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Investment Companies News

Investment companies are companies set up to make investments on behalf of their shareholders (also called closed-end funds and, in specific circumstances, investment trusts).

15 Mar 2023
230314 svb

SBV updates from Schroder UK Public Private and Seraphim Space

Seraphim Space (SSIT) has commented on the recent events concerning Silicon Valley Bank (SVB). SSIT confirms that it does not bank with SVB, nor does its investment manager, Seraphim Space Manager LLP. However, eight of SSIT’s portfolio companies use SVB as their primary banking provider. SSIT says that it does not anticipate that the recent […]

Sectors
15 Mar 2023
210507 SIGC Thumbs down

Proposal to liquidate abrdn Latin American Income

The Board of abrdn Latin American Income Fund Limited has announced that proposals will be put forward for the company to be placed into summary winding up (the Jersey solvent liquidation process commenced by members’ special resolution), with the cash proceeds of the liquidation being returned to shareholders. While the board believes that the company’s […]

15 Mar 2023
QuotedData's morning briefing

QuotedData’s morning briefing 15 March 2023

Volta Finance Limited announced its first interim dividend for the financial year commencing 1 August 2022. The quarterly interim dividend of €0.13 per share is payable on 27 April 2023 amounting to approximately €4.76m, equating approximately to an annualised 8% of net asset value. Aquila Energy Efficiency Trust PLC has announced the appointment of Stifel Nicolaus […]

Sectors
14 Mar 2023

Solid performance but weak yen weighs down AVI Japan

While AVI Japan ( AJOT) fell in Feb, with NAV down 1.6% for the month, performance for the underlying companies was healthy with TSI Holdings the standout contributor (+20% share price gain adding 110bps to performance). T Hasegawa and NC Holdings detracted with a more difficult cost environment for both weighing on profits. It was […]

14 Mar 2023
230314 svb

More SVB updates – fortunately not too serious

A number of funds made comments on the fallout from the collapse of Silicon Valley Bank and Signature – as far as we can tell, there is nothing earth-shattering here. HarbourVest may be worrst-affected. Although as the managers of Polar Capital Global Financials Trust suggest, this episode may not be quite over yet. NB Private […]

Sectors
Companies
14 Mar 2023
230314 ibt seagen

Great result for International Biotech as Seagen gets bid

International Biotechnology Trust is in line for a big jump in its net asset value as its largest holding has been bid for. The trust owned 200,000 shares in Seagen Inc on 10 March, valued at $34.5m, making it the largest position in the trust, accounting for about 10.2% of the portfolio. On 13 March […]

Sectors
14 Mar 2023
Literacy Capital : Book

Literacy Capital cashes in on Kernel Global investment

Literacy Capital (BOOK) announced a transaction involving its portfolio company, Kernel Global, funded by Three Hills Capital Partners. Kernel is a recruitment group, comprised of two trading brands, that Literacy invested into in June 2018. On 31 December 2022, Kernel was Literacy’s fourth largest investment (equating to 7.6% of NAV). The transaction values Literacy’s stake […]

14 Mar 2023

Weiss Korea gives details of latest realisation opportunity

Weiss Korea has published a circular in connection with its latest realisation opportunity. When the company was launched in 2013, it committed to offer shareholders the opportunity to elect to realise all or a part of their shareholding on or prior to the fourth anniversary of its admission to AIM and every two years thereafter. […]

Sectors
14 Mar 2023

A slow and steady recovery for JPMorgan Claverhouse after tough start

JPMorgan Claverhouse (JCH) announced results for the year ended 31 December 2022.  The Company underperformed its benchmark, the FTSE All Share Index, declining by 4.6% on a NAV basis, and 5.1% in share price terms over the period, compared to a positive return of 0.3% for the benchmark. While management acknowledged the disappointing result, they […]

Sectors
14 Mar 2023

Supermarket Income REIT sells Sainsbury’s portfolio for £430m

Supermarket Income REIT has exchanged contracts for the sale of its interest in a portfolio of Sainsbury’s let supermarkets to Sainsbury’s for a total of £430.9m. As previously announced, Sainsbury’s has acquired 21 of the 26 stores in the Sainsbury’s Reversion Portfolio (SRP), concluding the contractual unwind of the SRP Portfolio structure. The transaction is expected […]

