Personal Assets Trust has published its results covering the year ended 30 April 2014. Over the year the company’s net asset value fell by 5.1%. Over the past three years Personal Assets Trust has underperformed both inflation and the FTSE All-Share Index. The problem, says Sebastian Lyon – the fund manager, has been the funds […]
Perpetual Income & Growth has published its annual accounts for the year that ended on 31 March 2014. Over that period Perpetual Income & Growth outperformed its benchmark (the FTSE All-Share Index) by some margin, delivering a total return on net assets of 18.8% at the portfolio level and 19.4% including the effects of marking its […]
Martin Currie Pacific has published its results for the thirteen months that ended on 31 March 2014. The Company has changed its year end from end February to end March hence the thirteen month period. Over the period the total return on net assets was -10.7% – an underperformance of the MSCI All Countries Asia […]
Workspace Group has announced results for the year ended 31 March 2014. Over the year its EPRA net asset value rose by 43% to £4.96 and they raised the total dividend for the year by 10% to 10.63p . The rise in the net asset value was driven by a 27% increase in the valuation […]
Tritax Big Box REIT has refinanced two recent acquisitions – the Marks & Spencer East Midlands Distribution Centre at Castle Donington, Leicestershire and the Tesco Distribution Centre at Southmead Industrial Estate, Didcot. Barclays Bank is providing loans of £49.3m and £12.2m respectively, secured individually on the assets. They are paying slightly more for the M&S centre financing […]
Terra Capital has published its results for the year ended 31 December 2013. While somewhat out of date now, the figures show a 10% increase in Terra Capital’s net asset value to 96 cents per share. The Chairman draws attention to the fact that this was achieved despite not being fully invested throughout 2013 – he […]
Standard Life Inv Property Income has sold its largest investment – a logistics unit in Bolton let to Tesco. The price it got for the property was £16m which equates to a yield of 7.25%. The reason for the sale, says Jason Baggaley, Standard Life inv Property Income’s manager, is that Tesco’s lease on the property […]
Henderson Diversified Income has published its interim accounts covering the six months to the end of April 2014. Over that period the fund generated a total return on net assets of 4.7%. The share price did not keep pace with the net asset value so the return to shareholders was 3.5%. The fund targets returns of 1.25% over LIBOR […]
LondonMetric Property plc has sold a 22,000 sq. ft. retail development in Berkhamsted let to M&S Simply Food and Costa Coffee at a price equivalent to an initial yield of 4.5%; is getting £15.2m for its Odeon Multiplex in Huddersfield (an initial yield of 6.1%); and is selling three DFS warehouse units in Ashby, Droitwich and Bury […]
Dragon Ukrainian Properties & Development has published results for the year ended 31 December 2013. These show its net asset value falling from $1.65 to $1.48 as they were hit by falling property valuations, notably in the value of their land bank, and also by the fall in value of the Hryvnya, the Ukrainian currency. […]
BP Marsh & Partners has published its results for the year ended 31 January 2014. The net asset value rose to 202p from 190p and the company declared an increased dividend for the year, and said it hoped to continue to pay a final dividend of at least 2.75p per share in the coming two years. BP […]
EIH has released its annual results for the year ended 31 December 2013. These are somewhat out of date now but show the net asset value rising from 72.7 cents to 74.7 cents per share – an increase of 2.8%. EIH also distributed 2 cents per share during the year. The company’s holding in Gland […]
British Land and the Crown Estate are selling Leamington Spa shopping park (held through a 50:50 joint venture) for £72m. The price is equivalent to an initial yield of 4.4%. The buyer is Ignis UK property Fund. Under British Land’s management the park has been refurbished and the tenant mix upgraded.
