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7497 Results
BBGI operated at 99.8% asset availability over interim period

BBGI, which provides exposure to a global portfolio of 49 availability-based PPP infrastructure assets, has reported interim results to 30 June 2020. Over the period, the company’s investment basis NAV  per share increased by 0.1%. The 2020 target dividend of 7.18pps represents a 2.6% increase compared to last year. Portfolio highlights include 99.8% asset availability As at 30 […]

QuotedData’s morning briefing 28 August 2020

In QuotedData’s morning briefing 28 August 2020: Invesco Asia (IAT) announced two measures aimed at meeting its 10% discount target. Chairman, Neil Rogan, says that they are being introduced to spark new demand for the company. Conditional tender offer: subject to approval by shareholders, the board intends to introduce a performance-related conditional tender offer. Under the […]

GCP Student Living fee cut

GCP Student Living fee cut Gravis Capital Management has agreed to a reduction on the amount it charges GCP Student Living – from 1% of NAV to 0.75% on the first £950m of assets, plus 0.6375% on amounts between £950m and £1.5bn and 0.5625% on amounts over £1.5bn. That is quite a big drop in […]

Pershing Square announces $200m bond issuance

Pershing Square (PSH) announced the issuance of a private placement of $200m of 12-year bonds with a coupon rate of 3.00%, maturing on July 15, 2032. The 2032 bonds are callable two years prior to their maturity at par with no penalty. Bond proceeds will be available to PSH for new investments and general corporate purposes. The […]

QuotedData’s morning briefing 27 August 2020

It has been a quiet morning so far. In QuotedData’s morning briefing 27 August 2020: NB Distressed Debt (NBDD) reported interim results to 30 June 2020, with the main point of focus being the ongoing wind up of the company’s three share classes: Ordinary; Extended Life; and New Global. Chairman, John Hallam, noted: “the Ordinary class […]

Medical cannabis a bright spot in FastForward Innovations results

The private equity sector company FastForward Innovations (FFWD), disruptive high growth businesses with near-term re-rating potential, has reported annual results to 31 March 2020. The net assets of the company were 8.8p, as at 31 March 2020, which represented a (25.3%) decline over the year. Highlights from FFWD’s investment portfolio Leap Gaming (gaming) delivered a 95% […]

QuotedData’s morning briefing 26 August 2020

In QuotedData’s morning briefing 26 August 2020: Hedge fund company, BH Macro (BHMG), which invests all of its assets in the Brevan Howard Master Fund, is having a strong 2020 with its shares up over 30%. This morning, it reported interim results, covering the period to 30 June 2020. NAV in the Sterling share class increased by […]

New issue – Triple Point Energy Efficiency

New issue – Triple Point Energy Efficiency – Triple Point Energy Efficiency Infrastructure Company plc will, if it raises enough money, be a closed-ended investment company established to invest in a diverse portfolio of energy efficiency assets in the United Kingdom. It plans to seek admission to trading on the Specialist Fund Segment of the Main […]

QuotedData’s morning briefing 25 August 2020

In QuotedData’s morning briefing 25 August 2020: Princess Private Equity says that its manager, Partners Group, has agreed the sale of its majority equity stake in PCI Pharma Services to private equity firm Kohlberg & Company and Abu Dhabi-based sovereign investor Mubadala Investment Company. Princess, alongside other Partners Group-managed funds, will retain a meaningful minority equity […]

International Public Partnerships updates on Covid-19 impact on Tideway project

International Public Partnerships (INPP), the FTSE 250 listed infrastructure investment company, has released a statement noting the update issued by Tideway earlier this morning. INPP had previously indicated that the Covid-19 pandemic and associated government guidance was likely to have an impact on the overall cost and schedule of the Tideway project. We note that in July 2015 […]

Witan Pacific releases circular ahead of proposed change of name to Baillie Gifford China Growth Trust
Witan Pacific WPC

On 22 July 2020, the board of Witan Pacific (WPC)  announced it was to appoint Baillie Gifford as the company’s investment manager, subject to shareholder approval. WPC is proposing that subject to shareholder approval, its investment objective is changed to produce long term capital growth by investing predominantly in shares of, or depositary receipts representing the […]

Hipgnosis announces deal with Robert ‘RZA’ Diggs

Hipgnosis Songs (SONG) announced that it has acquired 50% of the copyright interest and writers share in the song catalogue of what it describes as one of the most influential hip hop artists, songwriters and producers of all time, and leader of immensely successful Wu-Tang Clan, Robert ‘RZA’ Diggs.  ‘RZA co-wrote and produced almost all of […]

Bluefield Solar buys portfolio of 15 ground-mounted solar PV plants for an initial £106.6m

Bluefield Solar (BSIF) has acquired a UK-based portfolio of 15 operational solar photovoltaic (‘PV’) plants with a total installed capacity of 64.2 megawatt peak (MWp). In addition, BSIF has also agreed a new £110m, three-year term loan facility with NatWest. ‘Portfolio consists of 15 ground-mounted operational solar PV plants’ The acquisition was completed on 20 August 2020, […]

QuotedData’s morning briefing 24 August 2020

In QuotedData’s morning briefing 24 August 2020: Schroder AsiaPacific (SOI) announced that Matthew Dobbs will retire from fund management in 2021. In accordance with a succession plan agreed with the board, he will hand over responsibility to Richard Sennitt as manager and Abbas Barkhordar as assistant manager. Robin Parbrook, who has extensive Asian investment management […]