Sectors
14 Mar 2023
someone reading a newspaper with a piece of toast and a mug of coffee next to them

QuotedData’s morning briefing 14 March 2023

Fidelity Emerging Markets (FEML) released half year results for the period ended 31 December 2022. The share price was down -2.9%, trailing the MSCI Emerging Markets Index which was -2.19%. NAV fell 3.2% while the discount was 12%. The company highlighted weakness in Chinese material companies amid property sector challenges as the primary cause for […]

Sectors
13 Mar 2023
130323 HGT logo

HGT’s NAV growth remains strong despite tech headwinds

HgCapital Trust (HGT) has reported its annual results for the year ending 31 December 2022. Over the 12 month period HGT reported a NAV total return of 5.4%, though it also reported a share price total return of -15.1%. £527m was invested alongside Hg, the managing firm, including seven new portfolio companies. £404m returned to […]

Sectors
13 Mar 2023
220608 computer

2022 was a hard year for ATT

Allianz Technology Trust (ATT) has reported its annual results for the year ending 31 December 2022. 2022 was a difficult year for ATT, and the wider technology sector in general. AGT reported a NAV total return of -33.6%, and share price return of -40.4%. This compares to the -26.4% return of its benchmark, the Dow […]

Sectors
13 Mar 2023
a cup of tea, a croissant and some magazines

QuotedData’s morning briefing 13 March 2023

In QuotedData’s morning briefing for 13 March 2023: Gresham House Energy Storage (GRID) has announced a trading update for its portfolio for the 2022 calendar year, in advance of its annual results, to be published in April. GRID reported 20% like-for-like growth in underlying portfolio EBITDA in 2022, with EBITDA in excess of £48mn. This […]

10 Mar 2023
QuotedData’s weekly news show 23rd June 2023 with Jonathan Hick from Triple Point Energy Transition

QuotedData’s weekly news show 10th March 2023

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: • Oakley Capital Investments (0:32) • Alliance Trust versus F&C (8:58) • Henderson Opportunities (13:04) This week’s interview was with Anthony Catachanas from VH Global […]

Sectors
Companies
10 Mar 2023
230310 global voyage

QD view – Global voyage in search of income

Despite its volatility, 2022 favoured global equity income trusts. In recent years, funds in the sector had struggled to keep pace with their global sector equivalents, which could participate in the punchy rise and rise of the (non-dividend paying) technology sector. Last year, many income trusts managed to ride the value wave, even though few […]

Sectors
Companies
10 Mar 2023
230209 morning

QuotedData’s morning briefing 10 March 2023

In QuotedData’s morning briefing 10 March 2023: Workspace Group (WKP) has sold the residential component of the Riverside mixed-use redevelopment in Wandsworth, London, for £53.95m, in line with its September 2022 valuation (£43.95m is payable immediately with the remaining £10m payable in March 2024). Workspace initially secured planning consent for 402 residential units and a […]

09 Mar 2023

Surprise largish vote against Henderson Opportunities continuation

From the AGM results announcement for Henderson Opportunities: While the board is pleased to see the 75.82% support for the continuation of the company from the shareholders who voted, it acknowledges the proportion of the vote against resolution 11 (the continuation vote). The board also notes that only 26.56% of total voting rights were cast […]

09 Mar 2023
the words oakley capital investments set against a purple background 230309 oci 2022

Stunning 2022 extends Oakley’s track record of outperformance

Oakley Capital Investments has reported an NAV return of 24% for 2022, way ahead of comparable indices. Unfortunately, discount widening left investors with a return of +1%. However, even that compares favourably with an -8.1% return on the MSCI All Countries World Index, for example. The company uses the All-Share as a performance benchmark, that […]

09 Mar 2023

F&C positive returns driven by falls in the vaue of its debt

F&C Investment Trust reports an NAV return for 2022 of -5.3% and a return to shareholders of -0.9%. The trust benchmarks itself to the FTSE All World Index which it says returned -7.7%. The trust moved into the FTSE100 Index during the year. The full-year dividend was 13.5p, 5.5% higher than the previous year and […]

