On 23 January 2023, the boards of directors of Dignity and Yellow (SPC) Bidco Limited, a newly formed company indirectly owned or controlled by a consortium comprised joint offerors SPWOne V Limited, Castelnau Group Limited and Phoenix Asset Management Partners Limited announced that they had reached agreement on the terms of a recommended cash offer […]
For the 12 months ended 30 November 2022, BlackRock Energy and Resources Income reported an NAV return of 44.5% and a return to shareholders of 44.8%. Given the weakness in markets of all kinds last year, this is an impressive result, especially as it now means that the trust has doubled in two years. The […]
BlackRock Income and Growth has published results for the year ended 31 October 2022. The trust managed to just beat its benchmark over the period, returning -2.3% to the All-Share’s -2.8%. However, its discount widened from 6.0% at the start of the financial year to 10.8%, leaving shareholders with a return of -7.0%. The dividend […]
Apax Global Alpha made a $90m commitment to Apax Digital Fund II (ADF II) in 2021. Yesterday ADF II announced an investment in Magaya, a leading digital freight software platform that automates critical workflows for international logistics providers (magaya.com). ADF II’s investment forms part of a 50:50 recapitalisation alongside financial sponsor LLR Partners and other […]
In QuotedData’s morning briefing 2 February 2023: Ecofin US Renewables’ (RNEW) manager increased its holding in the fund, buying 59,096 shares in the market at an average price of $0.835 in part settlement of its management fee due for the three-month period ended 31 December 2022. It and its associates now hold 346,887 shares. abrdn […]
Chrysalis Investments says its 31 December 2022 NAV was 128.26p, down 19.53p or 13.2% since 30 September 2022. Revaluations of four comanies took off 11.4p, foreign exchange movements accounted for a further 3.3p of the fall. There was limited portfolio activity over the quarter (several companies within the portfolio had raised fresh capital over the […]
In QuotedData’s morning briefing 1 February 2023: Macau Property Opportunities (MPO) says its board has agreed to roll the terms of the investment management agreement with Sniper Capital, with effect (retrospectively) from 1 January 2023. Accordingly, a management fee of $100,000 per calendar month for the calendar year 2023 will continue to be payable. Realisation […]
Home REIT is being investigated for bribery by the National Crime Agency, according to reports. According to the reports in City AM and Investment Week, several documents have been handed over to the NCA, which is considering passing them on to the Financial Conduct Authority and the National Investigation Service (NATIS), which investigates serious organised […]
Chrysalis (CHRY) has published its annual results for the year ended 30 September 2022. During the period, CHRY experienced an NAV decline of 104.17p (to 147.79p) which was largely driven by Klarna (57.66p) and the listed portfolio (31.90p) with the remaining assets performing strongly against a challenging backdrop. Key takeaways are as follows: CHRY received […]
Abrdn Private Equity Opportunities (APEO) announced its annual results for the year ended 30 September 2022. Key takeaways are as follows: APEO has shown strong annual Net Asset Value growth in spite of the difficult backdrop in both the global economy and financial markets. Its NAV total return for the year to 30 September 2022 […]
In QuotedData’s morning briefing 31 January 2023: Picton Property (PCTN) posted a 12.4% fall in NAV to 102.2p per share for the quarter to 31 December 2022, as property yields moved out in response to higher interest rates. The group’s diversified portfolio fell in value by 9.0% over the quarter to £758.9m (less than the […]
Aberforth Smaller Companies Trust (ASL) has published its annual results for the year to 31 December 2022. During the period, ASL provided an NAV and share price total returns of -10.4% and -7.3% respectively (as the discount narrowed from 12.6% to 9.8% over the course of the year). ASL’s chairman, Richard Davidon, comments that while […]
Aquila Energy Efficiency Trust (AEET) has provided an update on its progress in the commitment and deployment of capital since its last trading update, published on 20 December 2022. Investment commitments have increased by £13.4m to £100.7m, which exceeds the £98m net proceeds raised at AEET’s initial public offering (IPO). AEET says that this is […]
In QuotedData’s morning briefing 30 January 2023: In its 2021 prospectus, Fair Oaks Income (FAIR) said that, in the event that the realisation shares and 2021 shares trade at discount to any quarter end NAV, calculated on the date that the relevant NAV is published, 25% of that quarter’s investment management fees (in respect of […]
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: • JLEN / HydrogenOne (0:42) • US Solar Fund (9:27) • Henderson Eurotrust (10:33) This week’s interview was with Eileen Fargis from Ecofin US Renewables […]
