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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).

24 Feb 2023

Schroder British Opportunities holding, Mintech, announces acquisition

Mintech, a private equity investment of Schroder British Opportunities Trust (SBO) and the leading global provider of price data, analytics, and forecasts for agri-food,  announced the acquisition of AgriBreifing. The company specialises in agri-food supply chains and the combined group will have a strengthened financial profile, product offering and customer base, providing: The largest portfolio […]

Sectors
24 Feb 2023
230224 TPOU Sarah Nash

Third Point Issues Letter to Bath & Body Works

Third Point LLC, the investment manager of Third Point Investors Limited (TPIL) issued a strongly worded letter to portfolio holding company Bath & Body Works (NYSE: BBWI), citing concerns around the company’s corporate governance and decision-making processes, and has chosen to force an election contest. The American specialty retailer has a market capitalization of approximately […]

Sectors
24 Feb 2023
a coffee cup next to an alarm clock

QuotedData’s morning briefing 24 February 2023 – EOT, NAVF, CRC, GRIT

European Opportunities Trust ( EOT)  posted a 0.4% fall in NAV for the 6 months to 30 November 2022, underperforming its benchmark, the MSCI Europe Total Return Index, which grew  2.1%. Over the past 6 months the discount, which was 13.8% at the last close, has generally been outside the board’s desired parameters. Management believes […]

Sectors
23 Feb 2023

Greencoat UK Wind targets inflation-matching dividend hike

Greencoat UK Wind has announced results for the year to 31 December 2022. Despite lower than budgeted wind speeds, which alongside the project-specific issues highlighted below, meant that the portfolio generated 5% less power than forecast, it did produce 4,362GWh of sustainable electricity and generated £560.1m of cash. Notable issues affecting portfolio availability were: a […]

23 Feb 2023

Harmony Energy Income produces strong first set of results

Harmony Energy Income has published its first full set of accounts. These cover the period from its incorporation on 1 October 2021, through its IPO on 9 November 2021 and run up to 31 October 2022. The fund raised £210m at launch and by the end of October 2022 these assets had grown to £257.8m […]

23 Feb 2023

QuotedData’s morning briefing 23 February 2023

In QuotedData’s morning briefing 23 February 2023: Six months into its accounting year (which ends on 30 June 2023), Gulf Investments (GIF) had given up some ground with an NAV return of -1.8%. However, that compares well with a return of -7.1% on its benchmark. Unfortunately, the discount widened leaving investors with a return of […]

Companies
22 Feb 2023
battery stoage

NextEnergy Solar details proposed energy storage strategy

NextEnergy Solar Fund (NESF) has today published information for investors regarding its proposed energy storage strategy. The document provides details on how NESF will take advantage of energy storage opportunities in the UK to complement and diversify its existing large portfolio of 99 solar assets. The report is comprehensive and so we would recommend readers […]

Sectors
22 Feb 2023

The Renewables Infrastructure Group delivers strongest results since IPO

The Renewables Infrastructure Group (TRIG) has announced its annual results for the year ended 31 December 2022. The company’s chairman, Richard Morse, says that the results have been the strongest in TRIG’s history since its IPO and that this has been against a challenging macro-economic backdrop, demonstrating the inherent quality of the TRIG’s portfolio and […]

Sectors
22 Feb 2023
230124 morning

QuotedData’s morning briefing 22 February 2023

In QuotedData’s morning briefing 22 February 2023: The merger between Capital & Counties (CAPC) and Shaftesbury (SHB) has been cleared by the Competitions and Markets Authority (CMA). The merger is expected to complete on 6 March 2023. CAPC and SHB shareholders approved the merger at the respective shareholder meetings held on 29 July 2022. Primary […]

Sectors
Companies
21 Feb 2023

Polar Capital Global Financials grows during a tough year

Polar Capital Global Financials (PCFT) has announced its annual results for the year ended 30 November 2022. During the period, PCFT provided a positive NAV total return of 1.9% although, reflecting a widening of its discount, it provided a share price total return of -7.6%. In comparison, the MSCI ACWI Financials provided a total return […]

Sectors
21 Feb 2023
221107 CORD

Cordiant Digital Infrastructure’s Emitel signs agreement with Polish public broadcaster

Cordiant Digital Infrastructure’s (CORD’s) Polish portfolio company, Emitel SA has signed an agreement with Polish public broadcaster Telewizja Polska SA for an expansion of its channels’ transmissions through a new, sixth digital television multiplex (MUX-6). The agreement came into effect on 1 February 2023. Emitel has developed the new digital terrestrial television MUX-6 over the […]

Sectors
21 Feb 2023

QuotedData’s morning briefing 21 February 2022

In QuotedData’s morning briefing 21 February 2022: AT85 Global Mid-Market Infrastructure Income says that the timetable for its IPO is being extended. It says: “The company has received significant interest from a wide range of institutional and private wealth investors, notwithstanding the challenging market conditions. In particular, the company is in discussions with certain potential […]

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

QuotedData’s weekly news show 17th February 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: • International Biotechnology (0:52) • abrdn Smaller Companies Income (6:26) This week’s interview was with James Dow from The Scottish American Investment Company – watch […]

Sectors
17 Feb 2023

QD view – Nadir point close for property values

The headline numbers reported by real estate investment trusts (REITs) make for scary reading. NAV down 13.9% at AEW UK REIT in the final quarter of 2022, 21.5% at UK Commercial Property REIT, and several others posting similar declines. These falls (and more) were widely anticipated and priced into most companies late last year at […]

Sectors
Companies
17 Feb 2023
large scale batteries lined up with a field in the distance

