JLEN : Everything on track at John Laing Environmental John Laing Environmental Assets has published its first set of figures since it listed in March, covering the period up to the end of September 2014. They raised £160m and invested all of that into seven environmental infrastructure assets on nine sites. The initial net asset […]
BYG : Big Yellow expanding in Oxford and Cambridge Big Yellow has announced its interim figures for the six months ended 30 September 2014. Big Yellow’s net asset value rose from 436.3p to 461.9p and its interim dividend was raised from 10.1p to 13.0p. Year on year occupancy increased from 70.5% to 75.2% and they drove […]
FRCL : Foreign & Colonial to redeem its debenture Foreign & Colonial has £110m of debenture stock outstanding that was issued in 1989 and falls due for repayment on 31 December 2014. The Board have announced today that this will be redeemed at par on 31 December. This is good news for ordinary shareholders as […]
HICL : Good first half for HICL driven by imminent disposal HICL Infrastructure’s interims for the six months ended 30 September show a decent increase in the net asset value over the period. The net assets value rose by 7.4% to 130.5p and the dividend was increased to 3.62p from 3.5p the previous year – they […]
FCSS : Fidelity China boosted by Alibaba Fidelity China Special Situations beat the MSCI China Index by 6.7% over the six months ended 30 September 2014, returning 16.8% vs. 10.1% for the Index. The company’s shares returned 14.3% as the discount widened a little – from 9.6% to 11.7%. Fairly high levels of gearing boosted […]
BKSA : Black Sea Property requisition The Board of Black Sea Property has published a response to a requisition it has received requesting that it not wind up, recommence investing in Bulgarian property and appoint a new fund manager. The response is quite detailed so we have reproduced it in full below. Dear Shareholders, Fitel Nominees, […]
PCTN : Good first half for Picton Picton Property Income’s net asset value rose from 56p to 62p over the six months that finished on 30 September 2014, aided by an uplift in the value of the property portfolio of 6.8%. They are maintaining the interim dividend at 1.5p. This translate into a return on net […]
MCKS : McKay Securities busy investing cash raised in February McKay Securities has published its interim report which covers the six months that ended on 30 September 2014. Over that period McKay’s EPRA net asset value rose by 5.7%, driven by a 4.8% return on its property portfolio. McKay is maintaining its interim dividend at […]
AJIT : Early success for Aberdeen Japan Aberdeen Japan has beaten its new benchmark index by some margin since it adopted its new mandate in October 2013. Over that period its net asset value rose by 17.6% vs. a 3.5% increase in the TOPIX Index. Over the six months that ended on 30 September 2014 […]
BLND : Above market growth in asset value for British Land British Land’s interim report for the six months ended 30 September 2014 shows 11.8% growth in its net asset value to 769p with property values up 7.2% and total returns on property of 9.8% for the period. Underlying profits were 6.2% ahead at £155m, with […]
SCF : Schroder Income Growth change to investment policy Schroder Income Growth’s annual report for the year that ended on 31 August 2014 is out. they upped the dividend by 3.1% (well ahead of the 1.5% increase in the CPI – inflation beating dividend increases are part of Schroder Income Growth’s objective). The total return […]
STS : Securities Trust of Scotland underperforms in first half Securities Trust of Scotland lagged its benchmark (MSCI World High Dividend Yield Index) by 2.4% over the six months that ended on 30 September 2014 – making a 2.6% total return on net assets. The Chairman said stock selection was the predominant reason behind underperformance, particularly within the […]
SHRS : Dollar weakness food price competition restraining Shires Income Over the six months that ended on 30 September 2014 Shires Income generated a 1.6% return on net assets – just ahead of the 1.2% return on the FTSE All-Share Index. It moved from trading at a 1.6% premium to a 1.8% discount however and […]
NSA : Nimrod Sea Assets adds two platform supply vessels Nimrod Sea Assets is spending $24.4m on a 75% stake in two new platform supply vessels (PSVs), $12.75m now and the balance next April when the second of the two boats is complete. They will be chartered and operated by Fletcher Shipping ( designation: FS Cygnus, […]
QIL : Qannas investing in new financial services company Qannas Investments is spending $20.4m to acquire up to 50% of a new financial services company, Integrated Financial Group. Integrated Financial Group is being set up to acquire First Gulf Financial Services LLC (in the course of being renamed Integrated Securities), which is in the business […]