Edinburgh Worldwide recently published its annual results – covering the 12-month period to 31 October 2022 – and the figures are not great. Over the period, the NAV fell by 40.3% and the share price by 46.0%. The fund benchmarks its performance against the S&P Global Small Cap Index and this returned -6.8% over the […]
JPMorgan Emerging Europe, Middle East & Africa Securities (JEMA – formerly JPMorgan Russian Securities) has published its annual results for the year ended 31 October 2022. Although it has broadened its mandate since, JEMA’s investment objective was focused on Russia at the time of that country’s invasion of Ukraine, which occurred during the period under […]
BlackRock Sustainable American Income (BRSA) has published its annual results for the year ended 31 October 2022. During the period, BRSA provided NAV and share price total returns of 7.4% and 3.6% respectively, thereby underperforming its reference index , the Russell 1000 Value Index, which BRSA says provided a total return of 10.7% over the […]
In QuotedData’s morning briefing 27 January 2023: GCP Infrastructure (GCP) has announced a dividend of 1.75p per ordinary share, for the period from 1 October 2022 to 31 December 2022. The dividend will be paid on 14 March 2023 to holders of ordinary shares recorded on the register as at the close of business on […]
The FCA has started criminal proceedings against five individuals for conspiracy to commit insider dealing and money laundering. The FCA alleges that Redinel Korfuzi, Oerta Korfuzi, Iva Spahiu, Rogerio de Aquino and Dema Almeziad conspired to commit offences of insider dealing between 17 December 2019 and 25 March 2021. Specifically, the FCA alleges that Mr […]
JLEN Environmental Assets and HydrogenOne Capital Growth are making their first investments into the green hydrogen sector. JLEN is buying a 33% equity stake in Foresight Hydrogen Holdco GmbH. Foresight Hydrogen Holdco holds a 75% stake in HH2E Werk Thierbach GmbH, a Special Purpose Vehicle which owns the development rights to the Thierbach green hydrogen […]
In QuotedData’s morning briefing 26 January 2023: Literacy Capital (BOOK) has published its quarterly trading and NAV update for the three months ending 31 December 2022. The NAV rose to 420.6p from 384.9p, contributing to a total NAV return of +9.3% in the last three months and +51.7% in the last twelve months. Portfolio companies […]
Embattled homeless accommodation provider Home REIT has suffered a further deterioration in rent collection with one of its tenants yet to pay rent for the quarter to 30 November 2022. Lotus Sanctuary, which represents 12.2% of the company’s overall rent roll providing 939 beds predominantly to vulnerable women, has suffered delays in the approval of […]
Gore Street Energy Storage (GSF) has agreed to acquire a 75 MW / 150 MWh Texas Asset, which is its largest acquisition in the US to date. The purchase brings GSF’s portfolio to 26 projects with a total capacity of 973.2 MW in operation and construction across the UK, Ireland, Germany and the US and […]
In QuotedData’s morning briefing 25 January 2023: JPMorgan Global Core Real Assets (JARA) has declared a fourth quarterly interim dividend of 1.05p per share for the year ending 28th February 2023. This will be paid on 24th February 2023 to shareholders on the register as at the close of business on 3rd February 2023. The […]
LondonMetric Property reports strong occupational activity in the logistics sector and the capture of significant rental growth across its portfolio. The company has undertaken 62 lettings, lease regears and rent reviews since 30 September 2022, adding £2.4m of annualised rent. This comprised: Lettings and lease regears on 24 assets, signed with a WAULT of 10 […]
CC Japan Income and Growth has pubished results covering the 12 months ended 31 October 2022. Over that period, the trust’s NAV return was -5.9% and the return to shareholders -7.1%. By contrast, the TOPIX index returned -9.5% The revenue return per share improved from 4.75p to 5.14p and from this the company declared dividends […]
In QuotedData’s morning briefing 24 January 2023: JPMorgan Global Income & Growth (JGGI) says its C share portfolio now has 77% commonality with its ordinary share portfolio. The C share portfolio contains holdings from JPMorgan Elect Managed Growth that the managers thought it might take some time to sell. The board decides when the time […]
Edinburgh Worldwide Investment Trust (EWI) has released its results for the financial year ending 31 October 2022. Over this 12 month period EWI generated a NAV total return of -40.3% and share price total return of -46.0%. This compared to the -6.8% return of the trust’s comparative index, the S&P Global Small Cap Index. Despite […]
Urban Logistics REIT has acquired five new assets for a total of £48m at a net initial yield of 6.0%. It has bought a portfolio of four assets for £39.5m at blended 6.1% net initial yield. All of the assets in the portfolio are immediately income producing but with short or medium term asset management […]
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