In QuotedData’s morning briefing for 17 February 2023 The board of CVC Income and Growth (CVCE) has announced that the trust’s investment manager, CVC Credit Partners Investment Management, has waived its future right to a performance fee, taking effect from 1 January 2023. abrdn European Logistics Income (ASLI) has agreed a 3,939 sqm lease renewal […]
Riverstone Credit announced strong full-year results for the twelve months ended 31 December 2022. The company finished the year with a NAV total return of 14.5% in 2022. Strong cash generation across the portfolio allowed the company to deliver an annual dividend in excess of target for the 2022 financial year with 9.0 cents declared for […]
Herald Investment Trust (HRI) has announced its final results for the year ended 31 December 2022. NAV fell 22.8% during the year, underperforming its benchmark index, the Numis Smaller Companies plus AIM (ex. investment companies), which fell 22.8%. However, the company did outperform the small cap Russell 2000 Technology Index (in sterling terms) which was […]
Embattled Home REIT is considering the possible sale of the company after receiving an unsolicited approach from Bluestar Group Limited regarding a possible offer for the entire issued share capital of the company. The company said that any offer by Bluestar would likely be in cash but added “that there can be no certainty that […]
In QuotedData’s morning briefing 16 February 2023: Atrato Onsite Energy (ROOF) has announced the signing of a new power purchase agreement (PPA) with Tesco for a 370kWp new rooftop solar project on a supermarket site in Thetford, Norwich which will commence in Q2 2023. This will represent the first installation between the company and Supermarket […]
Brunner (BUT) has released its annual results for its financial year ending 30 November 2022. BUT reported a NAV total return of 3.0% over the 12 month period, outperforming its composite benchmark index (70% FTSE World Ex-UK and 30% FTSE All Share Index) which rose by 1.4%. BUT’s board has proposed a final dividend of […]
In QuotedData’s morning briefing 15 February 2023 JZ Capital Partners (JZCP) has announced that following a number of recent realisations of its investments, it has undertaken an early voluntary redemption in full of its subordinated 6 per cent. loan notes, paying approximately US$32 million in respect of the principal and interest outstanding. Following the voluntary […]
abrdn China Investment Company Limited announced final results from what has been a challenging year. NAV total return was -37.0% and share price total return was -35.5%, this compares to the MSCI China All Shares Index benchmark return of -31.5%. The report marks the first anniversary of the company’s new mandate, shifting from investing in […]
The board of Polar Capital Global Financials Trust Plc has announced the appointment of Simon Cordery to the role of chairman of the company with effect from 30 March 2023. Simon has been a non-executive director of the company since 1 July 2019. He replaces Robert Kyprianou who has been chairman since its launch, as […]
In QuotedData’s morning briefing 14 February 2023: Regional REIT (RGL) says the vast majority (99%) of its office tenants have returned to the office, with a hybrid work pattern of three to four days in the office and one to two days at home the favoured combination. The company says its regional office portfolio, which comprises […]
Augmentum Fintech says that NatWest Group has agreed to acquire a majority shareholding in Cushon, one of Augmentum’s holdings. The deal will need regulatory approval. This transaction would represent Augmentum’s fifth successful portfolio investment exit, all of which have been at or above the last reported holding value. Augmentum first invested in workplace savings and […]
SV Health (manager and AIFM for International Biotechnology) has informed the trust that it wishes to focus on its core healthcare venture business – quitting the job of managing the fund. Ailsa Craig and Marek Poszepczynski, the current lead managers, want to stay on in the role. The board has agreed that they will continue […]
abrdn Smaller Companies Income Trust says that, while it continues to deliver upon its investment objective (providing a high and growing dividend and capital growth from a portfolio invested principally in UK smaller companies and UK fixed income securities) its shares have continued to trade at a material discount to their net asset value for […]
In QuotedData’s morning briefing 13 February 2023: Aquila Energy Efficiency (AEET) is holding a continuation vote on 28 February. A meeting has been convened for that date. [The continuation vote was brought forward from 2025. The shares are trading on a 32% discount (this has been widening again in recent weeks) and the trust is […]
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: • Chrysalis Investments (0:34) • 3i Infrastructure (9:26) • CC Japan Income & Growth (11:00) This week’s interview was with Colm Walsh from ICG Enterprise […]
