NAV fell -10.1% while shares dropped -13.60%. While the company does not list a benchmark, returns for […]

Sectors
05 Apr 2023

UK Commercial Property REIT secures 40% rental uplift in trio of deals

UK Commercial Property REIT has secured new leases across three assets at a combined weighted premium of 40% to previous passing rent, reflecting the strength of occupier demand in the industrial and retail warehouse sectors. Webcon, a supplier of car parts, has agreed a five-year lease renewal for the 10,000 sq ft Unit 1 at […]

Sectors
05 Apr 2023
Merchants Trust MRCH

Merchants Trust at the head of the pack

Merchants announced its results for the year ended January 31, 2022.  NAV total return for the period was 7.9% ahead of the benchmark index FTSE All-Share index return of 5.2% while shares were up around 3%. Merchants was also second in its peer group (a group of twenty one investment trusts with similar objectives) over the […]

05 Apr 2023
home reit logo over a picture of a residential street

Home REIT considering six for investment adviser role

Home REIT’s board has announced that it has received proposals from six candidates to act as the company’s investment adviser, which it is reviewing and expects to make an appointment over the coming weeks. The new investment adviser will take over from Alvarium Home REIT Advisors Limited, after its many failings that were first exposed […]

Sectors
05 Apr 2023

Crystal Amber requisition notice update

Crystal Amber has released the full text of a previously announced requisition notice which we wrote about here. The full text is laid out in full, below:  Dear Fellow Shareholder, 30th March 2023, Crystal Amber sent to the board of DLR a requisition notice requiring DLR to convene a general meeting at which a resolution will […]

05 Apr 2023

QuotedData’s morning briefing 5 April 2023

Schroder AsiaPacific Fund (SDP) has announced the appointment of Rupert Hogg as an independent non-executive director of the company, with effect from 1 May 2023. Mr Hogg will also be a member of the audit and risk, nomination and management engagement committees. Aquila European Renewables (AERI) announced that Guillena, a 50 MWp solar PV asset […]

Geographies
  • Asia
  • Europe (EU and EEA ex UK)
  • Global
  • North America
Sectors
Companies
04 Apr 2023
Merchants Trust MRCH

Game of two halves for Mercantile Investment Trust

Mercantile Investment Trust announced its annual results for the year ended January 31 2023. NAV fell 8.5% for the year, while shares fell 12.6% for a total return of -11.0%, trailing the UK medium and smaller companies benchmark which fell 7.5%. There was some notable improvement in the second half of the year, however, with […]

04 Apr 2023
Hydrogen

Plenty of upside for HydrogenOne

HydrogenOne (HGEN) announced results for the year ended December 31 2022. NAV growth was strong, up 21.9% year on year, however, this was offset by a 33.6% drop in the share price. While the underlying health of the company has remained solid, the discount has continued to widen, falling to around 50% at the last […]

Sectors
04 Apr 2023
221221 IIP No longer a going concern

Concentration risk sinks Castelnau Group

Castelnau Group (CGL) announced its results for the 12-month period ending December 31 2022, concluding its first full year as a listed company. The NAV total return for the year was -19.81%, and the share price return was -34.6%, versus the benchmark FTSE All Share Total Return Index of +0.3%, a -20.1% relative underperformance of […]

Sectors
04 Apr 2023
Bluefield Solar Income Fund - Walking on sunshine

Continued expansion for NextEnergy Solar

NextEnergy Solar Fund (NESF), the specialist solar fund, announced that its second international solar co-investment named Santarém, a 210MW project in Portugal in which NESF holds a 13% stake, has signed a long-term Power Purchase Agreement with Statkraft, a leading renewable producer in Europe’s energy market. Under the agreement, Statkraft will acquire electricity production from […]

04 Apr 2023
a cup of tea, a croissant and some magazines

QuotedData’s morning briefing 4 April 2023

Digital 9 infrastructure (DGI9) issued a statement regarding its share price. The board and the investment manager confirmed that they are not aware of any portfolio-specific factors that have led to the recent decline in the share price. The board believes that the discount to NAV at which the company’s share price currently trades materially […]

Sectors
Companies
03 Apr 2023

Tough year for UK Commercial Property REIT as interest rates bite

UK Commercial Property REIT posted a NAV total return for the year ended 31 December 2022 of -18.1%, due to market yield expansion following increased interest rates and macro-economic position. NAV was down 21.9% to 79.7p in the year, with the value of its portfolio down 15.4% to £1,275.6m. Over the longer term, the group’s […]

Sectors
03 Apr 2023
230403 IMPAX

IEM struggles with the growth rotation

Impax Environmental Markets (IEM) has announced its annual results for the year ending 31 December 2022. Over the period IEM reported a NAV total return of -15.0%, and a share price total return of -22.8%. This represents an underperformance relative to IEM’s global equity comparator index, the MSCI ACWI, which generated -8.1%. IEM did outperform […]