Sectors
09 Mar 2023
digital9 infrastructure logo

Digital9 may have a new manager by Q2 2023

Digital9 Infrastructure says it delivered an NAV return of 10.4% over 2022. The results statement notes the fall in its share price – blaming market volatility, the mini budget and the walkout of the investment management team in November 2022. The shares went from an 8.1% premium at the start of 2022 to a 21% […]

Sectors
09 Mar 2023
221117 ATST stability in troubed waters

Alliance Trust beats benchmark over volatile 2022

While returns were negative in 2022, Alliance Trust did beat its benchmark (MSCI All Countries World Index) over the course of the year, returning -7.1% in NAV terms as compared to -8.1% for the index. Shareholders did even better as the discount narrowed, the return to shareholders was -5.8%. The trust also points out that […]

Sectors
09 Mar 2023
US Solar Fund

QuotedData’s morning briefing 9 March 2023

In QuotedData’s morning briefing 9 March 2023: US Solar Fund (USF) says its board and its advisers have engaged with a significant number of parties and, following receipt of indicative proposals, have shortlisted several parties who have proceeded to the next phase of its strategic review process. In order to provide the shortlisted parties with […]

Companies
08 Mar 2023

QuotedData’s morning briefing 8 March 2023

In QuotedData’s morning briefing 8 March 2023: Syncona’s (SYNC’s) portfolio company Autolus Therapeutics has announced its operational and financial results for the full year ended December 31, 2022. Key highlights included: The FELIX study of obe-cel in relapsed/refractory (r/r) adult acute lymphoblastic leukemia (ALL) met its primary endpoint; remains on track for a next data […]

Sectors
07 Mar 2023
Miton Global Opportunities to put three proposals to shareholders 1

Nick Greenwood resigns from Premier Miton

The board of MIGO Opportunities Trust has announced that it has served a six-month protective notice to Premier Miton Investors on its investment management agreement. This was triggered by news that Nick Greenwood, the lead portfolio manager, has resigned from Premier Miton. The board says that Nick will continue to be available to manage the […]

Sectors
07 Mar 2023

QuotedData’s morning briefing 7 March 2023

JPMorgan Emerging Markets (JMG) announced an impressive half-year result for the period ending 31st December 2022 with a NAV total return of 1.3%, comfortably ahead of its MSCI Emerging Markets Index which was down -2.1%. Share price returns were also strong, growing 5.1% for the period, closing the discount to around 9%. The results continue […]

Geographies
  • Europe (EU and EEA ex UK)
  • Global
  • Japan
Sectors
Companies
06 Mar 2023
230306 ocean dial

India Capital Growth’s manager bought by AssetCo

AssetCo Plc, the asset manager founded and chaired by Martin Gilbert, has agreed to acquire Ocean Dial Asset Management Limited, investment manager to India Capital Growth. The deal is subject to regulatory approvals from the Financial Conduct Authority in the UK, the Securities Exchange Board of India and the Reserve Bank of India. Ocean Dial […]

06 Mar 2023

TFG produced positive results in a painful 2022

Tetragon Financial Group (TFG) has released its annual financial returns for the 12 month period ending 31 December 2022. Over the period TFG reported a return on equity of -0.8%, a NAV total return of 1.0%, and a share price total return of 18.5%. This represents a NAV underperformance relative to TFG’s hurdle of LIBOR+2.65%, […]

Sectors
06 Mar 2023

BBH’s focus on growth and innovation has hurt its results

Bellevue Healthcare Trust (BBH) has released its annual results for the 12 month period ending 30 November 2022. BBH reported a NAV total return of -4.1%, and share price total return of -11.9%. This compares to the 14.1% return of its benchmark, the MSCI World Healthcare Index. BBH’s underperformance is largely the result of its […]

Sectors
06 Mar 2023
a cup of tea, a croissant and some magazines

QuotedData’s morning briefing 6 March 2023

In QuotedData’s morning briefing for 6 March 2023: Life Settlement Assets (LSAA) has announced that it has received federal approval for the sale of the portfolio of life policies to Acheron Portfolio Trust. The portfolio was sold for a gross consideration of $24m, with transaction costs estimated to be $5m. Castelnau Group Limited (CGL) has […]

Companies
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