The board of PRS REIT (PRSR) has formed a sub-committee to engage with shareholders and lead its response to the requisition notice published last week calling for chairman Stephen Smith and director David Francis be replaced. The sub-committee comprises the three independent non-executive directors who are not the subject of the requisition, being: Geeta Nanda, […]
LondonMetric Property has acquired £70m of warehouses and sold £50m of non core assets. The £70m of acquisitions consist of seven warehouses with a WAULT of 15 years, acquired at a blended net initial yield of 5.8%, rising to a minimum of 6.1% over the next two years and 6.5% after five years, with 91% […]
Oakley Capital Investments (OCI) has announced that Oakley Capital Fund IV has reached an agreement to sell its stake in Ocean Technologies Group (OTG), an independent software provider to the maritime industry, to Lloyd’s Register. OCI says that the transaction was broadly in line with OTG’s carrying value as at 31 March 2024 and that […]
Grit Real Estate Income Group, the pan-African real estate company, has provided an update on its non-core asset disposal strategy and progress made on transactions. The company has agreed non-binding heads of terms to sell the Tamassa resort, a Mauritian hospitality asset, at an implied net initial yield of 6.5%. It is also in preliminary discussions […]
Artemis Alpha (ATS) and Aurora (ARR) have announced this morning that their boards have agreed heads of terms for a proposed combination of the two trusts. If approved by each company’s respective shareholders, the transaction will be effected by way of a scheme of reconstruction and winding up of Artemis Alpha with the associated transfer […]
Downing Renewables & Infrastructure (DORE) has committed to acquire three Swedish hydropower plants and their associated storage reservoirs. The combined expected annual average production is around 7 GWh, with a potential increase of 0.5 GWh after further upgrades have taken place. The total investment is expected to be around £5m. Once the transaction completes, DORE’s […]
In QuotedData’s morning briefing 2 September 2024: Premier Miton Global Renewables (PMGR) has announced a non-material change to its investment objective. It says that its Board has considered the Financial Conduct Authority’s Sustainability Disclosure Requirements (SDR) which come into force on 2 December 2024 and has confirmed that pursuant to the SDR’s voluntary labelling regime, […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: Renewables/infrastructure (0:39, 2:25) Octopus Renewables Infrastructure (1:18) ATS/INOV – Reaction engines (4:34) PRS REIT – Requisition request (5:58) This week’s interview was with James Harries from STS Global Income & Growth Trust – watch […]
The Vanguard LifeStrategy Funds are a cornerstone in the retail and financial advisory sectors. Collectively, these funds offer five passive investment strategies that blend global equity and global bond index funds in varying proportions. The allocations range from 100% equity exposure to 20% equity and 80% bonds, with each fund adjusting its weighting in 20% […]
PRS REIT (PRSR) has announced that it has received a letter dated 29 August 2024 from Harwood Capital Management Limited, Waverton Investment Management Limited, CCLA Investment Management Limited, Alder Investment Management Limited and CG Asset Management Limited (shareholders of PRSR that hold, in aggregate, 94,025,149 ordinary shares representing c.17.3% of issued share capital), requesting the […]
Chelverton UK Dividend Trust (SDV) has announced its annual results for the year to 30 April 2024, during which it provided an NAV total return of 1.72% in a period that its manager says was a continuation of the difficult environment for UK small & midcaps. The manager says that, despite the combined headwinds of […]
Murray Income (MUT) has announced that it has agreed a reduced and simplified investment management fee with its manager, abrdn Fund Managers Limited. With effect from 1 July 2024, the annual investment management fee is calculated as 0.35% of the company’s net assets up to £1.1bn and 0.25% of any net assets above £1.1bn. Previously, […]
In QuotedData’s morning briefing 30 August 2024: Artemis Alpha (ATS) has announced that it is today writing down its holding in Reaction Engines Limited by 75%. This is in addition to a write-down of 25% compared to the 30 April 2024 year-end valuation made on 19 July 2024. ATS says that, following these write downs, […]
In its annual report released on 30 April 2024, Life Settlement Assets (LSAA) reported that it had acquired the policies held by the Mutual Benefit Keep Trust (MBC) and that, at the time of the annual report, the US Courts had approved the transaction, and LSAA had paid the purchase price for the policies. LSAA […]
Apax Global Alpha (AGA) has announced that it expects to invest approximately €29m in Veriforce on a look-through basis as the Apax XI Fund, in which AGA is a limited partner, has announced that it has reached a definitive agreement to acquire a controlling stake in Veriforce, a global provider of supply chain risk management […]
In QuotedData’s morning briefing 29 August 2024: CT Private Equity (CTPE) has published its interim results for the six months ended 30 June 2024, during which it provided NAV and share price total returns of 0.8% and -4.5% respectively. CTPE says that it benefited from strong realisations and associated income in the period of £52.3m, […]
In QuotedData’s morning briefing 28 August 2024: abrdn Property Income Trust (API) has sold Bastion Point, a single-let industrial unit in Dover that is let to the Secretary of State for Housing Communities and Local Government, for £9.475m. The sale price is in line with the end June 2024 valuation but 4.8% below the end […]
In QuotedData’s morning briefing 27 August 2024: Literacy Capital (BOOK) announced its interim results for the six months ended 30 June 2024. The company saw a NAV total return of 4.4% while its share price increased 9.9%, compared to a 5.8% increase for the benchmark index. In June 2024 Literacy celebrated its third anniversary since […]
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, James Carthew covered the week’s top stories: Doric Nimrod Air Two (0:19) Harmony Energy Income (6:49) This week’s interview was with Craig Baker from Alliance Trust – watch it again here.