Sectors
03 Apr 2023
handshake against a background of offices

Industrials REIT agrees £500m sale of company

Industrials REIT is the subject of a £500m possible cash offer from US private equity giant Blackstone – 42.4% above its closing price on Friday. The company announced today that, following a period of extensive negotiations, it had reached agreement with Blackstone on the key financial terms of a final proposal for a possible cash […]

Sectors
03 Apr 2023

A very strong year for DORE

Downing Renewables & Infrastructure Trust plc (DORE) has announced its annual results for the financial year ending 31 December 2022. DORE reported a NAV total return of 19.5% over the year, and a NAV growth of 15.5% (i.e. the underlying portfolio). DORE reported a share price total return of 21.1% over the same period. DORE […]

Sectors
03 Apr 2023
Energy

QuotedData’s morning briefing 3 April 2023

In QuotedData’s morning briefing 3 April 2023: Greencoat UK Wind (UKW) has announced the purchase of Dalquhandy wind farm from BayWa r.e. for approximately £50m. Dalquhandy is a 42MW wind farm located near Coalburn in South Lanarkshire. The wind farm benefits from a 10 year fixed price PPA with BT for 80% of its output. […]

31 Mar 2023
Northern,Light,,Aurora,Borealis,At,Kirkjufell,In,Iceland.,Kirkjufell,Mountains

QD View – Discount opportunity on digital disruptor, DGI9

Digital 9 Infrastructure (DGI9) is a good example of a fund which has been caught up in the global market rotation despite impressive underlying fundamentals and long-term thematic tailwinds. At its heart, the company offers targeted exposure to digital infrastructure, which leverages cleaner, greener power. This provides the foundation for the rapidly accelerating digital transition, […]

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

QuotedData’s weekly news show 31st March 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, Andrew McHattie gave an insight on Tetragon Financial and Phoenix Spree Deutschland and James Carthew covered the week’s top stories: • Schiehallion (0:40) • Global Opportunities (5:13) • Infrastructure discounts (8:16) This […]

Sectors
Companies
31 Mar 2023
230330 SMT Technology EV

Scottish Mortgage: staying patient and disciplined

Market turmoil can distract us from what investing should be about: directing capital to companies that change our lives for the better. Tom Slater, manager of Scottish Mortgage Investment Trust, reflects on why in tough times, the best companies deserve investors’ loyalty. As with any investment, capital is at risk. New technologies and better ways […]

31 Mar 2023
230331 CRS De La Rue EGM Requisition

Crystal Amber looks to unseat De la Rue chair, Loosemore

Crystal Amber (CRS) says that it has sent the board of De La Rue Plc a requisition notice requiring De La Rue to convene a general meeting at which a resolution will be proposed to remove the current non-executive director and chairman, Kevin Loosemore. The requisition also proposes to appoint Pepyn Dinandt as a non-executive […]

31 Mar 2023
221209 rtw prometheus

Strong outperformance from RTW Venture aided by realisations

RTW Venture (RTW) has published its annual results for the year ended 31 December 2022, During the year, RTW’s NAV declined by -10.2% (from US$363.0m or US$1.71 per share to US$326.1m or US$1.54 per share) with the main detractor being the markdown in Ji Xing (c. -2.2% contribution), after the IPO was delayed due to […]

Sectors
31 Mar 2023
230331 JAM

JPMorgan American’s small cap allocation weighs on performance

JPMorgan American (JAM) has released its annual results for the year ended 31 December 2022. During 2022, financial markets have been heavily impacted by rising inflation and central banks’ interest rate hikes in response to this. Principal among these are the seven interest rate hikes in 2022 by the US Federal Reserve – taking the […]

Sectors
31 Mar 2023
221221 HHI does what is says on the tin

Henderson High Income outperforms during a more challenging year

Henderson High Income (HHI) has announced its annual results for the year ended 31 December 2022, which proved to be a more challenging period, after 2021’s strong performance. During 2022, HHI provided NAV and share price total returns of +-1.9% and -1.1% respectively, although this was superior to its composite index which provided a total […]

30 Mar 2023
230330 PSH

Pershing Square Holdings benefits from interest rate hedges

Pershing Square Holdings (PSH) has published its annual results for the year ended 31 December 2022. During the period, PSH net asset value (NAV) total return per share decreased by 8.8%, ending the year at US$51.76 per share, while its share price total decreased 14.6% as a result of the widening of the discount to […]

Sectors
30 Mar 2023

India Capital Growth benefits from financials overweight

India Capital Growth (IGC) has announced its annual results for the year ended 31 December 2022. During the year, IGC’s NAV rose 3.9%, modestly outperforming the BSE Midcap TR Index, which increased by 3.2%. The NAV of the portfolio, before deferred tax provision relating to potential Indian Capital Gains Tax, rose by 4.3% outperforming emerging […]

Sectors
30 Mar 2023
230330 agt ajot joe bauernfreund

AVI puts case for better governance around Japanese takeovers

Asset Value Investors (AVI) has submitted its opinions on best practices for takeovers in Japan to the Fair Acquisition Study Group of the Ministry of Economy, Trade and Industry (METI). The response was in respect of a request made by METI as a public consultation announced on 22nd February 2023 We reproduce the text of this […]

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