Gore Street buys 200MW project in California

Gore Street Energy Storage Fund (GSF) has announced that it will acquire Big Rock, a 200 MW / 400 MWh energy storage project located in California, United States from Avantus. The project is part of a grid network that supplies electricity to 80% of California and a small part of Nevada. GSF’s investment manager estimates […]

17 Feb 2023
a coffee pot and a mug, good morning from QuotedData

QuotedData’s morning briefing 17 February 2023

In QuotedData’s morning briefing for 17 February 2023 The board of CVC Income and Growth (CVCE) has announced that the trust’s investment manager, CVC Credit Partners Investment Management, has waived its future right to a performance fee, taking effect from 1 January 2023. abrdn European Logistics Income (ASLI) has agreed a 3,939 sqm lease renewal […]

16 Feb 2023

Riverstone Credit wraps up strong year

Riverstone Credit announced strong full-year results for the twelve months ended 31 December 2022. The company finished the year with a NAV total return of 14.5% in 2022. Strong cash generation across the portfolio allowed the company to deliver an annual dividend in excess of target for the 2022 financial year with 9.0 cents declared for […]

Sectors
16 Feb 2023
Herald Investment Trust - The future is bright HRI

End of a tough year for Herald

Herald Investment Trust (HRI) has announced its final results for the year ended 31 December 2022. NAV fell 22.8% during the year, underperforming its benchmark index, the Numis Smaller Companies plus AIM (ex. investment companies), which fell 22.8%. However, the company did outperform the small cap Russell 2000 Technology Index (in sterling terms) which was […]

Sectors
16 Feb 2023
home reit logo over a picture of a residential street

Home REIT considers sale after approach

Embattled Home REIT is considering the possible sale of the company after receiving an unsolicited approach from Bluestar Group Limited regarding a possible offer for the entire issued share capital of the company. The company said that any offer by Bluestar would likely be in cash but added “that there can be no certainty that […]

Sectors
16 Feb 2023
221116 ROOF

Quoted Data morning briefing 16 February 2023

In QuotedData’s morning briefing 16 February 2023: Atrato Onsite Energy (ROOF) has announced the signing of a new power purchase agreement (PPA) with Tesco for a 370kWp new rooftop solar project on a supermarket site in Thetford, Norwich which will commence in Q2 2023. This will represent the first installation between the company and Supermarket […]

15 Feb 2023
Polar Capital Global Financials Trust - Don’t fear a slowing economy

Another year of outperformance for Brunner

Brunner (BUT) has released its annual results for its financial year ending 30 November 2022. BUT reported a NAV total return of 3.0% over the 12 month period, outperforming its composite benchmark index (70% FTSE World Ex-UK and 30% FTSE All Share Index) which rose by 1.4%. BUT’s board has proposed a final dividend of […]

15 Feb 2023

QuotedData’s morning briefing 15 February 2023

In QuotedData’s morning briefing 15 February 2023 JZ Capital Partners (JZCP) has announced that following a number of recent realisations of its investments, it has undertaken an early voluntary redemption in full of its subordinated 6 per cent. loan notes, paying approximately US$32 million in respect of the principal and interest outstanding. Following the voluntary […]

14 Feb 2023
230214 ACIC China

abrdn China underperforms in challenging year

abrdn China Investment Company Limited announced final results from what has been a challenging year. NAV total return was -37.0% and  share price total return was -35.5%, this compares to the MSCI China All Shares Index benchmark return of -31.5%. The report marks the first anniversary of the company’s new mandate, shifting from investing in […]

Sectors
14 Feb 2023

Polar Capital Global Financials announces new chairman

The board of Polar Capital Global Financials Trust Plc has announced the appointment of Simon Cordery to the role of chairman of the company with effect from 30 March 2023. Simon has been a non-executive director of the company since 1 July 2019. He replaces Robert Kyprianou who has been chairman since its launch, as […]

Sectors
14 Feb 2023
230124 morning

QuotedData’s morning briefing 14 February 2023

In QuotedData’s morning briefing 14 February 2023: Regional REIT (RGL) says the vast majority (99%) of its office tenants have returned to the office, with a hybrid work pattern of three to four days in the office and one to two days at home the favoured combination. The company says its regional office portfolio, which comprises […]

Companies
13 Feb 2023
230213 augm cushon

Augmentum gets boost as NatWest buys Cushon

Augmentum Fintech says that NatWest Group has agreed to acquire a majority shareholding in Cushon, one of Augmentum’s holdings. The deal will need regulatory approval. This transaction would represent Augmentum’s fifth successful portfolio investment exit, all of which have been at or above the last reported holding value. Augmentum first invested in workplace savings and […]

Sectors
13 Feb 2023

International Biotechnology manager quits

SV Health (manager and AIFM for International Biotechnology) has informed the trust that it wishes to focus on its core healthcare venture business – quitting the job of managing the fund. Ailsa Craig and Marek Poszepczynski, the current lead managers, want to stay on in the role. The board has agreed that they will continue […]

Sectors
13 Feb 2023

abrdn Smaller Companies Income Trust announces strategic review

abrdn Smaller Companies Income Trust says that, while it continues to deliver upon its investment objective (providing a high and growing dividend and capital growth from a portfolio invested principally in UK smaller companies and UK fixed income securities) its shares have continued to trade at a material discount to their net asset value for […]

13 Feb 2023

QuotedData’s morning briefing 13 February 2023

In QuotedData’s morning briefing 13 February 2023: Aquila Energy Efficiency (AEET) is holding a continuation vote on 28 February. A meeting has been convened for that date. [The continuation vote was brought forward from 2025. The shares are trading on a 32% discount (this has been widening again in recent weeks) and the trust is […]

Companies
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