TRIG : Renewables Infrastructure buys Kirkcaldy wind farm The Renewables Infrastructure Group is paying £32m to acquire a 16MW wind farm at Kirkcaldy, Fife, Scotland. The Earlseat wind farm has eight Vestas V90 2.0 MW wind turbines and was grid-connected in June 2014. The farm is subsidised to the tune of 0.9 ROCs per MWh and […]
SREI : Schroder Real Estate may become a REIT Schroder Real Estate has published its interims figures for the six months ended on 30 September 2014. Over that period the net asset value rose by 13.4% to 55.1p on the back of a 12.7% increase in the value of the property portfolio (by contrast the […]
HVTR : Boardroom row at Henderson Value Trust The Chairman of Henderson Value Trust has resigned and given an interview to a Sunday Telegraph journalist following a row in the Board room about whether to publish the results of a report detailing the illiquidity of some of the funds holding (as it approaches the date […]
SLET : Decent returns from Standard Life Equity Income Over the year to the end of September 2014 Standard Life Equity Income managed to beat its benchmark index delivering a total return on net assets of 6.9% and a return to shareholders of 6.3% vs. a 6.1% return on the FTSE All-Share Index. The dividend […]
GLIF : GLI buying out rest of Sancus GLI Finance is to buy out the other shareholders in Sancus in a deal that values Sancus and its portfolio of loans at £37.75m. £17.75m of the purchase price will be paid in 31.4m new shares in GLI Finance worth £17.75m (valuing those shares at 56.5p). GLI will […]
OPP : Brooks MacDonald requisitions Origo meeting On Friday Brooks MacDonald’s spat with Origo reached a new high as it requisitioned a meeting of Origo’s shareholders at which it will propose that all of Origo’s directors, with the exception of Chris Rynning (the Chief Executive), are removed and Brett Miller and Rhys Davies appointed instead […]
3IN : 3i Infrastructure completes French prison deal 3i Infrastructure has announced that the deal to build a new prison, La Sante, in Paris, that was referred to in its recent interim statement, has now been completed. It will invest €11.7m to take an 80% stake in the project. The La Santé primary PPP project (the […]
GLIF : GLI Finance takes stake in Ovamba Solutions GLI Finance has announced that it is investing $1.28m to take a 20% stake in Ovamba Solutions, an African peer-to-peer business investment platform. Ovamba is the first peer-to-business lending platform in francophone Africa, and also one of the first market lending platforms to offer investment opportunities […]
BBOX : Tritax Big Box buys Doncaster distribution centre Tritax Big Box REIT is buying The Range UK National Distribution Centre at Nimbus Park, Thorne, Doncaster for a purchase price of £48.5m (a net initial yield of 6.1%). Thorne is about 7 miles to the north east of Doncaster town centre, adjacent to the M18 motorway and […]
III : 3i continues to shrink private equity portfolio 3i’s net asset value rose by 10p to 358p over the six months that ended on 30 September 2014 and, in addition, it paid a 13.3p dividend to shareholders in July – this works out at a total return for the period of 7.1%. It plans […]
GPOR : Development activity drives NAV growth at Great Portland Great Portland Estates reported an 11.8% uplift in its EPRA net asset value for the six months ended 30 September 2014 on the back of an 8.9% uplift in the value of the portfolio. earnings per share were up 11.3% to 5.9p and from this they […]
GLIF : GLI says Finexkap secures funding GLI Finance has announced that its French peer to peer factoring investment, Finexkap, has secured funding of $22.5m ($7.5m in series A equity and $15m to finance lending). Following the transaction GLI has a 26.4% stake in Finexkap. The other external investors in Finexkap now include Finsight, a […]
HFEL : Henderson Far East Income fails to match benchmark Henderson Far East Income, managed by Michael Kerley (pictured), has reported a total return of 11.2% on net assets for the year that ended on 31 August 2014, underperformance of its peer group, which returned 12.1%, and its benchmark (the FTSE All World Asia ex Japan […]
CGT : Capital Gearing hails positive performance Over the six months that ended on 5 October 2014 Capital Gearing managed to deliver growth in its net asset value of 1.2%. The Chairman says “A 1.2% return is not a cause for wild celebration; however in an environment of overinflated asset prices and significant macro-economic and […]
WKP : Workspace posts 20% rise in NAV Workspace has announced its results for the six months ended 30 September 2014. they say that over this period the EPRA NAV is up 20% to £5.97 from £4.96 on a 15% increase in property values. Earnings per share rose 27% to 8.4p and from this they […]