QD view – four idiosyncratic investment options that provide a differentiated and diversifying addition to a portfolio Part of the joy of investment trusts is that they allow fund managers more room to explore. It doesn’t matter too much if a strategy is highly cyclical, goes through periods of unpopularity, or is illiquid, because managers […]
Harmony Energy (HEIT) reported a 1.4% drop in NAV to £215.43m or 94.84p per share over the quarter to 31 July 2024. The decrease was mainly driven by a negative mark-to-market valuation of the company’s interest rate swap (-1.15p), partly offset by the positive revaluation of its Rusholme project following energisation (+0.30p). Target commercial operations […]
In QuotedData’s morning briefing 23 August 2024: abrdn European Logistics Income (ASLI) posted a sharp fall in NAV due to the estimated costs of selling off its portfolio as part of the managed wind down of the trust. NAV over the quarter to 30 June was down 4.2% to 87.9 euro cents (GBP – 74.4p […]
Baillie Gifford US Growth has published results covering the 12 months ended 31 May 2024. Over that period, the trust returned 16.2% in NAV terms, well-behind the 24.8% return posted by the S&P 500 Index. However, the shares moved from trading at a discount of 22.4% at the start of the financial year to a […]
In QuotedData’s morning briefing 22 August 2024: Pauline Ng has become an additional named portfolio manager for JPMorgan Asia Growth & Income (JAGI), working alongside co-managers Robert Lloyd and Ayaz Ebrahim. Pauline joined JPMorgan Asset Management in 2005 and is a country specialist for the Association of Southeast Asian Nations (ASEAN) equities and head of […]
Doric Nimrod Air Two (DNA2) has sold its five remaining Airbus aircraft to Emirates for $200m (153.5m). The company, which purchased seven Airbus A380-861 aircraft from October 2011 onwards and leased each for 12 years to Emirates, intends to distribute the sale proceeds to shareholders (together with the remaining cash holdings, net of any liquidation […]
In QuotedData’s morning briefing 21 August 2024: Temple Bar Investment Trust (TMPL) posted a NAV total return of 13.1% for the six month period to 30 June 2024, outperforming the FTSE All-Share Index of +7.4%, as market conditions for value investing improved. The share price total return was +11.0%. Particularly strong returns from portfolio companies […]
Educational Video – This video explains how private equity firms create value. In this series by Oakley Capital, they break down private equity and explore how it helps companies accelerate growth through value creation.
Diverse Income Trust has published results for the year ended 31 May 2024. The NAV total return for the period was 16.5%, which it compares to 15.6% for a peer group selected by the trust, and 15.6% for the Deutsche Numis All-Share Index. (It also publishes an adjusted NAV which takes account of the performance […]
In QuotedData’s morning briefing 20 August 2024: Polar Capital Global Financials (PCFT) has been promoted to the FTSE 250 Index, replacing Redrow which has been taken over by Barratt Developments. Triple Point Social Housing REIT (SOHO) has completed the transfer of all 38 properties previously leased to struggling housing association Parasol (representing 9.7% of the […]
Caledonia Investments (CLDN) has invested £55m to acquire a majority stake in Direct Tyre Management Limited (DTM), the UK’s leading independent provider of outsourced tyre management services to fleet operators. The management team has reinvested alongside Caledonia to acquire 100% of the business from investors including Palatine Private Equity. The manager noted that the acquisition […]