After a painful adjustment to higher interest rates in 2022, there are whispers that bonds may be back. Yields are at decade-highs, inflationary pressures appear to have peaked and investor interest is reviving. However, with an uncertain economic outlook, there are still risks to be navigated. The investment trust sector tends to gravitate to specific […]
The Scottish American Investment Company (SAINTS) has released its annual results for its financial year ending 31 December 2022. SAINTS aims to grow its dividend ahead of inflation over the long term. Over the past ten years SAINTS has increased its dividend at an annualised rate of 3.5%, which compares with UK CPI of 2.7%. […]
BlackRock Throgmorton Trust (THRG) has released its annual results for the financial year ending 30 November 2022 Over the 12 month period THRG reported a NAV total return of -31.1%, and share price total return of -35.5%. This compares to the -17.5% return of its benchmark index the Numis Smaller Companies plus AIM (excluding Investment […]
In QuotedData’s morning briefing 10 February 2023: JLEN Environmental Assets Group (JLEN) says that Nadia Sood has been appointed to its board as a non-executive director with effect from 10 February 2023. The announcement says that Nadia brings extensive experience of executing and managing complex infrastructure investments ranging in size across multiple international markets. She […]
Third Point Investors has published an investor letter for the finanl quarter of 2022. Third Point LLC returned 1.2% in the flagship Offshore Fund during the fourth quarter of 2022, compared with the S&P 500 Index return of 9.9% and the MSCI World Index return of 7.5% in the same period. It says: Results for […]
VinaCapital Vietnam Opportunity Fund has made a private equity investment in Chicilon Media Information Technology Vietnam Joint Stock Company (Chicilon Media), which it descrbes as “the leading inner-building advertising company in Vietnam”. VinaCapital is leading a consortium to invest $38m and the fund will put up $30m of this for an undisclosed stake and a […]
Cordiant Digital Infrastructure has published a trading update: It says that: The NAV per share was 105.5p at the last reported date of 30 September 2022, after adjusting for the 2p dividend paid in December 2022. Aggregate revenue across its investments increased by 8.8% to £146m and EBITDA increased by 5.9% to £76.5m over the […]
In QuotedData’s morning briefing 9 February 2023: CC Japan Income and Growth (CCJI) has reminded investors that the last day for exercising their subscription shares is 28 February. The day after, they will be suspended from trading and cancelled (if not exercised). The numbers are tight – the exercise price is 161p and last night’s […]
As previously announced, the lessee of DP Aircraft 1 ‘s two Boeing 787/8 aircraft, THAI Airways International, was placed into a rehabilitation programme to ensure its commercial viability following the unprecedented market disruption caused by the global COVID pandemic. As part of the cost saving measures agreed under the programme, THAI has been operating its […]
Chrysalis Investments (CHRY) has agreed to purchase £20m of equity in Starling Bank via a secondary market transaction led by an existing, third-party shareholder in Starling. It has emerged that the seller of the stake is Jupiter, which sold the 6% stake in Starling held by its open-ended fund (mainly by its £1bn Jupiter UK […]
In QuotedData’s morning briefing 8 February 2022: Civitas Social Housing (CSH) reported a fall in NAV of 3.4% to 110.93p per share in the quarter to 31 December 2022. This was due to an 18 basis points (0.18%) outward shift in the net initial yield of its portfolio and the effects of the mark-to-market valuations of the company’s financial swaps and […]
In QuotedData’s morning briefing 7 February 2023: HICL Infrastructure (HICL) says that the deal it announced last May – a 55% stake in French fibre network ADTiM SAS – is not going ahead as certain conditions have not been fulfilled. However, it remains on track to complete its purchase of Texas Nevada Transmission before 31 […]
In QuotedData’s morning briefing for 06 February 2023: Riverstone Energy Limited (REL) has announced a $12.5m commitment to Our Next Energy’s (ONE) $300m Series B round, valuing the company at over $1bn. ONE is a Michigan-based energy storage technology company working to develop batteries for mobility and large-scale storage applications. 3i Infrastructure (3iN) has announced […]
For me, one of the nice features of the investment companies’ sector is that the closed end structure of the funds contained therein can house some really interesting, and sometimes unique, investment propositions that are otherwise hard for the average investor to get exposure to. I often cite Herald Investment Trust, which is managed by […]
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: • Triple Point Social Housing (1:05) • Aquila European Renewables (7:05) Andrew McHattie’s summary on social housing sector (13:49). This week’s interview was with Will […]
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