In QuotedData’s morning briefing 6 April 2023: JPMorgan Japanese (JFJ) has a new revolving credit facility of 10bn yen with the capacity to increase this by a further 2bn yen. Diverse Income (DIVI) has reminded shareholders that they can, if they wish, take advantage of its annual redemption facility at the end of May each […]
abrdn Asian Income Fund announced annual results for the year ended December 31 2022. NAV total return was -3.6% while shares fell 2.7%, beating the benchmark MSCI AC Asia Pacific ex Japan Index total return Index, which fell by 6.8% on a total return basis. NAV total return has now outperformed the index over one, […]
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 […]
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), […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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, […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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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