QuotedData’s weekly news show 21 August 2020

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: Princess Private Equity’s dividend cut, Hg Capital’s recent deal-making (including the largest ever software buyout) and comments from BMO Private Equity’s recent results. We also have a comment on Secured Income […]

An unlikely saviour of shopping centres

The conundrum of what to do with the vast amount of vacant space in shopping centres has been staring landlords in the face for years. The solution has been mulled over countless times by the biggest landlords, but a deal to convert space left over by ailing department stores into logistics space has yet to […]

Bold move pays off for Henderson Diversified

This week we managed to catch up with John Pattullo and Nicholas Ware, two of the managers of Henderson Diversified Income Trust. The trust is the best-performing in the AIC’s debt – loans and bonds sector over one and three years. It offers a yield of 5.1% and has the lowest ongoing charges ratio (a […]

Axiom European Financial Debt expresses caution towards the banking sector
axiom european debt AXI

Axiom European Financial Debt (AXI), which was established to take advantage of change in the regulatory environment applying to the capital structures of financial institutions, has reported results for the half-year period to 30 June 2020. The NAV total return, net of all expenses, came to (7.9%). William Scott, AXI’s chairman, notes that “AXI’s manager […]

Hg adds to Visma investment, valuing it as the largest ever software buyout globally

Hg adds to Visma investment, valuing it as the largest ever software buyout globally – It has been announced this morning that Hg, the manager of HgCapital Trust (HGT), and its investors have agreed to a further investment in Visma, a leading provider of business-critical software to private and public enterprises in the Nordic, Benelux and […]

BMO Private Equity say their initial projections may prove pessimistic

Europe-focused BMO Private Equity (BPET) released interim results covering the period to 30 June 2020. The total NAV return for the period amounted to (4.7%), while the shares returned (13.6%), on a total return basis.  Reflecting on the impact of the pandemic on the sector, BPET’s manager, Hamish Mair, noted that “private Equity investment managers have […]

QuotedData’s morning briefing 21 August 2020
The North American Income Trust - Time to grow?

In QuotedData’s morning briefing 21 August 2020: JPMorgan US Smaller Companies (JUSC) reported interim results to 30 June 2020, with the total NAV return coming in at (4.9%). The benchmark Russell 2000 index delivered (6.8%) over the same period, in sterling terms. Small-cap shares have underperformed the tech-led led large-cap rally in US markets since March. […]

Hg investing more in Sovos

Hg investing more in Sovos – Global tax software provider Sovos says that Hg – a leading global software investor, partner and supporter of the expansion of Sovos for more than four years – will lead a further, majority investment in the company through the Hg Saturn 2 Fund (through which Hg Capital trust will be […]

QuotedData’s morning briefing 20 August 2020

In QuotedData’s morning briefing 20 August 2020: Great Portland Estates is issuing £150m of new unsecured US private placement notes. The Sterling denominated notes cover 12 year and 15 year maturities (weighted average of 14.5 years) and have a weighted average fixed rate coupon of 2.77%. The new issue priced on 5 August and, subject to […]

Secured Income publishes wind down proposals

Secured Income publishes wind down proposals – The board of Secured Income Fund has published a circular to shareholders in relation to recommended proposals for a managed wind-down of the company. Cash will be freed up from the portfolio over time. The board has reiterated its previous advice that a managed wind down could take two-to-four years, […]

Still a very challenging environment for commodity funds like Riverstone Energy

Riverstone Energy (RSE) reported interim results, spanning the six months to 30 June 2020. The NAV was down by (43%) and (40%), in USD and GBP terms, respectively. The Hammerhead, ILX III, and Liberty II holdings were the main detractors. Some of the key figures from the period, as at 30 June, include: NAV $379m (£308m) NAV […]

QuotedData’s morning briefing 19 August 2020

In QuotedData’s morning briefing 19 August 2020 BBGI SICAV (BBGI), the global infrastructure fund, has completed the acquisition of a further 50% equity position in the Kelowna and Vernon Hospitals PPP Project, located in British Columbia. Though no purchase price was disclosed for contractual reasons, BBGI said it was less than £15m. We also have interim […]

Grit Real Estate collects 85.4% of rents

Grit Real Estate Income Group has released an update on rent collection figures for the period March to July 2020, for which 85.4% of rent has been received. The pan-African real estate investor said the figure includes pre-paid rent that was collected in the period – 77.4% without it. Short-term concessions amounted to 7.9% of […]

QuotedData’s morning briefing 18 August 2020

In QuotedData’s morning briefing 18 August 2020: Acorn Income declared a third interim dividend of 5.75p – in line with previous quarters – but its revenue reserves are running down as it uses these to top up income lost to dividend cuts by companies in its portfolio. Revenue reserves at 30 June were 14.6p, having been […]

Diverse Income’s strengths shine

Diverse Income’s strengths shine – Diverse Income Fund’s results covering the year ended 31 May 2020 show it beating comparative indices by some margin. Over the year, Diverse Income returned -2.5% while the All-Share returned -11.2%. Total dividend for the year was 3.7p, up from 3.65p. £2.5m of dividends paid to shareholders came from revenue reserves. […]

Defensive portfolio benefits Aberdeen New India
JPMorgan Indian JII

Defensive portfolio benefits Aberdeen New India – Aberdeen New India has published results for the year ended 31 March 2020. The year end is struck close to the depths of market falls. over the period, the trust’s NAV fell by 22.7% and its share price by 28.9% (as the discount widened from 13.3% to 20.3%). The […]

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