British Empire’s interim results for the six months that ended 31 March 2014 show the fund generating a total return on net assets of 4.8%, beating its benchmark (the MSCI All Country World ex US Index) which returned 2.4% but lagging the 5.6% return on the MSCI All Country World Index and the 5.5% return on […]
BBGI has bought the other 41.2% of the Norwegian E18 road project it acquired in December. The E18 runs for 38km between Grimstad and Kristiansand. The price was not disclosed
Martin Currie Pacific Trust, the last of the pan Asia including Japan funds, is planning to drop Japan from its remit and move to an Asia ex Japan and Australasian strategy. It wants the new portfolio to be completely unconstrained from any benchmark and so is proposing to measure its future performance against the GDP growth […]
Standard Life European Private Equity, chaired by Ed Warner OBE (pictured), has published figures for the six months ended 31 March 2014. Over that period the company’s net asset value rose by 3.6% to 252.2p which, taking into account income earned in the period, translates into a net asset value total return of 5.5%. The share […]
Harbourvest Global Private Equity has published its results for the year that ended 31 January 2014. Over the year the net asset value grew by 15% to hit $14.38 ($1,167m). They say venture investments and investments in the US did best during the year. By contrast the MSCI World Index rose by 10.4% over this […]
MedicX Fund has published its interim results covering the six months ended 31 March 2014. Over the period its net asset value, calculated with debt at fair value, fell from 69.4p to 68.6p. The quarterly dividend is now running at 1.45p per share, implying a full year dividend of 5.8p – marginally up from 5.7p […]
Chenavari Capital Solutions has published its first set of results. These cover the period from 12 July 2013 to 31 March 2014. Chenavari Capital Solutions was admitted to listing on 7 October 2013, raising £130m. The net asset value at the end of the period was 100.91p – a 3.0% increase on the initial value […]
Invista European Real Estate Trust has published its interim accounts. These cover the six months ended 31 March 2014. The net asset value fell from €0.25 to €0.20 over the period reflecting a 5.3% fall in the value of the company’s property portfolio. Four assets were sold during the period at a 15.6% discount to previous valuation […]
Elephant Capital has released its interim figures for the six months ended 28 February 2014. Its net asset value rose from 33p to 34p over the period. They wrote down the value of Amar Chitra Katha Private (a children’s media company) during the period but gains in its listed investment, Nitco Limited (flooring and wall tiles), offset […]
Capital Gearing Trust, chaired by Tony Pattison (pictured), has released its annual results. These cover the year ended 5 April 2014. Over this time Capital Gearing Trust’s net asset value fell by 2.5%. This was the first time in more than thirty years that the fund’s net asset value had fallen over an accounting year. […]
Montanaro European Smaller Companies has published its results for the year ended 31 March 2014. These show the net asset value rising by 6.0%, materially less than the 28.2% rise posted by the company’s benchmark. The discount widened over the year and so the share price appreciated by 4.0%. The Board is led by AR Irvine (pictured), his statement […]
New India Investment Trust has released figures for the year ended 31 March 2014 showing a negative total return on net assets for the year of 1.9% which compares to a 2.8% fall in its benchmark and a negative 5.1% return on its share price. In Rupee terms returns were not too bad but a 21% […]
Ecofin Water & Power Opportunities generated a total return of 9.0% on shareholders’ funds for the six months ended 31 March 2014. With the gearing effect of the zeros, the return on net assets for ordinary shareholders was 12.3% and the total return for ordinary shareholders was 13.4% as the discount on the ordinary shares […]
Tamar European Industrial Fund has sold a property in Sweden for £7.94m. The property is a 25,000 sq m warehouse located in Kungsbacka (south of Gothenburg) let to Blondie Logistics and Santa Maria AB. The sale price equates to an initial yield of 11.0%. This was 1.6% below the last valuation for the asset in […]
Over the year to the end of March 2014, Shires Income, managed by Ed Beal, delivered a total return on net assets of 11.5% – ahead of the 8.8% return on its benchmark, the FTSE All-Share Index. Shires Income’s rating improved over the period and so the return to shareholders was 14.0%. The dividend was maintained at […]
Electra Private Equity has released its interim statement. This covers the six month period ended 31 March 2014. Over the period Electra’s net asset value rose by 5.4% to 2,914p, driven in part by gains in the valuations of Axio Data and Park Resorts. Electra outperformed the FTSE All-Share Index, which rose by 4.8%. Electra’s share price […]
On 22 May International Oil & Gas Technology announced that the English Commercial court ruled that the claim brought against the company by the former manager, QOGT Inc, for alleged wrongful termination of the investment management and advisory agreement had failed in its entirety. International Oil & Gas Technology will have its costs paid by QOGT. A counter claim brought […]
